MAR2011 Test 2 Chapters 5-8

What type of business segmentation allows B2B markets to segment based on purchasing patterns, supplier requirements, and technological orientation?

behavioral

Marketers divide magazines into which two types of categories?

business and consumer

Segmentation based on where perspective consumers live, work, and spend their leisure time is referred to as

Geographic segmentation

As a promotion mix element, public relations refers to

communication focused on promoting positive relations between a firm and its stakeholders

As it pertains to product characteristics, the superior position a product enjoys over competing products if consumers believe is has more value than other products in its category is referred to as

competitive advantage

Gathering data about what competitors are doing in the marketplace is

competitive intelligence

When highlighting a product's competitive advantage based on attributes, a firm will

concentrate on the unique aspects of the product that sets it apart from the competition

One concern about using social media, like Twitter, to compile marketing research data is

consumer privacy

What is the most common type of sales promotion?

coupons

The stages in the product life cycle are new-product development, introduction, growth, maturity, and

decline

Kaden is a realtor selling high-end homes priced over $750,000. Before showing a property to prospective clients, Kaden makes sure they are prequalified for a home loan commensurate with the price of the house. This pre-qualification is based mainly on the clients income, which is what type of segmentation variable?

demographic

Business-to-business firms generally segment their markets according to what three variables?

demographic, geographic, and behavioral.

Heat maps and beast warms are associated with which neuromarketing technique?

eye tracking

A measure of how often the audience is exposed to a promotional message during a specific time period is referred to as

frequency

Market segmentation refers to

having regional sales forces that can market a product according to geographic area.

Outdoor advertising is characterized by its

high level of visibility

What is the name of the promotional strategy that involves coordinating the various promotion mix elements to provide consumers with a clear and consistent message about a firm's product?

integrated marketing communications

The largest source of information that flows through an organization comes from

internal company data

Which category of product adopters relies on others for information and buys a product because their friends have already done so?

late majority

Outdoor advertising is characterized by

limited placement options

Sales promotions that allow consumers to accumulate points or other benefits for doing business with the same company are known as

loyalty programs

The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is referred to as

market segmentation

The organizational activity that links the consumer, customer, and public to the marketer through information is known as

marketing research

When it comes to criteria for segmenting markets, it is important that the size and purchasing power of a market segment should be clearly identified. In other words, it should be

measurable

Inventions that have never been seen before and create a new market are considered

new-to-the-market products

Firms typically determine their promotional budget using one of three methods: the affordable method, the percentage-of-sales-method, and the

objective-and-task method

The two-day flow of communication between a salesperson and a customer that is paid for by the firm and seeks to influence the customer's purchase decision is referred to as

personal selling

The practice in which companies frequently come out with new models of a product that market existing model obsolete is an ethical issue related to new-product development and is termed

planned obsolescence

Company sales records, customer support records, and the salesforce reports are all forms of

predictive models

Campbell's offers consumers many choices of canned soups. This group of related products marketed by Campbell's is its

product line

A marketer who is able to get its product to be used by an actor in a movie is benefiting from

product placement

All the activities that communicate the value of a product and persuade consumers to buy it is referred to as

promotion

A product that has new packaging, different features and updated designs and functions is a

revamped product

__________ is based on research that estimates how much of a product will sell over a given period of time.

sales forecasting

Which tool looks at changes in sales during and after promotional programs to see how the marketing efforts affected company sales?

sales tracking

Which tool is used in public relations?

sponsorships

Colin has opened up a new sports bar/restaurant in town. He has determined that his market segments are (1) students from the nearby college campus, (2) families with small children, and (3) young adult males. Colin now has determined which of of these segments will provide him with the best opportunity to maximize sales. The process of doing this is referred to as

targeting

High cost is the biggest disadvantage to which form of advertising?

television

A company that is introducing a new product in its final form of geographically limited market to see how well the product sells and to get reactions from potential users is engaged in

test marketing

As defined in your text, a product refers to

the specific combination of goods, services, or ideas that a firm offers to its target market

The three primary objectives of an advertising campaign are

to inform, to persuade, and to remind

In a management information system, the data that flow through and organization come from internal company data, competitive intelligence, and market research

true

Primary data are collected specifically for the research problem at hand.

true

Research objectives are set during the problem definition step of the marketing research process

true

Target marketing occurs when a new product is introduced in its final form to a geographically limited market to see how well the product sells and to get reactions from potential users

true

What are the three basic strategies for targeting markets?

undifferentiated targeting, differentiated targeting, and niche marketing

Firms typically segment international markets using three general bases: global, regional, and

unique

As a marketing activity, positioning assumes that consumers

will compare goods and services on the basis of benefits.