MKTG Exam 2

Which of these is the best example of an unstructured question? Multiple choice question. "How many credits are you taking this semester?" "Did you vote in the 2016 Presidential election?" "Why did you choose the car you currently drive?" "When is your birthday?"

"Why did you choose the car you currently drive?"

Place the stages of the marketing research process in the correct order, with the FIRST step at the TOP.

1. Defining the objectives and research needs 2. Designing the research 3. Collecting the data 4. Analyzing the data and developing insights 5. Developing and implementing an action plan

Which of the following is NOT one of the categories of consumer products that buyers use for their personal use? Multiple choice question. Associated products Specialty products Shopping products Convenience products

Associated products

Suppose that Coca-Cola were to divide its market up into segments based on the amount of soda consumers drink (heavy, medium, and occasional soda drinkers). What type of segmentation does this represent? Multiple choice question. Occasion Loyalty Benefit Demographic Behavioral

Behavioral

______ segmentation forms market segments based on the way consumers use a product, such as more frequently or with greater loyalty. Multiple choice question. Lifestyle Benefit Behavioral Substantial

Behavioral

Qualitative research relies on experiments and surveys. True false question. True False

False

True or False: The global population has only experienced negative population growth since the turn of the 20th century in both less developed nations and developed countries. True false question. True False

False

True or false: A questionnaire is a research technique that attempts to analyze consumer sentiments based on their social media activity. True false question. True False

False

True or false: Marketing researchers are free to use customer data in any way they need to, as long as the researchers did not collect it. True false question. True False

False

Which of the following are benefits of conducting surveys online (vs. offline)? Select all that apply. Multiple select question. Faster processing More correct responses Higher response rate Lower cost

Faster processing Higher response rate Lower cost

Which term refers to a strategy in which firms sell a standardized product around the world but develop different promotional campaigns for different countries? Multiple choice question. Globalization Global-local approach Reverse innovation Glocalization

Glocalization

Which of the following is defined as the basic facilities, services, and installations needed for a community or society to function? Multiple choice question. GDP Global trade Infrastructure Technological capabilities

Infrastructure

______ is the process by which ideas are transformed into new products and services that will help firms grow. Listen to the complete question

Innovation

_____ are those buyers who want to be the first on the block to have a new product or service.

Innovators

Firms can highlight a product's relative advantage, which refers to which perception among consumers about the product? Multiple choice question. It is new and innovative. It is better than its substitutes. It is less expensive than competitors. It is the most popular item on the market.

It is better than its substitutes.

_____ is an agreement through which one firm buys the rights to use the technology or ideas of another research-intensive firm.

Licensing

______ consists of a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas. Multiple choice question. Marketing strategy Marketing research Strategic planning Marketing management

Marketing research

Which of the following help to increase a brand's equity? (Choose every correct answer.) Multiple select question. Perceived value Lower prices from competitors Customer loyalty Competition level Brand awareness

Perceived value Customer loyalty Brand awareness

Which of the following are marketing segmentation approaches? (Check all that apply.) Multiple select question. User Psychographic Benefits Geographic Collaborative

Psychographic Benefits Geographic

Examples of communication media that firms use to create brand awareness include which of the following? (Choose every correct answer.) Multiple select question. Publicity Low prices Advertising Licensed brands

Publicity Advertising

Recharge Question Mode Multiple Choice Question ______ research, such as a focus group, attempts to begin to understand phenomena of interest with broad, open-ended questions. Multiple choice question. Quantitative Experimental Survey Qualitative Secondary

Qualitative

___________ research provides mathematical information needed to confirm insights, and managers can use it to pursue appropriate courses of action through many types of data collection. Multiple choice question. Descriptive Experimental Quantitative Exploratory

Quantitative

What is a data collection technique that features a document with questions designed to gather information from respondents to attain researcher objectives? Multiple choice question. Focus group Questionnaire In-depth interview Quiz

Questionnaire

What are the two basic types of brand ownership strategies? Multiple select question. Product brands Retailer/store brands Manufacturer brands Price brands

Retailer/store brands Manufacturer brands

What analytical method does a firm typically employ to assess the target market and its own competencies? Multiple choice question. Profit and loss analysis Ratio analysis SWOT analysis Target market buying power analysis

SWOT analysis

Firms position products based on which of the following? (Choose every correct answer.) Multiple select question. Salient attributes Demographics Psychographics Value Symbols

Salient attributes Value Symbols

_____ is the image people ideally have of themselves. Multiple choice question. Self-value Self-concept Self-selection Lifestyle

Self-concept

What is the most common method of introducing a product or service outside of the home country? Multiple choice question. Purchasing and reselling a product or service originally produced in the host country Selling a completely new product or service in the host country Selling the same product or service in the home country and host country Selling a similar product or service in the host country with only minor adaptations

Selling the same product or service in the home country and host country

Which traits are true of ALL products? (Choose every correct answer.) Multiple select question. Something that a customer values Bought through an online distributor Delivered directly to the consumer Offered through a marketing exchange

Something that a customer values Offered through a marketing exchange

Which of the following is a market entry strategy in which independent companies form a partnership to collaborate in the foreign market but do NOT invest in each other? Multiple choice question. Strategic alliance Direct investment Exporting Licensing Franchising

Strategic alliance

Select all of the following that are quantitative research methods. (Choose every correct answer.) Multiple select question. Survey Scanner data Focus groups Projective techniques Experiments

Survey Scanner data Experiments

Which of the following have a direct impact on pricing in the global marketplace? (Choose every correct answer.) Multiple select question. Social factors in different countries Tariffs and antidumping laws National rules governing the competitive marketplace Cultural issues between countries

Tariffs and antidumping laws National rules governing the competitive marketplace

Which of the following is an example of occasion segmentation for a chocolate maker? Multiple choice question. The company prices its chocolates differently in different geographic areas. The company sells both regular and sugar-free chocolate. The company offers some of its chocolates in heart-shaped boxes for Valentine's Day. The company sells white, milk, and dark chocolate to serve different taste preferences.

