MKT 333 Test 2 – Flashcards
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A group of people who share traits and have similar product needs is known as a: a. demographic. b. population. c. market segment. d. market.
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c. market segment
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________ is the process where distinct market segments are identified. a. Market study b. Market division c. Market analysis d. Market segmentation
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d. Market segmentation
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A food products company groups its customers according to where they live. This is an example of ________ segmentation. a. income segmentation b. geographic c. family life-cycle segmentation d. age segmentation
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b. geographic
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Toyota promotes its Sienna minivan as a safe and practical vehicle for families. This is an example of ________ segmentation. a. income segmentation b. geographic c. family life cycle segmentation d. age segmentation
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c. family life cycle (FLC) segmentation
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Gerber produces a line of organic baby foods to appeal to consumers who are concerned about food safety and environmental issues. This is an example of ________ segmentation. a. income b. usage-rate c. psychographic d. geodemographic
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c. psychographic
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McDonald's new marketing campaign is aimed at attracting customers who visit the restaurant less than six times per year. This is an example of ________ segmentation. a. income b. usage-rate c. psychographic d. geodemographic
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b. usage-rate
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________ are customers who do extensive research before purchasing. a. Innovators b. Collaborators c. Satisficers d. Optimizers
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d. optimizers
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Which of the following is NOT a step in market segmentation? a. developing a perceptual map b. selecting target markets c. profiling and analyzing segments d. choosing a basis for segmenting the market
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a. developing a perceptual map
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A computer manufacturer promotes its products with a single campaign aimed at various groups. This is an example of ________ strategy. a. concentrated targeting b. multisegment targeting c. undifferentiated targeting d. target market
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c. undifferentiated targeting
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The Smart car is aimed at young, urbanites who want efficient and convenient transportation. This is an example of ________ strategy. a. concentrated targeting b. multisegment targeting c. undifferentiated targeting d. target market
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a. concentrated targeting
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Which of the following is a key benefit of the undifferentiated target strategy? a. cost savings b. economies of scale in producing and marketing c. strong positioning in the market d. concentration of resources
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a. cost savings
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In Starbucks, ________ will occur if it's new VIA line of instant coffee leads to reduced sales of its coffee beans. a. focusing b. optimization c. targeting d. cannibalization
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d. cannabalization
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In its advertisements, Verizon emphasizes how its mobile network is faster and offers more nationwide coverage than its competitors. This is an example of: a. one-to-one marketing. b. product differentiation. c. repositioning. d. attribution.
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b. product differentiation
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A company implements ________ in order to change the opinions that consumers have about their products. a. segmenting b. evaluation c. repositioning d. positioning
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c. repositioning
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A company that uses the attribute base for positioning will emphasize: a. competitor products. b. how the product makes one feel. c. the product's high price. d. the product's feature or benefits.
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d. the product's feature or benefits
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A marketing decision support system allows managers to: a. establish lower price points. b. offer creative advertisement campaigns. c. promote environmental issues. d. gather and use marketing information.
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d. gather and use marketing information
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Database marketing creates a ________ that contains information on customer profiles and purchase patterns. a. computerized file b. web-based profile c. model d. automated process
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a. computerized file
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Which of the following is NOT an important role of marketing research? a. diagnostic b. descriptive c. specification d. predictive
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c. specification
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All of the following are examples of secondary data EXCEPT: a. reports to stockholders. b. analysis of competitor's products. c. house periodicals. d. annual reports.
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b. analysis of competitor's products
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If a company calls potential consumers to get their opinions, it is performing: a. experiments. b. ethnographic research. c. survey research. d. virtual shopping.
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c. survey research
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Which of the following is NOT an example of an open-ended question? a. What is your favorite brand of soap? b. Where is your favorite place to buy electronics? c. Who is your biggest influence on what products you buy? d. Are you male?
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d. Are you male?
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Which of the following is NOT an example of a close-ended question? a. Do you like pancakes? b. Which spokesmen seems more trustworthy, Mr. X or Ms. Y? c. Why do you prefer to shop at a certain store? d. Have you ever traveled to a foreign country?
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c. Why do you prefer to shop at a certain store?
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A company that sends out researchers posing as actual customers is engaging in: a. mystery shoppers. b. focus groups. c. virtual shopping. d. ethnographic research.
