Mktg 351 Ch. 6-10

The North American Industry Classification System (NAICS) replaced the Standard Industrial Classification (SIC) system and divides industrial activity into _____ sectors compared to the SIC system which used _____ divisions.

20; 10

Apple operates manufacturing facilities in China in order to take advantage of low labor costs and high-quality production. Apple and other foreign firms operating in China are beneficiaries of the _____ which was established in 1989 to promote open trade and economic and technical cooperation among member nations. In addition, they are allowed to participate in a wide range of organization activities and have become increasingly competitive regarding global business.

APEC

The ______ differs from other international trade alliances in its commitment to facilitating business and its practices of allowing the business/private sector to participate in a wide range of organization activities.

APEC

Which of the following trade alliances differs from others in its commitment to facilitating business and its practice of allowing the private sector to participate in a wide range of activities?

APEC

Both you and your roommate are avid Internet and social media users. You both spend about 4 hours a day interacting with the Internet. Your roommate likes to post on sites like Facebook throughout the day. In fact, she is a member of just about every social media site on the Web. Your interest is more geared toward regularly communicating with anyone and everyone via Twitter. Which of the following statements is true regarding you and your roommate's use of the Internet?

According to the Social Technographics Profile, you are a "Conversationalist" and your roommate is a "Joiner".

Which of the following would be classified as an institutional buyer?

American Cancer Society

_______ are software programs that run on mobile devices and give users access to certain content and often provide convenience and cost savings to the customer.

Applications or apps

The _______ subculture is the fastest-growing demographic group in the United States and is also more educated with higher household incomes which make them an appealing target market for many companies.

Asian American

The 10 members of this trade bloc plan to increase their integration, but they do not plan to adopt a common currency or fully free labor flows between members. This describes which of the following trading blocs?

Association of Southeast Asian Nations

_____ refer to the group of people within a business who are involved in making business buying decisions.

Buying centers

Which of the following countries is not included in the North American Industry Classification System (NAICS)?

China

_____ is considered by some to have the potential to become the world's largest market and one of the most productive manufacturing nations.

China

_____________ is defined as the maximum percentage of market potential that an individual firm within an industry can expect to obtain for a specific product.

Company sales potential

Which of the following statements about the consumer buying decision process is true?

Consumers making limited decision making decisions may not go through all five steps of the process.

_________ occurs when a company hires a foreign firm to produce a designated volume of the firm's product to specification and the final product carries the domestic firm's name.

Contract manufacturing

Axe has been a successful marketer of men's body spray, deodorant, and antiperspirants and is a division of Unilever. Axe supports a variety of fragrances and releases new products which are supported by marketing efforts including racy advertising spots and a company-owned YouTube channel. Unilever utilizes a complex type of expert forecasting called the ________ where experts create initial forecasts, submit them to the company for averaging, and have the results returned to them so they can make individual refined forecasts. The procedure is iterative and may be repeated several times until the experts who are working independently reach a consensus. The process typically results in a very reliable sales forecast.

Delphi technique

______ demand is defined as demand for business products that stems from demand for consumer products.

Derived

_________ are defined as electronic media that function using digital codes.

Digital media

______ is another name for the European Union.

European Community

International business in the ________ has been negatively impacted by poor financial conditions in member countries, including Portugal, Italy, Greece, and Spain—affectionately known as the PIGS of the Common Market.

European Union

_____ are defined as government restrictions on the amount of a particular currency that can be bought or sold and may also limit international trade.

Exchange controls

_______ bring together buyers and sellers from different countries and collect a commission for arranging sales.

Export agents

A small, local business called Relics, which is a gift shop located in a medium-sized town of 250,000 people, relies on _________, the most popular social networking site in the world to share new product arrivals and encourage consumers to shop at its store.

Facebook

Janelle Monae, a singer, songwriter, recording artist, and label owner, launched her "Eephus Tour" which features other artists such as Deep Cotton, Jidenna, St. Beauty, and Roman GianArthur. The concerts are free but are invitation-only. Which social networking site would be best for Janelle Monae to publicize these concerts and provide an opportunity to interact with fans?

Facebook

Station 220 is a restaurant that is hosting a grand opening celebration in the next few days. They would like to create relationships with customers and potential customers and keep people updated on the activities and menu items. They would like to post photos and give people an opportunity to interact with the restaurant, its owners, and other customers. Which social networking site would be most useful for Station 220 to use?

Facebook

A market segment profile deals primarily with demographic characteristics. T/F

False

A person who has buying power also has the authority to buy. T/F

False

A traditional online auction occurs when an online buyer invites businesses to bid to supply the specified good or service in competition with each other. T/F

False

After identifying a group of potential customers by industry and location, the next step is to begin production. T/F

False

Connectivity refers to a customer's ability to regulate the information that is viewed. T/F

False

Consumers spend a lot of time and effort looking for products during limited decision making. T/F

False

Consumers view the illegal downloading of copyrighted materials as more unethical if the person's motivation is primarily for fun, then if it is for personal gain. T/F

False

Customer forecasting surveys as a means of forecasting sales are not appropriate for a firm that has relatively few customers. T/F

False

Despite emerging technologies, consumers are unchanging in their traditional information searches and consumption behaviors. T/F

False

Digital marketing is a term used for any electronic media that functions using digital codes. T/F

False

During the evaluation of relevant market segments, competitive assessment is used primarily to determine the possibility of additional competitors entering particular segments. T/F

False

Exporting, licensing and franchising, trading companies, contract manufacturing, and joint ventures are preferred modes of international market entry for firms with an export department structure. T/F

False

Government restrictions on the amount of a particular currency that can be bought or sold are known as import controls. T/F

False

Income is the key factor in determining a person's social class. T/F

False

Reciprocal dealing is widespread because it is one of the few avenues not regulated by the FTC, and it facilitates optimal purchases. T/F

False

The five-step process usually used for target market selection includes identifying the appropriate targeting strategy, determining which segmentation variables to use, developing market segment profiles, evaluating relevant market segments, and deciding which targeting strategy to use. T/F

False

There is strong research evidence that personality characteristics are major determinants of purchasing power. T/F

False

Walmart started out as a born global firm. T/F

False

Due to consumer concerns over privacy, the ____ is considering regulations that would limit the amount of consumer information that marketers can gather online.

Federal Trade Commission

One of the most significant privacy issues involves the use of personal information that companies collect from website visitors in their efforts to foster long-term relationships with customers. Due to consumer concerns about privacy, the _______ is considering developing regulations that would protect consumer privacy by limiting the amount of information that marketers can gather online.

Federal Trade Commission

Which organization is considering developing regulations that would protect consumer privacy by limiting the amount of consumer information that businesses can gather online?

Federal Trade Commission

Which product would most likely use age as a segmentation base when targeting customers?

Fixodent Denture Cream

One of the popular photo-sharing sites that allow users to upload and share their photos with the world is called

Flickr

The Lazy 6 Ranch is a dude ranch in Central Montana and enjoys using ______ to share images of the landscape, horses, guests, and special events that occur at the ranch via the Internet. The Lazy 6 Ranch also encourages visitors to share their photos and enjoys the opportunity to communicate with people around the world about the beauty of Montana and the pleasure of enjoying a vacation at the Lazy 6 Ranch.

Flickr

_______ is implemented when a company employs a standardized approach to marketing treating all countries or markets where their products are sold as a single entity—marketing standardized products in the same way in each market with no differentiation across markets.

Globalization

_____ markets are composed of individuals or organizations with diverse needs for products in a specific product class.

Heterogeneous

_____ are often utilized to produce revenue for a country and/or to protect domestic products from foreign competition.

Import tariffs

_______ is defined as the purchase of products from a foreign source.

Importing

Which of the following statements is true about e-marketing and the marketing mix?

In some cases, companies will only offer certain products via digital media, including the Internet.

_______ markets are defined as organizations with charitable, educational, community, or other nonbusiness goals.

Institutional

How has the Internet impacted supply chains?

It has streamlined supply chains.

Alibaba could classify as an independent B2B E-commerce site because _____.

It is a neutral third party that provides a trading forum for a fee

NAFTA makes it easier for U.S. businesses to invest in Mexico and Canada and simplifies country-of-origin rules which make it more difficult for ______ to use Mexico as a staging ground for further penetration into U.S. markets.

Japan

______ demand involves the use of two or more items in combination to produce a product.

Joint

_______ is(are) defined as a partnership between a domestic firm and a foreign firm or government and is especially popular in industries that require large investments such as automobile manufacturing.

Joint ventures

Which of the following is not a benefit to a franchisor such as Kentucky Fried Chicken in expanding into international markets?

Kentucky Fried Chicken has decreased penetration in global markets.

______________ is defined as an individual's degree of interest in a product and the importance of the product for that person. It is also a major determinant of the type of decision-making process employed by the individual.

Level of involvement

_______ can be a viable alternative when the political stability of a foreign country is in doubt. In addition, it's especially advantageous for small manufacturers wanting to launch a well-known brand internationally.

Licensing

_______ segmentation groups individuals according to how they spend their time, the importance of things in their surroundings, beliefs about themselves and broad issues, as well as some demographic characteristics.

Lifestyle

_________ is a consumer decision making style that consumers utilize when they are purchasing products occasionally or need information about an unfamiliar brand in a familiar product category.

Limited decision making

The United States is not part of which of the following trade alliances?

MERCOSUR

The ________ was established in 1991 under the Treaty of Asuncion to unite Argentina, Brazil, Paraguay, and Uruguay as a free trade alliance. It now also includes Venezuela, Bolivia, Chile, Columbia, Ecuador, and Peru as associate members representing approximately 67% of the South American market.

MERCOSUR

__________ is defined as the total amount of a product that consumers will purchase within a specified period at a specific level of industry-wide marketing activity.

Market potential

_______ are Internet sites that allow users to share photos, videos, and podcasts.

Media-sharing sites

In many developing countries around the world, technology is enabling opportunities to "leapfrog" existing technology. What does this mean?

More advanced technology is reaching these countries even though they lack technological infrastructures.

Rave Denim is a small, family-owned designer and manufacturer of denim products such as its signature blue jeans which retail for $195 per pair and are highly sought-after as a fashion brand. Rave Denim is considering expansion into international markets and has recently learned of favorable opportunities to export its products to Canada and Mexico. They have learned that _______ eliminated virtually all tariffs on goods produced and traded among Canada, Mexico, and the United States.

NAFTA

The ______ was implemented in 1994 and merged Canada, Mexico, and the United States into one market of nearly 454 million consumers.

NAFTA

Alejandra is an account executive for a heavy equipment distributor and received a call from a small landscaping company who is interested in purchasing a skid steer or Bobcat machine. The landscaping company has never owned or used a skid steer and doesn't know where to begin or the types of add-ons that they should also purchase. The company has purchased other equipment such as mowers and tractors but has never purchased a skid steer and plans to spend a considerable amount of time in the purchase process since this represents a significant investment for the company. What type of business purchase does this represent?

New-task purchase

Roots is a popular clothing brand with retail stores in Canada and is considering expanding its stores into the United States and Mexico. Which of the following would facilitate the expansion of Roots?

North American Free Trade Agreement

_________ by Nielsen, is commonly used by marketers to segment by demographic variables and combines demographics, consumer behavior, and geographic data to help marketers identify, understand, and reach their customers and prospects.

PRIZM

______ influence which establishments a customer frequents and marketers utilize this process by trying to determine why regular customers might visit a particular store more often and then utilize these factors in manipulating the marketing mix variables to more effectively appeal to those customers.

Patronage motives

Which of the following is an example of consumer misbehavior?

Switching price labels on two products in the store to get a lower price.

Which of the following is true about the European Union?

The European Union was established to promote free trade among its members.

What happens in a reverse online auction?

The buyer invites businesses to bid to supply the specified good or service in competition with each other.

The government decides to purchase a new fleet of fighter jets for the U.S. Air Force. What type of buying procedure is the government most likely to use?

The government will select a few firms and enter into negotiations with them until the contract is awarded.

The T-shirt House creates customized, screen-printed shirts for a variety of customers such as organizations, companies, and schools and began utilizing e-marketing by creating a website and Facebook page. The T-shirt House simply modified their newspaper advertising and Yellow Pages ads for the digital space when they first began to use e-marketing, but their efforts were not effective. Which of the following could explain why the T-shirt House's website and Facebook page efforts failed?

They treated digital marketing like a traditional marketing channel.

How does using an exporting intermediary limit the risk involved with global marketing?

This approach involves limited risk because the company has no direct investment in the foreign country.

Which of the following purchases is most likely completed using routinized response behavior?

