Midterm Review

According to the​ text, two major public policy and ethical issues in marketing research are​ ________

intrusions on consumer privacy and the misuse of research findings

A​ _______ defines how a company will create differentiated value for targeted segments and what positions it wants to occupy in those segments.

value proposition

What are the five stages of the consumer adoption process in the correct​ sequence?

Awareness, interest,​ evaluation, trial, and adoption

A whitepaper is an example of which type of marketing information?

Marketing Intelligence

What is a​ product's position?

The way a product is defined by consumers on important attributes

Bic believes that saving handwriting will serve short-term customer needs and their long-term welfare. This represents which marketing management orientation?

Societal Marketing Orientation

Consider the Cultural forces in our macroenvironment. Persistent beliefs and values which are passed on from parents to children, and reinforced by schools, businesses, and religious institutions are called _______ values.

Core

A potential downside to using a mobile app for ethnographic research is that _____.

customers may forget to use it.

In its communications to customers and​ investors, iRobot proclaims that its goal is to​ "design and build robots that make a difference in​ people's lives." Identifying the​ company's mission is the first step in the​ ______________ process.

strategic planning

Share of customer helps companies measure __

their percentage of spending from specific buyers in the market

What are the four major variables used to segment consumer​ markets?

​Geographic, demographic,​ psychographic, and behavioral

Actors close to the company that affect the organization's ability to serve its customers are part of the company's __

microenvironment

Marketing is the process by which companies create ____ for customers and capture ___ in return

value; value

How might Ben & Jerry's measure the ROI of its product mission?

Share of customer

Perceptual positioning maps are used to show a company the consumer perceptions of their brands vs. those of their _______

competitors

According to the article you read, the sales funnel is an outdated model because _______

shoppers expand and contract their set of choices throughout the process

In order to better understand​ consumers' perceptions of the taste of​ Domino's, the research team utilized an online listening​ approach, examining unsolicited opinions about their pizza on social networks. This approach would best be described as​ __________:

Observational

What are the eight steps in the business buying decision process in the correct​ sequence?

Problem​ recognition, general need​ description, product​ specification, supplier​ search, proposal​ solicitation, supplier​ selection, order-routine​ specification, and performance review

AT&T's "the best 4G network" represents which marketing management orientation?

Product concept

Offering modified or new products to current markets represents which expansion strategy?

Product development

To adapt to its changing market environment, BIC decides to develop a new stylus product for touch-screen tablet devices, targeting parents and teachers who currently buy BIC pens and pencils. Using the Product/Market Expansion Grid, this is an example of what strategy?

Product development

In the Growth Share Matrix (aka BCG Matrix), SBUs that represent new innovations / new product launches typically start in which quadrant?

Question mark

What are the five characteristics that are especially important in influencing an​ innovation's rate of​ adoption?

Relative​ advantage, complexity,​ compatibility, divisibility, and communicability

In order to assess the effectiveness of its​ "Oh Yes We​ Did" ad​ campaign, Domino's tested the ad using a small group of individuals it thought was representative of the overall market. This group of consumers is called a​ __________.

Sample

The video suggests that a key challenge for​ Goodwill's marketers is to change the view of many consumers that secondhand stores are​ musty, low-class operations with​ poor-quality merchandise. This exemplifies the psychological concept of​ __________, which is the process by which people​ select, organize, and interpret information to form a meaningful picture of the world.

perception

According to the​ video, some individuals living in trendy neighborhoods choose to shop at Goodwill boutiques in order to find fashionable clothing and​ "shabby chic" furniture. According to​ Maslow's theory of​ __________, such shoppers are likely seeking to satisfy social or esteem needs.

motivation

To deliver real value to​ marketers, marketing information must​ _________.

provide useful customer insights

Which of the following statements regarding the business market is​ correct?

Many sets of business purchases are made for one set of consumer purchases.

A web usability study is an example of which type of marketing information?

Market Research

In perceptual positioning maps, what does the size of each circle represent?

Market share

The value of an offering is its perceived ___ minus its perceived ___

benefits; costs

When customer expectations exceed their actual experiences, the result is ___

satisfaction

For a ski jacket manufacturer, a very snowy winter would be considered a/n __________ in SWOT analysis.

