Marketing Exam 2 Hacker
Which step of the market research process involves specifying the research objectives and identifying the consumer population of interest?
Defining the research problem
Defining the research problem is the step of the market research process that involves __________.
specifying the research objectives and identifying the consumer population of interest
Which step of the market research process involves translating questionnaires and responses?
Collecting the data
An example of secondary research is __________
Preparing the research report is the __________ step in the market research process
An example of primary research is __________.
What is a market intelligence system?
A method by which marketers get information about everyday happenings in the marketing environment
Defining the research problem is the __________ step in the market research process.
Which of the following is an advantage of collecting data via an online questionnaire?
No geographic restrictions
Which of the following is an example of secondary research?
The technique that marketers use to generate insights for future, more rigorous studies is __________.
Which of the following best describes a marketing information system (MIS)?
A process that first determines what information marketing managers need and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information
__________ is general information that specialized firms collect on a regular basis and then sell to other firms.
Identify the last step in the market research process.
Preparing the research report
In the market research process, designing the sample is the step that occurs immediately before the step of __________.
analyzing and interpreting the data
What is validity?
The extent to which research actually measures what it was intended to measure
The collection, deployment, and interpretation of information that allow a business to acquire, develop, and retain its customers is known as __________.
A collection of raw, unorganized facts that needs to be processed is __________.
Which of the following describes a process that first determines what information marketing managers need and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information?
Marketing information system (MIS)
What is reverse engineering?
The process of physically deconstructing a competitor’s product to determine how it’s put together
Which of the following is an example of primary research?
What is the name for a technique that attempts to understand cause-and-effect relationships?
Which of the following describes exploratory research?
A technique that marketers use to generate insights for future, more rigorous studies
An advantage of collecting data via an online questionnaire is __________.
instantaneous data collection and analysis
What is market research?
The process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment in order to improve marketing effectiveness
__________ is a tool that probes more systematically into the problem and bases its conclusions on large numbers of observations.
Which of the following is a method by which marketers get information about everyday happenings in the marketing environment?
Market intelligence system
Collecting the data is the step of the market research process that involves __________.
translating questionnaires and responses
Identify the first step in the market research process.
Defining the research problem
Which of the following describes a probability sample?
A sample in which each member of the population has some known chance of being included
All of the following are sources marketing managers use to collect and analyze data within a marketing firm EXCEPT ________.
the MDSS process
Typically, the marketing manager uses a(n) ________ to enhance the entire Management Information System (MIS).
Management Decision Support System (MDSS)
A(n) ________ refers to the data, analysis software, and interactive software that allow managers to conduct analyses and find the information they need.
marketing decision support system (MDSS)
________ consists of raw, unorganized facts that become ________ when they are transformed, analyzed, and interpreted.
________ refers to the collection, deployment, and interpretation of information that allows a business to more astutely acquire, develop, and retain its customers.
________ is the collection, deployment, and interpretation of information that allows a business to acquire, develop, and retain its customers.
What is the next step in the marketing research process after determining the research design?
Choose the method to collect primary data.
There are essentially three methods or techniques to research design including exploratory, ________, and causal research.
In a ________ sample, some members of the population have no chance at all of being included. Thus, there is no way to ensure that the sample is representative of the population. Therefore, results from these studies can be generally suggestive of what is going on in the real world but are not necessarily definitive.
Which of the following signifies an event that occurs on a Web page that indicates the meeting of a predefined goal associated with the consumer’s interaction with that page?
What is information overload?
A state in which the marketer is buried in so much data that it becomes nearly paralyzing to decide which of the data provides useful information and which does not.
What is marketing analytics?
A group of technologies and processes that enables marketers to collect, measure, analyze, and assess the effectiveness of marketing efforts.
What is a popular term to describe the exponential growth of data in massive amounts that are hard or impossible to process using traditional database techniques?
What is the second step in one-to-one marketing?
Differentiate among customers.