The company offers some of its chocolates in heart-shaped boxes for Valentine's Day.

Manufacturer brands such as Kraft and Nike are owned and managed by whom? Multiple choice question. The retailer The private label The manufacturer A generic conglomerate

The manufacturer

Which of these is not an advantage of secondary data? Multiple choice question. They can be obtained quickly. They are easy to customize. They can sometimes be obtained from the company itself. They are often inexpensive.

They are easy to customize.

When firms develop a marketing mix as part of their global marketing strategy, what is their primary goal? Multiple choice question. To eliminate waste in the supply chain To sustain a competitive advantage over time To improve customer relations regardless of cost To trigger a short-term surge in sales

To sustain a competitive advantage over time

If a laundry soap manufacturer decides to introduce a single-use package of detergent in a developing country when it only sells the detergent in bulk sizes in the home country, which global product strategy is the company using? Multiple choice question. Glocalization Reselling foreign products Same product or service Totally new product or service

Totally new product or service

What global product strategy does a firm pursue if it offers a product in one country that uses ingredients not found in the products it sells in other countries? Multiple choice question. Same product or service Totally new product or service Glocalization Reselling foreign goods

Totally new product or service

The complex value chains inherent in global distribution networks include which of the following? (Choose every correct answer.) Multiple select question. Transportation systems Local governments Importers and exporters Wholesalers Consumers

Transportation systems Importers and exporters Wholesalers

True or False: Brands are sold either under a common/family name or as an individual brand. True false question. True False

True

True or False: Brazil is currently in the top ten of the world's largest economies. True false question. True False

True

True or False: Lifestyles are a component of psychographic segmentation that describes how an individual lives his or her life to achieve goals. True false question. True False

True

Which situation represents an important marketing opportunity for creating new products or altering existing products? Multiple choice question. When customers have little need or desire for the firm's offerings When customer needs are not completely met When customers' needs are met by the firm and its competitors When customers are satisfied with only the firm's offerings

When customer needs are not completely met

A country's infrastructure includes all of the following EXCEPT ______. Multiple choice question. transportation systems schools and post offices a culture that accepts innovation water and power lines

a culture that accepts innovation

The level of economic development, as well as differences in product and technical standards, help determine the need for and level of product ______ in a global product strategy. Multiple choice question. assembly adaptation branding satisfaction

adaptation

Early ______ are the category of consumers who begin to use a product or service immediately following innovators. (Remember to type only one word in each blank.)

adopters, adoptors, adapters, or adoption

The mental link customers make between a brand and its key product attributes is known as brand ______. Multiple choice question. asset association equity loyalty

association

One consumer research exercise asks consumers to say the first things that occur to them when they hear a brand name. For example, for the brand "Coca-Cola," someone might respond, "Red and white cans, sweet, carbonated." These are examples of brand ______. Multiple choice question. personality equity loyalty associations

associations

The third step of the market segmentation process is to evaluate segment ________ market , Incorrect Unavailable, which is based on such criteria as its profitability, responsiveness, and reachability.

attractiveness

Marketers can assess the level of brand ______ by measuring the extent to which consumers in a market are familiar with a brand, know what it stands for, and have an opinion about it. Multiple choice question. awareness loyalty equity value

awareness

If a brand has a high degree of brand ______, it means that most consumers are familiar with the brand and what it stands for even if they do not use the brand.

awareness or recognition

One of Taco Bell's most successful new products has been its "Doritos Locos Tacos," tacos with shells in the flavors of Doritos taco chip varieties. This is an example of ______. Multiple choice question. brand repositioning co-branding generic branding brand dilution

co-branding

Firms find it necessary to use data mining techniques to extract valuable information from their _____________. Multiple choice question. data warehouses info warehouses group warehouses customer warehouses

data warehouses

The analyst prepares the results to present them to a firm's ______ as a final step in the marketing research process. Multiple choice question. decision makers vendors customers competitors

decision makers

When the _____ majority of consumers enters the market, the market has already reached its full market potential.

late

The ______ strategy must be consistent with and derived from the firm's mission and objectives, as well as its current situation—its strengths, weaknesses, opportunities, and threats (SWOT). Multiple choice question. shareholder accounting demographic segmentation

segmentation

A successful marketing plan requires identifying and evaluating opportunities by performing an STP analysis, which stands for ______. Multiple choice question. strategy, tactics, and positioning segmentation, tactics, and positioning segmentation, targeting, and positioning segmentation, targeting, and promotion

segmentation, targeting, and positioning

Another term for self-concept is ______. Multiple choice question. self-selection self-awareness self-reflection self-image

self-image

A tariff is a ______ imposed on a product imported into a country. Multiple choice question. tax quota currency boycott or embargo

tax

When Subway introduced a new Southwestern Club sandwich in South Florida before launching it nationwide, it was engaging in ______. Multiple choice question. test marketing beta testing alpha testing concept testing

test marketing

In most situations, data collection should begin only after ______. Multiple choice question. the researcher has requested primary data needed the research design process is finished the data are interpreted as information data analysis is complete

the research design process is finished

Firms position their products based on methods such as ______. Multiple choice question. demographics, geodemographics, psychographics, and benefits the value proposition, salient attributes, symbols, and competition product, price, place, and promotion undifferentiated positioning, concentrated positioning, differentiated positioning, and micropositioning

the value proposition, salient attributes, symbols, and competition

The problem with using the product life cycle concept is that no one can predict the shape that the product's life cycle will take; therefore, it is impossible to know ______. Multiple choice question. which stage the product is in if more prototypes would be beneficial which group of consumers like the product if the cost of the product is accurate

which stage the product is in

Which of the following is a method firms use to create positive brand associations? Multiple choice question. Catchy jingles Low prices Franchise agreements Efficient distribution networks