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a. mystery shoppers
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In market research, a ________ is necessary because it is difficult to take a census of, or interview, all possible users of a certain product. a. sample b. universe c. segment d. cluster
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a. sample
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The term ________ refers to the group from which the research sample will be drawn. a. cluster b. meta-group c. universe d. actual market
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c. universe
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In its market research, a jewelry company selects a sample with no regard to factors such as income, cultural background, or age. It thus produces a ________ sample. a. random b. nonprobability c. blind d. convenience
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a. random
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An apparel chain conducts market research by interviewing friends and relatives of its employees. This produces a ________ sample. a. probability b. convenience c. frame d. random
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b. convenience
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Which of the following is NOT an advantage of doing market research through online focus groups? a. reduced cost b. reduces cultural barriers c. higher participation rates d. honesty
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b. reduce cultural barriers
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The ________ method of research allows firms to monitor consumer responses to marketing campaigns in a continuous fashion. a. online focus groups b. web survey systems c. online panels d. scanner-based research
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d. scanner-based research
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________ is an important source of information on how to overcome a competitor's advantage. a. Competitive intelligence b. Emotional intelligence c. Competitive advantage d. Security and privacy
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a. Competitive Intelligence (CI)
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Which of the following is NOT an example of a product? a. shoes b. financial consulting c. notepads d. All are examples of products.
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d. All are examples of products
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The key distinction between a business product and consumer product is: a. quality. b. intended use. c. point of origin. d. manufacturing process.
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b. intended use
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Candy bars, safety pins, and apples are all examples of ________ products. a. convenience b. shopping c. specialty d. industrial
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a. convenience
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Automobiles, home theater systems, and mobile phones are all examples of ________ products. a. convenience b. shopping c. specialty d. industrial
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b. shopping
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Marketers often use selective, status-conscious advertising when they are selling ________ products. a. convenience b. shopping c. specialty d. industrial
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c. speciality
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GE's ________ includes aircraft engines, kitchen appliances, and light bulbs. a. unsought product b. product line c. product item d. product mix
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d. product mix
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A ________ is a name, term, or symbol that distinguishes one company's products from another's. a. brand mark b. trade mark c. brand name d. brand
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d. brand
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Which of the following is NOT an example of a brand mark? a. Chevrolet's bow tie design b. 7-Eleven c. AT&T's blue and white globe d. Ferrari's prancing stallion
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b. 7-Eleven
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A brand that has a high level of ________ has high awareness, perceived quality, and brand loyalty among consumers. a. brand mark b. brand recognition c. brand equity d. brand value
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c. brand equity
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A global brand is one that earns at least ________ of its earnings outside the home country. a. 1?3 b. 1?4 c. 1?2 d. 1?5
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a. 1/3
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________ refers to the exclusive right to use a brand or part of a brand. a. Registry b. Copyright c. Trademark d. Rights management
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c. trademark
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A product label that provides information on features, care instructions, or ingredients is an example of: a. labeling. b. greenwashing. c. persuasive labeling. d. informational labeling.
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d. informational labeling
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Proper translation of labels and product information is an important consideration for global ________ decisions. a. branding b. marketing c. packaging d. licensing
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c. packaging
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A(n) ________ warranty is a written statement that protects the buyer and gives information about the product. a. implied b. extended c. basic d. express
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d. express
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The Uniform Commercial Code insures that all sales have a(n): a. express warranty. b. satisfaction guarantee. c. implied warranty. d. unlimited return policy.
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c. implied warranty
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New products do all of the following EXCEPT: a. sustain growth. b. increase profits. c. increase quality. d. replace obsolete items.
