MKTG 320 - TEST 2 - DR CANO (ch. 5-9)

Personal needs

Needs for: self-esteem, accomplishment, fun, freedom, relaxation, alaskan men get find mean of life

What is a type of continuous variation innovation?

New flavor of Crystal Light

Sample size

100 students from McNeese that gets tested

What is brand symbol?

Design of the logo; Imaging part (not the logo)

What product example of each product class? (4 matching)

convenience product, shopping product, speciality product, unsought product

Physiological needs

Needs for: food, drink, sleep, rest, and sex

Social needs

Needs for: love, friendship, status, esteem, acceptance

Safety needs

Needs for: protection, security, physical well-being, buying safest car

What are the characteristics of scientific research?

- Systematic - Controlled - test hypothesized relationships

What are the essential elements of a good MIS?

- unified and centralized - facilitate decision making - quick and accurate information - economical - selective - future orientated - supply information regularly - use new techniques

DSS

A system of decision making decisions

reliable but not valid

A thermometer that consistently gives readings that are five degrees cooler than the actual temperature is _______.

What is product assortment?

All the educational services at McNeese

Highest minority income?

Asian

First part order of questions on a survey

Behaviour and then Intentions (can't offend)

What are trends in global retail and e-commerce sales?

Both increases for brick'n'mortar and e-commerce

How are consumers categorized in the VAL framework?

By motivation

What are the elements of marketing information system (MIS)?

Concentrate on research, internal and external data, DSS, marketing files

Reliability

Consistency of a measure; measure I use with produce same results

Third Part order of questions on a survey

Demographics - age brackets, income brackets (can offend)

Population Size

Everyone enrolled in McNeese gets tested

Validity

Extend to which data measures what intended

What federal agency regulates warrantees?

Federal Trade Commission (FTC)

What is the preferable order of questions on a survey?

First part: Behaviour and then Intentions (can't offend) Second Part: Psychographics (what do you think about life?) Third Part: Demographics - age brackets, income brackets (can offend)

Lot of corporations use what? Are they cheap or expensive?

Focus Groups; Expensive

Decline stage

Fourth stage of product life cycle

What was the overall trend in consumer confidence increased between 2010 and 2016?

Going up

Largest growing minority group?

Hispanic

What group is Dr. Cano apart of?

Hispanic

Expected to drive 70% of beer growth from 2000-2020

Hispanics and African Americans

What are the characteristics of ethnic groups in USA? (6 matching)

Hispanics, Asian, African Americans, White Americans

Treatment

How you manipulate data

Confidence Interval

I am X% confident this is true for the population

reliable and valid

If an intelligence test produces the same score over multiple administrations but it doesn't accurately measure intelligence, then the test is _____ but not _____.

Qualitative

Interviews (1-on-1), focus groups (6-10), Field notes, Video and audio recordings, Images and symbols, Documents (reports, minutes of meetings, e-mails)

What are characteristics of stage of the product life cycle? (8 matching)

Introduction, growth, maturity, decline

Biggest issue with survey data?

Lack of response

What social media platforms is most used in B2B?

Linkedn

What is Louisiana's discretionary income relative to other states?

Lowest; "poor" state

Sales are decreasing

Management problem

What are the methods of collecting survey data?

Person ask the questions (Mall intercepts) Computer assists or directs questioning (online) All respondents to fill out questionnaire themselves without computer assistance (sent by US Mail)

What are the levels of PSSP (4 matching questions)

Personal, social, safety, physiological

What is the difference between population and sample?

Population is the whole, sample is part of the whole

What is primary versus secondary data?

Primary: is collected to address specific phenomena understudy (answer current issue) Secondary:collected for other purpose but be helpful

What type of buyer-seller situations are B2B? (example)

Producers, intermediaries, government, not-for-profit US deals sells to Ford motors

What is product mix depth?

Products underneath the product line

Second Part of order of questions on a survey

Psychographics (what do you think about life?)

What are types of qualitative and quantitative data?

Qualitative: Interviews (1-on-1), focus groups (6-10), Field notes, Video and audio recordings, Images and symbols, Documents (reports, minutes of meetings, e-mails) Quantitative: Questionnaires / surveys, Experiment, Field observation, Ethnographic

Quantitative

Questionnaires / surveys, Experiment, Field observation, Ethnographic

What are the essential element(s) of a true experiment?

Random assignment of subjects to treatment groups (randomized); controlled environment

What describes married-couple male householders?

Represent the largest segment of households

What is a mass merchandise discount chain?

Sam's club, Costco (sells in large bulk in discount prices)

What type of sample is used in survey research?

Sample; Not a population

Is the purchase process dissimilar between B2B and B2C transactions?

Similar but not exactly alike

What are the differences between services and goods?

Simultaneously produced and consumed Services are easy to evaluate Services can not be stored and inventoried

What are reference groups?

Someone you admire; some you'd like to be like

What are the characteristics of the family life cycle?

Stages tend to merge (not clear) 1. coupling 2. Expansion (growing family) 3. Contraction (kids go away) Way to understand family development

What is the pattern of the style, fashion, and fad products?

Style: up and down growth and decline (swiggle) Fashion: slow growth and slow decline (rainbow) Fad: quick growth but steep decline (cliff)

Introduction stage

The initial stage of a product's life cycle; its first appearance in the marketplace, when sales start at zero and profits are negative

Maturity Stage

Third stage of product life cycle

What are characteristics of a good brand name?

Timely Short and simple Easy to recognize and remember

Data can be manipulated - True or False

True

What is cognitive dissonance? example?

Uncertainty about purchase decision; Cano's chair

Speciality product are

Unique items that have brand identification and found in few stores Ex: Vehicles, Boats, Designer watches/bags/rings

What is demand?

Wants + Income

Convenience product are

You buy all the time (commodity) Ex: staple goods, impulse goods, emergency goods (candy, medicine, toys)

TQM (Total Quality Management)

You want to avoid a product ever be returned; want to get it right the first time

What are the characteristics of culture?

basic reason for a person's desire or determination

Secondary Data

collected for other purpose but be helpful

What are the manufacturing jobs in high demand in the USA?

green technology, nanotechnologies, biotechnologies, and solar

Primary Data

is collected to address specific phenomena understudy (answer current issue)

Unsought products are

products that the consumer does not know about or knows about but does not initially want. ex: life insurance, tombstones

Fad

quick growth but steep decline (cliff)

What is selective retention?

remember only what we want to remember; remember what is relative

Fashion

slow growth and slow decline (rainbow)

What is extensive problem solving and what type of products would initiate this action?

the process of a customer trying to get all the information they need in order to be able to make a choice between different brands of a product that they want to buy Shopping for commericial items: non extensive Shopping for automobile: extensive

Growth stage

the second stage of the product life cycle when sales typically grow at an increasing rate, many competitors enter the market, large companies may start to acquire small pioneering firms, and profits are healthy

Style

up and down growth and decline (swiggle)

Shopping products are

usually more expensive than convenience products and are found in fewer stores Ex: television, Tablet, electronics