Marketing Processes and Consumer Behavior Study Guide unit 5 – Flashcards

Product differentiation is selecting the best price at which to sell a product.

Geographic variables describe populations by identifying traits, such as age, income, gender, ethnic background, marital status, race, religion, and social class.

Rational motives involve nonobjective factors and include sociability, imitation of others, and aesthetics.

The institutional market is made up of businesses that buy goods to be converted into other products or that are used up during production.

Marketing consists primarily of advertising a product or service.

The formula for value is benefits divided by costs.

Marketing concepts can be extended to the promotion of ideas.

Economic conditions greatly influence marketing plans for product offerings.

A description such as single, aged 20-34, earning $30,000 a year, is an example of a psychographic variable.

The B2B market includes industrial, reseller, and government/institutional markets.

Companies with an existing distribution network are at a disadvantage in the global context.

Time utility is created by a sales agreement that stipulates where products will be delivered to customers.

Target marketing requires dividing a market into categories of customer types or "segments."

Psychographics cannot be changed by marketing efforts.

The reseller market includes farmers, manufacturers, and some retailers.

B2B sellers rarely have long-term relationships with buyers.

Benefits add value by providing features that increase the customer's satisfaction.

What is the term for the process of creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders?

What is the term for intangible products, such as time, expertise, or an activity that can be purchased?

Which of the following identifies products that are dissimilar from those of competitors, but can fulfill the same need?

What is the term for the type of competition based on buyers' perceptions of the benefits of products offered by particular companies?

What is the term for a detailed strategy for focusing marketing efforts on consumers' needs and wants?

What is the term that encompasses a good, a service, or an idea designed to fill a consumer need?

For marketers, what type of variables are lifestyles, opinions, interests, and attitudes?

What is the decision process by which customers come to purchase and consume products?

What type of behavior do consumers exhibit by regularly purchasing products because they are satisfied with their performance?

What are the tangible and intangible qualities that a company builds into its products?

A product's benefits include all of the following EXCEPT which?

What type of goods includes raw materials and integrated circuits?

Which of the following terms describes the kind of products marketed by insurance companies, airlines, investment counselors, health clinics, and public accountants?

What type of marketing is a "loyalty banking" program an example of?

What is data warehousing?

Congress has conducted hearings on the use of cell phones while driving. What factors would this constitute in a company's external environment?

Marketing managers often support the activities of political action committees (PACs). In doing this, which environment are they attempting to influence?

A company decides to introduce a line of crackers made with organically grown grains and vegetables. What environmental trend is the company responding to?

What kind of factor in the business environment are smart phones considered an example of?

Satellite dish and home television shopping provide examples of changes to which of the following external environmental factors that affect marketing?

What are fitness programs and drug regimens to lower cholesterol levels both examples of?

What part of the marketing mix includes communicating information about products?

Which is usually the first step in the marketing strategy?

Burberry is repositioning itself as a global luxury brand, such as Gucci and Louis Vuitton, a strategy that calls for luring fashion-conscious customers. This is an example of what type of market segmentation?

Which of the following is the LEAST important influence on consumer behavior?

In consumer behavior, what is the name for the influences that include the "way of living" that distinguishes one large group from another and one ethnic group from another?

What do consumers exhibit when they regularly purchase products because they are satisfied with the products' performance?

Reading the relevant issues of Consumer Reports prior to purchasing a product is an example of what part of the consumer buying process?

Marketing does not stop with the sale of a product. What is the term that describes what happens after the sale?

What do B2B buyer-seller situations often involve?

Some products can be sold abroad with virtually no changes. Which of the following is an example of such a product?

Little Earth Productions is a company that makes fashion accessories such as handbags. After examining shopping habits, what should they focus on for better visibility of the product for customers?

Leif designs and sells surfboards. Although his sales are declining, he decides to keep his prices constant. Which of the following statements, if true, would support Leif's decision?

Which of the following occurs between similar products and is based on buyers' perceptions of the benefits of products offered by particular companies?

Garrett is in the business of selling baseball bats. He decides to employ focus groups to determine which bats will likely be bestsellers. Which of the following groups will he be LEAST likely to invite as participants?

Tamika starts a business making teddy bears and is excited to deliver the first batch to young patients. When Tamika arrives at the hospital, she learns that she has more bears than she needs. Which of the following would likely explain this?

Tamika starts a business making teddy bears and elects to use focus groups to determine whether customized bears would be well received in a hospital setting. The focus groups prove to be unhelpful in answering this question. Which of the following could NOT be a valid explanation?

Quinn Clothes is a successful business selling fashionable and athletic swimwear. The marketing staff has said that the company's plan to develop and market waterproof perfumes might be hindered by a lack of experience in the perfume field. Which of the following is the BEST response to that weakness?

What does the process of "positioning" involve?

What would be the BEST target market for waterproof fragrances?

Which of the following is the BEST example of an emotional motive in consumer purchasing?

