Mark 3336 Quiz

________ refers to the stage of the business buying process in which the buying organization decides on and specifies the best technical product characteristics for a needed item.

General need description

Which of the following is true about secondary data?

It can be obtained more quickly and at a lower cost than primary data.

Which of the following is most likely an advantage of survey research?

The flexibility of survey research is high; it can be used to obtain many different kinds of information in many different situations.

Which of the following is most likely a disadvantage of focus group interviewing?

Focus group interviewing involves small samples to keep time and costs down, which makes it hard to generalize from the results.

Which of the following is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification?

Product/market expansion grid

Which of the following best describes a business market?

The purchase of materials that will be used in manufacturing goods

A_______consists of activities an individual is expected to perform according to the people around him/her. A) motive. B) role. C) lifestyle. D) life cycle

B) role.

Which of the following statements is true regarding competitive marketing intelligence?

Competitive marketing intelligence relies upon publicly available information.

To which type of customer market does Burger King likely market the Satisfries?

Consumer

The primary key to delivering customer satisfaction is to match product performance with_________

Customer expectations

Nielsen primarily gathers data from________to help companies with strategic marketing decisions.

Customers

Factors such as a firm's objectives, procedures, and systems are examples of ________ influences on the business buyer behavior. A) political B) interpersonal C) technological D) organizational E) cultural

D) organizational

__________products are those products purchased for further processing or for use in conducting a business. A. Unsought B. Specialty C. Shopping D. Industrial E. Convenience

D. Industrial

Kevin Kern described Konica/Minolta's use of commercials, newspaper, social media, and other media to control the marketing message. Which marketing concept was he referring to?

Marketing Mix

Minolta has many business units that specialize in various industries like office equipment, print, and healthcare. Which tool should Minolta use to determine how much resources to invest in which business unit?

Performing a portfolio analysis.

Individuals and households that buy or acquire goods and services for personal consumption make up the ________.

consumer market

______involved actually distinguishing the firm's market offering to create superior customer value. A. Mass customization B. Differentiation C. Market segmentation D. Diversifying E. Targeting

B. Differentiation

Which consumer group tends to show more brand loyalty and make shopping a family event, with children having a big say in the purchase decision? A. working class consumers B. Hispanic Americans C. Arab Americans D. middle class consumers E. African Americans

B. Hispanic Americans

With an expected increase in ethnic diversity within the American population, marketers are most likely to place a greater emphasis on ________.

targeted advertising messages

Which of the following statements is true of the production concept?

It leads to companies focusing too narrowly on their own operations.

In addition to selling food, drink, and a variety of items that feature its popular logo, Eskimo Joe's offers its customers a valuable experience, known as its__________

Marketing Offering

abc News produces this this short clip about Burger King's Satisfries. What of actor is abc news in Burger Kings microenvironment?

Publics

Which of the following is the final stage in the new product adoption process?

adoption

With the recent explosion of information technologies, ________.

most marketing managers are overloaded with data and often overwhelmed by it

The boom in Internet marketing has created a new set of social and ethical issues. Critics worry most about ________.

online privacy issues

Which of the following statements is true of cultural factors that influence consumer behavior?

people in the same class tend to exhibit similar buying behavior

Siemens is expanding its healthcare business (MRI- and CT-Scanners) and conducts market research to find out that primarily hospitals are interested in buying these scanners. Hospitals are therefore________

their target customer group.

Which of the following companies has a market-oriented business definition?

A cosmetic company, whose business definition is: "We sell hope and self-esteem."

Which of the following is true with regard to service? A. Services refer to purely tangible products. B. Services are form of product that consists of activities, benefits, or satisfactions offered for sale. C. Services can be stored for later use. D. Services can be easily separated from their providers. E. Services are tangible product offerings whose quality can be easily measured.

