Marketing 255 Chapters 6-8
What are the five stages of the consumer adoption process in the correct sequence?
Awareness, interest, evaluation, trial, and adoption
What are the two broad classifications of products?
Consumer products and industrial products
What are the four general characteristics that influence consumer purchases?
Cultural characteristics, social characteristics, personal characteristics, and psychological characteristics
What is market segmentation?
Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes
Which of the following statements is true regarding the marketing of services?
For service providers, a solution to price competition is to develop a differentiated offer, delivery, and image.
What are the four major variables used to segment consumer markets?
Geographic, demographic, psychographic, and behavioral
What are the four choices a company has for developing brands?
Line extensions, licensing, brand extensions, and new brands
________ involves dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies.
Market segmenting
What is the first step of the buyer decision process?
Need recognition
__________ show consumer perceptions of their brands versus those of competing products on important buying dimensions.
Perceptual positioning maps
For which service characteristic do marketers need to pay close attention to fluctuations in demand?
Perishability
Consumers can obtain information from any of several sources. Which source is the most effective in that they legitimize the product?
Personal sources
What are the eight steps in the business buying decision process in the correct sequence?
Problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and performance review
Which of the following correctly identifies the five important decisions marketers must make when developing individual products and services?
Product attributes, branding, packaging, labeling, and product support services
_________ refers to the degree to which innovation appears superior to existing products.
Relative advantage
Which brand dimension is defined as how consumers feel a brand meets their needs?
Relevance
Which of the following is a social factor that influences consumer buying behavior?
Roles and status
Business buyers make decisions that vary with which types of buying situations?
Straight rebuy, modified rebuy, new tasks
What determines whether the buyer is satisfied or dissatisfied with a purchase?
The relationship between the consumer's expectations and the product's perceived performance
Which of the following is a pure tangible good?
Toothpaste
_________ refers to the practice of including ethnic themes and cross cultural practices within a company's mainstream.
a total market strategy
We define the _____ process as the mental process through which an individual process from first learning about an innovation to final adoption.
adoption
Buyers who face a new task-buying situation usually go through ________ of the buying process.
all of the eight stages including performance review
which of the following correctly defines a product?
anything that is offered to the market that might satisfy a need or want
Consumers go through specific stages in the process of adopting a new product. Those five stages include ________, ________, _______, _________, _______.
awareness, interest, evaluation, trial, and adoption
The brand's positioning must be continuously communicated to consumers. Although advertising can help, brands are not maintained by advertising but by customers' ________.
brand experiences
In building brands, companies need to make decisions about four key powerful areas which include ________________________________.
brand positioning, brand name selection, brand sponsorship, and brand development
The ______ market comprises all organizations that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit.
business
Socially responsible target marketing would classify which of the following as an especially vulnerable target market for harmful or controversial products?
children
Consumer products are products and services bought by final consumers for personal consumption. Consumer products include ________ and unsought products.
connivence, shopping, specialty
With regard to the diffusion process for new products consumers respond at different rates depending on _______
consumer and product characteristics
Although business marketers use many of the same variables to segment their markets, they also use some additional variables, such as ________, ____________. _________ and personal characteristics.
customer operating characteristics, purchasing approaches, situational factors
Heeltoe, a boutique that caters to the footwear needs of women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on ________ variables.
demographic
There are two other major steps in designing a customer value driven market strategy: _________ seeks to create superior customer value in the mind of the consumer and ______ seeks to firmly place the market offering in the minds of target customers
differentiation; positioning
Market segmentation is the act of dividing a market into distinct groups of buyers who have ________ and who might require separate marketing strategies or mixes.
different needs, characteristics, or behaviors
A product line is a group of products that are related in function, customer-purchase needs, or distribution channels. Managers need to analyze their product lines periodically to assess ________.
each item's sales and profits and understand how each item contributes to the line's overall performance
Services marketing strategy calls not only for external marketing but also for internal marketing to motivate _______ and interactive marketing to create service delivery skills among _______.
