marketing practice quiz
Mike was in the local deli and saw a display for a new flavor of sliced ham. He had not planned to buy any ham, but decided on the spot to buy a pound to try it. Mike's purchase represents - habitual decision making. - deep processing. - impulse buying. - high involvement processing. - extended problem solving.
- impulse buying.
New advertising guidelines require marketers to produce food - in reasonably proportioned sizes. - that is reasonably priced. - that is grown globally. - that can be advertised with cartoon characters. - that is natural.
- in reasonably proportioned sizes. New advertising guidelines therefore require marketers to produce food in reasonably proportioned sizes. Advertised food items must provide basic nutrients, have less than 30 percent of their total calories from fat, and include no added sweeteners.
hich law was passed to prohibit monopolies and other activities that would restrain trade or competition? - Federal Trade Commission Act - 1890 Sherman Antitrust Act - 1936 Robinson-Patman Act - Financial Reform Law - Consumer Product Safety Act
- 1890 Sherman Antitrust Act
________ involves the buyer considering his own or her personal knowledge about a product based on past experiences. - A purchase based on an impulse - An internal search for information - An external search for information - An experiential search for information - A recognition of need
- An internal search for information
Now that the oldest ________ are collecting Social Security, it is clear that this cohort will be the largest population of 50-plus consumers the United States has ever seen. - Generation Y - Generation X - Baby Boomers - Millennials - Generation Z
- Baby Boomers
After World War II, the birthrate in the United States rose sharply, resulting in a group known as - Gen Yers. - Gen Xers. - Baby Boomers. - Digital Natives. - Millennials.
- Baby Boomers.
________ is (are) at the center of the marketing environment. - The company itself - Corporate partners - Competitors - Consumers - Culture
- Consumers
Which scenario is the most likely result of inflation? - Consumers will purchase more products overall. - Consumers will switch from lower-priced brands to more expensive ones. - Consumers will buy more discretionary items. - Consumers will switch to less expensive options for necessities. - Consumers will stop buying low-cost luxury items.
- Consumers will switch to less expensive options for necessities.
________ reflects the link between consumers' demand for a company's product and the company's purchase of necessary inputs to manufacture or assemble that particular product. - Institutional purchasing demand - Distribution - Derived demand - Wholesaling - Reselling demand
- Derived demand The demand for B2B sales is often derived from B2C sales in the same supply chain. More specifically, derived demand reflects the link between consumers' demand for a company's output and the company's purchase of necessary inputs to manufacture or assemble that particular output.
Individuals born between the years 2001 and 2014 are called - Gen Y. - Gen X. - Baby Boomers. - Gen Z. - Millennials.
- Gen Z.
________, also known as Millennials, constitutes more than 60 million members in the United States alone and were born between 1977 and 2000. - Generation Y - Generation X - Baby Boomers - Generation M - Generation Z
- Generation Y
________ consists of GDP plus the net income earned from investments abroad (minus any payments made to nonresidents who contribute to the domestic economy). - The trade deficit - The consumer price index - Gross domestic product - Gross national income - Purchasing power parity
- Gross national income
Which group of consumers in the United States has an increasing influence on mainstream U.S. culture with buying power that was projected to reach $1.3 trillion in 2015? - African American - Hispanic - Native American - Asian American - Pacific Islander
- Hispanic
Which statement regarding the B2B buying process is true? - The B2B buying process is identical to the B2C buying process. - The B2B buying process is less complex than the B2C buying process. - In the B2B buying process, decisions are made quickly and without much consideration. - In the B2B buying process, formal performance evaluations of the vendor generally do not occur. - In the B2B buying process, the search for information and evaluation of alternatives is more formal and structured.
- In the B2B buying process, the search for information and evaluation of alternatives is more formal and structured.
________ is well known for connecting businesspeople and is the largest network of business professionals. - Facebook - Twitter - LinkedIn - HootSuite - White papers
In terms of market size and population growth rate, which is a factor that impacts the marketing of goods and services? - Global population growth is equally dispersed among nations. - Growth has been relatively equal for both developed and less developed nations. - Marketing to more rural populations is more costly than reaching urban areas. - The growth rate of the world population will remain relatively constant in the future. - Population shifts are causing a decline in the percentage of people in the middle class.
