Marketing exam 2

¡Supera tus tareas y exámenes ahora con Quizwiz!

The search for information is the ______ step in the consumer decision process.

Second

In most situations, data collection should only begin after ______.

the research design process is finished

Why might a firm prefer to manufacture in a country that has a trade surplus?

A trade surplus offers the chance to export to more markets.

When the consumer uses many evaluative criteria such as fuel economy, acceleration speed, and the availability of extra features, like satellite radio or GPS, to make a decision about purchasing a car, the consumer is doing what?

Basing the decision on important, salient features of the car

Which of the following is an example of a visible artifact of culture?

Ceremonies

Which of the following criteria are necessary to assess a country's market?

Economic analysis Sociocultural analysis Infrastructural analysis

True or false: Universal sets are a subset of retrieval sets and evoked sets.

False: Retrieval sets and evoked sets are subsets of universal sets, not the other way around

What does a trade deficit signal to economic analysts?

Strong competition from foreign producers

STP analysis occurs during which step of the marketing planning process?

Third

Why would a firm record the number of abandoned virtual carts on its website?

To assess the conversion rate

Which best describes the purpose of determinant attributes?

To help consumers differentiate competing brands or stores that seem similar

______ is a psychographic tool owned and operated by Strategic Business Insights (SBI) that classifies consumers into eight segments based on their answers to the questionnaire.

VALS

When does the consumer decision process begin?

When consumers realize they have an unfulfilled need and want to reach their desired state

Limited problem solving is most likely to occur under which condition?

When the consumer has a purchase decision that calls for, at most, moderate effort and time

Which of the following best describes postpurchase cognitive dissonance?

an internal conflict

VALS shows ______ between psychology and lifestyle choices.

correlation

Psychographics is a segmentation method that delves into how consumers actually ________ themselves.

describe

Important attributes, or ______ criteria, consist of a set of salient, or important, attributes about a particular product. Examples of these attributes can be price, quality, location, time, ease of use, etc.

evaluative

Jill is in the market for purchasing a new automobile, but she will only consider models made by American companies. The American car makers are part of Jill's ______ set.

evoked

A country with a trade surplus ______.

exports more goods than it imports

High buyer involvement is likely to lead to what kind of problem solving?

extended problem solving

A franchise is a contractual agreement between ______.

firms or a firm and individual

Segmentation that uses a combination of geographic, demographic, and lifestyle characteristics to classify consumers who may patronize stores close to their neighborhood is called ________ segmentation.

geodemographic

Market differences across continents create opportunities for ______.

geographic segmentation

In the United States, the market has evolved from a regional marketplace to international markets, a process known as

globalization

The total market value of all goods and services produced by a country in a year is known as the country's ______.

gross domestic product

A trade deficit means that a country ______.

imports more goods than it exports

______ is defined as the basic facilities, services, and installations needed for a community or society to function, such as water and power lines, and public institutions.

infrastructure

Locating information from one's own memory and knowledge is known as a(n)_______ information search, whereas seeking outside sources of information is an external informational search

internal

An exchange rate quantifies how much a currency ______.

is worth in relation to another

Globalization refers primarily to the evolution of ______.

markets

When adopting strategies for entering a new market, many firms follow a(n) approach that may morph and become ______ over time.

more risky

Gross national income consists of GDP plus ______, without including any payments made to those who do not live in a country but who contribute to the domestic economy.

net income earned from investments abroad

The social influences that affect a consumer's behavior do NOT include _______.

perceptions

The components of a country market assessment include all of the following EXCEPT:

pricing and product decisions

While some segmentation methods rely on external descriptions and factors to break down the market, ______ segmentation relies on consumers' descriptions of themselves.

psychographic

When Amber is thinking about where she would like to eat lunch, she remembers five places close by where she has eaten before. Although some of them she would not revisit, these restaurants are part of Amber's ______ set.

retrieval

Betty buys antibacterial hand soap for her kitchen and bathrooms in order to prevent the spread of germs. She is motivated by a(n) ______ need.

safety

After consumers complete the need recognition stage in the consumer decision process, they begin the ______ stage.

search for information

Which of Maslow's needs is the highest level of needs?

self - actualization

______ is the image people ideally have of themselves.

self - concept

______ are goals for life, not just the goals one wants to accomplish in a day. They are the overriding desires that drive how a person lives his or her life.

self - values

Individuals in different segments should have obvious ______ within the segment and greater ______ across the segments.

similarities; differences

The consumer decision process is best defined as ______.

the steps consumers experience when making a purchase

After establishing overall objectives, why do marketers then use a particular method or combination thereof to identify and describe market segments?

to help understand the profile of each segment

Self-actualization occurs when ______.

you feel completely satisfied with your life and how you live


Conjuntos de estudio relacionados

GRE3000 三千完美版第一部分

View Set

Chapter 16: Strategic planning, Goal-Setting, and Marketing

View Set

Chapter 25 - Postpartum Period Practice Questions

View Set

APUSH: Politics of the 20s and the Great Depression

View Set