MKT 355 EXAM 2

which of the following would NOT be considered a reseller

Manufacturers

Which of the following best describes Russia's economy since the fall of the Soviet Union?

Multiple upturns and downturns

what analytical method does a firm typically employ to assess the target market and its own competencies

SWOT analysis

which buyer exemplifies a consumer who has a higher degree of internal locus of control?

Sally first spends time online comparing brands before she makes a purchase

Judging by their shopping behavior, which of the buyers below is perceiving a higher risk in the purchase of a laptop computer?

Suzanne searches online, asks friends at work for advice, and buys one after spending hours in multiple stores

for which of the following purchases is the typical consumer most likely to experience post purchase cognitive dissonance?

a new washing machine and dryer

What analytical took is used to display, in two dimensions, the locations of products or brands in the consumer's mind?

a perceptual map

A(n) ______ consists of three components. it is learned, long lasting, and might develop over a long period of time. For instance, you might like your instructor for much of the semester until s/he returns your first exam

attitude

which statement about attitudes is correct?

attitudes are usually long lasting but can also change suddenly

A(n) buying center culture may have multiple participants but one person makes the decisions alone

autocratic

business-to-_______ firms focus their efforts on buying and selling goods to be used in the production of other goods and services. Thus typically buying large quantities and involving multiple decision makers, to create value for those customers

business

___________-to-_____________ marketing refers to the process of buying and selling goods or services for use in producing other goods and services, for consumption by the buying organization, and/or for the resale by wholesalers and retailers

business; business

manufacturers, resellers, institutions, and governments are considered to be the min organization that make up ____________-to-___________ markets

business; business

a situational shopping influence might be promotional in nature and could include all of the following in-store activities EXCEPT _______

a fashion show

within a typical buying center, there will be someone who handles the paperwork for the actual purchase. This person is referred to as the ______

buyer

which attitude component influences the way consumers receive and process factual programming on TV about consumer and industrial products?

cognitive

Firms using a(n) "__________ targeting strategy" target several market segments with a diverse offering for each

differentiated

Which of the following is NOT a targeting strategy?

diffused

important attribues, or ____ criteria, consist of a set of salient, or important, attributes about a particular product. Examples of these attributes can be price, quality, location, time, ease of use, etc.

evaluative

Jon us using _____ when he bases his decision to purchase textbooks on price, condition, and location

evaluative criteria

Jim is familiar with several brands of mobile phones, but he plans to consider only two brands when he purchases his next phone. Those two brands are his ____ set.

evoked

A potential drawback to using psychographic segmentation is that it is a more _________ method than demographics to identify potential customers

expensive

the _______ center participants range from employees with formal roles in the purchasing decision to design team members who are requesting or specifying a particular team

buying

a family is going to make purchase decisions about a vacation. Which of the following statements about the process is NOT accurate

children are having less influence on the decision than in the past

consumer decision rules are the set of criteria that consumers use to quickly and efficiently select from among several alternatives. These rules are typically non compensatory or ________

compensatory

it is buyers' that shape the values, shared meanings, and behaviors of the social organization of their market, Often the entire county functions much like a reference group does at a more intimate level

culture

what is NOT defined distinctly as a reference group that might influence the buyer's choices and behaviors?

culture

exchange control is a term that refers to the regulation of a country's _________

currency exchange rate

QuickSlime Inc. has been running the same informercial for the past year. It claims one can lose 1- pounds the first week and 5 pounds every week after that. Sales started off strong for the first half of the year, but the last 6 months sales have been rapidly declining. What would be the best explanation of why sales are declining for QuickSlim

customers expectations were set too high, the product was not as effective as the ads promised, and consumers became unsatisfied with it

in a large organization where there are many purchasing requirements, it is the ________ who will have the authority of selecting a final supplier

decider

the ______ will be the person who ultimately determines any part of the buying decision

decider

when a large corporation sends out an email to all buying center members in which it requests suggestions on which suppliers to use and then bases it decision on the majority, this is referred to as _______

democratic

Marketers sometimes take into account the as people age, their needs change. his is an example of __________ segmentation

demographic

__________ segmentation variables include age, income, and gender

demographics

________ demand is when a consumer's demand for a firm's product affects the manufacturers' purchase of inputs needed to make that product

derived

How have joint venture regulations changes in India, encouraging more foreign investment?

foreign retainers are now allowed to own more than 50% of joint ventures

Judy quickly decides to buy mints at the supermarket checkout. This spontaneous purchase is indicative of ______ buying

impulse

according to the elaboration likelihood model, the _____ -involvement consumer pays less attention to the message and the bran, which results in weak attitude formation and requires more cues to remind the buyer of the brand.

low

less time and effort will be spent analyzing benefits and costs of information search when product price is _______

low

Which factor does NOT directly influence how the consumer makes a purchase decision?

macroeconomic factors

Trade agreements are signed by different governments to __________

manage and promote trade activities for a certain region

some firms buy raw materials, components, and parts that allow them to make their own goods. these firms are know as __________ or producers

manufacturers

when a firm gives an order to a supplier, it contains a detailed description of the goods requested, prices, delivery dates, and sometimes penalties for being late in deliver. This process is known as ________

order specification

when a firm places its orders with its preferred supplier(s), it engages in _________

order specification

Democratic, autocratic, consultative, and consensus are different types of __________

organizational buying cultures

the final step, and a very important element in retaining and building a loyal customer base, in the consumer decision-making process is the _______ behavior phase. (remember to type only one word in the blank)

postpurchase

the cross-cultural value dimension that defines how much the society respects those in authority by virtue of their social position is _________

power distance

which of the following is the correct explanation of non compensatory decision sets?

product purchase decision is made because it has an attribute, values above any of its other attributes, on which the consumer bases the decisions

VALS is the most widely used ________ segmentation tool

psychographic

the search for information is the ________ step in the consumer decision process

second

True of False: Brazil is currently in the top 10 of the world's largest economies

true

which of the following are key factors to keep in mind when marketers focus their assessments on the potential profitability of market segments, both currently and future

1. market growth 2. market access 3. market competitiveness

which of the following are typical in a new buy buying situation?