- Marketing to more rural populations is more costly than reaching urban areas.
________ pertain(s) to the personal gratification consumers associate with the product or service. - Needs recognition - Functional needs - Demographic needs - Psychological needs - Personal needs
- Psychological needs Psychological needs pertain to the personal gratification consumers associate with a product or service
Autocratic buying centers are characterized by - a single decision maker. - collective agreement. - majority rule. - the solicitation of many opinions. - many decision makers.
- a single decision maker. In autocratic buying centers, one person makes the decision alone even though there may be multiple participants.
Firms prefer to manufacture in a country that has ________ because it signals a greater opportunity to export products to more markets. - a trade deficit - a trade surplus - low gross domestic product - a low level of exports - purchasing power parity
- a trade surplus
Generational cohorts corresponds to which demographic that is typically used to identify consumer markets? - age - gender - race - religion - income
- age
According to the consumer decision process, after consumers recognize the need for a product, they then engage in - psychological need recognition. - an information search. - an evaluation of alternatives. -the purchase of the product. - postpurchase behavior.
- an information search.
Firms that use ________ rely on computer systems to perform tasks such as speech recognition, decision making, or translations. - mobile marketing - Google - robotics - Internet of Things - artificial intelligence
- artificial intelligence
In a(n) ________ buying center, there may be many participants, but one person makes the decision alone. - autocratic - consensual - consultative - democratic - republic
- autocratic
The majority of products and services are likely to satisfy - functional needs. - psychological needs. - personal needs. - both personal and functional needs. - both functional and psychological needs.
- both functional and psychological needs.
What are the three components that make up a person's attitude? - cognitive, affective, behavioral - psychological, behavioral, social - perception, motives, needs - universal, evoked, reference - internal, external, habitual
- cognitive, affective, behavioral
The primary strength of Boeing is its ability to manufacture aircraft. This describes which factor of a Boeing consumer's immediate environment? - competitive intelligence - corporate partners - company capabilities - competitors - culture
- company capabilities
Erik was shopping for a new pair of sunglasses. Although he would have liked to take the sunglasses home immediately after purchasing them, he was willing to trade off immediate availability when he realized that he could purchase the sunglasses online for a 30 percent discount. This is an example of using a - determinant attribute. - compensatory decision rule. - noncompensatory decision rule. - decision heuristic. - conversion rate.
- compensatory decision rule.
At Cozy Curtains, all members of the team must reach a collective agreement that they can support regarding the purchase of a specific fabric. This is reflective of a(n) ________ buying center. - autocratic - consensus - consultative - democratic - collective
- consensus
At Heavy Steel Manufacturing, Jerome is the one person who is authorized to make a decision, but he gathers input from other departments before doing so. This is reflective of which type of buying center? - republic - autocratic - democratic - consensual - consultative
- consultative Consultative buying centers use one person to make a decision but solicit input from others before doing so.
Because not all purchase intentions result in an actual purchase, retailers calculate the ________ to measure how effectively a decision to purchase a specific product results in a completed purchase. - performance risk - compensatory decision rate - noncompensatory decision rate - decision heuristic - conversion rate
- conversion rate
General Motors engages in partnerships with its suppliers, component part makers, unions, transport companies, and dealerships—collectively known as its - investors. - customers. - competitors. - corporate partners. - customer franchisors.
- corporate partners.
When Disney and other global firms produce advertising where the pictures and ad copy stay the same—only the language changes, this is an example of an appeal to the same target market based on different - country cultures. - regional cultures. - generational cohorts. - countercultures. - demographics.
- country cultures.