Tiffany purchasing gas for her car

A marketer may segment a market in terms of the benefits that customers expect to receive from a particular product. T/F

True

An electronics store puts a large screen TV, wired for surround sound, in a quiet corner of the store with couches and a rug, and plays a recently released movie. These actions give the display the look of a family room or den. The store is using the physical surroundings as a way to influence purchase decisions. T/F

True

Because of continuing disputes and inconsistencies among the administrations of member states, it will be many years before the European Union truly becomes one deregulated market. T/F

True

Buying a sweater, wearing it for an event, and returning it the next day would be an example of consumer misbehavior. T/F

True

Contract manufacturing occurs when a company hires a foreign firm to produce a designated volume of the firm's product to specification and the final product carries the domestic firm's name. T/F

True

Digital online media marketing facilitates both price and non-price competition. T/F

True

Glendale High School would be an example of an institutional market. T/F

True

If long-term prospects look poor, a marketer may ultimately choose not to target a segment because it would be difficult to recoup expenses. T/F

True

Interactivity allows customers to express their needs and wants directly to the firm in response to its marketing communications. T/F

True

Internal digital media tools are good for teams working on a project requiring lots of documentation. T/F

True

Jon's colleagues at work want to take a skiing trip. Jon grew up in Colorado and learned to ski as a young child so the group consults him about the best slopes and ski gear needed for the trip. Jon's role is that of an opinion leader. T/F

True

Rather than wait for legislation to be passed regarding Internet rules, many web advertisers attempt self-regulation to govern how consumer information is collected and used online. T/F

True

Regardless of the extent to which a firm chooses to globalize its marketing strategy, extensive environmental analysis and marketing research are necessary to understand the needs and desires of the target market(s) and successfully implement the chosen marketing strategy. T/F

True

Some of the criteria used in the evaluation of alternatives stage of the consumer buying decision process are also used during the postpurchase evaluation stage. T/F

True

The undifferentiated strategy can be effective for an organization that has a homogeneous market and can develop and maintain a single marketing mix. T/F

True

Value analysis focuses primarily on the examination of the cost of products relative to design, quality, and materials used. T/F

True

When consumers conduct an online product information search, corporate-generated content appears more credible than consumer messages. T/F

True

When trying to estimate the purchases of a potential business customer, it is reasonable to suppose that there is a relationship between the size of the potential customer's purchases and a variable such as the number of personnel employed by the customer. T/F

True

According to the text, which country has the highest gross domestic product?

United States

_______ analysis is sometimes utilized during the search and evaluation stage of products/suppliers. During this process, companies may examine the quality, design, materials, and item reduction or deletion to acquire products or services in the most cost-effective way.

Value

The _____ promotes free trade among members and deals with the rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably, and freely as possible between nations.

WTO

Willie is shopping at the local CarMax for a new car and is reading the sticker information on a Mazda sedan. Willie has always thought highly of Mazdas and that they are reliable, sporty, and provide good value for the price point. Jessica, a sales representative at CarMax greets Willie and while talking about cars mentions that Mazda has just been affected by an airbag recall where airbags have failed to deploy during an accident. Willie just nods his head to acknowledge this information from Jessica. If Willie uses selective distortion, which of the following is most likely to occur

Willie believes that the recall situation is positive and shows that Mazda cares about its customers.

Business purchasing decisions are typically made by

a firm's buying center.

When the County Sherriff's office purchases laptop computers for use in the deputy vehicles, the purchase would be considered

a government purchase.

Yvonne and Garret are looking at information about how their organization's products could fit potential customers' needs. This information deals with demographic characteristics, product benefits sought, lifestyles, geographic factors, brand preferences, and usage rates. They are most likely looking at _____.

a market segment profile

Jessica Bond is a product manager for Crest toothpaste and is working to craft a description of customers who would most likely fit the intended target market for Crest with Whitening toothpaste. Jessica is including demographic characteristics, geographic factors, product benefits sought, lifestyles, and brand preferences in the description. Jessica is completing

a market segment profile.

Ben is a double major pursuing a degree in both Finance and Marketing. He's interested in obtaining a position as a personal financial advisor after graduation and is interning with a global financial services company. During his internship, he observes that the most successful advisors wear white shirts, dress very conservatively, keep their faces clean shaven, and read the Wall Street Journal to stay up-to-date with the latest business and world news. Ben starts to read the Wall Street Journal too and modifies his dress and grooming style to be more like the representatives whom he admires. Ben is influenced by

a reference group.

A shoe manufacturer in Italy is allowed to export a limited number of shoes to Russia and is an example of how Russia utilizes _______ to limit the amount of goods it will accept for certain product categories.

a trade embargo

The online media characteristic that enables marketers to obtain digital information is called

accessibitlity

JCPenney's website encourages visitors to register in order to maximize their use of the site. By gathering information about a consumer before a purchase is made, JCPenney is practicing ___________.

addressability

The characteristic of online media that is defined as the ability of the marketer to identify customers before they make a purchase is called

addressability

In what ways is digital or online media distinct from traditional marketing strategies?

addressability, interactivity, accessibility, connectivity, and control

Often, the Delphi technique is used in conjunction with an expert forecasting survey. The major objective is to ____.

allow experts to work separately to reach a consensus as to their forecasts

Recently diplomatic ties have improved between the United States and Cuba and consumers in the United States could soon benefit from the lifting of ________ on products from Cuba, such as cigars, rum, sugar, as well as fruits and vegetables. Due to this policy, the United States has suspended trade with Cuba due to human rights violations and political concerns.

an embargo

Kohl's created a(n )______ that consumers can download to their smartphones and has grown their user base to over 1 million monthly users. Once consumers begin using the technology, they can track their rewards and also receive awards. The technology is also linked to the company's loyalty program, Yes2You.

application or app

Smartphone users often download ______ that enable consumers to access additional information about companies and may offer convenience and cost savings offers.

applications

A(n) _______ is defined as an individual's enduring evaluation of feelings about and behavioral tendencies toward an object or idea.

attitude

Clayton enjoys playing video games and has both a PlayStation and XBox system. He prefers the XBox though and purchases more games for the XBox than the PlayStation. Clayton has formed a(n) _____ about XBox.

attitude

The three components of ______ are cognitive, affective, and behavioral.

attitude

Which of the following best characterizes the attrition rate for digital media channels?

attrition rate is very high

Mountain Dew has partnered with the company MediaSpike to appear in various mobile games, and an individual's ______ may be able to enjoy drinking the Mountain Dew beverage as part of the game.

avatar

Which product would most likely use an undifferentiated market segmentation approach to marketing?

beef

Target has been very innovative in creating partnerships with well-known brands to provide high quality but lower-priced products of items that are typically sold in department stores such as Macy's. For example, Target offers its Calphalon Kitchen brand of cookware at $120 for a set while a similar set of Calphalon Contemporary cookware sells at Macy's for $300. Target is appealing to customers who value the brand name of Calphalon and are sensitive to price. In this example, Target is utilizing _____ variables for market segmentation.

behavioristic

The Gap has recently produced a new line of athletic wear that closely competes with a designer label in its quality, utility, and appearance. However, it is about half the cost of the designer brand. Product managers for The Gap line plan to use price sensitivity, brand loyalty, and end use as variables to segment their target market. These are all _______ variables for market segmentation.

behavioristic

Verizon Wireless uses a segmentation strategy for its mobile phone and data packages based on market characteristics such as number of devices, amount of download capacity, and volume of minutes or text messages. Based on these variables, Verizon Wireless is using _______ variables for segmentation.

behavioristic

AMC Theaters that operate movie and entertainment locations across the United States may choose to segment its market based upon the frequency of visits to the cinema. For example, they might classify moviegoers into three groups including fanatical fans, moderate fans, or selective fans reflecting the frequency or number of movies an individual might see within a month. This is an example of market segmentation based on

behavioristic variables

Billabong was founded in Australia by surfer and surfboard shaper Gordon Merchant in the 1970s. Today, the brand has a strong presence and is known as a lifestyle brand for board-sports including skate, snow, and wake. Billabong has company-owned specialty stores located throughout the United States and plans to open additional outlets in the future. Billabong also markets their clothing and equipment through their website and catalog. Billabong would most likely use _______ variables as a segmentation base for its online and catalog sales but would benefit most from ______ segmentation to determine the locations for future company-owned stores.

behavioristic; geographic

Crest toothpaste is available in several different versions, such as Crest Whitening, Crest Tartar Control, Crest Whitening with mouthwash, and Crest Total Effects. Given these different variations of the product, it appears that the marketers of Crest are segmenting the market by using ____ segmentation.

benefit

Tide laundry detergent offers a variety of different versions such as Tide HE Liquid, Tide Liquid with Downy fabric softener, Tide Plus Sport, and Tide with Bleach. The different variations of the product offer consumers the opportunity to fulfill a need based upon their particular circumstances and what they desire in terms of how a detergent might clean their clothes. Tide is using _____ segmentation.

benefit

Papa John's received negative publicity concerning the quality of the contents used in making their pizza. The information in the news report was incorrect, and was corrected on the next newscast. However, Papa John's wanted to go further and respond to the issue by creating a web-based journal that gives accurate information about Papa John's and the ingredients they use. This journal is an example of a(an) _____________.

blog

Shannon Griffin owns a fishing and outdoor specialty store in southern Louisiana and caters to locals and tourists who want to spend time fishing, kayaking, or biking. In addition to her website and Facebook presence, she writes a _______ where she can share her personal perspective about life on the bayous, photos, and recipes. She enjoys the opportunity to interact with other Internet users.

blog

Web-based journals utilized by writers who can editorialize and interact with other Internet users are known as

blogs

Web-based journals where writers can editorialize and interact with other Internet users are called ______, which can lead to sales of a product or service if a positive review is posted.

blogs

Because Skype was an Internet firm, it was not faced with some of the limitations many other companies encountered. It adopted a global orientation from the outset. Since Skype is an application that allows for video chat services, it quickly grew popular worldwide. Eventually, Microsoft acquired Skype for $8.5 billion. Skype is an example of what type of firm?

born global

Companies that are described as ________ were founded with the knowledge and resources to expedite their commitment and investment in the global marketplace and typically represent small technology-based firms that earn as much as 70% of their sales outside their domestic home market.

born globals

A company can utilize two different methods to determine its company sales potential. The _____ method begins with the marketing manager first developing a general economic forecast for a specific time period.

breakdown

The owner of the remodeling company, Windows & More believes that sales for replacement windows, siding, sunrooms, and awnings will continue to be strong as more consumers decide to stay in their homes rather than upgrade to a larger, more expensive home. Therefore, based on the economic projections of stable levels of inflation, low to average income growth, but rising costs for some products, he forecasts his sales for the year based on these economic indicators. The owner of Windows & More is using a _______ approach to estimating sales potential.

breakdown

Kohl's is a traditional retail store but is devoting more attention to online sales and attempting to generate a greater proportion of business through the Internet. The retailer is characterized as a _____ retailer for maintaining both a traditional retail store and online presence.

bricks-and-clicks

Martin Engineering sells conveyer belt systems and cleaning tools such as scrapers that are utilized in mining operations such as coal and mineral mining. He contacts one of his largest customers, Peabody Coal to discuss the company's needs for cleaning tools, conveyer belts, and scrapers for the next fiscal year. Martin Engineering next utilizes this information as a multiplier to calculate the amount of products that potential buyers might purchase in the next year. Martin Engineering is using a ______ approach to measure sales potential.

buildup

The _____ method to measure a company's sales potential begins by estimating how much of a product a potential buyer in a specific geographic area will purchase in a given period.

buildup

Marketers segment _____ markets according to geographic location, type of organization, customer size, and product use.

business

When Dell Computer Company purchases Seagate hard drives for use in producing computers, Dell is part of the _____ market for hard drives.

business

Which of the following best characterizes the problem recognition stage of the buying decision process?

buyer recognizes a discrepancy between a desired state and an actual condition

U.S. Foods provides food products to institutions such as hospitals, nursing homes, schools, and large companies who offer food services. The director of food service is the only person at St. Joseph hospital who has the authority to sign contracts and is meeting with the account executive from U.S. Foods who is providing some information about new products that could be added to the hospital menu for patients and guests. The director of food service recommends that the account executive meet with the chef to discuss which new products the chef would like added to the order. The director of food service believes that the chef should have the ability to determine what food products he'd like to offer. In this case, the director of food service is acting as a ______, while the chef is a(n) ______ member of the buying team.

buyer; decider

Individuals who are members of the buying center and serve in a purchasing agent capacity are also called

buyers

A basic requirement of a market is that the consumer possesses the ability to purchase the product or service. This requirement is a function of a consumer's

buying power.

Using the breakdown approach to sales potential, estimates are made _____.

by starting with general economic conditions

Which of the following is a disadvantage of reciprocity?

can result in less-than-optimal purchases for the buyer

One method of organizing information during the process of perception is called _________ which occurs when a person fills in missing information in a way that conforms to a pattern or statement.

closure

Anna recently purchased a Keurig coffee maker and thought she would really enjoy the variety of using different K-cups for tea, coffee, or hot chocolate. However, she's wondering whether she should have purchased an espresso machine instead of the Keurig. What phenomenon is Anna experiencing?

cognitive dissonance

Shari is a sales representative for a global chemical supply firm. She recently signed a contract with a consumer goods manufacturer and the first shipment of chemicals arrived at the company's manufacturing plant. Shari contacted her customer to check to see if the customer had any questions or problems with the shipment. Shari also reminded the customer about how the chemical company is highly regarded as one of the best companies in the industry and will do everything they can to make sure customers are happy. What phenomenon is Shari trying to prevent by contacting her customer?

cognitive dissonance

Devon recently purchased a new XBox system but his friend, Colin has a new Playstation system and really likes it. Devon is wondering whether or not she made the right choice in purchasing the XBox system. Devon is experiencing

cognitive dissonance.