1. member involvement will be intense 2. several members of the buying center will be involved

correctly match the psychological factor that influences consumer decision making with the following buyer behavior examples in buying a Sony-Care electric toothbrush

1. motive --> the consumer knows he needs to keep his teeth and gums really clean and bacteria-free 2. perception --> the consumer feels like he is cleaning his teeth much better with the Toni-Care toothbrush and ends up brushing longer 3. learning --> the first time the consumer uses the Sony-Care toothbrush, he finds it messier but quickly gets used to it.

list the correct sequence of the causer decision process. starting from the beginning (top to bottom)

1. need recognition 2. information search 3. alternative evaluation 4. purchase 5. post-purchase

place the steps of the B2B buying process in order by placing the FIRST step at the top of the list and the LAST step at the bottom of the list

1. need recognition 2. product specification 3. RFP process 4. Proposal analysis and supplier selection 5. order specification 6. Vendor/performance assessment using metrics

which kind of risk does the consumer perceive he or she is facing in the following situations? Match the risk (on the left) with the corresponding situation (on the right)

1. performance --> Kurt worries that a rifle he bought will not work when he goes hunting 2. financial --> Kurt wants to buy his girlfriend an engagement ring but is not sure he can make the down payment required to purchase it before Valentine's Day 3. social --> Kurt listens to country western radio stations when alone but not when others are in the car with him 4. psychological --> Kurt likes "Cowboy Crunchies" breakfast cereal but has stopped eating is because he is starting to feel like it is childish

which are not steps in the formal business-to-business buying process?

1. post-purchase evaluation 2. commercialization

Hofstede's cultural dimensions concept believes cultures differ on which of the following dimensions? (Check all that apply)

1. power distance 2. masculinity 3. individualism

in stage 4 of the buy-in process, firms will often negotiate with suppliers over the key terms of the sale. which of the following issues are frequently discussed within these negotiations?

1. price 2. quality 3. financing

which needs might influence a person to purchase a luxury automobile?

1. quality 2.

which of the following statements about global population growth between the early 1900s and today are true? (Check all that apply)

1. rates of population growth are unevenly spread around the world 2. today less-developed countries are experiencing rapid population growth

match the following products/services with examples of the type of determinant attributes

1. rational --> a hybrid car gets 45 miles per gallon 2. psychological --> a buyer for a $900 purse can barely afford the item but waits and saves 6 months to buy the purse until it is shipped to the store and is available for purchase 3. rational and psychological --> a solar water heater uses less energy and the buyer feels good about being ecologically minded

Paul has been accepted as a student in a semester-at-sea program and has made a large nonrefundable deposit. He will be on the ship for three months. he is concerned about the cost and about spending that much time sailing. Paul might seek to reduce post purchase cognitive dissonance by doing which of the following? (select all that apply)

1. rereading the program literature and focusing on the benefits 2. seeking positive information from students who have participated in the program

What are the steps in market planning in order, beginning with the first step at the top?

1. segmentation 2. targeting 3. positioning

What are the three major components of psychographics segmentation?

1. self-concept 2. self-values 3. lifestyle

Which of the following are the three potential global product strategies? (Select all that apply)

1. selling a completely new product in the host country 2. selling a product in the host country with minor adaptations from what is sold in the home country 3. selling the same products or service in both the come and host country

Which of the following are examples of self-values?

1. sense of belonging 2. self-respect 3. self-fulfillment

The majority of B2B buying situations can be described as which three of the following?

1. straight rebuys 2. modifies rebuys 3. new buys

What are the three components of the STP process?

1. targeting 2. segmentation 3. positioning

identify the situation factors that could alter the consumer decision making at the time of purchase. (check all that apply)

1. temporal factors that might alter the buyer's state of mind 2. specific purchase experience

Some details used to evaluate the general economic environment include __________

1. the GDP 2. the trade deficit or surplus

if the value of the U.S. dollar decreases significantly compared with other important world currencies ________. (Check all that apply)

1. the cost of American goods and services become cheaper to foreign buyers 2. foreign goods and services imported to the U.S. cost more

Which of the following are major economic factors that firms consider when they conduct an economic analysis of a country market? (Check all that apply)

1. the general economic environment 2. the market size and population rate of growth 3. real income

which of the following are targeting strategies?

1. undifferentiated marketing 2. micromarketing 3. concentrated marketing

Which of the main value components are contained in the value proposition "SportsAde offers serious athletes a great-tasting way to stay hydrated during exercise"?

1. unique difference/benefits 2. target market 3. product/service category or concept

Nick recently bought a new MP3 player. Match the type of attribute set (on the left) with the type of alternative evaluation Nick experienced in the process (on the right)

1. universal Sets--> he considered all types of personal music devices 2. Retrieval Sets--> he remembers six top brans such as Apple, Sony, and Panasonic 3. Evoked Set--> When deciding where to buy, he limited his choices to Sam's Club, Best Buy, or Costco 4. Determinant attributes--> He buys an Apple iPod because it is user-friendly

direct investment requires a firm to maintain ________ ownership of its facilities, offices, ad plants in a foreign country

100%

a nurse needs to purchase new shoes to wear at work, but she is concerned that they might now provide enough support during her long hours on the job. The risk she is experiencing is _______

performance

Bennie has been trying to convince his parents to buy him a used Chevy Corvette, a popular American sports car. They are afraid owning a shirts car will encourage him to drive fast, possibly resulting in his injury in an auto accident. Bennie's parents are concerned about ______ risk

physiological

which of these is NOT one of the three components of an attitude?