Catchy jingles

What are products that household buyers use for their own use called? Multiple choice question. Loyalty products Business products Ritual products Consumer products

Consumer products

What is a key characteristic of the maturity stage? Multiple choice question. Adoption of the product by early majority Firms defending market share High prices Few competitors

Firms defending market share

Which of the following industries are most likely to participate in a research consortium? (Choose every correct answer.) Multiple select question. Fast food High-tech Toys Pharmaceuticals

High-tech Pharmaceuticals

What are the causes of recent changes in the field of marketing research? (Select all that apply.) Multiple select question. Improved ability to collect data Access to analytic dashboards for decision making Consumers becoming increasingly more difficult to analyze Ability to store and manipulate data with computers Weaker federal privacy laws opening new avenues for research

Improved ability to collect data Access to analytic dashboards for decision making Ability to store and manipulate data with computers

Which of these is NOT an advantage of secondary research? Multiple choice question. Requires relatively little research design It is quicker to collect than primary data It is often free (or can be obtained at a low cost) It is the best source of unbiased data

It is the best source of unbiased data

What are the advantages of secondary research? (Choose every correct answer.) Multiple select question. It saves time in data collection because it is readily available. It is specific to data needs for the topic in hand. It offers behavioral insights. It reduces the cost of data collection.

It saves time in data collection because it is readily available. It reduces the cost of data collection.

What will happen to a firm if it continues to produce the same products in a saturated market? Multiple choice question. Its revenues will grow slowly. It will experience rapid growth. It will eventually decline. Its revenues will stay the same.

It will eventually decline.

______ are consumers who like to avoid changes and rely on traditional products until they are no longer available. Crawlers Traditionalists Laggards Lollygaggers

Laggards

Branding enables a firm to do which of the following? (Choose every correct answer.) Multiple select question. Eliminate advertising spending Make consumers aware of available products Reintroduce old products at a higher cost Differentiate its product offerings

Make consumers aware of available products Differentiate its product offerings

Which of the following are current population trends that affect marketing strategy? (Choose every correct answer.) Multiple select question. Rapid population growth in less developed countries Stagnant population growth in less developed countries Stagnant or declining population in developed countries Excessive population growth in developed countries

Rapid population growth in less developed countries Stagnant or declining population in developed countries

Which of the following steps are part of the segmentation, targeting, and positioning process? (Choose every correct answer.) Multiple select question. Selecting target market Establish strategy or objectives Evaluating segment attractiveness Develop the marketing plan Increasing benefits

Selecting target market Establish strategy or objectives Evaluating segment attractiveness

Which of the following are examples of self-values? (Choose every correct answer.) Multiple select question. Self-indulgence Self-respect Self-fulfillment Sense of belonging

Self-respect Self-fulfillment Sense of belonging

______ are goals for life, not just the goals one wants to accomplish in a day. They are the overriding desires that drive how a person lives his or her life. Multiple choice question. Mile markers Self-values Self-perceptions Lifestyles

Self-values

Which of the following are the three potential global product strategies? (Choose every correct answer.) Multiple select question. Selling all the firm's products only in the host country and not the home country Selling the same product or service in both the home and host country Selling a product in the host country with minor adaptations from what is sold in the home country Selling a completely new product in the host country

Selling the same product or service in both the home and host country Selling a product in the host country with minor adaptations from what is sold in the home country Selling a completely new product in the host country

Match the type of good (specialty or shopping) with the appropriate description.

Specialty Good: Consumer spends lots of time and effort involved in searching, may compare alternatives and options, and consumer has a good idea of the brand he or she will buy in advance Shopping Good: Compares alternatives and consumer spends moderate amounts of time and effort deciding among products, features, and brands

Which of the following describes the core customer value of a product? Multiple choice question. The basic benefits consumers are seeking Attributes such as design/features, quality level, and packaging Product warranties and financing The price range

The basic benefits consumers are seeking

What marketing opportunities does a firm have when customer needs are unmet? (Choose every correct answer.) Multiple select question. The opportunity to identify new market segments The opportunity to augment existing products or services The opportunity to create new products or services The opportunity to change customer needs

The opportunity to augment existing products or services The opportunity to create new products or services

When researchers define the objectives and needs of their project, what are they trying to establish? Multiple choice question. The best method of delivering results to the client The methods by which they will collect data The results that need to be confirmed The problem that needs to be solved

The problem that needs to be solved

Which of the following are some details used to evaluate the general economic environment? (Choose every correct answer.) Multiple select question. Transportation The trade deficit or surplus Uncertainty avoidance The GDP

The trade deficit or surplus The GDP

In recent years, firms have improved their ability to collect data from which of the following sources? (Select all that apply.) Multiple select question. Transactions Customer relationship management systems Bank records and tax returns Websites and social media platforms

Transactions Customer relationship management systems Websites and social media platforms

True or False: A global marketing mix is more complicated than a domestic marketing mix. True false question. True False

True

Which of the following are included in the ideas for sustainable packaging? (Check all that apply.) Multiple select question. Using 3D printing Using returnable packaging Adding recycled materials to packaging Adding more layers of plastic

Using 3D printing Using returnable packaging Adding recycled materials to packaging

What might a concept include along with a brief written description of the product? (Choose every correct answer.) Multiple select question. The final product Visual images Customer needs it satisfies Ideas generated

Visual images Customer needs it satisfies

Gross domestic product is defined as the total market value of ______ produced by a country in a year. Multiple choice question. the quotas and tariffs used to protect the market that is all goods and services all real estate and property the channels of distribution and flow of commerce

all goods and services

Southwest Airlines promotes its Rapid Rewards program to reward frequent flyers with benefits like free travel vouchers, priority seating, and premium beverages. This is an example of ______ segmentation. Multiple choice question. multiple psychographic behavioral occasion

behavioral

When a group works together to generate a number of ideas and then determines which is the best idea, this is referred to as _____

brainstorming

The set of assets and liabilities linked to a brand that add to or subtract from the value provided by a product or service is _____ equity.

