MARKETING CH 6,8,9,10
Talbots, an upscale women's clothing store, targets college-educated women between 35 and 55 years old with average household income of $75,000 or more. this is a form of (BLANK) segmentation
demographic
age, gender, and income are methods for describing which type of segmentation?
demographic
television advertising has recently expanded to include "mini-ads," which are short ads lasting five to ten seconds. these ads are most useful in advertising to men, since men are more likely than women to channel surf during commercial breaks. given this fact, this type of advertising will be more useful to marketers engaged in (BLANK) segmentation
demographic
identifying the type of data needed and the type of research required to collect that data is part of the (BLANK) stage of the marketing research process
design
(BLANK) attributes are product or service features that are important to buyers and that are used to differentiate among choices
determinant
it is important to ensure that segments are distinct from one another because too much overlap between segments means that
distinct marketing strategies are not necessary to meet segment members' needs
as part of a global market assessment, firms analyze a country's (BLANK) channels to determine whether the means exist to deliver products in a timely manner and at a reasonable cost
distribution
the number of middlemen that a seller deals with in a network determines the complexity of the global
distribution channel
marketing research can be used to guide decision making for all of the following strategies EXCEPT
distribution methods
retailers may devise a creative solution for getting their product to hard-to-reach consumers. the development of this type of solution is part of the firm's
distribution strategy
(BLANK) is the shared meanings, beliefs, morals, values, and customs of a group of people
culture
which of the following is NOT a psychological factor that can influence the consumer decision process?
culture
exchange control is a term that refers to the regulation of a country's
currency exchange rate
(BLANK) are raw numbers, that on their own, have limited value to marketers
data
the term (BLANK) refers to raw numbers that have limited value to marketers on their own
data
Walmart is known for its efficient logistical systems. every time consumers buy something, that purchase is recorded and sent to company headquarters, where it is used to generate reorders to vendors. in addition, customers' billions of purchases are analyzed to uncover patterns of consumers' purchasing behavior. this is an example of
data mining
a company is reviewing its daily sales transactions to look for buying patterns among its customers. the company is engaged in
data mining
after firms collect large amounts of customer information and purchase history, to access and analyze it, it is stored in a
data warehouse
once the results of the marketing research study are prepared as a report, this report must be presented to the appropriate
decision makers
when Ben & Jerry's Ice Cream wants to identify its next new ice cream flavor, the first step in the company's marketing research process would be to
define the objective
the key to market positioning is
defining the marketing mix variables
(BLANK) segmentation groups consumers according to objective characteristics, such as age, gender, income, and education
demographic
(BLANK) segmentation variables include age, income, and gender
demographic
after assessing the market growth potential in Mexico for his company's baby products, Harmon wanted to evaluate market competitiveness. to do this, Harmon would consider
ease of pricing control and number of promotional outlets
the (BLANK) model proposes that high and low involvement consumers process different aspects of a marketing message or environment
elaboration likelihood
which of the following facilitates globalization?
elimination of trade barriers
Jane works out at a health club, attends yoga classes and reads magazines on women's health to satisfy her inner desires and maintain a happy, satisfied outlook on life. which of Maslow's needs is Jane fulfilling?
esteem
the components of global market assessment include all of the following except
ethical analysis
Becky wanted something light to eat for dinner. she debated between having salad or fish. she chose to eat the salad without dressing, assuming it to be lighter. which of the following factors influenced Becky's decision?
evaluative criteria
When Maya decided to buy a new computer, she thought about all the brands she could recall seeing advertised, but she would consider only those brands she could buy at her local Best Buy electronics store. this represents Maya's (BLANK) set
evoked
marketers particularly want their brands and products to be in consumers' (BLANK) sets
evoked
when a consumer decides to make a purchase either at Banana Republic or Macy's, this would be considered the consumer's (BLANK) set
evoked
in assessing a foreign nation's infrastructure, a marketer would examine all of the following EXCEPT
exchange rates
Manuel wants to sell his new product in foreign countries but with the least amount of risk to himself and his business. what market entry strategy should Manuel choose?
exporting
global expansion often begins with
exporting of goods
consumers often use (BLANK) problem solving for risky purchase decisions
extended
high buyer involvement is likely to lead to what kind of problem solving?
extended problem solving
Coca-Cola's experiments using (BLANK) record participants' faces as they watch advertisements or prototypes, then assess how their eyes moved, when they smiled or frowned, and so on
facial recognition software
qualitative research is informal and includes experiments and surveys
false
true or false : a structured questionnaire is a form that has questions designed to gather detailed data about the feelings and thoughts of respondents
false
(BLANK) is one of the most substantial influences on buyer behaviors and attitudes. it is the smallest, most immediate reference group with whom one learns how to use consumer products and services and the brands they often continue to use for life
family
Charley would like to buy a high-end Sony laptop. the Sony costs 25% more than most others he has considered. what type of risk is Charley experiencing?
financial
Melanie is considering purchasing a dress. the price is good, but it will need dry cleaning which will add to the costs in the long run. Melanie is experiencing (BLANK) risk
financial
a franchise is a contractual agreement between
firms or a firm and individual
globalization refers to the processes by which goods, services, capital, people, information, and ideas
flow across national borders
Frederica manages an upscale women's clothing store. she wants more information about her customers' general feelings about upcoming fall fashions. Frederica will most likely use (BLANK) to gather this type of data
focus group reviews
pharmaceutical companies must carefully design studies to assess which dose of a particular medicine or ingredient actually causes the desired outcome, such as pain relief. for these research studies, pharmaceutical companies use
focus groups
talking to small groups of women in an unstructured manner about what women want from soup, led Campbell's to develop its Select Harvest soup line. which research technique did Campbell's use in this example?