The Social Technographics Profile developed by Forrester Research groups the online community into various segments according to how they interact with digital media. Individuals who gather information and organize content generated by critics and creators are classified as

collectors

The Social Technographics Profile developed by Forrester Research groups the online community into various segments according to how they interact with digital media. The ____ segment typically is the smallest compared to other groups.

collectors

The Buckle, based in Kearney, Nebraska, operates approximately 500 stores across the United States and is known for its denim which they design to fit a wide variety of body shapes and preferences for style for men and women. The Buckle has forecasted that it can sell 15% of all jeans or denim sold in the United States. This percentage represents The Buckle's _________ for denim.

company sales potential

All of the following are one of the major categories of market segmentation variables except -competitive. -demographic. -behavioristic. -psychographic

competitive

A(n) ____________ targeting strategy is one in which an organization targets a single market segment using one marketing mix.

concentrated

Forever 21, the clothing and fashion retailer targets females aged 11 to 18 who are interested in the latest fashion and styles at affordable prices. It uses the same marketing mix to reach this target market and incorporates a(n) __________ strategy.

concentrated

Justin Squires is a brand manager of a popular sports apparel and shoe company and works primarily with the running shoe product category. Justin knows that there are many different types of runners who could be a good market segment for his category. However, he prefers to use a _____ targeting strategy by implementing just one marketing mix and focusing on the elite or high-distance runner who often competes in local, regional, or national races and averages over 100 miles per week in training. This segment of runners purchases more shoes annually since shoes must be replaced every 500 miles or so and are willing to spend more money on their shoes since they are so involved with the sport.

concentrated

The ProMark Company manufactures a pencil that is about five inches long and has no eraser. It sells the product primarily to universities. What type of targeting strategy is the ProMark Company using?

concentrated

The company Patek Philippe is known for its high-quality, Swiss-made watches priced at $20,000 and above and targeted to a very upscale target market that could afford to pay $20,000 or more for a watch. The advertising for Patek Philippe's watches says "You never actually own a Patek Philippe, you merely look after it for the next generation." What type of targeting strategy does Patek Philippe utilize?

concentrated

The characteristic of online media that provides the ability of consumers to be linked with marketers along with other consumers is called

connectivity

Jackson enjoys cycling and is in the market for a new bicycle. He's fairly knowledgeable about bikes and knows most of the major brands such as Trek, Cannondale, Specialized, and Giant and will likely purchase one of these brands. These four brands are part of Jackson's _________ set.

consideration

A a(n) _______ is defined as a group of brands within a product category that a buyer views as alternatives for possible purchase.

consideration set

Brandon is shopping for a new convertible and is considering an Audi, BMW, Mercedes Benz, or Porsche. These four brands make up Brandon's

consideration set.

Cody is an avid music fan and has thousands of songs on his computer and smartphone. He has purchased some of the music through iTunes but has also received copies of music from his friends. He doesn't mind sharing his music purchases with his friends too—what could it hurt? He has heard that the music industry and various artists are upset over people sharing their music in this way. Cody's illegal sharing of music is an example of ________ which is estimated to cost the electronics and entertainment industries over $50 billion annually.

consumer misbehavior

Target was negatively impacted by an international gang of computer hackers who were able to penetrate Target's database and stole information such as names, addresses, credit card account numbers, and digital passwords. This type of activity is called

consumer misbehavior.

Misty enjoys taking her daughter grocery shopping with her and often gives her daughter some items to find in the store. Misty's daughter knows the brands that the family likes—for example, they like Coke versus Pepsi, Crest versus Colgate, and Cheer versus Tide. Misty's daughter is engaged in the process of __________ through the shopping process.

consumer socialization

Shaun is going shopping with his dad to buy his first baseball glove for Little League. He listens to his dad talk to the salesperson at the sporting goods store, watches him examine the stitching in the glove, and then rubs his finger over the leather palm. Shaun's observations are part of his _____.

consumer socialization

There are a number of situational influences that impact the consumer's buying decision process. Which of the following is one of those influences?

consumer's mood influences

Digital and e-marketing have created exciting opportunities for marketers; however, it is essential to recognize that social media are more _________ than traditional media.

consumer-driven

One trend that has caused consumer-generated information to gain importance is _____________.

consumers' tendencies to trust other consumers over corporations

A trend that led consumer-generated information to increase in importance is

consumers' tendencies to trust other consumers over corporations.

In response to digital marketing strategies, consumers are changing their information searches and _______ to fit with the emerging technologies and trends.

consumption behaviors

The North American Industry Classification System (NAICS) _____.

contains the most up-to-date information for the NAFTA partners

Nike uses _______ in Vietnam to produce many of its athletic shoes at a specified level of volume to their exact specifications.

contract manufacturing

The fashion giant H&M was recently named as one of the retail brands that use ______ to manufacture garments in Bangladesh where workers were victims to a fire that killed over 100 people. The retailer and other companies that participate in Bangladesh's garment industry have signed a legally binding agreement to improve safety in the factories they operate in and will increase safety inspections to protect workers.

contract manufacturing

Companies such as ULTA Beauty often utilize sweepstakes and games to generate customer visits to the website. However, the _______ characteristic of online media ensures that customers have the ability to select which websites they visit and how they wish to engage with the marketer.

control

Rocky enjoys shopping for cars and likes to browse eBay Motors. He appreciates the capability that eBay offers to filter the search by specific terms such as brand of vehicle, make or model, number of miles, type of seller, transmission, and color. He can easily and simply reduce the number of vehicles that appear in the search by using these simple filtering requests. eBay Motors is taking advantage of _____, one of the characteristics of online media.

control

The ability of consumers to regulate the information they access as well as the rate and exposure to information is called the _______ characteristic of online media.

control

Jessica enjoys spending approximately two hours daily using social media sites such as Facebook, Pinterest, Instagram, and Twitter. She often posts several pictures or status updates throughout the day and enjoys the chance to voice her opinion about restaurants or products that she's purchased. Her boyfriend, Dillon only uses Twitter and likes to follow his friends and favorite NBA players such as LeBron James and Stephen Curry but rarely posts updates. According to the Social Technographics Profile, Jessica would be categorized as a ________ and Dillon would be classified as a ________.

conversationalist; joiner

What countries are members of the Southern Common Market (MERCOSUR)?

countries in South America

Many companies, such as Anne Taylor, invite bloggers to their fashion shows and public relations events in the hope that they will include Anne Taylor clothing in their blog posts and provide information about Anne Taylor to their followers. In this example, bloggers could be characterized as being part of the _______ social technographic group.

creators

The Social Technographics Profile developed by Forrester Research groups the online community into various segments according to how they interact with digital media. The consumers who are described as constructing their own media outlets such as blogs, podcasts, consumer-generated videos, and wikis are called

creators

The Social Technographics Profile developed by Forrester Research groups the online community into various segments according to how they interact with digital media. _______ are becoming increasingly important to online marketers as a conduit for addressing consumers directly since they are engaged in generating content such as blogs, podcasts, videos, and wikis.

creators

Consumers who utilize the popular app and taxi service, Uber, are required to rate the service of the driver via the app and can also provide comments. This example would relate to the _______ role of the Social Technographics Profile.

critics

A French clothing company is excited about the opportunity to expand its market to other members of the EU and realizes that over time consumers in the EU may become more homogeneous in their needs and wants. However, the company should recognize that _____ differences among the nations may require modifications in the marketing mix for customers in each nation.

cultural

Johnston Chemicals' president is very excited about the possibility of the firm's British subsidiary having access to customers in the entire EU. He realizes that it will be some time before this area truly becomes one market, primarily because of differences in which of the following?

cultural factors

The concept that morality varies from one culture to another and that business practices are differentially defined as right or wrong by each culture is termed

cultural relativism.

Which of the following is most likely to lead to acceptance of a new product being introduced from one country to another?

cultural similarities between the two countries

Social influences are forces that other people exert on buying behavior and are divided into five major groups including family, roles, opinion leaders/reference groups, social class, and

culture/subculture.

An appropriate method of developing sales forecasts for companies with a relatively small number of customers is

customer forecasting survey

Selling products that are not in demand in all world markets, such as hand-powered washing machines for use in countries where electricity is not universally available, represents an international marketing strategy focusing on _________.

customization

If demand for a business product is inelastic

demand will be based on the number of items purchased

Greenview Landscaping provides full-service landscaping services for new construction and established homes. Greenview typically caters to individuals who are married, two-income earners in the family, with annual incomes over $200,000. Greenview Landscaping is using _________ variables to segment its market

demographic

Greenview Landscaping provides full-service landscaping services for new construction and established homes. Greenview typically caters to individuals who are married, two-income earners in the family, with annual incomes over $200,000. Greenview Landscaping is using _________ variables to segment its market.

demographic

Rainbow Outdoor is a family-owned business that sells play systems, basketball goals, and trampolines. They also install fence systems and tennis courts. Rainbow Outdoor has had the most success targeting families with children under the age of 15 and incomes of $100,000 or more. Rainbow Outdoor is using _________ variables to segment its market.

demographic

Secret utilized the tagline, "Strong enough for a man but made for a woman" in the early 1970s and the message is still strongly associated with the product and its line of deodorants and antiperspirants. What type of segmentation variable is Secret utilizing for its deodorant products?

demographic

A marketer that is using segmentation to reach a consumer market can select one or several variables. Which of the following correctly specifies the four major categories of segmentation variables?

demographic, behavioristic, psychographic, and geographic

PRIZM by Nielsen, is commonly used by marketers to segment by _____ variables and can also be used to segment by __________.

demographic; lifestyles

Which of the following is not a type of demand for business products? -joint -derived -dependent -fluctuating

dependent

Apple purchases Gorilla Glass from Corning to manufacture the screens on iPhones and iPads. Most consumers keep their phone equipment or tablet computers two years or more and may need to replace a broken screen during that time and repair at an Apple authorized dealer. The demand for Gorilla Glass for Apple and replacement parts is most likely

derived

Demand for business products is ______ because producers purchase products for direct or indirect use in the production of goods and services in order to satisfy consumers' needs.

derived

Justin works for a mill that provides traditional corn and wheat products, as well as gluten-free products. He has noticed that bakeries and packaged goods manufactures have increased the amount of gluten-free products they are purchasing and seem to be purchasing a greater volume of gluten-free products compared to traditional products. Justin is also noticing a large variety of gluten-free items on store shelves, such as pasta, cookies, and bread. Therefore, the demand for gluten-free products from Justin's mill is

derived

According to the text, the second step in the target market selection process is to

determine which segmentation variables to use.

The target market selection process includes five steps that should be followed sequentially. Once an organization has identified the appropriate targeting strategy and determined which segmentation variables to utilize, they would next

develop market segment profiles.

What is the second stage of the business buying decision process?

develop product specifications

Colgate manufactures and markets several varieties of toothpaste such as Colgate Optic White Whiten & Protect, Colgate Sensitive Complete Protection, and Teenage Mutant Ninja Turtles—Mild Bubble Fruit Toothpaste to name a few. These products are designed to appeal to different markets with specific marketing mixes for each segment. Colgate is using a(n) __________ targeting strategy.

differentiated

Frito Lay's Doritos snacks appeal to a wide range of consumers for consumption in their homes, and now through a partnership with Taco Bell, Doritos brand shells under the name "Locos Tacos" are available in Taco Bell. What type of segmentation strategy is Frito Lay utilizing with the Doritos and Locos Tacos products?

differentiated

Lenovo has a variety of computer models to serve distinct consumer needs. A small tablet computer is targeted to young children, a sleek but powerful laptop is targeted to business people who frequently travel, and larger desktop models are targeted to businesses that purchase the computers for workers who use their computers at their desk in the office. What approach to market segmentation is Lenovo utilizing?

differentiated

The Cannon Mills Company markets towels and linens using the brand name, Fieldcrest. Fieldcrest is sold at a variety of retail outlets including Macy's, Target, and Bed, Bath, & Beyond. The Cannon Mills Company offers a variety of models of Fieldcrest products to appeal to customers who are interested in owning the "best" products, those that are "good" and those that are in between. For example, at Macy's the Fieldcrest Luxury bath towels sell for $15, Bed, Bath & Beyond sells the Fieldcrest Resort towels for $12 each, and Target sells the Fieldcrest Home towels for $8 each. Cannon Mills Company is most likely using a(n) ________ targeting strategy.

differentiated

The Pillsbury company defines all individual consumers who are purchasers of flour as its target market. It also defines all businesses who purchase flour as its target market. What targeting strategy would be most appropriate in this case?

differentiated

Bremer Jewelry store has five locations in a regional market of about 1 million customers and considers itself to be an innovator in the use of _____ to communicate with customers via its company website, Facebook, Twitter, and blog.

digital marketing

The use of digital media, including the Internet and mobile and interactive channels to develop communication and exchanges with customers is

digital marketing

Wilson Sporting Goods serves its regional market with equipment and uniforms for Little League, junior high, and high school athletic teams. They have embraced new technology and consider themselves innovators in the use of _____ to communicate with their customers via its company website, Facebook, Twitter, and blog.