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c. increase quality
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Within the "new product" category, ________ are those that create an entirely new market. a. repositioned products b. lower priced products c. new product lines d. new-to-the-world products
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d. new-to-the-world products
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Within the "new product" category, ________ are existing products that target new market segments. a. repositioned products b. lower priced products c. new product lines d. new-to-the-world products
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a. repositioned products
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Within the "new product" category, ________ are significantly or slightly changed versions of older products. a. new product lines b. additions to existing product lines c. improvements or revisions of existing product lines d. lower-priced products
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c. improvements or revisions of existing product lines
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A company's ________ specifies the roles that new products must play in the organization's overall plan. a. product strategy b. product development c. idea generation d. new-product strategy
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d. new-product strategy
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During ________, a group comes up with as many innovative ideas as possible without rejecting any of them. a. focus group b. brainstorming c. consulting d. research and development
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b. brainstorming
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During the ________ stage, ideas that are incompatible or inappropriate for an organization are rejected. a. development b. idea screening c. analysis d. concept test
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b. idea screening
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Test marketing is the ________ introduction of a product and marketing program to determine reactions of potential consumers. a. global b. secret c. limited d. widespread
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c. limited
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Multinational corporations develop products for one market where they do research, and then modify it to meet market requirements as it becomes time to distribute in different countries. a. True b. False
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b. False
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________ are consumers who are the first to adopt a new product. a. Early majority b. Innovators c. Laggards d. Early adopters
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b. Innovators
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________ are consumers who are likely to weigh pros and cons before adopting an innovative product. a. Early majority b. Innovators c. Laggards d. Early adopters
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a. Early majority
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Which of the following characteristics helps to predict the acceptance and diffusion of a new product? a. complexity b. relative advantage c. observability d. All of the above.
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d. All of the above
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The ________ stage of the product life cycle is marked by increased sales, profits and competition. a. maturity b. introductory c. decline d. growth
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d. growth
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The ________ stage of the product life cycle is marked by a loss of sales and profits. a. maturity b. introductory c. decline d. growth
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c. decline
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The ________ stage of the product life cycle is marked by a focus on developing product awareness and informing consumers about its potential benefits. a. maturity b. introductory c. decline d. growth
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b. introductory
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Which of the following is NOT an example of a service? a. desktop publishing software b. consulting c. legal advice d. customer service
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a. desktop publishing software
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A consumer's level of satisfaction with the assistance that a sales representative provides is an example of: a. total quality. b. search quality. c. experience quality. d. credence quality.
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c. experience quality
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Providing a service for the lowest price is an example of: a. total quality. b. search quality. c. experience quality. d. credence quality.
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b. search quality
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The term ________ refers to the inherent variability of services and service providers. a. homeostasis b. heterogeneity c. homogeneity d. equilibrium
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b. heterogeneity
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The term ________ refers to services in which the consumer is actually involved in the production of the service. a. immateriality b. intangibility c. inseparability d. incredulity
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c. inseparability
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The ________ model helps managers identify the source of quality problems and understand how service quality can be improved. a. gap b. expectations c. perception d. transaction
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a. gap
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Skilled employees who treat customers with respect and make customers feel that they can trust them exemplify: a. responsiveness. b. empathy. c. assurance. d. reliability.
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c. assurance
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The ________ of a service include physical facilities, tool, and equipment used to provide the service. a. gaps b. tangibles c. perishability d. provider
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b. tangibles
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Employees who recognize customers and learn their specific requirements are practicing: a. empathy. b. assurance. c. responsiveness. d. reliability.
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a. empathy
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In the hotel industry, the overnight rental of a bedroom constitutes the: a. service mix. b. core service. c. supplementary service. d. service process.
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b. core service
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Factors to consider in the distribution strategy of service organizations include all of the following EXCEPT: a. scheduling. b. convenience. c. customization. d. number of outlets.
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c. customization
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The ________ strategy uses technology to deliver customized services to each consumer. a. executive service b. personal marketing c. individual oriented d. mass customization
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d. mass customization
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The ________ pricing method offers varying prices that depend on the market segment's ability to pay. a. customer-oriented b. revenue-oriented c. operations-oriented d. patronage-oriented
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d. patronage-oriented
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An effective way to ensure the happiness of service employees is: a. viral marketing. b. internal marketing. c. external marketing. d. relationship marketing.
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b. internal marketing
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Which of the following is an example of a nonprofit organization? a. The University of Chicago b. General Electric c. Ford Motor Company d. Amazon.com
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a. The University of Chicago
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Supply chain management is completely ________ driven. a. supplier b. designer c. consumer d. producer
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c. consumer
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The benefits of supply chain management include all of the following EXCEPT: a. improved customer service. b. higher profits. c. reduced costs. d. more inventory.
