marketing 6-10
____ relates to perceptions of value and is the most flexible element of the marketing mix.
Pricing
After deciding to order replacement parts for aging machinery, the buyer for a construction company examines catalogs and trade publications looking for these parts. The buyer is at which stage in the business buying decision process?
Product-supplier search and evaluation
The percentage of users that clicked on a link on a site is known as
the click-through rate.
Which of the following buying situations is most consistent with routinized response behavior?
Stephanie buying bottled water
The growing use of two-day and next-day delivery by online companies best relates to
the distribution variable of the marketing mix
The group of people within a business who are involved in making business buying decisions is referred to as
the buying center.
A company not involved in manufacturing that links buyers and sellers in different countries is usually referred to as a
trading company.
According to your text, ____ are small technology-based firms operating in international markets almost immediately after their establishment and realizing as much as 70% of their sales outside the domestic home market.
"born globals"
Which of the following statements regarding social class is true?
A social class is an open aggregate of people with similar social ranking.
The attitude toward the object model (known as the Fishbein model) consists of which three elements?
Beliefs about product attributes, the strength of beliefs, and the evaluation of beliefs
Many marketers claim that ____ will become the world's largest market.
China
____ refers to customers' ability to regulate the information they view and the rate and sequence of their exposure to that information.
Control
A ____ is a type of software that creates an interface that enables users to add or edit the content of some types of websites.
wiki
Institutional markets are
organizations that seek nonbusiness goals
Which of the following requires hiring professionals to create initial forecasts, submit them to the company for averaging, and then use those results to make individual refined forecasts?
Delphi technique
Comcast uses a segmentation strategy for its cable TV packages based on market characteristics such as age, gender, or income. Which of the following category of segmentation variables is Comcast using?
Demographic
Which of the following occurs when consumers are communicating through word-of-mouth interactions to promote a product or company?
Earned media
Brown Dog Cycles creates sleek and modern bicycles for commuters and cycling enthusiasts using the latest materials such as carbon fiber frames. Brown Dog Cycles are relatively expensive, but its urban customers routinely pay $2,000 to $4,000 for the hand-crafted bicycles. The owners are considering expanding their company's footprint outside the United States and are considering opportunities to export its products to Canada and Mexico. They have learned that _______ eliminated virtually all tariffs on goods produced and traded among Canada, Mexico, and the United States.
NAFTA
At the heart of the ____ are agreements that provide legal ground rules for international commerce and trade policy.
WTO
The gross domestic product is
an overall measure of a nation's economic standing.
The car-related website and media company, Edmunds, provides reviews and ratings of vehicles and is well respected by individuals in the car industry as a neutral source. Consumers appreciate its advice and information and know they can trust Edmunds for non-biased information. In addition to its own website and magazine, Edmunds is using the ________ Pinterest to post photos and links to recent articles as well as answer questions posed by members of Pinterest.
bulletin-board site
When organizing perceptual inputs, people tend to mentally fill in missing elements in a pattern or statement. This principle is called
closure.
Adobe markets software such as Photoshop and Lightroom through a subscription service and maintains an extensive website where customers can post reviews, offer tips and suggestions, and ask technical questions. Adobe appreciates the opportunity to create a forum where users of the software can interact with each other, as well as the company. This example relates to the ______ characteristic of online media.
connectivity
The Walt Disney Company is a master at incorporating all the unique characteristics of digital media into its website. It knows how to appeal to all types of consumers and utilize the full potential of digital media. The Disney website immediately catches your attention with sights and sounds that come alive. Not only can you catch a glimpse of an upcoming movie, but it also connects you with your favorite characters from movies past. The website offers age-appropriate games and activities, including the ability to create a fairy-tale cottage. The Disney Parks have their own links, of course, along with Radio Disney, the Disney Store, family vacation packages, and an educator's corner. An adult or child can enjoy navigating through the electronic marketing of Disney. Refer to Scenario 10.1. Visitors to the Disney website have the ability to regulate the information they view and the activities they participate in. This is an example of
control.
One of the most important benefits of e-marketing is the ability of marketers and
customers to share information.
The inner driving forces or reasons behind buyers' actions and behaviors are called
motivation
The second stage in the business buying decision process is to
develop product specifications.
After purchasing a product, postpurchase evaluation may result in cognitive dissonance. Cognitive dissonance
doubts that occur because the buyer questions whether the decision to purchase the product was right
Claudia, a marketer at the local zoo, has been using digital media to promote new exhibits and events. Claudia finds that digital media is a good way to promote events when the zoo does not have a large promotional budget. At the moment, Claudia is working on a strategic process for developing a(n) _________________ for a sustainable seafood event the zoo is holding for its members, most of whom are very active on the zoo's Facebook page. She decides Facebook is the appropriate social media channel she wants to use to reach consumers. Claudia determines the appropriate pricing for the event as well as the best way to distribute and promote the event through its Facebook page. To promote the event more successfully, she is also going to look at past Facebook poll results, member postings, and responses to corporate messages to determine what its members would truly desire to get out of the event. Claudia plans to incorporate this into the digital promotion she will release for the upcoming event through Facebook.
electronic marketing strategy
The United States' former prohibition against importing cigars from Cuba for resale was an example of a(n)
embargo
Stan owns a small landscaping business called GreenScapes. When buying a new pickup truck for his landscaping business, Stan negotiated with Capitol Dodge, a dealer, with the agreement that GreenScapes would be the service company Capitol Dodge used for all of its landscaping needs. This is an example of
exclusive dealing
A marketer that targets customers based on marital status and the presence and age of children is using
family life cycle.
