Principles of Marketing Ch. 6-10 Test Study Guide
____ buy products from manufacturers and then resell the products to other firms in the distribution system.
Wholesalers
When the city of Portland buys iPads for its restaurant inspectors to use during their visits, the purchase from Apple would be considered
a government purchase
If Kyrgyzstan levied a duty on all goods purchased from the United States and other countries outside its borders that were brought into Kyrgyzstan, its businesses and citizens would be paying a(n)
import tariff
An accountant buys a supply of pencils to be used in calculating the taxes of other business firms. Based on this information, pencils in this case would be considered what type of product?
Business
Which of the following regulates and makes rules for privacy, fraud, and misappropriation of copyrighted intellectual property, as well as other illicit internet activities?
Federal Trade Commission
All of the following are marketer-dominated sources of information exceptAll of the following are marketer-dominated sources of information except
Friends
Which of the following is often used to raise revenue for a country and/or to protect domestic products?
Import tariff
During the evaluation of alternatives stage of the consumer buying decision process, framing most likely influences the decision process of ____ buyers.
Inexperienced
____ relates to perceptions of value and is the most flexible element of the marketing mix.
Pricing
As digital communication technologies have advanced, it is possible for marketers to
reach markets that were previously inaccessible.
What is a primary difference between business and consumer buyers?
Business buyers generally place larger orders than consumer buyers.
According to your text, ____ are small technology-based firms operating in international markets almost immediately after their establishment and realizing as much as 70% of their sales outside the domestic home market.
"born globals"
Which of the following countries has the highest GDP?
China
____ is a popular mobile photo-sharing site.
Which of the following agreements provides a forum for tariff negotiations, reducing trade restrictions, resolution of international trade problems, and ground rules for international trade?
The World Trade Organization
Which of the following is not a physical surroundings factor influencing buying decisions?
Time
Vail Mountain Resort in Vail, Colorado, is a world-class ski destination. Vanessa is a newly-hired manager of digital media and electronic marketing for Vail. Vanessa remembers reading about a new trend in video marketing, using _________ to engage and create a community of customers.
amateur filmmakers
The ability of a marketer to identify customers before they make a purchase is called
addressability
Phillip is on his way to work when he realizes he has a flat tire. He swings into Discount Tire and has a new tire installed. Phillip's purchase of a new tire in this situation is considered to be
an unsought good
According to the text, a product is defined as
anything the customer receives in an exchange
Home Depot has an iOS program that allows users to match colors in photographs with the store's selection of carpets. This is an example of a(n)
application (app).
The ____ is the difference in value between a nation's exports and its imports.
balance of trade
Crimson Hexagon is a marketing research company that markets primarily to consumer products organizations. Crimson Hexagon provides products that are most likely considered
business services.
After purchasing a new Infiniti, Phil sees a Lexus pass by on the street and begins to wonder if he made the right choice. Phil is experiencing
cognitive dissonance.
Although they become part of a larger product, ____ can often be easily identified and distinguished on the larger product.
component parts
When shopping for detergent, Dylan looks at Arm & Hammer, Gain, Method, and Cheer and chooses the one that is on sale. These four brands make up his ____ set. Group of answer choices
consideration
Minerals, chemicals, timber, and agricultural products are considered
raw materials.
When influencers fail to disclose a connection to a brand they promote, they may be charged with
deceptive advertising.
Coca-Cola offers a line of soft drinks that includes Coca-Cola, Diet Coke, Coca-Cola Zero, Sprite, and Fanta. These drinks best illustrate Coca-Cola's product mix
depth.
The fact that business customers purchase products to be used directly or indirectly in the production of consumer goods and services means that demand for business products is
derived
The depth of a product mix is measured by the average number of
different products offered in each product line.
One of the guaranteed constants in the global business environment is
instability.
When a business finds itself squeezed out of a market for a product, it is a sign of being in the ____ stage of the product life cycle.
maturity
Capitol Supply's sales and sales force have continued to expand. Now, the firm plans to add a fleet of company cars as part of its sales compensation package. For Capitol Supply, these vehicles would represent a ____ purchase.
new-task
When a business is making its initial purchase of an item to be used to perform a new job, it is known as a ____ purchase.
new-task
Maslow's hierarchy of needs refers to the five levels of needs that humans seek to satisfy, from most to least basic to survival. These needs, in order from most to least basic to survival are
physiological, safety, social, esteem, self-actualization.
Consumers are changing ____ and consumption behaviors to fit with emerging technologies and trends.
their information searches
A large farming cooperative that focuses on the production of fruits and vegetables uses a business that sells the farmers' products in foreign countries and also provides consulting, insurance, legal assistance, and warehousing to the cooperative. This business would most likely be called a(n)
trading company.
One of the biggest mistakes a marketer can make when engaging in digital marketing is to
treat it like a traditional marketing channel.
A ____ is a type of software that creates an interface that enables users to add or edit the content of some types of websites.
wiki
Convenience products are
relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort.
The three purposes for which individuals or groups can use products in order for it to be considered a business market are
resale, use in daily operations, and direct use in producing other products.
