marketing quiz 2 Practice Q's
which type of business buying situation offers marketers not only the greatest opportunity but also the greatest challenge
a new task situation
______ refers to the set of values perceptions wants and behaviors learned by a member of society from fam and other important institutions
culture
fresh marketing information-based understandings of customers and the marketplace that become the basis for creating customer value, engagement, and relationships are called
customer insights
which of the following is NOT one of the specific ways in which companies can differentiate their market offeringsq
competitor differentiation
firms w limited resources often target a market niche that is either ignored or unimportant to larger firm. this represents
concentrated marketing
in which targeting strategy does a firm go after a large share of one or a few smaller segments
concentrated marketing
the _______ is a brands full positioning or the full mix of benefits on which the brand is positioned
value propisition
what determines whether the buyer is satisfied with a purchase of not
the relationship between the consumers expectations and products perceived performance
what is NOT a downside of internal databases
they are more expensive and time consuming to access than other info sources
which of the statement regarding business purchases is NOT true
they involve fewer decision participants than consumer purchases
one important considerations in using a differentiated targeting strategy is that
it can increase costs
customer insights come from good marketing information which contributes to creating value and meaningful customer relationships. companies use these customer insights to develop
a competitive advantage
The second critical phase in developing a marketing information system (MIS) is developing information. The information is developed from ________, __________, and ____________.
internal databases marketing intelligence activities marketing research
which is nOT one off the major public policy and ethics issues in marketing research today
intrusions on business privacy
one concern about the expanding use of e procurement for b to b purchasing is that
it can erode decades old customer-supplier relations
which adopter group is last to adopt a new product
lagging adopters
four major steps in designing a customer value driven marketing strategy in order
1. market segmenttion 2. market targeting 3. differentiation 4. positioning
eight steps in business buying decision process in order
1. problem recognition 2. general need descriptions 3. product specification 4. supplier search 5. proposal solicitation 6. supplier selection 7. oder Routine specification 8. performance reveiw
what are perceptual positioning maps used for
To show consumer perceptions of different brands on important buying dimensions
the marketing information system first ______
assesses info needs
what are the five stages of the consumer adoption process in order
awareness interest eval trial adoption
one problem with ______ is that most marketing managers are overloaded with data and often overwhelmed by it
big data
the huge and complex data sets generated by today's sophisticated information generation, collection, storage, and analysis technologies are referred to as
big data
the ______ market comprises all organizations that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit
business
a simple model of consumer behavior suggests that marketing stimuli and other major forces enter the consumers black box. this black box has two parts:
buyers characterisitics buyers decision process
which factor would make a target segment more attractive
challenging for new entrants to come into the segment
correct sequence of four steps of marketing research process
define problem and research objectives develop research plan implement research plan interpret and report finding
business marketers are increasingly connection w customers online and through digital mobile and social media to _______, and maintain ongoing customer relationships
engage customers share marketing info sell products and services provide customer support services
The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses.
exploratory
for which activity would a company extranet be used
for a supplier to check orders against inventories
the explosion in the mens personal care industry w many cosmetics brands now successfully marketing mens line is an example of ____ segmentation
gender
Which stage of the business buying decision process involves ranking the importance of reliability, durability, and price
general need description
major variables used to segment consumer markets
geographic, demographic, psychographic, behavioral
which of the following described the variable that marketers use to segment business markets that differ from the variables used to segment consumer markets
operation characterisitics purchasing approaches situational factos personal characterisitics
the sum of the ongoing experiences consumers have with a brand that affect their buying behavior engagement and brand advocacy over time is known as the
customer journey
Although business marketers use many of the same variables to segment their markets, they also use some additional variables, except
management factors
_________ is the analysis tools, tech, and processes by which marketers dig out meaningful patterns in big data to gain customer insights
marketing analytics
mavis loves her new iPhone but wonders if a Samsung not would have offered more benefits. this in an example of what
cognitive dissonance
which of the following is NOT among the major factors influencing consumer buying behavior
commercial
one factor influences adoption is _____ which is the degree to which the new product fits the values and lifestyle of consumers
compatibility
to target the best market segments, the company first evaluates various factors related to market attractiveness. of the following, which his not one of those factors
compatibility w company mission and vision
the council of American survey research organization s code of ethics for survey research outlines researcher responsibilities to survey respondents. according to the text, these responsibilities include which of the following
confidentiality privacy data security avoidance of harrassment
what are the three major public policy and ethical research considerations identified in the text
customer privacy customer data security and protection misuse of research finding
to analyze individual customer data, many companies have now acquired or developed special software and analysis techniques called
customer relationship management
in addition to segmentation and targeting, there are two other majopr steps in designing a customer value driven market strategy: ______ seeeks to create superior customer value in the mind of the consumer and ______ seeks to firmly place the market offering in the minds of target customers
differentiation; positioning
what is market segmentation
dividing a market into distinct groups of buyer who have different needs, characteristics, or behaviors who might require separate marketing strategies or mixes
advances in IT have dramatically affected the b to b buying process. online purchasing, often called ____ has grown rapidly in recent years
e procurement
technology advances have made b to b online purchasing possible. this is called
e procurement
Third step of the marketing research process calls for implementing the marketing research plan by
gathering processing and analyzing the information
Marketers are viewing information not only as an input for making better decisions, but also as a(n) ______________.