brand

The step in the marketing research process that follows research design is ______. Multiple choice question. analyzing the data presenting the results designing the research collecting the data

collecting the data

Benefit segmentation is often effective because it is relatively easy to portray a product's or service's benefits in the firm's ______ strategies. Multiple choice question. sales communication supply chain relationship

communication

Market positioning is done so that the target customers have an understanding of the product offered by the company in comparison with ______ products. Multiple choice question. previous conceptual competing compatible

competing

The second step in the marketing research project involves design. In this step, researchers identify the type of ______ needed and work out the type of ______ necessary to collect it. Multiple choice question. data; research customers; research money; people data; people

data; research

When a product goes into the _____ stage of the product life cycle, the product eventually exits the market.

decline

The most common method of evaluating the economic health of a country is to use metrics that measure the country's ______. Multiple choice question. consumption of goods and services trade balance economic output currency value

economic output

Brands are assets that a firm can build and harness over time to increase its ______. Multiple choice question. consumer trust liabilities equity marketing expenditures

equity

Because research is ______, it is important to figure out beforehand exactly what problem needs to be solved. Multiple choice question. expensive and uninformative proprietary and time-consuming proprietary and informative expensive and time-consuming

expensive and time-consuming

A country with a trade surplus ______. Multiple choice question. imports as many goods as it exports exports more goods than it imports imports more goods than it exports exports as many goods as it imports

exports more goods than it imports

The use of an existing brand name in a different product line is called brand ______. Multiple choice question. placement dilution lengthening extension

extension

Apple sells the majority of products under its Apple name brand. This is known as a(n)______ brand. Multiple choice question. global individual competitive family

family

A strategic alliance is a type of ______ firms use to expand into the foreign market. Multiple choice question. global licensing strategy global entry strategy foreign direct investment global exporting strategy

global entry strategy

Although there are numerous stages in the product development process, every firm starts to develop new products through ______ and then finishes with an evaluation of ______. Multiple choice question. idea degradation; failures product deliberation; alternatives idea generation; results produce manifestation; alternatives

idea generation; results

A trade deficit means that a country ______. Multiple choice question. imports more goods than it exports exports more goods than it imports imports and exports an equal amount of goods has a healthy balance of trade

imports more goods than it exports

______is a qualitative research technique in which researchers ask questions in a one-on-one setting, record the answers, and then ask additional questions to clarify a particular issue.

in depth interview

Multiple Choice Question Global distribution networks form complex value chains that ultimately ______ the final selling price of a product. Multiple choice question. increase decrease negate equalize

increase

While the ______ is first to adopt the item, the ______ adopts next. Multiple choice question. early adopter; innovator innovator; early adopter innovator; creator early adopter; creator early adopter; early majority

innovator; early adopter

An exchange rate quantifies how much a currency ______. Multiple choice question. is worth in relation to another can buy costs to make is lost in the exchange process

is worth in relation to another

A firm's product line depth is the number of ______ within a product line, as opposed to the number of product lines a firm has. Multiple choice question. mixes brand names items package sizes

items

The component of the product package that provides the information consumers need to make their purchase decisions and for proper consumption of the product is known as the ______. Multiple choice question. message label built in package primary package

label

During the decline stage of the product life cycle, ______ who have not yet tried the product or service will be entering the market for the first time. Multiple choice question. marketers innovators early adopters laggards

laggards

Exporting is an entry strategy that requires the _____ financial risk and allows a(n) _____ return to the firm. Multiple choice question. most; limited most; unlimited least; limited least; unlimited

least; limited

When entering their first foreign markets, firms typically take a(n) ______ approach. Multiple choice question. no-risk all-or-nothing less risky very risky

less risky

In a ______ agreement companies buy the rights to use technologies from another company. Multiple choice question. joint venture franchising scientific technological licensing

licensing

The use of the same brand name within the same product line is called a(n) ______. Multiple choice question. line extension augmented product brand association brand extension

line extension

The process of dividing the market into groups of customers who have different needs, wants, or characteristics is called ______. Multiple choice question. customer marketing market positioning market segmentation target marketing

market segmentation

The product ______ is the complete set of all products and services offered by a firm. Multiple choice question. mix width line brand category

mix

Fill in the blank question. The complete set of all products and product lines offered by a firm is called its product assortment, or product_____

mix or depth

When adopting strategies for entering a new market, many firms follow a(n) approach that morphs and becomes ______ over time. Multiple choice question. more risky more costly less risky less profitable

more risky

Because each segmentation method has its unique advantages and disadvantages, most firms often employ ______ methods. Multiple choice question. multiple simple individual basic

multiple

From the customer's perspective, the relationship between a product's or service's benefits and costs is called ______. Multiple choice question. brand equity perceived brand brand awareness perceived value

perceived value

Geico Insurance uses characters like the gecko and humorous associations with ______ emotions to reinforce the brand. Multiple choice question. positive threatening negative stable

positive

The components of a country market assessment include all of the following EXCEPT ______. Multiple choice question. sociocultural analysis pricing and product decisions infrastructure and technology government actions and laws

pricing and product decisions

Brand repositioning is also known as ______. Multiple choice question. co-branding rebranding brand licensing brand dilution

rebranding

A brand, such as T-Mobile, can build awareness through ______ exposure to the brand's logo, symbols, and slogans. Multiple choice question. repeated expensive limited concentrated

repeated

benefit of online versus more traditional marketing surveys is that the ______ rate is higher. Multiple choice question. accuracy completion response experiment

response

The last phase of the marketing research process is presenting ______ to decision makers. Multiple choice question. results raw data untested theories an invoice

results

Whenever you go into your local grocery store, your purchases are rung up using hardware that is a ______ system. The data from these purchases are likely to be acquired by leading marketing research firms. Multiple choice question. pricing panel scanner bar code

scanner

When you make a purchase at a grocery store, the ______ are often collected by marketing research firms to help understand consumers' purchasing behavior. Multiple choice question. scanner data sales receipts qualitative data focus group results

scanner data

Exporting happens when a firm produces a product in its domestic plants and then ______. Multiple choice question. reprocesses it in a foreign country sells it in a foreign country buys it from a foreign country sells it in its own country

sells it in a foreign country

Data mining uses various ______________ tools to uncover previously unknown patterns in the data or relationships among variables. Multiple choice question. customer statistics statistical analysis customer analysis statistical information

statistical analysis

A(n) ______ question is a closed-ended question with a specific set of possible answers, such as a yes/no question. Multiple choice question. structured experimental circular unstructured

structured

A(n)_________ is a systematic method of collecting information from people through a questionnaire.

