Marketing Quiz 2

At a single point in time, a person's motives are all of equal strength.

False

Experimental research is used to make tentative hypotheses more specific.

False

Exploratory research is concerned with identifying the characteristics of markets or categorizing market activities.

False

In probability sampling, there is no way to calculate the likelihood that a specific element of the population being studied will be chosen.

False

One very important consideration for business purchases is the type of packaging used.

False

Online B2B auctions are especially popular for selling new products.

False

The criteria used to group people into classes are basically the same in all societies

False

Cognitive, affective, and behavioral are the three major components of

attitudes

The results of many studies have been inconclusive regarding the association between buyer behavior and

personality

To estimate the purchase potential of business customers or groups of customers, a marketer must find a relationship between ________ and a variable available in industrial classification data, such as the number of employees.

the size of potential customers' purchases

Which one of the following best characterizes a marketing information system (MIS)?

An MIS provides a continuous flow of information about such things as distribution costs, prices, sales, and advertising expenses.

The attitude toward the object model (known as the Fishbein model) consists of which three elements?

Beliefs about product attributes, the strength of beliefs, and the evaluation of beliefs

Which of the following is an example of benefit segmentation?

Colgate-Palmolive markets three types of toothpaste: toothpaste with fluoride to strengthen tooth enamel, toothpaste with whitening properties, and toothpaste for sensitive gums.

When buying materials to use in manufacturing mattresses, the purchasing agent for Casper Sleep considers a variety of factors. Which one of the following is least likely to concern this buyer?

Does the supplier also sell to my competitors?

Which of the following products would probably require extended decision making before a purchase?

Expensive products

What stage of the consumer buying decision process comes after problem recognition?

Information search

Oleg owns an ice cream and frozen treat restaurant and is considering adding new menu items. He recently met with the representative of a yogurt company who is trying to convince Oleg to add the frozen yogurt to his menu. Oleg has never offered a yogurt product in the restaurant and has concentrated on ice cream items. The yogurt product would not need a different freezer or dispensing unit, so the investment would be similar to changing flavors of ice cream. However, because he's never offered yogurt, he's unsure what the market response will be and how much profit he can achieve with the frozen yogurt. What type of purchasing decision does this represent for Oleg?

Modified rebuy

When purchasing large amounts of light bulbs, which purchase method would an organization most likely use?

Sampling

Alex works for a manufacturer of sports equipment and is currently developing a company sales forecast for golf clubs. While reviewing data, he discovered a pattern in sales volume over the past ten years that peaked during two months of each year. Alex likely used which sales forecasting technique? The Delphi technique Executive judgment Time series analysis Market tests Regression analysis

Time series analysis

You are being quizzed on your knowledge of marketing. A question on the quiz asks, "What is the ultimate goal of marketing research for a firm?" Which of the following is the best answer to this question?

To improve organizational performance

A company sometimes defines a total market as its target market. True or False

True

A new-task purchase is one in which the business makes an initial purchase of a new item.

True

Expecting ethical business behavior reflects our culture.

True

Stratified sampling may reduce some of the error that could occur in a simple random sample.

True

____ analysis is a systematic evaluation of current and potential suppliers that focuses on many dimensions including price, product quality, delivery service, product dependability, and overall company reliability.

Vendor

The merchandise available at various Target stores—even ones separated by just a few miles—varies somewhat with products chosen to appeal to the customers drawn to each store. Targets in suburban areas are likely to a carry wider and deeper mix of toys, children's apparel, and groceries, while those near colleges are more likely to focus on a small selection of adult clothing, apartment essentials, and beauty products. Target is practicing behavioristic segmenting. psychographic segmenting. profiling. macromarketing. micromarketing.

behavioristic segmenting.