Opportunity

To a recreational soccer player, what do tase Nikes represent?

Want

Which type of business buying situation offers marketers the greatest opportunity but also the greatest​ challenge?

A new task situation

A call center report is an example of which type of marketing information?

Internal Data

What are the three general sources from which marketers can obtain​ information?

Internal​ data, marketing​ intelligence, and marketing research

Which of the following is true of an undifferentiated (mass) market strategy?

It is less expensive than a differentiated strategy

Using the sales funnel framework, a rational, considered purchase of an expensive item typically follows what process?

Know--> Feel--> Do

In terms of order revenue, business transactions are typically _____ vs. consumer transactions.

Larger

I am skeptical, and tend to upgrade my phone to the newest model only after a majority of people have already adopted it. This makes me a/n ________.

Late Mainstream adopter

In terms of time, the business decision process is typically _____ vs. the consumer decision process.

Longer

Which of the following are additional variables marketers use to segment business markets but not consumer​ markets?

Operating​ characteristics, purchasing​ approaches, situational​ factors, and personal characteristics

In which step of the buying decision process is the final order with the chosen supplier​ developed?

Order-routine specification

When iRobot introduced new robot models that would clean gutters and mop​ floors, this innovation represented which type of market growth​ strategy?

Product Development Strategy

A growing number of college students have a laptop or tablet with them at all times. Using SWOT analysis, what does this represent for Bic?

Threat

According to the​ video, iRobot is seeing a lot of competitors coming out with​ lower-priced and​ lower-quality knockoffs. The result is a perception that robot vacuums do not work well. With respect to the broader SWOT​ framework, this analysis would fall under which​ dimension?

Threat

Why do companies use customer relationship​ management?

To capture and use customer data

Which of the following is true regarding international marketing​ research?

Translating questionnaires from one language to another is not an easy task.

Some customers have continued to purchase Bic pens for many years, and prefer more expensive designs and colors. To which customer relationship group do these customers likely belong?

True Friends

Which structural factor would make a market segment attractive to​ enter?

Very few actual or potential substitute products

_____ are internal limitations that may interfere with a company's ability to achieve its objectives

Weaknesses

In order to determine which combination of​ crust, sauce, and cheese options work best​ together, the​ Domino's researchers employed​ a(n) __________ research design.

experimental

Evaluating each market​ segment's attractiveness and selecting one or more market segments to enter is called​ _____

market targeting

BK's "have it your way" slogan represents which marketing management orientation?

marketing concept

The people and procedures dedicated to assessing information​ needs, developing the needed​ information, and helping decision makers use the information to generate and validate actionable customer and market insights comprise a​ ________

marketing information system

Goodwill adapts its store formats and merchandise plans to match the innovativeness and disposable income of shoppers in nearby neighborhoods. For​ instance, customers of its boutique store in the​ Haight-Ashbury neighborhood of San Francisco are more likely to demonstrate greater​ __________ for trendy fashions.

rate of adoption

The buyer decision process starts with​ __________

recognizing a need

Customer satisfaction relates to how well a market offering meets or surpasses ___

customer expectations

What do marketers use to analyze big​ data?

Marketing analytics

The best, but least sustainable, winning value proposition is _______.

More for less

What are the four general characteristics that influence consumer​ purchases?

Cultural​ characteristics, social​ characteristics, personal​ characteristics, and psychological characteristics

I want to divide up the market based on the benefits different audiences get from using my product. This is an example of _______ segmentation.

Behavioral

This headline reflects which macroenvironmental force? "Drought Threatens NH Dairy Industry"

Natural

Market Segments which are ____ are large enough to build a marketing plan around.

Substantial

What is big​ data?

Data contained in huge and complex data sets

Which type of targeting focuses on going after a large share of one (or a few) target segments?

Niche marketing

What is the name of the industry program (and icon) that shows when a digital ad has been targeted using prior web browsing behavior?

Ad choices

I splurged on an expensive vacation in Hawaii 7 years ago but have not traveled much since. The resort likely now views me as a __

Butterfly

How might Ben & Jerry's measure the ROI of its social mission?

