Marketing Exam 2

A differentiated targeting strategy is when the organization targets two or more markets by developing a single marketing mix

False

T/F crowdsourcing refers to the process of taking tasks usually performed by a marketer or researcher and outsourcing them to a crowd, or potential market, through an open call

True

T/F high involvement products tend to be those that are expensive and visible to others

True

T/F A market segment profile customers with an understanding of how a business can use its capabilities

False

T/F A social class is a closed aggregate of individuals with similar social ranking

False

T/F An information search, once complete, should identify for the buyer the one brand that he or she views as the best alternative

False

T/F Coca-Cola would be able to use a customer forecasting survey to forecast future sales effectively

False

T/F Dissatisfaction may occur shortly after a purchase; this is called cognitive dissatisfaction

False

T/F If a person's interest in the product category is ongoing and long term, it is referred to a as situational involvement

False

T/F Marketers can control the perception of potential buyers

False

T/F People determine their own lifestyles, but marketers can shape them

False

T/F Secondary data or data collected from inside the organization; primary data are those collected from outside the organization

False

T/F Survey and observation are considered secondary data collection techniques

False

T/F The first step of the target market selection process is identifying the appropriate targeting strategy; the last step is evaluating relevant market segments

False

T/F the terms of sale (price, delivery, credit arrangements) are negotiated during the evaluation of alternatives stage of the consumer decision-making process

False

T/F A market is a group of people who, as individuals, have needs for products in a product class and have the ability, willingness, and authority to purchase such products

True

T/F Customer advisory boards are small groups of actual customers who serve as sounding boards for new product ideas an offer insights into their feelings and attitudes toward a firms products, pricing, and other elements of marketing strategy

True

T/F Descriptive research can be used to better understand the characteristics of certain phenomena to solve a particular problem

True

T/F Motivation can affect the direction and intensity of behavior

True

T/F One condition for effective segmentation is that at least one segment must have substantial profit potential

True

T/F Problem recognition speed can vary from quite rapid to very slow

True

T/F Segmentation variables are characteristics of individuals, groups, or organizations in a total market

True

T/F Statistical interpretation focuses on what is typical or what deviates from the average

True

T/F Telephone surveys allow an interviewer to gain rapport with respondents and to ask probing question

True

T/F The four fundamental survey methods used to obtain data in marketing research are telephone surveys, mail surveys, online surveys, and personal interviews

True

T/F The four requirements of a market are that the individuals in the market must have a need for the product and the ability, willingness, and authority to buy it

True

T/F When a buyer receives information that is inconsistent with his or her beliefs, the buyer may distort the information to bring it more in line with those beliefs

True

T/F When evaluating the alternatives, the buyer rates and eventually ranks the brands in the consideration set

True

Micromarketing is a. focusing precise marketing efforts on very small geographic markets b. developing a very specific marketing mix that will effectively meet the needs of only a small segment of the market c. marketing efforts that are tightly controlled by high-level executive in the organization d. a way to segment the market to meet the needs of individuals with the same motives and personality attributes e. creating advertising that is so specific to a certain type of individual that few people outside that micromarket will respond to the message

a. focusing precise marketing efforts on very small geographic markets

Henry's little brother Christopher joined the Boy Scouts recently. Henry notices that in addition to wearing the Boy Scout uniform, Christopher has been better about keeping his everyday clothes neat and clean, has been searching online for camping gear, and has become interested in "green" products. Henry believes that the Boy Scouts are now a reference group for Christopher because he a. has taken on many of the values, attitudes, or behaviors of group members b. became a formal member of the group c. became familiar with the group's activities d. looked for information from members of the group regarding buying decisions e. cannot control his involvement with the group

a. has taken on many of the values, attitudes, or behaviors of group members

The three most widely recognized types of consumer decision making are a. limited problem solving, extended problem solving, and routinized response behavior b. extended problem solving, enduring problem solving, and situational decision making c. planned problem solving, impulse buying, and limited decision making d. internal problem solving, external problem solving, situational behavior e. responsive behavior, planned behavior, and impulsive decision making

a. limited problem solving, extended problem solving, and routinized response behavior

