Marketing 337 Midterm

what are the five marketing management concepts

1.) Production Concept 2.)Product Concept 3.)Selling Concept 4.)Marketing Concept 5.)Societal Marketing Concept

The Boston Consulting Group Matrix is a tool for classifying SBUs based on their...

1.)Market Attractiveness 2.)Market Growth Rate 3.)Relative Market Share

what type of research method is best suited for discovering?

qualitative methods

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

The quote "It would hardly be fish who discovered the existence of water." refers to...

the pervasiveness of culture

Data suggest that as ice cream sales increase, the number of murders in New York also increases. This is an example of

third variable problem

an ad informing parents that small children need special toothpaste is an example of what?

triggering a need

Some people buy an iPhone mainly to stream content. With regard to these customers, the most relevant competitor for the iPhone is...

A substitute for an IPhone; a tablet

___________ describes an experiment involving one independent variable. ___________ describes an experiment involving two or more independent variables.

AB Testing, Factorial Design

A Company's Mission Statement should describe only tangible characteristics.

False

In a SWOT Analysis, Weaknesses tend to describe unfavorable factors or trends in the external environment. True or False?

False; Threats are external

___________ help the company promote, sell and distribute their product.

Intermediaries

Jessica wants to research the effect of physical age on product usage. Based on the definition of an experiment, is Jessica able to run a true experiment investigating how age affects product usage?

No, not able to do random assignments between old and young.

which of the following would be classified as a need?

need for belonging

Which of the following statements is true regarding social classes in the United States?

Social classes show distinct product preferences in clothing and automobiles

Customer lifetime value is defined as the value of the business of a single customer over a lifetime. True or False?

True

the following is an example of a value proposition: Jitterbug uniquely addresses the needs of older users through ease of use and specific features such as large buttons? True or False

True

Theodore Levitt famously said that "People do not want a quarter-inch drill, they want a quarter-inch hole". In this quote, "a quarter-inch drill" is....

a want

What is laddering?

an interviewing technique where you keep asking questions to understand underlying expectations and needs

Which of the following terms refers to a specific mix of human traits that may be attributed to a particular brand?

brand personality

According to the model of buyer behavior, which of the following is one of the two primary parts of a "buyer's black box"?

buyers decision process buyers characteristics

which of the following are in the Buyers Black box in the stimulus response model of consumer behavior?

buyers decision process and buyers characteristics

what is not an important element that you would want in an experiment?

confounds

Reebok was fined for making unsubstantiated claims in one of their ad campaigns. In other words, Reebok engaged in:

deceptive marketing

external search can include sources such as

family and friends, mass media, sampling the product

what is a typical example of a qualitative research method

focus groups

what main insight did Old Spice gain from their marketing research?

it was often women who made the purchase decision on mens body wash

Rachel loves fashion and is always seen wearing the trendiest fashion outfits. She actively shares her knowledge with a wide group of friends and colleagues about where to shop for the latest fashion at great deals.Most of her friends and colleagues follow her fashion tips. Rachel portrays the image of a(n) ________

opinion leader

A buyer's decisions are influenced by ________ such as the buyer's age and life-cycle stage, occupation, economic situation, lifestyle, personality, and self-concept.

personal characteristics

which of the following can be affected by culture?

wants, views of morality, expectations of product characteristics, perception of product benefits

Companies can research many aspects of buying decisions. However, the one that is the most difficult to identify is ________.

why they buy