MKTG 3310: Ch. 6-10 Learnsmart questions!

Global STP is more complicated than domestic STP because:

consumers view products and their roles differently in different countries

Place the stages of the marketing research process in the correct order.

1. Defining objectives 2. Designing the research project 3. Data collection 4. Analyzing data 5. Implementing the action plan

Which of the following factors threaten Chinese economic growth?

A rapidly aging population Slow population growth

Which of the following best describes a focus group?

A small group of people put together for an intensive discussion

If a firm positions it's product too closely to the competition, they risk __________.

A trademark infringement lawsuit

The level of economic development, as well as differences in product and technical standards, help determine the need for and level of product ____________ in a global product strategy.

Adaptation

Gross domestic product is defined as the total market value of ________ produced by a country in a year.

All goods and services

Marketing research consists of which of the following? (Check all that apply)

Analyzing data Collecting data Interpreting data

_______ segmentation groups consumers on the basis of the outcomes they seek and derive from the products or service, such as clothing, appliances, toothpaste, or paper towels.

Benefit

At Kroger, customers present their loyalty cards in exchange for discounts. Later, Kroger can use this sales data to understand how customers shop. This is an example of ____ which is a source of internal secondary data.

Data mining

____ uses a variety of statistical analysis tools to uncover previously unknown patterns in the data or relationships among variables.

Data mining

Firms find it necessary to use data mining techniques to extract valuable information from their _.

Data warehouses

_________ segmentation variables include age, income, and gender.

Demographic

Firms using a(n) "_________ targeting strategy" target several market segments with a diverse offering for each.

Differentiated

It is important to ensure that segments are distinct from one another because too much overlap between segments mean that _________.

Distinct marketing strategies are not necessary to meet segment members' needs

Retailers may devise a creative solution for getting their product to hard to reach consumers. The development of this type of solution is part of the firm's __________.

Distribution strategy

Deomographic segmentation is the most common segmentation strategy because these segments are _____________.

Easy to identify

Which of the following are advantages of conducting a focus group online in contrast to in person?

Elimination of geographic barriers Lower costs Access to a wider variety of customers

Since 1978, china's leadership has:

Embraced market-oriented economic development

List the following in order of the segmentation, targeting, and positioning process, with the first step at the top.

Establish strategy or objectives Use segmentation methods Evaluate segment attractiveness Select target market Identify and develop positioning strategy

_____ research systematically manipulates one or more variables to determine which variables have a causal effect on another variable.

Experimental

Select all of the following that are quantitative research methods.

Experiments Scanner data Survey

A country with a trade surplus:

Exports more goods than it imports

Which of the following are benefits of conducting surveys online rather than in person?

Fast processing Lower cost Higher response rate

Examples of qualitative research methods.

Focus groups Social media

Concentrated targeting strategies are generally __________ compared to differentiated targeting strategies.

Focused

How have joint venture regulations changed in India, encouraging more foreign investment?

Foreign retailers are now allowed to own more that 50% of joint ventures

Grouping a market by country, region (northeast, southeast), or areas within a region is known as ________ segmentation.

Geographic

Glocalization refers to the __________ of selling the same product or service in both the home country market and the host country.

Global product strategy

In the twenty-first century, goods, services, capital, people, and information, and ideas often flow across international borders, a process known as ___________.

Globalization

The strategy in which a firm decides to standardize its products globally but use different promotional campaigns locally is referred to as ___________.

Glocalization

______ consists of GDP plus the net income earned from investments abroad.

Gross national income

Which of the following factors have helped Brazil's economy to grow? (Check all that apply)

High literacy rate A growing middle class

Social media sites can provide insights into the opinions that consumers have of the firm;s products and those of its competitors _______.

In the consumer's own words

________ is defined as the basic facilities, services, and installations needed for a community or society to function, such as water and power lines, and public institutions.

Infrastructure

An exchange rate quantifies how much a currency _____________.

Is worth in relation to another

Why should managers pay attention to the customer defection rate?

It affects the company's profits. It reveals how many customers switch to some other company each year.

Breakfast cereal manufacturers have separated the market into many segments. How does selecting a target market segment allow Kellogg's to maximize its chances of success in the cereal industry?

It allows the company to apply its specific competencies toward the most attractive market segment

Which of these are advantages of primary research?

It can be tailored to the data needs It offers insights into consumer behavior

What does the value proposition do for the marketers?

It communicates the customer benefits provided by a product or service

In the timeline for a firm's global expansion, a firm conducts an internal assessment of its capabilities when:

It has concluded its assessment analysis of the most viable markets

Which of these is NOT an advantage of secondary research?

It is the best source of unbiased data

One disadvantage of secondary data is that ____.

It may not be exactly what the research project requires.

Which of the following are disadvantages of primary data collection?

It takes more time It costs more

What are the factor considered in the analysis of profitability of a market segment? (Check all that apply)

Market growth Market competitiveness Market access

Which of the following is NOT a factor influencing the profitability of segment over the lifetime of a typical customer relationship?

Market growth rate

The process of dividing the market into groups of customers who have different needs, wants, or characteristics is called _______. These groups of buyers might want products or services designed especially for them.

Market segmentation

Firms spend millions of dollars to develop brand names that have no preexisting meaning in any known language because:

Marketers want to avoid potential embarrassment that language confusion can cause

Globalization refers primarily to the evolution of ______.