Carbon footprint

In the US, Bic's writing products SBU has high market share, but the market is shrinking. Using Business Portfolio Analysis (aka BCG Growth/Share Matrix), how would you classify this SBU?

Cash Cow

If Coca-Cola wanted to study the impact of changing the taste of Coke on purchase preference, they could have undergone _____ research.

Causal

In the article you read, McDonald's is criticized for targeting its marketing to kids, particularly ______________

Children of color

What are the four steps of the marketing research process in their correct​ sequence?

Define the problem and research​ objectives, develop the research​ plan, implement the research​ plan, interpret and report the findings

The​ Domino's leadership team determined that while it was a great delivery​ company, the poor taste of their pizza was an impediment to future growth. To what stage of the marketing research process did this realization​ correspond?

Defining the problem and research objectives

The following headline reflects which macroenvironmental force? "Retailers should focus on aging baby boomers, not millennials, as profit centers"

Demographic

Which type of targeting focuses on going after several market segments, with a separate offering for each?

Differentiated marketing

What is market​ segmentation?

Dividing a market into distinct groups of buyers who have different​ needs, characteristics, or behaviors and who might require separate marketing strategies or mixes

According to the BCG Growth Matrix, ___ are low-growth, low-share businesses and products. They may generate enough cash to maintain themselves but do not promise to be large sources of cash

Dogs

This headline reflects which macroenvironmental force?"Laid-Off American workers are Having Better Luck Finding New Jobs"

Economic

BCG growth matrix should be adapted to help companies survive in unpredictable markets. This involves doing all of the following steps except:

Experimenting less WHAT YOU SHOULD DO: Accelerating the pace of innovation Increasing the number of "Question Marks" Selecting investments and divestments in a disciplined way

In 1985, Coca-Cola should have first undergone ______ research to gather preliminary info and create a hypothesis as to why people were drinking less cola.

Exploratory

What are the three types of objectives a marketing research project might​ have?

Exploratory​ research, descriptive​ research, and causal research

Companies should invest in retaining all customers who purchase from them (T or F)

False

In terms of the number of customers in the market, there are _____ Business buyers vs. Consumer buyers

Fewer

According to the article you read, which of the following is a good strategy for marketing during a recession?

Focus on family values

Aeropostale launches a campaign targeting preteens ages 11-12. What generation does the store hope to reach?

Gen Z

Which of the following correctly defines the consumer​ market?

Individuals and households that buy goods and services for personal consumption

The profile of the early Roomba customers reflected individuals who liked and were comfortable with technology and who also wanted a clean home. Dividing the larger population into smaller groups based on such characteristics is a practice known as​ _____________

Market Segmentation

The group of individuals in the video and the processes by which they gather information to help decision makers generate and validate actionable customer and market insights could be described as​ Domino's __________

Marketing information system

BIC's annual report says that it exists to "offer simple, inventive, and reliable solutions to everyday needs." A customer-focused, purposeful, aspirational declaration like this is also called a/an ____________.

Mission statement

What is the appropriate hierarchy in the strategic planning process?

Mission statement--> Objectives --> Goals

Consider Bic's macroenvironment. To which force is this campaign primarily responding?

Technological

What determines whether the buyer is satisfied or dissatisfied with a​ purchase?

The relationship between the​ consumer's expectations and the​ product's perceived performance

Buyer discomfort caused by post- purchase conflict is known as ______________

cognitive dissonance

When deciding among possible value propositions, marketers consider their price and unique benefits relative to their ____________

competitors

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

concentrated marketing

Just prior to the introduction of the​ Roomba, Electrolux introduced a similar robot in Europe that featured a​ sleek, space-aged design and a​ $1,500 price point. In​ contrast, the form factor of the iRobot Rumba was simple and its price point was much lower. Because of its unique​ ____________, the Rumba easily outperformed the rival product in terms of sales.

differentiation

According to the​ video, Goodwill has often had to cut prices due to poor​ ______ conditions.

economic

According to the​ video, Goodwill adjusts its merchandising and store formats in Northern California to better match the​ __________ of individuals living within those​ neighborhoods, as expressed by their respective daily​ activities, interests, and opinions.

lifestyle

According to the article you read for class, many companies are using _____ to gain more speed, scale, and efficiency from its ethnographic research efforts.

mobile apps