marketing exam 2
Which of the following is a personal characteristic influencing a consumer's buying behavior?
occupation
Which of the following is a variable used to segment business buyers that is not used to segment consumer buyers?
operating characteristics
Marketing Information Systems
ASSESS DEVELOP USE
Using _________________ segmentation, marketers form segments of consumers who have similar needs and buying behaviors even though they are located in different countries.
intermarket
The type of segmentation that forms segments of consumers who have similar needs and buying behaviors even though they are located in different countries is known as _________.
intermarket segmentation
______________________ determines if a buyer is satisfied or dissatisfied with a purchase.
The relationship between the consumer's expectations and the product's perceived performance
Buying center
All the individuals and units that play a role in the purchase decision-making process
Competitive advantage
An advantage over competitors gained by offering greater customer value either by: -Having lower prices, or -Providing more benefits that justify higher prices •Firms can differentiate in terms of product,services, channels, people, or image.
Selective exposure
An individual selects which inputs, usually relating to strongest needs, will reach awareness (We cannot be conscious of all inputs at one time)
Derived demand
Business demand that comes from the demand for consumer goods
According to the model of buyer behavior, what is in a buyer's "black box"?
The buyer's characteristics and decision process
Which of the following BEST describes the purpose of customer insights?
To create more value for customers
The __________ outlines researcher responsibilities to respondents, including confidentiality, privacy, and avoidance of harassment.
Code of Standards and Ethics for Survey Research
Which of the following is NOT a step in the marketing research process?
Comparing research findings to other studies
Loyalty status
Consumers can be loyal to brands, stores, and companies.
Nonprobability sample
Convenience sample Judgment sample Quota sample
Which of the following is NOT a primary goal of competitive marketing intelligence?
Creating an understanding of the business-to-business environment
What is the nature of demand in business markets?
Demand in business markets is derived demand.
__________ are part of the environment that enter the consumer's black box and produce certain responses.
Economic, technological, social, and cultural stimuli
Actionable
Effective programs designed to attract
Product Position
How a product is defined by consumers on important attributes—the place a product occupies in consumers' minds relative to competing products.
Which of the following is NOT one of the typical advantages of e-procurement systems?
Improving customer-supplier relationships
Perception is ________.
the process by which people select, organize, and interpret information to form a meaningful picture of the world
Marketing research is __________.
the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
Which of the following is the primary reason firms use competitive marketing intelligence?
To gain early insights into competitor moves and strategies, and to prepare quick responses
Why is it important for a company to collect both primary and secondary data when conducting marketing research?
To have a "full picture" of the subject of its study
Through product differentiation, ___________________________.
brands can be differentiated on features, performance, or style and design
Which of the following refers to the degree to which an innovation fits the values and experiences of potential consumers?
compatibility
__________ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment •Provides early warnings of competitor strategies and potential competitive strengths and weaknesses •Helps firms to protect their own information •Raises ethical issues (don't break the law or codes of ethics!)
competitive marketing intelligence
The website leftyslefthand.com markets products to left-handed consumers only. Which targeting strategy does this represent?
concentrated marketing
The real value of marketing information rests in the _____________________.
customer insights it provides
Segmenting a market based on age and lifecycle-stage is a type of ______ segmentation.
demographic
Segmenting a market based on gender is a type of ______ segmentation.
demographic
__________________ segments are those segments that are conceptually distinguishable and respond differently to different marketing mix elements and programs.
differentiable
__________ is distinguishing a market offering from other offerings in order to create superior customer value.
differentiation
•Differentiable
distinguishable
Geographic segmentation is __________.
dividing a market into different units such as nations, states, regions, counties, cities, or even neighborhoods
Which of the following describes the type of research used to help define the research problem and suggest hypotheses?
exploratory research
Which of the following are tradition-bound, suspicious of changes, and adopt the innovation only when it has become something of a tradition itself?
lagging adopters
__________ is the changes in an individual's behavior arising from experience.
learning
__________ is tailoring brands and marketing to the needs and wants of cities, neighborhoods, and even specific stores.
local marketing
Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as______________________.
market segmenting
__________ is evaluating each market segment's attractiveness and selecting one or more segments to enter.
market targeting
Using intermarket segmentation, ________________.
marketers form segments of consumers who have similar needs and buying behaviors even though they are located in different countries
___________consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.
marketing analytics
The type of segment characteristic in which the size, purchasing power, and profiles of the segments can be quantified is known as _______________________
measurable
When Subaru of America allows Outback buyers to customize cars to meet their exact needs and preferences, it is practicing which type of marketing?
micromarketing
__________ is defined by consumers on important attributes—the place the product occupies in consumers' minds relative to competing products.
product proposition
A(n) __________ refers to electronic collections of customer and marketing information obtained from data sources within the company network.
internal database
__________ is a group of people with shared value systems based on common life experiences and situations.
subculture
__________ is gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.
survey research
market segment
•Group of consumers who respond in a similar way to a given set of marketing efforts
DEVELOPING (MIS)
•Information needed can be obtained from: 1.Internal databases 2.Competitive marketing intelligence 3. Marketing research
Social targeting
•Mines individual online social connections and conversations from social networking sites
Online listening
•Provides valuable insights into what consumers are saying or feeling about a brand
Which of the following would make a segment less attractive to enter?