Broadly defined, ________ is (are) the shared meanings, beliefs, morals, values, and customs of a group of people. - culture - demographics - social issues - psychographics - ethnicity
- culture
Yuan is involved in the buying center of a large organization. He ultimately will determine whether to buy, what to buy, how to buy, or where to buy. What role does Yuan play in this situation? - initiator - influencer - decider - buyer - gatekeeper
- decider
Kareem considered all shoe stores to be roughly equivalent in most ways; however, he considered Shoe Carnival stores to have an exceptional level of customer service. Customer service, therefore, would be considered a ________ for him in evaluating shoe stores. - determinant attribute - compensatory decision rule - noncompensatory decision rule - locus of control - retrieval set
- determinant attribute
If a firm is looking at market size and population growth rate, which component of a country market analysis does this represent? - economic analysis - gross domestic product - infrastructure and technology - governmental actions - sociocultural analysis
- economic analysis
When combined with data such as occupation and income, which demographic gives marketers a pretty accurate prediction of purchase behavior? - gender - education - ethnicity - generational cohort - religion
- education
When Whole Foods opened a store in the Englewood neighborhood of Chicago—an area that suffers from vacant buildings and a high crime rate—it charged lower prices on certain staple foods, including eggs and dairy, as part of its effort to - become more sustainable. - reduce the crime rate. - eliminate food deserts. - provide more convenient, packaged foods. - reduce food waste.
- eliminate food deserts.
Aisha has a strong desire to make the world a better place and is concerned with saving the planet. Therefore, she shops local, buys organic foods, and recycles regularly. Which of Maslow's needs does Aisha's actions fulfill? - financial - physiological - safety - love - esteem
- esteem
Aaron considered three important attributes when deciding which mechanic he wanted to use: the convenience of the location, hours of operation, and price for services. In this situation, these three attributes are called - attribute sets. - evaluative sets. - evaluative criteria. - formative criteria. - alternative evaluation.
- evaluative criteria.
The salient or important attributes about a particular product that consumers base their product evaluations on are called - attribute sets. - affective components. - evaluative criteria. - psychological decision rules. - situational factors.
- evaluative criteria.
Katrina is considering different brands of makeup to buy, but she can only think of three she would actually consider purchasing. These three brands make up her ________ set. - universal - retrieval - purchase - evoked - brand
- evoked
When Carlos was considering buying a new car, he sought out unbiased information and ratings about different makes and models in Car and Driver magazine. What corresponds most closely to this aspect of the decision process? - needs recognition - internal search for information - external search for information - experiential search for information - impulse buying
- external search for information
When a manufacturer offers a money-back guarantee on the purchase of its products to show that the products will perform as expected, it is most likely attempting to alleviate which risk? - psychological - social - financial - safety - physiological
- financial
The Internet of Things is used when - a customer utilizes a store's mobile app. - a customer uses a computer program to translate text into other languages. - firms replace customer service representatives with robots. - firms connect home devices to a customer's smartphone. - firms use cookies to track online customer purchases.
- firms connect home devices to a customer's smartphone.
What need pertains to the performance of a product or service? - need recognition - functional needs - demographic needs - psychological needs - cultural needs
- functional needs
Anka controls the flow of information as well as access to important decision makers in the company. She serves as the ________ in the buying center. - user - initiator - decider - influencer - gatekeeper
- gatekeeper
The processes by which goods, services, capital, people, information, and ideas flow across national borders are referred to as - globalization. - offshoring. - world trade. - internationalization. - exporting.
- globalization.
With its estimated outlay of $582.7 billion in fiscal year 2017, the Department of Defense represents which type of B2B organization? - manufacturer - distributor - reseller - institution - government
- government
Starbucks announced that it would eliminate plastic straws by 2020. This decision by Starbucks is an example of - greenwashing. - green marketing. - generational marketing. - segmentation. - green advertising.
- green marketing.
Firms that disingenuously market products as environmentally friendly with the goal of gaining public approval and sales, rather than actually improving the environment, are guilty of - greenwashing. - eco-selling. - eco-marketing. - greener advertising. - green promotion.
- greenwashing.
