Marketing Chapter 6-10

Describe the similarities among potential customers within a market segment and explain the differences among people in different market segments.

Market segment profiles

Which of the following digital media tend to be more promotional oriented?

Media-sharing sites

____ relates to perceptions of value and is the most flexible element of the marketing mix.

Pricing

Which of the following is NOT a physical surroundings factor influencing buying decisions?

Time

If a large proportion of customers in a total market have similar product needs and the company has the resources to develop a marketing mix to satisfy them, which targeting strategy would be effective?

Undifferentiated strategy

Which of the following is an example of a behavioristic segmentation variable?

Usage rate

when a business has a relatively small number of customers, a preferred method of forecasting is

a customer forecasting survey

The ability of a marketer to identify customers before they make a purchase is called

addressability.

A business advantage of the concentrated targeting strategy for any company is that it

allows a firm to develop a special marketing mix for a single market segment

The three major types of reference groups are

aspirational, dissociative, and membership.

Routinized response behavior is what a consumer does when

buying frequently purchased, low-cost items that need little search effort.

A group of brands that a consumer views as alternatives for possible purchase is called a(n)

consideration set.

Purposeful actions to take advantage of or harm others during a transaction is best described as

consumer fraud

When influencers fail to disclose a connection to a brand they promote, they may be charged with

deceptive advertising.

After an organization has determined which of the many segmentation variables it will use, the next step in the target market selection process is

developing market segment profiles

After purchasing a product, postpurchase evaluation may result in cognitive dissonance. Cognitive dissonance is

doubts that occur because the buyer questions whether the decision to purchase the product was right.

The forces that other people exert on one's buying behavior are called social influences. These come from reference groups and opinion leaders, digital influences, social classes, culture and subcultures, roles, and

family

Within the buying center, ____ are technical personnel who develop product specifications and evaluate alternatives, while _____ actually choose the products.

influencers; deciders

Assignment of meaning to organized information inputs is called

interpretation

The three most widely recognized types of consumer decision making are

limited problem solving, extended problem solving, and routinized response behavior.

Most business purchases can be classified as belonging to one of three types:

modified rebuy, new-task, or straight rebuy.

After certain inputs have been selected to reach an individual's awareness, the next step in the perceptual process is perceptual

organization

The primary psychological influences on consumer behavior are

perception, motivation, learning, attitudes, personality, and lifestyles.

Retail chains try to design their store environments and layouts so as to make shopping as enjoyable and easy as possible and thereby encourage consumers to linger and make purchases. This most relates to

physical surroundings

The five major stages of the consumer buying decision process, in order, are

problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation.

Business markets are typically divided into four categories. These categories are

producer, reseller, government, and institutional

The five categories of situational influences are

purchase reason, time perspective, social surroundings, physical surroundings, and buyer's momentary mood.

The _____ of a(n) website will have a major impact on whether the customer exhibits loyalty to the site.

quality

As digital communication technologies have advanced, it is possible for marketers to

reach markets that were previously inaccessible.

is a useful sales forecasting method as long as a precise relationship between past figures and one or more variables can be established. Without these relationships, this method is useless in forecasting future sales.

regression analysis

Which of the following is the biggest drawback to using psychographic variables?

They are difficult to measure

Which of the following is NOT one of the major categories of consumer market segmentation variables?

Situational variables

____ are more consumer-driven than traditional media.

Social media

Why would a company use the undifferentiated strategy?

The needs of individual consumers in the target market for a specific product are similar, so the organization can satisfy most customers with a single marketing mix

Two trends that have caused consumer-generated information to gain importance are

the increase of consumers sharing their opinions through digital media and the consumer's mistrust of information from corporations.

Generally speaking, individuals who are unemployed would NOT be considered a target market for lawn care services because

they would not have the ability to purchase such products

One of the biggest mistakes a marketer can make when engaging in digital marketing is to

treat it like a traditional marketing channel.

Marketers use a variety of characteristics to segment markets that they are interested in pursuing. When segmenting consumer markets, demographic variables are normally used. All of the following are demographic characteristics used by marketers to segment markets except

usage rate

A ____ is a type of software that creates an interface that enables users to add or edit the content of some types of websites.

wiki

Which of the following forecasting methods is least dependent on historical sales data?

A market test

____ are web-based journals in which writers can editorialize and interact with other internet users.

Blogs

What is a primary difference between business and consumer buyers?

Business buyers generally place larger orders than consumer buyers.

____ involves consumers' ability to be connected with marketers along with other consumers.

Connectivity

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

Control

____ uses the internet, mobile, and interactive channels to develop communication and exchanges with customers.

Digital marketing

If market segmentation analysis shows customer needs to be homogeneous, the firm's management should decide to use the differentiated approach.

False

The first step of the target market selection process is identifying the appropriate targeting strategy; the last step is evaluating relevant market segments

False

there are generally steps in the target market selection process. The second step is

Five, determine which segmentation variables to use

____ allows customers to express their needs and wants directly to a company in response to its marketing communications.

Interactivity

________ that can allow almost real-time measurement and evaluation should be embedded at the onset of a social media strategy.

Key performance indicators

Eighteen-year-old students do not form a market for alcoholic beverage because they

Lack the authority to purchase this type of product

when evaluating market segments, assessment of competitors is important because

sales estimate may cause a segment to appear to be lucrative, but there may be several competitors that together have a large share of that segment.

The third stage in the business buying decision process is to

search for products and suppliers.

the final step in the target market selection process is

selecting specific target markets

Digital media have created opportunities for companies to

target specific markets.

The percentage of users that clicked on a link on a site is known as

the click-through rate.

The most important feature of apps is

the convenience and cost savings they offer to the consumer.

The growing use of two-day and next-day delivery by online companies best relates to

the distribution variable of the marketing mix.

Relying on executive judgment for forecasting may be adequate when

the executive has considerable experience and product demand is relatively stable

Many aspects of consumer buying decisions are affected by the individual's level of involvement. Level of involvement is

the importance and intensity of interest in a product in a particular situation.