digital marketing

Sound Systems is a custom installation and distributor for high-end stereo systems for the home or automobile. Sound Systems utilizes _______ that functions using digital codes that's available via computers, cellular phones, smartphones, and other digital devices as part of its business activity.

digital media

Today's consumer is changing their information searches and consumption behaviors to fit with emerging technologies and trends. Epiphany Farms is an organic farm specializing in vegetable and meat products and also owns a farm-to-table restaurant. The restaurant is implementing _______ that functions using digital codes that are available via computers, cellular phones, smartphones, and other digital devices as part of its business activity.

digital media

A company that makes a long-term commitment to marketing their products or services in a foreign country that offers both a promising market opportunity and a stable political and economic environment should consider ________.

direct ownership

Toyota has established manufacturing operations across North America and just announced plans to build a state-of-the-art plant in Guanajuato, Mexico, that will produce the popular Corolla model. Toyota has engaged in _______.

direct ownership

You have been invited to attend a meeting of a special interest group that a good friend is a part of. You accept the invitation and agree to attend the group's next meeting. After attending the meeting, you realize you are passionately opposed to everything the group stands for. You tell your friend you never want to attend another meeting or associate with anyone who is a part of that group. However, you will make a special allowance for your friend. In terms of social influences, which of the following terms best describes the group as it relates to you?

dissociative reference group

Mario and his friend have been talking about their love of Bose headphones and speakers. Mario's friend mentions a consumer report that he read the week before that stated Bose products had higher prices but lower quality than in previous years. Mario thought to himself that perhaps his friend had misread the report, because Bose had always been the best. This perceptual process is known as selective _____.

distortion

Firms who adopt e-marketing strategies must consider making changes to its marketing mix variables. Which aspect of the marketing mix would relate to the ability to process orders electronically, reduce inefficiencies, costs, and redundancies while simultaneously increasing speed throughout the marketing channel?

distribution

The ability to process orders electronically and increase the speed of communications via the Internet reduces ______________.

distribution costs

High Plains Furnishings, a furniture manufacturer in southern Montana, markets its furniture products in markets within the United States. It has also found several niche target markets in Finland, Chile, and Argentina. High Plains Furnishings is engaging in ___________.

domestic marketing and limited exporting

Limited Pottery makes hand-crafted pottery and dining sets and markets its line of products throughout the United States in specialty stores. It has also several relationships with distributors in France, Germany, and Sweden who represent the company and sell the product to retailers in those countries. Limited Pottery is engaging in which type(s) of global marketing?

domestic marketing and limited exporting

Which of the following represents a limitation of the North American Industry Classification System (NAICS)?

double counting may occur when products are shipped between two establishments within the same firm

If Hyundai, a Korean automobile manufacturing firm, started selling its cars at unfairly low prices to Germany, Hyundai would be engaging in __________.

dumping

Recently, the European Commission launched a(n) ________ investigation related to allegations that Russia and China were selling cold-rolled flat steel products—used in cars and home appliances—at below market prices in the EU market "causing material injury" to the EU industry.

dumping

The selling of products at unfairly low prices is known as

dumping

What term is used to refer to the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and digital marketing?

e-marketing

A beverage company is considering international expansion and knows there could be differences related to _______ forces, such as differences in standards of living, credit, buying power, and income distribution.

economic

Global companies are becoming more adept at managing their products, sourcing, and pricing in ways that realize the most profit and must be aware of concerns such as currency exchange rates when conducting their business and exporting products from one country to another country. For example, a U.S.-based company that sells product in Canada must price in Canadian dollars. The level of inflation or deflation and the relationship between the U.S. dollar and Canadian dollar will affect the price that customers will be willing to pay for the products as well as the profit margins realized by the U.S. firm. This is an example of the _______ force which affects international marketing activities.

economic

As discussed in the text, consumers utilize three different types or styles of decision making when making purchasing decisions. Which of the following products would most likely involve limited decision making?

electric razor

Sophia is an avid bicyclist and subscribes to cycling magazines and is a member of a local cycling club. She competes in triathlons and enjoys spending time on her bike to stay in shape and to socialize with others who enjoy the sport. She's in the market for a new bicycle —one that is lighter in weight and better designed for triathletes. Purchasing a new bicycle will be affected by Sophia's _____ involvement.

enduring

Justin is purchasing his third car in the past five years. He has been a car enthusiast ever since he was a young boy. Justin likes to spend his free time looking at car magazines, going to car shows, and watching NASCAR. Justin's interest in cars is referred to as _____.

enduring involvement

Ross is an avid music fan and enjoys outdoor concerts and keeping up with his favorite bands. He often attends two to three concerts each month and will travel quite a distance to see his favorite bands in concert. He knows the names of band members, has most of the words to songs memorized, and follows the musicians on Facebook and Twitter. Ross is hoping that he can pursue a career in the music industry so he can combine his passion for music with his occupation. Ross's interest in music is known as

enduring involvement

Firms that enter international markets often find that they must make significant adjustments in their marketing strategies since the forces impacting foreign markets are distinct from those affecting domestic markets. Therefore, a successful international marketing strategy requires a careful _____ analysis.

environmental

The four major factors influencing business buying decisions are

environmental, organizational, interpersonal, and individual.

U.S. manufacturers utilizing contract manufacturers in China have faced increased concerns about intellectual property and gray market goods. For example, a walk through any of China's open-air markets will demonstrate the frequency with which foreign firms' logos and merchandise are available, such as the famous Burberry beige-black-and-red pattern scarf, Coach purses, and Caterpillar-logo shoes. This exemplifies the impact of _______ forces on international business.

ethical and social responsibility

Member countries of the European Union utilize a common currency, called the _____, except for _______.

euro; Denmark

When governments restrict the amount of a particular currency that can be bought or sold, it can force businesses to conduct business through a central agency such as a central bank. These restrictions are known as _______.

exchange controls

When marketing managers utilize the ________ method of developing sales forecasts, intuition is heavily influenced by recent experience such that a manager may weight recent sales booms or slumps higher and result in a less accurate forecast.

executive judgment

Companies may utilize _____________ to develop sales forecasts where experts outside the firm such as economists, management consultants, advertising executives, or college professors are hired to prepare and present forecasts or answer specific questions for the firm.

expert forecasting surveys

Exporting, licensing, and using trading companies are preferred modes of international market entry for firms with a(n) ____ structure.

export department

SUP ATX is a manufacturer and marketer of stand-up paddleboards and sells its boards to companies in Australia. Which of the following best characterizes SUP ATX?

exporter

Thirty-thirty Coffee is a national coffee roaster that sells coffee to restaurants and coffee shops. They are considering opportunities to expand internationally since they have won many awards for their coffee and believe their product could be successful in other countries. However, the company has never conducted business outside of the United States and does not have the capitol to conduct marketing research to identify the best market opportunities for their products. What type of business could best enable Thirty-thirty Coffee to explore its opportunities with little risk and no foreign direct investment?

exporting

Carmen has recently become engaged and is starting to plan her wedding. She's using Pinterest and has purchased a variety of wedding magazines to get inspired for her big day. She's going shopping with some friends for a wedding dress and will likely visit four or more stores in her hometown as well as major cities within a one or two hour drive from her home. She hopes to find a dress that matches her expectations for this very special occasion and is willing to spend considerable time to find just the right dress. What type of decision-making process is Carmen utilizing for her wedding dress purchase?

extended decision making

Extended decision making is defined as a process employed when purchasing unfamiliar, expensive, or infrequently purchased items. Which of the following purchases would best fit this style of decision making?

extended decision making

Pablo is recently graduated from college and is planning to buy a new vehicle. He's interested in a sporty sedan and plans to take 1-2 months to test drive different vehicles, read car reviews in online forums or magazines that compare the various makes and models, and talk with the credit union about a car loan. What type of decision-making process is Pablo utilizing for the upcoming vehicle purchase?

extended decision making

Simon and Jessica are empty nesters as their children are all living independently on their own. Jessica wants to purchase new living room furniture since the old furniture was purchased when the kids were young and is starting to look worn out. What type of decision making would Jessica and Simon utilize when purchasing new furniture for their living room?

extended decision making

Which of the following activities are not conducted by the World Trade Organization (WTO)?

extends business loans through the World Bank

Jeff needs to buy his textbooks for the coming semester of college. It is only two weeks before the first day of class, and he still has not made a purchase. Jeff wants to buy them somewhere other than the bookstore since he is still living at his parents' home and won't be on campus until the day before class. Jeff goes online and looks for sites that sell the textbook. Then he remembers that one of his friends had said something earlier about finding the book for a great price. Jeff then calls his friend to get the name of the site. In terms of Jeff's buying decision process, his going online to look for sites was part of _______, and his calling a friend was ______.

external information search; also external information search

New information technologies such as social media represent a tremendous opportunity because they ______________ while significantly ______________.

facilitate communications; reducing costs

Which of the following is an advantage of using a concentrated targeting strategy?

firms can develop a special marketing mix for a single market segment

​The target market selection process involves _______ steps. The first step is ____________, and the last step is _____________.

five; Identify the targeting strategy; Select the target market

Demand for business products is derived from consumer demand which may fluctuate over time. When consumer products are in high demand, producers buy large quantities of raw materials to meet demand. On the other hand, a decline in demand for certain consumer products reduces demand for business products. This is known as _____ demand.

fluctuating

A salesperson at Best Buy tells Donovan that the Sony Notebook is one of the most reliable computer notebooks ever made. Donovan, however, has just heard about a second Sony recall for this model because of overheating. If Donovan engages in selective distortion, his most likely response will be to ____.

forget the information from the salesperson

A form of licensing in which a company grants another entity the right to market its product, using its name, logo, methods of operation, advertising, products, and other elements associated with the original business in exchange for a financial commitment is called

franchising

The Hard Rock Café operates gift stores and restaurants in major cities across the United States and select cities around the globe. The Hard Rock Café has been able to expand internationally by granting other companies the right to market its product, using its name, logo, methods of operation, advertising, products, and other elements associated with the Hard Rock Café business, in return for a financial commitment and an agreement to conduct business in accordance with the Hard Rock Café's standard of operations. The Hard Rock Café is engaging in

franchising

Lauren Williams is a sales representative for Otis who primarily strives to market service agreements to companies who have an Otis Elevator in place or a competitor's elevator that is no longer serviced by the original equipment manufacturer. Lauren enjoys her job and especially likes to take treats such as cookies or cupcakes to offices when she visits. Lauren has found that being personable and offering a nice treat to the office staff such as the secretaries or office managers enables her to make appointments with the Facility Managers who make decisions about the service agreements. Lauren is attempting to create positive relationships with the secretaries and office managers who serve a(n) _____ role as a member of the buying team.

gatekeeper

Sylvia Turner is an account executive with GlaxoSmithKline—a pharmaceutical company—and works with physicians who prescribe the medications she represents. She is not able to make appointments with the physicians but works with the office manager to get a few minutes of the doctor's time when she visits the doctor offices. The office manager is usually able to arrange a 5- to 10-minute meeting between Sylvia and the physician. What role of the buying center does the office manager perform?

gatekeeper

Justin Franklin's company is interested in locating areas where the average income is high, the average age range is 25-35 years, and the lifestyles of the people involve extreme adventures and dangerous leisure activities. His company would most likely find possible markets through ______.

geodemographic segmentation

Patagonia is a California-based manufacturer of high-quality lifestyle clothing and clothing for outdoor enthusiasts such as mountain climbers. Patagonia operates specialty stores in selective areas which are chosen due to the high concentration of individuals within the chosen market area who are most likely to purchase Patagonia products. Patagonia's stores are located near areas which have natural rock formations or proximity to National Parks where people engage in outdoor activities such as hiking, snow skiing, or climbing. What type of segmentation variable does Patagonia utilize when selecting locations for its retail outlets?

geographic

The population of a city or county and what type of climate the area experiences are examples of ____________ variables used for market segmentation.

geographic

Calloway Golf Company standardizes many of their products worldwide which is an example of

globalization

Princeton Sun Hats markets its products around the world and creates standardized products that can be successfully marketed in various countries utilizing the same marketing mix since customer needs are relatively homogeneous. Princeton Sun Hats is utilizing a ______ strategy.

globalization

When asked where Laser Tools, Inc., markets its products, company president and founder Roger Helms says that "the world is just one big market." He feels anyone not taking this stance is systematically passing up profitable business. Helms's international marketing strategy is best described as ___________.

globalization of marketing

The _______ business market is characterized as having the most complex procedures when purchasing products or services.

government

The city of Bloomington is responsible for providing police and fire protection for its residents and purchases equipment for the departments, such as vehicles, computers, weapons, and other needed items. The city receives funds through tax collection as well as from state or federal governments to support its mission of serving the residents. The city is a(n) _____ type of business market.

government

Buffalo Trace is one of the oldest distillers of Kentucky bourbon and has been enjoying a sharp increase in sales of its various brands as bourbon has become more popular both at home and abroad. The Japanese consumers were quick to develop a taste for Kentucky bourbon and fueled the growth in revenue for Buffalo Trace as well as other distillers in Kentucky. Buffalo Trace quickly learned the complexities of international trade however when ______ were imposed on its products which raised the price of the bourbon and affected trade. Buffalo Trace realized that Japan was simply attempting to protect its local alcohol spirit market at the expense of foreign firms competing in Japan.

import tariffs

China is the world's largest beer producer and consumer and represents a significant opportunity for American craft breweries. An increasing number of consumers in China, especially middle-class residents, prefer imported beers due to their higher quality, flavor options, and enhanced food safety. In stores, restaurants, and bars, the price of an imported beer would be $2 to $4 per liter and vary from 100%-200% more expensive than Chinese domestic mass-produced beers. Part of the price difference is related to the ______ that are imposed on imported beers, which raised the price of the product and affected trade. American craft breweries must realize that China is simply attempting to protect its local beer market at the expense of foreign firms competing in China.

import tariffs

Greece has been facing dire economic conditions recently and is seeking ways to raise revenue. Greece could impose _______ on goods purchased outside its borders and brought into the country.

import tariffs

When a Japanese alcohol distributor purchases Kentucky bourbon from a distillery in Kentucky, it is engaging in

importing

Jackson stopped at Best Buy to purchase an external hard drive for his computer to backup his photo and video files. As he's walking through the store, he notices a display of XBox games and sees a title that looks interesting—it's the latest version of NBA basketball for XBox 360 and he decides he'll purchase it too. The purchase of the XBox game is an example of

impulse purchasing

One of the limitations related to the increased acceptance and use of digital media is that some of the marketer's control over dispensing content has been placed

in the hands of the consumer.

