Exam 2 Practice quiz

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Ernst Engel's laws generally have been supported by recent studies. He discovered that as family income rises, the percentage spent on ________ declines and the percentage spent on ________ remains about constant.

food; housing

Which of the following descriptions most accurately characterizes the baby boomers?

they hold 75% of the country's financial assets

Which demographic group is also referred to as the echo boomers

Millennials

Marketers can take a/an __________ by taking aggresive ction

Proactive stance

A society's basic values, perceptions, preferences, and behaviors are all part of its ________ environment.

Cultural

Consumer organizations and environmental groups are examples of ________ publics.

Citzen- Action

If baby boomers are predictors of where product and service demand will be, increased demands will most likely be evident in ________ in the coming years.

Financial Services

All of the groups within a company are called the ________.

Internal Enviorment

The recent rash of business scandals and increased concerns about the environment have created fresh interest in the issues of ________ and ________.

Ethics; social responsibilty

Banks, credit companies, insurance companies, and other businesses that help finance transactions or insure against the risks associated with the buying and selling of goods and services are referred to as ________.

Financial Intermediaries

Which of the following descriptions most accurately characterizes Millennials?

They are childrn of baby boomers

In 1950, women made up less than 40 percent of the workforce; now they make up ________.

59%

Which demographic group was once labeled "the MTV generation" but has become the most educated generation to date?

Gen X

Which of the following descriptions most accurately characterizes Gen Xers?

First gen latchkey kids

Marketers should be aware of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society. This is the ________ environment.

Political

A society's ________ are expressed in how people view themselves, organizations, society, nature, and the universe

Cultural Values

company or association's ________ is designed to help guide responses to complex social responsibility issues.

Code of ethics

Because of the scarcity of good secondary data, international researchers often must collect their own primary data. An initial problem with this collection is developing good ________.

Samples

Consumers are most likely to willingly provide research information when researchers provide which of the following?

Value for Exchange

For secondary data to be useful to marketers, it must be relevant, current, unbiased, and ________.

accurate

It is most accurate to say that secondary data are ________.

not always very usable

Marketers must weigh carefully the costs of additional information against the ________ resulting from it.

benefits

Four common sources of internal data supplied to internal databases include the accounting department, operations, the sales force, and the ________.

marketing department

InIn CRM, findings about customers discovered through ________ techniques often lead to marketing opportunities.

data mining

Carls Jr. came out with a new hamburger and released it in two different cities with two different price points. Marketers at Carls Jr. then analyzed the different levels of purchase made at the two different price points, planning on using the information to set a nationwide price for the new offering. This is an example of ________.

experimental research

Marketing researchers usually draw conclusions about large groups of consumers by studying a small ________ of the total consumer population.

Sample

Ethnographic research ________.

is gathered where people live and work

Which of the following is an example of a free online database that a company could access in order to develop marketing intelligence?

U.S. Security and Exchange Commission's database

Cultural differences, especially those involving language, can add to research costs in foreign markets and can increase the ________.

risk of error

After a research instrument is selected, the next step in the marketing research process is ________.

implementing the research plan

Which of the following is the best advice about creating research questionnaires?

Use simple and direct language.

Which type of research would be best suited for identifying which demographic groups prefer diet soft drinks and why they have this preference?

descriptive research

Wal-Mart sends a trained observer to watch and interact with customers as they shop in a Wal-Mart store. This is an example of

ethnographic researc

The most common research instrument used is the ________.

questionnaire

Marketing information is only valuable when it is used to ________.

make better marketing decisions

Small organizations can obtain, with minimal effort and cost, most of which type of data available to large businesses?

secondary

Bill thought he had received the best deal on his new car. Shortly after the purchase, Bill started to notice certain disadvantages of his new car as he learned more about other cars available. Bill is experiencing ________.

Cognitive dissonance

Generation Xers, who were born between 1965 and 1976, share the childhood experiences of higher parental divorce rates, recession, and corporate downsizing. They tend to care about the environment and value experience over acquisition. Generation Xers make up a ________.

Subculture

________ describes changes in an individual's behavior arising from experience

...Learning

Relative advantage, compatibility, complexity, divisibility, and communicability are all examples of _______

Prouduct characteristics that influence rate of addaptation

Companies who use brand ambassadors are participating in ________.

Buzz Marketing

Consumers learn about new products for the first time and make the decision to buy them during the ________.

Adoption Process

After purchasing a product, the consumer will be satisfied or dissatisfied and will engage in ________.

PostPurchase Behavior

facebook.com and YouTube are examples of ________.

Social Network

Donna wants to buy a new coat. During the ________ stage of her purchase process she asked her friends to recommend a store and/or a style of coat. She searched the newspaper for coat sales, and she visited nearby stores to see what is available in her price ra

Information Research

The marketer wants to understand how the stimuli are changed into responses inside the consumer's ________, which has two parts: the buyer's characteristics that influence how he or she perceives and reacts to the stimuli and the buyer's decision process itself.

Black Box

Opinion leaders are sometimes referred to as ________.

The Influentials

A buyer's decisions are influenced by ________ such as the buyer's age and life-cycle stage, occupation, economic situation, lifestyle, and personality and self-concept.

Personal Charateristics

Which statement is true regarding social class in the United States?

Social Classes show distinct prouduct prefrences i clothing and automobiles

A problem with the rapidly expanding use of e-purchasing is that it ________.

Can erode established customer - supplier relationships

The consumer market is made up of which of the following?

c. Social classes show distinct product preferences in clothing and automobiles.

People change the goods and services they buy over time because of the two changing factors of __

age and life cycle stage

Some consumers worry that they will be affected by marketing messages without even knowing it. They are concerned about ________ advertising

Subliminal

Maslow's theory is that ________ can be arranged in a hierarchy.

Human Needs

A shoe company uses ads featuring the members of a country music band with the hope that the band's fans will see them wearing the company's shoes and want to wear the same shoes. The shoe company is hoping that fans of the band view the band as a ________.

Refrence Group

________, the fastest-growing U.S. demographic segment, now number more than 46 million.

Hispanics

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