Accessing a Web site in search of magazine articles about a product before its purchase is an example of what part of the consumer buying process?

Which of the following is the BEST example of a B2B market transaction?

DVD Heaven sells new and used DVDs, particularly to college students in large university cities. It plans to expand its business online, hoping to increase sales by offering a more convenient means of ordering for busy college students. 61) The vice president of marketing suggests opening a Facebook page for DVD Heaven, but the president argues that social media sites would not help its business. Which of the following statements, if true, would support the argument made by the president for NOT using social media sites as part of DVD Heaven's advertising strategy? The president of DVD Heaven has been talking to several other business owners, and now expresses some concerns over developing the e-commerce side of the business. The vice president argues that it is essential for continued growth, but the president argues that there are too many consumer concerns. 62) Which of the following statements, if true, would NOT support the argument being made by the president regarding consumer concerns?

Penelope's Pizza, a local chain of carryout restaurants, has made the decision to expand to a national basis. It plans to open 50 Penelope's in 20 cities across the country within the next two years. In order to efficiently integrate all the tools and company resources to maximize the impact on new customers, Penelope's Pizza is considering using an integrated marketing strategy to promote a coherent national brand perception. The account manager argues that an integrated marketing strategy is the way to go, but the CEO argues that each local community is different, and the needs, values, and norms of the host cities should drive the marketing campaign. 63) Which of the following practices would support the CEO's argument? Penelope's Pizza also wants to be at the forefront of current trends and changes in the practice of advertising. The account manager wants to focus on consumer-generated advertising via YouTube, Twitter, and Facebook, whereas the CEO prefers to focus on mainstream media. 64) Which of the following, if true, would support the position of the account manager? After becoming a successful national brand, Penelope's Pizza has made the decision to expand overseas and enter the global market. Using a globally integrated marketing plan, Penelope's plans to enter the pizza market in Germany, Japan, and India. The CEO wants to use an adaptation plan in the new markets, and thus offer kielbasa pizza in Germany, sushi pizza in Japan, and vegetarian pizza in India. The advertising firm recommends a standardization approach as being more cost efficient and brand identifiable. 65) Which statement, if true, supports the CEO's argument?

Snazzy Sodas is known for a variety of all-natural sodas as well as its efforts toward social responsibility. The company has decided to produce a new line of energy drinks, and while it does not have the resources to promote its product widely, it can make a sizeable impact with a carefully chosen market segment. The CEO favors marketing the product primarily to young males, but the VP of Operations recommends targeting female professionals. Which of the following, if true, would support the CEO's position? 66) Which of the following, if true, would support the CEO's position? 67) Which of the following, if true, would weaken the CEO's position? 68) Which of the following, if true, would MOST strongly support the VP of Operation's position? 69) Which of the following, if true, would weaken the VP of Operation's position? 70) Which of the following questions is LEAST relevant to Snazzy Sodas' evaluation of the desirability of the young male market segment?

Macmoo Real Estate is beginning to use data-driven processes to determine the value that it gets from different marketing activities. Macmoo's Web site lists available properties and allows customers to request information. Macmoo tends to advertise in local newspapers and specialized real estate periodicals. The Marketing Director believes that Macmoo's traditional spring advertising campaign, which runs during the month of March, is an effective use of advertising resources. When pressed for evidence, the Marketing Director points out that revenues in March have consistently been higher than revenues in February. 71) Which of the following is assumed by the Marketing Director's argument? 72) Which of the following, if true about the real estate industry in general, would weaken the Marketing Director's argument? 73) During 2010, Macmoo completed fewer real estate transactions than it did during any similar time period during the last five years. Still, the Marketing Director claims that its marketing efforts led to very positive financial results for Macmoo. Which of the following, if true, would resolve this seeming discrepancy?

Hilltel is a U.S.-based company that sells mobile phones and other handheld devices. The company has decided to sell its products internationally, and is considering using a standardized marketing approach wherever it sells its products. 74) Hilltel's CEO thinks that having a standardized marketing strategy will enable the company to control and plan production better. Which of the following, if true about using a single marketing approach, would strengthen her case? 75) Hilltel's head of marketing thinks that a standardized marketing strategy will allow the company to portray a consistent global brand. Which of the following, if true about using a single marketing approach, would strengthen his case?

Dinasonic, an American company that manufactures and markets consumer kitchen products, is preparing to introduce its products to international markets. The company's director of marketing wants the company to adapt its marketing approach to the various markets in different countries that the company is looking to enter. He needs to defend the proposal for his recommended marketing strategy to the rest of the executive team. 76) The director of marketing argues that Dinasonic should use an adaptation strategy for its marketing because its products will need to be adapted to different markets. Which of the following, if true, would strengthen this position? 77) The director of marketing argues that Dinasonic should alter its marketing strategy in different countries by adapting its methods of advertising. Which of the following, if true, would support this position? 78) The director of marketing argues that Dinasonic's products will need to be adapted to local markets to fit the standard of living in other countries. Which of the following, if true, would strengthen this position?