The consumer buying decision process involves _______ stages. The first stage is ____________, and the last stage is _____________.
five; problem recognition; postpurchase evaluation
Seattle Grace Hospital administrators decide to redo its kitchen with new flooring, cabinets, counters, and appliances. The hospital compiles a description of the project and then asks sellers to submit bids. After determining the most attractive bids, the hospital will then work with two or three companies to determine which will get the contract. This is an example of using ____ for a purchase decision.
negotiation
The ______________ of marketing suggests that firms should adopt marketing strategies as though the entire world was one single marketplace. These firms would then market ___________ products using the same marketing mix everywhere in the world.
globalization; standardized
The purchase of products from a foreign source is called
importing
When charitable organizations such as the American Cancer Society, Second Harvest Food Bank, and the Red Cross make purchases for goods and services to use in their daily operations, they would be considered to be _______ buyers.
institutional
The five categories of situational influences are
purchase reason, time perspective, social surroundings, physical surroundings, and buyer's momentary mood
In the consumer buying decision process, a buyer will search his or her memory for information about products that might solve the problem they have identified in the
internal search.
When Chaz realizes his liquor cabinet supply was devastated by last weekend's party, he first retrieves information from his memory about what types of liquor he and his friends like most and then asks the clerk at the liquor store what she would recommend. Chaz started with a(n) ____ search and then progressed to a(n) ____ search.
internal; external
Evaluative criteria for brands within the consideration set are both
objective and subjective.
Thanks to the role of the internet in the business buying decision process, interactions with a sales representative now
occur much earlier in the process than in the past.
Many suppliers and their customers invest time and resources to build and maintain mutually beneficial relationships which are often called
partnerships
The internet can be referred to as a ____ medium because users determine which websites they are going to view.
pull
The stages of the business buying decision process, in order, are
recognizing the problem, establishing product specifications, searching for products and evaluating possible suppliers, selecting suppliers and products, and evaluating performance.
The three major categories of influences on the consumer buying decision process are
situational influences, social influences, and psychological influence
Two trends that have caused consumer-generated information to gain importance are
the increase of consumers sharing their opinions through digital media and the consumer's mistrust of information from corporations.
One trend that has caused consumer-generated information to gain importance is
the increase of consumers using digital media to publicize their own product reviews.
One of the biggest mistakes a marketer can make when engaging in digital marketing is to
treat it like a traditional marketing channel.
Regardless of their age, income, or gender, an increasing number of people are turning to the internet to search for information, products, people, news, maps, entertainment, and whatever else you can think of. At the forefront of this massive search is Google; accompanying Google are social media sites such as Facebook, Twitter, and Pinterest. Google has developed methods for making information useful to all types of internet users. Some users want to critique the information, some just want to read the information, and some want to be the information writers. Facebook, originally used as a social networking application, is now picked up by retailers, brands, celebrities, churches, political campaigns, and nonprofit agencies. Twitter is a more real-time site and, as is Pinterest, a more personally-affiliated medium. Refer to Scenario 10.2. Which of the media below would be best for the American Red Cross to use in developing relationships with blood donors, and in soliciting funds for storm-ravaged communities as a result of floods and fires?
Sabika is the purchasing manager for the local public school system. Recently, the school received a large grant to make technology-related purchases to enable students to have better access to computers and utilize the Internet. Sabika is working with the teachers, and they recently developed product specifications that are necessary or required for tablet or laptop computers. What is the next stage in the purchase decision process for Sabika and the teachers?
Search and evaluate possible products and suppliers
The Walt Disney Company is a master at incorporating all the unique characteristics of digital media into its website. It knows how to appeal to all types of consumers and utilize the full potential of digital media. The Disney website immediately catches your attention with sights and sounds that come alive. Not only can you catch a glimpse of an upcoming movie, but it also connects you with your favorite characters from movies past. The website offers age-appropriate games and activities, including the ability to create a fairy-tale cottage. The Disney Parks have their own links, of course, along with Radio Disney, the Disney Store, family vacation packages, and an educator's corner. An adult or child can enjoy navigating through the electronic marketing of Disney. Refer to Scenario 10.1. The Disney website has a special link for educators that allows them to download educational videos pertaining to various subjects and grade levels. Educators are asked to register online with further information about their needs. This is an example of
interactivity.
Lack of coordination between domestic and international operations is commonly the most significant flaw in the
international division structure.
A major determining factor in deciding which type of decision-making process should be used depends on the individual's intensity of interest in a product and the importance of the product for that person. This is known as an individual's
level of involvement.
Stan spends most of his free time participating in extreme sports and traveling to exotic locations with a group of close friends who share his interests and opinions about most things. This is a description of Stan's
lifestyle.
When a consumer purchases products occasionally or needs information about an unfamiliar brand in a familiar product category, he or she will most likely engage in
limited decision making.
Felix and Alison have been married for a year and are starting to establish their decision-making styles as a couple. Alison enjoys shopping and likes to browse the grocery store aisles rather than using a list. While this is time consuming, she always discovers some cool product and usually makes some unplanned purchases. Felix appreciates Alison's efforts and tries to reciprocate by taking care of any purchases for their car or to maintain their home such as getting the oil changed, buying tools, or lawn mowing equipment. Alison's purchases of all of the grocery items can be described as _______ decision making, while Felix's purchases for the car or home maintenance items are called ______decision making.
wife-dominant; husband-dominant
The three most widely recognized types of consumer decision making are
limited problem solving, extended problem solving, and routinized response behavior.
Global marketers such as Alibaba have embraced technology that enables them to form better relationships and communicate with customers. One of the benefits of e-marketing that Alibaba enjoys is that
marketers and customers can share information.