focus groups
which of the following is NOT a quantitative research method?
focus groups
franchising is a contractual agreement between a firm, the franchisor, and another firm or individual, known as the
franchisee
Jonathon does a lot of hiking in cold climates and needs warm clothing. His need for warm clothing is a(n) (BLANK) need
functional
when car manufacturers advertise MPG, safety ratings and how fast their cars go from 0-60 mph they are tapping into consumers' (BLANK) needs
functional
the need for a warm jacket in the winter is a (BLANK) need, while the need for designer fashions may be classified as a (BLANK) need
functional ; psychological
which of the following metrics measures the market value of the goods and services produced within a country over a one-year period?
gross domestic product
whenever Meredith buys toothpaste, she always automatically reaches for the same brand and puts it in her shopping cart with no thought or effort. Meredith is engaging in
habitual decision making
a consumer would generally engage in more information search activities if he or she
had an internal locus of control
compared to most available targeting strategies, differentiated targeting is
more expensive
when it comes to a firm's pricing ability, foreign business law is often
more stringent than it is in the United States
the greater the discrepancy between a consumer's (BLANK), the greater the consumer's need recognition will be
needy state and desired state
a very real problem for marketers is (BLANK) word of mouth from dissatisfied customers
negative
the component of segmentation that is determined by how we live our lives to achieve goals is called
lifestyle
when Talbots, an upscale women's clothing store, tries to portray an image of "traditional, conservative, and with good taste," it is appealing to its target market's
lifestyle
marketing managers often appeal to consumer's (BLANK) when developing the marketing mix to be sure it fits with how they spend their time and money
lifestyles
Wayne buys a new laptop every two years. at this point, rather than research different brands, he simply orders the latest version of the one he already has. for Wayne, the laptop is a (BLANK) problem-solving purchase experience
limited
a purchase decision which typically involves (at most) a moderate amount of effort and time is called
limited problem solving
gross national income consists of GDP plus (BLANK), without including any payments made to those who do not live in a country but who contribute to the domestic economy
net income earned from investments abroad
the ability to read consumers' minds by measuring involuntary brainwaves when viewing products, ads or brand images is the premise behind
neuromarketing
(BLANK) is defined as the basic facilities, services, and installations needed for a community or society to function, such as water and power lines, and public institutions
infrastructure
transportation, distribution channels, communications, and commerce are the four key elements of a country's
infrastructure
Horace needs a new pair of running shoes. he first thinks about the last pari he bought, how comfortable they are, and how well they have held up. in this example, Horace is conducting a (BLANK) search for information
internal search
data on customer information, and purchase histories is considered to be
internal secondary data
the in-depth (BLANK) is a qualitative research technique in which researchers ask questions, record the answers, and then ask additional questions to clarify a particular issue
interview
(BLANK) refers to a consumer's interest in a product or service
involvement
Jim considers the purchase of a six-pack of beer rather indifferently, as he will drink any brand that is fairly inexpensive. his low degree of interest in beer classifies him as a low- (BLANK) beer buyer
involvement
an exchange rate quantifies how much a currency
is worth in relation to another
what does the value proposition do for marketers?
it communicates the customer benefits provided by a product or service
Paul is considering psychographics as a way to segment the market for his small travel agency. this approach to segmentation offers him an advantage because
it is based on underlying motivations of target customers
you work for a company that sells baby products. your manager asks you to conduct research on automotive sales in your area. the problem with this research objective is that
it is irrelevant to the baby products company
which of these is NOT an advantage of secondary research?
it is the best source of unbiased data
postpurchase behavior is critical to marketing managers primarily because
it is the opportunity for marketers to measure and track satisfaction
a major disadvantage of primary data collection is
it requires more sophisticated training and experience to design the study and collect data
whether secondary or primary, any data collected would need to meet all of the following criteria EXCEPT
it should be relevant
when Ben evaluated the commercial infrastructure in Mauritius, he considered the island's
legal, banking, and regulatory systems
Kathy has naturally curly hair and has often been disappointed with the haircuts she has received. when she moved to a new town, she approached her new office mates and several strangers with curly hair and asked them where they had their hair cut. she chose to spend considerable effort finding a new hair stylist based on the (BLANK) associated with her purchase decision
performance risk
(BLANK) data is research information collected to address specific research needs
primary
a major advantage of (BLANK) research is that it can be tailored to fit the pertinent research questions
primary
in many cases, the information that researchers need is available only through (BLANK) data, or data not previously available that must be collected to address specific research needs
primary
the salient attribute positioning method focuses on the most important (BLANK) attributes for a target market
product
market growth (current size and expected growth rate), market competitiveness (number of competitors, entry barriers, and product substitutes), and market access are all important factors in analyzing which criteria?
profitable
a (BLANK) strategy is used for many basic commodities, such as salt or sugar, where the products are perceived to provide similar benefits to most consumers
undifferentiated
when everyone might be considered a potential user of its product, a firm likely uses a (BLANK) targeting strategy
undifferentiated
when firms sell commodities, or products, that are considered the same as those of its competitors, it should use a (BLANK) targeting strategy
undifferentiated
Simon omitted some key data in a report for a client to make the report look "better." omitting this information was
unethical
(BLANK) sets include all the possible choices for a product category
universal
even if a firm has developed a product that addresses the needs of a specific, substantial market segment, its efforts will fail if the segment is
unreachable
what type of questionnaire question allows respondents to answer in their own words?
