midterm adv mark

The ________ race and ethnicity market segment is about 12 percent of the U.S. population and is not growing rapidly.

African american

How is the growth stage of the product life cycle (PLC) characterized with respect to sales revenue and profitability?

Companies recoup costs and begin to realize a return on their investment.

A disadvantage of online focus groups is that

Participants can become distracted and environmental factors can affect their concentration

of a service means that because it can't be separated from the provider, a service's quality can only be as good as that of the provider.

Tangibility

Which of the following statements is TRUE about government purchases?

The U.S. government is the single largest buyer of goods and services in the world.

________ are all marketing activities that affect the consumer decision process.

Value proposition, distribution, and marketing communications

The CEO of Big Wheel Automotive is concerned about declining sales. He has identified his research problem as the fact that his competitors are drawing away his business. He purchases access to J. D. Power's automobile rankings to learn about possible reasons for the shift in consumer purchasing. In this case, the CEO is using ________ to collect secondary data for his research problem.

a market research organization

During which stage do consumers purchase a product with the intent of becoming a dependable user?

adoption

The rate at which new products become accepted is known as the ________ process.

adoption

In the business market purchase decision process, new buys will include _________ step(s) in the process.

all of the

Of the five dimensions of service quality, the ability to convey trust and build a customer's confidence in the quality of a service refers to ___

assurance

To compete in today's market, how often should firms focus on marketing planning so that managers and executives have the core information about progress toward relevant goals and metrics at their fingertips?

at all times

_____ segmentation divides customers into groups according to similarities in benefits sought or product usage patterns.

behavioral

Many companies are using popular songs from the 1960s and 1970s in their advertising. When individuals, particularly baby boomers, hear that music it connects them with positive memories and the product and brand being advertised. This demonstrates ________.

classical conditioning

The use of ________ at an early stage in a customer's exploration of an e-commerce website can provide insight into the state of his or her intentions.

clickstream data

During the evaluation stage of the product adoption process, consumers ________.

combine all information and assess the product for trial purchase

Jeremy runs a U.S.-based company. Recently, some of his customers with global operations have placed additional orders that require Jeremy to work with their foreign subsidiaries. As a result, Jeremy has developed local distribution and service reps in three foreign markets. What stage of the global experience learning curve is Jeremy experiencing?

companies with foreign marketing

The early majority represents a good portion of total product sales. Generally this group needs to be ________.

convinced of the product's claims and value proposition before making a commitment

What is one of the four elements of the process cycle for customer relationship management?

customer interaction

Positioning relies on the communication of one or more sources of value to customers in a way that the customer can easily make the connection between the ________.

customer's needs and wants and what the product has to offer

The marketing ________ is a comprehensive system providing managers with up-to-the-minute information, including data such as actual sales versus forecast and progress on marketing plan objectives.

dashboard

An important issue for consumers is conformance, which is the product's ability to ________.

deliver on features and performance characteristics promised in marketing communications

The marketing manager for Ned's Bar and Grill notices that his typical customer is a male college student. In the context of external information sources, he is using ________ to define his market.

demographics

To remain competitive, firms collect intelligence on a number of external factors. Information related to population change is referred to as ________ information.

demographics

Into the Abyss is an outdoor clothing company that is just starting to conduct analyses on new data. Which approach would be the appropriate first step before employing more complex analyses?

descriptive analytics

Offering credit cards to high school seniors is an example of ________ segmentation.

educational

The most significant global economic trend in the past 15 years has been the ________.

emergence of regional market zones

Little m" marketing refers to strategies the firm uses to reach its stakeholders.

false

The most widely used measure of economic growth is the strength of the currency.

false

Understanding cultural and societal trends is not important in B2B markets compared to B2C markets.

false

Value may be defined as the want-satisfying power of a good or service.

false

When consumers order a newspaper subscription, they want the paper delivered early in the morning so that they can read it before setting out for the day. It appears that newspaper publishers are offering form, time, and place utility, but not ownership utility.

false

Graduating from college, getting married, and having a child all transform an individual's buying habits and are referred to as the ____

family life cycle

The innovation diffusion process is how long it takes a product to move from ________.

first purchase to last purchase

It is important to remember that a marketing plan should be able to change as customers change, competitors develop new products, or there is a change in the external environment. In other words, a marketing plan should be ________ to be successful.

flexible

Positioning strategy is a process that often starts with ________, which help(s) develop a set of attributes for further analysis.

focus groups

___ means that structure, processes and tools, and managerial knowledge and commitment are formally established in support of the culture.

formalization

Apex Jerseys, a manufacturer of sports apparel and sports equipment, has experienced a sharp drop in sales over the last quarter. The marketing manager asks the marketing research department to investigate this alarming development. The first step taken by the researchers in their process should be to ________.

formulate a specific research problem

Pricing strategy is related to product line strategy. Often multiple price points are targeted at specific markets with unique features following a ________ product line strategy.

good better best

Demographic segmentation is best described as using characteristics of ________ to segment the market.

human populations

As the marketing manager of Tiny Tire Company, you are interested in assessing whether it is possible to decrease the amount of time between customers' tire replacement services and also whether it is possible to increase average transaction amounts through add-on sales. To assess customer satisfaction with current services, you decide to consult your CRM system to ________ customer orders.

