MKTG FINALE

Research has shown that the influence of family on the consumer buying process is very strong. This is because many of the consumption patterns we have for products are formed by the time we are ____ years old?

16

Why is an understanding of attitudes important to understanding consumer brands?

A brand is essentially an attitude about a product

What is the difference between a business customer and an individual consumer.

A business buys products in order to make money while an individual buys products for personal enjoyment.

Which of the following statements best describes the consumer buying process discussed in class?

A consumer trying to satisfy a need through a purchase is actually solving a personal problem.

Which of the following is a condition necessary for exchange to occur?

A means of communication.

Which of the following people would most likely be a potential customer for a Ferrari luxury car?

A millionaire who already owns a Ferrari.

What is the difference between a need and a want as described in class?

A need is a perceived lack of something, a want is a culturally defined way to satisfy the need

Which of the following situations describes a business customer?

A not-for-profit organization that buys copier paper in order to make flyers announcing a charity fundraising event.

Which of the following situations describes a business customer?

A person who buys yarn in order to knit baby clothes for sale on her "darned babies" website.

When we speak of a consumer, we are speaking of...?

A person who purchases things for personal consumption.

What is an attribute?

A quality or characteristic inherent in or ascribed to someone or something.

________________ is the basic unit of exchange?

A transaction

A person's food preferences, rituals, and even a sense of what is right and what is wrong can be strongly influenced by his/her ___________?

Culture

Which of the following is NOT information that is available categorized by NAICS codes?

Current price data

Which of the following statements about value is FALSE?

Customers who fail to perceive the benefit a manufacturer designed into a product may have an incorrect perception of its value to them.

Desiree knows that she does not have very much money. Yet she dreams of being rich and famous like one of those Hollywood stars you see on television all the time. Her one luxury is to buy fashionable designer dresses just like those worn on her favorite television shows. In order to survive, she eats day old bread and lots of rice because it is very inexpensive. Desiree's desire to save money on food which she eats alone is motivated by her ____________?

Actual self-concept.

What is the NAICS?

All of these, a system that classifies businesses according to their primary line of business. A system for classifying businesses in the United States, Canada and Mexico. The North American Industry Classification System. A replacement for the old Standard Industrial Classification (SIC) code.

Which of the following statements about motivation is FALSE?

All of these, people are not always aware of their true motivation, psychological needs are a basic source of motivation, physiological needs are a basic source of motivation e. All needs are equally motivating Correct

The second stage of the consumer buying process is?

All of these, the information search, affected by the cost of acquiring new information, the creation of the 'awareness set,' where the consumer tries to identify different ways to satisfy the need.

Which of the following groups would normally be considered to be a stakeholder of a company?

All, the local community, company's suppliers, company's labor unions, company's stock holders

What do we mean when speak of an organization's stakeholders?

Any individual or organization that need to benefit from a company's marketing activity.

Which of the following statements about attitudes is FALSE?

Attitudes become more favorable over time

Which of the following statements comparing the consumer buying process to the business buying process is TRUE?

Both businesses and consumers solve problems using a five-step process.

______________________ is the marketing of goods and services to companies, governments, or not-for-profit organizations purposes other than personal consumption?

Business marketing

Of the three ways to satisfy a need, which one is used to create exchanges?

Buy it

Which of the following statements about a consumer is FALSE?

Consumers have similar tastes

Erik is going to buy a pair of running shoes. Which of the following factors would lead you to believe that buying running shoes is a HIGH involvement decision for Erik?

Erik really isn't into running but a friend told him that he needed to have the right kind of footwear or he would be perceived as a loser by his friends

One of the ways that attitudes about a product change over time is through ________________ or experiences with the product after it has been purchased.

Experiential learning

Rafael is applying to graduate schools for admission to the MBA program. If he goes part time, it will take four years and cost several thousand dollars. Rafael believes that he needs the advanced degree to get a promotion at his job. Rafael is likely to engage in _________ problem solving as he makes this decision?

Extensive

Buyer's remorse affects business customers as well as consumers

False

Human beings always choose the best available product when making a purchase.

False

People put a lot of effort into routine purchases, even though they would rather not.

False

When making purchases, it really doesn't matter how you feel emotionally.

False

Bruce is trying to contact the purchasing agent for Starbucks Coffee in order to sell them his new "Bruce's Blend" of coffee. However, each time he calls the buyer, he gets a receptionist who asks him his name and then forwards his call to the buyer's voice mail. This has happened several times now and Bruce is beginning to think that the buyer will never call back. The buyer's receptionist performing the role of _________?

Gatekeeper

Perception deals with...?

How we interpret the world around us

Desiree knows that she does not have very much money. Yet she dreams of being rich and famous like one of those Hollywood stars you see on television all the time. Her one luxury is to buy fashionable designer dresses just like those worn on her favorite television shows. Desiree's desire to be seen as a high-fashion person is motivated by her ____________?

