MKT 350 Exam 2 Quiz Questions and Concepts

culture

-norms -subculture -consumption subculture -country of origin effects

sources of problem recognition

-out of stock -dissatisfaction -new needs or wants -related products, purchases -market-induced recognition -new products

social factors

-social network -family life cycle

the consumer decision-making process

1) problem recognition 2) information search 3) alternative evaluation 4) outlet selection and purchase 5) postpurchase process

Mattel views the toy market as composed of four age groupings, each with different needs and desires. Mattel is using a(n) ____ targeting strategy for its groups, which are known as _____. a. differentiated; market segments. b. differentiated; the marketing mix. c. concentrated market; heterogeneous. d. undifferentiated market; heterogeneous. e. undifferentiated market; market segments

a

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

a

A valid study a. portrays the population being studied. b. measures what it is supposed to. c. verifies expected results. d. results in a causal relationship between the independent and dependent variables. e. uses random sampling.

b

Age, rate of product use, location, and gender are all examples of common a. targeting strategies. b. segmentation variables. c. geographic characteristics. d. demographic variables. e. psychographic variables.

b

Institutional markets are a. intermediaries who resell goods to make a profit. b. organizations that seek nonbusiness goals. c. state or local government units. d. federal and state government units. e. consumers who buy products for their own use.

b

The focal point of all marketing activities is a. the marketing mix. b. customers. c. sales. d. profits. e. products.

b

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

b

When Jordan realizes his liquor cabinet supply was devastated by last weekend's party, he first retrieves information from his memory about what types of liquor he and his friends like most and then asks the cute clerk at the liquor store what she would recommend. Jordan started with a(n) ____ search and then progressed to a(n) ____ search. a. focused; broad b. internal; external c. self; inclusive d. consideration; evaluative e. routinized; extended

b

When working as a summer intern for a local retail store, Jan Halverson was sent to the library to look up data on population forecasts for the city of San Antonio. The population information she found would be considered a. information data from syndicated research services. b. secondary data. c. a primary database. d. secondhand data. e. primary data.

b

Why are line extensions more common than new products? a. Modifications to existing products are very easy. b. They are less expensive and lower-risk. c. They are guaranteed to succeed in the marketplace. d. They require no market research. e. They are higher risk and more expensive.

b

Cover Girl believes that sales of one of its lipstick lines have fallen due to the introduction of a new color palette. However, in order to best determine the impact of the color palette, Cover Girl should conduct _____ before proceeding with this tentative hypothesis. a. conclusive research. b. hypothesis testing. c. exploratory research. d. descriptive research. e. experimental research.

c

Often, a new product is launched in stages during commercialization. This gradual introduction of the product is known as a. regional commercialization. b. competitive jamming. c. roll-out. d. market extension. e. market development.

c

Problem recognition occurs when a consumer a. recognizes a need and evaluates for information to resolve a problem. b. is exposed to a television advertisement desired state and an actual condition. c. becomes aware that there is a difference between a desired state and an actual condition. d. evaluates her or his purchase. e. searches for information to resolve a problem.

c

When a firm designs a single marketing mix and directs it at an entire market for a particular product, the company is using a(n) ____ strategy. a. heterogeneous market b. differentiated c. undifferentiated d. single mix e. concentrated targeting

c

Which of the following is an example of a behavioristic segmentation variable? a. Personality characteristics b. Climate c. Usage rate d. Family size e. Age

c

Which one of the following buying situations would be most consistent with routine-response decision purchase behavior? a. Faisal buying his first pair of soccer cleats. b. Kayla buying a new set of tires for her car. c. Shelby buying a hamburger at her favorite restaurant, McDonald's. d. Ian buying a new fishing rod and reel. e. Alyssa buying a new computer software program.

c

A disadvantage of the concentrated targeting strategy is that a. large sales volumes cannot be generated. b. marketing costs are often higher than for other strategies. c. marketing personnel may become dissatisfied with the limited opportunities provided by this approach. d. the firm's financial condition is tied to a single and specialized marketing mix. e. production costs may be higher than with other strategies.

d

The three major types of reference groups are: a. actual, implied, and desired. b. advocacy, avoidance, and approach. c. family, peer group, and empirical. d. aspirational, disassociative, and membership. e. celebrity, membership, and aspirational.

d

Which of the following is not a requirement or characteristic of a market? a. The willingness to use buying power b. The authority to buy a product c. The need for a specific product in a specific product category d. A large number of people or organizations e. The ability to purchase a product

d

When shopping for detergent, Alexis looks at Tide, Fresh Start, Surf, and All and chooses the one that is on sale. These four brands make up her ____ set. a. purchase b. imposed c. alternate d. problem e. consideration/evoked

e

maslows hierarchy of needs

top -self-actualization -esteem -love/belonging -safety -physiological bottom