Which application of data mining is in place when the firm identifies big-spending customers and then targets them for special offers and inducements other customers won’t receive?
Customer retention and loyalty
___________ are specific measures that help marketers watch the performance of their marketing campaigns, initiatives, and channels and, when appropriate, serve as a control mechanism.
___________ is the cost of gaining an order in terms of the marketing investment made to turn a website visitor into a customer who has chosen to make a transaction.
Which of the following describes share of customer?
The percentage of an individual customer’s purchase of a product that is a single brand
The metric that indicates the percentage of website users who have decided to click on an ad in order to visit the website or Web page associated with it is __________.
The collection and analysis of machine-sensed environmental data pertaining to human social behavior with the goal of identifying predictable patterns of behavior is __________.
What are structured data?
Data that (1) is typically numeric or categorical; (2) can be organized and formatted in a way that is easy for computers to read, organize, and understand; and (3) can be inserted into a database in seamless fashion
Which of the following is an example of unstructured data?
What of the following describes a conversion?
Signifies an event that occurs on a Web page that indicates the meeting of a predefined goal associated with the consumer’s interaction with that page
The financial value of a customer throughout the lifetime of the relationship is __________.
Sentiment analysis is __________.
the process of identifying one’s attitude toward a brand by assessing the context or emotion of one’s comments
What is Web scraping?
The process of using computer software to extract large amounts of data from websites
Which of the following consists of sophisticated techniques to take advantage of the massive amount of transaction information now available?
In one-to-one marketing, initiating more dialogue with customers is part of the __________ step.
Which of the following is an online ad purchase in which the cost of the ad is charged only each time an individual clicks on the ad and is directed to the Web page to which the marketer linked within the ad?
Which of the following describes customer relationship management (CRM)?
A systematic tracking of consumers’ preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual’s wants and needs
The elements of customer relationship management (CRM) conclude with ________.
customizing aspects of goods and service
The financial value of a customer throughout the lifetime of the relationship is the ________.
Which of the following is not directly related to a competitive advantage of using Big Data?
Measuring customer equity
Sophisticated analysis techniques that take advantage of the massive amount of transaction information now available are described as ________.
An effective set of technologies and processes that enables marketers to collect, measure, analyze, and assess the effectiveness of marketing efforts is known as ________.
Firms are increasingly employing ________, a systematic process of ensuring one’s firm comes up at or near the top of lists of typical search phrases related to the business, to increase its visibility on the Internet.
search engine optimization (SEO)
When marketing managers want to track and measure the performance of their marketing campaigns, initiatives, and channels and, when appropriate, serve as a control mechanism for when corrective action is necessary, they use ________.
A metric often used to determine when a customer goes beyond merely visiting a webpage and which indicates reaching a predefined goal associated with the consumer’s interaction with that page is referred to as ________.
________ is a marketing metric that indicates the percentage of Web site users who have decided to click on an advertisement in order to visit the Web site or Web page associated with it.
A private, corporate computer network that links company departments, employees, and databases to suppliers, customers, and others outside the organization is a(n) __________.
In consumer markets, __________.
purchases are often based on brand reputation with little or no product expertise
Which of the following is true of consumer markets?
Purchases are frequently made on impulse.
Problem recognition is the __________ step in the consumer decision-making process.
Which of the following describes cognition?
The knowing component of attitudes; it refers to the beliefs or knowledge a person has about a product and its important characteristics
With regard to Maslow’s hierarchy of needs, which of the following needs describe belongingness?
Love, friendship, and acceptance by others
How is consumer behavior best defined?
The process where individuals or groups select, purchase, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires
__________ is a practice in which firms outsource marketing activities to a community of users.
Which of the following is a marketing technique that links distinct sensory experiences such as a unique fragrance with a product or service?
What is an extranet?
A private, corporate computer network that links company departments, employees, and databases to suppliers, customers, and others outside the organization
What is perception?
The process by which people select, organize, and interpret information from the outside world
Which of the following scenarios is an example of the evaluation of alternatives step of the consumer decision-making process?
