BCOR 350 final exam review

Maslow's hierarchy of needs is based on which premise?

-all humans acquire a similar set of motives through genetic endowment and social interaction -some motives are more basic or critical than others -the more basic motives must be satisfied to a minimum level before other motives are activated as the basic motives become satisfied, more advanced motives come into play ALL OF THE ABOVE

Maslow's hierarchy of needs is based on what premise?

-all humans acquire a similar set of motives through genetic endowment and social interaction -some motives are more basic or critical than others -the more basic motives must be satisfies to a minimum level before other motives are activated -as the basic motives become satisfies, more advanced motives come into play

What is true regarding consumers who are highly involved in a specific product category?

-they are more likely to pay attention to relevant marketing messages -they are more likely to engage in analytical reasoning to process info -" " to seek out info from numerous sources prior to a decision -" " to act as opinion leaders ALL OF THE ABOVE

What accurately identifies a difference between a weakness and a threat in SWOT analysis?

A company is more able to change a weakness than a threat

______ is the underlying cultural value that determines most of the status dimensions in the US.

Achievement

Malcolm is studying subcultures in the US. He is trying to identify the subculture that has the highest education levels and median household income. What ethnic group meets these criteria?

Asian Americans

Which of the following are FALSE regarding subcultures in the US? a.) the degree to which an individual behaves is a manner unique to a subculture b.) religious groups are the most commonly described subcultures c.) we are all members of several subcultures d.) there are very large variations within each subculture

B. religious groups are the most commonly described subcultures

Proctor & Gamble introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When general foods became aware of the product, it rushed to nationally market its own betty crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. General Foods was able to enter the ____ stage of the new-product development before Proctor and Gamble could.

Commercialization

Marketers need to understand the ______ environment of a country from two perspectives: the overall level of development of a country and the current stage of its business cycle.

Economic

When setting prices, a company must consider factors in its pricing environment. ______ such as the business cycle, economic growth, and consumer confidence can have a significant impact on the firm's pricing strategies.

Economic trends

When Joe's Coffee Nook raised the price of a latte, joe notices a substantial change in his daily latte sales. A price reduction caused his sales to increase. From this information, you can assume the demand for lattes is ______.

Elastic

The marketing goal for a product in the growth stage of its product life cycle is to _______.

Encourage brand loyalty

What are the bases for subculture in the United States?

Ethnic group, religions, geographic areas, generations

Carl is doing his homework and has the TV on in the background. While is it on, several commercials aired. What stage of the info-processing model does this represent?

Exposure

___________ occurs when a stimulus is placed within a person's relevant environment and comes within range of their sensory receptor nerves.

Exposure

A counterculture falls within, but not against, mainstream culture. T/F

False

Hispanic Americans are the fastest growing minority group in the united states? T/F

False

Most consumers would prefer to pay 199.99 for a doctors service than 200? T/F

False

T/F There will always be a need for channel intermediaries that physically handle the product.

False

The Hollingshead Index of Social Position( ISP) is based on four socioeconomic factors: occupation, source of income, house type, and dwelling area. T/F

False

A new JCR article showed research that explained how round(even) prices are associated with ______ and non-round(odd) prices are associated with __________.

Feelings; cognition

The idea behind ____ is that different parts of our brain are better suited for focused versus non-focused attention.

Hemispheric lateralization

Which of the following is the largest ethnic subculture in the US?

Hispanic

When companies calculate the lifetime value of a customer they look at _______.

How much profit they expect to make from a particular customer, including each and every purchase she will make from them now and in the future.

Walker was gathering info on plasma and LCD TV's b/c he wanted to purchase one. He bought several electronic product magazines, visited stores, searched the internet, and paid attention to the ads in the newspaper. However, he was confronted with so much info that he not attend to all of it. In fact, he got to the point that he would not attend to it and it became frustrated. This is an example of _______.

Information Overload

_______ is a series of activities by which stimulus are perceived, transformed into information, and stored.

Information processing

An ad for the Mongoose mountain bikes shoes a serious biker traversing remote and rugged but beautiful terrain and states, "There are places that are so awesome and so killer that you'd like to tell the whole world about them. But please, don't". This ad used the _______ appeal.

