MARK Chapter 4-5 Quiz

_________ consumers are one of the fastest-growing US population subsegments and are expected to surge to nearly 1/3 of the total US population by 2060.

Hispanic American

IMG is a company that mainly works with ____________.

sports entertainment media

Which position does Michael Hand (the person who was interviewed) hold at IMG?

Vice President, Strategic Marketing

________ is the most basic determinant of a person's wants and behavior.

Culture

A professional football team is most likely ________ for an aspiring college football player?

Membership group

Firms use competitive marketing intelligence to ____.

gain early warnings of competitor moves and stratgies

According to James Russo, Nielsen started at the same time as ________.

market research

_______ are people within a reference group who, because of special skills, knowledge, and personality, or other characteristics, exert influence on others.

opinion leaders

Family is one of the _________ factors that influence consumer behavior.

social

Netflix notices that currently the number of subscribers is stagnating for the first time in company history. The company hires a market research firm to identify potential reasons for this. This research can be best described as _________.

Exploratory

The most fundamental factor that determines an individual's behavior is ________.

culture

Nielsen primarily gathers data from __________ to help companies with strategic marketing decisions.

customers

What type of research is most likely necessary to gain insights into the demographic factors like age, gender, and income of a company's customer base?

descriptive

What is an advantage of using an internal database?

internal databases can be accessed more quickly and cheaply than other information sources

Which of the following is NOT a method of gathering good marketing intelligence? - sending out teams of trained observers to mingle with customers - purchasing merchandise from competing sites to analyze and compare their assortment, speed, and service quality - interviewing competitors' employees to learn as much "inside information" as possible - searching specific competitor names, events, or trends to see what comes up

interviewing competitors' employees to learn as much "inside information" as possible

_______ is a person's pattern of living as expressed in his/her psychographics, and it includes the individual's activities, interests, and opinions.

lifestyle

Which of the following statements is true of social classes? - people within a social class tend to exhibit similar buying behavior - social classes universally exhibit identical product and brand preferences - income is the single factor that determines social class - social classes are society's temporary divisions - members of a social class have unique and distinct values, interests, and behaviors

people within a social class tend to exhibit similar buying behavior

If a company hires Nielsen to gather information of a very specific problem that a company encounters, Nielsen likely collects _____ data from consumers.

primary

A shoe manufacturing company uses ads featuring the members of a country music band with the hope that the band's fans will see them wearing the company's shoes and hence purchase the same brand of shoes. The shoe company believes that the band portrays the image of a ___________ to the band's fans.

reference group

Each culture contains smaller ________, or groups of people with shared value systems based on common life experiences and situations.

subcultures

Kei, a senior marketing manager of a pizzeria in North Florida, is currently researching electronic collections of consumer information within the company network to arrive at crucial marketing decisions. In this instance, Kei is using _______.

Internal databases

The market researchers at HoneyCamp Foods gather daily sales data and sort it by product line and region. With the help of sophisticated tools and techniques, they develop the data needed by marketing managers to evaluate the market share of the company's different products and also to gain valuable market insights. This mix of people and procedures at HoneyCamp Foods that generate actionable marketing insights respresents a(n) ___________.

Marketing Information System

If a company hires Nielsen to get insights into their customer base, which term best describes Nielsen from the perspective of the company? Nielsen is a _______.

Marketing Service Agency

On Amazon, customers can write product reviews that are openly available for everyone. Companies could look at the reviews for feedback on their product to gather ideas on how they can create a product that satisfied the customer needs. In this case, the company is looking at ________.

Secondary Data