employees; service providers
There are four major variables that might be used in segmenting consumer markets. Those major variables are ________ variables.
geographic, demographic, psychographic, and behavioral
A company can differentiate itself from competitors using symbols such as McDonald's golden arches, Twitter's bird, and the Nike swoosh. Which type of differentiation is this?
image differentiation
At what level do marketers make product and service decisions _________?
individual product, product line, and product mix decisions
Services are characterized by four key aspects, with each posing problems and marketing requirements. The four key aspects are ________________________.
intangible, inseparable, variable, and perishable
The buying center and the buying decision process are influenced by ________, __________, __________, _____________.
internal organizational, interpersonal, individual as well as external environmental factors
In determining product quality, what are the two dimensions of quality marketers must decide upon?
level and consistency
Grocers in neighborhoods with a large Hispanic population typically carry more brands that Hispanic consumers prefer than grocers in other neighborhoods. This is an example of ________.
local marketing
Business markets differ in many ways from consumer markets. The main differences are in ________, __________, __________, __________.
market structure and demand, the nature of the buying unit, types of decisions, and the decision process
Evaluating each market segment's attractiveness and selecting one or more market segments to enter is called _____.
market targeting
The key to the effectiveness of the segmentation analysis depends on finding segments that are ________.
measurable, accessible, substantial, differentiable, actionable
Toyota allows Scion buyers to customize their cars to meet their exact needs and preferences. This is an example of ____________.
micromarketing
_________ is NOT a characteristic important in influencing an innovation's rate of adoption.
motivation
When making a purchase, the buyer goes through a decision process consisting of all of the following ________.
need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior
Companies must manage the _______, which often includes many different buying decisions and various stages of the buying decision process.
overall customer relationship
The four major brand strategy decisions involve brand ________.
positioning, name selection, sponsorship, development
The business buyer decision process itself can be quite involved, with several basic stages. The process begins with ______________ and concludes with _______________.
problem recognition; performance review
Companies must make important decisions about their individual products and services. Individual product decisions involve ________________ and product support services.
product attributes, branding, packaging, labeling
The distinction between a consumer product and an industrial product is based on the ________ for which the product is purchased.
purpose
Segmentation provides a powerful tool for marketers of all kinds. It can help companies identify and better understand key customer segments, __________ to their specific needs.
reach them more efficiently and tailor market offerings and messages
Good service companies understand the service profit chain, which links ________.
service firm profits with employee and customer satisfaction
In a _________, the business-to-business buyer reorders something without modifications.
straight rebuy
Companies must periodically audit their brand's _______ which might turn up brands that need more support, brands that need to be dropped, or brands that must be rebranded or repositioned because of changing customer preferences or new competitors?
strengths and weaknesses
When a company lengthens a product line by adding more items beyond its current range, they are ________.
stretching the line
A simple model of consumer behavior suggests that marketing stimuli and other major forces enter the consumer's "black box." This black box has two parts: ________.
the buyer's characteristics and the buyer's decision process
The quality of services depends on who provides them as well as when, where, and how they are provided. Which characteristics of services does this describe?
variability
Broadly defined, a product is anything that can be offered to a market for ___________ or consumption that might satisfy a want or need. Products include physical objects but also services, events, persons, places, organizations, ideas, or mixtures of these entities.
attention, acquisition, use
People can be classified into the adopter categories with each category having different values and rates of adoption. The adopter categories include ________, ________, __________, _________, __________.
innovators, early adopters, early mainstream, late mainstream, and lagging adopters
A customer value-driven marketing strategy seeks to build the right ________ with the right ________.
relationships; customers
In which type of buying situation will a buyer usually go through all the stages of the business buying process?
A new task buying situation
Which type of business buying situation offers marketers the greatest opportunity but also the greatest challenge?
A new task situation
