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56 terms

Exam 2 Practice quiz

STUDY
PLAY
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