Mishael has narrowed down her new tablet choices to two different options and is weighing the pros and cons of each tablet that she is considering buying.
What is the name for the individuals or organizations that buy finished goods for the purpose of reselling, renting, or leasing to others to make a profit and to maintain their business operations?
A straight rebuy is a ___________.
buying situation in which business buyers make routine purchases that require minimal decision making
What is the last step in the consumer decision-making process?
__________ are the group of customers that includes manufacturers, wholesalers, retailers, and other organizations.
Business-to-business (B2B) markets
What is the first step in the consumer decision-making process?
Searching for information is the ___________ step in the business buying decision process.
Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response on its own but will cause a similar response over time because of its association with the first stimulus is known as __________.
Which of the following describes an opinion leader?
One who is frequently able to influence others’ attitudes or behaviors by virtue of one’s active interest and expertise in one or more product categories
What is the mass class?
The hundreds of millions of global consumers who now enjoy a level of purchasing power that’s sufficient to let them afford high-quality products, excluding big-ticket items
What is search marketing?
Marketing strategies that involve the use of Internet search engines
Information search is that stage of the buyer decision process in which the consumer __________.
is motivated to search for more data on the product
In the process of making purchases, consumers go through a series of five steps. One of the following steps is not part of this sequence. Identify from the following the one task that is only a subset of another one of the steps the marketing manger would go through to make a purchase.
Negotiate the price.
Consumer decisions differ greatly, ranging from ________ purchases, which are repeat, low-involvement purchases, to ________ purchases, which are extended problem-solving activities for important, risky, and high-involvement purchases.
Several internal factors influence consumer decisions. Which internal factor is an internal state that drives consumers to satisfy needs?
In addition to internal factors such as motivation and perception, influencing consumers’ behavior, what other factors, including age and family lifecycle, do marketing managers use to group people according to activities, interests, and opinions that may explain their reasons for purchasing products?
Consumers’ buying behavior and references for certain products and brands are influenced by social and group membership influences. These range from rather wide social influence to more narrow groups that are more immediate to the consumer. Which of the following is not a social or group influence on consumer buyer behavior?
Dimensions of the physical environment create arousal and pleasure and can determine how consumers react to the environment. Which of the following elements are considered to be situational influences on buyer behavior?
time of day, the season of the year, and how much time one has
B2B markets include business or organizational customers who buy goods and services for purposes other than personal consumption. There are many differences between organizational and consumer markets including which one of the following factors?
Demand is derived demand.
Business customers include producers, resellers, governments, and not-for-profit organizations. Of these business buyers, which one buys materials, parts, and various goods and services needed to produce other goods and services to be sold at a profit?
A buying center is a group of people working together to make a buying decision. There are numerous roles in the buying center. Which person in the center controls the flow of information to others?
What is targeting?
A strategy in which marketers evaluate the attractiveness of each potential segment and decide in which of these groups they will invest resources to turn them into customers
Which of the following is a strategy that divides the total market into different segments on the basis of customer characteristics, selecting one or more segments and developing products to meet the needs of those specific segments?
What is the first step in the target marketing process?
Which of the following describes an approach that modifies a basic good or service to meet the needs of an individual?
Generation X is a group of consumers who __________.
often have a cynical attitude toward marketing
What is market fragmentation?
The creation of many consumer groups due to a diversity of distinct needs and wants in modern society
What is positioning?
A strategy that influences how a particular market segment perceives a good or service in comparison with the competition.
What are segmentation variables?
Dimensions that divide the total market into fairly homogenous groups, each with different needs and preferences
What is the creation of many consumer groups due to a diversity of distinct needs and wants in modern society?
Which of the following describes the strategy of establishing thought leadership in the form of bylines, blogs, commenting opportunities, videos, sharable social images, and infographics?
When you create a __________ for a product or service, you need to develop a distinctive image that captures its character and benefits.
Positioning is the __________ and final step in the target marketing process.
