mkt exam 2

The role of a​ company's marketing information system​ (MIS) is important because​ ______________.

it enables a company to use customer insights to improve relationships with customers

Which type of market segmentation has long been used in​ clothing, cosmetics,​ toiletries, and​ magazines?

Gender

__________ refers to a prescribed number of people in each of several categories who are identified and interviewed by the researcher.

Quota sample

__________ is dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.

Market segmentation

__________ is marketing research to better describe marketing problems, situations, or markets such as the market potential for a product or the demographics and attitudes of consumers.

Descriptive research

__________ is two or more people who interact to accomplish individual or mutual goals.

a group

​H2Coast, an automobile​ manufacturer, produces​ fuel-efficient hybrid vehicles that are targeted toward​ middle-income consumer groups. H2Coast most likely segments the consumer market based on​ ________ variables.

demographic

__________ is dividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

demographic segmentation

__________ is the stage of the buyer decision process in which the consumer is motivated to locate more information.

information research

In the __________ stage, the consumer seeks information about the new product.

interest

__________ is the changes in an individual's behavior arising from experience.

learning

__________ are such things as product, price, place, and promotion and are considered part of the environment that influences the buyer's black box

marketing stimuli

Toyota allows Scion buyers to customize their cars to meet their exact needs and preferences. This is an example of​ ____________.

micromarketing

__________ are segments of the population selected for marketing research to represent the population as a whole.

samples

Your local pizzeria promises​ "Delivery in 30 minutes or less or the pizza is​ free." What point of differentiation is​ this?

service differentiation

perception Is __________________

the process by which people select, organize, and interpret information to form a meaningful picture of the world

Culture is __________.

the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions

Competitive marketing intelligence is primarily responsible for​ _____________.

the systematic collection and analysis of publicly available information

​_________ refers to the degree to which innovation appears superior to existing products.

Relative advantage

Which of the following is a social factor that influences consumer buying​ behavior?

Roles and status

Why is it important for a company to collect both primary and secondary data when conducting marketing​ research?

To have a​ "full picture" of the subject of its study

Firms that manufacture seasonal products target their consumers primarily through​ ________ segmentation.

occasion

Which kind of company would most benefit from conducting marketing​ research?

Both large multinationals like Disney and IBM and small locals truly need market research.

The __________ outlines researcher responsibilities to respondents, including confidentiality, privacy, and avoidance of harassment.

Code of Standards and Ethics for Survey Research

__________ is a group of people with shared value systems based on common life experiences and situations.

Subculture

According to the model of buyer​ behavior, what is in a​ buyer's black​ box?

The​ buyer's characteristics and the​ buyer's decision process

the first step of business buying process is __________

problem recognition

__________ is the buyer's decision about which brand to select.

purchase decision

In the adoption process, awareness is __________.

when the consumer becomes familiar with a new product but lacks information about it

________ is a descriptive thought that a person holds about something.

belief

__________ is dividing a market into different segments based on gender.

gender segmentation

Competitive marketing intelligence uses​ _________ data sources.

publicly available

__________ are information collected for the specific purpose at hand.

primary data

​_________ refers to the practice of including ethnic themes and​ cross-cultural practices within a​ company's mainstream.

A total market strategy

​Kidcomp, an American​ computer-manufacturing firm, targets children below the age of ten by providing free games and applications. The​ firm's marketing approach is reflective of​ ________ segmentation.

age and life cycle

Marketers must be careful to guard against stereotypes when using​ ________.

age and life cycle segmentation

__________ is the stage of the buyer decision process in which the consumer uses information to review different brands in the choice set.

alternative evaluation

Many companies build extensive electronic collections of consumer and market information obtained from data sources within the​ company's network. This is known as​ ___________.

an internal database

__________ are part of the buyer's black box and produce certain responses.

Buyer characteristics

​Lydia's Lights wants to extend its market into Mexico. Before jumping​ in, the company needs to conduct some​ in-depth research to gauge​ customer's needs,​ interests, and buying patterns. Which of the following is the BEST option for​ Lydia's Lights?

Send researchers​ door-to-door to collect the data from target consumers.

