MKTG 311 Possible Midterm Questions

A popular football player at a college who is able to influence the buying decisions of fans would best be described as a(n) __________.

opinion leader influence

In SWOT​ analysis, the favorable factors or trends in the external environment that the company may be able to exploit to its advantage are referred to as​ __________.

opportunities

The major activity in strategic planning is the analysis of a business​ __________.

portfolio

Henry Ford's philosophy was to perfect the Model T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept

production

​__________ refers to activities that communicate the merits of the product and persuade target customers to buy it.

promotion

​__________ segmentation divides buyers into different segments based on lifestyle or personality characteristics.

psychographic

Marketers who use ________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals.

psychographic segmentation

What are three channels of distribution in PepsiAmericas?

1) Large format channel: grocery store 2) Small format channel: Walgreens, small places 3) On-premise channel: Schools, vending machines

The Apple Watch Series 5 was developed with an awareness of current trends in the large societal forces known as _________________.

the macroenvironment

The winning value proposition by discount stores such as Walmart and PetSmart can be categorized as​ __________.

the same for less

In the product adoption​ process, __________.

there are five stages

Many companies view the marketing environment as​ a(n) __________ element to which they must react and adapt.

uncontrollable

Using​ a(n) __________ marketing​ strategy, a firm might decide to ignore market segment differences.

undifferentiated

Zappos creates _____ for its customers by offering a wide selection, higher levels of service, and customer-friendly return policies.

value

What type of distribution channel is used in PepsiAmerica

vertical marketing channel

The Atlanta Hawks recently renovated their home arena with Millennials as the target customer group. This is based on ______________ segmentation.

demographic

What is the most popular for marketers to use in segmenting customer groups?

demographic

The​ __________ environment consists of economic factors that affect consumer purchasing power and spending patterns.

economic

Compared to the mainstream buying​ public, Hispanic consumers tend to be deeply​ __________ oriented, making this a special characteristic and behavior.

family

PepsiAmericas: What strategies does Pepsi apply?

push and pull

The microenvironment consists of​ __________.

A. companies B. publics C. competitors D. suppliers

Consumer purchases are influenced strongly by certain characteristics which include​ __________.

A. cultural B. social D. psychological E. personal

​__________ behavior occurs when consumers are highly involved with an​ expensive, infrequent, or risky purchase but see little difference among brands.

Dissonance-reducing buying

Which of the following is the technological trend most likely considered in the development of the new Apple Watch?

Increasingly efficient apps, features, and components that consume less energy stored in batteries.

A​ company's mission statement should be focused on​ __________.

customers

IMG World's products and services are geared toward colleges and students, the students of which may be considered young achievers. This designation can be best described as which influential factor of consumer buying behavior?

age and life stages

​__________ segmentation divides buyers into segments based on their​ knowledge, attitudes,​ uses, or responses to a product.

behavioral

According to the​ stimulus-response model of buyer​ behavior, marketing and other stimuli enter the​ consumer's __________ and produce certain responses.

blackbox

Amazon and GEICO set themselves apart with their​ smooth-functioning direct delivery strategy referred to as​ __________ differentiation.

channel

Instead of going after a small share of a large​ market, a firm goes after a large share of a smaller niche segment. This type of marketing strategy is known as​ __________.

concentrated marketing

Which product type does Pepsi cola belongs to?

convenient product

It can be supposed that an increase in the importance of fitness and wellness in people's lives prompted Apple to include features like the built-in compass and always-on workout apps. That increased importance in fitness is part of the __________________ societal force.

cultural

The​ __________ environment consists of institutions and other forces that affect a​ society's basic values.

cultural

Within the​ growth-share matrix,​ "cash cows" are​ __________.

low growth, high market share

Sam has been directed to study the demographic, economic, political, and cultural forces that affect an organization. In this instance, Sam has been directed to study the ________ of the organization.

macroenvironment

The Apple Watch's "always on" display is made possible through advancements that produced Apple's low-temperature polysilicon and oxide display (LTPO). This particular development occurred in the ______________ force of the macroenvironment.

technological

The​ __________ environment is the most dramatic force shaping the destiny of the markets and marketing.

technological

A well-known cosmetic company in New York City added new product lines in order to increase its business. In other words, it ________.

widened its product mix

When does the habitual buying behavior​ occur?

Under conditions of​ low-consumer involvement and little significant brand difference

The most basic determinant of a person's wants, and behavior are embedded in consumers __________.

culture

While​ Zappos' pricing snafu cost the company nearly​ $1.6 million​ dollars, the company chose to fulfill all the orders because it realized the​ long-term loss of patronage from these customers could be even more expensive. A key metric that measures the​ long-term profitability of individual customers or groups of customers is known as​ __________.

customer lifetime value

Although Zappos was not legally bound to fulfill customer orders following its pricing​ snafu, failure to do so would have significantly lowered​ __________, which is based on a​ company's performance relative to the​ customers' expectations

customer satisfication

The first step in strategic planning involves​ __________.

defining the company's mission

Having an arena with bandwidth that is stronger than the average event venue is one way that the Atlanta Hawks have ______________________ their market offering.

differentiated

While Millennials are the primary target customer of the Atlanta Hawks, it is clear that the efforts of the organization to facilitate social media activity also appeals to other customer segments including Gen X and Baby Boomers. Thus, it is clear that the Hawks are employing a(n) __________________ targeting strategy.

differentiated

GamaPix makes point-and-shoot cameras and handycams for amateur photographers and hobbyists. It also has a separate line of cameras dedicated to professional photographers. Additionally, it designs separate offers for each segment. Which of the following marketing strategies does GamaPix most likely use in this instance?

differentiated marketing

Which of the following is the best example of Apple appealing to a trend in the demographic environment?

fall detection and emergency SOS for the aging Baby Boomer population

Students purchasing items with the college logo most likely represent consumers involved in which type of buying behavior?

habitual

IMG World provides college students with new, relevant media, making which stage of the consumer buyer behavior process easier for the consumer?

information search

The first group marketers try to bring their new products to the attention to are potential​ __________.

innovators

According to the distribution intensity model, what is PepsiAmerica's distribution intensity

intensive distribution

Each department can be thought of as a link in the​ company's __________.

internal value chain

​__________ involves evaluating each market segments attractiveness and selecting one or more segments to enter.

market targeting

​__________ plays a key role in the​ company's strategic planning.

marketing

Lark Inc., an American electronics company, is currently reviewing new geographical markets to sell its highly popular televisions. By 2020, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ___________ strategy.

marketing development

Jonathan works for a firm that assists companies in promoting, distributing, and selling their products to end consumers. The firm Jonathan works for is a ________.

marketing intermediary

The​ "echo boomers" is another name for​ __________.

millennials

ABC Inc. operates in many industries, including pharmaceuticals and food products. The company's goal is to create "abundant and affordable food for all and a healthy environment." This represents ABC's ________

mission

Shortages of certain raw materials is a major trend related to the​ __________ environment.

natural

Consumer​ motivation, perception, and learning are related to the​ __________ factors influencing consumer behavior.

psychological

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. According to the BCG matrix, the pharmaceuticals division of Omni can be classified as a ________________

question mark

​__________ are distribution channel firms that help the company find customers or make sales for them.

resellers

The step in designing a customer value-driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market​ __________.

segmentation

Erica wants to replace her old washing machine with a new one. In order to get the maximum value for her money, she plans to spend substantial time and effort in gathering information and making product comparisons before making the actual purchase. In this instance, Erica is planning to buy a(n) ________ product.

shopping

Market​ __________ evaluates each market​ segment's attractiveness and selects one or more segments to serve.

targeting