Mar 3023 -exam 2 - thru quizzes

109 terms by mgockwell

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Brenda wants a new car that will be dependable transportation and look good. She wants to satisfy both functional and psychological needs.

True

When making an important purchase, consumers often consult friends and family. This is considered an external search for information.

True

As manager of a local donut shop, Arnie greets his regular customers by name and often begins making their order when he sees them drive into the parking lot. Arnie knows habitual purchasers with strong store loyalty are great customers.

True

By producing motorcycles that do more than get riders to their destinations and back, Harley-Davidson is addressing consumers'__________________ needs.

functional and psychological

Generally, people buy one product or service instead of another because they:

perceive it to be the better value for them.

Firms hope that helping consumers to learn more about a company and its products will affect consumers':

attitudes.

Most "big box" retailers regularly move products from one aisle to another. They also put personal care products in the pharmacy area, many aisles away from the grocery products. They do this because consumers who spend more time walking through the store are likely to make:

impulse purchases.

When John and Dorothy go out to dinner, they look for unusual wines on the wine list. Experience has taught them that unusual wines are often personal favorites of the restaurant owner and can offer a special experience. John and Dorothy have their own ________________ when choosing wines.

decision heuristic

Stuart wanted to impress Janet with the perfect engagement ring. He had been saving money for months, and he noticed his attitudes and perceptions about diamond rings changing as he began paying attention to ads for rings. Marketers call this process:

learning.

There are five types of risks associated with purchase decisions. Which of the following best describes a situation where your new car stalls in the middle of a busy intersection?

Physiological risk

Kathy has naturally curly hair and has often been disappointed with the haircuts she has received. When she moved to a new town, she approached her new office mates and several strangers with curly hair and asked them where they had their hair cut. She chose to spend considerable effort finding a new hair stylist based on the ____________ associated with her purchase decision.

performance risk

Joanna lives according to her own rules, unconcerned about designer labels, brand names and luxury items. Joanna is at what level in Maslow's Hierarchy of Needs?

Self-actualization

Consumers consider universal, retrieval, and evoked sets during which stage of the consumer decision process?

Evaluation of alternatives

Upscale men's and women's clothing stores primarily appeal to consumers'______________ needs.

psychological

Store atmosphere factors such as ____________ can influence consumers' purchase decisions.

lighting, scents, music & color

Brenda always buys Sears Kenmore appliances. She believes that the Kenmore brand offers good quality and value and does not consider alternatives. Brenda uses ______ to select appliances.

a decision heuristic

Maslow's Hierarchy of Needs includes physiological needs at the lowest level and self-actualization at the top. The three levels in between are:

safety, love and esteem.

To attract and maintain habitual purchasers, marketers spend considerable effort:

creating strong brands and store loyalty.

When Brandon decided he needed a new car, he immediately called his old college roommate who owns a BMW dealership to ask questions about options and financing. Brandon was searching for information from:

an external source.

Most B2B buying situations can be categorized into three categories: new buys, structured rebuys and automatic rebuys.

False

Bob Roberts founded Robertico, an equipment leasing company, three decades ago. Although he is now in his seventies, he still has a "hands on" management style. His employees have learned that there isn't much point in making purchase recommendations for new equipment, because Bob is going to choose whatever he thinks is best regardless of their views. Robertico has a(n) ________ buying center culture.

autocratic

What type of B2B organization is a retail store such as T.J. Maxx?

Reseller

Phil put down the phone and told Alice, "I just love that customer. I got another big order, and they just keep on coming." Phil is likely selling to a firm in what kind of buying situation?

Straight rebuy

When a business buyer decides to change specifications such as quality or options associated with products he or she has purchased in the past, the buyer is engaged in a(n) __________ situation.

modified rebuy

In a(n) _________________ situation, the buyer has purchased a similar product in the past but has decided to change some specifications.

modified rebuy

Most B2B buying situations can be categorized as new buys, modified rebuys, and:

straight rebuys.

Collin wants information about the infrastructure in the countries his company is planning to export to. He will gather information about the transportation and communications capabilities in each country.

True

Tariffs artificially lower prices and therefore lower demand.

False

During the early stages of globalization, in the 1950s and 1960s, _______________ were uniquely positioned because they had the skills necessary to develop, promote, and market brand name consumer products.

large U.S. firms

When a company decides to minimize risk and enter a global market by shipping its products to buyers in other countries, this is known as:

exporting.

GDP is defined as:

the market value of goods and services produced in a country in a year.

Globalization refers to the process by which goods, services, capital, people, and ideas:

flow across national borders.

Domestic firms developing a global entry strategy might consider franchising; however, the disadvantages need to be considered. Which of these is NOT a disadvantage of franchising?

Franchising is the riskiest way to enter a foreign market.