unstructured question
a (BLANK) designates the maximum quantities of a product that may be brought that may be brought into a country during a specified time period
quota
a nation wants to limit the amount of a product that can be imported into it for a period of time by setting a maximum import quantity. this nation should institute a
quota
when consumers' choice are affected by members of their family, reference group, or culture, they are being influenced by (BLANK) factors
social
in some countries, Sundays are valued by its citizens as a day of relaxation and family time and it is against the law for stores to be open on a Sunday. this shared value is part of which environment?
sociocultural
Reginald greets his regular customers by name every morning when they come in for coffee. he offers them a taste of anything special he is cooking that day. he has a database with their birthdays, and offers them free meals on their birthdays. Reginald hopes that this attention to his "regulars" will encourage them to
spread positive word of mouth
marketers might be less interested in countries with the highest purchasing power because of (BLANK) growth and saturated markets
stagnated
the global product strategy a firm chooses depends on the needs of its
target market
which of the following are factors that firms consider when determining the need for and level product adaptation in a foreign market?
- the country's level of economic development - differences in product and technical standards - cultural differences between countries
which of the following are major economic factors that firms consider when they conduct an economic analysis of a country market?
- the general economic environment - the market size and population rate of growth - real income
which of the following are external searches for information when looking to purchase a new car?
- you browse the manufacturer's website - you ask your brother how he likes his new car - you purchase a copy of consumer reports
direct investment requires a firm to maintain (BLANK) ownership of its facilities, offices, and plants in a foreign country
100%
prices in the global marketplace is a difficult task for which of the following reasons?
- issues such as tariffs and anti-dumping laws might exist - many countries have rules governing the competitive marketplace
select all of the following that are disadvantages of primary data collection
- it costs more - it takes more time
why should managers pay attention to the customer defection rate?
- it reveals how many customers switch to some other company each year - it affects the company's profits
which of the following lead to differences in communication strategies around the world?
- literacy levels - advertising regulations - the availability of media
which of the following are key factors to keep in mind when marketers focus their assessments on the potential profitability of market segments
- market competitiveness - market access - market growth
what are the factors considered in the analysis of profitability of a market segment?
- market competitiveness - market growth - market access
in creating a perceptual map, a company should represent which of the following to help determine the importance to give to specific markets?
- market size - ideal market points
Hofstede's cultural dimensions concept believes cultures differ on which of the following dimensions?
- masculinity - power distance - individualism
which of the following are targeting strategies?
- micromarketing - concentrated marketing - undifferentiated marketing
list the correct sequence of the consumer decision process, starting from the beginning
- need recognition - information search - alternative evaluation - purchase and consumption - post purchase
joint ventures can be a risky entry strategy because
- partners might disagree - governments might place restrictions on the entering firm
many firms choose the direct investment strategy when entering foreign markets because
- potential profits are not shared with other firms - it offers complete control over operations
which of the main value components are contained in the value proposition "SportsAde offers serious athletes a great-tasting way to stay hydrated during exercise?"
- product/service category or concept - target market - unique difference/benefits
which of the following statements about global population growth between the early 1900s and today are true?
- rates of population growth are unevenly spread around the world - today less-developed countries are experiencing rapid population growth
what are the steps in market planning in order, beginning with the first step at the top?
- segmentation - targeting - positioning
what are the three components of the STP process?
- segmentation - targeting - positioning
which of the following are examples of self-values?
- self-respect - sense of belonging - self-fulfillment
what are the three major components of psychographic segmentation?
- self-values - self-concept - lifestyles
which of the following are the three potential global product strategies
- selling a product in the host country with minor adaptations from what is sold in the home country - selling the same product or service in both the home and host country - selling a completely new product in the host country
what questions should managers consider before beginning a marketing research project?
- should the research project be large or small? - will this specific research be useful - will the top management be committed to this project
which of the following factors threaten Chinese economic growth?
- slow population growth - a rapidly aging population
which of the following are descriptive criteria considered by marketers to evaluate whether a segment is attractive and worth pursuing?
- substantial - reachable - profitable - identifiable
firms position products based on which of the following?
- symbols - value proposition - salient attributes
some details used to evaluate the general economic environment include
- the GDP - the trade deficit or surplus
if the value of the U.S. dollar decreases significantly compared with other important world currencies
- the costs of American goods and services become cheaper to foreign buyers - foreign goods and services imported to the U.S. cost more
the step in the marketing research process that follows research design is
collecting the data
when Porsche filmed an advertisement in which its vehicles ran over the Great Wall of China, Chinese consumers were left more confused than intrigued. to address or avoid such issues, one important cultural classification scheme that firms can use is Geert Hofstede's cultural dimensions concept. Hofstede proposes that cultures differ on all of the following dimensions except
collectivism
differences in literacy levels, media availability, language, customs, and culture most directly affect a firm's global (BLANK) strategy
communication
the major challenge in developing a global (BLANK) is identifying the elements of an advertising campaign that need to be adapted in the global marketplace
communication
consumer decision rules are the set of criteria that consumers use to quickly and efficiently select from among several alternatives. these rules are typically non compensatory or
compensatory
"pork. the other white meat" is an advertising campaign that promoted pork as a white meat alternative to chicken or turkey. this is a positioning strategy that focuses on
competition
which of the following is NOT a key element needed to develop and communicate a firm's value proposition?
competition
marketing research projects often begin with an examination of (BLANK) data
competitive
the most common measure of market potential of an economy is a country's
GDP
which country is Europe's largest Internet market, with Internet users growing at a rate of 10 percent annually?