New entrants finding it easy to enter the segment
Sample size
Number of people to be studied
Which of the following BEST describes research relationships?
Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research.
Which of the following statements about big data is correct?
One result of big data is that marketing managers are often overloaded and overwhelmed with information.
Which of the following statements about online research is correct?
Online surveys generally have higher response rates than those conducted by mail or phone.
__________ is dividing a market into different segments based on social class, lifestyle, or personality characteristics.
Psychographics segmentation
Which of the following would be good advice for someone conducting marketing research in a foreign country?
Reaching respondents in other parts of the world is more difficult than it is in the United States.
Characteristics Influencing an Innovation's Rate of Adoption
Relative advantage, compatibility, complexity, divisibility, communicability
Selective retention
Remembering information inputs that support personal feelings and beliefs and forgetting inputs that do not
Which of the following information must a researcher evaluate to make certain it is relevant, accurate, and impartial?
Secondary information
Benefit segmentation
Segments divided according to the different benefits that consumers seek from the product.
Measurable
Size, purchasing power
Socially responsible target marketing would classify which of the following as an especially vulnerable target market for harmful or controversial products?
children
In a __________ sample, the population is divided into mutually exclusive groups and the researcher draws a sample of the groups to interview.
cluster
Which of the following is NOT a social factor influencing consumer buying behavior?
cognitive dissonance
Consumers obtain information from numerous sources. Which of the following involves dealer and manufacturer websites, packaging, and displays?
commercial sources
Which of the five characteristics identified has an inverse relationship with an innovation's rate of adoption, meaning as this characteristic increases, the rate of adoption is slower?
complexity
Which of the following is likely to slow the adoption of a new technology?
conceptual complexity
Marketing analytics
consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.
Perceptual Map
created by questioning a sample of consumers about their perception of products, brands, and organizations with respect to two or more dimensions
__________ is the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions.
culture
__________ is the fresh understanding of customers and the marketplace derived from marketing information that becomes the basis for creating customer value and relationships.
customer insight
__________ is dividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.
demographic segmentation
__________ is marketing research to better describe marketing problems, situations, or markets such as the market potential for a product or the demographics and attitudes of consumers.
descriptive research
__________ is gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses.
experimental research
A company is conducting market research to determine the best areas in which to sell its product. It has developed the research plan. What is the next step of thiscompany's research plan?
implement the plan
__________ is the stage of the buyer decision process in which the consumer is motivated to locate more information.
information search
In the __________ stage, the consumer seeks information about the new product.
interest
__________ is two or more people who interact to accomplish individual or mutual goals.
a group
•Accessible
reached and served
4 psychological factors
motivation, perception, learning, beliefs and attitudes
Segmentation bases
help companies to -Identify smaller, better-defined target groups -Identify and understand key customer segments -Reach customers more efficiently by tailoring market offerings and messages to customers' specific needs •Segmentation systems help marketers segment people and locations into marketable groups of like-minded consumers.
The Ritz-Carlton has carefully created a strong and distinctive differentiation strategy, which is supported by everything the company says, is, and does. Which type of differentiation is this?
image differentiation
__________ is tailoring products and marketing programs to the needs and preferences of particular customers.
individual marketing
A(n) __________ is people and processes dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights.
marketing information system
__________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
marketing research
__________ are such things as product, price, place, and promotion and are considered part of the environment that influences the buyer's black box.
marketing stimuli
Mi Rancho Supermarkets is a chain grocer that locates stores in neighborhoods with large Hispanic populations. Their stores carry a greater selection of Hispanic and Latin foods. The type of marketing that Mi Rancho uses is an example of ________.
micromarketing
__________ is tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments.
micromarketing
What is the first step of the buyer decision process?
need recognition
Firms that manufacture seasonal products target their consumers primarily through ________ segmentation.
occasion
__________ is dividing a market into segments according to the moments when buyers get the idea to buy, actually make their purchase, or use the purchased item.