Lifestyle

EZ pay is a payday loan company that offers its consumers the ability to automatically renew their check-cashing terms. However, most of their consumers are unaware that renewal incurs double the normal interest rate. Which social class is most vulnerable to these unethical marketing tactics?

Lower

What is the most accurate generalization of Milennials?

Members of this generation are more difficult to reach through television advertising than members of the older generation are.

Alex is hungry, and this inner force is making him search for the typer of food he wants to eat. He decides that an Arby's roast beef sandwich will satisfy his hunger. This inner force that is compelling him to search for food is known as a _______.

Motive

Beautiful actresses appear in ads testifying to the quality of a brand of hair coloring products. This is an application of which learning theory?

Observational learning

Orkin Pest Control Service knows homeowners skimp on maintenance such as pest control during recessions. It also knows that the more consumers know about bugs, the more likely they are to buy the company's services. So orkin teamed with the Smithsonian Institution on the Insect Safari, a traveling exhibit designed to teach people about the critters. The safari truck visited 108 cities during one year, leaving a wake of creeped-out insectophobes reaching for the phone numbers of local Orkin franchise. Business increased in each city the safari truck visited. Decisions on which cities to visit and what kinds of promotion to use in each city visited are both examples or ______ plans.

Operational

When sales are made in a local Walmart, the sales data is sent to Walmart Headquarters where the data are used to build a picture of the buying habits of people who shop at individual Walmarts across the nation. THe use of ________ makes this possible.

POS System

The consumer Confidence Index uses monthly data from 500 interviewers to measure consumers' perceptions of _________, short-term, and long-term U.S. economic prospects.

Personal Finance

__________ indicates motivation or interest in a specific product category, and it can be temporary or enduring.

Product Involvement

Political candidates often hire image consultants who tell them what clothes to wear, how to wear their hair, and how to act in front of a crowd of people. Political candidates who use image consultants to help them market themselves to the voters are using what strategy?

Product improvement

__________ involves incorporating brands into movies, TV shows, and other entertainment venues in exchange for payment or promotional or other considerations, with the goal being to add realism to the scene, give subtle exposure to the brand, and influence consumers in an unobtrusive manner.

Product placement

Jell-O ads contain the phrase "Make some magic". All Ace Hardware store ads contain the statement "Life is an ongoing project". The American Dairy Famers run ads that say, "Ahh, the power of cheese". These are all example of:

Slogans

A hierarchical division of a society into relatively distinct and homogeneous groups with respect to attitudes, values, and lifestyles is known as a _________.

Social Class System

A message presented so fast or so softly or so masked by other messages that one is not aware of seeing of hearing it is called a _____ stimulus.

Subliminal

What matters the most to early adopters?

Technology and innovation

The degree to which an individual behaves in a manner unique to a subculture depends on _________.

The extent to which the individual identifies with the subculture

What is true about convenience stores?

They create time utility for their customers

According to Maslow, all humans acquire a similar set of motives through genetic endowment and social interaction. T/F

True

T/F it is usually easier to convince customers to adopt a continuous innovation than a discontinuous innovation.

Ture

Barry decided he needs a new car, so he started looking at commercials on TV and ads in magazines as well as visiting several websites. What type of exposure does this represent?

Voluntary

What is an advantage offered by cobranding?

a company can expand its existing brand into a category it otherwise might have difficulty entering alone

What is true about the "four ps" of the marketing mix?

a decision about one of the P's affects every other marketing-mix decision

WHat is an intangible product offering?

a limousine ride

What advertising situation would least likely be, considered puffery?

a retired couple drinking a vitamin and protein shake and then going biking

In which kind of market would a production orientation be most successful?

a seller's market in which demand is greater than supply

What is true due to inseparability of services?

a service is produced and consumer at the same time

on of the advantages of test marketing is the ______.

ability to evaluate a product and its marketing program before commercialization

If a price of an elastic product is outside the latitude of ______ on the low end of the scale, consumers' will make (-) ______ inferences.

acceptance; quality

A manufacturer of a product in the decline stage of its product life cycle would be least likely to do what?

advertise heavily without changing the product or its target market

With which type of marketing communication does the marketer have the greatest level of control over the message?