Russia
which of the BRIC countries is attempting to improve trade relations with other countries by negotiating to enter the World Trade Organization?
Russia
which of the following is currently a negative factor for foreign investment in Russia?
Russia is known for corruption, creating ethical dilemmas for firms
the consumer buying process begins when
a consumer recognizes an unsatisfied need
for which of these products or services would a consumer typically engage in a more extensive search for information?
a house
for which of the following would a buyer least likely engage in extended problem solving?
a pair of jeans
which of the following best describes a focus group?
a small group of people put together for an intensive discussion
(BLANK) is a market entry strategy in which independent companies form a partnership to collaborate in the foreign market but do not necessarily invest in each other
a strategic alliance
though they do not invest in each other, many airlines form partnerships in which they share their ticketing and reservation systems to make it easier for flyers to book trips which require multiple connections. these airlines are using which market entry strategy?
a strategic alliance
all of the following data sources would be considered external secondary data except
a survey
all of the following affect the consumer search process EXCEPT which element?
accounting processes and procedures
need recognition is the difference between a (BLANK) state, such as the fact that the consumer is hot and thirsty, and a (BLANK) state, in which a lemonade would be refreshing and would offer one solution to the problem
actual ; desired
marketers are particularly interested in postpurchase behavior because it involves
actual customers
the level of economic development, as well as differences in product and technical standards, help determine the need for and level of product (BLANK) in a global product strategy
adaptation
when conducting a survey about choosing vacation destinations, Hillary will need to (BLANK) in order to get reluctant respondents to provide honest information
assure consumers that their individual responses will be kept confidential
a (BLANK) consists of three components. it is learned, long lasting, and might develop over a long period of time. for instance, you might like your instructor for much of the semester until he/she returns your first exam
attitude
marketers use promotions in an attempt to change consumers' beliefs and feelings about a product or service. psychologically, they are trying to change consumers'
attitudes
the third step of the market segmentation process is to evaluate segment (BLANK), which is based on such criteria as its profitability, responsiveness, and reachability
attractiveness
the tools that consumers use to organize alternative solutions to needs, products, and brands are known as (BLANK) sets and include universal sets, retrieval sets, and evoked sets
attribute
Jim wants to position his firm against his competitors. in doing so he should
avoid looking too much like the competitor so as not to confuse the target segment
which of the following would most likely be marketed using an undifferentiated targeting strategy?
basic commodities
when the consumer uses many evaluative criteria such as fuel economy, acceleration speed, and the availability of extra features, like satellite radio or GPS, to make a decision about purchasing a car, the consumer is
basing the decision on important, salient features of the car
Wanda and Jim are working on a research project to anticipate customer attitudes toward a proposed new product line for their company. they have worked with the marketing manager to determine the answers that are needed and have created a detailed design of the project. their next logical step will be to
begin to collect data
suppose that coca-cola were to divide its market up into segments based on the amount of soda consumers drink (heavy, medium, and occasional soda drinkers). what type of segmentation does this represent?
behavioral
Alex decides to make a donation to the Autism Research Institute. which component of Alex's attitude toward autism research does this represent?
behavioral component
(BLANK) segmentation groups consumers on the basis of the outcomes they seek and derive from the products or service, such as clothing, appliances, toothpaste, or paper towels
benefit
sometimes consumers have second thoughts after buying goods that are expensive, infrequently purchased, or associated with a high level of risk. this is an especially critical time for marketers, as their customers are dealing with
buyer's remorse
which of the following are types of qualitative research methods
- focus groups - observation - in depth interviews
what are the two types of information search?
- internal search - external search
marketing research consists of which of the following?
- interpreting data - analyzing data - collecting data
experimental research:
- is quantitative research - systematically manipulates one or more variables
which of the following are benefits of conducting surveys online rather than in person?
- fast processing - higher response rate - lower cost
which of the following are defined distinctly as a reference group that might influence the buyer's choices and behaviors?
- family - coworkers
Fiona is looking to expand her pet grooming business and wants to evaluate the profitability of a potential new market. the area she is looking at has 2,000 homes and Fiona estimates that 20 percent of them would be likely to use her service. she charges $45 per grooming and on average customers groom their pets six times a year. fiona estimates her variable costs to expand her business will be $10 per grooming and her fixed costs are $10,000. how much profit would Fiona make on this new segment?
$72, 240
what components of attitude do marketing communications usually target?
- affective - cognitive - behavioral
Michelle is looking for a new apartment. her first option is located two blocks from her job. the rent is at the top of her price range and it is smaller than she was hoping for. the fact that the complex is close to work and allows her to have her dog Mack, put it at the top of her list. what are the perceive benefits of Michelle's possible new apartment?
- allows pets - proximity to work
which of the following factors threaten Russia's prospects for economic growth?
- an aging population - widespread corruption
which of the following are among the five stages in the marketing research process?
- analyzing the data - collecting the data - defining objectives
which of the following are the Circles for a Successful Value Proposition?
- benefits offered by competitors - the company's offerings - customer needs and wants
establishing what information is required to answer specific research questions and how that information should be obtained helps determine which of the following?
- budget - time
which of the following are sources of secondary data?