B. Services are form of product that consists of activities, benefits, or satisfactions offered for sale.

What is Mattel utilizing to capture more market share of infants, toddlers, and preschoolers? A. Leveraging the fisher price brand B. Focusing on innovating new toys to the market. C. None of the above D. Marketing towards the parents of Millennials. E. All of these choices.

E. All of these choices.

Which of the following is true about multivariable segmentation systems? A. Marketers using multiple segmentation base tend to ignore smaller markets. B. Marketers often use multiple segmentation bases to control inflation. C. Multiple segmentation rarely involves the use of demographic data. D. Multiple segmentation is ineffective in large markets. E. Multiple segmentation bases help identify smaller, better-defined target groups.

E. Multiple segmentation bases help identify smaller, better-defined target groups.

What is the term used to describe the relationship between Eskimo Joe's and its customers when Eskimo Joe's provides food, beverages, and merchandise to its customers and receives money from them in return?

Exchange

Netflix notices that currently the number of subscribers is stagnating for the first time in company history. The company hires a market research firm to identify potential reasons for this. This research can best be described as ______.

Exploratory

Andre Smith is currently the marketing manager for Coachella. Their marketing focuses on the experience rather than an explicit product acquisition. Which demographic is most likely to positively respond to experience focus marketing?

Generation X

_______ is a person's pattern of living as expressed in his/her psychographics, and it includes the individual's activities, interests, and opinions.

Lifestyle

Minolta focuses on Business-to-Business customers and high-end hobbyists and professional consumers. These customers make up important_________for Minolta.

Market Segments

According to James Russo, Nielsen started at the same time as________

Market research

Nokia dominated the mobile phone market for years, thinking that messages, calls, and the game "Snake" would fulfill the customer needs going forward. However, once companies like Apple and Samsung introduced smartphones that add internet, smart applications and GPS to the existing product, Nokia quickly fell behind and lost market shares. This is an example of__________

Marketing Myopia

If a company hires Nielsen to get insights into their customer base, which term best describes Nielsen from the perspective of the company? Nielsen is a_________

Marketing Service agency

SurveyMonkey is a company that enables individuals and companies to design and conduct surveys with consumers. For companies, SurveyMonkey is best described as a _______.

Marketing Services Agency

Minolta's goal it to create superior value for its customers by following a specific mission and clear strategic goals and objectives. All in all, these efforts are known as Minoltas________

Marketing Strategy

The owners of Eskimo Joe's understand the customers' needs and wants by sensing and responding to those needs, indicating that Eskimo Joe's assumes which philosophy?

Marketing concept

All of the following are accurate characterizations of modern marketing EXCEPT for one. Please select the option that does not represent modern marketing.

Marketing emphasizes selling and advertising exclusively.

By offering Satisfries, Burger King tried to primarily attract mothers of young children. What was the generation that Burger King most likely targeted with this product introduction?

Millenials

If a company hires Nielsen to gather information of a very specific problem that a company encounters, Nielsen likely collects _________data from consumers.

Primary

Under the previous CEO, Konica/Minolta's management determined it was time to invest in________by offering new products to the technology market.

Product Development.

Henry Ford's philosophy was to perfect the Model T so that its cost could be reduced further fir increased consumer affordability. This reflects the _________concept.

Production

Linda is working for a company that buys refrigerators from an industrial market and sells them to consumers for a higher price. What kind of market is Linda working on?

Reseller Market

On Amazon, customers can write product reviews that are openly available for everyone. Companies could look at the reviews for feedback on their product to gather ideas on how they can create a product that satisfies the customer needs. In this case, the company is looking at ______.

Secondary Data

Family is one of the _______ factors that influence consumer behavior.

Social

Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the________philosophy.

Society marketing concept

__________are a type of SBU that offer require heavy investments to finance their rapid growth.

Stars

Which of the following answers best define customer "needs"?

State of felt deprivation such as hunger.

Early in the company's career, Eskimo Joe's was faced with challenge. What was that challenge?

The change in legal drinking age for alcohol almost deprived the company of an important customer group.

