Marketing Exam 2 Class Questions

The 80/20 rule is a theory that suggests

20 percent of heavy users account for 80 percent of the total demand

GM wanted to know what features were used the most in their new cars, so they invited 10 people who owned GM cars to sit in a room with a moderator and answer questions. This is an example of

A focus group

Compare the following to determine the best example of a high involvement product purchase

A new car

In marketing terms the care you receive when you visit a family doctor is an example of

A service

Trevor went to the store to get a new pair of running shoes but the store was temporarily out of the brand he normally buys. What is the term for this situation

A stockout

Read the following and select which one best represents a growing ethical concern in targeting certain market segments

Abercrombie and Fitch targeting tweens with sexualized clothing

Which dimension of attitudes is made up of feelings or emotional reactions to the attitude of the object

Affective component

The owner of tools by joe has hired a company to help him find our whether customers and potential customers would prefer to shop his store or online. What type of research would this company be conducting

Descriptive

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. This firm failed to understand the criteria of market segments needing to be

Differentiable

It has been kionas 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, kiona has decided to open a specialty cupcake shop to cater to that market only

Market segmentation

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

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

College prep tutors is a business that tutors HS students who are preparing to take ACT tests as a part of their college entrance requirements. Because it possesses a unique offering that is desirable to a specific market, college prep would most likely use what type of marketing strategy

Niche marketing

Which of the following is not a stage in the product life cycle

Obsolescence

Individuals who exert an unequal amount of influence of the decisions of others because they are considered knowledge about the particular products are called

Opinion leaders

The competitive analysis tool that creates a visual picture of where products are located in consumers minds is called a

Perceptual map

When a company needs to determine how much a product in inventory at various points in the distribution network, which of the four P's of marketing is being considered

Place

Cognitive dissonance occurs during which stage of the consumer-decision making process

Post Purchase process

In order to develop a plan for marketing his new vitamin water, Rashid decided to conduct focus groups with members of fitness centers. This type of research is

Primary data

What type of sampling occurs when every person in the target market has a chance of being selected, and the probability of each person being selected is known

Probability

The first stage in the consumer decision making process

Problem recognition

When fisher-price comes up with an idea for a new toy, it needs to ensure that the children who play with the toy will not choke on any of its parts and that the toy in general will not be a hazard to the children who will be using it. In what stages of the new product development process will these safety checks occur?

Product development

Ford motor company produces the fiesta, focus, and fusion. As a group these cars represent a

Product line

Stores like Cabela's, REI, and Bass Pro Shops that cater to outdoor enthusiasts most likely use what type of segmentation strategy

Psychographic segmentation

_____ is based on research that estimated how much of a product will sell over a given period of time

Sales forecast

Jayla and stuart are trained researchers. They visit restaurants as customers in order or assess the level of service, quality of food, and competence of the wait staff. Jayla and Stuart are

Secret shoppers

The U.S. Army slogan Be All You Can Be appeals to which level of maslow's hierarchy of needs?

Self-actualization

Bart wanted to know how often freshmen males at his school drank alcohol, but he couldn't survey each of them. Bart decided that in order to give all freshman males an equal chance of being selected to participate in his mini-study, he would visit the dorms at dinnertime and ask them to choose numbers out of a hat. The ones with #5 were given the survey

Simple random sampling

Compare the following definitions and select the one that accurately describes consumer behavior

Study of how individuals make decisions about how to select, secure, use, and dispose of products to satisfy needs

Which of the following is a form of quantitative research that can be used to measure consumer attitudes, intended behavior, and the motivations behind behavior

Surveys

The group of customers toward which an organization has decided to direct its marketing efforts is called

Target market

Carson has opened up a new sports bar in town. He determined that his market segments are 1. student from campus 2. families w small children and 3 young adult males. Carson now has to determine which of these segments will provide him with the best opportunity to maximize sales. The process of doing this is

Targeting

A consumer searching for information will create a list of brands or products that he or she will evaluate as options for the solution of a particular problem. This list is referred to as

The evoked set

Read the following statements and select the one that is not an advantage of a product line extension

The new product is certain to be accepted by the market

As defined in your text, a product refers to

The specific combination of goods, services, or ideas that a firm offers to its target market check in book

To be effective, segmentation should create market segments that rate favorable on various criteria. Which of the following is not one of the criteria outlined in the text?