- census data - information from trade associations - sales invoices
marketers collect primary data by using which of the following techniques?
- conducting focus groups interviews - surveying customers - observing consumer behavior - mail, telephone, and in person interviews
which of the following are reasons marketers must adapt their global distribution strategies for developing countries?
- consumers shop in small, family-owned retail outlets - foreign firms often cannot reach them easily
place the stages of the marketing research process in the correct order
- defining objectives - designing the research objective - data collection - analyzing data - implementing the action plan
list the following in order of the segmentation, targeting, and positioning process, with the first step at the top
- establish strategy or objectives - use segmentation methods - evaluate segment attractiveness - select target market - identify and develop positioning strategy
which of the following are drawbacks of using in depth interviews for market research?
- expensive - time consuming
its large literate population and the development of social programs have enabled more than half of the population of (BLANK) to join the middle class
Brazil
which BRIC country currently has the second largest economy in the world?
China
which country has embraced market-oriented economic development in spite of maintaining communist political ideals?
China
which of the following is one of the BRIC countries?
China
which of the following is NOT one of the three segments involved in determining psychographics?
cognitive dissonance
a publishing company plans to outsource its production-related tasks to a BRIC country. they are assessing opportunities and are attracted to this country due to its population of young, well-educated, technically-skilled workers who are fluent in English
India
which of the BRIC countries is one of the world's fastest growing markets with one of the youngest populations in the world?
India
in which situation did an alternative evaluation option occur within the search process?
Kevin searches for a new car on the Internet before visiting the "The Miles of Cars" store
gross domestic products is defined as the total market of (BLANK) produced by a country in a year
all goods and services
the consumer decision process is
all the steps consumers experience when trying to decide on whether or not to make a purchase
Bethany is in the shampoo aisle of her grocery store comparing brands. she eliminates a few based on price and others based on their fragrance. Bethany is engaged in
alternative evaluation
Mary's Bakery is trying to determine what price to charge for its cookies, so Mary places a low price on them and raises it each week, keeping track of how many she sells. then she determines what her cost was for the cookies and determines which price was the most profitable. what form of research was Mary conducting?
an experiment
the Gap clothing company has limited resources and must make efficient and effective decisions to focus its efforts on a specific portion of the market. the Gap would be advised NOT to use which strategy?
an undifferentiated targeting strategy
before a research project begins, managers would consider all of the following issues EXCEPT
are our competitors conducting market research as well
facial characteristics, iris scans, and fingerprints are all types of
biometric data
if a firm has demographic and purchasing information about its customers, the firm can use data mining techniques to
build separate marketing programs for different demographic segments
(BLANK) is the number of people who stop using a service divided by the average number of total people
churn
for which of the following purchases would consumers most likely engage in limited problem solving?
coffee to go, for a regular coffee drinker
of all the possible postpurchase outcomes, which is the one retailers and consumers would like to avoid?
cognitive dissonance
language differences can (BLANK) marketers' ability to communicate with customers in different countries
complicate
by selecting only senior women golfers as the target and focusing all efforts on products to fit their needs, a firm is using a (BLANK) targeting marketing strategy
concentrated
four frequently used targeting strategies are the micromarketing, undifferentiated, differentiated, and (BLANK) targeting strategies
concentrated
when an organization selects a single, primary target market and focuses all its energies on providing a product to fit that market's needs, it is using a (BLANK) targeting strategy
concentrated
which of the following illustrates an internal locus of control?
consequences are the result of my actions
Sally knows she needs to get into shape, and she asks her friends what gyms they go to. her friends recommend two different gyms. she loves the gym she selected so much she even started recommending it to her friends. in what process was Sally engaged in when trying to get back into shape?
consumer decision making
a consumer's intention to buy does not always lead to actual purchase. which of the following is used to measure how often intentions actually lead to purchase?
conversion rates
one disadvantage of primary versus secondary research is that primary research is typically
costly
a trading block comprises
countries that have signed a particular trade agreement
to attract and maintain habitual purchasers, marketers spend considerable effort
creating strong brands and store loyalty
to succeed globally, McDonald's found that in foreign countries they had to
develop new menu items
which of the following is NOT a part of the segmentation, targeting, and positioning process?
developing a corporate mission statement
brands can be extremely valuable domestically, but challenging internationally. companies can help overcome language difficulties in using brands by
developing brand names that have no preexisting meaning in any known language
Condé Nast has more than 20 niche magazines focused on different aspects of life. which targeting strategy is it using?
differentiated
firms using a (BLANK) targeting strategy target several market segments with a diverse offering for each
differentiated
BMW, the German company that makes automobiles, motorcycles and other products, owns and operates a manufacturing plant in Spartanburg, South Carolina in the United States. which entry method did BMW use in this case?
direct investment
which market entry strategy has the highest degree of risk?
direct investment
marketers often create a special marketing mix for loyalty segments because these segments are
generally profitable
because consumers in the same neighborhoods tend to buy the same types of cars, appliances, and apparel and shop at the same types of retailers, (BLANK) segmentation can help retailers to tailor each store's assortment to the preferences of the local community
geodemographic
Kim's Kayak Tours initially identified active retirees living in the retirement community nearby as one of its target markets. Kim then tailored her service and marketing message to the interests and schedules of that audience. Kim initially used (BLANK) segmentation and then used (BLANK) segmentation
geodemographic ; lifestyle
retail store chains often use (BLANK) data to tailor each store's assortment to the preferences of the local community
geogemographic
(BLANK) segmentation organizes customers into groups on the basis of where they live
geographic
McDonald's promotes coffee in cold, rainy Seattle and seasonal seafood meals including lobster and crab in select markets like New England. this is an example of (BLANK) segmentation
geographic
grouping a market by country, region (northeast, southeast), or areas within a region is known as (BLANK) segmentation
geographic
when a microbrewery primarily sells its products within 250 miles of the brewery, it is following which segmentation pattern?