The marketing process is described by a 5-step model. Which is the first step?

Understanding the marketplace and customer needs.

Prof. Ahearne interviewed Justin Bremer from Fidelity. In which position does Mr. Bremer work at Fidelity?

Vice president, Regional Planning Consultant at Fidelity

During this semester you are saving up to buy the new IPhone 13. You currently have a________

Want

Beth Williams works for a marketing research company in Chicago. Her current research involves finding the market potential for a client's new line of sports apparel. Given her objective, which of the following types of research is the most suitable for Beth?

descriptive research

If a customer wishes to purchase merchandise from Eskimo Joe's and has sufficient funds to purchase merchandise, then that customer______the merchandise. Choose the option that best describes this situation.

Demands

The target market of Sprout are preschoolers and their parents. Sprout is likely using________factors to segment their market. A. Geographic B. Demographic C. Psychographic D. Behavioral E. Illogical

Demographic

What type of research is most likely necessary to gain insights into the demographic factors like age, gender, and income of a company's customer base?

Descriptive research

Which these steps does not belong to the four steps in strategic planning on the corporate level?

Designing a customer value driven marketing strategy

During its early years, Nike developed new businesses to achieve growth. While it first exclusively sold athletic shoes, it introduced sports equipment and apparel to the product mix. This strategy is known as_______

Diversification

________segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product. A. Behavioral B. Psychographic C. Age and life cycle D. Gender E. Geographic

A. Behavioral

______are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style. A. Shopping products B. Convenience products C. Unsought products D. Capital items E. Supplies and repair services

A. Shopping products

High Point, Plymouth Rock, and Pallasades are all names that identified each company as the seller of their offerings. This is also known as the companies______ A. Value Proposition B. Marketing Mix C. Brand D. Quality Management E. Product

D. Quality Management

Sprouts competitive advantage can best be described by________. A. Sprout's product position. B. The company's demographic segmentation. C. Sprout's value proposition. D. Sprout's overall customer value. E. The company's psychographic segmentation.

D. Sprout's overall customer value.

Marketers who use ________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals. A. demographic segmentation B. geographic segmentation C. benefit segmentation D. psychographic segmentation E. occasion segmentation

D. psychographic segmentation

Market segments that can be effectively reached and served are________ A. measurable B. accessible C. substantial D. actionable E. profitable

B. accessible

Each culture contains smaller ________, or groups of people with shared value systems based on common life experiences and situations. A) alternative evaluations B) cognitive dissonances C) subcultures D) social classes E) occupations

C) subcultures

Which of the following is a component of a firm's microenvironment?

marketing intermediaries

________consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. A. Mass customization B. Proposition C. Segmentation D. Differentiation E. Targeting

B. Proposition

Bailey's Burgers promotes the Bailey's Jumbo Burger as a fun snack for teens and young adults. In this instance, Bailey's Burgers is practicing ________ segmentation. A. benefit B. age and life-cycle C. psychographic D. geographic E. gender

B. age and life-cycle

Service________means that services cannot be stored for later sale or use. A. consistency B. perishability C. variability D. intangibility E. inseparability

B. perishability

Which of the following terms refers to a specific mix of human traits that may be attributed to a particular brand?

Brand personality

By offering "healthier" fast food, Burger King hopes to increase its market share and attract customers that previously bought from other fast-food chains. To which type of the environment is Burger King reacting?

The competitive environment

The decision to offer Satisfries to customers is most closely aligned with their understanding of the changes in which of the following environments?

The cultural environment

Certain types of insurance, such as life insurance, fall into the "unsought product" category because people don't want to worry about the event when this insurance is paid out. Auto insurance, such as Plymouth Rock's offerings, fall into a different product category. The offering of Plymouth rock most likely fall into the category of_______products. A. Unsought B. Shopping C. Specialty D. Convenience E. Luxury

B. Shopping

Consumer products refer to___________. A. products purchased by consumers for further processing or for use in conducting a business B. products and services bought by final consumers for personal consumption C. primarily intangible offerings from marketers. D. raw materials as well as manufactured materials and parts. E. products that aid in the consumer's production or operations, including installations and accessory equipment.