In which type of buying situation will a buyer usually go through all the stages of the business buying​ process?

A new task buying situation

A __________ is a specific attribute that a company chooses about a brand and touts as "number one" in regards to that attribute.

unique selling proposition

__________ is a market-coverage strategy in which a firm goes after a large share of one or a few segments or niches.

Concentrated marketing

Which of the following statements about big data is​ correct?

One result of big data is that marketing managers are often overloaded and overwhelmed with information.

A power tool company wants to give its customers access to​ internal, non-public information about how best to use its product in creative ways. What should the company create to provide customers with this​ information?

A company extranet

What is​ MIS?

A marketing information system

A colleague needs to collect descriptive data about his​ customer's attitudes. He has not done this type of research before. What research approach would you recommend to best suit this research​ project?

A survey

Byron Tied 2 Bowties groups its customers by regions in the United​ States, such as​ Midwest, Northeast, and Southwest. For each​ region, Byron Tied 2 Bowties creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its​ market?

geography

​Age, personality, buying​ style, and job position are​ ________ factors that can influence the business buying decision process.

individual

__________ is a person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea.

attitude

Secondary data are __________.

information that already exists somewhere, having been collected for another purpose

A(n) __________ refers to electronic collections of customer and marketing information obtained from data sources within the company network.

internal database

__________ is tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments.

micromarketing

__________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world.

perception

A __________ is the full mix of benefits on which a brand is positioned.

value proposition

A company can differentiate itself from competitors using symbols such as​ McDonald's golden​ arches, Twitter's​ bird, and the Nike swoosh. Which type of differentiation is​ this?

Image differentiation

__________ is tailoring products and marketing programs to the needs and preferences of particular customers.

Individual marketing

An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his​ job?

Inform customers of the​ company's privacy policy.

This adopter group is skeptical and only adopts new products after a majority of people has tried it.

Late mainstream.

__________ is tailoring brands and marketing to the needs and wants of cities, neighborhoods, and even specific stores.

Local marketing

​________ involves dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies.

Market segmenting

__________ is evaluating each market segment's attractiveness and selecting one or more segments to enter.

Market targeting

__________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Marketing research

Which of the following lists the five steps of the buyer decision process in the correct​ order?

Need​ recognition, information​ search, evaluation of​ alternatives, purchase​ decision, and postpurchase behavior.

Which of the following would make a segment less attractive to​ enter?

New entrants finding it easy to enter the segment

Consumers can obtain information from any of several sources. Which source is the most effective in that they legitimize the​ product?

Personal sources

Which of the following needs in​ Maslow's hierarchy is generally satisfied​ first?

Physiological needs

In the adoption process, __________ is when the consumer becomes familiar with the new product but lacks information about it.

awareness

__________ are a type of buyer response.

buying attitudes and preferences

A __________ is gained by offering greater customer value, either by having lower prices or providing more benefits that justify higher prices.

competitive advantage

__________ is relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors.

social class

__________ is distinguishing a market offering from other offerings in order to create superior customer value.

Differentiation

__________ is gathering primary data by observing relevant people, actions, and situations.

Observational research

__________ is dividing a market into segments according to the moments when buyers get the idea to buy, actually make their purchase, or use the purchased item.

Occasion segmentation

__________ is arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Positioning

__________ is defined by consumers on important attributes—the place the product occupies in consumers' minds relative to competing products.

Product position

__________ is gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.

Survey research

__________ is dividing a market into different age and life-cycle groups.

Age and life-cycle segmentation

Cupcakes by Cindy is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST place for this company to start to develop an efficient​ MIS?

Assess the information needs of the company.

What determines if a buyer is satisfied or dissatisfied with a​ purchase?

The relationship between the​ consumer's expectations and the​ product's perceived performance

__________ is marketing research to test hypotheses about cause-and-effect relationships.

Causal research

__________ are part of the environment that enter the consumer's black box and produce certain responses.

Economic, technological, social, and cultural stimuli

__________ is a form of observational research that involves sending trained observers to watch and interact with consumers in their "natural environments."