Thomas has been a marketing manager at Albertson's for several years. Recently Albertson's adopted a new type of software that is able to collect information from a variety of sources and look for unique trends that would not normally be observable using other marketing research methods. The information revealed the surprising insight that a certain age group of people buys more organic food than others. Thomas was surprised at this revelation because he had thought just the opposite. This new system allowed Thomas to make use of _________ and interpret it to yield unique insights he could use in future marketing campaigns.

big data

Variables such as geographic location, type of organization, customer size, and type of product usage are used to segment ____ markets.

business

Segmentation variables for consumer markets are usually grouped into four categories:

demographic, geographic, psychographic, and behavioristic.

Use the following to answer the questions. ​ GE Transportation produces locomotive engines for sale in countries around the world. After looking at the total market for locomotive engines, the company found that various rail lines wanted different types of engines. Major rail lines in the U.S. and South America wanted engines to haul heavy freight. Rail lines in Sweden and Germany were interested in a cleaner, greener locomotive engine. Rail lines operated by several Eastern European countries wanted locomotive engines for running short distances between cities in their own country. GE Transportation is currently manufacturing its GE 4400 for heavy freight, its Hybrid Eco-Engine, and its Dash 9, suited for shortline transport. ​ Refer to Scenario 6.2. GE Transportation is most likely using a(n) ______ targeting strategy, segmenting by ________ variables.

differentiated; end use

The major differences between exploratory and conclusive research are

formalization and flexibility.

Although it may seem logical to target higher-income consumers, many marketers choose to target lower-income segments because higher-income consumers are harder to reach. higher-income consumers require more company resources. higher-income consumers represent a much larger population globally. lower-income consumers require fewer company resources. lower-income consumers represent a much larger population globally.

lower-income consumers represent a much larger population globally.

In placing a tire order with Goodyear, River City Industrial Supply finds that the truck tires it is ordering have increased $37.50 in price since the last order. River City proceeds with the order, confident that it can pass on the price increase to future customers. This is an example of business products having ____ demand.

inelastic

A few months ago, Costco adopted a new brand of organic cheese. However, sales have been lower than expected. Costco decides to survey some of its customers at its stores to try and understand this issue. It set up demonstrations in several stores and asked consumers to try samples of its organic cheese product. It then asked them how they liked the cheese. The majority of respondents indicated they were very satisfied with the cheese's flavor. This occurred in trial after trial. Costco is confused. Satisfaction with the cheese is positive, yet sales continued to remain low. They ask you, a marketing consultant, why you think this is. You reply that while the tests had strong ___________, they did not have strong ____________. You recommend that Costco survey customers on their purchase intentions rather than their satisfaction with the product's taste.

reliability; validity

Because retailers have to be concerned with product selection, price, and space, they often evaluate products on the basis of

sales per square foot of selling area.

Use the following to answer the questions. ​ Consumers use information from many sources when making purchasing decisions, including information from friends and family members. One of the most dissatisfying consumer experiences is with auto repair. Since she has experienced a problem starting her car when the weather is cold, Kayla has asked several of her friends and family members where they have their cars repaired. Kayla has heard that Skola's Auto Repair has reasonable prices, but it can be difficult to get an appointment. Steve, one of Kayla's friends, had a very poor experience with Skola's. However, once he complained to them, they fixed the situation and now he prefers their auto repair shop over others. Refer to Scenario 7.1. A dissatisfied Skola's Auto Repair customer told a friend about his experience. The friend has been a long-time Skola's customer and the next day, didn't remember what he was told. This is an example of

selective retention.

Cas is an account manager for the music production company, C3, and has always been an avid musician and music enthusiast. Cas is responsible for working with one of its major clients, State Farm Insurance, which is a major sponsor of various music festivals such as the Coachella Valley Music and Arts Festival, Bonnaroo, Lollapalooza, and Austin City Limits. In his free time, Cas plays guitar in a band and enjoys performing at open mic nights or the occasional gig. His job and his hobbies mesh so well that he doesn't even feel like work is "work"—it's more recreation to Cas since he enjoys the music industry so much. Cas's passion for music and his view of himself as a musician influences his purchasing choices of products and brands. Cas's ________ influences his purchasing decisions as he seeks to purchase items that reflect or enhance his persona.

self-concept

company sales potential

the firm's financial condition is tied to a single and specialized marketing mix.