Business Midterm 2

Louella's evaluation of the cost of a new car, how many miles per gallon it gets, and whether there is enough room for her growing family represents her _______ motives; how the car makes her feel whenshe's driving it and whether she thinks her friends will be impressed when they see her behind the wheel reflect her _______ motives.

rational; emotional

To coincide with the release of the movie Minions, McDonald's offered a Minions Happy Meal featuring a dozen different minion toys, along with a new flavor of yogurt in its Happy Meals that also featured minions on the packaging. This is an example of _______.

sales promotions

Which of the following would be considered a source of primary data?

Focus group interviews

Brittni uses semi-precious gemstones, beads, clasps, and cord to make one-of-a-kind Southwestern-inspired jewelry. What type of utility does Brittni create?

Form

Courtney's Gourmet Cupcakes creates _______ utility by combining flour, eggs, sugar, cocoa, nuts, and numerous other ingredients into delectable cupcakes.

Form

A state passes a law requiring major appliances sold in the state to meet energy consumption standards. Which factor in the firm's external environment does this BEST reflect?

Political-legal environment

A car dealership offers a "sign it and drive it" promotional event in which eligible buyers can purchase a vehicle with $0 down, $0 due at signing, and $0 first month's payment; all they have to do is sign the papers and drive away. This BEST reflects which form of utility?

Possession

Marketing research conducted by a consumer products producer reveals that some consumers buy toothpaste to whiten their teeth, while others buy it because it freshens their breath, makes their teeth less sensitive to heat and/or cold, or even because it has a certain flavor. If the company decided to segment the market based upon this data, it would be using _______ segmentation.

Behavioral

Lindar Property Development specializes in developing luxury condominium communities for "empty nesters" who are 55+ years old and have an annual income in excess of $100,000 per year. Which type of variable does this reflect in segmenting the market?

Demographic

The Federal Reserve System suddenly raises the federal discount rate, resulting in significantly higher interest rates for consumers and businesses that want to purchase property, vehicles, machinery, or other items on credit. Which factor in the firm's external environment does this BEST reflect?

Economic environment

Louella has been shopping for a new car for several weeks. She narrowed her selection down to a fewmodels, and has been doing extensive research on the Internet to determine which car would be the best match for her in terms of price, gas mileage, features, etc. Which stage of the consumer buying process does this BEST represent?

Evaluation of alternatives

Participants in a marketing research study are given a sum of money to purchase products in a simulated store. Researchers then change the shelf location of the product to determine what effect it has on sales volume. What form of marketing research are the researchers using?

Experimentation

Which of the following is a key element of customer relationship management?

Learn as much as possible about your customers so that you know what they want and will buy.

Which of the following is NOT a B2B market?

Mercantile market

Which of the following is the BEST description of industrial goods?

Physical items used by companies to produce other goods or services

A producer of camping gear such as tents, sleeping bags, and camp stoves has identified its target market as outdoor adventurers or enthusiasts. Which type of variable does this reflect in segmenting themarket?

Psychographic

Which of the following involves one-time direct inducements to buyers to purchase a company's products, such as coupons and package inserts?

Sales promotions

Ted was just promoted to a managerial position and feels that he needs to buy a new luxury car and join the country club in order to "fit in" with his new colleagues at the company. This is an example of _______ influences

Social

After her recent flight to Paris, Linda received an email from Delta Airlines, asking her to rate the flightcrew's performance and her satisfaction with her flight experience. What form of marketing research is Delta using?

Surveys

Which of the following factors determines whether a product is characterized as a consumer good or an industrial good?

The end user of the product

The ratio for determining value is BEST described as _______.

Value = Benefits divided by ÷ Costs

_______ is a form of marketing that focuses on spreading information and opinions about a product or service from person to person, often through email or social media sites.

Viral marketing

You go to the store to buy cereal for your breakfast, but you can't find your favorite brand, so you buy English muffins instead. This is an example of _______.

a substitute product

Market segmentation is BEST described as _______.

dividing a broader market into subsets of customer types having similar needs, interests, and priorities

In terms of the amount of business conducted, the B2B market is _______ the U.S. consumer market.

larger than