Marketing Homework Questions
According to the text, two major public policy and ethical issues in marketing research are ________.
intrusions on consumer privacy and the misuse of research findings
What are the five stages of the consumer adoption process in the correct sequence?
Awareness, interest, evaluation, trial, and adoption
What are the four general characteristics that influence consumer purchases?
Cultural characteristics, social characteristics, personal characteristics, and psychological characteristics
According to the video, iRobot is seeing a lot of competitors coming out with lower-priced and lower-quality knockoffs. The result is a perception that robot vacuums do not work well. With respect to the broader SWOT framework, this analysis would fall under which dimension?
threat
A _______ defines how a company will create differentiated value for targeted segments and what positions it wants to occupy in those segments.
value proposition
To deliver real value to marketers, marketing information must _________.
provide useful customer insights
n which step of the buying decision process is the final order with the chosen supplier developed?
Order-routine specification
Goodwill adapts its store formats and merchandise plans to match the innovativeness and disposable income of shoppers in nearby neighborhoods. For instance, customers of its boutique store in the Haight-Ashbury neighborhood of San Francisco are more likely to demonstrate greater __________ for trendy fashions.
Rates of adoption
What are the five characteristics that are especially important in influencing an innovation's rate of adoption?
Relative advantage, complexity, compatibility, divisibility, and communicability
When iRobot introduced new robot models that would clean gutters and mop floors, this innovation represented which type of market growth strategy?
product development
In order to better understand consumers' perceptions of the taste of Domino's, the research team utilized an online listening approach, examining unsolicited opinions about their pizza on social networks. This approach would best be described as __________:
observational
The video suggests that a key challenge for Goodwill's marketers is to change the view of many consumers that secondhand stores are musty, low-class operations with poor-quality merchandise. This exemplifies the psychological concept of __________, which is the process by which people select, organize, and interpret information to form a meaningful picture of the world.
perception
Which of the following statements regarding the business market is correct?
Many sets of business purchases are made for one set of consumer purchases.
What are the eight steps in the business buying decision process in the correct sequence?
Problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and performance review
Which of the following is true regarding international marketing research?
Translating questionnaires from one language to another is not an easy task.
Which structural factor would make a market segment attractive to enter?
Very few actual or potential substitute products
In order to assess the effectiveness of its "Oh Yes We Did" ad campaign, Domino's tested the ad using a small group of individuals it thought was representative of the overall market. This group of consumers is called a __________.
sample
What do marketers use to analyze big data?
marketing analytics
Which of the following correctly defines the consumer market?
Individuals and households that buy goods and services for personal consumption
What are the three general sources from which marketers can obtain information?
Internal data, marketing intelligence, and marketing research
Which of the following are additional variables marketers use to segment business markets but not consumer markets?
Operating characteristics, purchasing approaches, situational factors, and personal characteristics
Why do companies use customer relationship management?
To capture and use customer data
Which type of business buying situation offers marketers the greatest opportunity but also the greatest challenge?
a new task situation
In order to determine which combination of crust, sauce, and cheese options work best together, the Domino's researchers employed a(n) __________ research design.
experimental
The profile of the early Roomba customers reflected individuals who liked and were comfortable with technology and who also wanted a clean home. Dividing the larger population into smaller groups based on such characteristics is a practice known as _____________.
market segmentation
Evaluating each market segment's attractiveness and selecting one or more market segments to enter is called _____.
market targeting
The group of individuals in the video and the processes by which they gather information to help decision makers generate and validate actionable customer and market insights could be described as Domino's __________.
marketing information system
According to the video, some individuals living in trendy neighborhoods choose to shop at Goodwill boutiques in order to find fashionable clothing and "shabby chic" furniture. According to Maslow's theory of __________, such shoppers are likely seeking to satisfy social or esteem needs.
motivation
The buyer decision process starts with __________.
recognizing a need
In its communications to customers and investors, iRobot proclaims that its goal is to "design and build robots that make a difference in people's lives." Identifying the company's mission is the first step in the ______________ process.
strategic planning
What is big data?
Data contained in huge and complex data sets
In which targeting strategy does a firm go after a large share of one or a few smaller segments?
Concentrated marketing
What are the four steps of the marketing research process in their correct sequence?
Define the problem and research objectives, develop the research plan, implement the research plan, interpret and report the findings
The Domino's leadership team determined that while it was a great delivery company, the poor taste of their pizza was an impediment to future growth. To what stage of the marketing research process did this realization correspond?
Defining the problem and research objectives
What is market segmentation?
Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes
What are the three types of objectives a marketing research project might have?
Exploratory research, descriptive research, and causal research
What are the four major variables used to segment consumer markets?
Geographic, demographic, psychographic, and behavioral
What determines whether the buyer is satisfied or dissatisfied with a purchase?
The relationship between the consumer's expectations and the product's perceived performance
What is a product's position?
The way a product is defined by consumers on important attributes
Just prior to the introduction of the Roomba, Electrolux introduced a similar robot in Europe that featured a sleek, space-aged design and a $1,500 price point. In contrast, the form factor of the iRobot Rumba was simple and its price point was much lower. Because of its unique ____________, the Rumba easily outperformed the rival product in terms of sales.
differentiation
According to the video, Goodwill has often had to cut prices due to poor ______ conditions.
economic
According to the video, Goodwill adjusts its merchandising and store formats in Northern California to better match the __________ of individuals living within those neighborhoods, as expressed by their respective daily activities, interests, and opinions.
lifestyle
The people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights comprise a ________.
marketing information system