Marketing 2 Exam Questions
________ refers to the hundreds of millions of global consumers who now enjoy a level of purchasing power that's sufficient to let them afford high-quality products offered by well-known multinational companies.
Mass Class
What stage of the product life cycle is likely to utilize reminder advertising for marketing communications as profit margins narrow?
Maturity stage
Which of the following is NOT TRUE about ZMOT? a. ZMOT represents buyers' remorse about a purchase b. ZMOT represents a moment when a consumer decides to buy c. ZMOT is just as likely to occur at home as in a store d. ZMOT occurs on mobile phones and laptops e. ZMOT stands for Zero Moment of Truth
ZMOT represents buyers remorse about a purchase
What is most likely to occur in the consumer market but not in the organizational market?
Purchases are based on emotional responses to products or promotions
What is an actual or imaginary individual or group that has a significant effect on an individual's evaluations, aspirations, or behavior?
Reference Group
What describes the degree to which a consumer perceives a new product as providing superior benefits?
Relative Advantage
________ is a marketing technique that links distinct experiences such as a unique fragrance with a product or service.
Sensory Marketing
Tablet computers are an example of a(n) ________ because the consumer spends considerable time and effort gathering information and comparing alternatives before making a purchase
Shopping product
If a firm needs specialized product or frequent deliveries of products, what type of supplier relationship should be pursued?
Single Sourcing
Those who exhibit similarities in occupations, education, and income level, and have similar tastes in style and activities are members of a(n) _____.
Social Class
What refers to paid ads that appear at the top of the Internet search engine results?
Sponsored search ads
What product categories classifies milk, bread, and gasoline as basic or necessary items that are available almost everywhere and most consumers don't perceive big differences among brands?
Staple product
________ occur(s) when a company tries to move its products through the channel by convincing channel members to offer them and entice customers to buy them.
A push strategy
Gamification can be described as ___.
A strategy in which marketers apply game design techniques to non-game experiences in order to engage customers.
What refers to features, functions, benefits, and uses of a product?
Attributes
What product layers might include a warranty, credit, delivery, installation, and repair service after the sale because marketers know that adding these supporting features to a product is an effective way for a company to stand out from the crowd?
Augmented product
A company is likely going to use a media blitz in which step of the adoption pyramid?
Awareness
What best offers marketers the possibility that consumers will pay attention to their messages?
Base the ad on a consumer's current needs
Which of the following is the theory that learning occurs based on past experiences and connections formed?
Behavior Learning
1. What is an example of owned media?
Blogs
Which of the following refers to an allocation of the promotion budget based on identifying promotion goals and allocating enough money to accomplish them?
Bottom-up budgeting techniques
What refers to a name, a term, a symbol, or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition?
Brand
________ provides a competitive advantage because it gives the brand the power to capture and hold onto a larger share of the market and to sell at prices with higher profit margins.
Brand equity
Organizational markets is another name for _____.
Business-to-business markets
In the buying center, which role has responsibility to execute the purchase?
Buyer
What refers to the process individuals experience when working to satisfy their own needs and desires?
Consumer Behavior
What branding strategies benefits partnering companies by combining the two brands to provide more recognition power than either enjoys alone?
Co-branding
Marketers estimate technical success when they decide whether a new product is technologically feasible and a(n) _____ success when they decide whether anyone is likely to buy the product.
Commercial
What refers to the process individuals or groups go through to select, purchase, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires?
Consumer behavior
Many consumers are becoming very aware of the social and environmental consequences of their purchases and making their decisions accordingly. ________ refers to the social movement directed toward protecting consumers from harmful business practices.
Consumerism
1. Which of the following refers to a modification to an existing product, to set one brand apart from its competitors?
Continuous Innovation
When the demand for goods in a business is based on consumer demand for what is produced, the organization is operating based on _____.
Derived Demand
Utilizing the models of marketing communication, which of the following tactics is used in the one-to-one model?
Direct marketing
What refers to a product innovation that requires a major change in the way consumers live and creates a new market and value chain?