Robert is married to Wendy, who is an avid user of various social media, such as Facebook, Twitter, and Instagram. Wendy often posts pictures of Robert and their children on these sites, but Robert is concerned about privacy and the digital space. He's heard that once an image or post is submitted to cyberspace, it can never be removed. He's asked Wendy not to post any more pictures of him, their home, or children and especially doesn't want Wendy to mention when they're going on vacation or leaving their home. Robert uses the Internet for work and enjoys e-mail but does not participate in any digital online media. Robert would most likely be categorized as a(n) _____________.

inactive

The Social Technographics Profile developed by Forrester Research groups the online community into various segments according to how they interact with digital media. Individuals who use the Internet but do not participate in any digital online media are called

inactives

Which of the following is one of the trends that led consumer-generated information to increase in importance?

increased tendency of consumers to publish their own thoughts, opinions, and product reviews

Traditionally, most companies entered the international marketplace _______ as they gained knowledge about various markets and opportunities.

incrementally

Four major factors influence business buying decisions. The _____ factors refer to personal characteristics of participants in the buying center, such as age, level of education, personality, and position.

individual

Hart Farms recently increased its prices on organic cheese products that it sells to high-end restaurants and specialty stores in the region. The owner of Hart Farms was surprised when customers continued to order the same amount of product and didn't complain about the price increase. What type of demand does Hart Farms possess for its cheese products?

inelastic

Harvest Café is a farm-to-table restaurant and prides itself on offering fresh, local foods to its customers. They purchase chicken from Heart Farms which are cage-free and organic. Harvest Café typically purchases 20 pounds of chicken each week and usually pays $3 per pound. However, when placing a recent order, the chef noticed that the price had increased to $3.40 per pound. The chef placed the usual order for 20 pounds of chicken and reasoned that he could either reduce the portion size or increase the menu price to order to maintain his profitability goals. This is an example of business products having _______ demand.

inelastic

Situations where price increases or decreases do not alter the demand for a product are known as _____ demand.

inelastic

Williams Tool & Die manufactures steel and aluminum parts for a variety of automobile manufacturers such as head rest standards and aluminum inserts for beverage holders. Williams Tool & Die typically contracts with the automobile manufacturers for a two-year time frame at an agreed-upon price for the parts. Recently, the price of steel and aluminum has increased, resulting in increased production costs for Williams Tool & Die. However, Williams Tool & Die cannot pass along a price increase to its customers and must absorb the increases in raw materials. The demand for steel and aluminum for Williams Tool & Die is

inelastic

Marketers may influence consumers' evaluations of alternatives by using framing which is defined as describing the alternative and its attribute in a certain manner. Framing has been shown to have a stronger influence on ______ buyers.

inexperienced

Your university has decided to purchase new computers for all of the computer labs on campus. Typically, the purchasing agent negotiates with manufacturers and makes the decision on what to buy. However, for this purchase he has asked members of the computer science department to give input on the purchase decision. In this instance, the computer science department would be acting as a(n) ____, while the purchasing agent is a(an) ______.

influencer; decider

The process of perception involves ___________ that are sensations received through sight, taste, hearing, smell, and touch.

information inputs

Brady is shopping for a new pair of basketball shoes and has been reading reviews online about what different brands of shoes NBA players are wearing. What stage of the consumer decision process is Brady most likely in?

information search

Chi Omega Sorority is a national fraternal organization with chapters at a variety of colleges and universities across the country. Each Chi Omega chapter is responsible for making purchases for their "house" such as food items, furniture, mattresses, entertainment products such as TVs, and services such as cable, satellite, or Internet. Chi Omega is a(n) _______ type of business market.

institutional

Pi Delta Mu sorority purchases food in bulk to feed its members living in the house. This means it is part of a(n) ____ market.

institutional

The Wisconsin Avenue Church purchases office supplies and printing services from businesses in the area to use when creating newsletters to send members or create weekly bulletins for church services. These purchases would qualify the Wisconsin Avenue Church as a(n) ______ market.

institutional

Sororities and fraternities on college or university campuses who make purchases for goods or services utilized in their daily operations are considered

institutional markets

An ethical and legal issue important to companies, recording artists, and writers' concerns ______, the copyrighted or trademarked ideas and creative materials developed to solve problems, carry out applications, and educate and entertain others.

intellectual property

Many company websites such as Frito Lay's website enable customers to communicate directly to the company about their wants and needs. Frito Lay is utilizing the _______ characteristic of online media.

interacitivity

The online media characteristic that allows customers to express their needs and wants directly to the firm in response to its marketing communications is known as

interactivity

A Spanish term used to refer to production facilities established in Mexico near the United States border is

maquiladoras

Trip Advisor is a social networking site where users can post reviews of venues such as restaurants, entertainment, hotels, and other tourism-related sites. Recently, the Hilton Hotel in downtown Chicago was reviewing its Trip Advisor posts and noticed that several recent guests had given negative reviews related to their stay. The manager of the Hilton Hotel used the Trip Advisor forum to apologize to the guests and stated that the hotel would make improvements and appreciated the feedback. This example relates to the ______ characteristic of online media.

interactivity

_________________ marketing involves developing and performing marketing activities across national boundaries.

international

An organizational structure that centralizes all of the responsibility for international operations is called

international division

A firm may utilize a(n) _______ organizational structure and engage in exporting, licensing, and use of trading companies as preferred modes of international market entry.

international divisions

Mitsubishi Motors, based in Japan, operates several ________ as part of its global footprint where it has centralized the responsibility of international operations such as human resources, sales, and production into one unit that serves as the central point for all information flows related to the international operations. The company maintains these offices in Africa, Asia, Europe, Latin America, the Middle East, North America, and Oceania.

international divisions

Stepan Chemical, based in Illinois, operates several ________ as part of its global footprint where it has centralized the responsibility of international operations such as human resources, sales, and production into one unit that serves as the central point for all information flows related to the international operations. The company maintains these offices in Mexico, Europe, and Singapore to serve its growing market in Asia.

international divisions

Which of the following is most likely to engage in direct ownership activities internationally?

internationally integrated structures

The third step in the perceptual process is called _____ which is the assignment of meaning to what has been organized.

interpretation

​Jack has just joined a law firm as its purchasing agent for all supplies, equipment, and service contracts. In his previous position at another company, Jack could make decisions for any purchase up to $1 million; however, at the new law firm, he can only make decisions for purchases less than $500,000. Recently, Jack has been working with a sales representative from a computer software firm on a contract for a new program to process the firm's billing statements. Jack signs the contract, even though it is for $950,000. In this case, Jack ___ part of the market for the software because _____.

is not; he does not have the authority to purchase.

Sarah is an active senior citizen who enjoys learning about information technology and has recently been given an iPad by her granddaughter. She's still trying to navigate cyberspace and doesn't really understand much of the digital technology or how it works. Her granddaughter has helped her create a Facebook page, but Sarah mostly just looks at the pictures and status updates of her family members as a way to stay in touch and feel connected. Sarah has never posted to Facebook, although her family sometimes tags her in photos that appear on her Facebook wall. Sarah would most likely be categorized as a

joiner

Individuals who register as members of Facebook, Twitter, Instagram, or other social media networking sites would be classified as ________ according to the Social Technographics Profile.

joiners

Buffalo Trace is a distiller of several brands of Kentucky bourbon. One brand, Blanton, a single barrel bourbon, is placed in a silky cloth bag and packaged in a gold and green gift box to make an appealing display on retail shelves and make purchasers equate the elaborate packaging to the quality and taste profile of the bourbon. The demand for the gift boxes and silky cloth bags is an example of _____ demand.

joint

Fiat and the Indian automotive manufacturing company, Tata Motors, authorized a 50:50 industrial _______ in the mid-2000s. Both companies agreed to share a distribution network, back-end support system, and the co-manufacturing of products at a facility in Ranjangaon, India.

joint venture

Brooke enjoys supporting causes associated with breast cancer such as the Susan G. Komen Foundation or Young Survival Coalition. During the month of October—breast cancer awareness month, Brooke buys lots of different items that feature a pink ribbon on the packaging and mention that a portion of the proceeds goes to support the various nonprofit organizations associated with finding a cure for breast cancer. However, Brooke recently read an article in the New York Times about the "pink washing" phenomenon and how very little money is actually generated through these promotions but the companies are merely supporting the cause to enhance their sales. Brooke is now reconsidering her decision to buy these products with the pink ribbons. The changes in Brook's thought processes and behavior caused by this information is termed

learning

Costco and Sam's Club rely on in-store sampling—offering product samples to consumers while they shop to motivate trial and influence their purchasing of the products. Product sampling enables customers to gain experience with the product and enables customers to feel more comfortable with the purchase since it reduces their risk. Product sampling facilitates consumer

learning

A disadvantage of reciprocity is that it can lead to _____.

less-than-optimal purchases for the buyer

The North American Industry Classification System (NAICS) is superior to the SIC system due to its

level of comprehensive and up-to-date information

BMW recently engaged in a(n) ___________ arrangement with Maclaren, a stroller manufacturer to expand its market through lifestyle products. According to the Maclaren website, "The BMW Buggy is an engineering-inspired Maclaren Object of Design combining the highest quality materials and signature design details to create a sophisticated stroller. The award-winning Maclaren BMW Buggy is our lightweight, high-performance stroller. Suitable for children from 6 months and up, the car-inspired stroller delivers a padded liner with a luxurious bucket-seat feel, multiple position recline seat, contoured hood with mesh windows and insignia details."

licensing

Barry is an avid wine drinker and often travels to regions of the world on business but always finds time to visit local wineries and talk with the wine makers. He subscribes to Wine Spectator and enjoys talking with other people about wine and making recommendations about different varietals. He and his wife also love to cook and Barry thinks it is fun to find the best wine to complement their food. Barry often enjoys playing golf and is an avid runner. Barry's pattern of living expressed through these activities is referred to as his

lifestyle

Chad enjoys listening to music and is interested in purchasing wireless speakers so he can listen to the music on his smartphone. He is familiar with several brands of wireless speakers but is also willing to exert some effort on the purchase process. However, since he only plans to spend about $60 on the speakers, there's very little risk involved. What type of consumer decision will this purchase most likely be for Chad?

limited decision making

Jeremy loves attending sporting events and likes to wear "team-logo" shirts or sweatshirts for events. He has tickets for an upcoming game and is shopping at a local sporting goods store to buy a new logo shirt or jersey. What type of decision making style will Jeremy most likely use for this purchase?

limited decision making

Karl is transitioning from high school to college and will be purchasing a new computer to use for his classes and gaming. He's looking for a computer that offers fast processing speed, light weight, excellent graphics card, and a good value for his money. Karl will likely use ____________ when making the purchase.

limited decision making

Spencer typically uses Axe brand of deodorant and body spray and always gets compliments on his cologne. He's at the store and needs to repurchase deodorant since his container is almost empty. He's noticing that Axe has several new scents available and is trying to decide which one to purchase. Spencer's purchase for Axe in this example is most likely classified as ______________.

limited decision making

Consumers utilize three types of decision making styles which vary in level of involvement and other factors which affect their behavior. These styles include

limited decision making, extended decision making, and routinized response behavior.

A firm engaging in _______ would develop no international marketing strategies but could have international distributors, foreign firms, or selected customers purchase some of its products.

limited exporting

The balance of trade is the difference in value between a nation's exports and its imports. Which of the following strategies can be utilized to enable a country to maintain a more favorable balance of trade?

limiting imports

Firms can divide a market according to consumer behavior toward a product which commonly involves an aspect of product use. Which of the following is an example of a behavioristic variable relating to product use?

loyalty to a brand

A consumer's stage in the family life cycle is often utilized as a segmentation variable for target marketing. Two variables are associated with family life cycle and affect consumers' needs for housing, appliances, food, automobiles, and recreational equipment. These two variables are

marital status and age of children living at home.

