MKTG 2201 quiz 1
marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on
consumers' exsisting wants
________ is the act of obtaining a desired object from someone by offering something in return
exchange
Walt disney resort group doesn't just offer amusement rides, it uses its fames Disney magic to create carefully orchestrated
experiences
which of the following is a social factor that influences consumer buying behavior
family
which of the following is the least effective way to keep customers from switching to a competitor?
give out free samples of your product.
compared with undifferentiated marketing, differentiated marketing is more likely to lead to _______
higher costs of doing business
when a point of different can easily be copied by competitors, it is
reemptive
which of the following is most likely a financial public
stockholder
which of the following best describes a company's business portfolio
the collection of businesses and products that make up the company
which of the following demonstrates the real value of a company's marketing research and information system?
the customer insights it provides
which of the following is an approach where firms target a whole market based on common consumer needs?
undifferentiated marketing
a brand's ______ is the set of benefits that it promises to deliver to consumers to satisfy their needs
value proposition
which of the following is likely to be a reason why a company wants consumers to search more?
-when the company charges a higher price than the competitors -when the company's product has the same quality as the competitors
when an effective program can be designed for attracting and serving a chosen segment, the segment is best described as _________
actionable
_______ are defined as statuses of felt deprivation a) demands b) needs c) values d) ideas e) exchanges
b) needs
The ABC company manufactures microprocessors and caters exclusively to private manufacturers that produce high-end computers. which type of market does ABC target?
business market
which of the following is not considered a source of competitive marketing intelligence?
competitor's internal databases
the ______ effect is the tendency for consumers to prefer middle options
compromise
which of the following doubles the 3 C's of choosing a marketing position?
customer, competition, company
according to the text, ______ are the most important actors in a company's microenvironment
customers
the marketing manager of Appeal has noticed a sharp drop in sales over the last two months, The manager tries to conduct marketing research to identify potential causes for the drop sales. which should he do first?
define the problem and the objectives
Pediatrician pet supplies, a pet food company, divides the pet market according to the pet owner's gender, income, and family life-cycle. In this case, which of the following variables has the company used for market segregation
demographic
if men and women respond dissimilarly to the marketing efforts for a root-beer flavored malt beverage, they are considered __________ marketing segments
differentiable
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 if she can find a coat in her budget. In this case, Becca is most likely in the _______ stage of the buyer decision process
information search
Susan Hart, the manager of a children's boutique, collects data from her monthly records of sales, costs, and cash flow. in this case, susan is making use of _________ databases
internal
volunteers belong to a company's ________ publics
internal
which of the following is a personal factor that influences a consumer's buying behavior
life-cycle stage
___________ marketing tailors brand and promotions to the needs and wants of specific cities, neighborhoods, and even stores
local
unlike other car rental agencies, that are based in airports to serve travelers, rental wheelz has a network of neighborhood offices, The firm strives to serve people who need car rentals for other reasons than vacation, such as when their own cars are being repaired. Rental Wheelz caters to a small share of the large car rental market. from this description, it can be concluded that rental wheelz most likely practices
local marketing
the ____ concept that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do
marketing
_______ is the systematic design, collection analysis, and reporting of data relevant to a specific marketing situation facing an organization
marketing research
which of the following is a quantitatinve approach to research?
marketing surveys
a _____ is purposeful, specifying what an organization whats to accomplish in the larger environment
mission statement
which of the following is the fist stage of the buyer decision process
need recognition
______ refers to how the product compares to other products on the market
positioning