Marylyn now feels that her teeth are not white enough after seeing advertisements for whitening toothpaste. Marketers promote these brands based on _______ needs, appealing to sex appeal a. physiological b. esteem c. self-actualization d. psychological e. social

a. physiological

Decreasing sales, increasing expenses, or decreasing profit a. Are to be expected during the marketing research process b. Are examples of symptoms that point to larger problems c. Usually have no effect on the marketing research process d. Are important considerations in designing the research project e. Should be carefully considered before collecting data

b. Are examples of symptoms that point to larger problems

Variables such as geographic location, type of organization, customer size, and type of product usage are used to segment ______ markets a. consumer b. business c. government d. international e. institutional

b. business

When Coca-Cola initiated a telephone survey to determine the effectiveness of a recent advertising campaign, one of the questions the interviewer asked was, have you ever heard of a cola made with zero-calorie, plant-based Stevia? This is an example of which of the following kinds of questions a. open-ended b. dichotomous c. multiple-choice d. imperative e. declarative

b. dichotomous

The purpose of market segmentation is to a. differentiate products b. divide a total market to enable a marketer to develop a more precise marketing mix c. reduce the overall cost of marketing activities d. identify a single marketing mix that will be satisfactory for the general market e. meet the needs of homogeneous markets

b. divide a total market to enable a marketer to develop a more precise marketing mix

The primary advantage of a concentrated targeting strategy is a. it meets the needs of a wide range of consumers b. it allows a firm to specialize to meet specific customer needs c. it is more flexible than any other approach d. it is the least risky targeting approach e. its customers are the most willing to repurchase the same brands

b. it allows a firm to specialize to meet specific customer needs

The two basic types of sampling that marketing researchers use are a. random and nonrandom b. probability and nonprobability c. stratified and quota d. even and odd e. planned and spontaneous

b. probability and nonprobability

A consumer's buying decisions are affected in part by the people around him or her. Such people and the forces they exert on an individual buyers are called a. situational influences b. social influences c. roles d. personality influences e. cultural influences

b. social influences

Which of these statements in NOT true about business markets? a. the purchase may be made to resell the item b. the purchase is always made by more than one individual c. the purchase may be made to use in general daily operations d. the purchase may be made to use in production of another product e. they can also be referred to as organizational markets

b. the purchase is always made by more than one individual

In marketing research, a sample is best described as a. A small group that is a part of a larger group b. All the elements, units, or individuals of interest to researchers for a specific study c. A limited number of units chosen to represent the characteristics of a total population d. A group that shares a common attribute within a population e. A small portion of a product offered to consumers to try a new product

c. A limited number of units chosen to represent the characteristics of a total population

Primary data are best described as the a. First batch of data collected for specific study b. Data that are necessary for a correct decision c. Data that are observed, recorded, or collected directly from subjects d. Data that are compiled for some purpose other than the studying question e. Data that are collected inside and outside the organization for some purpose other than the current investigation

c. Data that are observed, recorded, or collected directly from subjects

Volkswagen markets its Atlas SUV to large families, its CC to those wanting a sports coupe, and its Jetta to young singles. What targeting approach is Volkswagen using? a. concentrated b. strategic c. differentiated d. undifferentiated e. multisegmented

c. differentiated

Luke and Hayley are searching for a health club to join. This purchase will likely be affected by _____ involvement a. low b. internal c. enduring d. evoked e. perceived

c. enduring

Emily is buying furniture for her apartment for the first time. She is spending considerable time and effort comparing the products that different stores offer. Which type of decision-making process is she using? a. selective b. intensive c. extended d. limited e. routinized

c. extended

Family life cycle is most typically based on a. income b. geographic location c. marital status and age of children d. occupation e. buying power

c. marital status and age of children

______ data yields information that can be communicated through numbers or metrics a. exploratory b. qualitative c. quantitative d. conclusive e. experimental

c. quantitative

Marketers help consumers learn through free samples, sometimes coupled with coupons, to reduce purchase risk, through a practice called a. framing b. advertising c. shaping d. perceptual mapping e. closure

c. shaping

Which of the following buying situations is most consistent with routinized response behavior? a. Ian buying his first pair of basketball shoes b. Molly buying a new set of tires for her car c. Aaron buying a new fishing rod and reel d. Stephanie buying bottled water e. Bryan buying a new software program

d. Stephanie buying bottled water

A survey question that requires a yes or no answer is call a a. qualifier b. multiple-choice question c. 50-50 question d. dichotomous question d. bimodal question

d. dichotomous question

Subscription services from firms such as IRI, which tracks consumer purchases, provide marketing researchers with a good source of _______ data a. census b. statistical c. internal secondary d. external secondary e. primary

