MKTG Exam 2 (Questions)

as a retailer, Walgreens has developed its own line of product with the brand name Nice! These products are sold exclusively in Walgreens stores and are an example of

-private label brands

the name, term, symbol, design, or any combination of these that a firm uses to identify and differentiate its products is its

brand

shell gas stations use an image of a yellow and red seashell on its signs. In marketing terms, what does this represent for shell?

brand mark

gathering data about what competitors are doing in the marketplace is called

competitive intelligence

the fact that you see a McDonalds on practically every highway exit sign listing restaurant choices would indicate that McDonald's is most likely geographically segmenting based on

customer convenience

in order to build a successful brand, companies should...

deliver a product that provides value

Buying a house is an example of a ____ decision.

high involvement

behavioral segmentation divides consumer according to

how consumers behave with or act towards products

Company's sale records, customer support records, and sales force reports are all forms of

internal data

The type of information search that uses prior experience is called?

internal search

the process of dividing a larger market into smaller groups based on meaningfully shared characteristics is referred to as:

market segmentation

Maslow's Hierarchy is based on what type of psychological influence?

motivation

cannibalization occurs when...

new products take sales away from the firm's existing products rather than generating additional revenues

A firm marketing its product in the United States and abroad may have to tweak the product for its international customers and as such may have to market it differently. What type of targeting strategy would work best for this situation?

niche marketing

Which step in the marketing research process includes setting specific, measurable research objectives?

problem definition

to be effective market segmentation should create market segments that rate favorably on various criteria. specifically, market segmentation should create market segments that are measurable, differentiable, accessible,e actionable, and

sustainable

How many stages are there in a consumer decision making process?

5

a well conducted and presented marketing research report should allow the marketing manager to solve the problem

True

To be successful, brand messaging should...

be consistent and concise