Disruptive innovation
What kind of adopters are concerned about social acceptance, so they tend to gravitate toward products they believe will make others think they are cutting-edge or fashionable?
Early adopters
In the communication model, which of the following refers to the process of translating an idea into a form of communication that will convey meaning?
Encoding
What refers to the stage of the product adoption pyramid in which consumers weigh the costs and benefits of the new product?
Evaluation
In the __ step of the consumer decision-making process, a consumer focuses on two components first, and a consumer armed with information identifies a small number of products in which he or she is interested. Then using a set of evaluation criteria, the consumer will decide among the options
Evaluation of Alternatives
In which step in the consumer-decision making process will a consumer narrow down choices deciding on feasibility, and comparing the pros and cons of each remaining option?
Evaluation of alternatives
When marketers give celebrities free products in hopes the celebrity will like and show off the product, marketers are using ___, which is the process by which people select, organize, and interpret information from the outside world.
Exposure
What refers to a combination of hardware and software that ensures only authorized individuals gain entry into a computer system?
Firewall
The ________ controls the flow of information to other members of a firm.
Gatekeeper
________ make up the largest single business market in the United States.
Government markets
What refers to a measure used for comparing the effectiveness of different media vehicles- average reach frequency?
Gross rating points (GRPs)
Which of the following defines microcultures?
Groups of consumers who identify with a specific activity or art form
What stage of the product life cycle features new competitors that enter the market, creating new variations of the product?
Growth stage
In B2B markets, ________ demand refers to demand in which changes in prices have little or no effect on the quantity demanded.
Inelastic
What refers to demand in which changes in price have little or no effect on the amount demanded?
Inelastic Demand
Which of the following refer to a strategic business process that marketers use to plan, develop, execute, and evaluate coordinated, measurable, persuasive brand communication programs over time to targeted audiences?
Integrated Marketing Communication IMC
After a new product is introduced to the marketplace, which of the following stages of the product life cycle features slow growth?
Introduction stage
According to a recent study, which of the following social media sites was the most often cited to be used by B2B marketers?
Target's computer system was breached when hackers installed ________ designed specifically to damage or disrupt computer systems.
Malware Software
Who are the people who easily influence other's attitudes or behaviors based on perceived expertise or knowledge about a product?
Opinion leaders
1. Which of the following is NOT one of the steps in the decision-making process? a. Product Choice b. Evaluation of alternatives c. Informed search d. Perceived Risk
Perceived Risk
____ is the process by which people select, organize, and interpret information from the outside world.
Perception
If a consumer is experiencing buyer's remorse regarding his or her purchase, the consumer is on what step of the consumer decision-making process?
Post-purchase evaluation
Costco's store brand Kirkland Signature is an example of which branding strategy?
Private-label brand
If a consumer sees a significant difference between his or her current state of affairs and some desired or ideal state, which step of the consumer decision-making process is the consumer in?
Problem recognition
____ is typically the fourth step in the consumer decision-making process in which the consumer decides on one product and acts on this decision.
Product Choice
What refers to a firm's total product offering to satisfy a group of target customers?
Product Line
What refers to a concept that explains how products go through four distinct stages from birth to death: introduction, growth, maturity, and decline?
Product life cycle
A ________ refers to the routine purchase of items that a B2B customer regularly needs. The buyer has purchased the same items many times before and routinely reorders them when supplies are low, often from the same suppliers. Reordering the items takes little time.
Straight Rebuy
Which of the following business-to-business terms refers to the routine purchase of items that a B2B customer regularly needs?
Straight Rebuy
At what phase of the new product development process is a firm likely to create a prototype of the product?
Technical development
Utilizing the communication model, which of the following is an example of a medium?
Television
What best describes frequency?
The number of times an individual will be exposed to the media vehicle.
Which of the following is NOT considered typical of organizational markets?
The ultimate user often makes the purchase
What refers to an allocation of the promotion budget based on management's determination of the total amount to be devoted to marketing communication?
Top-down budgeting technique
What refers to a branding strategy in which a group of individual products or individual brands share?
family brand
Utilizing the models of marketing communication, which of the following tactics is used in the many-to-many model?
social media