BCOR 3040 : Midterm 2
The customer relationship management (CRM) cycle _______. a. allows companies to identify their most profitable customers b. only involves identifying customer relationships c. starts by identifying the most profitable customers d. assumes all customers are equally profitable to the company
allows companies to identify their most profitable customers
At which step in the marketing research process do you interpret and draw conclusions from the information you've collected? a. Specify the sampling procedures b. Analyze the data c. Prepare and present the report d. Follow up
analyze the data
Ayana was watching an episode of The Bachelor with her mom. During one of the commercial breaks, an advertisement for Mr. Clean airs showing a woman watching a muscular and sexy animated Mr. Clean who is cleaning around the house. This advertisement is most likely trying to create _______ in the mind of the consumer. a. desire b. action c. attention d. interest
attention
What type of failure has occurred when a new-product introduction loses money for the company when accounting for development, marketing, and production costs? a. Absolute failure b. Strategic failure c. Relative failure d. Predictive failure
absolute failure
Nia was recently shopping at Meijer grocery store, and a store employee was offering product samples of a new potato chip flavor. The employee also directed Nia to the location in a store aisle near her where Nia could purchase a bag of the chips for just $2.99. According to the AIDA concept, the store employee was trying to stimulate _______. a. attention b. action c. desire d. interest
action
Products that supplement a firm's established product line would be considered _______. a. lower priced products b. additions to existing product lines c. repositioned products d. new product line
additions to existing product lines
Test marketing a product happens _______. a. after commercialization b. before idea screening c. before defining new-product strategy d. after development
after development
According to the text, competitive intelligence becomes decision-making intelligence _______. a. when it leads to analyzed information b. when it involves environmental scanning c. when it has implications for the organization d. when it is collected
when it has implications for the organization
Which of the following is not a trend that will lead to the continuing growth of CRM as a targeting tool? a. Cost savings b. Loyalty c. Personalization d. Technology
cost savings
Which of the following products is more likely to be diffused quickly? a. A product whose benefits are hard to observe or communicate b. A product that is very complex c. A product that is easy to try on a limited basis d. A product that is essentially the same as existing substitutes
A product that is easy to try on a limited basis
One 30-second advertisement shown during the Super Bowl football game typically costs over $5 million. Due to its high cost, which of the following companies would be most likely to place an advertisement during the Super Bowl? a. Ben & Jerry's Ice Cream, a nationally distributed product b. South Haven Estates, a retirement center in Florida c. The Garlic Press, a locally owned gift store d. Fiesta Ranchero, a Mexican restaurant chain with 5 locations
Ben & Jerry's Ice Cream, a nationally distributed product
Pasua is an Amazon Prime member who appreciates the convenience and flexibility of ordering products from Amazon. She typically shops using the Amazon app on her phone. Pasua is always amazed how Amazon's suggestions of products she might like are so on-point. She frequently purchases one or more of Amazon's "recommended for you" items as impulse purchases. Amazon is using _______ as a targeting tool based on its ability to track interactions with customers. a. computer-assisted marketing (CAM) b. customer feedback marketing (CFM) c. customer relationship management (CRM) d. automated intelligence management (AIM)
CRM
Which of the following statements is true regarding trends that are leading to the continued growth of customer relationship management as a tool for targeted marketing strategies? a. Mass-media advertising will increase in importance as marketers utilize technology to gather detailed information about their customers. b. Consumers will demonstrate loyalty to companies and brands that have earned their loyalty and that reinforce that loyalty at every purchase occasion. c. Consumers have more time than ever before to conduct information search prior to purchasing products or services. d. One-size-fits-all marketing is appropriate for most consumer goods.
Consumers will demonstrate loyalty to companies and brands that have earned their loyalty and that reinforce that loyalty at every purchase occasion.
Misaka is a social media manager for a family-owned restaurant. The owner has shared with her the overall marketing objectives for the restaurant. What should Misaka do with this information? a. Determine which social media outlets are most appropriate for the restaurant b. Allocate the firm's marketing budget to specific social media outlets c. Identify potential influencers who could help promote the restaurant d. Develop a social media promotional plan consistent with the overall objectives
Develop a social media promotional plan consistent with the overall objectives
Which of the following will most likely contribute to the failure of a product? (Select three) a. Superior product when compared to alternatives b. Inadequate distribution c. Inferior product when compared to alternatives d. Massive and expansive distribution e. Poor marketing
Inadequate distribution, Inferior product when compared to alternatives, Poor marketing
Which of the following will most likely contribute to the failure of a product? (Select three) a. Inferior product when compared to alternatives b. Poor marketing c. Massive and expansive distribution d. Inadequate distribution e. Superior product when compared to alternatives
Inferior product when compared to alternatives, poor marketing, inadequate distribution
There are pros and cons to test marketing. Which of the following is true about test marketing? a. It can be expensive and take a long time. b. It's riskier than a full nationwide launch. c. It keeps competitors from knowing about your potential new products. d. It simplifies business operations.