Variable

Ricos' firm manufactures homemade salsa. His product is sold around the country, but he adds extra jalapenos in Texas, NM, and Arizona because those customers prefer extra heat. Rico also markets the product differently based on the region of the country where it is sold. This represents what type of targeting strategy

Differentiated

The process by which new products are likely to be adopted, the rate at which they will be adopted, and the process through which the product will spread into markets is referred to as

Diffusion

A technology that displaces an established technology and shakes up the industry, or a groundbreaking product that creates a completely new industry is

Disruptive technology

Nora is in the market for a new HD television. She has spent quite a bit of time gathering information and thinking about the purchase. She has asked her friends for opinions about the models they own and is happy that there are a lot of models to choose from. Nora is most likely what type of adopter?

early majority

Franco is considered to be tech savvy by his friends. He is unafraid to take risks when it comes to trying new products and is always the first in his group to get the latest gizmo. What type of product adopter is Franco?

innovator

during which stage of the product life cycle do customer service and repairs begin to take on significance as a way to differentiate a firm's products

maturity

What is the term for observing the behavior of online communities that have been organized around a particular consumer interest

netnography

The activities a firm undertakes to create a certain perception of its product in the eyes of the target market is referred to as

positioning

Both Sam's Club and Costco have positioned themselves to provide a variety of items to shoppers lower than retail stores. These stores have positioned themselves based on

price/quality relationship

Which of the following scenarios would most likely require an extensive external search for information

Dustin and janelle are looking to buy their first home

Contractor that advertise the ability to turn home attics or the space above a garage into living areas are most likely targeting their markets based on the demographic variable of

Family size

Which of the following is a demographic segmentation variable

Gender

The largest source of information that flows through an organization comes from

Internal company data

Udi's Gluten Free sells bread, bagels, cookies, pizza crust, and other products that are gluten free. This combo of all the products that Udi's Gluten Free sells is referred to as its

product mix

Today's health conscious society has caused cereal manufacturers to rethink their products. Now many cereals such as frosted flakes are being marketed as being healthier because they are made with whole grains. This is

repositioning

Which of the following statements regarding the concept of learning is not ture

Learning refers to the modification of behavior that occurs over time due to experiences and other external stimuli

Which of the following is not one of the need levels in Maslow's Hierarchy of Needs

Love & belonging

Read the following lists of tasks and select the one that does not take place during the product launch stage

Make sure the product can be manufactured at a cost low enough to generate profits

Select the scenario that is using snowball sampling

After sasha completed the survey, she recommended her friend to the surveyor because they both liked the same cereal

Clif Bar & company, makers of energy and nutrition bars expanded their product line to kids. These bars are specifically designed to provide the right nutrition for growing children. For this product Clif bar is segmenting the market based on

Age

Which of the following is most likely a low-involvement purchase

Bottle of shampoo

Read the following statements to select which one is accurate regarding the use of social media in market segmentation

By segmenting the market by those who are active on social media, companies can connect with a larger and more diverse consumer base

To find out what scent consumers prefer for a new floor cleaner, the researcher conducts a focus group and exposes the participants to several scents, asking them which one they would buy. Select the type of research being conducted

Causal

Which of the following is the best example of how one's personal value system influences his or hers buying behavior

Christy decided to buy an electronic vehicle because she is concerned about the harmful effects of carbon dioxide emissions produced by gasoline fuels

The study of individuals, groups, or organizations and the processes they use to select, secure, and dispose of products, services, experiences, or ideas to satisfy needs is known as

Consumer behavior

The fact that you see a starbucks on practically every corner would indicate that starbucks is most likely geographically segmenting based on

Customer convenience

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

Dara from the census bureau website

Quentyn is a relator selling high-end homes prices over $750,000 before showing a property to prospective clients, Quentyn makes sure they are pre-qualified for a home loan commensurate with the price of the house. This pre-qualification is based mainly on the clients income, which is what type of segmentation variable.

Demographic

In a marketing information system (MIS), data flows through the organization from internal company data, competitive intelligence, and

Marketing research

John works for a consumer products company. His job is to use information to identify and define marketing opportunities, evaluate marketing actions, and monitor marketing performance. John's work involves

Marketing research

Dell does not currently offer an e-reader in its product line. However, if the company decided to enter the market by producing an e-reader of its own, it would be classified as what type of product

New category entry

Walter does not like change. He thinks the cell phone he currently owns is just fine even though it doesn't have all the features of new phones. Walter hopes he doesn't lose this phone because the company doesn't make this style anymore. What type of adopter is Walter?

laggard

TisSian wants to join a new health club. Her roomate belongs to a club that she heard about on the radio. She decides to use her roommate's free guest passes to try out the club to see if it meets her needs. What stage of the consumer adoption process does this represent?

trial

the marketers at pantene included a trial size of their new shampoo in the september issue of InStyle Magazine. National sales increased drastically within a few weeks, an of this products

trialability