A group of individuals or organizations that have a desire or need for products in a product class and have the ability, willingness, and authority to purchase those products are known as a

market

A geographic variable that is often used for market segmentation refers to the number of potential customers within a unit of land area such as a square mile. This segmentation variable is called

market density.

Duracell Battery has determined that the total number of batteries sold to consumers in the next year by all battery producers is 5 billion units based on estimates of manufacturers and global expansion of firms. This amount represents the industry's

market potential.

The marketing manager for Pillsbury is attempting to determine a sales estimate for the line of products such as cinnamon rolls, pie crusts, and crescent rolls that are available in the refrigerated section of the grocery store and can be baked in the consumer's home for bakery-fresh taste and quality. The marketing manager estimates the ___________ to be $20 million annually for the category of refrigerated or frozen bakery items, while Pillsbury's _____________ is 25% of the overall market.

market potential; company sales potential

Starbucks has in-store coffee outlets in Target stores throughout the United States and Canada and also offers its extensive line of Via instant coffee and various flavors of the bottled Frappuccino beverage. Prior to the partnership and roll-out of product throughout the Target system, a _______ was conducted where several "test" stores carried the products for a limited time and Target and Starbucks could measure the actual sales to gauge the strength of the brand and opportunity for success.

market test

​People and organizations have needs and wants they seek to satisfy through the purchase of goods and services. These people and organizations represent a _____________ that marketers try to appeal to. Marketers will sometimes find it more advantageous to attempt to appeal to a subgroup of these people and organizations which is called a ________________. This subgrouping process is accomplished through the use of _______________ techniques.

market; market segment; market segmentation

The Internet is changing the way marketers communicate and develop relationships. WalMart has been an early adopter of various technologies which it leverages to create competitive advantages. WalMart is utilizing e-marketing and one of the benefits is that

marketers and customers can share information.

Central State University purchases projectors for use in its classrooms and typically purchases 100 new projectors each year. Central State wonders if any improvements have been made in bulb life or brightness of projectors and anticipates reviewing the various brands of projectors before placing an order. What type of purchase will Central State utilize for the projector purchase this year?

modified rebuy

Eagle Food stores purchases snack products from Frito Lay and usually buys two to three cases each week. They are placing an order for the week of Labor Day—a holiday weekend associated with grilling and picnics and wants to order additional products for the weekend. What type of purchase will Eagle Food stores make for the Labor Day week Frito Lay order?

modified rebuy

Whitney is an account executive with Simmons Mattress Company and markets directly to hotels and the hospitality market. She enjoys the opportunity to gain a large sale of 100-200 mattresses when hotels are remodeling or building a new facility. Usually, a hotel will replace mattresses every four to five years since they receive so much use and are also monitored by the health department to ensure sanitary conditions are met. Recently, Simmons Mattress Company has unveiled a new and improved mattress for the hospitality industry and Whitney is meeting with the purchasing manager at the Hilton Hotel headquarters to discuss a large order. The Hilton Hotel Company has purchased from Simmons in the past, but the new mattress is a latex foam product and would be unique in that a box spring is not needed. What type of purchasing decision does this represent for the Hilton Hotel Company?

modified rebuy

Individuals' consumer decisions are affected by their ______ which are defined as internal energizing forces that direct or guide their behavior toward achieving their goals.

motives

Personal appearance, affiliation, status, safety, and health are examples of __________ affecting the types of products purchased and the choice of stores in which they are bought. They reflect the reasons consumers use when making a purchase.

motives

What are the primary psychological influences that partly determine people's general behavior and impact their behavior as consumers?

motives, lifestyles, learning, perception, attitudes, and personality

The Temple University College of Business is seeking to purchase new monitors for their classrooms, computer labs, faculty, and staff offices. They create a description of the project and ask suppliers to submit bids. The University identifies the top two to three suppliers who present the most competitive packages and will begin discussions with each supplier to determine which company will be awarded the contract. This is an example of the ______ method of business buying.

negotiation

A _______ type of business purchase is defined as one where an organization makes an initial purchase of an item to be used to perform a new job or solve a new problem.

new task

Jeckel Mowing & Maintenance has provided lawn, garden maintenance, and snow removal services and is considering offering landscaping services to their customers. The company owner, Prescott Jeckel, is considering the purchase of a skid steer or Bobcat machine. While Prescott has purchased many different varieties of mowers and lawn tractors, he does not have any experience with skid steer machines. What type of purchase will the skid steer decision be for Prescott?

new task

What are the three types of business purchases?

new task, modified rebuy, and straight rebuy

In order to evaluate the products within a buyer's consideration set, the consumer uses criteria which are both _____ and _____ that are deemed important to the purchaser.

objective; subjective

Many businesses and organizations such as Kohl's believe that Facebook

offers a way to market their products, interact with consumers, and take advantage of free publicity.

Any attempt to conduct dishonest activities online is called

online fraud

A buyer for Macy's Department Stores orders handbags from a supplier because that supplier allows the buyer to maintain Macy's company policy of 30-day advance purchase notice. This is an example of ____ influence on the business buying decision process.

organizational

Carlos is the purchasing manager for beer and liquor at his restaurant/bar and enjoys purchasing from Williams Distributing because the company provides a discount of 5% to customers who pay when the products are delivered. Carlos appreciates the opportunity to save money and has become a loyal customer of this company because of the favorable payment terms they offer. This is an example of a(n) _____ influence on the business buying decision process.

organizational

As discussed in the text, the process of perception includes three stages or steps. After inputs have been selected to be registered consciously, the next stage of the process is

organizing

Caterpillar is a global business and utilizes engineers to assist with new product development, specifications and quotations for client purchases, and other engineering services. In order to quickly respond to requests for bids, Caterpillar utilizes ______ to contract with engineering firms in China and India that can respond to bid requests during the evening and overnight hours of the United States and enable customers to receive faster quotes.

outsourcing

A(n)_______ is created when suppliers and their customers build and maintain mutually beneficial relationships.

partnership

Luis likes shopping at Stein Mart, a discount department store, because he likes the prices, products, and services the store provides. His selection of this store as a regular stop when shopping is influenced by ____ motives.

patronage

Winston enjoys shopping at the Ralph Lauren store because he loves their attention to personal service, attractive clothing displays, artwork, and convenience to other stores. Winston is influenced by _____ motives which determine the stores he will visit.

patronage

Marketers who attempt to use reference-group influence in advertisements are most likely to succeed when messages indicate that _____.

people in a specific group buy the product and are highly satisfied by it

A small, family-owned French winery is considering exporting its champagne to China. Which of the following would be the best measure of market potential for the winery to utilize in making decisions about exporting its wines?

per capita GDP

Carter is shopping at a retail store and looking for clothes to wear to school. Almost unconsciously, he's selecting, organizing, and interpreting the sensations that are received through his various senses—sight, sound, touch, and smell. Carter is experiencing the process of

perception

Sayed is dining at a local Oriental restaurant for the first time. One of his friends had told him that the restaurant offered very good food but after arriving, Sayed was questioning whether or not he should stay. The restaurant had a very worn appearance—old and stained carpeting, dim lighting, older tables, and he even noticed a few cobwebs and lots of dust on the various Asian-themed decorations scattered around the restaurant. It really made him wonder what the kitchen might be like and how clean or sanitary the restaurant might be. Sayed decided to stay and did think the food was OK but he decided this would be his last visit to the restaurant. Sayed's decision not to dine at the restaurant again was most likely influenced by the _______ category of situational influences.

physical surroundings

Kramer has started drinking Dos Equis beer and loves their commercials featuring the "world's most interesting man." Subconsciously, Kramer hopes that he can be surrounded by beautiful women while enjoying his beer and the Dos Equis brand promotes this idea of attraction based upon consumers' _____ needs.

physiological

According to a well-known psychologist, Abraham Maslow, individuals seek to satisfy five levels of needs from the most basic level to higher-order needs. These needs, in order from most basic to least basic to survival are

physiological, safety, social, esteem, and self-actualization.

Audio or video files that can be downloaded from the Internet with a subscription that automatically delivers new content to listening devices or personal computers are called

podcasts

Radio and television networks like CNBC, NPR, and PBS are creating _____ of their shows to profit from a growing trend where consumers are downloading audio or video files from the Internet to listening devices or personal computers.

podcasts

A nation's political system, laws, regulatory bodies, special-interest groups, and courts all have a great impact on international marketing. These entities are part of the _____forces that affect international marketing activities.

political, legal, and regulatory

A variety of environmental factors affect the ability of companies to successfully launch international or global marketing activities. A firm considering the expansion of its business through exporting should consider the impact and existence of trade barriers which is a _______ force.

political, legal, and regulatory

The marketing mix variable that is related to perceptions of value and is the most flexible element of the marketing mix is

price.

Amazon is a known innovator in the e-marketing industry and developed proprietary software that enabled the company to offer product suggestions to customers based on their purchase history. For example, if an Amazon customer enjoyed reading fantasy books, such as the Harry Potter series, the computer algorithm would suggest other titles that consumers like them had purchased, such as Percy Jackson and the Olympians or The Hunger Games. However, some consumers are concerned about their _______ since Amazon collects information from website visitors in their efforts to create long-term relationships and generate revenue.

privacy

Phillip uses a secure system that allows his organization to share information with other organizations that share the same supply chain. The system he uses is most likely an example of a(n) _____________.

private B2B exchange

Duleep always enjoys a bowl of Cheerios for breakfast every day and has just emptied the box. He makes a mental note to stop at the store and purchase Cheerios later in the day. What stage of the consumer decision process is Duleep regarding purchasing Cheerios?

problem recognition

The consumer decision process is described as a five-stage process that includes (in order)

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

Stefanie is shopping for groceries at her local supermarket. As she picks up laundry detergent, she sees the display of bathroom cleaners and remembers that she is about to run out of it at home. Stefanie tries to remember the specific brand that she used last time, because she thought that was the best in terms of performance and value. In terms of the consumer buying decision process, Stefanie's remembering that she was almost out of bathroom cleaner is the ____ phase of the buying decision process, whereas trying to remember what brand she last used was an example of the _____ phase.

problem recognition; internal information search

A(n) _____ market is defined as individuals and business organizations that purchase products to make profits by using them to produce other products or using them in their operations.

producer

An accountant who purchases software for maintaining clients' books is an example of a buyer in a(n) ____ market.

producer

An electrician who purchases light switches for installation in a client's new construction project is an example of a(n) _______ market.

producer

Fitbit purchases plastic materials that are utilized in the process to manufacture the Fitbit devices that individuals wear to track their activity, heartrate, and sleep. The plastic material is utilized to create the flexible bands that fit comfortably around the wearer's wrist. Fitbit is a buyer in a(n) _____ market.

producer

Mitsubishi Motors manufactures a line of automobiles and heavy trucks that it sells in the global marketplace. Mitsubishi Motors' manufacturing plants utilize just-in-time processes to receive delivery of raw materials such as steel, glass, and wire as well as component parts such as engines and alternators. What category or type of business market best represents Mitsubishi Motors?

producer

The four categories of business markets include

producer, reseller, government, and institutional.

A marketing manager can utilize executive judgment as a sales forecasting method. It is most appropriate to utilize when

product demand is stable and the marketing manager has years of market-related experience.

