MKG 310 CH 1

A portion of a larger market whose needs differ somewhat from the larger market is referred to as a(n) _____. A) market segment B) niche C) subgroup D) ancillary market E) secondary market

A

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 B) customer value C) offering D) value proposition E) total value

A

Thomas wants to gain a useable 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 B) regulatory policy C) social marketing D) informed consumers E) resource management

A

Which of the following is NOT evaluated when analyzing a company's own ability to meet customer needs? A) competitors B) financial strengths C) general managerial skills D) production capabilities E) reputation

A

_____ 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 B) Consumer behavior C) Regulation D) Proactive marketing E) Ethical marketing

A

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? A) financial strength B) marketing skills C) general managerial skills D) production capabilities E) reputation

B

Harold is tasked with developing the marketing strategy for his family's business. What should he do first? A) segment the market B) conduct a market analysis C) decide on which segments to target D) develop the marketing mix E) set objectives

B

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 _____. A) consumer behavior B) customer value C) motivation D) equity difference E) perceptual field

B

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 Web sites, 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 _____. A) click-throughs B) behavioral targeting C) spamming D) blogging E) cookie targeting

B

Which of the following is NOT an application of consumer behavior? A) marketing strategy B) human resource management C) regulatory policy D) informed consumers E) social marketing

B

_____ 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. A) Marketing B) Consumer behavior C) Psychographics D) Demographics E) Psychology

B

It is critical that a firm consider value from which perspective? A) the competition's B) the firm's C) the customer's D) the government's E) the industry's

C

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? A) setting objectives B) segmenting the market C) conducting a market analysis D) assessing the outcomes E) targeting the market

C

Most economically developed societies are legitimately referred to as _____ societies. A) marketing B) proactive C) consumption D) competitive E) enhanced

C

To survive in a competitive environment, an organization must provide its target customers more _____ than is provided to them by its competition. A) product B) service C) value D) feedback E) attention

C

Which of the following is a component of a market analysis? A) market segmentation B) objectives C) conditions D) price E) all of the above

C

How can an organization provide superior customer value to customers? A) by conducting market research B) by offering their products at the lowest price C) by offering extended warranty coverage on products D) by doing a better job of anticipating and reacting to customer needs than the competition does E) by offering more variations of a product

D

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 _____. A) social psychology B) cognitive psychology C) management D) consumer behavior E) organizational behavior

D

The difference between all the benefits derived from a total product and all the costs of acquiring those benefits is known as _____. A) price B) position C) consumer behavior D) customer value E) equity

D

Tracking consumers' online activity and delivering specific banner ads based on that activity is known as _____. A) clickstream B) blogging C) spam D) behavioral targeting E) electronic targeting

D

Which of the following is NOT true regarding consumer behavior? A) Organizations are applying theories and information about consumer behavior on a daily basis. B) It is often necessary to conduct research. C) Consumer behavior is a complex, multidimensional process. D) The overall model of consumer behavior presented in the text is accurate in predicting consumer behavior. E) Marketing practices designed to influence consumer behavior involve ethical issues that affect the firm, the individual, and society.

D

_____ are small, convenient, open-air retailing complexes laid out to evoke the small-town shopping districts of previous generations. A) Malls B) Kiosks C) Town centers D) Lifestyle centers E) Micro-malls

D

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? A) the company's own ability to meet customer needs B) competitors' capabilities and strategies C) consumers' needs D) conditions in the market E) all of the above

E

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 product B) a service C) a bundled product D) a bundled service E) an experience

E

Marketing strategy begins with _____. A) market segmentation B) targeting C) conducting an outcomes assessment D) objective setting E) conducting a market analysis

E

Mia is concerned how her marketing activities will affect individual consumers as well as society at large. Mia is implementing _____. A) conscientious marketing B) regulated marketing C) ethical marketing D) proactive marketing E) social marketing

E

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 _____. A) demographic segment B) lifestyle segment C) market potential D) sub-market E) market segment

E

Which of the following aspects is evaluated when determining a firm's ability to meet customer needs? A) financial condition B) general managerial skills C) production capabilities D) technological sophistication E) all of the above

E

Which of the following is a key aspect regarding consumer behavior? A) Organizations are applying theories and information about consumer behavior on a daily basis. B) It is often necessary to conduct research. C) Consumer behavior is a complex, multidimensional process. D) Marketing practices designed to influence consumer behavior involve ethical issues that affect the firm, the individual, and society. E) all of the above

E

Which of the following is used by firms to influence consumers? A) ads B) packages C) store environments D) sales pitches E) all of the above

E

Why is China very attractive to marketers around the world? A) because it represents a collective approach to marketing in contrast to the traditional individualist approach used in the United States and other western cultures B) Chinese consumers are very brand loyal C) they are the heaviest users of the Internet D) Chinese teens are easier to understand because they are less "trendy" than teenagers from other countries E) because of its massive population, rising income, and emerging youth market

E