B. products and services bought by final consumers for personal consumption

Plymouth Rock Assurance is a collection of three auto insurance companies that decided go through a rebranding process in order to__________. A. profit from licenses that are only available to one of the companies. B. profit from merging the customer bases together. C. profit from a stronger, united brand. D. further strengthen their position as the industry leader. E. disrupt their customer's feelings of safety.

B. profit from merging the customer bases together.

Which of the following actions is a restaurant owner most likely to take in order to reduce problems associated with service intangibility? A. increase entree prices after 6:00 PM B. provide clean tablecloths and fresh napkins for each new customer C. Empower employees to handle customer complaints. D. offer discounted prices for appetizers ordered during happy hour E. hold regular employee workshops focusing on customer service

B. provide clean tablecloths and fresh napkins for each new customer

The latest trend in the United States involves rediscovering the benefits of home-cooked food and the use of organic ingredients. People are choosing to spend hours in the kitchen using only the freshest ingredients to cook healthy and nutritious meals. This change in ________ is one of the reasons for the increasing demand for organic ingredients. A) self-concept B) subculture C) lifestyle D) personality E) life-cycle

C) lifestyle

As part of its marketing effort Mattel has announced what entertainment strategy for its toys? A. None of these answer choices. B. All of these answer choices C. Announced over 8 different firms that feature Mattel's toys. D. Announced its ground-breaking virtual toy playbox virtual reality headset. E. Create a ride at Disney for every toy.

C. Announced over 8 different firms that feature Mattel's toys.

Which of the following keywords best describe the goals behind the innovative Barbie product lines like "I can be"-product line? A. Bingo Bango Bongo B. Technological Advancement C. Empowerment, Diversity, Inclusion D. Exclusivity, Luxury E. Vintage, Old-fashioned

C. Empowerment, Diversity, Inclusion

_________involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. A. Mass customization B. Market targeting C. Market segmentation D. Differentiation E. Positioning

C. Market segmentation

________are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. A. shopping products B. Unsought products C. Specialty products D. Capital items E. Convenience products

C. Specialty products

What is Sprout's unique positioning? A. Sprout's marketing focuses exclusively on children and airs 24 hours a day. B. Sprout's marketing focuses exclusively on parents and airs 24 hours a day. C. Sprout's marketing focus on both, children and parents and airs 24 hours a day. D. Sprout's marketing focuses on elderly and airs 24 hours a day. E. Sprout's marketing focuses on children and airs from 8 AM to 8PM.

C. Sprout's marketing focus on both, children and parents and airs 24 hours a day.

For what reason did Plymouth Rock Assurance decide to extend the rebranding process over a long period time? A. To comply with national law. B. To drive their competition out of the market. C. To allow for a calm transition for their customers. D. To compensate for the cost of competitors. E. To allow customers to move to competitors.

C. To allow for a calm transition for their customers.

What toy of Mattel's grew over 12%? A Hot wheels. B. Buzz light year C. Fortnight skins D. Barbie E. Uno

D. Barbie

The CEO of Mattel put together a plan to grow. What did his plan do that led to the growth of the company? A. Restoring profitability and driving top line growth. B. Capturing value from intellectual property. C. File parents to win money from other companies with legal action. D. Both B and C E. Both A and B

D. Both B and C

Sprout has created a unique market offering by integrating its programs with both children and parents. This unique offering that creates superior customer value is known as​ __________. A. positioning B. undifferentiated marketing C. market segmentation D. differentiating E. market targeting

D. Differentiating

Sprout started a consumer campaign to contact non-viewers and their viewers audience. This campaign was called the______campaign. A. "Why pay more?" B. "I'm lovin' it" C. "Have it your way" D. "Watch it. Any time" E. "We share"

E. "We share"