identify the frequency and size of

Gen Y consumers are much more receptive than their parents and grandparents to electronic commerce as a primary means of receiving marketing communication and purchasing. The marketing change driver represented by this is a shift ________.

in generational values and preferences

Kendra is frustrated with her eye doctor's office. Every time she goes for an appointment, she sits in the waiting room for at least 45 minutes before the nurse calls her in. She is asking all her friends for the names of their eye doctors so she doesn't have to deal with this anymore. This demonstrates how ________ can cause switching behavior.

inconvenience

The manager of an automotive after-market specialties firm is interested in collecting secondary data. He is concerned with the future of the industry and his competition. He would like to find industry research reports along with industry and company analysis of his competitors. His best sources of this information would be ________.

independent online databases

it is said that B2B demand is more ________ in general than B2C demand for products or services

inelastic

Juan Martinez, a researcher for ABC Research Group, is working on crafting a survey for a client. He is concentrating on framing the questions, selecting response choices, refining the wording, and determining how many questions to ask. In the context of establishing the research design, Juan is focusing on the ________.

information content

The ________ of performance and consumption of services heightens the role of human service providers in a customer's experience.

inseparability

While goods can be experienced through sensory perception, services cannot. This relates to the ________ characteristic of services.

intangibility

Informing and educating the target audience about the product's benefits and features is part of the communication strategy in the ________ phase of the product life cycle.

introduction

When a company is focused on uncovering needs that customers do not realize they have, it is using a ________ strategy.

market driving

Peter Drucker, the father of modern management, stated that the business function(s) of an organization include ________.

marketing and innovation

the face-to-face time between customer and service provider is often called the ________ because that is when customer judgments take place

moment of truth

The B2B customer buying process is ________ than the consumer purchase decision process because it takes longer and involves more people, making the seller's job more challenging.

more complex

The marketing manager of Big Wheel Motors notices an increased demand for "green" cars that use less fossil fuel and emit fewer pollutants. Under which of the following external information sources for making marketing decisions will this information be included?

natural world

________ segmentation recognizes that there may be a number of consistent needs and wants demonstrated by consumers based on what type of job they have.

occupational

________ fulfill an important role by classifying, explaining, and then bestowing information, most often to family and friends but occasionally to a broader audience.

opinion leaders

Organizations communicate one or more sources of value to customers in a way that the customer can easily make the connection between his or her needs and wants and what the product has to offer. Execution of this approach is referred to as a firm's ________ strategy.

positioning

When Target had a data breach that resulted in the loss of the personal information of 40 million customers, it ________.

postponed a campaign focused on Target's corporate citizenship

At Nancy's Natural Potato Chip Corp., the company always take into account the quality of the ingredients going into the snack foods it produces and recently rejected a supplier who claimed to use all-natural ingredients but actually did not. What part of the marketing mix did this claim affect?

product

A luxury car dealership assigns a service representative to each customer. This service rep handles all routine and emergency service appointments, writes thank-you letters, and advises the car owner when the next service date is anticipated. This dealership has adopted a ________ approach.

relationship orientation

The ________ dimension of the SERVQUAL scale relates to delivering what is promised every time.

reliability

The most fundamental criterion in vendor selection is ________.

reliability

Which of the following is NOT a distinct characteristic of services that is different from physical goods?

reliability

The choice of generic strategy is usually driven by ________ capabilities of the firm, as well as the ________.

resource; competitive landscape

In the service-profit chain, customer satisfaction leads to customer loyalty, and results in __

revenue growth and profitability

Any influence on the product and supplier choice is an organizational factor. The primary organizational factor is ________

risk tolerance

An individual moves through stages before adopting a product. During the interest stage, consumers ________

seek out added information about a product for further evaluation

Sociologists look for defining events such as major economic upheaval, wars, and ________ as triggers for generational change.

sociocultural revolution

A beer manufacturer has noticed that the cost of hops has increased four times in the last year. A description of this would be found in the ________ section of the SWOT analysis.

threats

When a sales representative calls on a customer, or a call comes in to the customer service center, these are called customer ________.

touchpoints

A firm with a production orientation assumes that if you have a great product, customers will come to you.

true

According to the BCG matrix, a business that is classified as a cash cow has high market share and low growth.

true

Brad's company is in the process of determining the best way to get enough wood to build the furniture that they need to manufacture. This represents the value-creating activity of inbound logistics.

true

Even if companies do not engage in direct foreign marketing, they may still sell abroad through intermediaries.

true

Of all the business fields, marketing is the most visible to people outside the organization.

true

The marketing management team of Superior Foods Inc. hired a research firm to collect preference data from consumers in several former Soviet Bloc countries. However, the researchers struggled to get these data, especially from older citizens who were afraid that the information would be used against them, as it had been when they were under a Communist government. Which of the following problems associated with collecting primary data in global markets does this scenario exemplify?

unwillingness to respond

When the Chicago police are investigating a crime, they use video from posted cameras, verbal accounts from eyewitnesses, text from social media, and video and audio from police officers' body cameras. What feature of Big Data is BEST represented here?

variety

In a service blueprint, activities are divided between those above and those below the line of ________ to a customer.

visibility

relates to the amount of data produced, which is generally measured in bytes, given the digital media in which data is most commonly stored.

volume