MKTG3832 Test 2 Concepts

For many years, General Motors manufactured two versions of the same basic vehicle: the Humvee, used by the U.S. military, and the Hummer, available to the public. Because of this product, GM was part of both the ___ and ___ B2B markets.

commercial; government

A company has introduced a new product in the market. The company distributes free samples of this product to people so that they can try it. This product is at the _____ stage of brand loyalty.

brand recognition

Consumers sometimes experience feelings of uncertainty after a major purchase. This postpurchase anxiety results from an imbalance among the person's knowledge, beliefs, or attitudes. For example, you may have had these feelings when you first went away to college. Was this the best school for me? Is this where I belong? This postpurchase anxiety is known as:

cognitive dissonance

Cultural differences are particularly important for

firms marketing internationally

The goal of the European Union, a multinational economic community, is to:

remove all barriers to free trade among its members, and standardization of currencies and regulations.

The determination of whether pencils are consumer products or business products is based on:

the purpose for which the pencils are purchased.

Psychographic segmentation divides a population into groups based on:

their attitudes, values, and lifestyles.

Kendra is the office manager for a large legal firm and performs a variety of functions for the office. She manages purchases of copying machines and printers and is responsible for placing orders for supplies such as toner cartridges and paper. In general, Kendra is solely responsible for making decisions about the brand of paper and toner used in printers and copying machines. What is her role as part of the buying center?

Buyer

The North American Free Trade Agreement (NAFTA) is a trade accord that removes trade barriers among:

Canada, Mexico, and the United States.

A person's values, beliefs, preferences, and tastes are often handed down from one generation to the next. These factors may change over time, but an individual's basic core values do not. These factors are important environmental determinants of consumer behavior. These items are commonly referred to as:

Culture

Market segmentation plays a very important role in developing a marketing strategy. Select the best definition of market segmentation from the choices below.

Dividing the total available market into smaller, similar groups

A major state university has noticed a decline in students selecting philosophy as a major and is interested in learning more about this issue. They hire a marketing research student as an intern who conducts informal interviews with faculty in the philosophy department as well as freshman students living in residence halls to gain insight into this phenomenon. What type of research is the intern engaging in?

Exploratory

_____ is a contractual agreement that grants marketers in other countries the right to distribute a firm's merchandise or to use its trademark, patent, or process in a specified geographic area.

Foreign licensing

​ Paul is the quality-control specialist for a furniture manufacturer. His job is to develop specifications for every potential purchase of wood and fabric. Within the buying center, Paul plays the role of a(n):

Influencer

Honda, a Japanese firm, builds a factory in Alabama to make minivans to be marketed in the United States. Which of the following strategies of entering into a foreign market is best represented by this example?

International direct investment

Lakshmi and Sukumar are shopping at their nearest Best Buy to purchase a new TV. They had previously planned to replace their 5 year old TV with a new model of the same brand but were surprised by the array of brands and selection the store offers, each having a special feature. They decide to take their time and look at every type of TV available at this Best Buy location.. Lakshmi and Sukumar are exhibiting _____ decision making style.

Limited

Behavioral segmentation focuses on the demonstrated behavior of consumers. Looking at what consumers actually do, rather than their characteristics, brings us much closer to the actual purchase. Which of the following is NOT one of the approaches to behavioral segmentation?

Media habits

Elizabeth had her car all packed and was ready to head home for semester break. However, when she tried to start her car the battery was dead. She remembered that the last few times she tried to start her car it seemed like the battery was weak. Now, it was clear she would have to get a new battery. Elizabeth is in what stage of the consumer decision process?

Problem or opportunity recognition

Helene made sure that her company car was equipped with OnStar in case she ever has car trouble or gets lost while traveling between appointments. OnStar is a service which can connect the car occupants with a personal service attendant to provide assistance. Which level of Maslow's hierarchy of needs is Helene addressing?

Safety needs

Which of the following is a low involvement product?

Stationery

_____ are the taxes levied on imported goods.

Tariffs

Which of the following is true of a buying center in an organization?

The buying center includes everyone involved in any aspect of the buying process.

Which of the following is the largest segment of the business market?

The commercial market, which includes anyone who acquires products to support production of other goods and services

Which of the following is a basic requirement for effective market segmentation?

The market segment must present measurable purchasing power and size.

A basic distinction in types of markets is between markets that purchase the item for their own personal use and those that purchase the item for use either directly or indirectly in the production or distribution of other goods or services for resale. For example, when Logan stopped at the gas station to fill up his car before heading home for the weekend, the gas was for his personal use. However, when Brandon filled up his car with gas before a night of working as an Uber driver the gas was actually used to provide a service for sale. In this case, gas was:

a consumer product for Logan and a business product for Brandon.