Mario is an avid collector of Major League Baseball memorabilia. He greatly desires to own the "special" bat that earned the slugger Sammy Sosa a seven-game suspension due to its illegal contents. This is an example of a(n) ____ product.
specialty
____ involves consumers' ability to be connected with marketers along with other consumers.
Connectivity
What consumer research method is a means of measuring consumer attitudes by gauging the intensity of individuals' reactions to adjectives, phrases, or sentences about an object?
Attitude scale
Forever 21 is developing a program to get to know its customers. Which of the following is not a reason why Forever 21 needs to understand consumer buying behavior?
All customers are the same when it comes to buying behavior.
The agreement between the United States, Canada, and Mexico that merges these three countries into one marketplace is called
USMCA.
A business partnership between a domestic firm and a foreign firm is known as
a joint venture.
Luke and Hayley are searching for a health club to join. This purchase will likely be affected by ____ involvement.
enduring
Government restrictions on the amount of a particular country's currency that can be bought or sold are known as
exchange controls.
Consumers tend to remember information inputs that support their feelings and beliefs and forget inputs that do not. This is known as selective
retention
Ming went to Costco to shop for a party she was hosting on the weekend. She knew that she could buy larger quantities of food items than she normally did, and they would also be much less expensive. She checked everything off her list and proceeded to the checkout lines. Passing a display of fresh flowers, she thought, "Wouldn't those be nice for the party?" She selected one of the bouquets and placed it in her cart. Ming has most likely engaged in ______ when selecting the food for her party, and ____ when selecting the flowers.
routinized decision making; impulse buying
Shortly after moving into their new home, Elizabeth and Philip purchase and install smoke detectors and an alarm system. They are concerned about fulfilling their need for
safety
Digital media have created opportunities for companies to
target specific markets
A group of brands that a consumer views as alternatives for possible purchase is called a(n)
Consideration set
____ refers to customers' ability to regulate the information they view and the rate and sequence of their exposure to that information.
Control
Business markets are typically divided into four categories. These categories are
producer, reseller, government, and institutional
The NAICS classification is based on
production activities
Maquiladoras are
production facilities in north-central Mexican states.
Manny has just been hired as a product manager for a major technology firm. Currently, he is making purchases for his new apartment and upcoming job. His purchase of _____ would most likely be done through extended decision making, while his purchase of ____ would be made through limited decision-making behavior.
flat screen TV; bath towels
During the growth stage of the product life cycle, marketers must
fortify the product position
Which method of business buying is most likely to be used when the products being purchased are standardized based on certain characteristics?
Description
When buying materials to use in mattress manufacturing, the purchasing agent for Casper Sleep Company considers a variety of factors. Which one of the following is least likely to concern this buyer?
Does the supplier also sell to my competitors?
Which of the following lists the levels of involvement in global marketing from the lowest to the highest?
Domestic marketing, limited exporting, multinational marketing, regional marketing, globalized marketing
Emelia is buying furniture for her apartment for the first time. She is spending considerable time and effort comparing the products that different stores offer. Which type of decision-making process is she using?
Extended
Suhail is shopping for a new suit to wear to an important interview. He really wants to impress his prospective employer and is shopping at many stores to find the right outfit. Suhail is using which type of consumer decision-making process?
Extended decision making
Within the information search step of the consumer buying decision process, what two primary aspects exist?
Internal search and external search
________ that can allow almost real-time measurement and evaluation should be embedded at the onset of a social media strategy.
Key performance indicators
Julia plans to buy a new swimsuit for her spring break cruise. She has not seen this year's styles and thus will do some comparison shopping before making a purchase decision. Julia is engaging in
Limited decision making
Which of the following is used to help maintain a more favorable balance of trade by a country?
Limiting imports
Business products are classified into the following seven categories according to characteristics and intended uses: raw materials, installations, accessory equipment, component parts, process materials, business services, and
MRO supplies.
Which of the following statements about business buying is false?
Orders in business markets tend to be smaller than those placed in consumer markets.
The primary psychological influences on consumer behavior are
Perception, motivation, learning, attitudes, personality, and lifestyles
Two trends that have caused consumer-generated information to gain importance are
the increase of consumers sharing their opinions through digital media and the consumer's mistrust of information from corporations.
Maddy Magoo is a South African children's hair salon chain that caters to children of all ethnicities. It has recently opened salons in the United Kingdom, adding to its numerous salons in its home country. Maddy Magoo allows foreign businesspeople to use its name, logo, methods of operation, advertising, and products. In exchange, Maddy Magoo receives a financial commitment and an agreement to conduct business in accordance with its standard of operations. Maddy Magoo is engaging in
franchising.
Achieving greater penetration of the market is typically a business goal during the ____ stage of the product life cycle.
growth
When products are introduced into one nation from another, acceptance is far more likely
if there are similarities between the two cultures.
When charitable organizations such as the American Cancer Society, Second Harvest Food Bank, and the Red Cross make purchases for goods and services to use in their daily operations, they would be considered to be _______ buyers.
institutional
The three most widely recognized types of consumer decision making are
internal problem solving, external problem solving, situational behavior.