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d. more inventory
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The key principle of supply chain management can be best summed up as ________ between multiple firms. a. collaboration b. hostility c. exclusivity d. competition
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a. collaboration
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________ integration involves an evaluation of the performance of the entire supply chain and the individual firms. a. Relationship b. Technology and planning c. Material and service supplier d. Measurement
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d. Measurement
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________ integration refers to the ability of companies to develop the social connections that will guide their interactions. a. Relationship b. Technology and planning c. Material and service supplier d. Measurement
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a. Relationship
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According to the customer relationship management process, firms should focus on ________ customers. a. lower-value b. frequent c. first time d. higher-value
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d. higher-value
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The supply chain can respond to customer's questions or complaints through: a. customer relations management process. b. demand management. c. customer service management process. d. product commercialization.
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c. customer service management process
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The ________ process ensures that each part of the supply chain has enough resources to do its part. a. returns management b. demand management c. manufacturing flow management d. supplier relations management
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c. manufacturing flow management
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The demand management process seeks to align ________ and demand. a. orders b. supply c. production d. service
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b. supply
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The ________ process involves a reversed flow of goods, from customer to producer, within the supply chain. a. returns management b. demand management c. manufacturing flow management d. supplier relations management
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a. returns management
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Which of the following is NOT a logistical component of the supply chain? a. production scheduling b. warehousing c. order processing d. offering rebates
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d. offering rebates
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The key goal of sourcing and procurement is to: a. customize products. b. reduce costs. c. manage inventory. d. increase sustainability.
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b. reduce costs
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A motorcycle shop builds each motorcycle after a customer orders it. This is an example of: a. sourcing and procurement. b. lean production. c. order processing. d. mass customization.
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d. mass customization
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Which of the following is an example of electronic distribution? a. the sale of produce in a supermarket b. a factory outlet store c. a web site that sells digital books d. a web site advertising home loans
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c. a web site that sells digital books
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A transportation firm decides to switch their fleet to hybrid engines and use recyclable materials for packing supplies. This is an example of: a. contract logistics. b. global logistics. c. transportation traceability. d. sustainable supply chain management.
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d. sustainable supply chain management
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The ________ is the pipeline through which products, their ownership, communication, financing and payment, and risk flow to the consumer. a. innovation pipeline b. value chain c. marketing channel d. market force
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c. marketing channel
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The intermediaries that operate between manufacturers and retailers are known as: a. merchant wholesalers. b. agents and brokers. c. resellers. d. consumers.
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a. merchant wholesalers
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Firms that sell primarily to consumers are known as: a. wholesalers. b. retailers. c. merchants. d. distributors.
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b. retailers
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________ functions include transportation, storage, accumulation and allocation of assets. a. Facilitating b. Transactional c. Distribution d. Logistics
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d. Logistics
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Dell computers are available directly from the producer, or from retail outlets such as Best Buy. This is an example of: a. wholesaler channel. b. dual distribution. c. strategic channel alliance. d. industrial distribution.
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b. dual distribution
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The loosest form of relationship among channel members is: a. arm's-length relationship. b. cooperative relationship. c. integrated relationship. d. exclusive relationship.
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a. arm's-length relationship
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Vertical conflict within a marketing channel occurs primarily between: a. manufacturer and retailers. b. consumers and employees. c. agents and brokers. d. competitors.
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a. manufacturer and retailers
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The Starbucks Coffee Company owns and operates thousands of stores in the United States. These stores are: a. franchises. b. chain stores. c. independent retailers. d. specialty stores.
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b. chain stores
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A store that sells only children's books can best be described as a(n): a. supermarket. b. specialty store. c. department store. d. off-price retailer.
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b. specialty store
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Stores that dominate a narrow merchandise segment, such as electronics, are known as: a. dominant retailers. b. factory outlets. c. category killers. d. supercenters.
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c. category killers
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________ is the use of the telephones to sell directly to consumers. a. Vending b. Direct retailing c. Telemarketing d. Direct mail
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c. Telemarketing
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________ refers to the assortment of products that a store offers. a. Width b. Depth c. Breadth d. Length
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a. Width
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During the holiday season, Toys 'R' Us opened several Holiday Express stores, small temporary locations that can best be described as: a. lifestyle centers. b. regional malls. c. store within a store. d. pop-up shops.
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d. pop-up shops
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Elements that affect a store's atmosphere include: a. sounds. b. merchandise density. c. fixtures. d. odors. e. All of the above.
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e. All of the above
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________ allows consumers to buy products using their PDAs or mobile phones. a. Wireless Internet b. M-commerce c. E commerce d. Interactivity
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b. M-commerce