survey

If a media company wants information on consumers' television viewing habits, it can purchase reports compiled by commercial research firms such as Nielsen. This is an example of ______ data. Multiple choice question. syndicated primary obscure internal

syndicated

Good marketing increases perceived ______ by raising customers' quality expectations relative to price.

value

Firms that collect a large amount of customer information and purchase history store it in large computer files called data _________. Multiple choice question. libraries mines panels warehouses

warehouses

Place the steps in the segmentation, targeting, and positioning process in order, with the first step at the top.

1. Establish strategy or objectives 2. Use segmentation methods 3. Evaluate segment attractiveness 4. Select target market 5. Identify and develop positioning strategy

Click and drag on elements in order Put the stages in the product life cycle in order from first to last, with the first stage at top.

1. Introduction 2. Growth 3. Maturity 4. Decline

The product development process can be diagrammed as a sequential process. Place the stages in order, with the first stage at top.

1. idea generation 2. concept testing 3. product development 4. market testing 5. product launch 6. evaluation of results

The early majority represents approximately ______ of the total consumer market and is crucial to the profitability of a product or service. Without them, the product or service will typically fail. Multiple choice question. 12.5% 50% 2.5% 34%

34%

Where should demographic questions appear in a questionnaire? Multiple choice question. In the middle In a follow-up document At the beginning At the end

At the end

Which of the following is the measure of how much one currency is worth in relation to another? Multiple choice question. Import quota Joint venture Trade agreement Exchange rate

Exchange rate

A firm that is considering changing the colors used on its packaging wants to determine the effect of different color schemes on sales. To do so, the firm places three different packages in stores in three different markets. What type of research is this? Multiple choice question. Social media Focus group Survey Experimental

Experimental

Which of the following is NOT a quantitative research method? Multiple choice question. Surveys Focus groups Experiments Scanner research

Focus groups

Which of the following is an accurate definition of the term data? Multiple choice question. Raw numbers with no intrinsic meaning Conclusions derived from the analysis of raw numbers Goals or benchmarks that a firm strives to achieve Methods used for collecting information on a subject

Raw numbers with no intrinsic meaning

A joint venture is formed when a firm ______ a new market and ______ its resources with those of a local firm to form a new, shared company. Multiple choice question. exits; exports exits; pools enters; imports enters; pools

enters; pools

The value of a brand can be calculated and compared to other brands in the form of brand ______. Multiple choice question. profitability equity loyalty assets

equity

A product mix typically consists of product ______, or groups of associated items. Multiple choice question. depth lines assortments breadth

lines

Ellie's Deli offers good sandwiches and fast service to its lunchtime customers from a nearby university. It also delivers the same sandwiches packaged with side dishes as part of its catering services. This is an example of ______ segmentation. Multiple choice question. occasion demographic reachable loyalty

occasion

If a firm has positive results from market testing, the next step will be the ______

product launch

Which two of the following are franchises? (Choose every correct answer.) Multiple select question. A Holiday Inn motel A McDonald's restaurant A Snickers candy bar A local clothing store

A Holiday Inn motel A McDonald's restaurant

Which of the following are among the five stages in the marketing research process? (Choose every correct answer.) Multiple select question. Staffing the research project Analyzing the data Defining objectives Collecting the data

Analyzing the data Defining objectives Collecting the data

Recharge Question Mode Multiple Choice Question __ is the shared meanings, beliefs, morals, values, and customs of a group of people. Multiple choice question. Branding Trade Infrastructure Culture

Culture

______ research systematically manipulates one or more variables to determine which variables have a causal effect on another variable. Multiple choice question. Data mining Survey In-depth interview Experimental

Experimental

What is a major economic factor that a firm conducting an economic analysis of a country market must take into account? Multiple choice question. The number of market segments General economic environment Existence of trade agreements Level of education

General economic environment

In the twenty-first century, goods, services, capital, people, information, and ideas often flow across international borders in a process known as

Globalization

What is the process that causes an increased flow of goods, services, capital, people, information, and ideas across national borders? Multiple choice question. Protectionism Economic analysis Globalization Nationalization

Globalization

Which of the following metrics measures a country's economic output? Multiple choice question. Purchasing power parity (PPP) Gross domestic product (GDP) Gross national happiness Trade surplus/deficit

Gross domestic product (GDP)

_______ segmentation is a very specific form of behavioral segmentation by which segments are formed based on when a product or service is purchased or consumed.