The fluctuation in exchange rates results in:

a nation's currency becoming more or less valuable compared with those of other nations.

Proctor & Gamble sells Head and Shoulders shampoo and conditioner in Brazil. The company uses similar advertising and scents in Brazil as they do in the United States. This would be an example of:

a straight extension strategy.

The first stage in the seven-stage model of an organizational buying process involves:

anticipating a problem, need, or opportunity and a general solution.

An individual's reference group is most likely to influence his or her purchase decision while buying a(n) _____.

automobile

One way to avoid language issues in international research is to use:

back translation

The added value that a certain brand name gives to a product in the marketplace is called _____.

brand equity

The strategy of attaching a popular brand name to a new product in an unrelated product category is known as _____.

brand extension

A _____ is a symbol or a pictorial design that distinguishes a product from its competitors' offerings.

brand mark

Sound systems, batteries, and tires that are included in the manufacturing of a car are examples of:

component parts and materials

Ivonne is excited about going to her first sorority formal next month. However, she is concerned that she does not have anything appropriate to wear. Since realizing that she needs to get a new dress, Ivonne has started paying attention to advertisements, visiting retail stores, and browsing the Web for a dress for the formal. Ivonne is engaged in:

consumer behavior

Consumer goods such as soap, milk, and deodorants are generally classified as _____ products.

convenience

Keith is searching through computerized information files of customers to detect patterns in product sales. Keith is engaged in the process of:

data mining

The identity of the _____ is the most difficult role for salespeople to pinpoint.

decider

1. Clairol offers a line of hair color called "Nice n Easy," which allows women to touch-up their hair and easily cover their gray hairs conveniently and easily at home. Based on research, Clairol knows that women aged 30 and above are most likely to need some type of color product to hide their gray hair and maintain a youthful appearance. What type of segmentation does Clairol use by targeting women over 30?

demographic

Abel Building Solutions, a steel manufacturing company that supplies steel to various construction companies, segments its customers based on the number of employees in the company and the sales revenue generated by it. This strategy is used by Abel to develop specific marketing plans for their customers. Abel is segmenting its customers on the basis of:

demographic characteristics

Marketers applying a positioning strategy want to:

emphasize a product's unique advantages and differentiate it from competitors' options.

A manufacturer who produces glass for microwave oven doors, shower enclosures, and patio tabletops is likely to segment his business customers on the basis of:

end-use application.

In interpretive research, the researcher first spends an extensive amount of time studying the culture, and for that reason, the studies often are called _____ studies.

ethnographic

Tabitha is interested in purchasing new head phones and has set a budget of up to $350. She's narrowed her choice to Bose, Beats by Dr. Dre and Exeo Psyko. These three brands are known as her _____ set:

evoked

A company looking to expand internationally with little risk would choose:

exporting

A successful German fitness center would like to expand to other areas of Europe such as France and Spain. The company has strong brand recognition in Germany and would like this to translate to new markets. The fitness center's best option for a market entry strategy is:

franchising.

At the Union, New Jersey, headquarters of Bed, Bath, and Beyond (BB&B), Tiana receives product information from manufacturers about sheets, towels, and other similar products. After reviewing the literature to determine which products meet BB&B's general requirements, she forwards only the pertinent information on to her boss. Tiana is a ______ at BB&B.

gatekeeper

A(n) _____ sets the stage for more in-depth research in a marketing research process by further clarifying what researchers need to test. It is a tentative explanation for a specific event.

hypothesis

An undifferentiated marketing strategy:

is efficient from a production point of view.

Secondary data is advantageous because

it is often free or less expensive than primary data sources

Secondary data is advantageous because:

it is often free or less expensive than primary data sources

Dayer's, a popular ice-cream brand, added new flavors to its existing line of ice creams to attract kids. This is an example of _____.

line extension

The division of the total market into smaller, homogenous groups is called _____.

market segmentation

Which of the following terms refers to the process of collecting and using information for marketing decision making?

marketing research

A _____ brand refers to a brand name owned by a manufacturer or a producer.

national

The information collected for the first time specifically for a marketing research study is called _____ data.

primary

British Petroleum (BP) distributes petrol (or gasoline) to many countries around the world. BP changes the petrol formula in order to meet each country's regulations. This is an example of:

product adaptation

Shopping products are:

products that consumers purchase after comparing competing offers

A _____ is a master plan created by a marketer for conducting market research.

research design

Beaux, a clothing boutique store, specializes in high-end evening wear for women. Most of the dresses are custom-made for their elite customers. Beaux is an example of a store offering _____ products.

specialty