Question 1

Which segmentation method is most closely related to providing value by satisfying customers\' needs and wants?

Accepted Answer

Consumers will switch to less-expensive options for necessities.

Question 2

After World War II, the birth rate in the United States rose sharply, resulting in a generational cohort known as

Accepted Answer

the Baby Boomers.

Question 3

Virgin Atlantic hosts a service called Taxi2 to make it easier for passengers to share rides from the airport to their destination at a lower cost. In this way, Virgin Atlantic is responding to the social trend of

Accepted Answer

Thrift

Question 4

The social trend of _____ is causing consumers to question whether firms are truly operating with consideration for the environment or simply changing marketing efforts to appear that they are.

Accepted Answer

greener consumers

Question 5

When a firm evaluates how other companies react to the firm\'s marketing activities, it is attempting to understand what aspect of the immediate environment?

Accepted Answer

its competitors

Question 6

When McDonald\'s opened its fast food restaurants in European locations, it had to modify its product offering primarily due to differences in

Accepted Answer

country culture.

Question 7

Which of the following groups of people are referred to as Digital Natives?

Accepted Answer

Gen Z

Question 8

In New England, soft drink beverages are called \"soda\" while in many other parts of the country they are called \"pop.\" This is an example of the effects of

Accepted Answer

regional culture.

Question 9

Which of the following entities is at the center of the marketing environment?

Accepted Answer

Consumers

Question 10

The primary strength of Pepsi is the manufacture, distribution, and promotion of carbonated beverages. These describe which factor of a Pepsi consumer\'s immediate environment?

Accepted Answer

company capabilities

Question 11

The first generation of latchkey children, known as _____, includes those born between 1965 and 1976.

Accepted Answer

Gen Xers

Question 12

Consumers that have similar purchase behaviors because they have shared experiences and are in the same stage of life are known as a _____ cohort.

Accepted Answer

Generational

Question 13

Culture, demographics, social issues, technological advances, economic situations, and the political/regulatory environment are all factors that make up which of the following frameworks of analysis?

Accepted Answer

Macroenvironmental factors

Question 14

_____ involves a strategic effort by firms to supply customers with environmentally friendly merchandise.

Accepted Answer

Green marketing

Question 15

Ford Motor Company engages in partnerships with its suppliers, component part makers, unions, transport companies, and dealershipsâcollectively known as its

Accepted Answer

corporate partners.

Question 16

Advertising guidelines stating that companies cannot link unhealthy foods with cartoon and celebrity figures is geared toward which social trend?

Accepted Answer

health and wellness concerns

Question 17

_______ consumers in the United States have increasing influences on mainstream U.S. culture, and the buying power of this group is projected to reach $1.3 trillion in 2015.

Accepted Answer

Hispanic

Question 18

Firms that disingenuously market products as environmentally friendly with the goal of gaining public approval and sales, rather than actually improving the environment, are guilty of

Accepted Answer

greenwashing.

Question 19

Which of the following is NOT an example listed in your text of legislation that has been passed to protect consumers?

Accepted Answer

Retailers must honor price-match guarantees from other stores.

Question 20

Which of the following is NOT a demographic listed in your text that would typically be used to identify consumer markets?

Accepted Answer

Religion

Question 21

_____ involves the buyer considering his own personal knowledge about a product based on past experience.

Accepted Answer

An internal search for information

Question 22

When she was looking for a new car, Francesca was considering both American and foreign made vehicles, but her father and boyfriend both encouraged her to buy American-made brands. Which of the following social factors explain this type of influence?

Accepted Answer

Reference groups

Question 23

Angela considered all sporting goods stores to be roughly equivalent in most ways; however, she considered L.L. Bean to have an exceptional level of customer service. Customer service therefore would be considered a _____ for her in evaluating sporting good stores.

Accepted Answer

determinant attribute

Question 24

According to Maslow\'s Hierarchy of Needs, which of the following needs do people seek to meet first before meeting any other need?

Accepted Answer

Physiological

Question 25

A purchase decision that typically involves (at most) a moderate amount of effort and time is called

Accepted Answer

limited problem solving.

Question 26

Sometimes called buyer\'s remorse, _______ is the internal conflict that arises from an inconsistency between two beliefs, or between beliefs and behavior.

Accepted Answer

postpurchase cognitive dissonance

Question 27

When consumers are engaged in the consumer decision process, the specific brands or stores they can readily recall in a product category are referred to as their _____ set.

Accepted Answer

Retrieval

Question 28

Sandy thinks the east side of her city is a great area to own a home and raise a family. John thinks the east side has a lot of crime, poor schools, and would be a poor choice of location to own a home and raise a family. Sandy and John have different _____ regarding the east side of the city.

Accepted Answer

Perceptions

Question 29

The vast majority of products and services are likely to satisfy

Accepted Answer

both functional and psychological needs.

Question 30

When a manufacturer offers a money-back guarantee on the purchase of its products to show that the products will perform as expected, it is most likely attempting to alleviate which risk?

Accepted Answer

Physiological

Question 31

The discrepancy between a consumer\'s actual state and desired state is associated with which of the following steps in the consumer decision process?

