marketing quiz 2 Practice Q's

which type of business buying situation offers marketers not only the greatest opportunity but also the greatest challenge

a new task situation

______ refers to the set of values perceptions wants and behaviors learned by a member of society from fam and other important institutions

culture

fresh marketing information-based understandings of customers and the marketplace that become the basis for creating customer value, engagement, and relationships are called

customer insights

which of the following is NOT one of the specific ways in which companies can differentiate their market offeringsq

competitor differentiation

firms w limited resources often target a market niche that is either ignored or unimportant to larger firm. this represents

concentrated marketing

in which targeting strategy does a firm go after a large share of one or a few smaller segments

concentrated marketing

the _______ is a brands full positioning or the full mix of benefits on which the brand is positioned

value propisition

what determines whether the buyer is satisfied with a purchase of not

the relationship between the consumers expectations and products perceived performance

what is NOT a downside of internal databases

they are more expensive and time consuming to access than other info sources

which of the statement regarding business purchases is NOT true

they involve fewer decision participants than consumer purchases

one important considerations in using a differentiated targeting strategy is that

it can increase costs

customer insights come from good marketing information which contributes to creating value and meaningful customer relationships. companies use these customer insights to develop

a competitive advantage

The second critical phase in developing a marketing information system​ (MIS) is developing information. The information is developed from​ ________, __________, and​ ____________.

internal databases marketing intelligence activities marketing research

which is nOT one off the major public policy and ethics issues in marketing research today

intrusions on business privacy

one concern about the expanding use of e procurement for b to b purchasing is that

it can erode decades old customer-supplier relations

which adopter group is last to adopt a new product

lagging adopters

four major steps in designing a customer value driven marketing strategy in order

1. market segmenttion 2. market targeting 3. differentiation 4. positioning

eight steps in business buying decision process in order

1. problem recognition 2. general need descriptions 3. product specification 4. supplier search 5. proposal solicitation 6. supplier selection 7. oder Routine specification 8. performance reveiw

what are perceptual positioning maps used for

To show consumer perceptions of different brands on important buying dimensions

the marketing information system first ______

assesses info needs

what are the five stages of the consumer adoption process in order

awareness interest eval trial adoption

one problem with ______ is that most marketing managers are overloaded with data and often overwhelmed by it

big data

the huge and complex data sets generated by today's sophisticated information generation, collection, storage, and analysis technologies are referred to as

big data

the ______ market comprises all organizations that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit

business

a simple model of consumer behavior suggests that marketing stimuli and other major forces enter the consumers black box. this black box has two parts:

buyers characterisitics buyers decision process

which factor would make a target segment more attractive

challenging for new entrants to come into the segment

correct sequence of four steps of marketing research process

define problem and research objectives develop research plan implement research plan interpret and report finding

business marketers are increasingly connection w customers online and through digital mobile and social media to _______, and maintain ongoing customer relationships

engage customers share marketing info sell products and services provide customer support services

The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses.

exploratory

for which activity would a company extranet be used

for a supplier to check orders against inventories

the explosion in the mens personal care industry w many cosmetics brands now successfully marketing mens line is an example of ____ segmentation

gender

Which stage of the business buying decision process involves ranking the importance of reliability, durability, and price

general need description

major variables used to segment consumer markets

geographic, demographic, psychographic, behavioral

which of the following described the variable that marketers use to segment business markets that differ from the variables used to segment consumer markets

operation characterisitics purchasing approaches situational factos personal characterisitics

the sum of the ongoing experiences consumers have with a brand that affect their buying behavior engagement and brand advocacy over time is known as the

customer journey

Although business marketers use many of the same variables to segment their​ markets, they also use some additional​ variables, except

management factors

_________ is the analysis tools, tech, and processes by which marketers dig out meaningful patterns in big data to gain customer insights

marketing analytics

mavis loves her new iPhone but wonders if a Samsung not would have offered more benefits. this in an example of what

cognitive dissonance

which of the following is NOT among the major factors influencing consumer buying behavior

commercial

one factor influences adoption is _____ which is the degree to which the new product fits the values and lifestyle of consumers

compatibility

to target the best market segments, the company first evaluates various factors related to market attractiveness. of the following, which his not one of those factors

compatibility w company mission and vision

the council of American survey research organization s code of ethics for survey research outlines researcher responsibilities to survey respondents. according to the text, these responsibilities include which of the following

