Test 2 (Ch. 5-9) – Flashcards

People who control the flow of information in the buying center, such as technical experts and secretaries, can keep salespeople and information from reaching others in the buying center and are referred to as __________. influencers gatekeepers power-brokers obstructionists deciders

Intangible items such as airline trips, financial advice, or telephone calls that an organization provides to consumers are referred to as: services. support products. production goods. goods. benefits.

Set during the marketing research process, __________ are the specific, measurable goals the decision maker seeks to achieve in conducting the marketing research. research objectives research constraints hypothetical scenarios measures of success marketing research plans

The emphasis of a marketing strategy for a continuous innovation concentrates on: obtaining widespread distribution. generating awareness. using reminder advertising to reeducate consumers. using personal selling. setting a low price.

When expenses are greater than the potential increased sales from market segmentation, a firm should: - not consider market segmentation at this time. - discontinue manufacturing any products that are not in the mature stage of their product life cycle. - combine departments within the company to make the process more streamlined. - seek alternate channels of distribution, including Internet sales. - reduce production costs or increase prices to facilitate the segmentation process.

Marketing synergies often come at the expense of product synergies because: - no company can afford to do both at the same time. - product synergies are more effective for penetrating a market rather than creating one. - it is easier to change a product than to completely develop a new marketing plan. - a single customer segment will likely require a variety of products. - multiple market segments usually require multiple products.

A market-product grid refers to: - a visual representation of all products offered within a specific product class. - a framework used to compare the relative market share of one firm's product offerings to those of its competitors. - a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products. - a framework used to relate the market segments of potential buyers to products offered or potential marketing actions by an organization. - a technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

The North American Free Trade Agreement was designed to encourage free trade between: - the United States, Canada, and Mexico. - the United States and the European Union. - North America and the Commonwealth of Independent States. - member countries originally from NATO (North Atlantic Treaty Organization). - North America, Central America, and South America.

Four general categories used to segment consumer markets are geographic segmentation, demographic segmentation, __________, and behavioral segmentation. supplier segmentation product segmentation psychographic segmentation regional segmentation demand segmentation

When a firm produces only a single product or service and attempts to sell it to two or more market segments, it avoids __________. - creating a customer service gap - indirect distribution and logistics problems - the extra cost of developing and producing additional versions of the product - amortization costs of product enhancements - restructuring the firm's strategic planning

Marketing researchers use tracking studies immediately before an upcoming film's release to: - identify any factual errors or inconsistencies in the storyline. - make changes to the movie's release based upon professional critics' reviews. - select the best geographical location for the movie's premiere. - nominate specific actors or actresses for industry awards. - forecast a movie's opening weekend box office revenues.

Market segmentation refers to: - sorting prospective buyers into groups that are willing (or not) to pay more than the cost of production for a good or service. - the philosophy that to do a truly excellent job of marketing, a company should concentrate only one customer segment at a time. - disaggregating prospective buyers from groups into segments of one (individuals) and creating specific products that will satisfy each individual's unique needs. - aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action. - the belief that it is possible to satisfy every customer's needs if you can identify the correct segment within which they belong.

Which of the following organizational buyers purchases raw materials and parts to reprocess into the finished goods they sell? agents manufacturers retailers ultimate consumers wholesalers

Cross-cultural analysis refers to the study of: - buying behaviors within a given nation to identify similarities and differences. - similarities and differences among consumers in two or more nations or societies. - buying behaviors within a given nation that links a person's actions to the cultural group with which he or she identify most. - the set of values, ideas, and attitudes that are learned and shared among the consumers of a country. - the subgroups within the larger, or national, culture with unique values, ideas, and attitudes.

Mechanical, personal, or neuromarketing methods are ways that __________ data can be collected. virtual primary source observational statistical hypothetical

In an effort to make better and more efficient purchase decisions, the Ford Motor Company forms loosely organized groups of people who work together on purchase decisions. The people included in these groups change depending on the purchase situation and may include key personnel from various departments, including research and development, finance, marketing, shipping, and sales. Such a loosely organized group of people within an organization who are involved in the purchase decision is called an organizational: buying center. purchasing unit. selling committee. buying committee. sustainable procurement department.

Segmentation based on some observable actions or attitudes by prospective customers, such as what benefits they seek, as well as where, how frequently, and why they buy, is referred to as: geographic segmentation. behavioral segmentation. demographic segmentation. socioeconomic segmentation. psychographic segmentation.

