MKT test 2

Which of the following statements about NAICS codes is true?

-1 The fewer numbers in the code, the more general the industry is

Which statement accurately describes buyers/customers for the business-to-business (B2B) market?

-Business marketers typically deal with far fewer buyers than consumer markets.

The North American Industry Classification System (NAICS) codes are designed to

-promote uniformity in data reporting by government sources and private businesses

One concern about using social media, like Twitter, to compile marketing research data is

Consumer privacy

What is a disadvantage of working with secondary data compared to primary data?

It may not be possible to verify data accuracy.

A marketing manager is using demographics to segment markets for his products. This means he is dividing markets by

characteristics such as age, gender, and income.

The fact that you see a Starbucks on many highway exit signs listing restaurant choices would indicate that Starbucks is most likely geographically segmenting based on

customer convenience

Which data collection method uses techniques from the field of anthropology in order to study consumer behavior? A person maybe given a tool to record their daily activities with this form of research.

ethnographic research

The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is called positioning.

false

Work Stuff found that customers who live and work in big urban cities are more likely to buy its portfolio style backpack than consumers who live and work in the suburbs. Based on this information, the company spends more of its marketing budget advertising on city buses and in urban-related magazines since these outlets will be seen by customers living and working in the city. This exemplifies how market segmentation

helps firms decide how to allocate their marketing resources in a way that maximizes profit.

Which is a description of a behavioral segmentation variable?

how often a product is used by the target market

Naif is considered to be tech savvy by his friends. He is unafraid to take risks when it comes to trying new products and is always the first in his group to get the latest trend. What type of product adopter is Naif?

innovator

) Arlo does not like change. He thinks the cell phone he currently owns is just fine even though it doesn't have all the features of new phones on the market. Arlo hopes that he doesn't lose this phone because the company doesn't support this model anymore and he doesn't want to upgrade. What type of adopter is Arlo?

laggard

The organizational activity that links the consumer, customer, and public to the mat through information is

marketing research.

according to your textbook, 3 factors responsible for rapid rise in .... product development. They are faster and more economical transportation... and,

mass production

Gary used marketing research to create a profile that represented the key traits of his company's customers. This is called

persona

The activities a firm undertakes to create a certain perception of its product in the eyes of the target market is referred to as

positioning

In today's society, environmental safety has caused marketers to rethink their products. Now many products include some type of environmentally friendly packaging. These products are being marketed as safer for the environment because they are made from biodegradable materials. This is an example of

repositing

) A buying situation in which a business customer signals its satisfaction by agreeing to purchase the same product at the same price is called a

straight rebuy.

What factor of the targeting process is at work when a marketer ensures that the target market is appropriate for what the organization is and wants to be as defined in its mission statement?

strategic fit

Chaim has opened up a new sports bar/restaurant in town. He has determined that his market segments are (1) students from the nearby college campus, (2) families with teenage children, and (3) young adult males. Chaim now has to determine which of these segments will provide him with the best opportunity to maximize sales. The process of doing this is referred to as

targeting

A company that is introducing a new product in its final form to a geographically limited market to see how well the product sells and to get reactions from potential users is engaged in:

test marketing

Considered to be one of the most important sources of demographic information for marketers, education, age, and occupation. provides free information on data such as how households are segmented by race,

the U.S. Census Bureaus

An undifferentiated targeting strategy is a mass-marketing approach.

true

Secondary research approaches are increasingly used to examine marketing problems because of the relative speed and cost-effectiveness of obtaining the data.

true

Ford wanted to know what features were used the most in its new cars, so the marketing managers invited 10 people who owned Ford cars to sit in a room with a moderator and answer questions. This is an example of:

Primary research

A company wants to understand customer pre- and post-engagement actions, emotions, and expectations that define the entire customer experience. This is called

a customer journey map.

What type of targeting strategy works with uniform products for which the firm can develop a single marketing mix that satisfies the needs of all customers

an undifferentiated targeting strategy

) According to your text, the segmentation base that is often the most difficult to use is

behavioral

A retail chain is emailing only customers who have purchased from it three years row a "thank you for your business" coupon for 30% off. This promotional campaign is a _______ segmentation.

behavioral