Review Test 1

Created by sarahjupiter 

Upgrade to
remove ads

40 terms

The rule of thumb for college level work is that to be successful, you should be putting in _________ hours outside of class for every hour in class?

2 to 3

The best way to approach this class is to:

There is no "best" way to approach this class. It is designed so that each student can find the combination of content delivery, test taking, and interaction that meets his or her objectives for taking the class.

The four 'P's are?

The marketing mix variables we use to create need-satisfying offerings.

What do we mean when speak of an organization's stakeholders?

Any individual or organization that is affected by what the company does and how well it performs

What is the difference between a relationship and an exchange?

Relationship marketing takes a longer-term perspective than exchange marketing.

Which of the following typically a responsibility of the marketing function in an organization?

Create need-satisfying offerings

Grocery stores frequently put items such as candy bars or chewing gum next to the check-out lines. The reason is that simply seeing the candy display may make a consumer hungry for a candy bar. This tactic tends to affect consumers at the ________ stage of the consumer buying process.

Need recognition

Which of the following statements about a consumer is FALSE?

Consumers have similar tastes

Jin is shopping for clothes for school. He is very self confident and knows and trusts his classmates. Still, he would like to look nice on the first day. Jin is likely to use ________ problem solving as he purchases a new shirt for school?

Limited

Which of the following statements about the consumer buying process is TRUE?

The customer decides whether he/she is truly satisfied with the product after the decision has been made.

You may take each mini test ___________ time(s) during the period it is available.

unlimited

What concept was the instructor trying to illustrate when he discussed the "stupid customer" syndrome?

That manufacturers of products tend to focus on the features they build into a product rather than on the customer's perception of value.

Which of the following is a condition necessary for exchange to occur?

Voluntary participation.

By definition, Marketing is an organizational function and a set of processes for creating, communicating, and delivering ______________ and for managing customer relationships in ways that benefit the organization and its stakeholders?

Value to customers

Which of the following statements about the number of alternatives identified in the consumer buying process is FALSE?

Memory based searches will usually identify more alternatives than external searches

Marketers of ___________ and __________ products have to use intrusive advertising in order to make consumers aware of them at the appropriate point in the consumer buying process?

New, unsought

Which of the following is NOT a concern during the purchase stage of the consumer buying process?

Identifying all of the alternative products available.

The second stage of the consumer buying process is?

Information search.

If you need to communicate with the instructor about the class, the only "official" mode of communication is?

Email.

Many students are confused by the structure of this class. You have the option of viewing the lectures any time, but viewing the lectures is not required. You may take the tests whenever you want during a two-week window. A common mistake is to assume that because the class is convenient, it must be __________ and you can take __________. This is not usually true.

Easy, shortcuts

Which of the following is a condition necessary for exchange to occur?

A means of communication

According to the material presented in class, marketing can be thought of as a(n) __________________ or as a(n) _____________________?

Philosophy, business function

Which of the following is a condition necessary for an exchange to occur?

There must be at least two parties involved.

_________ utility is associated with the physical or chemical changes that make a product more valuable

Form

What do marketers mean when they speak of involvement as it relates to the consumer buying process?

The financial, social and psychological risk of the purchase to the person

Jill has been sitting through Professor Robertson's class for almost an hour now. She didn't have time for breakfast because... well just because. It is now almost eleven o'clock and she realizes that she is very hungry. This is an example of _________ need recognition that the professor was talking about in class?

Internal

What was your instructor talking about when he mentioned a 'consideration set' during the lecture on the consumer buying process?

The subset of the alternatives identified during the search phase that the consumer evaluates before making a decision.

Tran has just completed a research project for his boss. He reviewed the political, legal, environmental and competitive factors that might have an impact on his company's ability to launch a new product. Which of the major marketing functions was Tran doing?

Listening to the market.

Which of the following is an example of "listening" to the market?

Sandra reviews the J.D. Powers quality report for her product

According to your instructor, one of the things that makes the concept of value interesting to marketers is that:

Customers do not always perceive all of the costs or all of the benefits associated with a product

Which of the following statements about value is FALSE?

Customers who fail to perceive the true benefit of a product may have an incorrect perception of its value to them.

Bruce just purchased a new dishwasher for his home. It was a pretty expensive purchase for him and he had spent several days researching alternatives. After the dishwasher had been installed and was working properly, Bruce found that he couldn't sleep that night because he was worrying whether he had spent too much money on the dishwasher. This is a classic case of?

Buyer's remorse.

What is the "pain threshold" for gadget buyers your textbook mentions?

Gadget buyers will try to figure out a confusing new product for about 20 minutes before giving up and returning it.

Which of the following is an expected outcome of the consumer buying process?

All of these are expected outcomes of the consumer buying process.

Principles of Marketing is a three credit hour class. The rule of thumb for college level work says that (in addition to viewing the lectures) if you want to succeed in this class you should be spending _________ additional hours studying each week?

6-9

Which of the following is NOT a strategy to increase customer value as discussed in your textbook?

Avoid intrusive advertising.

What is the difference between a relationship and an exchange?

In a relationship, the transaction is influenced by the history of previous transactions, in an exchange the transaction stands on its own merits.

What is the difference between a need and a want as discussed in class?

A need is a perceived lack of something, a want is a culturally defined way to satisfy the need

Perla is trying to decide which of two plasma television sets she should purchase. One is more expensive than the other, but it has better resolution. Sound quality is the same on both television sets. They both come with remote controls, but Perla rarely uses a remote control so it is not a factor in her decision. Perla is using __________ to make the decision?

Multiple criteria

Sergio is the head designer for 'Robertson House' a high-fashion clothing company. Each year, Sergio completely changes the colors of the clothes he designs so that it will be obvious to anyone who has fashion sense that last years colors are out of date. This "planned obsolescence" tends to affect consumers at the _________ stage of the consumer buying process.

Need recognition

Please allow access to your computer’s microphone to use Voice Recording.

Having trouble? Click here for help.

We can’t access your microphone!

Click the icon above to update your browser permissions above and try again

Example:

Reload the page to try again!

Reload

Press Cmd-0 to reset your zoom

Press Ctrl-0 to reset your zoom

It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.

Please upgrade Flash or install Chrome
to use Voice Recording.

For more help, see our troubleshooting page.

Your microphone is muted

For help fixing this issue, see this FAQ.

Star this term

You can study starred terms together

NEW! Voice Recording

Create Set