The North American Industry Classification System (NAICS) is based on the types of ______________ performed. It divides industrial activity into _______ sectors.

production activities; 20

Market segment ________ help marketers understand how a business can use its capabilities to serve potential customer groups and describes the similarities among potential customers within a segment as well as explains the differences among people and organizations in different segments.

profiles

Web advertisers are trying to engage in self-regulation so regulators do not develop additional regulation to ________________.

protect user privacy

The Internet is often called a _________ medium because users determine which websites they are going to view.

pull

The term ______ medium is utilized to refer to the Internet since users determine which websites they are going to view while the marketer has only limited ability to control the content to which users are exposed.

pull

Marco has been shopping for a new automobile and has decided the make and model he wishes to buy and has arranged for financing. He is all ready to sign the contract and the car will be his. What stage in the consumer decision process is Marco?

purchase

Which of the following is an example of consumer misbehavior?

purchasing illegal drugs

The United States began a program to limit the number of pounds of sugar that could be imported into the United States in order to maintain higher prices on domestically produced sugar and protect the industry from foreign competition. The current _____ is 3 billion pounds which represents about 15% of U.S. consumption of sugar.

quota

Countries may utilize nontariff trade restrictions such as _____ which place a limit on the amount of goods an importing country will accept for certain product categories. For example, if the United States wanted to increase sales of domestic products such as textiles, it could limit the number of textile products imported into the United States from other countries.

quotas

Business Systems, a reseller of office machines such as photocopiers, service, and maintenance business uses Speedy Cleaning Services to maintain their office facilities. Both Business Systems and Speedy Cleaning Services recommend each other's businesses to their customers and have a _____ relationship.

reciprocal

Sherwin Williams Company and Zimmerman Construction have worked together for many years whereby Zimmerman Construction purchases most of their paint and paint-related supplies from Sherwin Williams and Sherwin Williams delivers products directly to the job site in an efficient and convenient manner. The relationship between the two companies is an example of a(n) ________.

reciprocity

Willamette Valley Community College often hosts receptions for alumni and business leaders and serves local wine from the Oregon valley. They have an agreement with the Willamette Valley wine cooperative to only serve Oregon wines from the region at their events and purchase directly from members of the cooperative organization. This agreement is an example of _____ that is unique to business markets.

reciprocity

What are the stages (in order) of the business buying decision process?

recognize problem, develop product specifications to solve problem, search and evaluate possible products and suppliers, select product/supplier and order product, and evaluate product and supplier performance

During the information search stage of the consumer decision process, buyers may utilize marketer-dominated sources of information. Which of the following is not an example of a marketer-dominated information source?

recommendations from friends

Katy Ramirez is a marketer for a company that produces in-ground swimming pools. When forecasting company sales, she finds a direct association between past sales and per capita income. Which sales forecasting technique is Katy using?

regression analysis

Sherwin Williams Company utilizes a sophisticated and mathematical approach to forecasting sales. They first utilize historical sales data incorporating a 10-year history of sales for each product category such as different brands of paint and supplies—brushes, ladders, tarps, and so on. Their sales forecasting manager uses Excel to perform _______________ where sales is the dependent variable and a variety of other factors such as company size, annual purchases, and number of years as a customer are the independent variables. The sales forecasting manager is then able to identify the relationship between the independent variables and the dependent variables to determine an accurate sales forecast.

regression analysis

Dick's Sporting Goods uses ________ marketing through Facebook to help consumers feel more connected to their products and more loyal to their firm.

relationship

IHOP is active on Facebook, Twitter, and YouTube in order to communicate with its customers, conduct video contests, and generally find out the customers' likes and dislikes. IHOP, in this example, is engaging in ____ marketing.

relationship

What are the three purposes for which individuals or groups utilize products in order to be considered a business-to-business or B2B market?

resale, direct use in producing other products, or use in general daily operations

A(n) _____ market is defined as individuals and business organizations that buy finished goods and resell them to make a profit.

reseller

Companies such as the "big box" stores, Staples, and Best Buy are considered to be classified as _____ markets.

reseller

Dianne's Gifts purchases a wide variety of gift items by various companies at the semiannual wholesale markets in Dallas, Atlanta, and Chicago. She sets her prices so that she can make a profit and one that her customers will pay. What classification of business is Dianne's Gifts?

reseller

Jim's Hardware Store sells a wide variety of hardware items, such as tools, nuts, and bolts; paint and paint accessories; fishing equipment; and lumber to name a few. Jim's Hardware has a wide variety of companies from whom he purchases merchandise that he makes available for sale in his store. He's responsible for setting prices and strives to be competitively priced to other stores and make a profit. Jim's Hardware is classified as a(n) _______ market.

reseller

Sysco Foods provides a wide variety of food products—over 12,000 different products —to customers in the restaurant, hospital, education, and hospitality industry and works with companies such as Hormel Foods to offer high-quality, nutritious, tasty, and sustainable foods. What type of business market does Sysco Foods represent?

reseller

Ross is employed as the Marketing Director for a global manufacturing firm. He's also a husband and father and enjoys coaching his kids in soccer and little league baseball. He also shares his marketing expertise with nonprofit organizations by serving as the president of the local chapter of United Way. The set of actions and activities that Ross is engaged in are called his

roles

Jacob is running errands for his mom and stopped at the grocery store to purchase a dozen eggs and a 5-pound package of flour. Jacob will likely utilize the _________ style of decision making when making the purchases.

routinized response behavior

Which consumer decision making style would be most likely for an individual who is purchasing his or her usual brand of shampoo?

routinized response behavior

Whitney and Blake were recently married and purchased a new home. Their purchase of __________ is classified as limited decision making behavior, but they would use extended decision making to purchase __________.

routinized response behavior

Jessica stopped at the convenience store to purchase some milk since she remembered that she had run out of milk at breakfast. Jessica's purchase of milk would be described as

routinized response behavior.

The last several years, Frito Lay has sponsored the "Lays Do Us A Flavor" competition where participants can enter flavor ideas for potato chips. Lays selects four flavors and offers these flavors in grocery and other retail outlets for a limited time. Participants can vote for their favorite flavor and the winner receives a cash prize. This promotion enables Frito Lay to change the purchase decision for potato chips from _________ to ____________.

routinized response behavior; limited decision making

Bridget is single and recently moved to New Orleans to accept a job as a sales representative. She finds a great apartment but immediately changes the locks on the doors and adds two extra deadbolts. What type of need has been activated for Bridget?

safety

Guess? will be spending $22 million on marketing activities next year and expects to sell 30 million pairs of jeans. These 30 million pairs represent the company's _____.

sales forecast

The _______ is defined as the amount of product a company expects to sell during a specific period at a specified level of marketing activities.

sales forecast.

The final step in the target market selection process is to select specific target markets. When making decisions about which segments to select, a marketing manager should

sales forecast.

A Pillsbury mill in Utah buys grain from growers in the western region. The purchasing agent for Pillsbury will most likely use which buying method?

sampling

Kraft Foods purchases flour from Ardent Mills for use in manufacturing at their various plants. The purchasing agent for Kraft foods most likely utilizes the _____ method of business buying.

sampling

The _____ method of business buying entails evaluating a portion of the product on the assumption that its characteristics represent the entire lot.

sampling

Jeff Bordelon is director of computer services for the College of Business at a regional University and responsible for purchasing computers, printers, and monitors for faculty, staff, classrooms, and the computer labs in the college building. He's decided that he will be replacing about 50 desktop machines and has developed a list of specifications for the desktop computers regarding memory, processor speed, and graphics cards. His next step is to

search and evaluate possible brands of computers and suppliers.

Matt is the purchasing manager for GE Technologies and has recently met with a team to develop product specifications that are necessary for a new line of MRI machines. What is the next stage in the purchase decision process for Matt and/or the buying team?

search and evaluate possible products and suppliers

Ethnicity, city size, benefit expectations, brand loyalty, and personality attributes are all examples of common _________ variables used to divide a market into segments.

segmentation

L'Oreal markets several different product brands targeting specific groups of women for cosmetic and beauty aid purchases. The brand managers for each line of product have completed competitive assessments and cost estimates and are now ready to

select specific target markets

Meghan would like to open a house cleaning business and is considering several market segments. She has identified four segments for consideration; young, urban singles, young married professionals, senior citizens, and college students. She has just completed an analysis of these four segments by assessing such factors as sales estimates, competition, and estimated costs. Meghan is now ready for the next step in the target market selection process, which is to _____.

select specific target markets

Which of the following best describes the final step in the target market selection process?

select specific target markets

Tim has just opened a CherryBerry self-serve yogurt bar in his Midwest community of 250,000 people. He's identified several market segments: families with young children, teens and young adults, active adults, and active seniors and has utilized the breakdown approach to assess the market potential or his locations' sales potential. He has also assessed the competition since the market already supports one OrangeLeaf yogurt shop and several ice cream locations such as Culver's and Baskin Robbins. In addition, Tim has developed cost estimates to develop and maintain a marketing mix that meets the wants and needs of the various segments. Now, Tim is ready to

select specific target markets.

What are the processes associated with perception?

selecting, organizing, and interpreting information inputs

Jeremy loves politics and hopes to work in a marketing capacity for a political candidate in the future. He's currently pursuing his undergraduate degree in Marketing and a minor in Political Science. If asked, Jeremy describes himself as a conservative—prefers candidates who would support funds to national defense and reduce taxation for individuals and businesses. He wants to see the free market system at work. Recently, one of Jeremy's favorite state senators for whom he had served as an intern was implicated in a scandal where he had overstated his mileage on his vehicle which is considered an ethical violation as well as fraudulent behavior. Jeremy dismissed the incidence and explained to a friend that it must have been an honest mistake. What type of process is Jeremy utilizing with regard to the information about the state senator?

selective distortion

Emily has always been a loyal customer of Clinique makeup and facial products for several years and was talking with one of her friends about different makeup brands. Her friend mentioned that she had read a review in Cosmopolitan magazine about different brands and Clinique was rated lower on quality ingredients and use of animals to test their products. Emily was really surprised and thought that maybe her friend had misread the article since she knows that Clinique is one of the best brands. Emily is experiencing

selective distortion.

Charlie's cell phone contract allows him to change his equipment every two years and he's getting close to making a change and getting a new phone. He's starting to notice ads for cell phones on TV and in magazines as well as pop-up ads on the Internet and thinks it's strange that there are so many advertisements for different brands of phones at the same time that he's considering a new purchase. What phenomenon is Charlie experiencing?

selective exposure

Individuals do not pay attention to all sensory inputs and mostly unconsciously engage in _____ to determine which inputs are consciously recognized.

selective exposure

The process of _________ occurs when individuals remember information inputs that support their personal feelings and beliefs while forgetting inputs that are not consistent with their beliefs.

selective retention

Individuals receive various kinds of stimuli simultaneously throughout the day and marketers try to break through the clutter with advertising and promotion. Katie is reviewing her Facebook updates and notices some advertisements for various products such as McDonald's coffee, Starbucks new lunch menu, and an advertisement for Shutterfly. Later, Katie is out running errands and decides to stop somewhere for lunch. She remembers the ad for Starbucks and decides to try the new lunch items. Katie has engaged in

selective retention.

Big Sky Media is a boutique advertising agency located in Billings, Montana, and places ads for interns and full-time career positions on Monster and CareerBuilder, as well as the local newspaper. Big Sky Media promotes their culture of lifelong learning, as well as enabling employees to reach their full potential and become all that they are capable of becoming. Big Sky Media is appealing to potential employees' needs for ________.

self-actualization

Hayley and Joel were recently married and are now starting to make joint purchasing decisions. They enjoy traveling and have been saving money so they can travel to exotic and interesting locations on their vacations. They view travel as a way to expand their knowledge and viewpoint—meeting with local people, learning about their culture, touring museums or historical buildings, and enjoying the local food. Hayley and Joel believe that their travel adventures are almost like an educational experience except that they can immerse themselves in the experience instead of just reading or learning about culture or history. Hayley and Joel's love of travel is motivated by their need of ________ , one of Maslow's hierarchy of needs.

self-actualization

Needs which are termed ______ needs refer to individuals' needs to grow and develop and to become all they are capable of becoming.

self-actualization

Farrah is a product manager for an outdoor specialty products company and has always been an outdoors enthusiast. In her free time, she competes in triathlons and enjoys taking vacations to National Parks to hike and explore. Farrah's job and her hobbies mesh so well that she doesn't even feel like work is "work"—it's more recreation to her since she enjoys the product category so much. Farrah sees herself as an outdoors person—one who's independent, concerned about the environment, and hopes to minimize her carbon footprint. Farrah's ________ influences her purchasing decisions as she seeks to purchase items that reflect or enhance her persona.

self-concept

Ben and his partner just purchased their first home and are now shopping for a lawn mower. Ben doesn't really enjoy lawn care or gardening and views it as a chore although he does enjoy spending time outside. His yard is pretty small and a standard upright model lawn mower will fulfill his needs. He's visited several stores to check out prices and has read reviews in online forums about different brands. The purchase of a lawn mower for Ben is most likely influenced by _______ involvement

situational

Paola is planning a major golf fundraiser for a local nonprofit organization and is spending several hours each week reviewing Pinterest posts and reading articles about how to implement a successful golf outing. She's not a golfer herself and has never participated in a golf outing before but wants to make sure the event is enjoyed by people who like golf and that it generates the donations her organization needs to deliver their services to the community. Paola's behavior can be explained by the concept of ______ involvement.

situational

Dave is an owner and manager of three apartment buildings in northern Minnesota. During an exceptionally hot summer the temperatures soared and the toll on the window air conditioners was too much. Seventeen of them have broken down already, and more are probably going to have to be replaced. He has a total of seventy-five apartment units. Dave is now in the process of deciding how to repair the air conditioning. Should he buy new window units for all the buildings, or should he install central air conditioning? What type of decision is Dave facing?

situational involvement and extended decision making

McClellan Architects is a residential architectural firm located in Seattle, Washington, and provides design/build services for clients around the country. Through the use of the ________ Houzz, McClellan Architects can post pictures of its portfolio including recent projects from design to completion, answer questions posed by users such as building materials or furnishings, and enable users to interact with the firm as well as other members of Houzz.

social network

Mitch is a member of the website Lotus Talk, where Lotus owners can create a profile and interact with other users, post information, and engage in other forms of web-based communication. Lotus Talks is an example of a

social network

Cabi is a line of women's fashion clothing based in California and learns about its customers and their environment in a variety of ways. One method utilized by Cabi is to encourage customers to post pictures of them wearing the clothes to Facebook or Instagram using the hashtag #cabi. Cabi is utilizing information gained through

social networks.