physiological

Global marketing strategies includes two elements: identification of the target markets and __________

developing and implementing the marketing mix

Ford Motor Company owns Ford, Lincoln, Mercury, and Volvo automotive brands, each with vehicles appealing to market segments with different needs and lifestyle choices. Ford uses this variety of brands to pursue a(n) _________ targeting strategy

differentiated

which of the following global strategies involves the most risk?

direct investment

It is important to ensure that segments are distinct from one another because too much overlap between segments means that _______

distinct marketing strategies are not necessary to meet segment members' needs

customers dissatisfaction is most likely to occur when a consumer buys a washing machine and it _____

fails to live up to high performance expectations

true or false: the statement, "Sometimes things just are not meant to work out," is an example of an internal locus of control

false

true or false: when a consumer categorizes their universal set alternatives in their minds: retrieval sets and evoked sets are no included

false

______ is one of the most substantial influences on buyer behaviors and attitudes. It is the smallest, most immediate reference group with whom one learns how to use consumer products and services and the brans they often continue to use for life.

family

The total market value of all goods and services produced by a country in a year is known as the country's _________

gross domestic product

__________ consists of GDP plus the net income earned from investments abroad.

gross national income

Chris buys a bag of Doritos taco chips several times a month to eat with his friends while watching sports. He pays little attention to the price and always buys the same size bag of Cool Ranch flavor. Chris makes a(n) ______ limited problem-solving decision.

habitual

Marketing positioning involved a process of defining the marketing mix variables so that the target customers _________

have a clear, distinctive understanding of the product

Prices are often different in the global marketplace than they are in the home country because a firm's products may not _________

have the same positioning as they do in the home country

a real benefit of the consumer expecting there will be a positive response to their comment or complaint is ______

he or she is less likely to spread negative word-of-mouth

Determinant attributes are employed by consumers to ______

help them differentiate competing brands or stores that seem similar to them

As a fairly complex decision-making product and a category that is new to most buyers, a hybrid car would most likely be a(n) _____ purchase for the average buyer

high-involvement

Barbara asks her boss what flavors of ice cream he eats and he replies: chocolate chip, mint chocolate chip, and cherry chocolate chip. Those three flavors are described as __________

his evoked set

in the process of making an organizational purchase, the __________ will often follow the lead of the initiator in the sequence and make recommendations on the brans, model, or type of products to buy

influencer

the person who may agree with the initiator and convince others in the firm to agree with buying a particular item it called a(n) _______

influencer

Karen just got a haircut, and she is exhibiting normal post-purchase behavior. that behavior could be any of the following EXCEPT

information search

__________ is defined as the basic facilities, services, and installations needed for a community or society to function, such as water and power lines, and public institutions

infrastructure

Within a typical buying center, the _________ is the person who first suggests buying a particular product or service.

initiator

Hospitals, universities and religious organizations could be considered ________ to which a B2B vendor would sell products

institutions

Barry needs a new pair of running shoes. He first thinks about the last pair he bought, how comfortable they are, and how well they have held up. He is conducting a(n) _______ search for information.

internal

what are the two types of information search? (Select all that apply.)

internal search external search

routine purchases may only require ____ information search, whereas one-time high expense purchases require more ____ information search time

internal; external

consumers may have different levels of ____, which is known as the consumer's degree of interest in a product or service

involvement

Siemens is a German-based firm producing everything from bullet trains to light bulbs, It engages in business-to-business transactions. Siemens works with other firms to help solve their problems often in the health care and energy industries. Based on the previous information, which category would Siemens most appropriately fall under?

manufacturers

__________ is the process of creating a clear, distinctive, and desirable understanding of he product in the consumer's mind relative to competing products

market positioning

Firms spend millions of dollars to develop brand names that have no preexisting meaning in any known language because __________

marketers want to avoid potential embarrassment that language confusion can cause

globalization refers primarily to the evolution of ________

markets

When a firm adapts a product or service to meet and individual customer's wants or needs, it is undertaking an extreme targeting strategy called _____________

micromarketing

in order to improve the probability of customer satisfaction, the marketing manager is advised to do all of the following EXCEPT

minimize communication with the customer once the sale has been completed

you place an order with you usual office supply vender, except this time you upgrade the quality of the printer paper you are ordering, this is referred to as a _________

modified rebuy

When adopting strategies for entering a new market, many firms follow a(n) approach the may morph and become _________ over time

more risky

VALS enables firms to identify target segments and their underlying ____________

motivations

the drive or need that pushes the consumer to satisfy his unmet needs, such as having no laundry detergent to do the wash or running out of printer paper, is a(n)

motive

A consumer is evaluating options and weighting choices to determine where to hold a wedding reception. The beauty of the venue, size of the parking lot, quality of the food, and number of tables and chairs are among the factors being weighted. The buyer is using a(n) ________ model to simplify the task.

multi-attribute

Because each segmentation method has its unique advantages and disadvantages, most firms often employ _________ methods

multiple

Bill feels that he has been treated poorly and quite unfairly by the electronics store where he bought speakers. He is a customer who is very likely to spread bad or ______ word-of-mouth about the firm to his friends and family

negative

John is unhappy with the way the plumber fixed his problem in his kitchen, but he feels has no leverage with the plumber, has essentially no recourse, and has to simply pay the bull. Under this condition, John is likely to engage in _______

negative word-of-mouth

Dave had been looking for an interior decorator. He found a few good options but hired the person who was most comfortable with dogs, even though some of the other decorators had more positive online reviews. Dave Dows not want to have to put his large, elderly dog outside white the decorator is working, and he's not willing to compromise on that point. What type of decision rule did Dave use to pick an interior decorator?