d. external secondary

An attitude scale measures the a. strength of a buyer's need for a product b. buyer's level of information about a product c. amount of experience the buyer has had with the product d. intensity of a buyer's feelings toward a certain object e. intensity of a buyer's desire for the product

d. intensity of a buyer's feelings toward a certain object

Maslow's hierarchy of needs refers to the five levels of needs that humans seek to satisfy, from most to least basic to survival. These needs, in order form most to least basic to survival are a. psychological, physiological, safety, social, and esteem b. physiological, safety, esteem, social, and self-actualization c. physiological, psychological, safety, social, and esteem d. physiological, safety, social, esteem, self-actualization e. physiological, esteem, safety, self-actualization, and psychological

d. physiological, safety, social, esteem, self-actualization

The five categories of situational influences are a. products involvement level, physical surrounds, social surroundings, time perspective, and purchase reason b. antecedent states, physical surrounding, social surrounds, time perspective, and space dimensions c. social surroundings, physical surroundings, time pressures, purchase reason, and lifestyles d. purchase reason, time perspective, social surroundings, physical surroundings, and buyer's momentary mood e. store atmosphere, location, aromas, sounds, and lighting

d. purchase reason, time perspective, social surroundings, physical surroundings, and buyer's momentary mood

The three major categories of influences on the consumer buying decisions process are a. situational influences, demographic influences, and psychological influences b. social influences, situational influences, and marketer-dominated influences c. demographic influences, situational influences, and marketer-dominated influences d. situational influences, social influences, and psychological influences e. marketer-dominated influences, psychological influences, and person-specific influences

d. situational influences, social influences, and psychological influences

Which of the following products is most likely to be marketed using an undifferentiated approach? a. bicycle b. computer c. notebook d. table salt e. oscillating fan

d. table salt

Which of the following is the most appropriate for a qualitative research projects for a small targeted group? a. telephone surveys b. focus-group interviews c. personal interview surveys d. telephone depth interview e. mail survey

d. telephone depth interview

Which of the following statements about the undifferentiated targeting strategy is false? a. the undifferentiated targeting strategy should be used when the needs of individual customers are similar b. the undifferentiated targeting strategy uses one promotional program aimed at everyone in the target market c. the undifferentiated targeting strategy is good for use with staple items, such as sugar and salt d. the undifferentiated targeting strategy uses multiple distribution systems to best reach individuals in the target market e. the opposite of the undifferentiated targeting strategy is the differentiated targeting strategy

d. the undifferentiated targeting strategy uses multiple distribution systems to best reach individuals in the target market

Problem location and definition is the first step toward finding a solution to a marketing problem or launching a research study. The first sign of a problem a. Involves an informed guess or assumption about a certain set of circumstances b. Is usually accompanied by a cost benefit analysis c. Most often comes in the form of customer complaint d. Is often mentioned in secondary data reports, such as trade journals e. Is typically a departure from some normal function, such as a failure to attain objectives

e. Is typically a departure from some normal function, such as a failure to attain objectives

Graff's markets its exclusive jewelry and gifts to high-income individuals interested in high-quality products and a well-known brand name. It uses the same marketing mix to reach this market. Graff's uses a(n) _________ strategy a. undifferentiated b. differentiated targeting c. exclusive targeting d. heterogeneous e. concentrated targeting

e. concentrated targeting

You are shopping for a laptop or tablet to use for taking notes, research, and studying. In this case you belong to a(n) a. concentrated market b. business market c. B2B market d. industrial market e. consumer market

e. consumer market

Joann and Rachel are searching for an apartment. They will most likely engage in which one of the following forms of decision making? a. intensive response behavior b. limited decision making c. impulse buying d. routinized response behavior e. extended decision making

e. extended decision making

The most significant factor influencing a buyer's level of involvement is a. cognitive dissonance b. social media c. product attributes d. price e. risk

e. risk

All of the following are steps in the marketing research process except a. collecting data b. interpreting research findings c. designing the research project d. reporting research findings e. understanding your customer

e. understanding your customer

To find a target market, a firm can use one of these targeting strategies a. total market strategy and the undifferentiated strategy b. product differentiation strategy and the customer differentiation strategy c. demographic strategy and the psychographic strategy d. socioeconomic strategy and the psychological strategy e. undifferentiated strategy, the concentrated strategy, and the differentiated strategy

e. undifferentiated strategy, the concentrated strategy, and the differentiated strategy