Ideal self-concept

Grocery stores frequently put new products in high visibility locations such as the end of an aisle or near the checkout lanes. This makes consumers who might be thinking about buying a similar product aware of the new product. This tactic affects consumers who are in the _________ stage of the consumer buying process?

Identify alternatives.

Which of the following is NOT a concern during the decision stage of the consumer buying process?

Identifying all of the alternative products available.

Bruce is trying to sell his new "Bruce's Blend" of coffee to Starbucks. He met with the buyer and the buyer arranged for Bruce to serve a sample of his new blend to a group of 'tasters' who will taste the coffee and tell the buyer whether or not they think it is any good. These tasters are performing the role of ___________?

Influencer

Which of these is NOT a key to success for a company adopting a market orientation?

Insuring every customer transaction is profitable for both the customer and for the company.

Jill has been sitting through Professor Robertson's class for almost an hour now. She didn't have time for breakfast because... well just because. It is now almost eleven o'clock and she realizes that she is very hungry. This is an example of _________ need recognition?

Internal

Annabelle is in a hurry. She is on her way home from school and has to prepare for a job interview the next day. In addition, she has a term paper due in her "Philosophy of Pure Reasoning" class that is due the next day. When she is almost home, her roommate calls her on her cell phone and asks her to pick up some laundry detergent - it doesn't matter what kind - on her way home. Based on what you learned about the consumer buying process, which strategy is Annabelle likely to use in identifying alternative laundry detergents?

Internal or memory based strategies because it is the least effortful approach.

_________ affects the amount of time and effort a buyer invests in the consumer buying process.

Involvement

What is the difference between a relationship and an exchange?

It may be good business to lose money on a transaction in a relationship, it is rarely good business to lose money on a transaction in an exchange.

Which of the following typically a responsibility of the marketing function in an organization?

Listen to the market.

By definition, _____________ is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large?

Marketing

What is the difference between a business customer and an individual consumer.

Mass marketing techniques are usually less cost effective in business marketing than in consumer marketing because there are fewer business customers than individual consumers.

Younjin is a purchasing agent for Acme Enterprises. One of the products she is responsible for is copier paper for the company's copiers. The company makes lots and lots of copies so they use more than 60 cases of copier paper each week. Recently, one of her colleagues, Bruce has been complaining that the copiers are jamming a lot. She thinks it might be because the paper is the wrong kind for the company's copiers. Also, the chairman of the board made a speech to all of the employees stating that the company is going to become environmentally sensitive and there will be bonuses for people who can improve the company's environmental record. Younjin had heard that some recycled paper is as good or better than standard copier paper. She decides to re-think where she is buying her copier paper. Younjin will probably treat copier paper as a __________ decision?

Modified rebuy

Perla is trying to decide which of two big screen television sets she should purchase. One is more expensive than the other, but it has better resolution. Sound quality is the same on both television sets. They both come with remote controls, but Perla rarely uses a remote control so it is not a factor in her decision. Perla is using __________ to make the decision?

Multiple Criteria

Sergio is the head designer for 'Robertson House' a high-fashion clothing company. Each year, Sergio completely changes the colors of the clothes he designs so that it will be obvious to anyone who has fashion sense that last years colors are out of date. This "planned obsolescence" tends to affect consumers at the _________ stage of the consumer buying process.

Need Recognition

Grocery stores frequently put items such as candy bars or chewing gum next to the check-out lines. The reason is that simply seeing the candy display may make a consumer hungry for a candy bar. This tactic tends to affect consumers at the ________ stage of the consumer buying process.

Need recognition

Younjin is a purchasing agent for Acme Enterprises. She is responsible for the company's copiers. The company makes lots and lots of copies so they spend more than $10 million on copies each year. Younjin is considering replacing all of the company's copiers with a networked solution that digitizes all documents and prints them on demand at designated workstations. This system will have to be custom designed for the company and will cost several million dollars. Younjin will probably treat this as a __________ decision?

New task buy

Bruce has always wanted to own a Ferrari automobile. For him it will always be a dream because he will never be able to afford to buy one unless gets a better job and saves his money for several years. Is Bruce part of the potential market for Ferrari automobiles?

No because he does not have the money to buy a Ferrari.

The reason people experience buyers remorse after making a major purchase is because?

Once you have made a choice between two attractive alternatives, you experience a sense of loss over the alternative that you didn't choose.

Which of the following statements about the result of cognitive miserliness is TRUE?

People will choose the first acceptable solution to a problem rather than choosing the best solution to a problem.

Which of the following is NOT a social influence on the consumer buying process?

Personality

The two basic sources of motivation discussed in class are?