Which standardized metric of output is used to gauge the size and market potential of an economy? - the consumer price index - purchasing power parity - the producer price index - gross national income - gross domestic product
- gross domestic product
Whenever Laura buys shampoo, she always automatically reaches for the same brand and puts it in her shopping cart with no thought or effort. Laura is engaged in - habitual decision making. - limited problem solving. - impulse buying. - high involvement processing. - extended problem solving.
- habitual decision making.
Advertising guidelines stating that companies cannot link unhealthy foods with cartoon and celebrity figures pertain to which social trend? - sustainability - health and wellness concerns - greener consumers - privacy concerns - a time-poor society
- health and wellness concerns
Which framework for analysis is comprised of a company's capabilities, competitors, corporate partners, and the physical environment? - economic factors - environmental factors - immediate environment - intermediate environment - macroenvironmental factors
- immediate environment
Pharmaceutical companies have been criticized for direct-to-consumer television ads promoting the use of their brands of medication for specific medical conditions. With respect to buying centers, the pharmaceutical company plays the role of ________ in this situation. - initiator - influencer - decider - buyer - gatekeeper
- influencer
Alternative evaluation often occurs after the consumer has engaged in which step of the consumer decision process? - need recognition - information search - prepurchase behaviors - product purchase - postpurchase evaluation
- information search
Tatiana is conducting a country market assessment and is focusing on four key elements: distribution channels, transportation systems, communication systems, and commerce. In doing so, Tatiana is evaluating which component of the market assessment? - government actions - urbanization - infrastructure - economic analysis - sociocultural analysis
- infrastructure
Professor Leroy wants to use a new textbook in the marketing classes he teaches. He calls Sam, the textbook publishing's sales representative, who suggests three different books to Professor Leroy, pushing one book in particular. In this buying center, Professor Leroy is the ________ and Same is the ________. - initiator; influencer - user; advisor - decider; initiator - initiator; buyer - buyer; gatekeeper
- initiator; influencer The initiator is the person who first suggests buying the particular product or service and the influencer is the person whose views influence other members of the buying center in making the final decision.
In terms of business markets, organizations like colleges that provide services to people in their care are classified as - manufacturers. - producers. - resellers. - institutions. - governments.
- institutions.
The cost of borrowing money is measured by - inflation. - gross domestic product. - interest rates. - currency fluctuations. - tax rates.
- interest rates.
when a firm evaluates how other companies react to the firm's marketing activities, it is attempting to understand what aspect of the immediate environment? - the culture - the consumers - its competitors - its communicators - its corporate partners
- its competitors
Jamie loves Lululemon apparel for its style and comfort. She needs new yoga pants, so she purchases a pair at Lululemon. This is an example of which type of purchase decision? - extended problem solving - limited problem solving - deep processing - high involvement processing - habitual decision making
- limited problem solving
Culture, demographics, social issues, technological advances, economic situations, and the political/legal environment are all factors that make up which framework of analysis? - economic factors - environmental factors - immediate environment - intermediate environment - macroenvironmental factors
- macroenvironmental factors
In B2B markets, ________ are firms that buy and reprocess products and services before selling them again to the next buyer. - manufacturers - producers - resellers - institutions - governments
- manufacturers
College University decides to purchase new helmets for its football team. Although the University is considering some of the same elements as before, such as the look and color of the helmets, it wants them to include the newest technology to keep players safer. This is an example of which type of buying situation? - straight rebuy - standard rebuy - modified rebuy - new buy - capital buy
- modified rebuy
The business-to-business buying process is initiated by which step? - the RFP process - need recognition - proposal analysis - product specification - vendor performance assessment
- need recognition
The discrepancy between a consumer's actual state and desired state is associated with which step in the consumer decision process? - need recognition - information search - alternative evaluation - purchase - postpurchase
- need recognition
Tables Galore is looking for a wood supplier that can provide the materials for the manufacturing of its tables. The buying center proceeds through all six steps in the buying process and involves many people in the buying decision. This represents a ________ situation. - straight rebuy - standard rebuy - modified rebuy - new buy - capital buy
- new buy
The purchase of capital equipment by a company, which would likely be quite an involved process, is an example of a ________ situation. - straight rebuy - standard rebuy - modified rebuy - new buy - capital buy
- new buy In a new buy situation, goods or services are purchased for the first time, which means the buying decision is likely to be quite involved because the buyer or the buying organization does not have any experience with the item.