non compensatory

_________ segmentation is a very specific form of behavioral segmentation by which segments are formed based on use of the product or service for a special event or activity, rather than everyday activities

occasion

in order to try to make their products eye-catching as their compete for shelf space with other brands, companies invest effort and funds in the situational influences of ________

packaging

A(n) __________ consumer is fairly undesirable to the marketer because e is not loyal, does not repeat the purchase, and makes no positive word-of-mouth communications to other potential customers

passive

As a consumer views a package of crackers on the store shelf, he first recognizes and identifies the shape, then the color, then the items located around it. As he integrates that brand image into his knowledge of the choices in the product category, it is ______ that interprets the images and stimuli differently for each consumer

perception

the social influences that affect a consumer's behavior do NOT include

perceptions

David's moth has forced him to buy a new pair of shoes that he thinks are very uncool. he is afraid his friends will laugh at him if he wear them. David's worries about the shoes are an example of ______ risk

social

factors that influence consumer behavior and are a part of the external _______ environment, include consumers' family, friends, reference groups, and culture in which they operate

social

when a consumer's choice is altered by members of his family, his reference group, or his culture, he is being influenced by _____ factors

social

Because consumers' tastes shift, markets are not ______ and competitors must therefore ______ those shifts

stagnant; react to

marketers might be less interested in countries with the highest purchasing power because of __________ growth and saturated markets

stagnated

in ________ rebuys, the buyer is often the only member of the buying center involved in the process

straight

when the office supplies arrive at your office and the order consists of the same units as products that have been purchased in the previous quarter, this is referred to as a ________

straight rebuy

Once the firm understands how its competitors' brands are viewed by the consumer, it should next ________

study how the competitors have positioned themselves

Some ______, such as the Nike swoosh, are so strong and well known that they help position the brand

symbols

A(n) __________ is a tax levied on a good imported into a country

tariff

Ben normally buys a newspaper and cup of coffee on his way to work in the morning, Today though, his dog ran away, and he did not have time to stop by the convenience store for his regular purchases. A(n) ________ situational factor altered regular behavior

temporal

one of the most difficult of situational factors with which to deal is the _____ state. The marketer often is unaware of the preceding of antecedent events that customer experienced

temporal

situational factors often include ______ factors, such as the fact the store closing in a few minutes

temporal

Which of the following is an example of occasion segmentation for a chocolate maker?

the company offers some of its chocolates in hear-shaped boxes for Valentine's Day

Retailers measure _____ to see how well they are doing at turning potential buyers into actual buyers

the conversion rate

when a doctor schedules you for a surgery and requests that the hospital have specific instruments and supplies for you procedure, who initiates the buying process?

the doctor

the buyer's intent might be thwarted while making the purchase because of all the following situational factors EXCEPT

the fact that cultural influences such as cell phones are not valued in that society

A risk in using franchising as a global entry strategy is _________

the need to share profits

One of the biggest problems for marketing managers that results from dissatisfied customers is _______

the possibility of negative word-of-mouth about the product

In the Circle for a Successful Value Proposition, the best situation for a firm is it:

the product or service overlaps with customer needs and wants, but not with competitors' offerings

which of the following statements is true about the Chinese economy?

the retail market of China rivals that of the United States

Firms position their products based on methods such as _________

the value proposition, salient attributes, symbols, and competition

which statement about metrics is true?

they are NOT likely to give a full picture of the economic health of a country if they are based solely on material output

what is a reason why marketers like habitual purchasers?

they are unlikely to consider other brands

After establishing overall objectives, why do marketers then use a particular method or combination thereof to develop and describe market segments?

to help firms understand the profile of each segment

Symbols are generally registered _________ that are legally protected by the companies that create them

trademarks

the four key elements of a country's infrastructure are __________

transportation, Distribution channels, communications, and commerce

A small producer who decides to tailor its offering to suit a customers want or need is most likely pursuing a micromarketing targeting strategy

true

True or False: to go business in less developed nations, firms often adjust products or prices to make their offerings more affordable

true

True or false: a firm assesses attractiveness of a target market and its own competencies using a SWOT analysis

true

True or false: the global population has been growing dramatically since the turn of the 20th century

true

True or false: the statement "Life tends to unfold the way it should" is an example of external locus of control

true

true of false: A global marketing mix is more complicated than a domestic marketing mix

true

true or false: Consumers often evaluate alternative while still engaged in the search process

true

A Caribbean resort wishes to identify customers than can afford and have the most interest in taking tropical vacations. Using the VALS framework, the resort can develop a successful advertising campaign based on the _________ of its target customers

underlying motivations

For a product such as sugar that will appeal to almost everyone, the firm is most likely to use a(n) ________ targeting strategy

undifferentiated

When everyone is considered a potential user of its products, a firm should use a(n) _______ targeting strategy

undifferentiated

when firms sell commodities, or products that are considered the same as those of its competitors, it should use a(n) _________ targeting strategy

undifferentiated

in the first stage of the B2B buying process, the buying organization recognizes, through either internal or external sources, that it has a(n) _______ need

unfulfilled

even if a firm has developed a product that addresses the needs of a specific, substantial market segment, its efforts will fail is the segment is __________

unreachable

the individual or part who will consume the purchased product or service is the ___________

user

the role of a(n) __________ within a typical buying center will be to consumer or use the product or service

user

Like business-to-consumer firms, business-to-business firms ultimately seek to create ____________ for customers

value

the _______ communicates the customer benefits to be received from a product or service - in other words, why a customer should purchase the product

value proposition

stage 6 of the B2B buying process is also known as ________ performance assessment using metrics

vendor

limited problem solving is most likely to occur under which condition?

when the consumer has a purchase decision that calls for, at most, moderate effort and time

which of the following is NOT a way to perform an internal search for information when deciding where to get lunch?

you go to a new area of town and look around

which psychological factor is learned and very enduring

attitudes

what are the factors considered in the analysis of profitability of a market segment? (Select all that apply)

1. market competitiveness 2. market growth 3. market access

Which two of the following are franchises?