The final step in the five-step marketing research approach includes making action recommendations, implementing action recommendations, and __________. - making sales or profit projections for the coming year(s) - doing an environmental scan - identifying possible opportunities for growth - increasing or decreasing production based upon research collected - evaluating the results

Marketers need to understand their firms' buying centers. A series of questions can be used to facilitate this process. Which of the following questions would be the LEAST USEFUL when trying to understand the operations of a buying center? - "What is the relative influence of each member of the group?" Option 2 - "What are the buying criteria of each member?" Option 3 - "What criteria were used to select the members of the buying center?" Option 5 - "Which individuals are in the buying center for the product or service?" Option 1 - "How does each member of the group perceive our firm, our products and services, and our salespeople?" Option 4

A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is referred to as __________. a service merchandise a product a widget an idea

The process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization's marketing program. self-regulatory industry standards top-level management controllable environmental factors government regulations buyers' or market needs

The practice of __________, which can affect the normal operation of the free market and limit the flexibility of buyers, is occasionally addressed in the ethics codes of companies or their purchasing policies. reciprocity tying agreements just-in-time procurement supply partnerships quid pro quo

A durable good is defined as a(n): - item that lasts at least one year without becoming obsolete. - item consumed in one or a few uses. - product purchased only for the use of ultimate consumers. - product used in the production of other products. - item that usually lasts over an extended number of uses

Protectionism refers to: - a form of domestic imperialism that holds that only those products manufactured within one's home nation are of sufficient quality to warrant purchase. - the practice of purchasing products exclusively from a foreign developing country in order to develop its industries and economic infrastructure. - the practice of purchasing products exclusively from a domestic market in order to shore up a nation's economy. - the use of tariffs, quotas, and boycotts with the express intention of putting foreign competitors out of business. - the practice of shielding one or more sectors of a country's economy from foreign competition through the use of tariffs or quotas.

In terms of price, which of the following type of consumer product would most likely be relatively inexpensive? shopping product supplies convenience product unsought product specialty product

Which of the following types of firms comprises an industrial market? wholesaling federal regulatory agencies transportation state governments retailing

A quota refers to: - a minimum requirement for the purchase of specific products or services between two nations. - a restriction placed on the amount of a product allowed to enter or leave a country. - government payments to companies or industries that serve to lower costs and provide a competitive advantage to domestic industries. - a government tax on goods or services entering a country that primarily serves to raise prices on imports. - a refusal to purchase or exchange goods or services with another nation unless certain financial or ideological requirements have been satisfied.

Setting research objectives and identifying possible marketing actions that might result from the research would take place during which step of the five-step marketing research approach? obtain secondary data define the problem develop findings develop the research plan collect relevant information

The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as: product repositioning. competitive positioning. selective perception. product positioning. relative positioning.

A market-product grid is a framework to relate the __________ to products offered or potential marketing actions by an organization. market share of the closest competitor market segments of potential buyers marketing objectives of potential products total anticipated revenue total anticipated profit

Industrial products are also referred to as __________ products. organizational manufacturing resale merchandise business

Online trading communities that bring together buyers and supplier organizations to make possible the real time exchange of information, money, products, and services are referred to as: webfronts. e-marketplaces. X-changes. e-commerce marketspaces. iCommerce.

Secondary data are the: - conclusions developed from information obtained from a representative sample of a population. - facts and figures that have already been recorded before the project at hand. - facts and figures obtained by watching people mechanically rather than in person. - facts and figures obtained by asking people questions through the use of information technology. - facts and figures that are newly collected for the project at hand.

What marketing metric determines whether a TV program like American Idol remains on the Fox broadcast TV network? frequency poll cost per ad appeal rating

Making action recommendations, implementing action recommendations, and evaluating results take place during which step of the five-step marketing research approach? define the problem take marketing actions develop findings collect relevant information develop the research plan

Business marketing refers to: - the marketing of products to companies, governments, or ultimate consumers for use in the creation of goods and services. - the marketing of products and services to not-for-profit organizations at a reduced fee or nominal cost for use in the creation of goods and services that they can produce and market to others. - the marketing of products and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others. - the marketing of an idea to create interest or generate goodwill, not just for an individual brand but also for an entire industry or product class. - the marketing of services in the area of intellectual property such as legal, financial, or creative consulting.

According to the Apple market-product grid above, Apple would most likely get the LEAST product synergies from the: iMac and Mac Mini. Mac Pro and iMac. Mac Pro and Mac Mini. Mac Pro and MacBook Pro. Mac Pro and MacBook Air.

A global brand refers to: - a brand that is essentially the same but that has had minor adaptations made to meet the more specific needs of different nations. - two or more domestic products that coincidentally share the same brand name but represent two completely unrelated products. - two or more international products that coincidentally share the same brand name but represent two completely unrelated products. - a brand marketed under different names in multiple countries with similar and centrally coordinated marketing programs. - a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs.

A decision refers to: - a premeditated selection resulting in a personal action. - a subconscious selection of the alternative most consistent with one's personal beliefs. - an unconscious choice selected from a subset of positive alternatives. - a conscious choice among a set of alternatives that creates the least amount of risk. - a conscious choice from among two or more alternatives.

Derived demand means the demand for industrial products and services is driven by, or derived from, the: demand for consumer products and services. gross national product. demand for industrial products and services. NAICS statistical models. demand for government products and services.