advertising

A ________ strategy is implemented when a store places two similar items next to each other, highlighting the fact that the price of one item is slightly lower than that of the other item.

assimilation effect

According to the Census, the largest retail categories (in annual sales) include:

at-home food and beverage & general merchandise

If you get an 'A' on your exam, you are likely to attribute the grade internally. Alternatively, if you fail your exam, you are more likely to attribute the outcome externally. Which theory predicts this relationship?

attribution theory

The 80/20 rule is most directly related to _______ segmentation.

behavioral

The number 1 key growth category of interest marketers are those:

born 1946-64

A manufacture of a variety of tech devices asked its marketing department to develop inexpensive methods of building and maintaing brand awareness and excitement. The marketing department then recruited consumers who were early adopters of technological devices to spread the word about the company's new products. This is an example of using ________.

brand evangelists

The triangular red Nabisco logo is an example of a:

brand mark

A set of human characteristics that become associated with a brand is referred to as ___________.

brand personality

As a manufacturer increases price, the ______ drops.

break-even point

During which stage of new-product development will management most likely consider whether the new product will cannibalize sales of the company's existing products?

business analysis

Viral Marketing is most closely related to what?

buzz building

Mach 3 razor blades must be used in the mach 3 razor. Which type of pricing is most likely used for the razor blades?

captive

An SBU fits into the _____ category of the BCG model when sales have been steady and the firm has a large market share it can sustain with minimal funding.

cash cow

You own an independent store in your neighborhood and like to offer fresh seafood in your meat display case. which type of wholesaler is likely to best serve you?

cash-and-carry wholesaler

Advertising, sales promotion, public relations, and buzz building activities are all ______.

channels that should be united under the concepts of integrated marketing communications

The introduction of the new C-Class sedan(MSRP $39k compared with $95K for the S-Class sedan) by Mercedes-Benz shows how the company provides a "new luxury" goods for less affluent consumers. This real world example illustrates:

class-to-mass

An implicit association test (IAT) is useful for showing hidden ______ biases.

cognitive

Which term describes consumers' purchase and use of automobiles, homes, yachts, clothes, and so forth primarily to demonstrate their great wealth?

conspicuous consumption

The phenomenon of ______ includes consumers creating their own ads and buying and selling products on eBay.

consumer-generated value

As a supply chain manager, you ensure that the right product, in the right quantity, in the right condition is delivered to the right ______, at the right place, and the right time and at the right _________.

customer; cost

Which of the following is NOT used to classify McGuire's psychological motives? a. is the mode of motivation cognitive or affective? b. is the motive focused on preservation of the status quo or on growth? c. is this behavior actively initiated or in response to the environment? d. is the outcome of the behavior temporary or permanent?

d. is the outcome of the behavior temporary or permanent

Alex Pool Chemical Co. purchased 199 buckets of chlorine tablets over the internet from CHemical Inc. , then places the order with the manufacturer and arranged for its transportation by truck to the Alex Pool store. Chemical Inc. took title to the pool chemicals but never actually took possession of them. Chemical Inc. is an example of a _________.

drop shipper

The built-in, fold down child seats, designed to replace traditional car seat and booster seats (such as those found in Chrysler minivans), are an example of a _______.

dynamically continuous innovation

what is true about adopter categories?

early majority adopters are typically middle class and like to buy established products.

The point of distribution channels is to maximize ______.

efficiency

College students who live in the Y.O.L.O lifestyle are most likely influenced by the ______ motive.

ego-defense

convenience products include staple products, impulse products, and _______.

emergency products

Consumers' decisions that are not perceived of as highly risky are more likely to be guided by ______.

emotions

What are the characteristics associated with emotions?

emotions are often triggered by environmental events

Experts predicting that destination retail will be a future trend believe that consumers will soon visit retailers more for ______ than for the basic process of purchasing products.

entertainment

Chevy runs a promotion where consumers can redeem two free ski lift tickets at their local dealer through a test-drive promotion. According to the communication model, the people coming into the dealership to test-drive are the ________.

feedback

Market Planning is a type of ________.

functional planning

The concept______ has encouraged one make-up brand, Shiseido, to market its make-up products to _______.