It can be expensive and take a long time
Which of the following are characteristics of mobile research? (Select three) a. Higher cost b. Richer content collection c. Increased response rates d. Immediate feedback e. Narrower reach
Richer content collection, Increased response rates, Immediate feedback
Francesca is a media buyer with an advertising agency. She recently met with a client who was primarily interested in connecting with current and prospective customers using social media channels such as Facebook, Instagram, Pinterest, and Twitter. Which of the following is true about digital advertising? a. Spending on digital advertising now exceeds spending on advertising through traditional media. b. Consumers are more concerned about violations of privacy with traditional advertising than digital media. c. Digital advertising is considered personal paid communication. d. The cost per contact of digital advertising is higher than traditional advertising.
Spending on digital advertising now exceeds spending on advertising through traditional media
Which of the following statements regarding market segmentation is true? a. There are no scientific procedures for selecting appropriate segmentation variables when choosing a basis for segmenting the market. b. The first step in segmenting a market is to select segmentation descriptors. c. A successful segmentation scheme must produce segments that meet the five basic criteria for market segmentation. d. The final step in the market segmentation process involves selecting markets.
There are no scientific procedures for selecting appropriate segmentation variables when choosing a basis for segmenting the market.
Yasmin works for Bath & Body Works as a category manager. She is interested in identifying the types of products that are typically purchased as gifts, as well as determining how much Loyalty Rewards Members typically spend on gifts. She consults with a database specialist at the company and learns that, unfortunately, this information is not available as part of the information captured related to transactions or purchase history, because Bath & Body Works is not currently capturing whether the purchase was for the customer or a gift. Yasmin has encountered a common disadvantage related to secondary data. Which of the following best characterizes the disadvantage related to Yasmin's research problem? a. Data quality is questionable. b. The data are out-of-date, old, and no longer applicable. c. There is a mismatch between the researcher's unique problem and the purpose for which the secondary data were originally gathered. d. Data are readily available to save time and money.
There is a mismatch between the researcher's unique problem and the purpose for which the secondary data were originally gathered.
Jorge is building a new home and will be selecting all new kitchen appliances. He and his wife, Mariana, will most likely be influenced by _______ when making their purchase decision since it is a complex decision. a. a salesperson b. sales promotion c. advertising d. social media
a salesperson
LUVS is a diaper brand. It recently aired a television commercial showing how differently a mom approaches parenting with her first child compared to her second child. The spot ends by saying that parents of their second child are more likely to choose LUVS. A brief product demonstration is shown to prove that LUVS has superior leakage protection compared to competing brands. By demonstrating how LUVS is the better diaper, it is attempting to stimulate _______ based on the AIDA concept. a. attention b. desire c. action d. interest
attention?
The decision to market a product is called _______. a. commercialization b. test marketing c. business analysis d. new-product strategy
commercialization
Pranav is considering purchasing a new automobile. He is trying to decide between two brands-Lexus and BMW. Both are high quality, but he's heard that customers prefer Lexus due to its primary _________ that the driver is in a cocoon-like atmosphere and doesn't feel or hear any road noise. a. distinctive feature b. salient attribute c. competitive advantage d. primary characteristic
competitive advantage
Sherwin-Williams operates retail outlets that provide paint and supplies to end-user consumers or the "do-it-yourself" market, as well as to painting contractors in the commercial sector. In addition, each store has outside sales representatives who work with facility managers and who will ideally gain their commitments to purchase paint from Sherwin-Williams. The paint industry is very competitive, and Sherwin-Williams competes with a variety of other retail outlets specializing in paint, as well as big box stores such as Menards or Lowe's. Recently, Sherwin-Williams used a web-based survey to identify consumer perceptions of the Sherwin-Williams brand in comparison to other brands. This resulted in consumer insights about how Sherwin-Williams compares to other key brands or competitors. Sherwin-Williams plans to utilize these insights to improve its products, store offerings, and services to enhance customer satisfaction and loyalty. The information provided by this research endeavor is an example of _______. a. scanner-based data b. experimental research c. observation research d. competitive intelligence
competitive intelligence
LUS Brands is based in Canada. The company was founded by Sahar Saidi, who is the ultimate "curly girl." Over the years, she had tried every hair care product on the market for curly hair and was always disappointed. She decided to create her own formula. After years of research and development, Sahar created shampoo, conditioner, and styling cream for women with curly hair. LUS Brands is using a(n) _______ targeting strategy. a. customized b. concentrated c. multisegment d. undifferentiated
concentrated