1. A McDonald's restaurant 2. A Holiday Inn motel

when hertz rent a car decides to expand its fleet, several companies as well as consumers will be involved. financial services will be provided by banks, and the actual fleet of cars will come from auto manufacturers. hertz will rent the cars to consumers in this scenario which of the following are involved in B2B marketing

1. Banks, financing Hertz's car purchases 2. Auto manufacturers, selling cars to Hertz

a designated angry in each country sets the rules for currency exchange. What are some examples of this agency? (Check all that apply.)

1. Federal Reserve 2. Central Bank

There are several factors that can substantially affect the consumer search process/ Match the factor with an example of how the search process might be affected for Kristen, a graduate student at a large university

1. Perceived Risk --> Kristen is worried that laptop she is buying will not have adequate memory for her needs 2. Locus of Control --> Kristen has no choice of brand when it comes to laptops - her department uses special software that only runs of Apple computers 3. Perceived Cost/Benefit Analysis --> Kristen tries to decide between two laptops: one with a large hard drive versus one for $100 less and a smaller hard drive

match the following drive (on the left) with the example of the application of the motive (on the right)

1. Physiological --> the customer is hungry and buys a fast food meal 2. Safety --> the customer buys a new lock for her house 3. love --> the customer buys a dog which is caring 4. self-actualization --> the customer buys a ticket for an around the world adventure to places he had always wanted to visit

Pricing in the global marketplace is a difficult task for which of the following reasons? (Check all that apply)

1. many countries have rules governing the competitive marketplace 2. issues such as tariffs and anti-dumping laws might exist

Match the following situational factors with an appropriate example of that situation

1. Purchase situation --> Betsy is buying a bottle of wine as a gift to bring when going to a friend's house and not for personal consumption 2. Store atmosphere --> Betsy is unconsciously humming to Christmas carols playing in the grocery store and buys two bags of red and green Hershey Kisses 3. Crowded--> Betsy spent 2 hours selecting items at Taget but abandons her cart at the checkout counter where every line has at least eight people ahead of her 4. in-store demonstrations --> Betsy has never bought quiche previously, but today she bought a large frozen quiche at Costco after a small sample

Which of the following are descriptive criteria considered by marketers to evaluate whether a segment is attractive and worth pursuing? (Select all that apply)

1. Substantial 2. profitable 3. identifiable 4. reachable

Firms such as Toyota use formalized assessments of vendors' performances in B2B transactions to identify which steps should be taken by Toyota. Which three of the following steps are valid?

1. actually assign a value to each of these issues (e.g. on a scale from 1-5) 2. get the overall performance by multiplying together the scores for the vendor across every issue 3. determine how important each of these issues are

which of the following are general types of organizational buying cultures?

1. autocratic 2. consultative

which of the following are marketing segmentation approaches?

1. benefits 2. geographic 3. psychographics

as part of any foreign market assessment, firms assess a country's infrastructure and which of the following? (Check all that apply)

1. commercial infrastructure 2. communications system 3. distributions channels

which of the following are reasons marketers must adapt their global distribution strategies for developing countries? (Check all that apply)

1. consumers shop in small, family owned retain outlets 2. foreign firms often cannot reach them easily.

which of the following would be considered appropriate methods for a firm to use when engaging in the request for proposals (RFP) process?

1. contacting potential suppliers directly 2. the buying firm posting its RFP needs on its own website

Which of the following are the Circle for a Successful Value Proposition?

1. customer needs and wants benefits offered by competitors 3. the company's offerings

match each method of ensuring post purchase satisfaction (on the left) with its example (on the right)

1. demonstrate how to use the product properly --> Samsung provides a DVD with each microwave oven is sells showing how to prepare and cook dishes in the microwave 2. recognize loyal customers --> united Airlines periodically sends substantial coupons for upgrades to consumers who fly regularly 3. Solicit customer feedback --> Gillette builds an interactive blog and invites users to rate razors and discuss their complaints and preferences with other users.

which of a foreign market/the following are factors that firms consider when determining the ned for and level of product adaptation in a foreign market? (Check all that apply)

1. differences in product and technical standards 2. the country's level of economic development 3. cultural difference between countries

prior to finalizing a purchase, the procurement department may consult ____ to ensure that the purchase being made is suitable for the function it will have in the company

1. employees 2. design team members

List the following in order of the segmentation, targeting, and positioning process, with the first step at the top

1. establish strategy or objectives 2. use segmentation methods 3. evaluate segment attractiveness 4. select target market 5. identify and develop positioning strategy

crowding in retail stores can cause consumers to do which of the following? (Check all that apply.)

1. have difficulty making purchases 2. leave the store

in creating a perceptual map, a company should represent which of the following to hero determine the importance to give to specific markets?

1. ideal market points 2. market size

Match each buying role with the correct description

1. initiator --> person who first suggests buying the product 2. influencer --> person whose views persuade others 3. decider --> person who ultimately determines the buying decision 4. buyer --> person who handles paperwork of purchase 5. user --> person ho consumes or uses the product 6. gatekeeper --> person who controls information of access

Why should managers pay attention to the customer defection rate?

1. it affects the company's profits 2. it reveals how many customers switch to come other company each year

Many firms choose the direct investment strategy when entering foreign markets because __________ (Check all that apply)

1. it offers complete control over operations 2. potential profits are not shared with other firms

Which of the following lead to differences in communication strategies around the world?

1. literacy levels 2. advertising regulations 3. the availability of media

in which of the following situations is the consumer most likely to skip one or more of the stages of the purchase decision process?

Brain is buying a cup of coffee at the corner coffee ship, which he does most days

a manager can improve the firm's ability to retain loyal customers it already has by adopting a(n) ______ program that helps manage the relationship between the brand and the buyer

CRM

Jane is trying to decide which brand of cell phone to buy and cannot find one that meets all her criteria. To get all the features she wants, she would have to exceed her price point of $300. In making her decision, she will have to employ which model or decision

Compensatory

It is Patrick;s first day on a new job, and he has been invited to lunch with his colleagues. He orders a glass of beer to go with his lunch and is experiencing post purchase cognitive dissonance over his choice of beverage. Which of the following is the most likely cause of his regret over the choice?