confidentiality privacy data security avoidance of harrassment

what are the three major public policy and ethical research considerations identified in the text

customer privacy customer data security and protection misuse of research finding

to analyze individual customer data, many companies have now acquired or developed special software and analysis techniques called

customer relationship management

in addition to segmentation and targeting, there are two other majopr steps in designing a customer value driven market strategy: ______ seeeks to create superior customer value in the mind of the consumer and ______ seeks to firmly place the market offering in the minds of target customers

differentiation; positioning

what is market segmentation

dividing a market into distinct groups of buyer who have different needs, characteristics, or behaviors who might require separate marketing strategies or mixes

advances in IT have dramatically affected the b to b buying process. online purchasing, often called ____ has grown rapidly in recent years

e procurement

technology advances have made b to b online purchasing possible. this is called

e procurement

Third step of the marketing research process calls for implementing the marketing research plan by

gathering processing and analyzing the information

Marketers are viewing information not only as an input for making better​ decisions, but also as​ a(n) ______________.

important strategic asset and marketing tool

which of the following correctly identifies the consumer market

individuals and households that buy goods and services for personal consumption

the second step in the buyer decision process might include seeking more info. sources of info vary. commercial sources normally ____ the buyer, but personal sources _____ products for the buyer

inform legitimize; evaluate

what are the three sources from which marketers can obtain info

internal databases marketing intelligence marketing research

the buying center and the buying decision process are influenced by ______ factors as well as _____ factors

internal organization, interpersonal, and individual; external environmental

which of the following is correct regarding international research

international researchers may have a tough time finding good secondary data

Some marketers face special marketing research​ situations, such as those conducting research in small​ business, not-for-profit, or international situations. International researchers deal with great variances in​ ________, __________,​ __________, and​ ___________.

levels of economic development cultures and customs being paterns scarcity of secondary data

which of the following statements regarding the business market is correct

many sets of business purchases are made for one set of consumer purchases

Companies apply​ ________ to dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.

marketing analytics

a _____ consists of the people and procedures dedicated to assessing information need, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights

marketing information system

how is marketing research different from competitive marketing intelligence

marketing intelligence gathers information about general consumer, competitor, and marketplace happenings. marketing research uses formal studies that provide customer and market insights for specific marketing situations and decisions

which type of positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs

more for more

five steps in the buyer decision process in order

need recognition info search evaluation of alternatives purchase decision post purchase behavuior

which of the following correctly identifies the three research approaches for gathering primary data

observation surveys experiments

in which step if the buying decision process is the final order w the chosen supplier developed

order routine specification

______ involves differentiating a market offering to occupy a clear distinctive and desirable place relative to competing products in the minds of target consumers

positioning

once a company has decided which segments to enter, it must decide on its ______ strategy

positioning and differentiation

software and analytical techniques that integrate, analyze, and apply the mountains of individual customer data to gain a 360-degree view of customers enable companies to

practice customer relationship management

the business buyer decision process itself can be quite involved, with several basic stages. the process beings with ______ and concludes with

problem recognition performance review

companies need meaningful customer insights so that they can

produce superior value for their customers

a value analysis engineering team may be associated with which stage of the business buyer decision process

product specification

motivation, perception, and learning are ______ factors that influence consumer buyer behavior

psychological

five characteristics that are especially important in influencing an innovations rate of adoption

relative advantage complexity compatibility divisilbility communicability

companies use ___ to put their b to b purchasing requests online and invite suppliers to bid for their businesses

reverse auctions

companies do e procurement in several ways including

reverse auctions trading exchanges company buying sites extranet links

to determine which market segments to target and serves, the company first evaluates which of the following for each segement

size and growth characterisitics structural attractiveness compatibility w company objectives and resources

what is NOT one of the four major influences on business buyer behaviuor

supplier selection

once segments have been identified, market ____ evaluates each segments attractiveness and selects one or more to serve

targetingf

the most common mistake firms make is to view CRM, marketing analytics and AI as

technology processes only

the full positioning of a brand is called the ________ which is the full mix of benefits on which a brand is differentiated and positioned

value proposition

buyers who face a new task buying situation usually go thru

all of the eight steps including performance reveiw

which of the following statement about marketing research in small businesses and non profits in correct

although the research methods of these firms are less complex and costly, they must be conducted carefully

when effective programs can be designed for attracting and serving market segments, these segments are

actionable

we define the ____ process as the mental process through which an individual passes from first learning about an innovation to final adoption

adoption