An advantage of the _______ strategy is the firm may have a competitive advantage over other firms trying to reach multiple markets. a. concentrated targeting b. multisegment targeting c. undifferentiated targeting d. mass marketing
concentrated targeting
Hugo is celebrating his thirtieth birthday and decides to create a birthday fundraiser on Facebook. Hugo recently noticed that the National Football League (NFL) is a major sponsor of the Wounded Warrior Project. Since Hugo enjoys watching NFL games, he decides to post a birthday fundraiser on Facebook to support the Wounded Warrior Project. This is an example of a promotion designed to _______ the target audience. a. connect with b. inform c. remind d. persuade
connect with
Riko is a marketing director with Uniqlo, a fashion brand based in Japan. She is interested in gathering shoppers' perceptions of the brand and its stores, as well as identifying how Uniqlo compares to its competition. She is reviewing proposals to obtain feedback from 1,000 customers. One firm recommends using a web-based survey that will cost $50 per completed survey. A second firm recommends telephone surveys costing $100 per completed survey, and a third firm proposes mobile research at $25 per completed survey. Riko is surprised to see that mobile research offers the advantage of _______. a. increased convenience b. immediate feedback c. broader demographic reach d. cost savings
cost savings
In order to maximize profits for a new product, marketers will ideally _______. a. assume that regulatory environments are the same worldwide b. engineer the products in a way that is hard to modify c. create products that require little or no modification when sold globally d. customize the product for each different market
create products that require little or no modification when sold globally
L'Oréal, a beauty brand, offers a variety of powders and liquid foundation for women with different skin tones. The company's website offers guidance to women to help them assess their skin color—from fair, porcelain skin to a deep, dark complexion. L'Oréal is utilizing _______ segmentation by offering a range of products to meet the needs of all women and diverse ethnic backgrounds. a. geographic b. demographic c. benefit d. psychographic
demographic
Rogers and Hollands, a jewelry store chain, is often based in shopping centers. The chain primarily promotes engagement rings and wedding bands to couples who are seeking rings as an outward sign of their relationship commitments. This is an exciting time for couples, and Rogers and Hollands enjoys working with couples to find just the right ring to fit their budgets and style preferences. The focus of Rogers and Hollands on the engagement and wedding ring market exemplifies its use of _______ segmentation. a. benefits b. demographic c. psychographic d. geographic
demographic
The Pew Research Center recently published a report that noted that the majority of American workers are employed in the service sector. Specifically, "Among the major service-industry sectors, the biggest was trade, transportation, and utilities (27.8 million workers), followed by education and health services (24.3 million), professional and business services (21.5 million), and leisure and hospitality (16.7 million)." This is an example of the _______ role of marketing research. a. diagnostic b. descriptive c. exploratory d. predictive
descriptive
A graph showing historical sales trends for the company would be an example of ______, while a three-year sales projection for a product the company is about to launch would be _______. a. predictive research; diagnostic research b. descriptive research; predictive research c. diagnostic research; descriptive research d. descriptive research; diagnostic research
descriptive research; predictive research
Because product development can be time consuming and expensive, companies want to _______. a. develop products that are marketable worldwide b. develop products that require expensive modifications c. develop products that disregard the regulatory environment in different countries d. develop unique and specific products for each market, regardless of market size
develop products that are marketable worldwide
Because product development can be time consuming and expensive, companies want to _______. a. develop products that are marketable worldwide b. develop unique and specific products for each market, regardless of market size c. develop products that disregard the regulatory environment in different countries d. develop products that require expensive modifications
develop products that are marketable worldwide
Products that look promising after the business analysis stage of product development then proceed to the _______. a. commercialization stage b. new-product strategy stage c. idea screening stage d. development stage
development stage
A few years ago, people everywhere were participating in the Ice Bucket Challenge. The challenge promoted awareness of the disease amyotrophic lateral sclerosis (ALS) and encouraged donations to research. People would post a video of themselves dumping a bucket of ice water over their head or another person's head. The challenge led to $114 million in contributions to ALS research in August of 2014 and over 17 million participated in the challenge around the world. This is an example of _______ media. a. earned b. owned c. promotional d. paid
earned
Marketing research may not be needed if you are _______. a. planning an expensive and high-risk product launch b. creating an entirely new product category c. entering a stable market that is well-understood by the company d. entering a new market
entering a stable market that is well-understood by the company
A variety of factors can affect the accuracy of forecasts during business analysis. For example, __________ markets like soft drinks are easier to forecast. But forecasting the size of ______________ markets is more of a challenge.