Occasion

Which of the following processes could be considered an acceptable method for generating ideas? (Choose every correct answer.) Multiple select question. Arguing with other firms and institutions Researching competitors' products and services Brainstorming within the firm Conducting consumer research Communicating with a firm's R&D department

Researching competitors' products and services Brainstorming within the firm Conducting consumer research Communicating with a firm's R&D department

______ defines the stages products move through as they enter, get established in, and ultimately leave the marketplace. Multiple choice question. The product life cycle Diffusion of innovation Alpha and beta testing The product development process

The product life cycle

The process by which the use of an innovation, whether it be a product or service, is spread throughout a market group over time and over various categories of adopters, is known as ______. Multiple choice question. the product life cycle distribution of product inventory diffusion of innovation viral marketing

diffusion of innovation

Kellogg's sells a variety of products under its Kellogg's name brand. It then identifies groups of products with a secondary name such as Raisin Bran or Froot Loops, each in several sizes and versions. Froot Loops is known as a(n) _____ brand. Multiple choice question. corporate individual private-label family

family

When a firm sells all its products under one ______, such as Pepperidge Farm, the individual brands benefit from the overall brand awareness associated with it. Multiple choice question. exclusive co-brand individual brand family brand premium brand

family brand

Because a brand name is already well established, a firm can spend ______ resources to develop consumer brand awareness when introducing a brand extension. Multiple choice question. more fewer zero equivalent

fewer

Segmentation that uses a combination of geographic, demographic, and lifestyle characteristics to classify consumers who may patronize stores close to their neighborhood is called ______ segmentation. Multiple choice question. benefit regional behavioral geodemographic

geodemographic

Market differences across regions, states, or neighborhoods create opportunities for ______. Multiple choice question. psychographic segmentation concentrated segmentation geodemographic segmentation geographic segmentation

geographic segmentation

What is a major benefit of selling the exact same product or service in both the home and host countries? Multiple choice question. Recognizing cultural values in each market Being responsive to the needs of consumers in each market Reducing transportation costs Establishing strong brand recognition

Establishing strong brand recognition

Recharge Question Mode Multiple Choice Question Product development entails a variety of processes and considerations to determine which aspects of a product or service? Multiple choice question. Sales potential Form and features Customers and distributors Marketing strategy

Form and features

Which of the following criteria are necessary to assess a country's market? (Choose every correct answer.) Multiple select question. Infrastructural analysis Economic analysis Climatological analysis Sociocultural analysis

Infrastructural analysis Economic analysis Sociocultural analysis

A perceptual map is used in developing a positioning strategy in order to display the position of the products or brands in the ______ mind. Multiple choice question. brand marketer's competitor's retailer's consumer's

consumer's

_____ segmentation variables include age, income, and gender.

demographic

What are the key characteristics of the growth stage of the product life cycle? (Choose every correct answer.) Multiple select question. Competitors increase Sales rise Sales stabilize Typical consumers are innovators

Competitors increase Sales rise

Brand awareness is MOST likely to influence purchasing decisions for which type of product? Multiple choice question. Goods never purchased before by the consumer Goods that the consumer spends a lot of time researching Goods purchased infrequently Goods purchased frequently habitually

Goods purchased frequently habitually

Why might a firm prefer to manufacture in a country that has a trade surplus? Multiple choice question. A trade surplus provides a concrete value chain in the host country. The United States offers extensive tax benefits for companies operating in trade surplus countries. A trade surplus offers the chance to export to more markets. Most government regulations are looser under trade surplus conditions.

A trade surplus offers the chance to export to more markets.

What type of segmentation categorizes consumers on the basis of the outcomes they hope to derive from a product or service? Multiple choice question. Geodemographic Psychographic Behavioral Benefit

Benefit

Neuromarketing examines what to determine consumers' responses to products? Multiple choice question. Facial recognition Sentiment mining Brain patterns Iris scans

Brain patterns

What makes the search for shopping goods different from the search for specialty goods? Multiple choice question. Consumers are willing to consider alternative brands and features with shopping goods. Consumers are not willing to expend any effort in seeking shopping goods. Consumers spend a significant amount of time searching for shopping goods. Consumers are willing to purchase shopping goods from any number of suppliers.

Consumers are willing to consider alternative brands and features with shopping goods.

Typically, who determines the product's or service's value in relationship to that of its close competitors? Multiple choice question. Manufacturers Suppliers Retailers Customers Marketers

Customers

When marketers seek to evaluate market attractiveness, what must they do first? Multiple choice question. Determine whether the segment is worth pursuing Develop a perceptual map Develop a positioning strategy Secure a marketing communications license

Determine whether the segment is worth pursuing

When Frito-Lay decided to introduce a salsa product line, it used the existing Tostitos brand (under which it sells taco chips). What advantages did this strategy provide Frito-Lay? (Choose every correct answer.) Multiple select question. Frito-Lay could spend less on developing consumer brand awareness. The Tostitos brand already had brand associations that helped to sell salsa. Frito-Lay did not have to do any promotion of the new product. Frito-Lay could introduce the product to the market more quickly.

Frito-Lay could spend less on developing consumer brand awareness. The Tostitos brand already had brand associations that helped to sell salsa. Frito-Lay could introduce the product to the market more quickly.

What is a qualitative research technique in which trained researchers ask questions to a few selected participants individually, record the answers, and then ask additional questions if needed for clarification? Multiple choice question. Online survey Focus group In-depth Interview Observation

In-depth Interview

Which of the following factors is included in gross national income (GNI) but NOT gross domestic product (GDP)? Multiple choice question. Value of goods produced in a country Income from foreign investments Value of services produced in a country Value of goods imported into a country

Income from foreign investments

A firm that joins with other firms as well as government and educational institutions to research a costly new technology is participating in which of the following? Multiple choice question. Licensing Research consortium Internal research and development Outsourcing

Research consortium

Suppose you work in the marketing department of a company and your boss, the marketing manager, asks you to take on a marketing research project. "But I'm not giving you any money for data collection," your boss says. "You can just use secondary data; they can meet all our needs and we can get them for free." Which of the following is the best argument against your boss's decision not to give you any funds for the research? Multiple choice question. Secondary data will take too long to collect. Secondary data always cost at least a small amount of money. Secondary data may not be specific enough to meet the needs of the research. Primary data are always preferable to secondary data.

Secondary data may not be specific enough to meet the needs of the research.