He is the only one drinking an alcoholic beverage for lunch. He wishes he ordered a soft drink

the _______ social network is mainly used for profession networking in B2B markets

LinkedIn

need recognition would be greatest in which situation?

Pete returned home from work to find his refrigerator is broken and his refrigerated and frozen food must be thrown out

a firm's organizational ________ demonstrates the values, transitions, and customs that moderate its employees' behavior

culture

__________ is a market entry strategy in which independent companies form a partnership to collaborate in the foreign market but do not necessarily invest in each other

a strategic alliance

If a firm positions its product too closely to the competition, they risk ____________

a trademark infringement lawsuit

need recognition is the difference between the _____ state, such as the fact that the consumer is hot and thirsty, and the ______ state, in which a lemonade would be refreshing and would offer one solution to the problem

actual; desired

the level of economic development, as well as differences in product and technical standards, help determine the need for and level of product ______ in a global product strategy

adaptation

elements in a global communication strategy usually need to be _______ to the local market to be effective

adapted

Pete likes to watch the History Channel and regards it as his "default" channel when watching TV. If there is nothing else on, he always finds something on interest to watch, illustrating which of the three attitude components about the network?

affective

overall, culture affects _____ aspect(s) of consumer behavior

all

the consumer decision process is ______

all the steps consumers experience when trying to decide on whether or not to make a purchase

Michelle is looking for a new apartment. Her first option is located two blocks from her job. The rent is at the tope of her price range and it is smaller than she was hoping for. The fact that the complex is close to work and allows her to have her dog Mack, put it at the top of her lost. What are the perceived benefits of Michelle's possible new apartment?

allows pets proximity to work

Firms that with to change a products positioning should be aware that it is __________

always a challenge to do so

The Gap clothing company has limited resources and must make efficient and effective decisions to focus its efforts on a specific portion of the market

an undifferentiated target strategy

The first step in the segmentation process is to ____ the vision or the objective of the company's marketing strategy clearly

articulate

store managers and designers use lighting, textures and colors, music, and even scents to encourage purchases. These situational influences are store ____

atmospherics

A schoolteacher buys a video camera for his fifth-grade class, unsure how he will use it. He is surprised to find he is using it in class several times a day to capture learning experiences. The attitude component developed after purchase is the _______ component

behavioral

Southwest Airlines promotes its Rapid Rewards program to reward frequent flyers with benefits like free travel vouchers, priority seating, and premium beverages. This is an example of _________ segmentation

behavioral

_________ segmentation forms market segments based on the way consumers use a product, such as more frequently or with greater loyalty.

behavioral

for which reason are evoked sets important to the marketer?

being in the consumers' evoked set increases likelihood of purchase and reduces search time

When customers visit Hewlett-Packard's website, they can choose from different options based on what type of customer they are and what the purpose is for which they need a computer. This is an example of __________ segmentation

benefit

_________ segmentation groups consumers on the basis of the outcomes they seek and derive from the products or service, such as clothing, appliances, toothpaste, or paper towels

benefit

Marketers ask consumers a series of questions about competitor's products in order to determine the competing products' _____________ on consumers' perceptual maps

brand positions

by selecting only senior women golfers as the target and focusing all efforts on products to fit their needs, a firm is using a(n) ___________ targeting marketing strategy

concentrated

when a buying center purchases equipment based on a team's collective agreement, this is referred to as________

consensus

A(n) ___________ buying center relies on jus one person to make a decision but seeks information from many others and integrates it into the decision-making

consultative

a consumer goes to Walmart to get her son a birthday gift. This is an example of a business-to-__________ transaction

consumer

which of the following best describes Russian consumers' attitudes towards U.S. brands?

consumers show strong demand for U.S. products

Reaching rural populations using long supply chains in which goods pass through many hands adds _______ to products

costs

Based on standardized metrics marketers can identify _________ that are experiencing growth and increased globalization

countries

_________ is the shared meanings, beliefs, morals, values, and customs of a group of people

culture

as part of a global market assessment, firms analyze a country's _________ channels to determine whether the means exist to deliver products in a timely manner and at a reasonable cost

distribution

the number of middlemen that a seller deals with in a network determines the complexity of the global ________

distribution channel

Demographic segmentation is the most common segmentation strategy because these segments are __________

easy to identify

The ____ likelihood model proposes that high and low-involvement consumers process different aspects of a marketing message or advertisement.

elaboration

Which of the following facilitates globalization?

elimination of trade barriers

Since 1978, China's leadership has _________

embraced market-oriented economic development

dissatisfied buyers of products often need to tell someone about the bad experience. The impact of negative word-of-mouth can often be reached or eliminated by _________

encouraging customer feedback

A joint venture is formed when a firm ________ a new market and __________ its resources with those of a local firm to form a new shared company

enters; pools

A firm chooses its __________ after conducting internal market assessments

entry strategy

______ needs (from Maslow's hierarchy) allow people to satisfy their inner desires and achieve a respected lifestyle

esteem

having completed his information search, a consumer's next step in decision making is ________

evaluation of alternatives

four brands have dominated the potato chip market in St. Louis. nabisco is introducing a new brand, Chip Shape, next month. Chip Shape will probably have difficulty gaining any market share. The majority of buyers simply have no purchased anything but the four brans, which comprise most buyers' ______ set

evoked

consumers often use ____ problem solving for risky purchase decisions

extended

Typically, consumers exhibit two types of behavior when buying on the type of product or service they are purchasing. They commonly engage in ______ solving when buying a car or washing machine and in _____ problem solving when buying shampoo or a box of noodles

extended; limited

An ______ search is when the buyer looks for information beyond personal knowledge to help make the buying decision, such as checking the internet, asking a friend, or visiting a showroom.

