MKTG ch 3 & 8 – Flashcards
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All of the following are time periods that the U.S. economy experienced a period of recession except
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2010-2013. The U.S. economy experienced recessions from 1973-75, 1981-82, 1990-91, and in 2001. Most recently, a recessionary period began in 2007 and ended in 2009, becoming the longest in recent history.
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The total amount of money made in one year by a person, household, or family unit is referred to as __________ income.
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gross
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Regulation
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the restrictions that state and federal laws place on business with regard to the conduct of its activities.
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Culture refers to the
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set of values, ideas, and attitudes that are learned and shared among the members of a group.
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During a recessionary period, which of the following economic behavior would be expected?
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Consumer spending would decrease.
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Disposable income refers to
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the money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation.
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Americans born between 1977 and 1994 are referred to as
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Generation Y.
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Legislation that prohibits price-fixing is an example of __________ forces that affect the marketing environment.
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regulatory
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The use of coupons is a frequently used marketing tactic for which form of competition?
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monopolistic competition
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Baby boomers can be defined as the generation born
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between 1946 and 1964.
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Generation X consumers are
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generally supportive of racial and ethnic diversity.
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Culture is a component of what type of environmental force that must be scanned to assess its impact on the organization's marketing environment?
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social
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Most specifically, if a consumer's __________ increases, he or she is able to take advantage of the luxurious vacation travel opportunities offered on the Queen Mary 2, a cruise liner operated by Cunard.
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discretionary income
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Small businesses account for __________ of the gross domestic product (GDP).
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46 percent
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Recently, ink has been developed that will conduct electricity. The application for this ink is to print circuitry that can be read electronically. This may help to drive down the cost of radio frequency (RFID) tags that are currently used in industry. This is an example of how __________ forces are applied to industry.
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technological
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The purpose of the Robinson-Patman Act is to
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outlaw price discrimination for purchasers of the same product.
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Technology is defined as
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the inventions or innovations from applied science or engineering research.
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Generation X consumers indicate they want online customer support; websites that are comprehensive, professional, and interactive; and advertising that is authentic, family-oriented, and unique. Generation X is also replacing baby boomers as the largest segment of business travelers. In response, American Airlines is offering travelers in-flight Wi-Fi, entertainment on demand, and personal power ports. This is an example of how __________ forces impact the marketing environment.
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social
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Coca-Cola has hired brand police to make sure that the Coca-Cola brand name and logo are not used without written permission. Why is Coca-Cola so rigorous in protecting its trademark?
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In order to maintain the use of its widely recognizable trademark, Coca-Cola must prevent the name from becoming generic.
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Which of the following demographic trends has significant implications to global marketers?
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the size of the markets in India and China
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All of the following are idea generation methods except
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a mail survey: Idea generation methods include individual interviews, depth interviews, focus groups, and "fuzzy front end" methods such as trend hunting. Mail surveys are an idea evaluation method.
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"Why do you smoke cigarettes?" is an example of which type of question?
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open-ended
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Nielsen collects national TV ratings by using a "people meter." This is a box that is attached to televisions, DVRs, cable boxes, and satellite dishes in about 30,000 households across the country; has a remote control that is used to indicate when a viewer begins and finishes watching a TV program; and stores and then transmits the viewing information to Nielsen each night. The information Nielsen is collecting is referred to as
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observational data.
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Linear trend extrapolation is a form of trend extrapolation in which the
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pattern is always a straight line.
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A decision refers to
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a conscious choice from among two or more alternatives.
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All of the following are sources of primary data except
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government publications.
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In a question that was part of a Wendy's survey that assessed fast-food restaurant preferences among present and prospective consumers, respondents were required to select from one or more response options. This illustrates which type of question format?
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closed-end
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A(n) __________ involves starting with the last known value of the item being forecast, listing the factors that could affect the forecast, assessing whether they have a positive or negative impact, and making the final forecast.
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lost-horse forecast
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Drawing conclusions about a population from a sample taken from that population is referred to as
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statistical inference.
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The Journal of Marketing Research and the Journal of Marketing provide
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summaries of research methods and techniques valuable in addressing marketing problems.
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Marketing drivers are used with which of the four Ps?
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product's features, price, or promotion
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The field of marketing that studies the brain and its response to marketing stimuli is referred to as
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neuromarketing.
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A special kind of individual interview in which researchers ask lengthy, free-flowing kinds of questions to probe for underlying ideas and feelings is called a
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depth interview.
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What are the two most common constraints in marketing problem solving?
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limitations on the time and money available
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The second step of the marketing research approach is to
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develop the research plan.
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Obtaining primary and secondary data would take place during which step of the five-step marketing research approach?
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Collect relevant information.
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After defining the problem, the next step in the five-step marketing research approach is to
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develop the research plan.
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Consider how marketing researchers and managers use information technology to turn information into marketing actions. Marketing managers must use the combination of data, technology, and analytics to convert the data into useful information that will answer marketing questions and lead to effective marketing actions. Organizations that accomplish this successfully are often referred to as
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an intelligent enterprise.
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Which of the following statements concerning personal observation is most accurate?
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Personal observation is both useful and flexible, but has reliability issues if different observers watching the same event report different results.
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Sherrie sold about $800 worth of produce last weekend at a farmer's market, but it was sunny and warm both days. This Saturday and Sunday are both supposed to be rainy, so she thinks fewer people will attend. She estimates she'll only sell about three-fourths of her total for last time, or $600. This is an example of
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a lost-horse forecast: A lost-horse forecast involves starting with the last known value of the item being forecast, listing the factors that could affect the forecast, assessing whether they have a positive or negative impact, and making the final forecast.
