MKTG exam1

Factors that determine the level of consumer involvement include

All of the above: Pervious experience, financial risk, social visibility

Which of the following statements about consumer involvement is true?

Consumer involvement referes to the depth of thinking and length of time consumers spend in researching and considering purchase alternatives for a single purchase.

How are consumers influenced by reference groups?

Consumers use the same criteria as their reference groups to make their own consumer decisions

Consumers can be influenced by reference groups only if they belong to those groups (t/f)

False

Individuals born between 1965 and 1978 form a group called:

Generation X

Which of the following statements about culture as an influence on consumer buying behavior is true?

It encompasses all the things that consumers do without conscious choice

Which of the following is true about the Great Recession?

It was the largest economic downturn since the Great Depression

Marketing satisfies consumers ______ and ______.

Needs and wants

Which of the following is true about the tweens in America?

They are making an effort to look more mature at a young age.

Organizations use product development strategies to serve customers in their existing markets (T/F)

True

The societal marketing orientation extends the marketing concept by acknowledging that some products that customers want may not really be in their best interests or the best interests of society as a whole (T/F)

True

Which of the following questions which companies considers best aligned with the production orientation philosophy?

What can our engineers design?

Which of the following questions considered by marketers is best aligned with distribution strategies?

Where do customers like to shop?

According to the AMA, the stakeholders involved in the marketing process include:

customers, clients, partners, and society at large

The first step in the marketing research process is to:

recognize a marketing problem or opportunity

The distribution strategy in the marketing mix is concerned with:

transporting raw materials or finished products

Component lifestyles decrease the complexity of customers buying habits (t/f)

true

Which of the following is an example of demographic information

An individual's age

The Boston Consulting group provides a method for companies to evaluate the strategic options based on two factors. These include:

Category Growth and Market Share

There are four type of marking research. These include:

Could I call my "life line"?

Which of the following strategies illustrates a market orientation?

Creating customer value

Component lifestyles are:

Creating demand for products that meet diverse needs

Internet surveys are labor-intensive in nature and incur training, telecommunications, and management costs (t/f)

False

Which of the following statements is true in the context of ethnic markets in the United States?

More than half of Hispanic Americans are of Mexican Descent

Which of the following statements is true of members of Generation X

They were hit hard by the Great Recession

Maslow's hierarchy of needs is a popular theory about the motives that drive people's particular needs at particular times (t/f)

True

Which of the following is a difference between a market-oriented firm and a sales-oriented firm?

Unlike a market-oriented firm, a sales-oriented firm targets its products at the average customer.

Social Media:

can help companies gain market share

A market-oriented firm:

defines its mission in terms of the benefits its customers seek

An example of demographic information would be:

A location in which an individual stays

The sales philosophy focuses on

An aggressive sales approach with a "push" approach to the firms products and services.

Which of the following statements is true about the trends prevalent among various ethnicities in the ethnic markets?

Asian Americans retain strong core values as they acclimate to the American culture

All but which of he following are included in all consumer decision making process?

Cognitive dissonance (Recognition of need, Searching for possible solutions, and purchase are part of consumer decision making process)

Which of the following statements is true about the niche strategy?

Companies that adopt a niche strategy have only a small number of customers

According to your textbook and our lecture, strategic planning is

Creating and maintaining a fit between the production capabilities of the firm and the changing needs of the firms customers.

Which of the following is NOT a strategic option included in the BCG matrix?

Crouching Tiger (as opposed to Question mark, cash cow, dog, rising star)

Which of the following is considered part of the external marketing environment?

Cultural Change

Companies that rely on the marketing concept and have implemented a marketing orientation strategy recognize that:

Customer wants can be satisfied by integrating activities of the firm.

In the context of the BCG Matrix, a company that finds some of products in the "dog" category should do what with regards to those products?

Divest those products since the category is declining and the company has a small share of the market

Marketing research is of little help to managers who want to understand detailed and complicated relationships (t/f)

False

Baby boomers:

Have many health care expenses

Which of the following questions considered by markets is closely associated with promotion?

How can we use social media to increase our products sales?

Which of the following statements is true of customer relationship management?

It involves establishing and tracking customer interactions with the company.

Which of these statements is true about customer relationship management?

It involves linking all processes of the company from its customers through its suppliers.

NutriPro has many business divisions. One of its business divisions has a large customer base for its breakfast cereal in Oriel. NutriPro's other business division sells cookies in Lancelot. NutriPro has now introduced its cookies in Oriel. TO ensure good sales, the company is also offering discounts. Which of the following strategies is illustrated in this scenario?

Market Penetration

The publisher of a business magazine wants to make several major changes in the magazine's content and format. Which of the following will enable the publisher to understand the changes that will most likely be welcomes by its readers?

Marketing Research

Jessica is 29 years old and spends more time on FaceBooke than reading magazines. Despite her inclination toward social media networking sites, she continues to listen to the radio or read magazines at times. Jessica is most likely to be a

Millenial

Thompson Crayons Ltd. is a manufacturer of crayons and colored pencils in Rhoda. The company has started packaging their products in vibrant colored boxes, as opposed to brown boxes used in the past, in order to increase their sales. In this scenario, Thompson Crayons Ltd. is using a ____ strategy.

Product differentiation

Customer ascension refers to which of the following marketing activities?

Product promotion

The different marketing philosophies discussed in chapter one included

Production, Sales, Marketing, and Societal philosophies

Social influences on consumer buying decisions are most likely to help in

Reducing a feeling of uncertainty among consumers.

Which of the following basic values strongly influences attitudes in the United States' first 200 years?

Self-sufficiency

Which of the following is most likely an example of routine response behavior?

The purchase of groceries

Which of the following is specified by the research design?

The research questions to be answered

Which of the following statements is true about strategic business units (SBUs)?

They do not plan collaboratively with other SBU's

Which of the following statements is true abut the current consumers in the United States?

They emphasize price more than product quality.

Which of the following is true of one-way frequency counts?

They simply record the responses to a question

What is a moderator's major role in online focus groups?

To type in questions online for all respondents to see

A market segment is a group of individuals or organizations who share one or more characteristics (T/F)

True

A production-oriented firm focuses on its internal capabilities (T/F)

True

An ideal marketing penetration strategy would be to offer cash backs and discounts on products to customers (T/F)

True

Imitating a rival's competitive advantage requires that the company must first identify the rival's competitive advantage (T/F).

True

Marketing managers need to understand the desires of consumers in order to create a proper marketing mix for a well-defined market (t/f)

True

Marketing objectives must be consistent with and indicate the priorities of the organization (T/F)

True

Which of the following strategies is most closely associated with a societal marketing orientation?

Using clean energy sources

An economic recession increases demand for products and services

false

If pay raises are matching the rate of inflation, then employees will be no worse off in terms of the immediate purchasing power of their salaries

true

Social Media is an effective tool used to increase brand awareness (t/f)

true

Technological advances can usher in a whole new set of competitors that can change a firm's burins model. (t/f)

true