Most B2B buying situations can be categorized into three types: straight rebuys, modified rebuys, and - standard rebuys. - capital buys. - new buys. - repeat buys. - strategic buys.
- new buys.
A firm's ________ reflects the set of values, traditions, and customs that guide its employees' behavior. - marketing strategy - marketing plan - ethical climate - demographics - organizational culture
- organizational culture A firm's organizational culture reflects the set of values, traditions, and customs that guide its employees' behavior. The firm's culture often comprises a set of unspoken guidelines that employees share with one another through various work situations.
Although she wasn't told this when hired, at her new job Zahra notices that her coworkers eat lunch at their desks while continuing to work and that they dress casually on Fridays. These behaviors are most likely part of the - organizational culture. - business plan. - corporate values. - organizational demographics. - code of ethical conduct.
- organizational culture.
Dylan is in the market for a new laptop and is spending a considerable amount of time researching the various brands and models available. In contrast, he does not spend much time researching the purchase of an inexpensive kitchen appliance, like a toaster. This can best be explained by which concept? - locus of control - performance risk - psychological risk - social risk aversion - perceived benefits versus perceived costs of search
- perceived benefits versus perceived costs of search
Sophia thinks the west side of her city is a great area to own a home and raise a family. Yasir thinks the west side has too much crime, poor schools, and would be a poor choice of location to own a home and raise a family. Sophia and Yasir have different ________ regarding the west side of the city. - temporal states - reference groups - needs - perceptions - motives
- perceptions
Of the five types of risk associated with purchase decisions, which one involves the perceived danger inherent in a poorly performing product or service? - financial - social - physiological - performance - psychological
- performance
External agencies and government bodies publish safety ratings for cars to help consumers alleviate ________ risk. - performance - financial - physiological - social - psychological
- physiological
What is the correct theoretical progression of Maslow's hierarchy of needs, from the bottom of the pyramid to the top of the pyramid? - safety, esteem, love, physiological, self-actualization - physiological, safety, love, esteem, self-actualization - esteem, safety, self-actualization, love, physiological - self-actualization, love, esteem, physiological, safety - safety, physiological, esteem, self-actualization, love
- physiological, safety, love, esteem, self-actualization
What is a macroenvironmental factor included in the CDSTEP acronym? - energy consumption - consumer trends - social media - diversity - political/legal environment
- political/legal environment
Sometimes called buyer's remorse, ________ is the internal conflict that arises from an inconsistency between two beliefs or between beliefs and behavior. - an internal locus of control - postpurchase cognitive dissonance - self-actualization - an external locus of control - psychological risk
- postpurchase cognitive dissonance
Marketers that set unrealistically high consumer expectations of a product through advertising, personal selling, or other types of promotion may generate higher initial sales, but it will eventually result in ________ if the product fails to achieve these expectations. - high conversion rates - social risk - postpurchase dissatisfaction - unfulfilling decision heuristics - habitual decision making
- postpurchase dissatisfaction
Netflix uses ________ analytics to suggest which movies we should watch as well as to develop new content that it is confident we will like. - demographic - cost - predictive - regional - cultural
- predictive
The Uptown Performing Arts Studio has had the same sound system for the past 20 years. Concert-goers have begun to complain that the music doesn't sound very good and that in some sections of the theater you cannot hear anything. The owner of the Uptown Studio has decided it is time to replace the old sound system. After recognizing this need, the owner should proceed to which step of the B2B buying process? - vendor negotiation - order specification - product specification - RFP process - proposal analysis
- product specification
In this stage of the business-to-business buying process, firms are likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale. - the RFP process - vendor specification - product specification - vendor performance assessment - proposal analysis, vendor negotiation, and selection
- proposal analysis, vendor negotiation, and selection In the proposal analysis, vendor negotiation, and selection stage, the buying organization collaborates with critical decision makers to evaluate the proposals it receives and selects vendors.