gender fluidity; males and females

Your company has decided to tailor its products and services to meet local market demands. A good approach to use would be _______ segmentation.

geographic

a _____ exists when an unauthorized party imports products and then sells them for a fraction of the price of authorized products.

gray market

What is most closely associated with upscaling in retailing?

greater operating costs

Brand Loyalty in the product choice step of the consumer decision-making process is an example of a _______.

heuristic

The relatively faster growth rate of non-European groups in the UNited States is due to their ________.

higher birthrates and greater immigration

Customer satisfaction with a purchase is based on what?

how the actual performance of the product compares to the customer expectation of performance

What is something not apart of target marketing strategy

identifying a market that is likely to buy a porduct

why are prestige products often an exception to the law of demand?

increasing the price of the prestige products can make them seem more desirable

Many people rely on the prescription drug to control their cholesterol. AN increase in the price of the drug would have little effect on the quantity demanded because there are no substitutes for the drug and because people who take it have no choice but to continue taking it if they wish to stay healthy. The demand for the cholesterol drug is _______.

inelastic

The more ________ the product, the more heavily firms tend to rely on personal selling to promote it.

intangible

Perception is a process that begins with consumer exposure and attention to marketing stimuli and ends with consumer___________.

interpretation

Which of the following is a logistics activity that involves developing and implementing a process to ensure the firm always has sufficient goods available to meet customers' demands, no more and no less?

inventory control

What is considered an individual factor affecting attention?

involvement

What is a limitation of the BCG Matrix?

it doesn't tell managers the best ways to make growth happen

What is not a benefit provided by e-commerce?

it provides consumers the satisfaction of instant gratification

When considering the four P's in international marketing, advocates of ______ focus on the unique characteristics of cultures and argue for products and promotional messages tailored to each culture.

lacalization

James begged his mother to buy him some high-top converse shoes. When asked why, he said he wanted them because his 2 best friends have them, and if he had them, he would be considered "cool". Wanting to appear "cool" to his friends represents which type of motive?

latent

Which regions are the major sources of America's immigrants?

latin america and asia

Which of the following is NOT an advertising tactic used to communicate brand personality? a. ) celebrity endorsements b.) user imagery c.) length of the ad d.) tone of the ad e.) type of media outlet

length of the ad

What is a service industry in the United Staes that is likely to see growth due primarily to demographic changes?

living assistance for seniors

The real world example discussed in class, LevelUp, uses ____ as part of their selling strategy.

location-based marketing

Motives that are known and freely admitted are called ______.

manifest motives

Motives that are known and freely admitted are called ____________.

manifest motives

Why do marketers not consider social class segments as strictly as they once did?

many consumers buy according to the social class image they wish to portray rather than according to where they actually fall in the social class framework

The sales peak typically occurs during which stage of the product life cycle?

maturity

In a competition between _______ and _________ brands, retailers have the advantages of controlling what products will be stocked, where prodcuts will be stocked, what prices will be charged, and which products will be featured in local print promotions.

national; private-label

In the Hollingshead Index of Social Position, what is true?

occupation is given a higher weight than education

Producers benefit from using intermediaries because they________.

offer greater efficiency in making goods available to target markets

The theft and unauthorized repurposing of intellectual material via the internet is called ________.

online distribution piracy

McDonald's placement of a small toy in each Happy Meal as a reward for coming to the fast-food restaurant and ordering its food is based on which theory of learning?

operant conditioning

___________ is the third, or "nuts-and-bolts" level of planning

operational planning

Cognitive learning theories assume that ________.

people are problem solvers who do more than passively react to associations between stimuli

The growth-market share matrix developed by the Boston Consulting Group (BCG) is a type of _________.

portfolio analysis

The invitation to go skiing for the weekend forced Donna to look at her current wardrobe. She decided she needed a much warmer coat. Donna was in which stage of the purchase decision?

problem recognition

Sony found that Japanese commuters have difficulty using standard laptops on crowded rush-hour trains since standing computers have no laps. So it created the U as a "standing computer". The U included a touch screen and small keyboard that can be used while standing or on the move. This is an example of _________.

