MKG exam 3

which of the following is true of primary data?

Primary data are collected specifically for the research problem at hand.

The marketing research process has five basic steps. at the culmination of the research process the firm is expected to

Take Action

Gravity is a successful and popular ice cream parlor in the community. it sells a variety of soft serve and hard ice cream flavors. its main competitor, dairy twist is also popular. in addition to offering its customers a robust menu of soft serve and hard ice cream flavors, it offers a menu of local seafood snacks, which costumers love. if Gravity were to research whether to add more similar food items to its menu, what should it do first?

clarify whether gravitys research problem, is to add food items to its ice cream menu or whether its loyal costumers want food

the fact that you see s Starbucks on practically every corner would indicate that Starbucks is most likely geographically segmenting based on

costumer conveince

deciding whether primary data, secondary data or sometimes both will provide researchers with the answers they need to answer their research problem takes place at which step of the marketing research process?

data collection

to understand what items are most likely to sell from on campus vending machines, a company distributes surveys and holds a few focus groups of vending machine users on different campuses. the company is in what step of market research process?

data collection

which of the following lists comprise the four broad bases of market segmentation

demographic, geographic, psychographic, behavioral

Rico's firm manufactures homemade salsa. His product is sold around the country, but he adds extra jalapenos to his product sold in Texas, New Mexico, and Arizona because those customers prefer the extra heat and spice. Rico also markets the product differently based on the region of the country where it is sold. This represents what type of targeting strategy?

differentiated

market segmentation refers to

dividing a larger market into smaller groups based on meaningfully shared characteristics

devin and Claire are in the process of buying their first home. they told their realtor that the house they purchase must be close to the train station because that is how they commute back and forth to work. Being close to the train station is part of Devins and Claires

evaluative criteria

when consumers seek information beyond their personal knowledge and experience to support them in their buying decision, they are engaging in an

external information search

consumer tastes for everything change from time to time, which is why its important to constantly evaluate customer ___ when deciding how to best position a product

feedback

this buying center member can offer opinions about a product or set buying specifications, but not make the actual purchase

influencer

which of the following statements represents a purchase decision

its been a long day and you do not want to cook dinner, you decide to order take out

what are the two types of involvement influence on consumer behavior

low, high

weir markets will offer its costumers a free turkey or ham around the holidays if they accumulate enough shoppers points on their weis cards. this strategy of behavioral segmentation relies on which behavioral variable

loyalty

At which step in the marketing positioning process would a firm develop a perpetual map

step 1: analyze competitors positions

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

strategic fit

which market segment criterion refers to the fact that segments must be large enough for the firm to make a profit by serving them

substantial

the group of customers toward which an organization has decided to direct its marketing efforts is called its?

target market

when marketers evaluate each market segment and determine which segment or segments present the most attractive opportunity to maximize sales, this process is known as

targeting

John works for a consumer products company. his job is to collect interpret and report information that will help his company develop new products. johns work involves

marketing research

marketers can classify business to business buying situations into three general categories

new buy, straight rebuy, and modified rebuy

a targeting strategy that involves pursuing a large share of a small market segment is referred to as

niche market

what type of qualitative research involves watching how people behave and recording behaviors that are relevant to the research objective

observation

in maslows hierarchy of needs, what need must be satisfied first before a person will seek to satisfy any other need

physiological

the activities a firm undertakes to create a certain perception of its product in the eyes of the target market is referred to as

positioning

the positioning strategy allows a firm to highlight its competitive advantage as a cost savings firm that offers quality goods at low selling prices

price/quality relationships

a firm seeking problem specific info that allows for a more nuanced understanding of their customers behavior should focus on collecting

primary data

the marketing department of a large department store is poring over its research that consists entirely of data from focus groups, observations, and surveys. what is the source of the department stores marketing information

primary data

which two dimensions are measured by the VALS framework

primary motivation and resources

the first step in the consumer decision making process is

problem recognition

who are the primary targets of B2B marketers

professional purchasers

stores like Cabelas, REI, and Pro shops that cater to outdoor enthusiasts most likely use what type of segmentation strategy?

psychologic segmentation

which of the following describes why milk would be considered a product purchased using routine problem solving

regularly purchased, low level involvement, high purchase experience

this type of business market does not produce its own products, rather, it purchases ready made goods and redistributes them to end users for profit

reseller market

As a wholesaler, Charlie buys a large amount of meat products from various livestock farms around his county and redistributes them to different grocery stores and restaurant retailers in his town for profit. These retailers then sell same products directly to the end user. in this scenario, Charlie, the supermarkets, and the restaurants exemplify

reseller markets

Yuri is a new car owner and has invested in the best auto insurance to satisfy which of the following on maslow's hierarchy of needs

safety need

the US army slogan "be all you can be" appeals to which level of maslows hierarchy of needs

self- actualization

the individuals a consumer would like to emulate make up his or her ___ reference group

aspiration