A perceptual map is a(n) __________.
technique used to visually describe where brands are “located” in consumers’ minds relative to competing brands
A differentiated targeting strategy is a strategy that __________.
develops one or more products for each of several distinct customer groups and makes sure these offerings are kept separate in the marketplace
What is a concentrated targeting strategy?
A strategy that focuses a firm’s efforts on offering one or more products to a single segment
A usage rate is a __________.
measurement that reflects the quantity purchased or frequency of use among consumers of a particular product or service
__________ is the use of psychological, sociological, and anthropological factors to construct market segments.
Which of the following describes demographics?
Statistics that measure observable aspects of a population, including size, age, gender, ethnic group, income, education, occupation, and family structure
What is segmentation?
The process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics
Which of the following describes content marketing?
The strategy of establishing thought leadership in the form of bylines, blogs, commenting opportunities, videos, sharable social images, and infographics
What is the name for a strategy in which marketers evaluate the attractiveness of each potential segment and decide in which of these groups they will invest resources to turn them into customers?
Segmentation is the __________ step in the target marketing process.
A(n) __________ strategy develops one or more products for each of several distinct customer groups and makes sure these offerings are kept separate in the marketplace.
What is the first stage in a positioning decision?
Analyze competitors’ positions.
What is the name for a strategy that influences how a particular market segment perceives a good or service in comparison with the competition?
If you want to visually describe where brands are “located” in consumers’ minds relative to competing brands, you would create a ___________.
As part of the decision-making process in positioning, marketers must define the competitive advantage, which means to __________.
provide a reason why consumers will perceive the product as better than the competition
Which of the following describes mass customization?
An approach that modifies a basic good or service to meet the needs of an individual
What is a target marketing strategy?
Divides the total market into different segments on the basis of customer characteristics, selecting one or more segments and developing products to meet the needs of those specific segments
Which generation of consumers often has a cynical attitude toward marketing?
In which of the following strategies is the focus of a firm’s efforts on offering one or more products to a single segment?
Concentrated targeting strategy
Which of the following describes dimensions that divide the total market into fairly homogenous groups, each with different needs and preferences?
What is the last step in the target marketing process?
Brand personality is __________.
the development of an identity for the product market that the target market will prefer over those of competing brands
The process of employing a ________ marketing strategy is to balance the efficiency of mass marketing, presenting the same items to all customers with the effectiveness of offering each individual exactly what she wants with micro-marketing. This process involves three steps.
In target marketing, marketers follow three distinct steps. First the manager divides the total market into different segments based on customer characteristics, and then she selects one or more segments. What is the third step in the process?
Developing products to meet the needs of targeted segments.
In the first step in application of the target marketing strategy, the marketer must determine which segmentation variable he will use. Which one of the following variables is a commonly accepted base for segmentation of business-to-business markets?
North American Industry Classification (NAICS) codes
Business-to-business markets are segmented by a different set of variables than consumers are. Which pair of the following are methods to segment the business-to-business market?
Industrial demographics and geographic location
Marketers can often identify a segment to target, but that does not necessarily mean that it is a useful target. A viable target segment should satisfy several requirements, including all of the following except one. Which of one of the following factors is of very little concern to the marketer targeting a potential segment?
Marketers must decide on a targeting strategy and whether they should go after one total market, one or several market segments, or even target customers individually. Which approach chooses a targeting strategy that develops one or more products for each of several customer groups with different product needs?
What is the final stage of developing a target marketing strategy to provide consumers, who belong to the targeted market segment, with a good or service that meets their unique needs and expectations?
The manufacturers of Amigo, a simple cell phone with only four buttons, was originally developed for children 8dash-12 years old. Sales were abysmal. The product was renamed Jitterbug and promoted to senior citizens as a safety tool for calling adult children or medical professionals in the event of an emergency. This action by the marketers is known as what?
A company would be in the ________ stage of the positioning process if it were repositioning.
evaluate responses and modify as needed
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