Marketing Module 2 quiz

Which of the following is the best example of how one's personal value system influences his or her buying behavior?

Christy decided to buy an electric vehicle because she is concerned about the harmful effects of carbon dioxide emissions produced by gasoline fuels

Breen wanted to know if her main rival in the personalized dog clothing business was increasing its prices. She talked to her rival's distributors, her suppliers, and some of her customers to get this information. Breen was engaging in

competitive intelligence

The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs is known as

consumer behavior

What is used to estimate how much customer demand there is for a particular product and understand the factors that drive it?

demand analysis

Collectively, the people, technologies, and procedures aimed at supplying an organization's marketing information needs are called

a marketing information system

Clif Bar & Company, makers of energy and nutrition bars, expanded their product line to include Clif Kid Z Bars. These bars are specifically designed to provide the right kind of nutrition for growing children. For this product, Clif Bar & Company is segmenting the market based on

age

The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is referred to as

market segmentation.

Free-standing areas with a core urban population of at least 50,000 are what the U.S. Census Bureau calls

metropolitan statistical areas

Country-of-origin effects are the

beliefs and associations people in one country have about goods and services produced in another country

Which of the following is not a way to categorize new products?

brand development

Which step in the marketing research process includes setting specific, measurable research objectives?

problem definition

Market segments are

relatively homogenous groups of consumers that result from the segmentation process.

A product labeled "new and improved" would fall within the category of a

revamped product

How long can a company advertise a product as "new and improved" after it hits store shelves?

six months

According to your text, when selecting a target market, firms should consider three important factors: growth potential, level of competition, and

strategic fit

Carson has opened up a new sports bar/restaurant in town. He has determined that his market segments are (1) students from the nearby college campus, (2) families with small children, and (3) young adult males. Carson now has to determine which of these segments will provide him with the best opportunity to maximize sales. The process of doing this is referred to as

targeting

When a company evaluates each market segment to determine which segment or segments present the most attractive opportunity to maximize sales, it is engaged in

targeting

Compare the following definitions and select the one that accurately describes consumer behavior.

the study of how individuals make decisions about how to select, secure, use and dispose of products to satisfy needs

Marketers must realize that the consumer is unlikely to engage in any of the subsequent steps of the buying process if he or she

is not aware of a problem or does not recognize a need

The new-product strategy development stage accomplishes all of the following except

it outlines the cost that will be incurred for the development of new products