established, new or niche
Albertsons operates more than 400 grocery store locations across the country. The chain is interested in determining the category of product that is best suited to promotions at end-of-aisle displays. Albertsons selects 25 stores in different geographic areas and varies the types of products it features for two different end-of-aisle displays in each store. Albertsons measures the sales for each product category tested and compares the sales during the end-of-aisle display promotion to the baseline sales. Using this comparison, Albertsons can determine whether any change in sales was observed as a result of the promotion. Which type of research method did Albertson's use? a. Secondary data b. Observation research c. Experiment d. Scanner data
experiment
Maria follows a boutique on Facebook that routinely features live sessions of new releases. The boutique informs customers that there are a limited number of items available. Maria placed an order for an item that was recently featured. According to the communication process, this is known as _______. a. distraction b. encoding c. decoding d. feedback
feedback
Demographic segmentation uses which of the following bases? (Select three) a. Gender b. Personality c. Region d. Family Life Cycle e. Income
gender, family life cycle, income
Eddie Bauer has 275 store locations across the United States. It utilizes a sophisticated, data-driven approach to identifying the styles and selections that each of the stores will offer, dividing the country into eight distinct regions such as the west coast, west north central, east north central, and south Atlantic. Each region contains two or more states; for example, the west south-central region includes Texas, Oklahoma, Arkansas, and Louisiana. Eddie Bauer believes each state within a region is relatively similar in terms of climate, so the chain can determine styles that are best suited to those temperatures and weather patterns. For example, those living in the northeast or midwest would have a greater need for winter parkas than consumers in the west or east south-central regions. Based on this example, Eddie Bauer is using _______ segmentation. a. benefit b. psychographic c. geographic d. demographic
geographic
If a company wishes to better compete on price and service, it should consider segmenting its business market on which basis? a. Type of company b. Geographic location c. Company size d. Product use
geographic location
The stage of the PLC where companies focus on increased distribution among wholesalers and retailers is the _______. a. introductory stage b. decline stage c. growth stage d. maturity stage
growth stage
The stage of the product life cycle (PLC) where profits peak is the _______. a. introductory stage b. maturity stage c. growth stage d. decline stage
growth stage
The stage of the product life cycle (PLC) where profits peak is the _______. a. maturity stage b. introductory stage c. growth stage d. decline stage
growth stage
After ideas have been generated, the next step in the product development process is _______. a. test marketing b. commercialization c. new-product strategy d. idea screeningTest marketing a product happens _______.a. after commercializationb. before idea screeningc. before defining new-product strategyd. after development
idea screening
In the business analysis stage, _______. a. ideas are generated from a variety of sources, such as customers and distributors b. ideas are screened for fit with the organization's new-product strategy c. ideas are evaluated by projecting cost, sales, and profitability d. ideas are commercialized
ideas are evaluated by projecting cost, sales, and profitability
A market segment is _______ if marketers can distinguish who is in the segment through demographic information or geographic location. a. accessible b. responsive c. identifiable d. substantial
identifiable
A market segment is _______ if marketers can distinguish who is in the segment through demographic information or geographic location. a. identifiable b. responsive c. substantial d. accessible
identifiable
American Eagle Outfitters offers its own credit card and encourages shoppers to apply for a card by offering a 15 percent one-time discount when they open an account. Thereafter, American Eagle tracks customer purchases using the credit card as part of its customer relationship management system. Upon application, credit card holders provide basic information such as their names, addresses, e-mails, phone numbers, and employment information. Which step in the customer relationship management process is highlighted by this example? a. Identify customer relationships. b. Leverage customer information. c. Store and integrate customer data using information technology. d. Identify best customers.
identify customer relationships
L.L. Bean is a well-known outdoor clothing and recreation equipment company based in Maine. It uses catalogs and its website to entice customers to make a purchase. Once customers purchase, they are placed in the customer database, and then the company follows and tracks their interactions. Clara is vice president of online marketing and has asked the database manager to identify those customers who have the highest dollar spend within the last year. She is specifically interested in knowing how many customers spend more than $2,000 a year with L.L. Bean. Which step of the customer relationship management system best characterizes Clara's request to the database team? a. Understand interactions with current customer base. b. Identify the best customers. c. Leverage customer information. d. Capture customer data based on interactions.
identify the best customers
The executive producers of a major motion picture are interested in gauging reactions to several different versions of movie previews prior to the movie's release to theaters. A marketing research firm recruits participants who meet the target market characteristics of the movie's intended audience. The firm sends the participants different versions of 15-second or 30-second movie trailer advertisements. Following the viewing of the advertisement, participants answer several questions and indicate their likelihood of seeing the movie in the theater. The ability of the research firm to provide video as part of the research activity highlights which important advantage of mobile research? a. Cost savings b. Broader reach c. Broader demographic reach d. Immediate feedback
immediate feedback
