TEST MIDTERMS MARKETIGN

Select the statement that accurately defines a consumer want.

A consumer want is something a consumer would like to have but does not need for survival.

A quality marketing objective that is motivational and attainable is considered

A quality marketing objective that is motivational and attainable is considered

Read the following statements to select the choice that is not true of market segmentation.

Market segmentation identifies which products will be profitable and which ones are not worth pursuing.

Which of the following is true of primary data?

Primary data are collected specifically for the research problem at hand.

Select the statement that best describes the relationship between product excellence and consumer perception.

Product excellence is determined by a consumer's perception of the product's value and quality.

Ethics are moral standards expected by

a society.

Read with Us is a local bookstore and café that just received a big box of donations filled with titles such as Winnie the Pooh, Curious George, Harold and the Purple Crayon, and Horton Hears a Who. Which demographic variable should the bookstore consider when it organizes these books for its market?

age

What type of targeting strategy works with uniform products for which the firm can develop a single marketing mix that satisfies the needs of all customers?

an undifferentiated targeting strategy

You finally decided to purchase an e-reader and selected the Amazon Kindle. After returning home, you see an advertisement for the Barnes and Noble Nook and now are wondering if you made the right decision. This is an example of

cognitive dissonance.

The Fantastically Fit health club has just opened a new location in your neighborhood. The club has mailed a flyer to all households in the area that contains information about the club and a coupon for a one-month free membership. In doing so, Fantastically Fit is MOST LIKELY attempting to

communicate value.

Which of the following contains an example of an independent variable that cannot be manipulated by researchers?

customers' ages

Which of the following would be considered secondary data for research on how to improve the sales of an existing product?

data from the Census Bureau website

An auto insurance company segmented its market by both gender and age and designed different marketing campaigns to appeal to both. In the end, both segments responded the same to the different marketing strategies, in part, because both segments are required to have auto insurance. In the future, in order for the company to make sure its segmentation strategy is successful, it must make sure that its market segments are

differentiable.

A fitness gear shop that typically sells workout clothes and running shoes has begun selling cell phone and tablet cases in the attempt to capitalize on its visual brand. This strategy exemplifies

diversification

Molly recently purchased a locket from Memories-and-More. Molly did extensive research before purchasing this specific locket and found that it was fairly common, valuable, and easily replaceable. It can be said that Molly's locket has a sustainable competitive advantage.

false

Consumer tastes for everything change from time to time, which is why it is important to constantly evaluate customer ________ when deciding how to best position a product.

feedback

Franchising provides a franchisee the right to use its name and marketing and operational support in exchange for a fee and, typically, a share of the profits. Another advantage is that

franchisees assume the majority of the capital costs and human resource issues.

Levi found an antique violin at a garage sale for a great price and bought it. In making this purchase, Levi was

fulfilling a consumer want.

Fields & Greens is a farm-to-table restaurant that uses only locally sourced ingredients. It supports its local economy and gives back to the community by employing only those who live in or near town and by partnering with small, family-owned farms in the area. Through this strategy, Fields & Greens is appealing to its market segment's sense of

ideals

Ethical standards are important to the marketing research industry because they help gain the trust of consumers. Without that trust,

individuals will be less willing to participate in research.

The combination of activities that represent everything a firm can do to influence demand for its good, service or idea is referred to as the marketing

mix

Once a firm identifies a segment, the firm

must use data to determine whether it should be pursued.

How often should firms undertake the task of strategic planning?

on a continual basis as conditions change

Joanna and Chip Gaines previously hosted an HGTV reality show called Fixer Upper. If they agreed to endorse a specific brand of light fixtures, they might influence a large number of people to buy these fixtures because they are considered knowledgeable about the product. This is an example of

opinion leadership.

A(n) ________ is a competitive analysis tool that creates a visual picture of where products are located in consumers' minds.

perceptual map

Which two dimensions are measured by the VALS framework?

primary motivation and resources

Which of the following statements represents a purchase decision?

It's been a long day and you do not want to cook dinner; you decide to order take-out.

When the makers of V8 vegetable juice noticed that sales of its original product were stabilizing, they decided to offer a new product, one that offered a full serving of vegetables and a full serving of fruit. They called the product V8 V-Fusion and they marketed it to their original V8 customers in hopes of increasing sales. This is an example of what kind of marketing strategy?

product development

When people think of what marketing entails, they typically think about the element of

promotion.

What is the key to creating value?

providing consumers with benefits that meet their needs and wants

Which of the following describes why milk would be considered a product purchased using routine problem solving?

regularly purchased, low-level involvement, high purchase experience

A direct ownership is the best strategic option when a firm sees substantial sales potential in an international market, very little political risk, and

similarities between the foreign and domestic cultures.

What is one way a company attempts to reposition the competition rather than itself?

Launch a promotional campaign that characterizes the competition in a negative light.

Of the various categories of business-to-business buying situations, which one do B2B marketers prefer?

straight rebuy

The market segment criterion stating that market segments must be large enough for the firm to make a profit by serving them is

substantial.

Patagonia, a California-based clothing company, is deeply committed to the environment. The company makes fleece jackets out of recycled bottles, uses solar panels to generate most of the electricity at its headquarters, and even tells its customers in its advertisements to think twice before buying anything, all in an effort to reduce its carbon footprint. This is an example of how Patagonia is engaged in

sustainable marketing.

After Franklin opened up his new sports bar/restaurant, he determined that students from the nearby college campus will provide him with the best opportunity to maximize sales, so he is concentrating his marketing efforts on this group, which will be his

target market.

When marketers segment consumer groups based on psychographics, they are relying on

the reason the consumer made the purchase.

Which of the following statements about the relationship between marketing research and marketing analytics is accurate?

Marketing research and marketing analytics work in conjunction with each other.

Which statement about the psychological influence of motivation is true?

Motivation is the inward drive people have to get what they need or want.

Which of the following include some key factors for creating an environment for maximum performance?

leadership, adequate resources, clear company objectives, nonconflicting relationships

In today's tough job environment, it is important to know how to ________ yourself effectively in order to reach the professional goals you have set.

market

It has been Shelly's dream to open a bakery, and while she has experience in making all types of baked goods, she always gets rave reviews for her hand-decorated cupcakes. So, rather than open a bakery that offers a wide variety of baked goods, Shelly has decided to open a specialty cupcake shop to cater to that market only. This is an example of

market segmentation.

Market penetration, product development, market development, and diversification are all examples of

marketing growth strategies.

Marketers must pay careful attention to consumers' buying behavior, especially during the early stages of the consumer decision-making process. Firms are less likely to make a profit with customers that do not recognize a need or a problem because

they are unlikely to complete subsequent steps of the buying process.

Which of the following is an example of external secondary data?

trade publication

A customer can walk into a McDonald's in India and order a vegetarian sandwich called the McPaneer Royale. This item, unique to this market, was created to appeal to India's largely vegetarian market and is a good example of the effects of globalization.

true

A maker of high-performance fitness monitors risks losing domestic market share if it doesn't market globally like its main competitors—this exemplifies a global marketing decision based on necessity. However, if this same maker markets globally in order to accommodate the need of business travelers seeking to track their fitness while on the road, this would exemplify a global marketing decision based on demand.

true

When consumers decide to purchase sustainable goods and services because they support efforts that benefit the environment, society, and the economy—they are responding to their personal

values

The job of marketers is to focus on providing products that fulfill customers' ________, which in turn will satisfy their underlying ________.

wants; needs