What does a brand need in order to be somewhat protected from competition from other firms and price competition? (Choose every correct answer.) Multiple select question. A loyal customer base A hard plastic package A celebrity endorsement An established track record in the market

A loyal customer base An established track record in the market

Which of the following is an example of geographic segmentation? Multiple choice question. A solar panel installation company targets its web advertisements to individuals who have expressed an interest in environmental friendliness. A ski and snowboard equipment manufacturer markets its goods in states that have snowy mountains and ski resorts. A razor blade manufacturer sends samples of its products to 14-year-old males. A diaper company sends direct mailers to individuals or couples that have recently had children.

A ski and snowboard equipment manufacturer markets its goods in states that have snowy mountains and ski resorts.

Which of the following is an example of a brand extension? Multiple choice question. Acme cars and generic pencils Acme sleds and Timberland boots Acme chips and Acme dips Acme barbecue potato chips and Acme salt and vinegar potato chips

Acme chips and Acme dips

What are the key characteristics of the growth stage of the product life cycle? (Choose every correct answer.) Multiple select question. Competitors increase Typical consumers are innovators Sales stabilize Sales rise

Competitors increase Sales rise

A contractual arrangement between firms where one firm allows another to use its brand name, logo, symbols, and/or characters in exchange for a negotiated fee is called ______. Multiple choice question. brand licensing brand repositioning brand extension co-branding

brand licensing

Benefit segmentation is often effective because it is relatively easy to portray a product's or service's benefits in the firm's ______ strategies. Multiple choice question. supply chain sales relationship communication

communication

Observation can be described as ______ through personal viewing or by means of a video camera. Multiple choice question. counting sales examining purchase and consumption behavior prohibiting certain behaviors asking questions to record answers of participants

examining purchase and consumption behavior

Foster Designs sells different types of clothing for men and women. To ensure the retail store locations contain the appropriate assortment of clothing for the typical customer living in the area, the firm should use ______ segmentation. Multiple choice question. geodemographic benefit psychographic behavioral demographic

geodemographic

Direct investment exposes a firm to ______ risk. Multiple choice question. very little significant minimal shared

significant

Which of the following best describes a focus group? Multiple choice question. A large group of people with knowledge about the product category and brand A small group of people who are required to purchase the product A large group of people casually interacting with objective customers A small group of people put together for an intensive discussion

A small group of people put together for an intensive discussion

How does developing descriptions of each market segment help firms? (Choose every correct answer.) Multiple select question. By revealing similarities across market segments By determining the most attractive market segments By identifying similarities within market segments By identifying differences across market segments

By identifying similarities within market segments By identifying differences across market segments

______ are raw numbers, that on their own, have limited value to marketers. Multiple choice question. Averages Statistics Scales Data

Data

Hightower Industries wants to be a pioneering firm in the robotics and artificial intelligence industry. Which strategy is the company most likely to pursue? Multiple choice question. Invest heavily in research and development Copy existing products on the market that have significant potential for growth Purchase the rights to products developed by overseas producers Read trade journals to understand what other companies in the market are pursuing

Invest heavily in research and development

When K-Mart paid Martha Stewart (famous for her business related to lifestyle and the home) a fee in return for permission to introduce a line of towels and other housewares bearing Stewart's name, it was an example of ______. Multiple choice question. brand repositioning brand licensing brand extension co-branding

brand licensing

A firm's product mix _____ represents the number of product lines offered by the firm. Multiple choice question. brand category breadth depth

breadth

Recharge Question Mode Fill in the Blank Question Fill in the blank question. A is a written description of a product and its technology and is presented to potential buyers or users to obtain their reactions.

concept

Branding provides a way for a firm to ______ its product offerings from those of its competitors. Multiple choice question. differentiate monetize license commoditize

differentiate

When a firm decides to standardize its products globally but use different promotional campaigns, this strategy is referred to as ______. (Please read the question carefully!) Multiple choice question. localization glocalization standardization globalization

glocalization

A strong brand protects firms from which of the following? (Choose every correct answer.) Multiple select question. An existing competitor lowering prices An overall drop in consumer demand New products offering similar features or benefits Changes in industry trends

An existing competitor lowering prices New products offering similar features or benefits

Which of the following are factors that have contributed to Brazil's economic growth in the 21st century? (Choose every correct answer.) Multiple select question. An increase in the literate population The availability of cheap imports from other countries Strong restrictions on foreign investment Social programs that have expanded the middle class

An increase in the literate population Social programs that have expanded the middle class

Which of the following are included in marketing research? (Check all that apply.) Multiple select question. Editing data Analyzing data Interpreting data Collecting data Selling data

Analyzing data Interpreting data Collecting data

What must occur for the perceived value of a cheaper product to be high? Multiple choice question. The cheaper product must be endorsed by a celebrity or other notable figure. The cheaper product must have the same or higher brand awareness than premium products. Consumers must believe the quality of the cheaper product is about the same as that of a premium product. The price of the cheaper product must be below half that of a premium product.

Consumers must believe the quality of the cheaper product is about the same as that of a premium product.

When a firm enters into a joint venture agreement with a local firm, the two investors will then share which of the following? (Choose every correct answer.) Multiple select question. Control of business operations Any profit gained Ownership of the firm Voting shares in each company's other divisions

Control of business operations Any profit gained Ownership of the firm

___________ uses various statistical analysis tools to discover previously unknown patterns in the data or relationships among variables. Multiple choice question. Data mining Statistics mining Data scaling Information scaling

Data mining

If a handbag manufacturer offers three different purses (a budget-conscious version, a slightly higher-end version, and a luxury version) to three different target markets, which targeting strategy is it using? Multiple choice question. Undifferentiated Concentrated Differentiated Micromarketing

Differentiated

______________ is the process by which the use of an innovation, whether a product or a service, spreads throughout a market group over time and over various categories of adopters. (Enter one word in each blank.)