Jasmine is the manager of ticket sales for the Houston Texans, a professional football team. Since their debut in 2002, the Texans have entertained fans in NRG Stadium, which seats close to 72,000 people. Jasmine is responsible for season ticket sales, game-day sales, and group sales to ensure maximum ticket revenue for the team. She recently hired a marketing research consultant to assist her in determining the best approach for marketing season tickets. Jasmine must allocate her marketing budget across various options such as outbound telephone calls, direct mail, radio advertising, print media, and social media. She is hopeful that the marketing research will help her identify the most effective allocation of her budget across these various options. In this case, marketing research is _______. a. helping Jasmine identify problems b. helping Jasmine understand very detailed and complicated relationships c. improving Jasmine's decision-making d. enabling Jasmine to serve both current and future customers accurately and efficiently
improving Jasmine's decision-making
The Coachella Valley Music and Arts Festival is an annual event held at the Empire Polo Club in Indio, California. The festival organizers are interested in capturing participant reactions and perceptions of the food vendors. They invite concertgoers to register their mobile phone numbers and then send surveys to attendees via their phones. During the last festival, more than 35 percent of attendees participated in the research. This example highlights that mobile research offers the advantage of _______. a. increased response rates b. richer content c. cost savings d. broader reach
increased response rates
Taco Bell recently announced it was debuting a new menu item. Commercials for the new product feature the item and state the product will be available in stores at the end of the month. The primary goal of this promotional message is to _______ the target audience. a. persuade b. remind c. inform d. connect
inform
The first group to adopt new products are called _______. a. innovators b. early adopters c. late minority d. laggards
innovators
Ren is a business development consultant for a solar energy company. The company is seeking to expand its business with commercial accounts. Ren typically works in the education market specializing in smaller school districts where he can meet with the superintendents and school board to discuss the benefits of utilizing solar power. Ren's market segment would be categorized as a(n) _______. a. reseller b. institution c. government d. producer
institution
Old Spice's "Smell like a Man, Man" campaign has revitalized the brand. The first television ad quickly went viral. Old Spice placed print ads using the same wording and talent in targeted publications and supplemented this with a social media presence on Twitter, Instagram, and Facebook. The campaign is an example of _______ marketing communications. a. integrated b. pervasive c. powerful d. cohesive
integrated
Ethan recently accepted a sales position with Vector Marketing to represent Cutco. Ethan meets with customers in their homes and typically has several fresh food items such as apples or tomatoes with him. He uses the fresh food items so customers can compare their "favorite" knives with Cutco's knife featuring the Double D edge. Ethan has been surprised how engaged customers become during these activities because they believe that their knives will perform better than the Cutco brand. A customer's level of engagement and participation in the product demonstration is an example of how _______, a step in the AIDA process, is stimulated. a. interest b. action c. attention d. desire
interest
Huilang is an account manager for a radio station. She typically uses _______ communication by meeting with small business owners at their places of business. a. indirect b. mass c. interpersonal d. influential
interpersonal
JELD-WEN is a manufacturer of doors and windows that are sold through home improvement stores such as Menards, Home Depot, and professional building contractors. JELD-WEN uses a customer relationship management system to track customer interactions. For example, JELD-WEN recently completed a study of its professional contractors and identified three distinct segments of contractors based on their purchase habits. The company will share this information with different divisions within JELD-WEN. Which step of the customer relationship management system best characterizes JELD-WEN's actions of sharing the information with different divisions within the firm? a. Leverage customer information. b. Identify customer relationships. c. Store and integrate customer data using information technology. d. Capture customer data based on interactions.
leverage customer information
Verizon recently launched a campaign giving steep discounts on the new iPhone to new customers. In addition, new users will receive unlimited data plans. This is an example of a promotion designed to _______ the target audience. a. inform b. connect with c. remind d. persuade
persuade
Netflix dominates streaming services, and the company is now spending almost 50 percent of company revenue on developing original content for its subscribers. However, Netflix is concerned with the introduction of Disney+, a proprietary streaming service for a monthly subscription fee. As a result of Disney's new streaming service, Disney removed all of its titles from Netflix. Therefore, Netflix is interested in determining the best types of content—movies and/or series—to maintain and grow its subscription base. Netflix can use its proprietary data of customer streaming information to gain insight into this issue, since Netflix knows what content people are watching and when they watch it. Netflix's desire to determine the best type of content to offer in order to maintain and/or grow its subscription base is an example of a _______. a. marketing research problem b. marketing research objective c. business opportunity statement d. management decision problem
marketing research objective
Pasua enjoys going to the movies and especially likes seeing the trailers for movies that are coming out soon. These trailers attempt to gain the interest of theatergoers and build excitement for the upcoming movie. They are considered a form of _______ communication. a. persuasive b. mass c. individual d. interpersonal
mass
The stage of the PLC where sales revenue peaks due to market saturation is the _______. a. growth stage b. maturity stage c. decline stage d. introductory stage
maturity stage
Miguel receives a survey from Gillette about his shaving frequency, and whether he uses an electric razor. Miguel responds that he shaves twice a day with a normal razor, although in truth he only shaves four to five times per week. This is an example of _______ error. a. measurement b. random c. sampling d. frame
measurement
Dell is a technology manufacturer and marketer best known for its computers. In the laptop category, Dell offers several branded options: XPS, a premium model; Alienware Gaming, for the most up-to-date gaming features; Inspiron, satisfying basic computing needs; and Chromebook, as a budget model. Dell uses a different marketing mix for each model in order to specifically target customers whose needs "fit" or "match" the features provided by the laptop. Which type of segmentation strategy is Dell using to market laptops? a. Focused targeting b. Niche marketing c. Undifferentiated targeting d. Multisegment targeting