occasion segmentation
Marketers of brands understand that they must figure out how to reach ___________________ that can exert social influence on others.
opinion leaders
__________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world.
perception
A manufacturer of half-ton pickup trucks creates a positioning map for the U.S. half-ton pickup market. The position of each circle on the map indicates the brand's perceived positioning on two dimensions: price and orientation (economy versus performance). The size of each circle indicates the brand's relative market share. This is an example of a ________________.
perceptual positioning map
Which of the following needs in Maslow's hierarchy is generally satisfied first?
physiological needs
Sampling unit
- People to be studied
•Business market segmentation
-Demographics, operating characteristics, purchasing approaches, situational factors, and personal characteristics
Consumer market segmentation
-Geographic, demographic, psychographic, and behavioral
•Requirements for effective segmentation
-Measurable, accessible, substantial, differentiable, and actionable
Responsibilities of managers and researchers
-Work together closely when interpreting research results -Share responsibility for the research process and resulting decisions
•Differentiation and positioning has three steps
1. Identifying differentiations to create competitive advantage 2. Choosing advantages to build a position 3. Selecting an overall positioning strategy
Cognitive dissonance
A buyer's doubts shortly after a purchase about whether the decision was the right one Often occurs after expensive, high-involvement purchases
A power tool company wants to give its customers access to internal, nonpublic information about how best to use its product in creative ways. What should the company create to provide customers with this information?
A company extranet
What constitutes a marketing information system (MIS)?
A system to generate and validate actionable customer and market insights
probability
A technique in which every element in the population being studied has a known chance of being selected
nonprobaility
A technique in which there is no way to calculate the likelihood that a specific element of the population will be chosen
AIO:
Activity, interest, opinions
Calvin's Cupcakes is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST path for this company to start to develop an efficient MIS?
Assess the information needs of the company
Which types of companies would most benefit from conducting marketing research?
Both large multinational firms like Disney and IBM and small local firms
New task
Buyer purchases a product or service for the first time
Modified rebuy
Buyer wants to modify product specifications, prices, terms, or suppliers
Internal search
Buyers search their memories for information about products that might solve their problem
Selective distortion
Changing or twisting received information Occurs when a person receives information inconsistent with personal feelings or beliefs
Juanita owns a small hot-air balloon company in Albuquerque, New Mexico. She recently started a Facebook page for her company, and many of her customers are asking for store-sponsored hot-air balloon trips. They believe Juanita's expertise would make her the perfect guide. Juanita decides to host quarterly hot-air balloon trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be drawn from Juanita's situation?
Customer insights can provide valuable information to a small businesses.
An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his or her job?
Inform customers of the company's privacy policy
Marketers obtain needed marketing information from which of the following?
Internal data, marketing intelligence, and marketing research
Responsibilities of the market researcher
Interpret the findings -Draw conclusions -Report findings to management
Which of the following statements regarding the business market is correct?
Many sets of business purchases are made for one set of consumer purchases.
Usage rate
Markets can be segmented into light, medium, and heavy product users.
User status
Markets can be segmented into nonusers, ex-users, potential users, first-time users, and regular users.
Sampling procedure
Method of choosing the people to be studied
Which of the following lists the five steps of the buyer decision process in the correct order?
Need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior
Probability Sample
Simple random sample Every member of the population has a known and equal chance of selection. Stratified random sample The population is divided into mutually exclusive groups (such as age groups), and random samples are drawn from each group. Cluster (area) sample The population is divided into mutually exclusive groups (such as blocks), and the researcher draws a sample of the groups to interview.
________________ is one problem with business-to-business e-procurement.
Suppliers being pitted against one another
Quota sample
The researcher finds and interviews a prescribed number of people in each of several categories.
Convenience sample
The researcher selects the easiest population members from which to obtain information.
Judgment sample
The researcher uses his or her judgment to select population members who are good prospects for accurate information.
External search
When an internal search is not sufficient, consumers seek additional information from outside sources Personal contacts are often important The Internet is a major information source
Concentrated marketing is __________.
a market-coverage strategy in which a firm goes after a large share of one or a few segments or niches
Buying attitudes and preferences are __________.
a type of buyer response
Kidcomp, an American computer-manufacturing firm, targets children younger than age 10 by providing free games and applications. The firm's marketing approach is reflective of ________ segmentation.
age and life-cycle
__________ is the stage of the buyer decision process in which the consumer uses information to review different brands in the choice set.
alternative evaluation
Internal databases
are collections of consumer and market information obtained from data sources withinthe company network.