Which of the following must be taken into consideration by a food company, such as Kraft, when entering a global market?

Food companies must adjust their approaches to global markets by recognizing their unique characteristics and consumer demands.

China, like many other countries, usually requires entering firms to create _________ when expanding into their markets, limiting outsiders' control of businesses.

joint ventures

The most common measure of market potential of an economy is a country's:

GDP.

Business-to-business marketing refers to buying and selling goods or services to be used by final consumers.

False

A buying center whose members reach a decision based on a collective agreement is known as an autocratic buying center.

False

While consumers weigh postpurchase dissonance, business buyers:

conduct vendor analysis.

When she gave her presentation to Harmon's Automotive Supply, Brie did not know the roles of the key players in the buying center. This could cause her to waste a lot of time and to:

alienate the real decision maker.

The first stage of the B2B buying process is:

need recognition.

Which of the following circumstance might trigger a modified rebuy instead of a straight rebuy?

need recognition.

Phil put down the phone and told Alice, "I just love that customer. I got another big order, and they just keep on coming." Phil is likely selling to a firm in what kind of buying situation?

Straight rebuy

The buying decision is likely to be more complex and take longer to complete in a(n) ___________ B2B buying situation.

new buy

Malcolm buys overrun clothing from factories around the South. He sells the clothes to discount retailers. Malcolm is a:

reseller

The North American Free Trade Agreement created an economic and monetary union among the three countries.

False

Global pricing strategy is simplified by pricing the product or service the same way they do in the home country.

False

Marketers use Hofstede's cultural dimensions to design marketing campaigns:

consistent with underlying cultural values in a country.

China, like many other countries, usually requires entering firms to create _________ when expanding into their markets, limiting outsiders' control of businesses.

joint ventures

One criticism of the _______________ is that it loans too much money to third-world countries, making it almost impossible for these countries to pay back the loans.

World Bank

India's Panaloon Retail succeeded when:

gave up on its modern presentation and emulated noisy, messier and more cramped presentations.

Globalization refers to the process by which goods, services, capital, people, and ideas:

flow across national borders.

Which of these represents the highest level of integration among participating nations, involving both economic and monetary agreements?

EU

The primary criticism of the World Bank is that it is a puppet of Western industrialized countries that:

use World Bank loans to promote their globalization efforts.

In recent years, the decline in the value of the dollar has helped U.S. marketers:

exporting

Coca-Cola launched Coke Zero to avoid cannibalizing current sales and to attract new customers in a segment they might not get with Diet Coke.

True

Automobile manufacturers do not manufacture cars specially designed for very tall people, as this segment is not substantial.

True

Marketers often create a special marketing mix for loyalty segments because these segments are:

usually quite profitable.

____________________ segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach.

Demographic

Sally is in the new marketing department of a mid-sized lawn and garden company. She is working on the first marketing plan the firm has ever used. She has defined the mission and objectives, and she just finished a situation analysis for the firm. The next step is to:

identify and evaluate opportunities by conducting segmentation, targeting and positioning analysis.

When evaluating the attractiveness of the segment, if a segment is expected to react positively to the firm's offering, we say that the segment is:

responsive

Firms use a differentiated targeting strategy because:

it helps to obtain a bigger share of the market.

Geodemographic segmentation can be particularly useful for ____________, because customers typically patronize stores close to their neighborhood.

retailers

The Marketing Research Process follows five steps, and in order to be effective they must be followed in order without omitting any steps.

False

One of the benefits of marketing research is it reduces the uncertainty under which managers make decisions.

True

Which of the following statements best describes secondary data?

Secondary data are pieces of information that have been collected prior to the start of the focal research project.

Cheryl and Jim are working on a research project to anticipate customer attitudes toward a proposed new product line for their company. They have worked with the marketing manager to determine the answers that are needed, and have created a detailed design of the project. Their next logical step will be to:

begin to collect data.

A restaurant chain is working on improving the quality of its food and service. It recruits customers who agree to respond to customer satisfaction surveys once every three months over the next two years, in order to track its progress. What kind of data is the restaurant chain collecting?

Panel data

After a year in business, Tyrone hired a market research company to analyze his sales data and tell him which groups of customers were the most profitable to his firm. Tyrone will probably use the results of this research to:

any of these.

Retail checkout scanning systems create a tremendous amount of purchasing information usually stored in a company's:

data warehouse.

In questionnaire design, a question such as, "When will the technology exist to allow humans to live on Mars?" suffers from the problem of a question:

that is complex and something respondents may be unfamiliar with.

Just as marketers create value by meeting the needs and wants of consumers, market researchers create value if:

the results will be used in making management decisions.

American consumers' concerns about ______________ have led to a variety of government protections including the "Do Not Call" list.

privacy

Automobile manufacturers do not manufacture cars specially designed for very tall people, as this segment is not substantial.