Markets

The marketing strategy a firm chooses when entering a new foreign market depends on the _________ of the target consumers.

Needs

___ research is particularly useful when consumers are unable to talk about their experiences.

Observation

____ is a type of research that can vary in length from a very short period to days or weeks.

Observation

_____ is a qualitative research method that entails examining purchase and consumption behavior through personal viewing or video camera scrutiny.

Observation

________ segmentation is a very specific form of behavioral segmentation by which segmentation are formed based on use of the product or service for a special event or activity, rather than everyday activities.

Occasion

Ratings of TV programs are obtained at a party by signing up household for long-term measurement of their viewing habits. This is an example of :

Panel data

Joint ventures can be a risky entry strategy because ____________. (Check all that apply)

Partners might disagree Governments might place restrictions on the entering firm

A dramatic economic downturn caused by ________ can increase a foreign entrant's risk considerably.

Political instability

______ data is research information collected to address specific research needs.

Primary

Which of the main value components are contained in the value proposition "SportsAde offers serious athletes a great-tasting way to stay hydrated during exercise"?

Product/service category or concept Target market Unique difference/benefits

In a focus group, what kind of data are usually gathered about consumer reactions?

Qualitative Data

________ research provides mathematical information needed to confirm insights, and managers can use it to pursue appropriate courses of action through many types of data collection.

Quantitative

What is a data collection technique that features a document with questions designed to gather information from respondents to attain researcher objectives?

Questionnaire

Developing a questionnaire is considered "part art and part science." Which of the following is a good practice for questionnaire creation?

Questions should be designed to address a specific set of research questions

T/F: Brazil is currently in the top 10 of the worlds largest economies.

T

Elements in a global communication strategy usually need to be _______ to the local market to be effective.

adapted

Researchers assess the value of a project by comparing the ____ of answering some of their questions and the _____ associated with conducting the research.

benefits;costs

A trading bloc comprises __________.

countries that have signed a particular trade agreement

Market positioning involves a process of defining the marketing mix variables so that the target customers:

have a clear, distinctive understanding of the product

Countries with the highest ________ today May lose appeal in the future for many products and services because of stagnated growth.

purchasing power

When you make a purchase at a grocery store, the _____ are often collected by marketing research firms to help understand consumers' purchasing behavior.

scanner data

Direct investment exposes a firm to __________ risk.

significant

Some details used to evaluate the general economic environment include:

the trade deficit or surplus the GDP

Which of the following are franchises?

A Holiday Inn motel A McDonald's restaurant

What analytical tool is used to display, in two dimensions, the locations of products or brands in the consumer's mind?

A perceptual map

____ is the number of people who stop using a service divided by the average number of total participants.

Churn

Benefit segmentation is often effective because it is relatively easy to portray a product's or service's benefits in the firm's _________ strategies.

Communication

"Pork. The other white meat." Is an advertising campaign that promoted pork as a white-meat alternative to chicken or turkey. This is a positioning strategy that focuses on _______.

Competition

Which of the following best describes Russian consumers' attitudes toward U.S. brands?

Consumers show strong demand for U.S. products

A(n) __________ designates the maximum quantities of a product that may be brought into a country during a specific period of time.

Quota

Which of the following are descriptive criteria considered by marketers to evaluate whether a segment is attractive and worth pursuing? (Check all that apply)

Reachable Substantial Identifiable Profitable

Which of the following are major economic factors that firms consider when they conduct an economic analysis of a country market? (Check all that apply)

Real income The general economic environment & the market size and population rate of growth

What analytical method does a firm typically employ to assess the target market and its own competencies?

SWOT analysis

Which positioning method gives primary consideration to the most important attributes of a product for its target market?

Salient attributes

External ____ data are information bits that have already been collected from other sources before the start of a focal research project.

Secondary

What are the three major components of psychographic segmentation?

Self-concept Self-values Lifestyles

_____ is a marketing research method in which customer comments from a variety of social media sites are analyzed, seeking to gain insights into what customers really think.

Sentiment mining

Firms sometimes sponsor online communities, in part for marketing research purposes. Online communities are an example of _____.

Social media

Which of the following statements is true about the Chinese economy?

The retail market of China rivals that of the United States

Which of the following are drawbacks of using in-depth interviews for market research?

They are fairly expensive Data collection is time-consuming

What are the characteristics of structured questions?

They include specific answers to choose from They are closed-ended

Which of the following statements about global population growth between the early 1900s and today are true? (Check all that apply)

Today less-developed countries are experiencing rapid population growth. Rates of population growth are unevenly spread around the world.

The four key elements of a country's infrastructure are:

Transportation, distribution channels, communications, and commerce

For a product such as sugar that will appeal to almost everyone, the firm is most likely to use a(n) _________ targeting strategy.

Undifferentiated

When everyone is considered a potential user of its product, a firm should use a(n) _________ targeting strategy.

Undifferentiated

A focus group interview is a(n) _____ method of inquiry where a trained moderator leads a conversation according to a predetermined outline of the topic of interest.

Unstructured

How is information generally gathered in a survey?

Using a questionnaire

Firms position products based on which of the following? (Check all that apply)

Value proposition Salient attributes Symbols

The term ____ refers to raw numbers that have limited value to marketers on their own.

data

Compared to most available targeting strategies, differentiated targeting is _____.

more expensive

Unstructured questions are _____ questions.

open-ended