__________ is a person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea.
attitude
In the adoption process, __________ is when the consumer becomes familiar with the new product but lacks information about it.
awareness
Stages in the Adoption Process
awareness, interest, evaluation, trial, adoption
Which of the following describes the process of dividing markets into groups based on consumers' knowledge, attitudes, uses, or responses?
behavioral segmentation
__________ is dividing a market into segments based on consumer knowledge, attitudes, uses, or response to a product.
behavioral segmentation
________ is a descriptive thought that a person holds about something.
belief
__________ are part of the buyer's black box and produce certain responses.
buyer characteristics
__________ is marketing research to test hypotheses about cause-and-effect relationships.
causal research
Which of the following describes the process of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers?
positioning
__________ is arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
positioning
If competitors cannot easily copy the benefit a company chooses to promote, that benefit is said to be _________.
preemptive
__________ consist of information collected for the specific purpose at hand.
primary data
The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in this process?
problem recognition
The first step of the business buying process is __________.
problem recognition
Through ________ differentiation, brands can be differentiated on features, performance, or style and design.
product
•Substantial
profitable enough
At one time, Miller Beer was known as the "champagne of bottled beer." It was targeted at an elite class of customers. Later, to increase sales, Miller was repositioned to attract members of the working middle class. What is this segmentation method called?
psychographic
Dividing buyers into groups based on social class, lifestyle, or personality characteristics is called ________ segmentation.
psychographic
The marketing manager at Only Organic Delicatessen targets customers who are focused on organic, healthy food choices but who still want to dine out. The restaurant chain offers a wide variety of organic, low-fat, locally raised produce and foods. Only Organic's approach is best referred to as ________ segmentation.
psychographic
H2Coast, an automobile manufacturer, produces fuel-efficient hybrid vehicles that are targeted toward high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on ________ variables.
psychographic
__________ is the buyer's decision about which brand to select.
purchase decision
__________ refers to a prescribed number of people in each of several categories who are identified and interviewed by the researcher.
quota sample
A purse company's ads feature the members of a popular housewives reality show. Product sales increase significantly among fans. From fans' viewpoint, the housewives reality show is a ______________.
reference group
__________ are segments of the population selected for marketing research to represent the population as a whole.
samples
__________ are information that already exists somewhere, having been collected for another purpose.
secondary data
Amazon is now promising same-day pick-up of goods as well as local secure pick-up points. What point of differentiation is this?
services differentiation
In a __________ sample, every member of the population has a known and equal chance of selection.
simple random
__________ is relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors.
social class
In a __________ sample, the population is divided into mutually exclusive groups and random samples are drawn from each group.
stratified random
Which of the following is often considered a key business marketing strategy for winning and holding accounts?
systems selling
___________________ consists of many different people who play multiple roles in the buying process.
the buying center
Need recognition is __________.
the first stage of the buyer decision process, in which the consumer notices a problem
Customer insights are __________.
the fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships
_________ refers to the practice of integrating ethnic themes and cross-cultural practices within a company's mainstream marketing.
total market strategy
Which of the following correctly describes customer purchases, sales force contacts, service and support calls, web and social media site visits, satisfaction surveys, credit and payment interactions, and market research studies?
touch points
A __________ is a specific attribute that a company chooses about a brand and touts as "number one" in regards to that attribute.
unique selling proposition
Munoz Specialty Foods groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Munoz creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its market?
geographic
When marketers aggressively promote only one benefit to the target market, the benefit promoted is known as the product or service's ___________
unique selling proposition
A __________ is the full mix of benefits on which a brand is positioned.
value proposition
Straight rebuy
•Buyer routinely reorders something without any modifications
Systems selling (or solutions selling)
•Buying a packaged solution to a problem from a single seller •Avoids the separate decisions involved in a complex buying situation
Behavioral targeting
•Uses online consumer tracking data to target advertisements and marketing offers to specific consumers
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
Market segmentation is __________.
dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes
____________________ is a characteristic important in influencing an innovation's rate of adoption and described by the degree to which the innovation may be tried on a limited basis.
divisibility
A company's marketing information system (MIS) is valuable because it ___________________.
enables a company to use customer insights to improve relationships with customers
__________ is a form of observational research that involves sending trained observers to watch and interact with consumers in their "natural environments."
ethnographic research
In the __________ stage, the consumer considers whether trying the new product makes sense.
evaluation
In a simple random sample, __________.
every member of the population has a known and equal chance of selection
__________ is marketing research to gather preliminary information that will help define problems and suggest hypotheses.
exploratory research
You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In exchange, you receive a small payment. You are participating in a(n) ________.
focus group
Observational research is __________.
gathering primary data by observing relevant people, actions, and situations
When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________.
generating person-to-person brand conversations