Jessie is out with a group of friends this evening for dinner at a local restaurant and then a movie. While the service at the restaurant was slow, and the food just okay, Jessie still had a great time and left with a positive opinion of the restaurant experience. Jessie's experience was likely influenced by ____.

social surroundings

Parker and Brock met some friends at a local restaurant/bar to support another friend who plays guitar in a band. The friends had a great time with each other and enjoyed cheering for the band. While they didn't think the restaurant provided good food or service, that didn't affect their enjoyment and overall, they had a great time being with their friends! Parker and Brock were influenced by the ______ category of situational influences.

social surroundings

An account representative is meeting with a client team in an Asian company and notices that any attempt to discuss business is avoided and, instead, the clients are more interested in learning about the sales representative's family and hobbies. The account representative is surprised and growing anxious that he's not able to get down to business more quickly and is worried the client company may not be interested in his product. Which environmental force has the sales representative encountered?

sociocultural

L'Oreal manufactures cosmetics, shampoos, conditioners, and other health and beauty aids. It purchases surfactant chemicals for use in the manufacturing process for several products and has decided to utilize ______ and purchase their entire surfactant product from the Stepan Company.

sole sourcing

In its purchase of desktop business computers, Albertson's asked that potential suppliers provide information only on units with 8GB of memory. As Albertson's management evaluates this purchase, it finds that 8GB is inadequate for many of the software programs used at Albertson's. In this instance, the firm would need to modify which aspect of the purchase process?

specification development

RJ Distribution maintains a fleet of vehicles for their delivery drivers and sales representatives to utilize. They've recently expanded and now have a fleet of approximately 55 vehicles. They currently have their fleet insured through State Farm Insurance and are considering making some changes to the coverages. They now recognize that many people are driving very expensive foreign cars such as Mercedes Benz, Audi, and BMW and that the policy limits for damage may need to be increased. What aspect of the buying decision process would the decision to modify policy limits relate to?

specification of product/service

Patagonia, the well-known outdoor enthusiast clothing manufacturer, purchases cotton and other cloth from a variety of suppliers around the world. Patagonia has crafted a set of ______, which detail the characteristics sought from suppliers regarding the attributes of the fabric.

specifications

Franco enjoys cars and dreams of owning exotic cars such as Ferrari or Lamborghini someday and often visits blogs about cars such as Road & Track or Auto Week posts of car reviews and ownership guides. He enjoys reading and staying up-to-date with the latest models but never posts content or participates in any way. Franco would most likely be characterized as a

spectator

According to the Forrester Research group, the largest segment of Social Technographics in most countries is the

spectators

One challenge for marketers involves the need to continually adapt to new technologies and changing consumer patterns. Marketers can attempt to understand consumer behavior and respond to consumer needs by grouping consumers into different segments based on how they utilize digital online media. Consumers who enjoy reading blogs, watching video created by others, and listening to podcasts are classified as _______, while those who write and post articles or stories, upload original videos, and publish blogs or personal webpages are classified as _______.

spectators; creators

Jessica is the purchasing manager at Morton Pediatrics and places orders for routine products such as office supplies and disposable medical supplies such as gloves, syringes, and cotton swabs. She purchases the medical supplies from Johnson & Johnson and utilizes their website where she has an intranet portal to easily place orders and receive a company discount. Johnson & Johnson makes it easy and convenient as well by providing a list of previously purchased items that Jessica can select and simply click "reorder." What type of purchase process does Jessica use when buying these items from Johnson & Johnson?

straight rebuy

St. Francis Hospital system purchases medical supplies from Medline Industries with whom it has done business for the last five years. The hospital and system medical offices typically reorder standard supplies such as gloves, syringes, and other disposable supplies from Medline. This is an example of the _____ type of business purchase.

straight rebuy

Apple and IBM recently announced a _______ to allow the two companies to work together on a worldwide basis. Apple hopes to capitalize on IBM's capabilities to analyze big data as well as break into the corporate, business-to-business marketplace. IBM will benefit from Apple's innovations and iOS systems which will allow people to change the way they work. Thus, the arrangement will enable Apple and IBM to create a competitive advantage on a worldwide basis.

strategic alliance

Partnerships which are formed to create a competitive advantage on a worldwide basis and may involve traditional rivals competing for the same market are called

strategic alliances.

Due to the advancement of the Internet and digital communication technologies, marketers have benefitted by

targeting markets more precisely and reaching markets previously inaccessible to them.

The majority (over 90%) of B2B buyers use _____________ to gather research before making a purchase.

the Internet

All of the following are characteristics or requirements of a market except

the desire to make a profit on the product or service.

Most businesses try to control the level of quality in the parts they buy from suppliers. Most firms develop standards for ____ in order to achieve their quality goals.

the percentage of defects allowed

All of the following are true about business markets except: -the purchase may be made to use in production of another product. -the purchase may be made to resell the item -they can be known as organizational markets -the purchase is made by household members who intend to consume the product.

the purchase is made by household members who intend to consume the product

Which of the following is true about consumer markets?

the purchaser is not buying to make a profit

The unconscious reference to one's own cultural values, experiences, and knowledge when encountering new and different cultures is known as ____________.

the self-reference criterion

In general, an individual who is under 16 years of age and does not work full-time would not be considered part of the target market for photocopier machines because

they would not have the ability to purchase the product.

The search and evaluation of possible products and suppliers is the _____ step in the business buying decision process.

third

The business buying decision process includes five steps or stages in the process. One stage, the _____, is characterized by the business conducting an evaluation of each component of a potential purchase by examining the quality, design, materials, or item reduction in order to purchase the needed items in the most cost-effective manner.

third stage—search and evaluation of potential products and suppliers

Carmen Santiago is a brand manager for Snap-On Tools Company and is developing a sales forecast for socket wrenches. Carmen has 10 years of sales data related to socket wrenches and notices that sales of wrenches are relatively stable with little seasonality. However, Carmen notices that sales are strongest or highest in May and June and hypothesizes the small businesses that purchase Snap-On Tools wrenches may be utilizing their income tax refunds to make equipment purchases. Carmen is most likely utilizing the _________ sales forecasting technique

time series analysis

Carmen Santiago is a brand manager for Snap-On Tools Company and is developing a sales forecast for socket wrenches. Carmen has 10 years of sales data related to socket wrenches and notices that sales of wrenches are relatively stable with little seasonality. However, Carmen notices that sales are strongest or highest in May and June and hypothesizes the small businesses that purchase Snap-On Tools wrenches may be utilizing their income tax refunds to make equipment purchases. Carmen is most likely utilizing the _________ sales forecasting technique.

time series analysis

Marketing managers may also utilize __________ to develop sales forecasts which uses the firm's historical sales data to discover a pattern or patterns in sales over time. This method assumes that past sales patterns will continue into the future.

time series analysis

An organization that links buyers and sellers in different countries but is not involved in manufacturing is called a(n)

trading company

Companies seeking to expand their exporting opportunities to Cuba are utilizing a(n) _______, which links buyers and sellers in different countries but is not involved in manufacturing and does not own assets related to manufacturing.

trading company

The Grummond Group buys air conditioner components in industrialized countries and sells them to business customers in developing countries where the air conditioners are assembled. Grummond is most likely classified as a(n) ___________.

trading company

An organization that links buyers and sellers in different countries but is not involved in manufacturing and does not own assets related to manufacturing is a

trading company.

Aon Insurance Company is an insurance brokerage company that caters to business markets and serves as the expert and consultant to risk managers or business owners to determine their risk profile and insurance needs. Once Aon account executives have determined a customer's needs for insurance, they contact insurance carriers to obtain a quote and then work with the customer to identify the best carrier for their company. Typically, Aon account managers are divided into teams based on the industry such as health care, education, government, or manufacturing. Aon is utilizing the ______ variable for segmenting business markets.

type of organization

Canon Business Systems specializes in office automation services, photocopiers, and printers and employs a large number of sales representatives to market its products. Typically, sales representatives are provided with a territory and become specialists according to the type of customer most appropriate to them. Canon divides its market into categories including professional services (accountants, lawyers, and consultants), health care (hospitals, physician offices, and dentists), K-12 education, higher education, corporate, and governmental. Canon is utilizing _____ segmentation for its business markets.

type of organization

Dell segments its business markets into small business, corporate, government agencies, K-12 schools, and higher education institutions. The primary segmentation variable used in this example is _____.

type of organization

A(n) ________ segmentation or targeting strategy is recommended when the needs of individual consumers in a target market for a specific product are similar and a company can satisfy most consumers with one marketing mix.

undifferentiated

A(n) ________ strategy is defined as one in which an organization designs a single marketing mix and directs it at the entire market for a particular product.

undifferentiated

French's brand, makers of the famous yellow-packaged mustard view all mustard consumers as very similar and utilizes only one marketing mix. French's brand uses a(n) ________ targeting strategy.

undifferentiated

The National Pork Board encourages consumers to buy pork through its advertising messages and theme, Pork—Be Inspired. The National Pork Board is utilizing a(n) _________ targeting strategy.

undifferentiated

The first step in the market segmentation process is to select the appropriate targeting strategy. Which of the following are the three strategies for market segmentation?

undifferentiated, concentrated, and differentiated

Stepan Chemical manufactures a high-quality chemical called a surfactant. Surfactants are utilized in a variety of other manufactured products such as shampoo, laundry detergent, dishwashing liquid, paint, adhesives, inks, and pesticides used in agriculture. Stepan uses ________ variables in marketing their surfactant products.

use of product

The buying center would like to include which of the following entities?

users

Bridget Kingman is the purchasing manager for Williams Contracting, paint contractors for residential and commercial projects. Bridget typically purchases paint from Sherwin Williams and usually buys a premium paint product that is priced higher due to its quality and ability to cover surfaces with one coat. She's reviewing various alternatives and has identified a Benjamin Moore product that could offer the same level of quality at lower costs. What type of analysis is Bridget conducting?

value

The formal and systematic evaluation of current and potential suppliers focusing on price, product quality, delivery service, product availability, and overall reliability is known as ______ analysis.

vendor

Computer-based online simulated environments that involve participants assuming a persona or avatar and competing against others or enjoying the environment themselves are known as

virtual gaming

Firms that purchase products from manufacturers and resell the products to other firms in the distribution system are known as

wholesalers

Mark and Sandy have been married for over 25 years and they are now empty nesters. Over time, Sandy and Mark have developed purchasing habits that influence their styles of decision making for their family. Sandy typically purchases all of the grocery items as well as clothing and gifts which can be described as _______ decision making. However, when they purchase a new vehicle or appliances for their home, they typically spend time shopping together and make a joint decision which is called ______ decision making.

wife dominant; syncratic

A type of software that creates an interface that enables users to add or edit the content of some types of websites is known as a(n)

wiki

A type of software that creates an interface that enables users to add or edit the content of some websites is also utilized by companies as internal tools for teams working on projects requiring a lot of documentation. This type of software is called a(n)

wiki

______ variables are the characteristics of individuals, groups, or organizations used to divide a market into segments.

Segmentation

_____ refer to forces that other people exert on buying behavior and can be classified into five major groups.

Social influences

A source of information typically utilized by marketers to identify the identities and locations of organizations in specific groups is ____________. It contains information about firms, their names, industrial classification, address, phone number, and annual sales.

Standard & Poor's Register

​Your marketing team is currently working through the target market selection process to identify which customers your firm will target with a new technology product being developed. You are currently in the process step where you must consider the target market characteristics, the product attributes, and the firm's objectives and resources. Which of the five steps in the target market selection process are you currently working on?

Step #1 - Identify the appropriate targeting strategy

Biaggi's Restaurant is an upscale Italian restaurant that operates company-owned and franchise locations. Biaggi's has noticed that they have several market segments for both lunch and dinner dining and has developed a detailed description of the various customer segments. These detailed descriptions include information such as demographic characteristics—age, income and education level as well as an individual's preferences regarding how frequently they dine out and the percent of time they select Biaggi's as a restaurant. What step in the target market selection process has Biaggi's completed by describing their target market customers?

Step 3: Develop Market Segment Profiles

The Mont Blanc Company plans to export expensive consumer gift items to Germany. The best overall economic measure of market potential would be Germany's _____________.

gross domestic product per capita

An overall measure of a nation's economic standing and the market value of a nation's total output of goods and services for a given period is called

gross domestic product.

Carlos stops by the grocery store after work to purchase items for the week. He has a grocery list to help him stay on track but finds himself making lots of impulse purchases, placing items in his cart that he could consume immediately like cookies and other snack foods. Carlos is hungry because he skipped lunch due to a meeting. Carlos' purchasing decision is influenced by which category of situational factors?

his mood and condition

The Domino brand is a leading manufacturer of sugar and is part of the ASR Group, the world's largest refiner of cane sugar. Sugar is a staple product that most people keep on hand in their pantry for everyday use as a sweetener or baking ingredient. Domino believes its market is _______, where individuals have similar needs for the product and therefore utilizes a _________ targeting strategy as they can incorporate a single marketing mix and direct it at the entire market for their sugar products.

homogeneous; undifferentiated

The target market selection process is a five-step process and the first step is to

identify the appropriate targeting strategy.

China attempts to protect its domestic market by levying a(n) ________ on foreign goods such as poultry which results in imported products costing considerably more than products produced or raised within China.

import tariff