True

A self-values map displays the position of products or brands in the consumer's mind.

False

When selecting a target market, firms should attempt to:

match the firm's competencies with a market segment's attractiveness.

When evaluating the attractiveness of the segment, if a segment is expected to react positively to the firm's offering, we say that the segment is:

responsive

Overriding desires that drive how we live our lives are called:

self-values.

____________________ segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach.

Demographic

Marketers often create a special marketing mix for loyalty segments because these segments are:

usually quite profitable.

Donald is analyzing and interpreting data. In the process, he is converting data into information.

True

When companies store information on customers' purchase histories in large computer files, this is known as data warehousing.

True

Retail checkout scanning systems create a tremendous amount of purchasing information usually stored in a company's:

data warehouse.

Malcolm is the campaign manager for a Congressional candidate. He wants to know how voters in his district feel about recent sexual harassment scandals involving politicians. Malcolm will most likely use _______________ to gather this type of data.

surveys

Ron is opening a new Internet-based marketing business. He finds a wealth of data on a web design company's site. This site describes the tremendous sales potential for Internet-based marketing companies. Ron should:

be cautious, because the data may be more promotional than trustworthy.

A restaurant chain is working on improving the quality of its food and service. It recruits customers who agree to respond to customer satisfaction surveys once every three months over the next two years, in order to track its progress. What kind of data is the restaurant chain collecting?

Panel data

In questionnaire design, a question such as, "When will the technology exist to allow humans to live on Mars?" suffers from the problem of a question:

that is complex and something respondents may be unfamiliar with.

After a year in business, Tyrone hired a market research company to analyze his sales data and tell him which groups of customers were the most profitable to his firm. Tyrone will probably use the results of this research to:

define market segments, adjust positioning strategies, change product offerings, adjust prices.

When consumers are unable to articulate their experiences, ____________ becomes particularly useful in understanding consumers' preferences.

observation

American consumers' concerns about ______________ have led to a variety of government protections including the "Do Not Call" list.

privacy

As manager of a local donut shop, Arnie greets his regular customers by name and often begins making their order when he sees them drive into the parking lot. Arnie knows habitual purchasers with strong store loyalty are great customers.

True

When making an important purchase, consumers often consult friends and family. This is considered an external search for information.

True

After purchasing an expensive pair of shoes, you may question whether or not the shoes are any better than the less expensive shoes you could have purchased instead. This is an example of postpurchase cognitive dissonance.

True

The way a product is presented can influence the decision-making process. Along with brand and price, this is known as:

a decision heuristic.

Zappos.com constantly reminds customers of recently viewed items and informs them when stock is low in effort to entice the customer to make a purchase. Zappos is trying to improve its:

conversion rate.

Stuart wanted to impress Janet with the perfect engagement ring. He had been saving money for months, and he noticed his attitudes and perceptions about diamond rings changing as he began paying attention to ads for rings. Marketers call this process:

learning.

Kathy has naturally curly hair and has often been disappointed with the haircuts she has received. When she moved to a new town, she approached her new office mates and several strangers with curly hair and asked them where they had their hair cut. She chose to spend considerable effort finding a new hair stylist based on the ____________ associated with her purchase decision.

performance risk

Before flying, Jaden researches the types of planes the airline uses, scans the plane for defects as it taxis up to the terminal, and follows the pilot and crew as they come through the airport. He has no experience as a pilot or airplane mechanic. Jaden probably has a misguided sense of his:

locus of control.

Firms hope that helping consumers to learn more about a company and its products will affect consumers':

attitudes.

By producing motorcycles that do more than get riders to their destinations and back, Harley-Davidson is addressing consumers'__________________ needs.

functional and psychological

A ______________ is a need or want strong enough to cause the person to seek satisfaction.

motive

There are five types of risks associated with purchase decisions. Which of the following best describes a situation where your new car stalls in the middle of a busy intersection?

Physiological risk

Generally, people buy one product or service instead of another because they:

perceive it to be the better value for them.

To attract and maintain habitual purchasers, marketers spend considerable effort:

creating strong brands and store loyalty.

Upscale men's and women's clothing stores primarily appeal to consumers'______________ needs.

psychological

Maslow's Hierarchy of Needs includes physiological needs at the lowest level and self-actualization at the top. The three levels in between are:

safety, love and esteem.

When Brandon decided he needed a new car, he immediately called his old college roommate who owns a BMW dealership to ask questions about options and financing. Brandon was searching for information from:

an external source.

Consumers consider universal, retrieval, and evoked sets during which stage of the consumer decision process?

Evaluation of alternatives

Elena is in the process of buying a new car. There are many possible cars to choose from, but she is focused on a few she would actually consider buying. These make up her _____________ set.

evoked

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