geographic
differences in weather and climate create opportunities for
geographic segmentation
market differences across continents create opportunities for
geographic segmentation
(BLANK) refers to a strategy in which firms sell a standardized product around the world but develop different promotional campaigns for different countries
globalization
in the twenty-first century, goods, services, capital, people and information, and ideas often flow across international borders, a process known as
globalization
of the five strategies for entering new markets, direct investment creates the
greatest potential risk
market positioning involves a process of defining the marketing mix variables so that the target customers
have a clear, distinctive understanding of the product
prices are often different in the global marketplace than they are in the home country because a firm's produce may not
have the same positioning as they do in the home country
every month, Dr. Combahee takes her staff to lunch and asks them to share patients' comments and concerns. Dr. Combahee uses the lunches as an informal marketing research effort intended primarily to
help her understand the needs of her customers
the term trade deficit refers to
higher levels of imports than exports
psychographics studies
how consumers describe themselves
a point where a market segment's desired product would be located on a perceptual map is called a (BLANK) point
ideal
what is the first stage in determining whether a segment is attractive and, therefore, worth pursuing?
identifiable
Victor's custom auctioneering service provides online auction selling assistance. Victor plans to conduct marketing research to determine which auction site is best for his customers. his next step is to
identify the type of data he needs
global distribution networks form complex value chains that ultimately (BLANK) the final selling price of a product
increase
a trade deficit means that a country
imports more goods than it exports
Kerry was in her grocery store and saw a display for a new organic yogurt. she had not planned to buy it, but decided on the spot to buy one and try it. Kerry's purchase represents
impulse buying
Randall wants to do an online survey of college professors about the factors that influence their textbook selection. he would like to use a structured survey but is not sure what responses to include for each question. Randall could use (BLANK) to help him develop his survey
in depth interviews
using (BLANK), trained researchers ask questions, listen to and record the answers, and then pose additional questions to clarify or expand on a particular issue
in depth interviews
which of the following is TRUE regarding distribution in less developed countries?
in less developed countries, it takes more middlemen to get products to retailers
as firms build databases that contain customer (BLANK), marketing researchers must be careful not to abuse this collection, which may contain sensitive personal details
information
data needs to be organized, analyzed, and interpreted in order to become (BLANK), which is useful for marketing decision making
information
Karen just got a haircut, and she is exhibiting normal post purchase behavior. that behavior could be any of the following except
information search
in India, Walmart contributes its supply chain and logistics expertise while an Indian company, Bharti Enterprises, owns and manages the actual retail stores. they do share control and profits of the operation. this arrangement between Walmart and Bharti is a
joint venture
India, like some other countries, may require entering firms to create (BLANK) when expanding into their markets, limiting outsiders' control of businesses
joint ventures
market researchers use social media to
learn about customers likes and dislikes
Stuart wanted to impress Janet with the perfect engagement ring. he had been saving money for months, and he noticed his attitudes and perceptions about diamond rings changing as he began paying attention to ads for rings. marketers call this process
learning
exporting is an entry strategy that requires the (BLANK) financial risk and allows a (BLANK) return to the firm
least ; limited
goods and services that serve the same needs and wants on a global scale often require
little to no adaptation in form or message
Acme Corp. has altered its widely used advertisement for its canned products in consideration of a certain country's cultural differences. this is an example of (BLANK) a communication strategy
localizing
Tomas, a bank employee, doesn't feel that his coworkers accept him. he decides to dress more casually, as they do, hoping to be accepted. which level of Maslow's hierarchy of needs is Tomas trying to work on?
love
when airlines created frequent-flyer programs, they were among the first retailers to embrace
loyalty segmentation
which of the following is NOT a factor influencing the profitability of a segment over the lifetime of a typical customer relationship?
market growth rate
the process of dividing the market into groups of customers who have different needs, wants, or characteristics is called (BLANK). these groups of buyers might want products or services designed especially for them
market segmentation
Alex has found that both commercial and residential real estate buyers respond positively to his marketing communication message. Alex has identified (BLANK) that respond similarly to his marketing efforts
market segments
which of the following is NOT a method that firms use to position products?
market share
firms spend millions of dollars to develop brand names that have no preexisting meaning in any known language because
marketers want to avoid potential embarrassment that language confusion can cause
one of the biggest disadvantages of using secondary data is that it
may not be relevant to the project
"Corporate pilot fish" are former employees who start a new business based primarily on contacts and contracts with their old company. a corporate pilot fish would probably pursue a (BLANK) targeting strategy
micromarketing
when a firm adapts a product or service to meet an individual customer's wants or needs, it is undertaking an extreme targeting strategy called
micromarketing
when a firm tailors a product or service to suit an individual customer's wants or needs, it is undertaking
micromarketing
(BLANK) is a type of research that can vary in length from a very short period to days or weeks
observation
(BLANK) is qualitative research method that entails examining purchase and consumption behavior through personal viewing or video camera scrutiny
observation
(BLANK) research is particularly useful when consumers are unable to talk about their experiences
observation
Bianca's discount home furnishings store is in a strip mall. she wants to know what other businesses in the strip mall her customers visit when they come to her store. to collect information for this objective, Bianca will most likely use
observation
toymaker Fisher-Price has set up labs where it uses video cameras to record children playing with toys. which research technique is Fisher-Price using?
