mktg quizzes 3,6,7
Which of the following is an example of benefit segmentation?
Colgate-Palmolive markets three types of toothpaste: toothpaste with fluoride to strengthen tooth enamel, toothpaste with whitening properties, and toothpaste for sensitive gums.
Which of the following is an advantage that self-regulatory agencies such as the BBB and the NARB have over governmental laws and regulatory agencies?
Establishment and implementation are usually less expensive.
Mia is pet-sitting for a friend's dog while he is on vacation. Her friend has given Mia all sorts of information, including the veterinarian's name and phone number, pet emergency center location, and the dog's favorite bedtime snack. The first evening of the vacation, Mia realizes that her friend did not bring the dog's food over, and she has no idea what the dog eats. Her friend's cell phone is "out of range" at the moment, so Mia must go to the grocery store and shop for dog food, even though she has never bought it before now. In this case, even though Mia is not a dog owner, she is likely to be part of the market for dog food for all of the following reasons except _______.
Her ability to purchase the dog food is questionable
Month Civilian Unemployment Rate Real Personal Consumption Expenditures (Billions) December 2011 8.5% $10,372.1 June 2012 8.2% $10,493.6 December 2012 7.9% $10,602.4 June 2013 7.5% $10,707.1 December 2013 6.7% $10,844.3 Based on the data, which of the following statements about these economic forces in your marketing environment is true?
Our customers likely had more buying power in June 2013 compared to June 2012.
Budweiser may choose to segment its market based on heavy, moderate, and light drinkers of its alcoholic beverages. This is an example of market segmentation based on
behavioristic variables
Alex Wren of Owens Corning Fiberglass talks to Terry Jones, a homebuilder, to find out how much fiberglass insulation he intends to use in building homes during the next year. Albert then multiplies that number by the total number of builders in the territory. He is using a ____ approach to measure sales potential.
buildup
Seller Company sells small refrigerators. It usually sells these refrigerators to hotels and offices. However, sometimes its customers choose to buy their refrigerators because they do not have a lot of room for a full-size refrigerator in their houses and apartments. Its primary market is the _____________ market, but it also sells to the _____________ market.
business; consumer
In addition to the proliferation of new organic brands, many conventional marketers have introduced organic versions of their products, including Orville Redenbacher, Heinz, and even Walmart. These firms are responding to changes in
cultural values
Angels Kids Spa offers various treatments designed to appeal to the younger customer. Treatment options include manicures, pedicures, facials, tea parties, and dress up photos. Parents can even purchase a birthday party package. Currently, Angels offers its services only to girls under the age of 14. Originally begun in Delaware, Angels is considering opening its spa/salons in other parts of the country and is planning to expand its offerings to girls aged 14 to 17. The company realizes that some changes may be needed. For example, management wants to find out if the older girls will be interested in their birthday party and tea party services. Refer to Scenario 6.1. In calculating the sales forecast for the next year, marketers at Angels use data from the past five years in order to identify any trends that surface. Additionally, marketers want to find out what family variables relate to those sales. Which of the following variables should the marketers use in relating to sales? What type of forecast method will they be using to relate the variables to sales trends?
demographic; regression analysis
GE Transportation produces locomotive engines for sale in countries around the world. After looking at the total market for locomotive engines, the company found that various rail lines wanted different types of engines. Major rail lines in the U.S. and South America wanted engines to haul heavy freight. Rail lines in Sweden and Germany were interested in a cleaner, greener locomotive engine. Rail lines operated by several Eastern European countries wanted locomotive engines for running short distances between cities in their own country. GE Transportation is currently manufacturing its GE 4400 for heavy freight, its Hybrid Eco-Engine, and its Dash 9, suited for short line transport. Refer to Scenario 6.2. GE Transportation is most likely using a(an) ______ targeting strategy, segmenting by ________ variables.
differentiated; benefit expectations
Both the Toyota Sienna and the Nissan Quest were very popular choices for family vans. Toyota noticed that the majority of its customers were families with 3 or more children, and so they developed commercials that featured larger families. They also produced commercials that featured Hispanic-looking actors and for some markets, in Spanish. Alicia Desario and her husband were currently shopping for a van for their family. As Alicia listened to an advertisement on the television about the Nissan Quest, she noticed that the Nissan cost about $27,000 and had gas mileage of about 17 mpg. She recalled an earlier ad for the Toyota Sienna, which also cost about $27,000, but had gas mileage of about 21 mpg. She also liked the way the family was portrayed in the Toyota ad, showing the children in the back seats having plenty of room, watching the DVD players, and having their own sound controls. When she spoke to Carlos, her husband, about how much she liked the Toyota van, he replied that its gas mileage was too low at only 16 mpg. Since Alicia didn't agree with that number, he produced a magazine ad that supported his claim of the 16 mpg for the Toyota. Alicia couldn't believe that she had made such an error in hearing what the gas mileage was for the Toyota and the Nissan. Refer to Scenario 7.2. Since Alicia and Carlos were using gas mileage as one of their evaluative criteria, they are most likely in the ____ phase of the consumer buying process.