product invention

"Get the best deals!' is an example of a _______ ad.

promotion-focused

To reduce problems associated with the intangibility of the services offered by a restaurant, the restaurant owner would be most likely to do what?

provide clean table cloths and cloth napkins or each new customer

A newspaper article reported on a lawsuit in which independent coffee shops accused of national chain of coffee shops of engaging in an illegal conspiracy to drive them out of business. WHat promotion element would the national chain of coffee shops most likely use to improve its corporate image, which has been tarnished by these accusations?

public relations

What is the final stop in the distribution channel in which organizations sells goods and services to consumers for their personal use?

retailing

What are the steps, in order, of the target marketing process?

segmentation, targeting, and positioning

Pro Sports provide an excellent example of which type of distribution?

selective

For which of the following operations would telemarketing efforts likely be the most successful and the most profitable?

selling plastic bottles to a bottling company

What factor affecting attention includes stimuli in the environment other than the focal stimulus (i.e. the ad or package) and temporary characteristics of the individual that are induced by the environment, such as time pressures or a crowded store?

situational factors

Blogs, wikis, and virtual worlds are all examples of ______.

social media

Bourdieu suggests that social class should actually be a measure of:

social, economic, and cultural capital

Carmen is a marketer for a global consumer products company. She is working on promotional campaign designed for a foreign market and it ensuring the promotional campaign is clearly understood by the nation's consumers and does not inadvertently offend anyone. Carmen is being influenced by the country's _____ environment.

social-cultural

One's position relative to others on one or more dimensions valued by society is known as one's _______.

societal rank

What is not required by the U.S. Food and Drug Administration (FDA) on the labels of most foods sold in the US?

sources of all ingredients in the product

Attention is determined by which factors?

stimulus, the individual and the situation

The text lists 'Idea Generation' as the first stage of product development. However, a growing number of marketers believe the first stage is actually what?

strategy

A segment of a larger culture whose members share distinguishing values and patterns of behavior is known as a _________.

subculture

In general, companies that focus on a triple bottom line are most likely to place a priority on what?

sustainability

The widespread use of RFID chips to relay information about products during distribution represents a change in the ______.

technological environment

What is something not true about brand equity?

the highest level of brand equity involves establishing product benefits

Viral Marketing primarily uses which of the following communication channels?

the internet

The primary difference between co-branding an co-marketing is:

the number of products

What is part of the product element of the marketing mix?

the packaging

What best explains why marketers are attracted to the BRIC countries?

these countries have masses of consumers who are not yet wealthy but are quickly moving to economic prosperity

It is most accurate to say that channels of distribution provide which of the following?

time, place, and ownership utility

What is the most logical explanation that retailers carry private-lable brands?

to earn more profit

What are the four main roles performed by marketing communication

to inform to persuade to remind to build relationships

What is the most logical reason that many orgs rely heavily on personal selling?

to more effectively sell highly technological or very expensive products

IBM manager Celia Moore coordinates IBM's long-standing "Reinventing Education" program that involves intensive research into how educations institutions can use the fruits of new technologies to transform what they do. In the process, the program is actually helping to shape a market of significant interest to IBM. "We see the program very much as an investment, rather than handing out money" says Moore. The existence of this program indicates that IDM has a ______ orientation.

triple-bottom line

What modes of transportation would most likely be used to quickly haul lettuce from California, where it was grown, to markets in Nevada?

trucks

Advertising through sampling (trying a product) that is designed to create buzz is called _______.

tryvertising

WHich type of segmentation can center on the use of the word when, such as when consumers get the idea to buy, when they actually make their purchases, or when they use the purchased item?

usage occasions

The pharmaceuticals division of Omni Healthcare holds low market share in high-growth market. In order to increase market share, managers would be most likely to decide what?

use money from a cash cow to promote the pharmaceuticals division

DO-it-Yourself advertising is a type of _________.

user-generated content

U-Frame-It is a small company that has hired a local ad agency to put together an advertising campaign. What question should be addressed before the others?

what are the message objectives of u-frame-it

Laws on price-fixing requires that sellers set their prices ________.

without communication with the competitors

The largest group in the US social class hierarchy are the middle class and the ______ class.

working