Diffusion of innovation

Which of the following types of businesses would be MOST affected by pricing laws that prohibit selling products below cost? Multiple choice question. High-end luxury goods retailers Discount retailers such as Walmart Product delivery and transportation services Raw materials suppliers

Discount retailers such as Walmart

Which of the following statements about firms' expectations regarding the success of internal research and development efforts is true? Multiple choice question. Firms expect that every product developed by in-house researchers will be profitable. Firms expect that a few highly successful products will cover the costs of the entire R&D effort. Firms do not track the profitability of their R&D efforts because some research pays off many years later. Firms expect to lose money on R&D in the long run but consider it an advertising expense.

Firms expect that a few highly successful products will cover the costs of the entire R&D effort.

Why is global segmentation, targeting, and positioning (STP) more complicated than domestic STP? (Choose every correct answer.) Multiple select question. Firms struggle to understand the cultural nuances of other countries. There is typically only one subculture in foreign markets. Most countries do not have a distinct consumer culture. Foreign consumers view products and their roles as consumers differently.

Firms struggle to understand the cultural nuances of other countries. Foreign consumers view products and their roles as consumers differently.

Developing a questionnaire is considered "part art and part science." Which of the following is a good practice for questionnaire creation? Multiple choice question. The questions should use hard-to-understand language. Layout of the questionnaire should test the respondent's ability follow instructions. Questions should be designed to address a specific set of research questions. Questions are better when they are open to multiple interpretations.

Questions should be designed to address a specific set of research questions.

What can marketers learn from the diffusion of innovation theory? (Choose every correct answer.) Multiple select question. The amount of time before a competitor releases a similar product The length of the product life cycle in a given industry The rate at which consumers are likely to adopt a new product or service Which markets are likely to be most receptive to new products or services

The rate at which consumers are likely to adopt a new product or service Which markets are likely to be most receptive to new products or services

Firms are willing to spend lots of money, such as on very expensive Super Bowl ads, to market a brand in order to ______. Multiple choice question. be competitive in commodity markets be able to develop the brand personality over time overwhelm consumers perception build brand awareness

build brand awareness

The number of products within a product line is a firm's product line ______. Multiple choice question. breadth mix depth assortment

depth

Global marketing strategies includes two elements: identification of the target markets and ______. Multiple choice question. eliminating competition evaluating all of the global economic environment financing the global expansion developing a competitive marketing mix

developing a competitive marketing mix

Firms using a(n) _______ targeting strategy direct their efforts to several market segments with distinct brands and product offerings for each segment.

differentiated

Usually, during the ______ stage of the product life cycle, the typical consumers are early adopters, and there are increases in the number of competitors.

growth

Prices are often different in the global marketplace than they are in the home country because a firm's products may not ______. Multiple choice question. be as cheap to make for the foreign country be as expensive to make for the foreign country have the same positioning as they do in the home country have the same targeting as they do in the home country

have the same positioning as they do in the home country

The use of the same brand name within the same product line is called a(n) ______. Multiple choice question. line extension brand extension augmented product brand association

line extension

In light of the high costs associated with finding new customers who feel that a brand can meet their relevant needs and are willing to exclude competitors, today's companies are using ______ segmentation and investing in initiatives to retain their most profitable customers. Multiple choice question. loyalty benefit occasion usage

loyalty

Recharge Question Mode Multiple Choice Question Licensing is a trade-off in that it can save a firm from the high costs of in-house R&D, but instead the firm is counting on a solution (product) that already exists but has not been ______. Multiple choice question. researched marketed investigated outsourced

marketed

During the ______ stage of the product life cycle, the market for the product usually becomes saturated. Multiple choice question. indeterminate introduction growth maturity

maturity

The ______ stage of the product life cycle is characterized by the adoption of the product by the late majority and good profitability. (Remember to type only one word in the blank

maturity or mature

Gross national income consists of GDP plus ______, without including any payments made to those who do not live in the country but who contribute to the domestic economy. Multiple choice question. trade deficits and surpluses net income earned from investments abroad goods and services produced in a year net deficit earned from investments abroad

net income earned from investments abroad

Recharge Question Mode Multiple Choice Question Unstructured questions are _____ questions. Multiple choice question. closed-response guided-answer open-ended scaled-response

open-ended

Marketing managers can choose between three possible global ______, which range from selling the same product to introducing an entirely new product. Multiple choice question. business units marketing mixes product strategies product assortments

product strategies

A ______ is something that a customer values and that can be bought or sold voluntarily.

product, good, or service

For most products, the label is used for ______. Multiple choice question. branding and packaging promotion and licensing packaging and manufacturing information promotion and branding

promotion and branding

While some segmentation methods rely on external descriptions and factors to break down the market, ______ segmentation relies on consumers' descriptions of themselves. Multiple choice question. geo-demographic psychographic demographic geographic benefit

psychographic

Once a firm has gained insights from doing qualitative research, it is likely to engage in ______ research, which are structured responses that can statistically be tested. Multiple choice question. descriptive secondary consumer quantitative

quantitative

The ______ department can be considered an investment into a company's future, in which scientists work to solve problems and develop new ideas. Multiple choice question. research and innovation research and development mergers and acquisitions diversification

research and development

After evaluating each market segment's attractiveness, the next step in the STP process is ______. Multiple choice question. selecting a target market negotiating with retailers beginning production contacting consumers

selecting a target market

Individuals in different segments should have ______ within the segment and ______ across the segments. Multiple choice question. similarities; differences targets; positioning similarities; familiarity differences; similarities

similarities; differences

When firms decide to develop new products, it is typically a long process that is broken into ______ stages. Multiple choice question. four six one two

six

When a firm sells products that meet the needs of many kinds of customers, it will most likely use a(n) ______ targeting strategy because there is little need to formulate different strategies for different groups. Multiple choice question. one-to-one undifferentiated differentiated concentrated

undifferentiated

A focus group interview is a(n) ______ method of inquiry where a trained moderator leads a conversation according to a predetermined outline of the topic of interest. Multiple choice question. individualized structured unstructured inexpensive

unstructured