The Economist's Big Mac Index, which suggests that exchange rates should adjust to equalize the cost of a basket of goods and services wherever it is bought around the world, is an example of which metric? - trade deficit - human development index - gross domestic product - gross national income - purchasing power parity
- purchasing power parity Purchasing power parity (PPP) is a theory that states that if the exchange rates of two countries are in equilibrium, a product purchased in one will cost the same in the other, if expressed in the same currency. The Economist's Big Mac Index is an example of this.
When looking for a new car, Abe considers both American- and foreign-made vehicles, but his father and friends both encourage him to buy an American-made brand. Which social factor explains this type of influence? - culture - temporal state - lifestyle factors - reference groups - situational factors
- reference groups
The acronym RFP, when used by those involved in business-to-business buying, stands for - request for pricing. - reorder for products. - request for products. - request for proposals. - request for performance.
- request for proposals.
When consumers are engaged in the consumer decision process, the specific brands or stores they can readily recall in a product category are referred to as their ________ set. - universal - retrieval - memory - evoked - brand
- retrieval
When 'Office Depot replenishes its supply of printer ink cartridges, it most likely involves a ________ situation. - new buy - standard rebuy - modified rebuy - straight rebuy - material buy
- straight rebuy
Mario is the buyer at Stirred Coffee and Tea. He is often the only member of the buying center involved in the process. This is an example of a - new buy. - standard rebuy. - modified rebuy. - straight rebuy. - material buy.
- straight rebuy. Straight rebuys occur when buyers simply buy additional units of products that they had previously purchased and the buyer is often the only member of the buying center involved in the process
When the U.S. government determined the prices of solar panels imported from China were artificially low due to illegal subsidies, it imposed a ________ to help domestic firms compete. - quota - exchange rate - boycott - tariff - dumping law
- tariff
The ability of marketers to use mobile applications to target and reach their customers more effectively is an example of which macroenvironmental factor? - technological advances - the political/legal environment - the culture - the economic environment - the natural environment
- technological advances
Although the trend of wealthy households outpacing both poor and middle classes is worldwide, it is particularly prominent in - Japan. - Africa. - China. - the United States. - Germany.
- the United States.
According to the elaboration likelihood model, which variable determines whether limited or extended problem solving will operate in a particular purchase decision? - purchase readiness - attentional capacity - likelihood of purchase - the level of involvement - the level of elaborate thinking
- the level of involvement
Because the United States imports more goods than it exports, it operates under a(n) - trade surplus. - trade deficit. - import surplus. - export deficit. - imbalanced trade agreement.
- trade deficit.
What is the final stage in the business-to-business buying process? - RFP process - vendor performance assessment - order specification - need recognition - proposal analysis and supplier selection
- vendor performance assessment In the sixth and final stage of the B2B buying process, firms analyze their vendors' performance so they can make decisions about their future purchases.
In the B2B buying process, ________ can provide tremendous cost savings for firms because they eliminate periodic negotiations and routine paperwork, and offer the means to form a supply chain that can respond quickly to the buyer's needs. - buying centers - RFPs - microblogs - web portals - web links
- web portals In general, a web portal is an Internet site whose purpose is to be a major starting point for users when they connect to the web. They can provide tremendous cost savings for firms because they eliminate periodic negotiations and routine paperwork, and they offer the means to form a supply chain that can respond quickly to the buyer's needs.
When executives confront an unfulfilled business need, they normally turn to ________ prepared by potential B2B marketers. - Facebook - Twitter - Linkedin - HootSuite - white papers
- white papers When executives confront an unfulfilled business need, they normally turn to white papers prepared by potential B2B marketers. White papers are a promotional technique used by B2B sellers to provide information about a product or service in an educational context, thereby not appearing like a promotion or propaganda
Which intermediary is an example of a reseller? - manufacturer - producer - wholesaler - institution - government
- wholesaler
In the immediate environment, what is the first factor that affects the consumer? the company itself the corporate partners the competitors the consumers the culture
the company itself