MARK 383 chapter 1

Jenny Rowlins is absolutely exhausted after her shopping trip to pick out a dress for her sorority's formal event. The stores were crowded, and none of her favorite shops carried a dress that she liked in her size. After spending hours at the mall, Jenny gave up and decided to order her dress online and just return it if it wasn't exactly right. This story is an example of how consumer behavior is a(n) __________. a. process b. theory c. industry d. art form

a

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? a. selecting an attractive segment(s) to serve b. profiling current customers c. identifying product-related need sets d. grouping customer with similar need sets

a

A(n) ______ is a person who identifies a need or desire, makes a purchase, and then disposes of a product. a. marketer b. consumer c. content generator d. influencer

b

According to the basic marketing concept, a firm exists to _________. a. influence popular culture b. satisfy needs c. nurture relationships d. dominate market share

b

_____ occurs when individuals or groups make consumption decisions that have negative consequence for their long-run well-being. a. conspicuous consumption b. injurious consumption c. disintermeiation d. demarketing

b

Which of the following is a societal outcome of marketing strategy and consumer behavior? a. product position b. need satisfaction c. social welfare d. sales

c

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? a. a service b. a bundled product c. a bundled service d. an experience

d

Harold is tasked with developing the marketing strategy for his family's business. What should he do first? a. develop the marketing mix b. segment the market c. set objectives d. conduct a market analysis

d

To be successful, a product must __________. a. be advertised more than competitors' product b. have greater distribution than the competition does c. be lower priced than competitors products d. meet the needs of the target market better than the competitors do

d

Which of the following is NOT a step in market segmentation? a. select an attractive segment(s) to serve b. identify product-related need sets c. group customers with similar need sets d. set budget

d