Accepted Answer

Need recognition

Question 32

Kerry was in her grocery store and saw a display for a new organic yogurt. She had not planned to buy it, but decided on the spot to buy one and try it. Kerry\'s purchase represents

Accepted Answer

impulse buying.

Question 33

Marketers that set unrealistically high consumer expectations of a product through advertising or other types of promotion may generate higher initial sales, but it will eventually lead to _____ if the product fails to achieve these expectations.

Accepted Answer

opostpurchase dissatisfaction

Question 34

Whenever Meredith buys toothpaste, she always automatically reaches for the same brand and puts it in her shopping cart with no thought or effort. Meredith is engaged in

Accepted Answer

habitual decision making.

Question 35

When Catherine was considering different brands of jeans to buy, she could only think of three she would actually consider purchasing. These three brands make up her _____ set.

Accepted Answer

evoked

Question 36

When John was considering buying a new car, he sought out unbiased information and ratings about different makes and models in Consumer Reports magazine as well as from Edmunds.com. Which of the following corresponds most closely to this aspect of the decision process?

Accepted Answer

External search for information

Question 37

Alternative evaluation often occurs while the consumer is engaged in which of the following steps of the consumer decision process?

Accepted Answer

Information search

Question 38

External agencies and government bodies publish safety ratings for cars to help consumers alleviate _____ risk.

Accepted Answer

Physiological

Question 39

According to the consumer decision process, after consumers recognize the need for a product, they then engage in

Accepted Answer

an information search.

Question 40

Ethan considered three important attributes when deciding where he would do his banking: the convenience of the location, hours of operation, and interest rates for CDs. In this situation, these three attributes are called

Accepted Answer

evaluative criteria.

Question 41

_____ reflects the link between consumers\' demand for a company\'s product and the company\'s purchase of necessary inputs to manufacture or assemble that particular product.

Accepted Answer

Derived demand

Question 42

The business-to-business buying process is initiated by which of the following steps?

Accepted Answer

Need recognition

Question 43

When Kinko\'s replenishes its supply of copy paper, it most likely involves a _____ situation.

Accepted Answer

straight rebuy

Question 44

John is involved in the buying center of a large organization. He ultimately will determine whether to buy, what to buy, how to buy, or where to buy. What role does John play in this situation?

Accepted Answer

Decider

Question 45

The purchase of capital equipment by a company, which would likely be quite an involved process, is an example of a _____ situation.

Accepted Answer

new buy

Question 46

Pharmaceutical companies have been criticized for direct-to-consumer television ads promoting the use of their brands of medication for specific medical conditions. With respect to buying centers, the pharmaceutical company plays the role of _____ in this situation.

Accepted Answer

Influencer

Question 47

With its estimated outlay of over $500 billion dollars for fiscal year 2014, the Pentagon represents which type of B2B organization?

Accepted Answer

Government

Question 48

In this stage of the business-to-business buying process, firms are likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale.

Accepted Answer

Proposal analysis, vendor negotiation, and selection

Question 49

In a _____ situation, the buying center is likely to proceed through all six steps in the buying process and involve many people in the buying decision.

Accepted Answer

new buy

Question 50

In _____ buying centers, all members of the team must reach a collective agreement that they can support a particular purchase.

Accepted Answer

Consensus

Question 51

What is the final stage in the business-to-business buying process?

Accepted Answer

Vendor performance assessment

Question 52

The acronym RFP, when used by those involved in business-to-business buying, stands for

Accepted Answer

Request For Proposals.

Question 53

Which of the following is NOT one of the six buying center roles?

Accepted Answer

Advisor

Question 54

Most B2B buying situations can be categorized into three types: new buys, straight rebuys, and

Accepted Answer

modified rebuys.

Question 55

Which of the following is an example of a reseller?

Accepted Answer

Wholesaler

Question 56

In terms of business markets, organizations like hospitals that provide goods and services to people in their care are classified as

Accepted Answer

institutions.

Question 57

Which of the following statements regarding the B2B buying process is TRUE?

Accepted Answer

In the B2B buying process, the search for information and evaluation of alternatives is more formal and structured.

Question 58

In B2B markets, _____ are firms that buy and reprocess products and services before selling them again to the next buyer.

Accepted Answer

Manufacturers

Question 59

The individual who controls the flow of information or access to important decision makers serves as the _____ in the buying center.

Accepted Answer

Gatekeeper

Question 60

Autocratic buying centers are characterized by

Accepted Answer

a single decision maker.

Question 61

A manufacturer of t-shirts concentrates all its efforts on cost containment by offering the product in only one size but in a variety of colors, using a one-size-fits-all approach. This involves a _____ targeting strategy.

Accepted Answer

mass marketing

Question 62

Which segmentation method is most closely related to providing value by satisfying customers\' needs and wants?

Accepted Answer

Benefit

Question 63

When an organization selects a single, primary target market and focuses all its energies on providing a product to fit that market\'s needs, it is using a(n) _____ targeting strategy.

Accepted Answer

Concentrated

Question 64

Behavioral segmentation based on when a product or service is purchased or consumed is called _____ segmentation.

Accepted Answer

Occasion

MKT 3400 Test 2 (Chpt 5,6,7,9)

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