Practice Exam #2

Cognitive distance

After purchasing a new Lexus, Brandon sees an Infinity pass by on the street and begins to wonder if he made the right choice. Brandon is experiencing

balance of trade

Corporate executives often prefer marketing research findings to be put into a report

Privacy issues

1. Johnny is a high school senior and plans to attend college after graduation. Johnny enjoys playing computer games such as League of Legends and hopes to pursue a career in computer game design. He's taking computer programming classes in high school, and his teacher has been discussing recent issues related to consumer _______ and concerns that the Federal Trade Commission may develop regulations that would provide additional protection to consumers by limiting the amount of consumer information that businesses can gather online.

Level of involvement

A major determining factor in deciding which type of decision-making process should be used depends on the individual's intensity of interest in a product and the importance of the product for that person. This is known as an individual's

Database

A(n) ____ is a collection of information arranged for easy access and retrieval.

Trading Company

A(n) ____ is an organization that links buyers and sellers in different countries but is not involved in manufacturing.

Interpretation

Assignment of meaning to organized information inputs is called

Marketing Information System

Bart's Appliance Center owner Ron Bart feels that his organization has access to a great deal of information generated both inside and outside the firm, but much of this information is presently going to waste. Apparently, Bart needs to develop a

Extended

Beth Hines is buying furniture for her apartment for the first time. She is spending considerable time and effort comparing the products that different stores offer. Which type of decision-making process is she using?

Attitudes

Cognitive, affective, and behavioral are the three major components of

Podcasts

Due to increasing consumer demand, many television networks are creating ____ of their shows.

Address-ability

Due to the use of cookies, many websites are able to track visitors when they return to their websites. This helps them track how often the visitor views the website and in what products he or she shows an interest. Some websites have capitalized on this by providing product recommendations to users when they return to their websites based on their past activity. This is an example of

Inexperienced

During the evaluation of alternatives stage of the consumer buying decision process, framing most likely influences the decision process of ____ buyers.

Exporting

Henderson Synthetics is a producer of chemical products aimed at increasing agricultural yield per acre. Henderson Synthetics' management believes that several of the firm's products could have sizable markets in other countries; however, it is costly to obtain market research to confirm this. If Henderson Synthetics wanted to temporarily "try out" these international markets with a minimal level of commitment and cost, it should use

Market Segments

Individuals, groups, or organizations with one or more similar characteristics that cause them to have similar product needs are classified as

Physiological

Jana now feels that her teeth are not white enough after seeing advertisements for whitening toothpaste. Marketers promote these brands based on ____ needs, appealing to sex appeal.

Market Density

Many marketers are concerned about the number of potential customers within a certain area of land because of the different requirements to serve dissimilar areas. What is this segmentation variable called?

Not currently available to decision makers

Marketing research is a process designed to gather information

becomes aware that there is a difference between a desired state and an actual condition

Problem recognition occurs when a consumer

Differentiated

Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) ____ targeting strategy for laundry detergents.

Sales forecast

Starbucks will spend $2 million marketing its newest latte drink. It expects to sell 15 million of these lattes over the next year. These 15 million lattes are a _____________ for Starbucks.

Avatar

Redbox has established outlets in the simulated environment of Second Life. Your ____ is able to rent a movie from a Redbox.

Market potential

Refer to Scenario 6.2. Researchers at GE Transportation estimate that 1,000 rail lines throughout the world will purchase some kind of locomotive engine next year. That number represents the

Selective retention

Refer to Scenario 7.1. A dissatisfied Skola's Auto Repair customer told a friend about his experience. The friend has been a long-time Skola's customer and the next day, didn't remember what he told her. This is an example of

The executive has considerable experience and product demand is relatively stable

Relying on executive judgment for forecasting may be adequate when

Descriptive

Research that is conducted to clarify the characteristics of certain phenomena to solve a particular problem is called ____ research.

admitting only certain inputs into consciousness

Selective exposure refers to

Wikis

Some companies use ____ as internal tools for teams working on a project requiring lots of documentation.

Strategic alliances

Sometimes business partnerships are formed between traditional rivals competing for market share in the same product class. These partnerships are known as

Has taken on many of the values, attitudes, or behaviors of group members

Stuart's little brother Kyle joined the Boy Scouts recently. Stuart notices that in addition to wearing the Boy Scout uniform, Kyle has been better about keeping his everyday clothes neat and clean, has been searching online for camping gear, and has become interested in "green" products. Stuart believes that the Boy Scouts are now a reference group for Kyle because he

External Secondary

Subscription services from firms such as ACNielsen provide marketing researchers with a good source of ____ data.

Differentiated

Sysco distributes food to restaurants, healthcare facilities, hotels, and schools, among other businesses. What type of targeting strategy would it most likely adopt?

that is clear, short and simply expressed

The ____ is the difference in value between a nation's exports and its imports.

Sales forecast

The amount of product a company expects to sell during a specific period at a specified level of marketing activity is called the

An overall measure of a nation's economic standing

The gross domestic product is

Products sold in foreign countries at unfairly low prices

The term dumping refers to the sale of

Information search

Tiffany is a purchasing manager of computer and software equipment for her company, which employs about 350 individuals. She subscribes to PC Magazine and several other trade publications that review computer hardware and software. In addition, Tiffany is an active user of online forums and often reads reviews that other purchasing managers post about different computer models. Tiffany spends about 1-2 hours each week reviewing information through these sources before making purchasing decisions. What stage of the consumer decision process is Tiffany most likely in?

Undifferentiated strategy, the concentrated strategy, and differentiated strategy

To find a target market, a firm can use one of these targeting strategies

Expert forecasting survey

When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n)

Consideration

When shopping for detergent, Josh looks at Tide, Fresh Start, Surf, and All and chooses the one that is on sale. These four brands make up his ____ set.

African Americans

Which American subculture spends the highest proportion of its income on phone services, children's clothing, and shoes?

Shoplifting

Which of the following is an example of consumer misbehavior?

The large number of people or organizations

Which of the following is not a requirement or characteristic of a market?

Legos

Which of the following products is most likely to have its market segment based on age?

Online surveys

Which of the following survey methods has the potential to offer quick response at a lower cost than traditional mail and telephone surveys?

You developed your company's e-marketing strategy

You have just completed a two-day offsite meeting with your marketing team. During the meeting, you solidified your company's strategy for distributing, promoting, and pricing products, and understanding the needs and desires of your customers by utilizing digital media marketing tactics. Which of the following statements best describes what you just accomplished?

homogeneous; undifferentiated

Your marketing team is having a brainstorming session to finalize your target marketing strategy. To make sure all team members are on the same page, you make the following statement to keep the discussions focused: If we determine that the needs of the customers we are targeting are ______________, then we need to pursue a _______________ targeting strategy.

Collectors

____ are people who gather information and organize content generated by critics and creators.

Connectivity

____ involves the use of digital networks to provide linkages between information providers and users.

Control

____ refers to customers' ability to regulate the information they view and the rate and sequence of their exposure to that information.