observation
(BLANK) segmentation is a very specific form of behavioral segmentation by which segments are formed based on use of the product or service for a special event or activity, rather than everyday activities
occasion
behavioral segmentation based on when a product or service is purchased or consumed is called (BLANK) segmentation
occasion
Qualtrics, SurveyMonkey, and Zoomerang are examples of
online survey software
Franco, a former retailer, has been living in the United States for five years and wants to start a business. he does not have an existing firm or a product, and he doesn't have a lot of capital, but since he loves McDonald's food, he decides to
open a McDonald's franchise
unstructured questions are (BLANK) questions
open-ended
in determining the value proposition, the best situation is when a firm's product offering
overlaps with customer needs without overlapping with competitor offerings
ratings of television programs are obtained at a party by signing up households for long-term measurement of their viewing habits. this is an example of (BLANK) data
panel
generally, people buy one product or service instead of another because they
perceive it to be a better value
American visitors to the Indonesian island of Bali are often aghast when they see the sign for the Swastika resort. Americans associate the swastika symbol with Nazi Germany while Indonesians associate the symbol with the four major elements on Earth. the two groups have different
perceptions
Sandy thinks the east side of her city is a great area to own a home and raise a family. John thinks the east side has a lot of crime, poor schools, and would be a poor choice of location to own a home and raise a family. Sandy and John have different (BLANK) regarding the east side of their city
perceptions
what analytical tool is used to display, in two dimensions, the locations of products or brands in the consumer's mind?
perceptual map
every year before he puts his boat in the water, James has his mechanic put a new battery in the boat. James is most likely concerned with (BLANK) risk
performance
for most car buyers, the most important reason they seek safety information before buying a new car is to reduce (BLANK) risk
physiological
Rank Maslow's hierarchy of needs starting with most basic needs at the top of the list through the theoretical progression of the needs to the highest need at the bottom
physiological safety love esteem self-actualization
which of the following is NOT a market segmentation approach?
political
a dramatic economic downturn caused by (BLANK) can increase a foreign entrant's risk considerably
political instability
the key point in the consumer decision process at which marketers can solidify consumer loyalty is during the final step, the (BLANK) stage
post purchase
Sheila is happy with her new HDTV, but she keeps having an uneasy feeling that she could have made a better choice. Sheila is experiencing
post purchase cognitive dissonance
many teenagers, both male and female, have clothes they purchased in the past that they "would not be caught dead in" today. when they occasionally see those clothes hanging in the back of their closet, these teenagers probably feel
post purchase cognitive dissonance
according to Geert Hofstede, which of the following dimensions measures a culture's belief that inequality between social classes is natural?
power distance
Baby Boomers represent a huge demographic segment for travel marketers. Baby Boomers are also heavily motivated by self-fulfillment, which creates the possibility of (BLANK) segmentation
psychographic
VALS is the most widely used (BLANK) segmentation tool
psychographic
Desiree purchases designer brand clothing because it makes her feel special. for Desiree, these brands are filling a (BLANK) need
psychological
Laura has an almost-new economy car, but she wants a Ford Mustang because she thinks it would be exciting to own one. if she decides to purchase a sports car such as the Mustang, she will be primarily fulfilling a (BLANK) need
psychological
celebrities often are photographed wearing expensive designer products such as dresses or shoes. this often increases demand for these products because they are filling a (BLANK) need for many consumers
psychological
consumer decision making about products and services is influenced by the configuration of all of the following; marketing mix, social influences, (BLANK) factors, and situational factors
psychological
the Big Mac Index is a novel measure of
purchasing power parity
(BLANK) research provides mathematical information needed to confirm insights, and managers can use it to pursue appropriate courses of action through many types of data collection
quantitative
which of the following is NOT one of the main components of a value proposition?
reach a large audience
college students can be a less (BLANK) market segment because students' media habits are quite diverse and firms might have to use a wide variety of media to attract this segment
reachable
marketers use persuasive communications and product distribution in an effort to make sure its market is
reachable
Karen has identified four potential market segments for her Rent-A-Chef home meal catering service. she will now evaluate whether or not each segment is attractive relative to all of the following except
realistic
a firm's decision to begin global expansion often begins when the firm
receives an order for a product or service from another country
advanced marketing research technology called facial (BLANK) software can be used to show ads to individuals based on their demographic characteristics as determined from a video frame
recognition
need (BLANK) is the first stage in the consumer decision process
recognition
all consumer purchase decisions start with
recognizing a need
Julie heard her friends talking very favorably about a local coffee shop and decided she would go there and try it. for Julie, her friends served as a(n)
reference group
many Hollywood movie stars were among the first to buy electric and hybrid vehicles. these stars often become (BLANK), influencing other consumers' behavior
reference groups
for a segmentation strategy to be successful, the customers in the segment must react similarly and positively to the firm's offering. in other words, the segment must be
responsive
the manager of Plantation River Country Club wanted members of the very upscale club to use the bar and dining facilities more frequently. he offered a two-for-one "happy hour" special but few members showed up. the manager did not have a grasp of what would make his target market
responsive
customers in the segment must react similarly and positively to the firm's offering. this quality is known as (BLANK), which is an important element of successful segmentation
responsiveness
when Magda decided to buy a new computer, she considered all the brands she could recall seeing advertised. this represents Magda's (BLANK) set.