external

charley would like to buy a high-end Sony laptop. The Sony costs 25% more then most others he has considered. What type pf risk if Charley experiencing?

financial

both the B2B and B2C buying processes use the same overall concepts (from recognizing a need through evaluation), but their approaches are a little different. B2B buyers are typically more ______ in their buying decisions, indicating their needs in writing and submitting formal proposals. In contrast, B2C buyers are usually more _______ in their buying decisions, where the purchase may be unplanned or even impulsive

formal; informal

Franchising is a contractual agreement between a firm, the franchisor, and another firm or individual, known as the ___________

franchisee

what is the type of need that pertains to the performance of a product to the performance of a product or service?

functional

Arthur lost his watch and needed to buy a new one. This time, he decided to purchase a $3500 Rolex instead of a $25 Timex watch. It made his feel successful. The purchase fulfilled which of the following type needs?

functional and psychological

the _______ is the role that controls information, access, or both to decision makers and influencers

gatekeeper

within a typical buying center, who is the person who controls information, access, or both to decision makers and influencers?

gatekeepers

Foster Designs sells different types of clothing for men and women. To ensure the retail store locations contain the appropriate assortment of clothing for the area, the firm should use ____________ segmentation

geodemographic

Segmentation that uses a combination of geographic, demographic, and lifestyle characteristics to classify consumers who may patronize stores close to their neighborhood is called _______ segmentation

geodemographic

Segmentation that uses a combination of geographic, demographic, and lifestyle characteristics to classify consumers who may patronize stores close to their neighborhood is called ________ segmentation

geodemographic

Grouping a market by country, region (Northeast, Southeast), or areas within a region is known as __________ segmentation

geographic

McDonald's promotes coffee in cold, rainy Seattle and seasonal seafood meals including lobster and crab in select markets like New England. This is an example of _________ segmentation

geographic

The strategy in which a firm decides to standardized its products globally but use different promotional campaigns locally is referred to as____________

glocalization

A point where a market segments desired product would be located on a perceptual map is called a(n)___________ point. (remember to type only one word per blank)

ideal

When a firm knows what consumers think of a product or service and its position relative to other products, it should determine where the ____________ point for the product or service is located on a perceptual map

ideal

What are the criteria used by marketers to evaluate whether a segment is worth pursuing or not?

identifiable, substantial, reachable, responsive, profitable

When a firm identifies its positioning within a global market, it must decide how to ________ its marketing strategies using marketing mix

implement

a trade deficit means that a country _________

imports more goods than it exports

Kelly goes to Macy's department store when they are having a fashion show of designer fashions. Seeing the _____ encourages her to buy a few garments she would not have considered buying when they were simply hanging on the rack

in-store demonstrations

global distribution networks from complex value chains that ultimately __________ the final selling price of a product

increase

Estee Lauder has a brand portfolio with more than 25 brands in over 150 companies. Having a variety of brands allows Estee Lauder to _________

increase the market for its products

perception as it influences consumer behavior _______

is developed through culture and family influences

An exchange rate quantifies how much a currency _________

is worth in relation to another

Post-purchae behavior is critical to marketing managers primarily because ____

it is the opportunity for marketers to measure and track satisfaction

In most country markets, the central government tends to be the _______ purchaser of goods and services

largest

after trying out several computers at a local store, Craig surprises himself by choosing a model of computer he previously didn't think he would like. this relatively permanent change in Craig's attitude, thoughts, perceptions, and behaviors about the brand is an example of what psychological influence on the consumer decision process?

learning

the component of segmentation that is determined by how we live our lives to achieve goals is called ________

lifestyle

marketing managers often appeal to consumers' ______ when developing the marketing mix to be sure if fits with how they spend their time and money

lifestyles

two brothers lead very different ______ and consequently buy different products. one brother lives in a metropolitan area, uses public transportation, and rents a car from Hertz on weekends if he wants to get away from the city. The other brother lives 50 miles from the nearest town and drives his Ford truck over 25,000 miles annually

lifestyles

goods and services that serve the same needs and wants on a global scale often require __________

little or no adaption in form or message

Acme. Corp. has altered widely used advertisement for its canned products in consideration of a certain country's cultural differences. This is an example of __________ a communication strategy

localizing

Hallmark sells Valentine's Day cards with romantic quotes, which are appealing to _______ needs

love

sometimes older people join Facebook as a way to jeep in touch with younger family members. What type of needs (from Maslow's hierarchy) motivates their decision to join Facebook?

love

Gerry has already bought a hybrid car for his wife and is going back to the same dealer for a second hybrid car. He spends far less time reviewing the ads and has developed several heuristics for purchase from the process he went through the first time. With this purchase, he is considered a(n) ________-involvement consumer for the hybrid car.

low

which of the following is NOT a market segmentation approach?

political

A dramatic economic downturn caused by __________ can increase a foreign entrant's risk considerably

political instability

a web ________ is an Internet site who purpose is to be a stating point for users when they go online

portal

Which aspect of the STP process involves adjusting the market mix to give consumers a clear picture of what a product does in comparison to competing products?

positioning

the key point in the consumer decision process at which marketers can solidify consumer loyalty is during the final step, the ______ stage. (Remember to type only one word in the blank)

post purchase

Jake is feeling uncomfortable with the contract he signed to buy a car because he bought a racy sports car but is having a second child in a few weeks. This discomfort he is experiencing between what he knows he should buy and what he has purchased is best known as _________

post purchase cognitive dissonance

Sometimes, firms find it difficult to use demographics in their segmentation strategies. This is because in some cases demographics ________

predict consumer wants and needs poorly

Value is popular positioning method and is the most important consideration for consumers when they make a purchase decision based on _________

price and quality

the components of a country market assessment include all of the following EXCEPT ____________

pricing and product decisions

The fourth stage of the B2B buying process has a number of mini-steps within itself. which of the following is NOT one of the steps within the fourth stage?