multisegment targeting
The purchase of health and beauty aid products can be overwhelming due to the number of choices. For example, Procter & Gamble offers its Old Spice brand for men, Head & Shoulders for individuals needing dandruff control, and Pantene Pro-V formula that "transforms your hair by making it stronger." Procter & Gamble utilizes a unique marketing mix for each brand of shampoo, giving the company many benefits such as greater sales volume, higher profitability, larger market share, and economies of scale in manufacturing and marketing. Procter & Gamble is using _______ targeting. a. undifferentiated b. multisegment c. concentrated d. focused
multisegmented
Aisha is a marketing researcher who is using a new methodology to understand consumer decision-making. Her research involves using an MRI machine to examine the brain patterns of participants. She recently played different types of music such as classical, pop, rock, and rap music to identify the areas of the brain that were activated by the music. This is an example of _______. a. cognitive scanning b. neuromarketing c. unethical research d. dangerous research
neuromarketing
Which step in the product development process defines the types of products the organization wants to offer and the markets it wants to serve? a. Idea generation b. Business analysis c. Idea screening d. New-product strategy
new-product strategy
Which step in the product development process defines the types of products the organization wants to offer and the markets it wants to serve? a. Idea screening b. Business analysis c. Idea generation d. New-product strategy
new-product strategy
Anish was watching a World Cup soccer match with friends. During commercial breaks, Anish would typically talk with others about the game or go get something to eat. Anish was distracted and didn't pay attention to the commercials. According to the communication process, this is known as _______. a. decoding b. encoding c. noise d. distraction
noise
Buckle, a retailer of jeans and fashion clothing, is considering expanding further into related product categories, and the company is interested in conducting research to understand the current shopping habits of customers and how much time they spend in the store. Buckle is planning to use an outside marketing research consulting company to gather data. The research company will record the habits of store visitors, such as the amount of time spent in the store, whether a purchase is made, which categories of products are browsed or purchased, and the role of the salesperson, as well as the number of people in each shopping group and the composition of those groups (e.g., family members, friends). This is a labor-intensive project, but Buckle believes it will provide the insight needed to make decisions on product line expansions. Which of the following is the best research method for Buckle's research consultant to employ? a. Observation research b. Focus group research c. Experimental research d. Secondary research
observation research
The College Board is interesting in gaining insights about students' changing needs and the type of information that would be helpful to them as they make decisions about which college to attend and which areas to study. To accomplish this, the organization hires a marketing research consultant who recommends a(n) _______. The research firm will identify individuals in their database who are high school sophomores or juniors who have taken the PSAT test. Students will be recruited to participate in a web-based discussion forum that will be led by a moderator. The look and feel of the web-based platform is like a chat room, so all participants can see all questions and all responses. The information is captured by the research firm and is available for review and analysis. Typically, individuals only participate in a single discussion session. a. online focus group b. web survey c. computer-assisted telephone survey d. online research community
online focus group
Which survey method involves a business hiring a firm that facilitates an online group discussion and delivers a recap of the discussion? a. Online panel providers b. Online focus groups c. Online research communities d. Google consumer surveys
online focus groups
Harley-Davidson enjoys an almost cult-like following for its motorcycles. Most Harley buyers are members of the Harley Owners Group, or HOG. The company offers a variety of benefits to HOG members, including special rides featuring celebrity owners such as Jay Leno and tie-ins to movies using Harley motorcycles. HOG also presents a unique opportunity for Harley-Davidson to gather marketing research insights. The company has recruited several thousand members to participate in ongoing research activities where participants receive gifts such as special shirts or hats for their cooperation. Members typically agree to participate for one year. Members interact with each other and answer company-directed questions via a custom-designed website. This is an example of a(n) _______. a. online survey b. online focus group c. online research community d. scanner-based research
online research community
Zappos is an online retailer known for its shoes and apparel. Zappos contracts with Facebook and Instagram to feature banner advertisements. These advertisements often appear to customers who have recently visited the Zappos website. This is an example of _______ media. a. promotional b. owned c. earned d. paid
paid
A _______ is a way to display or graph, in two or more dimensions, the location of products, brands, or groups of products in customers' minds. a. portfolio chart b. positioning matrix c. perceptual map d. product plot
perceptual map
A person's traits, attitudes, and habits are part of their _______. a. demographics b. motives c. personality d. lifestyle
personality
Noel often watches TV late at night. During SportsCenter on ESPN, Noel saw an advertisement for Meguiar's Hybrid Ceramic Wax. It says, "Spray on. Rinse Off. Protection and durability...beyond conventional car wax. Ceramic made easy." The spot is visually appealing and shows the simplicity of the process and the customer standing back and saying, "Wow!" This is an example of a promotion designed to _______ the target audience. a. inform b. persuade c. connect with d. remind
persuade
Aldi, a grocery retailer, is using market testing in select cities around the country to measure consumer response to curbside pickup. As they do with other retailers, consumers order items from Aldi online and schedule a pickup time to retrieve their items. Based on preliminary results, Aldi estimates that the addition of curbside pickup will lead to a 15 percent increase in store sales, especially in suburban and higher income locations where shoppers are willing to pay extra for convenience. In this example, Aldi is capitalizing on the _______ role of marketing research. a. diagnostic b. descriptive c. predictive d. exploratory