important strategic asset and marketing tool
which of the following correctly identifies the consumer market
individuals and households that buy goods and services for personal consumption
the second step in the buyer decision process might include seeking more info. sources of info vary. commercial sources normally ____ the buyer, but personal sources _____ products for the buyer
inform legitimize; evaluate
what are the three sources from which marketers can obtain info
internal databases marketing intelligence marketing research
the buying center and the buying decision process are influenced by ______ factors as well as _____ factors
internal organization, interpersonal, and individual; external environmental
which of the following is correct regarding international research
international researchers may have a tough time finding good secondary data
Some marketers face special marketing research situations, such as those conducting research in small business, not-for-profit, or international situations. International researchers deal with great variances in ________, __________, __________, and ___________.
levels of economic development cultures and customs being paterns scarcity of secondary data
which of the following statements regarding the business market is correct
many sets of business purchases are made for one set of consumer purchases
Companies apply ________ to dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.
marketing analytics
a _____ consists of the people and procedures dedicated to assessing information need, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights
marketing information system
how is marketing research different from competitive marketing intelligence
marketing intelligence gathers information about general consumer, competitor, and marketplace happenings. marketing research uses formal studies that provide customer and market insights for specific marketing situations and decisions
which type of positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs
more for more
five steps in the buyer decision process in order
need recognition info search evaluation of alternatives purchase decision post purchase behavuior
which of the following correctly identifies the three research approaches for gathering primary data
observation surveys experiments
in which step if the buying decision process is the final order w the chosen supplier developed
order routine specification
______ involves differentiating a market offering to occupy a clear distinctive and desirable place relative to competing products in the minds of target consumers
positioning
once a company has decided which segments to enter, it must decide on its ______ strategy
positioning and differentiation
software and analytical techniques that integrate, analyze, and apply the mountains of individual customer data to gain a 360-degree view of customers enable companies to
practice customer relationship management
the business buyer decision process itself can be quite involved, with several basic stages. the process beings with ______ and concludes with
problem recognition performance review
companies need meaningful customer insights so that they can
produce superior value for their customers
a value analysis engineering team may be associated with which stage of the business buyer decision process
product specification
motivation, perception, and learning are ______ factors that influence consumer buyer behavior
psychological
five characteristics that are especially important in influencing an innovations rate of adoption
relative advantage complexity compatibility divisilbility communicability
companies use ___ to put their b to b purchasing requests online and invite suppliers to bid for their businesses
reverse auctions
companies do e procurement in several ways including
reverse auctions trading exchanges company buying sites extranet links
to determine which market segments to target and serves, the company first evaluates which of the following for each segement
size and growth characterisitics structural attractiveness compatibility w company objectives and resources
what is NOT one of the four major influences on business buyer behaviuor
supplier selection
once segments have been identified, market ____ evaluates each segments attractiveness and selects one or more to serve
targetingf
the most common mistake firms make is to view CRM, marketing analytics and AI as
technology processes only
the full positioning of a brand is called the ________ which is the full mix of benefits on which a brand is differentiated and positioned
value proposition
buyers who face a new task buying situation usually go thru
all of the eight steps including performance reveiw
which of the following statement about marketing research in small businesses and non profits in correct
although the research methods of these firms are less complex and costly, they must be conducted carefully
when effective programs can be designed for attracting and serving market segments, these segments are
actionable
we define the ____ process as the mental process through which an individual passes from first learning about an innovation to final adoption
adoption