Chapter 1 Mkg310

Which term reflects the fact that most products in developed economies satisfy more than one need?

D. need set

_____ is the application of marketing strategies and tactics to alter or create behaviors that have a positive effect on the targeted individuals or society as a whole.

A. social marketing

_____ is the amount of money one must pay to obtain the right to use the product.

C. Price

Which of the following is an internal influence on consumer behavior?

C. attitudes

Which of the following is NOT a critical question for developing marketing communications?

E. all of the above are critical questions

_____ represents how one lives, including the products one buys, how one uses them, what one thinks about them, and how one feels about them.

A. Lifestyle

Which of the following is NOT a step in market segmentation?

A. Set Budget

Which of the following is NOT evaluated when analyzing a company's own ability to meet customer needs?

A. competitors

Bob and his friends go out every weekend and drink until they get drunk. Then they drive home in that condition. Which type of consumption does this represent?

A. injurious consumption

A portion of a larger market whose needs differ somewhat from the larger market is referred to as a(n) _____.

A. market segment

Thomas wants to gain a usable understanding of consumer behavior in order to help him become a more effective marketing manager. Which application of consumer behavior does this represent?

A. marketing strategy

To be successful, a product must _____.

A. meet the needs of the target market better than the competition does

Rod is surveying consumers to gain a better understanding of his restaurant's image relative to competing restaurants. Rod is concerned with his restaurant's _____.

A. position

What is the first step in the consumer decision process?

A. problem recognition

Auxiliary or peripheral activities that are performed to enhance the primary product or primary service is referred to as _____.

A. service

Marketing strategy is formulated in terms of the marketing mix; that is, it involves determining the product, features, price, communications, distribution, and services that will provide customers with superior value. This entire set of characteristics is often referred to as the _____.

A. total product

_____ is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

B. Consumer Behavior

_____ is everything the consumer must surrender in order to receive the benefits of owning/using the product.

B. Consumer price

John purchases and is satisfied with his SUV because he believes that it provides greater crash safety than a sedan even though this is not technically true. John's satisfaction is based on the distinction between _____.

B. actual need fulfillment and perceived need fulfillment

A product's position refers to _____.

B. an image of the product in the consumer's mind relative to competing products

Tacoda Systems tracks consumers' online activity and delivers specific banners based on that activity. This tracking and ad delivery system has been installed on almost 3,000 websites, and advertisers pay on a pay-for-performance basis, which means that advertisers pay Tacoda Systems only when a consumer clicks on their ad. The tracking of online activity and delivery of ads based on that activity is called _____.

B. behavioral targeting

A shopper who cares about brand-name merchandise and convenience is known as a ________ shopper.

B. brand

Harold is tasked with developing the marketing strategy for his family's business. What should he do first?

B. conduct a market analysis

Which of the following is NOT a societal outcome of marketing strategy and consumer behavior?

B. customer satisfaction

Laurie saved for six months to have enough money to buy a new designer outfit to wear to a special party. She had to travel to a larger city to purchase this outfit, but it was worth it to her because it made her feel beautiful and confident. The difference between the benefits Laurie perceived from this purchase and the cost to her to acquire these benefits describes her _____.

B. customer value

Talbot's is a women's clothing store that offers classic fashions at a slightly premium price (i.e., a wool skirt typically costs over $100). During the process of market segmentation, Talbot's identified a group of consumers who are larger than average women yet still want stylish clothing. Further research into this segment revealed that these women tend to be between the ages of 35 and 50, are career-oriented, have a household income over $50,000, and are married with children under the age of 18 living at home. This group is also heavy users of magazines and newspapers as well as prime-time television. Which step of market segmentation does this describe?

B. grouping customer with similar need sets

Which of the following is NOT an application of consumer behavior?

B. human resource management

Carlos is attempting to segment the market for his company's products. Where should he begin?

B. identify product-related need sets

The product, price, communications, distribution, and services provided to the target market is referred to as the _____.

B. marketing mix

As part of developing your company's marketing strategy, you are tasked with analyzing the new-product capabilities, channel strength, advertising abilities, service capabilities, marketing research abilities, and market and consumer knowledge. Which aspect of your company's capabilities are you assessing?

B. marketing skills

Barry is looking for a car that is dependable yet stylish enough to let others know that he has achieved a respectable status in his life and career. He also wants it to be a high-performance automobile. Dependability, status, and performance represent Barry's _____.

B. need set

Liz Claiborne is a brand of clothing, accessories, and home products. Brand managers at this company are trying to learn which internal influences impact their customers' needs and desires most. Which of the following is a possible internal influence these managers should examine?

B. personality

What is the LAST step in market segmentation?

B. selecting an attractive segment(s) to serve

The totality of an individual's thoughts and feelings about him- or herself is known as _____.

B. self-concept

The segment(s) within the larger market on which an organization will focus its marketing effort is referred to as the _____.

B. target market

Which of the following is FALSE regarding the working poor?

C. They spend a larger portion of their relatively small incomes on meals away from home.

Which of the following is a component of a market analysis?

C. conditions

Jamie is developing a thorough understanding of his company's own capabilities, the capabilities of current and future competitors, the consumption process of potential customers, and the economic, physical, and technological environment in which these elements interact. Which step in the marketing strategy process is Jamie performing?

C. conducting a market analysis

Most economically developed societies are legitimately referred to as _____ societies.