predictive
After collecting and analyzing the data, what is the next step in the research process? a. Preparing and presenting the report b. Collecting primary data c. Planning the research design d. Specifying the sampling procedures
preparing and presenting the report
The Dollar Store has created a unique following of budget-oriented shoppers by offering products priced at $1 and up. It is considered a "value" store where customers can buy generic and brand-name items at deep discount compared to full-service grocery retailers such as Kroger or Meijer. The Dollar Store is using _______ as a positioning base to differentiate its stores from its competition. a. product user b. use or application c. emotion d. price and quality
price and quality
American Express has millions of customers who carry its credit card. It is interested in learning more about its customers' perceptions of the many benefits and partner companies associated with American Express, so it is launching a research study. The company plans to use a _______ sampling method in which each person who has an American Express credit card has a known statistical likelihood of being selected to participate in the study. a. judgmental b. convenience c. probability d. nonprobability
probability
Caterpillar is a manufacturer of heavy machinery that is sold through its network of dealers around the world. A popular Caterpillar product is the skid steer loader, which is commonly used in general construction, agriculture, and landscaping. Segmenting Caterpillar's skid steer loader customers by industry enables it to better satisfy customer needs by matching its product and available attachments to the industry focus of the customer. Caterpillar is using _______ as a segmentation variable. a. product use b. geographic location c. company size d. volume of purchase
product use
A positioning strategy that focuses on personality or type of consumer is using a _______ positioning base. a. product attribute b. competitor c. product user d. price and quality
product user
When marketers look at the segment size, expected growth, and sales and profit potential, they are in which step of the market segmentation process? a. Choose a basis or bases for segmenting the market b. Select markets c. Profile and analyze segments d. Design, implement, and maintain appropriate marketing mixes
profile and analyze segments
Prisha is an avid music fan. She enjoys attending music festivals in her local city as well as around the country. Her favorite festival is Lollapalooza, held each summer in downtown Chicago, Illinois, but she's also traveled to Austin, Texas, for the South by Southwest festival. Prisha is always surprised to see so many companies with booths and representatives who are interested in interacting with concertgoers, but she assumes it's a great way for them to connect with younger customers like herself who are between the age of 18 and 30. Companies like State Farm, a leading property and casualty insurance company, believe that the best way to create relationships with customers is to join them in activities they enjoy. Which type of market segmentation best captures this combination of age and interest in contemporary or alternative music? a. Geographic b. Psychographic c. Benefit d. Demographic
psychographic
Menards, a home improvement supercenter retailer, often uses television advertising. Its advertisements feature the catchy musical jingle "Save big money at Menards" and highlight a specific product such as a pack of light bulbs from GE for a special price of $3.99. Which type of strategy is Menards using to sell its products? a. Engagement b. Persuasive c. Pull d. Push
push
Assume you are a marketing consultant who has been hired to assist a jewelry store that is releasing a new product line. The store will be the only location in a 60-mile radius to carry this product line. Since the product is in the introduction stage of its life cycle, the jewelry store should use _______ to build awareness. a. radio or television advertising b. a contest to win a free item of jewelry c. coupons in the newspaper d. personal selling
radio or television advertising
A market segment that is large enough to justify its own marketing mix is said to be _______, while a market segment is _______ if marketers can reach members of the segment with customized marketing mixes. a. substantial; accessible b. responsive; identifiable c. identifiable; responsive d. accessible; substantial
substantial; accessible
Chili's is a large restaurant chain that now offers patrons the opportunity to order and check out using a kiosk at their table. Customers have the option to rate their experience as they checkout and pay. Chili's uses this experience survey to ask about diners' experiences with the restaurant, such as the friendliness of the staff, quality of food, restaurant ambiance, and the customers' likelihood of dining with Chili's again. The survey also gathers the specific store location where the consumer dined to enable the company to identify high- or low-performing restaurant locations. Identification of high- or low-performing locations helps Chili's act quickly to take corrective adjustments when necessary. This highlights an important advantage of online surveys, which is _______. a. real-time reporting b. improved respondent participation c. contact with hard-to-reach respondents d. reduced costs
real-time reporting
Carrying different recreation products in stores in different parts of the country is based on which geographic variable? a. Market size b. Market density c. Region d. Climate
region
Riya recently saw an advertisement for the allergy medication Zyrtec. The ad mentioned that Zyrtec provides relief for indoor and outdoor allergies. The advertisement ended with a list of stores where customers could purchase Zyrtec. This is an example of a promotion designed to _______ the target audience. a. remind b. inform c. persuade d. connect with
remind
JCPenney, a U.S.-based retail chain of 870 stores, is more than 110 years old. Since its first days as a single store location in Wyoming until today, it has experienced many transformations. The store has made changes in inventory, advertising messages, and store design to appeal to an ever-changing customer base. In recent years, JCPenney has been using a _______ strategy and now advertises that "We're always helping you find amazing deals on all your favorite items." Thus, JCPenney is attempting to change consumers' perceptions about its stores in relation to its competitors. a. concentrated b. multisegment c. customized d. repositioning
repositioning