retrieval
(BLANK) refers to a situation in which a company first develops a product for an underdeveloped market and then expands to its home market
reverse innovation
one Laptop Per Child is a nonprofit initiative with the goal of making extremely low-cost laptops available to children in the developing world, with the goal of helping them learn skills needed in today's workforce. if some of the low-cost technology developed for this laptop found its way into laptops created for U.S. consumers, this would be an example of
reverse innovation
the length and intensity of the information search are based on the degree of perceived (BLANK) associated with purchasing the product or service
risk
companies cannot include every customer in marketing research, so researchers choose a group of customers who represent the customers of interest, or a
sample
the information obtained by recording the UPC codes of items purchased at a checkout counter is called (BLANK) data
scanner
customers' weekly consumption habits can be obtained during checkout through the use of
scanner data
data gathered from trade journals, the Census Bureau and specialized research firms is (BLANK) data
secondary
data purchased from a consumer research company, such as J.D. Power and Associates, is considered to be (BLANK) data
secondary
external (BLANK) data are information bits that have already been collected from other sources before the start of a focal research project
secondary
invoices, customer lists, and financial reports are all types of (BLANK) data
secondary
(BLANK) are pieces of information that have already been collected before the research project starts
secondary data
Mario is thinking of opening a restaurant and wants a list of other restaurants in his targeted neighborhood. Mario could easily find this data through
secondary data sources
the (BLANK) strategy must be consistent with and derived from the firm's mission and objectives, as well as its current situation- its strengths, weaknesses, opportunities, and threats (SWOT)
segmentation
a successful marketing plan requires identifying and evaluating opportunities by performing an STP analysis, which stands for
segmentation, targeting, positioning
Ronaldo wants to develop an Internet auction-based business and is working through the STP process. after establishing his objectives, describing potential market segments, and evaluating the attractiveness of each segment, Ronaldo now has to
select a target market
(BLANK) is the image people really have of themselves
self-concept
to ensure postpurchase satisfaction, marketers should do all of the following EXCEPT
set low customer expectations
in a joint venture, a company
shares the financial burden with a local partner in a foreign market
direct investment exposes a firm to (BLANK) risk
significant
the shift of population from rural to urban areas in countries such as India helps global marketers by
simplifying the supply chain needed to make goods and services available
if a market is too (BLANK) and its buying power (BLANK), it won't generate sufficient profits or be able to support the marketing mix activities
small ; insignificant
data mining uses various (BLANKS) tools to uncover previously unknown patterns in the data or relationships among variables
statistical analysis
a (BLANK) question is a closed-ended question with a specific set of possible answers, such as a yes/no question
structured
when conducting a research study attempting to understand what features were most important to automobile consumers, Gary's Research Company used a questionnaire containing (BLANK) questions, with a predetermined set of response options
structured
if a market is too small or its buying power insignificant, that market would fail to meet which criteria for evaluating market attractiveness?
substantial
which of the following is a conclusive research technique?
surveys
Colonel Sanders, the Jolly Green Giant, the Gerber Baby, and Tony the Tiger are all examples of which positioning tool?
symbols
some (BLANK), such as the Nike swoosh, are so strong and well known that they help position the brand
symbols
Jaleel is the marketing manager for a moderately well-known rock band. he wants to know more about industry trends including sales by different musical styles, online downloads, and concert attendance. Jaleel will most likely use (BLANK) to gather this type of data
syndicated data
a tariff is a (BLANK) imposed on a product imported into a country
tax
situational factors often include (BLANK) factors, such as the fact that a store is closing in a few minutes
temporal
which of the following factors do not directly influence a consumer's information search and purchase decision?
the firm's accounting process
GDP is defined as
the market value of goods and services produced in a country in a year
a risk in using franchising as a global entry strategy is
the need to share profits
just as marketers create value by meeting the needs and wants of consumers, marketing researchers create value if
the results will be used making management decisions
the unique value that a product or service provides to its customers and how it is better than and different from those of competitors is referred to as
the value proposition
firms position their products based on methods such as
the value proposition, salient attributes, symbols, and competition
all of the following would be external information sources for a consumer EXCEPT
their past experience
which statement about metrics is true?
they are NOT likely to give a full picture of the economic health of a country if they are based solely on material output
what do the BRIC countries have in common?
they are experiencing significant levels of economic growth
Joe is reviewing secondary data his company collected about seasonal variations in consumer spending because he is thinking about developing a new product line. the advantages of using these data include
they can be quickly accessed at a relatively low cost
a (BLANK) means that the country imports more goods than it exports
trade deficit
TRUE OR FALSE : situational factors sometimes override psychological and social issues
true
true or false : a firm assesses attractiveness of a target market and its own competencies using a SWOT analysis
true
true or false : the global population has been growing dramatically since the turn of the 20th century
true
true or false: Brazil is currently in the top ten of the world's largest economies
true
in practicing ethics, marketing researchers must ensure they produce information which is factual and
unbiased
how is information generally gathered in a survey?
using a questionnaire
which of the following is NOT a step in the consumer decision process?
value perception
a positioning strategy can help communicate the firm's or the product's (BLANK), the unique value that a product or service provides to its customers, and how it is better than and different form those of competitors
value proposition
which of these is the best example of an unstructured question?
why did you choose the car you currently drive?