In the consumer buying decision process, a buyer will search his or her memory for information about products that might solve the problem they have identified in the
internal search.
When Chaz realizes his liquor cabinet supply was devastated by last weekend's party, he first retrieves information from his memory about what types of liquor he and his friends like most and then asks the attractive clerk at the liquor store what she would recommend. Chaz started with a(n) ____ search and then progressed to a(n) ____ search.
internal; external
Extended decision making is the type of consumer decision-making process that
is the most complex decision-making behavior, which comes into play when a purchase involves unfamiliar, expensive, or infrequently bought products
When a consumer purchases products occasionally or needs information about an unfamiliar brand in a familiar product category, he or she will most likely engage in
limited decision making.
As Danielle walks to classes, she selects, organizes, and interprets the sensations she is receiving through her sense organs. Danielle is experiencing the process of
Perception
Dalip makes an appointment to visit with a new dermatologist in town because of a recent bad sunburn. When he arrives at the dermatologist's office, Dalip notices a foul odor in the air, worn floor coverings, cluttered rooms that have paint peeling from the walls, and poor lighting. However, the other patients in the waiting room were talking about how much they liked the doctor. While Dalip viewed the dermatologist as competent, Dalip decided not to visit him again even though the dermatologist recommended a follow-up. Which situational influences are most likely to have affected Dalip's decision?
Physical Surroundings
____ are audio or video files that can be downloaded from the internet with a subscription that automatically delivers new content to listening devices or personal computers.
Podcasts
______ is(are) an essential consideration for business customers because it influences operating costs and costs of goods sold.
Price
When Liv goes to the first class of her Operations Management course, she finds out that in addition to the textbook she already purchased, she also needs a specific type of calculator. With regards to the calculator, at which stage of the consumer buying decision process is Liv?
Problem recognition
When Bahama Breeze Fans buys electrical wire for use in producing its ceiling fans, Bahama Breeze is part of what type of market for electrical wire?
Producer
During which stage of the consumer buying decision process does a consumer decide from which seller he or she will buy the product?
Purchase
Retailers like Staples and PetSmart are considered to be members of which business market?
Reseller
Quita reads through her e-mails containing advertisements for sweaters from Zara, purses from Michael Kors, and athletic shoes from Foot Locker. Later while at the mall, she remembers only the shoe ad, thanks to the recent tear in her own Pumas. Quita has engaged in selective
Retention
Forever 21 clothing stores sell primarily what type of products?
Shopping
Acer is very interested in taking advantage of business opportunities in India but does not have access to India's market. Acer has the patent on a low-cost, quality computer system that could assist small businesses in India. IBM Computer, Acer's competitor, is experienced in India's small business market but does not have a computer comparable to Acer's for the small business market. If Acer and IBM work together to utilize these strengths to seize this opportunity in India, what type of business structure would they likely use?
Strategic alliance
Many aspects of consumer buying decisions are affected by the individual's level of involvement. Level of involvement is
The importance and intensity of interest in a product in a particular situation
Marylyn now feels that her teeth are not white enough after seeing advertisements for whitening toothpaste. Marketers promote these brands based on ____ needs, appealing to sex appeal.
physiological
Nike manufactures athletic shoes, shorts, shirts, and a variety of other athletic products. These products make up Nike's product
mix
Jo-Ann Stores encourages customers to visit its website and "like" its Facebook page. It also enlists customers to post feedback on the company, refer articles of interest to other Jo-Ann customers, and offer suggestions for future electronic communication. Jo-Ann is using a positive marketing strategy for its Facebook page and company website because user-generated content appears
more authentic than company-generated content
All of the following are important concerns of business customers except
obtaining products that exceed specifications to ensure the best possible product performance.
After certain inputs have been selected to reach an individual's awareness, the next step in the perceptual process is perceptual
organization.
In considering the viability of potential international markets for Maine Root beverages, Maine Root is advised to take into account ____, which provides insight into market potential.
per capita gross domestic product
Individuals and business organizations that purchase products for the purpose of making a profit either by using the products to produce other products or by using them in their operations are classified as ____ markets.
producer
Kia Motors purchases upholstery for the interiors of its vehicles from various suppliers. This upholstery must have a set of necessary characteristics, standards of quality, and other information that is expressed by Kia Motors. This set is called
specifications.
During the introduction stage of a successful product,
the initial product price may have to be high to recoup expensive marketing research or development costs, which can depress sales.
Benedict is in the market for a new car. He believes that lately there have been more car ads than usual on TV. The need Benedict has is most likely driving which of the following phenomena?
Selective Exposure
Which of the following buying situations is most consistent with routinized response behavior?
Stephanie buying bottled water
Special interest groups and regulatory bodies are ____ forces that must be taken into account in international marketing.
political and legal
Because retailers have to be concerned with product selection, price, and space, they often evaluate products on the basis of
sales per square foot of selling area
Perception is a three-step process that involves
selecting, organizing, and interpreting information inputs
Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products.
shopping
The three major categories of influences on the consumer buying decision process are
situational influences, social influences, and psychological influences