When a company changes consumers' perception of a brand in relation to competing brands, they are ______ the product a. relocating b. rebranding c. rearranging d. repositioning
repositioning
Products that are new and improved versions of existing products would be considered _______. a. revisions of existing products b. additions to existing product lines c. new-to-the-world products d. lower priced products
revisions of existing products
Chao-xing is consulting with a retail store that sells furniture and appliances. The store uses television and radio advertising to gain consumers' attention and to create awareness of the store. Which element of the promotion mix should Chao-xing recommend the store use to create strong desire and purchase intent among its target market of customers? a. Personal selling b. Public relations c. Sales promotion d. Social media
sales promotion
Diego works as an account representative for Red Bull. He partners with restaurants and bars to promote his product. Diego can give bar owners a small counter-top refrigerator to keep their Red Bull product cold when they place an order for five cases of product. Diego also distributes hats and T-shirts featuring the Red Bull logo for special events at local clubs. The hats, shirts, and refrigerator are examples of _______, an element of the promotion mix. a. publicity b. advertising c. personal selling d. sales promotion
sales promotion
Competitive intelligence can come from which of the following sources? (Select three) a. Salespeople b. Your company's financial statements c. Suppliers d. Industry experts e. Surveys of your competitors
salespeople, suppliers, industry experts
Consumer packaged goods companies such as Procter & Gamble rely on supermarket purchasing data compiled by companies such as SymphonyIRI to understand how their products are selling, in what quantities, and in which package sizes. In addition, they can obtain data about price points, whether consumers utilized coupons, or information about other in-store sales promotions. SymphonyIRI provides _______ data to consumer goods manufacturers. a. primary b. disaggregated c. scanner-based research d. qualitative
scanner-based research
Frito-Lay has been analyzing sales data compiled by a third-party company and has noticed that sales of baked varieties such as Baked Cheetos and Baked Lay's potato chips are higher in suburban markets compared to urban grocery outlets. This information will assist Frito-Lay in their individual store planning sessions as account managers meet with store managers to discuss inventory and stock positions. The information Frito-Lay is utilizing is called _______. a. primary research b. qualitative research c. scanner-based research d. neuromarketing
scanner-based research
GameStop operates more than 5,800 retail stores across the United States and 14 countries. It offers a free PowerUp Rewards program that allows customers to earn points and discounts on purchases. Customers can also pay $14.99 per year for a Pro membership that offers additional benefits. More than 55 million people are members of GameStop's Rewards program, providing the company with lots of information about each member's purchasing history, such as the types of products purchased, amount spent per transaction, frequency of shopping, equipment trades, and returns. Which of the following terms best characterizes the information that GameStop owns related to its PowerUp Rewards program? a. Competitive data b. Social media data c. Primary data d. Secondary data
secondary data
There are multiple types of probability samples. In a _____________ , every member of the population has an equal chance of selection. In a ____________ , members of a population are selected in preset intervals.
simple random sample, systematic sample
Aetna Insurance is a dominant provider of health insurance, and it contracts with businesses to offer employee health insurance. Aetna typically relies on standard segments of business customers based on the number of employees working at the firm. Small businesses are those with fewer than 100 employees; medium-sized businesses employ 101 to 999; and large enterprises have 1,000 or more employees. Aetna's segmentation is based on company _______. a. product use b. size c. geographic location d. volume
size
Which survey method allows users to create a survey and distribute it to their own audience through email, their website, or social media? a. Online focus groups b. Online research communities c. Web survey systems d. Google consumer surveys
web survey systems
Ida is a category manager for a men's fragrance company. She is interested in learning more regarding how men make decisions about buying cologne or aftershave. She has spoken with several marketing research vendors and has learned that _______ is the most popular technique for gathering primary data. a. experimental research b. observation research c. scanner data d. survey research
survey research
Fastenal is a distributor of industrial tools and supplies. It operates more than 2,000 branch locations across the country. It focuses primarily on the business-to-business market and has identified several distinct markets to target: 1) smokestack industrials, 2) modern warehouse, 3) mom-and-pop services, and 4) white-collar industrial. These descriptors help Fastenal's account managers to create a unique message and product or service appeal to the distinct market segments. According to the text, at which step of the market segmentation process are segment descriptors determined? a. Second b. Fourth c. Third d. First
third
A good reason to invest in new-product development is _______. a. to let competitors offer better alternatives b. to rely on existing products forever c. to cut research and development budgets d. to sustain company growth
to sustain company growth
The Good Sleep Hotel chain offers a simple solution to individuals who need to purchase one or more nights away from home—a good night's sleep! The company has one style of room, all with the same amenities, size, and ability to accommodate up to four people with two queen-size beds. Good Sleep Hotel believes that everyone deserves a restful night away from home. Focusing on this simple need enables the company to reduce its marketing expenditures and costs associated with offering different types of rooms such as singles or suites. The Good Sleep Hotel chain is using _______ targeting. a. undifferentiated b. multisegment c. focused d. concentrated
undifferentiated
When a company uses a single marketing mix to target all customers, it is utilizing _______. a. multisegment targeting b. concentrated targeting c. niche targeting d. undifferentiated targeting
undifferentiated targeting
Companies that use frequency/loyalty programs hope that consumers purchase more of the product or service. This is an example of _______. a. usage-rate segmentation b. benefit segmentation c. psychographic segmentation d. geodemographic segmentation
usage-rate segmentation