product specification

in the B2B buying process, a firm will always recognize a need before engaging in the second phase of the process, the ______ stage of the process

product specification

when preparing a proposal to meet a potential clients needs, vendors often review the company's ________ to get a better sense of what the company is looking for

product specifications

Daniel joined an outdoor activities club. He has begun to purchase many books about kayaking and rafting. Borders bookstore sends him email promotions focusing on outdoor activities. This is an example of __________ segmentation based on lifestyle

psychographic

Despite different ages and economic stats, consumers may perceive themselves to belong to a distinct group of people. to identify this segment, the marketing manager might use _________

psychographics

Mary buys a new bathing suit, and her friends teak her it looks great. She feels it is too revealing, and she is very self-conscious of her body. Mary never wears the $78 bathing suit because she is experiencing _______ risk

psychological

one evening during their vacation, Jo Ann and her family went for a walk on the boardwalk in an ocean resort town, They had so much fun that on the way back they bought a ridiculously expensive souvenir, a music box embellished with seashells, which would play a song called, "Sounds of the Sea." This is an example of which category of needs?

psychological

the motive that drives John to buy a large bottle of Gatorade after a 3-mile run and drink it quickly is a(n) _______ need.

psychological

which host of influences are internal to the consumer, generated from within his identity and experience?

psychological

of the influence on the consumer's behavior when buying a car, select all the internal factors which apply to a buyer

psychological factors: how sport he or she perceives the car to be

in a special situation where the consumer is purchasing a gift or a product to be shared with others, a situational factor is altering the outcome. this is a ________ situation that may change the buyer's normal consumption pattern

purchase

which product or service would require the least amount of search time and effort on part of the consumer?

purchasing a new brand of perfume

Countries with the highest _______ today may lose appeal in the future for many products and services because of stagnated growth

purchasing power

The Big Mac Index, which uses exchange rates to compare the cost of a Big Mac hamburger in U.S. dollars in countries around the world, is a method of evaluation which economic metric?

purchasing power parity (PPP)

determinant attributes that are ____ are features such as price, functionality, and ease of use. Determinant attributes that are _____ are features such as color, style, symbol, or logo

rational; psychological

Persuasive communications and accurate product distribution are techniques used by firms to _____________ market segments

reach

A firm's decision to being global expansion often begins when the firm __________

receives an order for a product or service from another country

need _____ is the first stage in the consumer decision process

recognition

all of the following are potential negative aspects of tariffs and quotas EXCEPT ________

reduction of foreign competition within the country

Cynthia often considers how the various ______ groups (family, friends. coworkers, or famous people) influence her values, beliefs, attitudes, and behaviors, particularly when she is making a purchase

reference

Virginia's bridge club compliments her profusely for the candies she bought and served when they played cards at her house, Her fridge club serves as a _______ group to reward her

reference

tom's volleyball team has a lot of influence on his buying behavior for many products. in terms of marketing, the team serves specifically as a ______ group to Tom, offering information about brands and contributing to Tom's self-image

reference

in the third stage of the B2b process, the firm will invite alternative suppliers to bid on supplying the firm's required components. This stage is know as the _______ for _________

request; proposals

_________ are the category of marketing intermediaries that move the product further downstream in the channel without significantly altering the form. (use professional definition for term)

resellers

marketing intermediaries that buy manufactured products and then sell them to someone else without significantly altering their form are called _________

resellers

Customers in the segment must react similarly and positively to the firm's offering. this quality is know as _________, which is an important element of successful segmentation

responsiveness

all of the brands that Mary can easily call to mind for laundry detergents, whether she would consider buying them or not, comprise her _______ set

retrieval

____________ refers to a situation in which a company first develops a product for an underdeveloped market and then expands to its home market

reverse innovation

the length and intensity of the information search are based on the degree of perceived _____ associated with purchasing the product of service

risk

Direct investment is the _________ type of global entry strategy

riskiest

Betty buys antibacterial hand soap for her kitchen and bathrooms to ensure her hands are clean. She is motivated by her ______ need

safety

often it is the _____ in the store who have a strong effect to improve the probability of completing the same by communicating important information directly to the buyer. This is particularly applicable with complex decision-making products, such as a car, a computer, or a freezer-items that buyers do not frequently purchase

salespeople

One positioning strategy focuses on the product attributes that are the most ________ to the target market

salient

One positioning strategy focuses on the product attributes that are the most ___________ to the target market

salient

The __________ attribute positioning method focuses on the most important product attributes for a target market

salient

Which positioning method gives primary consideration to the most important attributes of a product for its target market?

salient attributes

the ________ strategy must be consistent with and derived from the firm's mission and objectives, as well as its current situation- its strengths, weaknesses, opportune, and threats (SWOT)

segmentation

after evaluation each market segment's attractiveness, the next step in the STP process is ________

selecting a target market

which of Maslow's needs is the highest-order need, the one that can be satisfied only after all other needs are met?

self-actualization

McDonald's often targets families by showing families having good time in its advertising. This appeals to a family's ______________

self-concept

____________ is the image people ideally have of themselves

self-concept

John is a supported of environment issues. He is constantly examining the "green" credentials of the products he purchases. John's purchasing behavior is a reflection of his ___________

self-values

Exporting happens when a firm produces a product in its home plants then _________

sells it in a foreign country

Depending on the country, joint ventures sometimes require _______ when entering a foreign market

shared ownership

the marketing manager for Bloomingdale's knows that _______ situational influences, such as in-store displays are special promotions, as well as clean, ambient atmospherics, can increase the probability of sales while buyers are in the store

shopping

Individuals in different segments should have obvious _________ within the segment and greater ____________ across the segments

similarities; differences

Janet is very loyal to Jif peanut butter, but ___ factors such as a difference in time, availability, condition of the buying location, and inventory shortages may cause her to buy a competing brand

situational

If a market is too _________ and its buying power ________, it won't generate sufficient profits or be able to support the marketing mix activities

small; insignificant