Physiological, Psychological

_________ utility exists when a product is readily accessible where potential customers need it

Place

_________ utility relates to the satisfaction proud owners get from the products they own.

Posession

A _______________ is an actual or imaginary group that has a significant impact on a person's evaluations, aspirations or behavior?

Reference group

What is the difference between a relationship and an exchange?

Relationship marketing takes a longer-term perspective than exchange marketing.

_____________ include retail and wholesale businesses.

Resellers

Sameer does not smoke. Every day he walks past a billboard advertising Camel cigarettes. In class, the instructor was talking about how much cigarette advertising is around us and described the billboard advertising Camel cigarettes as an example. Sameer was surprised by this. He had walked by the billboard every day, yet he had never noticed that it was an advertisement for cigarettes. This is an example of _____________?

Selective attention

Bruce is a fan of the Minnesota Vikings Football team. He was watching a game between the Minnesota Vikings and the San Francisco Fortyniners on San Francisco television station. He expected that the announcers would favor the local team and it appeared that he was right. Even though a national media agency gave the local announcers an award for the most unbiased coverage ever in a televised football game, Bruce remained convinced that the announcers had favored the local team. This is an example of ______________?

Selective interpretation

Confirmation bias recognizes that people will be more likely to believe someone who agrees with what they already think than someone who disagrees with what they think. This is the result of:

Selective interpretation

________________ consists of the relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests and behavior can be grouped.

Social Class

What did your instructor mean when he mentioned the concept of cognitive miserliness?

That people do as little 'thinking' as possible when making a decision.

Which of the following statements about value is TRUE?

The benefit that an individual consumer receives from a product is in the mind of the consumer.

Which of the following statements about the consumer buying process is TRUE?

The customer decides whether he/she is truly satisfied with the product after the decision has been made.

Which of the following statements about professional buyers is FALSE?

The goal of the professional buyer is get the lowest purchase price.

Which of the following buying criteria is a business buyer likely to use and an individual consumer NOT likely to use?

The impact on the channel of distribution

The four 'P's are?

The marketing mix variables we use to create need-satisfying offerings.

What do we mean when we say a customer has the resources to buy a product?

The person has the time, money and authority to make the purchase?

What do marketers mean when they speak of a "consideration set" ?

The subset of the alternatives identified during the search phase that the consumer evaluates before making a decision.

Which of the following is a condition necessary for an exchange to occur?

There must be at least two parties involved.

Subcultures can be powerful segmentation variables because people have more choice about the subcultures they choose to identify with. This means?

They are more likely to seek out products that affirm their membership in the subculture

Reference groups are important to Marketers because...

They serve as information sources and influence opinions

One of the ways business buyers can be proactive in identifying alternatives is...?

To put out a RFP (request for proposals) inviting suppliers to design an offering specific to the firm's needs.

One of the ways our perceptions are biased is that we don't see things that are really there.

True

The fact that people feel short of time limits the effort they put into making purchases.

True

The purpose of the purchase determines the amount of effort a person will put into the decision.

True

Bruce is very frustrated. He trying to make copies of a handout for his 9:30 principles of marketing class and the copier is jammed. The copier is always jammed. He has complained to the purchasing agent several times, asking them to get a copier that works. Bruce is performing the buying center role of _________?

User

_________ is the usefulness or the benefit that a customer receives when he or she uses your product.

Utility

__________ is a function of benefits received and their cost

Value

Which of the following is a condition necessary for exchange to occur

Voluntary participation.

Which of the following is a condition necessary for exchange to occur?

Voluntary participation.

The first stage of the consumer buying process is:

Where a consumer realizes that there is something he or she lacks.

People have two decisions to make when they use products to solve a problem. One of them is?

Whether or not to make a purchase?

Which of the following is NOT a factor a business customer is likely to consider when making the decision to purchase an industrial product?

Will the product clash with his/her home decor

A feature is...?

an attribute of a product or offering

The second stage of the consumer buying process is?

identifying potential solutions to the problem.

A benefit is...?

the usefulness a customer receives from using your product

Sandra is running an online bookstore. Her market research shows her that many people visit the site, look at several books, add one or more books to the shopping cart but never actually purchase anything. Based on what she learned about the consumer buying process, Sandra decided to offer free delivery. She felt that this would make it easier for the customer in the ___________ stage of the consumer buying process.

Decision stage

Many complicated products such as computers or automobiles are assembled using many component parts. Once a sales forecast for the main product has been established, it is relatively easy to estimate sales of the component products because of the ____________ characteristic of business markets?

Derived demand

Which of the following statements about the consumer buying process is FALSE?

Different people will go through the stages of the consumer buying process in a different order.

Zach hates the sport of soccer. He especially dislikes the Brazilian national team. He makes it a point never to wear anything that looks like soccer clothing, especially if it is in the colors of the Brazilian team. For Zach, the Brazilian soccer team is a(n) ____________?

Dissociative group