evaluation of alternatives
Mark is shopping for a new suit to wear to an important interview. He really wants to impress his prospective employer and is shopping at many stores to find the right outfit. Martin is using which type of consumer decision-making process?
extended decision making
All of the following are marketer-dominated sources of information except
friends
During the evaluation of alternatives stage of the consumer buying decision process, framing most likely influences the decision process of ____ buyers.
inexperienced
n the process of perception, individuals receive sensations through sight, sound, taste, smell, and hearing. These sensations are called
information inputs
Lori went to Sam's Wholesale Club to shop for a party she was hosting on the weekend. She knew that she could buy larger quantities of food items than she normally did, and they would also be much less expensive. She checked everything off her list and proceeded to the checkout lines. Passing a display of fresh flowers, she thought, "Wouldn't those be nice for the party?" She selected one of the bouquets and placed it in her cart. Tori has most likely engaged in ______ when selecting the food for her party, and ____ when selecting the flowers.
limited decision making; impulse buying
GE Transportation produces locomotive engines for sale in countries around the world. After looking at the total market for locomotive engines, the company found that various rail lines wanted different types of engines. Major rail lines in the U.S. and South America wanted engines to haul heavy freight. Rail lines in Sweden and Germany were interested in a cleaner, greener locomotive engine. Rail lines operated by several Eastern European countries wanted locomotive engines for running short distances between cities in their own country. GE Transportation is currently manufacturing its GE 4400 for heavy freight, its Hybrid Eco-Engine, and its Dash 9, suited for short line transport. Refer to Scenario 6.2. Currently, GE uses several sales forecasting methods. One method is to sell the different locomotive engines to buyers in different countries, and then measure the purchasing response in each. In this case, GE Transportation is using the _____ method to forecast future sales.
market test
The type of competitive structure that exists in the case where there are almost no substitutes for a product is a(n)
monopoly
Melanie prefers to shop at Target for most of her household needs even though the same products and brands are available at Kmart. She prefers the service, location, and friendliness of the employees at Target. Melanie's reasons that influence her decision to shop at Target are called
patronage motives
he undifferentiated targeting strategy for finding a target market will likely not be successful if
people within the market have heterogeneous needs
international Office Supplies Wholesaler charges different prices to its various customers without any legal justification. This company is in violation of the
robinson-patman act
Logan loves Chipotle Mexican Grill. He views it as being socially responsible and loves the food. The other day he read in the paper that several people got sick from E. coli from Chipotle Mexican Grill restaurants. The article also detailed safety measures Chipotle was instituting to prevent this from happening again. Logan would expect nothing less from Chipotle. He feels confident that Chipotle will institute highly effective safety measures. This is most likely an example of ______________.
selective retention
The fact that technology acts as a catalyst to spur even faster development is referred to as
self sustaining
If all the gas stations in a city collaborated to determine what gas prices should be charged, they would be violating the
sherman anti trust act
Both the Toyota Sienna and the Nissan Quest were very popular choices for family vans. Toyota noticed that the majority of its customers were families with 3 or more children, and so they developed commercials that featured larger families. They also produced commercials that featured Hispanic-looking actors and for some markets, in Spanish. Alicia Desario and her husband were currently shopping for a van for their family. As Alicia listened to an advertisement on the television about the Nissan Quest, she noticed that the Nissan cost about $27,000 and had gas mileage of about 17 mpg. She recalled an earlier ad for the Toyota Sienna, which also cost about $27,000, but had gas mileage of about 21 mpg. She also liked the way the family was portrayed in the Toyota ad, showing the children in the back seats having plenty of room, watching the DVD players, and having their own sound controls. When she spoke to Carlos, her husband, about how much she liked the Toyota van, he replied that its gas mileage was too low at only 16 mpg. Since Alicia didn't agree with that number, he produced a magazine ad that supported his claim of the 16 mpg for the Toyota. Alicia couldn't believe that she had made such an error in hearing what the gas mileage was for the Toyota and the Nissan. Refer to Scenario 7.2. Toyota's production of commercials that featured Hispanic actors and the Spanish language is an example of marketing to
subcultures
Scenario 3.4 Bank of America is interested in helping people understand their money and how to build Better Money Habits™. They are working to connect customers, clients, employees, and communities to the tools, products, and education they need to help make their financial lives better. The Bank of America has partnered with Khan Academy to launch BetterMoneyHabits.com where free content is available to anyone via a self-paced learning experience to explain the complex concepts of financial matters. The partnership between Bank of America and Khan Academy to provide financial literacy through the website BetterMoneyHabits.com reflects the importance of ______ as an environmental factor.
technology
Which of the following variables would most likely be used to segment a business market?
the geographic location of the company
When a firm continues to violate what the Better Business Bureau believes to be good business practices, what is one of the main actions the bureau will take?
warn consumers of the unfair practices
In the consumer buying decision process, the information search stage
yields a group of brands that a buyer views as possible alternatives.