MKT midterm

People use the same products and services as they progress through each life-cycle stage. T or F

False

Products include only tangible objects. T or F

False

Specialty products are primarily purchased for use in conducting a business. T or F

False

________________ are presented so quickly or vaguely that they are very hard to consciously perceive, even if you try hard.

Subliminal Stimuli

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies. T or F

True

Social class is not determined by a single factor, such as income, but is measured as a combination of occupation, income, education, wealth, and other variables. T or F

True

Sometimes consumers are not aware they have a need for a certain product or service. T or F

True

Although not recommended, some marketers decide to ignore market segmentation and target the whole market with one offer. This is known as ________ marketing.

Undifferentiated

Consumer products that the buyer either does not know about or knows about but does not normally consider buying are referred to as ________ products.

Unsought

A soft drink brand is using pictures of happy people drinking its product. By repeating these ads, the marketers of the soft drink brand are hoping to associate their brand name with happiness in their consumers' mind. This is an example of _____________________.

Classical Conditioning

________________ refers to the buying behavior of final consumers, i.e the individuals or households that buy goods and services for their personal use or consumption.

Consumer Behavior

________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert social influence on others.

Opinion Leaders

Companies are likely to gain ________ through speedy, convenient, or careful delivery of products.

Services Differentiation

Hallmark's classic "When you care enough to send the very best" slogan appeals to which need category in Maslow's hierarchy?

Social

BerryBerry is a fruit juice company that has traditionally sold three varieties of mixed-fruit juices: DazzleBerry, AquaBerry, and GloBerry. The company wants to add more products to its product line. Which of the following is an example of brand extension for BerryBerry?

The company introduces BerryBliss, a dried berry snack mix for kids.

Silkskin Cosmetics is advertising its newest line of eye makeup. Made from all-natural ingredients, the products are hypoallergenic. Silkskin is selling the products in specially designed tubes that make application easier. Which of the following is a core customer value for Silkskin's line of eye makeup?

The desire for having beautiful eyes

Which of the following is a desirable quality for a brand name?

The name should translate easily into foreign languages

Susan has been redecorating her new condo for a year. She is carefully selecting every item. Susan finds an oriental rug that matches her color scheme and décor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of a(n) ________.

specialty product

A market segment is less attractive when ________.

it contains powerful suppliers who can control prices

Argonaut Food Stores, a retail giant, hires better-skilled employees than its competitors by employing strategic recruitment practices. It also conducts highly specialized training programs for its employees. In this case, Argonaut has focused on gaining a strong competitive advantage through ________ differentiation.

people

____________ refers to an individual's tendency to be resistant to change and new ideas.

Dogmatism

Companies today are moving away from target marketing and toward mass marketing. T or F

False

Life insurance is an example of a convenience product. T or F

False

John decides to purchase a BMW to impress others with his success. This illustrates the importance of understanding the role of ________ in the marketing process.

Motive

________ involves enlisting or even creating opinion leaders to serve as brand ambassadors who spread the word about a company's products.

Buzz Marketing

At the extreme, micromarketing becomes ________ insofar as products and marketing programs are tailored to the needs and preferences of customers.

Individual marketing

Becca wants to buy a new coat. She asks her friends to recommend a store and/or a style of coat. She looks for sale advertisements for coats in newspapers and also visits nearby stores to check what she can find in her budget. In this case, Becca is most likely in the ________ stage of the buyer decision process.

Information search

Which of the following statements is most likely true about unsought products?

Marketers use aggressive advertising to convince consumers to buy unsought products.

________ is the process of developing an interpretation of a stimulus.

Perception

Julia has a loyalty card from the local coffee shop in her neighborhood. With every purchase she gets points, for which she can get free items later. Because she can accumulate points she shops at that coffee shop more often now. This is an example of _____________________ in operant conditioning.

Positive Reinforcement

Clorox sells five major product lines including cleaning, household, lifestyle, professional, and international. Together the product lines make up Clorox's ________.

Product Mix

Jeff is in the process of buying a new car. He carefully analyzes the features that he wants in a car, and perceives significant differences in price, quality, and features among three of his favorite models. He rates the models on each factor and ranks them in the order of his preference. To which of the following stages of the buyer decision process will Jeff most likely proceed next?

Purchase Decision

A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ________.

Reference group

Alice is shopping for a new car, and she has narrowed her decision to a Honda Accord and a Toyota Camry. Both sedans have similar features and prices, but Alice decides to purchase the Honda based on her intuition. Which of the following situations would most likely cause Alice to experience postpurchase dissonance?

The price of the Toyota Camry falls due to an increase in demand

Which of the following is true of perceptual positioning maps?

They are used to analyze consumer perceptions of a brand relative to competing products.

A company or brand image should convey a product's distinctive benefits and positioning. T or F

True

Culture is an important influence on consumer purchase behavior. T or F

True

Furniture is an example of a shopping product. T or F

True

Most major new innovations are unsought until consumers become aware of them through advertising. T or F

True

The larger the gap between expectations and performance of a product, the greater a consumer's dissatisfaction. T or F

True

Market segments that can be effectively reached and served are said to be ________.

accessible

A person's buying decisions are ________.

affected by subconscious, hidden motivations

Delta, an American video game manufacturer, targets teens between the ages of 13 and 18, providing free game trials and applications. The firm's marketing approach exemplifies ________ segmentation.

age and life-cycle

Which of the following is an example of a convenience product?

candy

________ products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.

convenience

Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged men, and the other line targets younger, up-and-coming professionals. Harry's most likely segments the consumer market based on ________ variables.

demographic

Danko International is a multinational company that targets the BRIC countries (Brazil, Russia, India, and China) because they're fast-growing developing economies and use ________ to segment its world markets.

economic factors

Gulf Coast, a wholesale shrimp distributor, groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Gulf Coast tailors a different set of advertisements and promotions. The supplier is segmenting its market according to ________.

geographic location

Compared with undifferentiated marketing, differentiated marketing is more likely to lead to ________.

higher costs of doing business

A doctor performing hip surgery on a patient illustrates how a service can be produced and consumed simultaneously. This is an example of which service characteristic?

inseparability

Which of the following is the right order of the steps that companies generally follow in designing a customer-driven marketing strategy?

market segmentation, market targeting, differentiation, and positioning

Sportware, a leading shoe manufacturer, markets sneakers under the brand name "Athletix" and dress shoes under the brand name "Cameo" in order to target the two different market segments. What branding strategy is most likely being used by Sportware?

mulitbrands

Gold Class Electricals, a consumer-electronics firm, targets market segments based on factors such as country, age, social class, usage rate, and benefits sought. The company divides its markets based on ________.

multiple segmentation bases

Xenon, a leading consumer-electronics manufacturing company, markets its products under the company's own brand name. In this case, Xenon has sponsored its products by promoting them as ________ brands.

national

Company and brand positioning should be summed up in a ________.

positioning statement

Bose promises "better sound through research." This is an example of ________.

product differentiation

Service variability means that ________.

service quality depends on when, where, and how they are provided

Major appliances, furniture, and clothing are typical examples of ________ products.

shopping

Which of the following is an example of a shopping product?

television

Markets can be segmented into groups of nonusers, ex-users, potential users, first-time users, and regular users of a product. This method of segmentation is called ________.

user status segmentation