C. consumption

Tony's job entails making sure his company's products get to retailers so that target customers can buy them. Which element of the marketing mix is Tony involved with?

C. distribution

Which element of the marketing mix is concerned with having the product available where target customers can buy it?

C. distribution

What is the first step in market segmentation?

C. identify product-related need sets

Karen was at the checkout at the grocery store and remembered that she was out of chewing gum that she normally likes to keep in her purse. Without much thought, she grabbed two packages of the gum she likes. What type of consumer decision does this illustration?

C. low-involvement decision MAYBE???

Which type of decisions involve very little effort or thought on the part of the consumer?

C. low-involvement decisions MAYBE????

A(n) _____ is anything a consumer acquires or might acquire to meet a perceived need.

C. product

Which of the following is NOT considered one of the firm's outcomes of the marketing strategy and consumer behavior process?

C. service

Which of the following is a societal outcome of marketing strategy and consumer behavior?

C. social welfare

It is critical that a firm consider value from which perspective?

C. the customers

What does the consumption of a product like Nikes mean to Andre, the working poor consumer discussed in the "Consumer Insight"?

C. they serve as a visible symbol that he is back as a successful member of society

To survive in a competitive environment, an organization must provide its target customers more _____ than is provided to them by its competition.

C. value

Which of the following statements is true regarding the overall model of consumer behavior?

D. A consumer's self-concept and lifestyle influence his or her needs and desires.

_____ occurs when individuals or groups make consumption decisions that have negative consequence for their long-run well-being.

D. Injurious consumption

Amy purchased a new 32" LCD high-definition television and paid $400 for it. This amount of money Amy had to pay to obtain this product is known as the _____.

D. Price

Which of the following is NOT true regarding consumer behavior?

D. The overall model of consumer behavior presented in the text is accurate in predicting consumer behavior.

Tracking consumers' online activity and delivering specific banner ads based on that activity is known as _____.

D. behavioral targeting

How can an organization provide superior customer value to customers?

D. by doing a better job of anticipating and reacting to customer needs than the competition does

One primary function of Harriet's job is to study individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of her company's products and services to satisfy needs and the impacts that these processes have on the consumer and society. Harriet works in the field of _____.

D. consumer behavior

Timothy and his wife are considering the purchase of a new car. In addition to the price, they are also considering the cost of insurance, gasoline, maintenance, finance charges, and license fees. All of these factors combined represent the _____.

D. consumer cost

The difference between all the benefits derived from a total product and all the costs of acquiring those benefits is known as _____.

D. customer value

Which is NOT an external influence on consumer behavior?

D. perception

Juan has segmented the market for boats and is currently analyzing each with respect to several factors, such as size, growth rate, competitor strength, fit with company image, distribution available, cost to serve, and risk before deciding which segment to target. Which step of market segmentation is Juan conducting?

D. selecting an attractive segment(s) to serve

J&J Produce is a distributor of fresh produce. They conducted a thorough analysis of its market and identified groups of consumers that had similar product-related needs. One particular market identified wanted fresh and unique produce, such as Swiss chard, radicchio, and exotic fruits, and they were willing to pay higher prices for these choices. J&J Produce decided to focus its marketing effort on this segment of the total market. This segment is J&J's _____.

D. target market

Which of the following aspects is evaluated when determining a firm's ability to meet customer needs?

E. All the above

_____ include(s) advertising, the sales force, public relations, packaging, and any other signal that the firm provides about itself and its products.

E. Marketing communications

An image of the product or brand in the consumer's mind relative to competing products and brands is referred to as the product's _____.

E. Position

Which of the following is used to describe a group of consumers with similar needs sets?

E. a, b, and c

Which of the following is a key aspect regarding consumer behavior?

E. all of the above

Which of the following is included in marketing communications?

E. all of the above

Which of the following is part of the marketing mix?

E. all of the above

Which of the following is used by firms to influence consumers?

E. all of the above

Which of the following is used to evaluate the attractiveness of various market segments?

E. all of the above

Darren is conducting a market analysis for his business, and he has asked your advice on what he should be analyzing. Which of the following should he consider at this step of marketing strategy development?

E. all the above

Disney World in Orlando, FL has several theme parks, resorts, restaurants, and stores. Each is intentionally created to offer a memorable event for visitors. For example, the Wilderness Lodge is a large resort hotel on the grounds, and everything within it is made to look like log cabins and pioneer days. Even the casual restaurant has the wait staff dressed in pioneer costumes, and they put on funny little skits when they are waiting on customers. Which of the following best describes what Disney is selling?

E. an experience

Why is China very attractive to marketers around the world?

E. because of its massive population, rising income, and emerging youth market

Marketing strategy begins with _____.

E. conducting a market analysis

Teresa is trying to understand her customers better. She is examining the external influences that shape her customers' self-concepts and lifestyles. Which of the following is a possible external influence Teresa could examine?

E. culture

Smaller women like to purchase fashionable clothes just as much as any women. However, most clothes are not proportioned for their smaller size and do not fit well. As a result, several manufacturers offer "petite" sizes of clothing for this group of consumers. Women who comprise this group have needs that differ somewhat from the total market and represent a _____.

E. market segment

Which outcome of marketing strategy produces the revenue necessary for the firm to continue in business?

E. sales and profits

Which is NOT a step in the consumer's decision process?

E. self-concept analysis

Mia is concerned how her marketing activities will affect individual consumers as well as society at large. Mia is implementing _____.

E. social marketing