Ethnographic research

A competitive advantage is __________.

gained by offering greater customer value, either by having lower prices or providing more benefits that justify higher prices

In a __________ sample, the population is divided into mutually exclusive groups and random samples are drawn from each group.

stratified random

Which of the following is NOT a step in the marketing research​ process?

Comparing research findings to other studies

________ is the first stage of the buyer decision process, in which the consumer notices a problem.

need recognition

Items such as technical​ specifications, quantity, delivery​ time, return policies and warranties are included in the​ ____________.

order routine specification

__________ is dividing a market into different segments based on social class, lifestyle, or personality characteristics.

Psychographics segmentation

The website leftyslefthand.com markets products to​ left-handed consumers only. Which targeting strategy does this​ represent?

concentrated marketing

__________ is dividing a market into segments based on consumer knowledge, attitudes, uses, or response to a product.

behavioral segmentation

In a simple random sample, __________.

every member of the population has a known and equal chance of selection

In a​ _________, the​ business-to-business buyer reorders something without modifications.

straight rebuy

Income segmentation is __________.

dividing a market into different income groups

Geographic segmentation is __________.

dividing a market into different units such as nations, states, regions, counties, cities, or even neighborhoods

In the __________ stage, the consumer considers whether trying the new product makes sense.

evaluation

​______________ is the first stage in the new product adoption process.

Awareness

Which of the following types of marketing involves creating opinion leaders to serve as brand ambassadors to spread the word about a​ company's products?

Buzz marketing

A company is conducting market research to determine the best areas to sell its product. It has already determined its research questions. What is the next step of this​ company's research​ plan?

Collect the data.

__________ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.

Competitive marketing intelligence

Which of the five characteristics identified in the text has an inverse relationship with an​ innovation's rate of​ adoption? As this characteristic​ increases, the rate of adoption is slower.

Complexity

Sky owns a small hot air balloon company in​ Albuquerque, New Mexico. He recently started a Facebook page for his company and many of his customers are asking for​ store-sponsored hot air balloon trips. They believe​ Sky's expertise would make him the perfect guide. Sky decides to host quarterly hot air balloon trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be drawn from​ Sky's situation?

Customer insights can provide valuable information to a small businesses.

What is the nature of demand in business​ markets?

Demand in business markets is derived demand.

__________ is gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses.

Experimental research

__________ is marketing research to gather preliminary information that will help define problems and suggest hypotheses.

Exploratory research

​________ segmentation calls for dividing the market into different​ nations, regions,​ states, counties,​ cities, or even neighborhoods.

Geographic

Which of the following statements regarding the business market is​ correct?

Many sets of business purchases are made for one set of consumer purchases.

What is the first step of the buyer decision​ process?

Need recognition

Which of the following BEST describes the research​ relationships?

Observation is best suited for exploratory​ research, surveys for descriptive​ research, and experiments for causal research.

Which of the following is a personal factor that influences a​ consumer's buying​ behavior?

Occupation

Which of the following statements about online research is​ correct?

Online surveys generally have higher response rates than those conducted by mail or phone.

​__________ show consumer perceptions of their brands versus those of competing products on important buying dimensions.

Perceptual positioning maps

​______ consists of arranging for a market offering to occupy a​ clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Positioning

At one​ time, Miller Beer was known as the​ "champagne of bottled​ beer." It was targeted at an elite class of customers.​ Later, to increase​ sales, Miller was repositioned to attract members of the​ working, middle-class. What is this segmentation method​ called?

Psychographic

Which of the following is a variable used to segment consumer buyers that is not used to segment business​ buyers?

Psychographics

Which of the following would be good advice for someone that is conducting marketing research in a foreign​ country?

Reaching respondents in other parts of the world is more difficult than it is in the U.S.

Which of the following BEST describes the purpose of the customer insights​ team?

To create more value for customers

Buying attitudes and preferences are __________.

a type of buyer response

One problem with​ business-to-business e-procurement is that it​ _______.

can erode​ long-standing customer-supplier relationships

Socially responsible target marketing would classify which of the following as an especially vulnerable target market for harmful or controversial​ products?

children

In a __________ sample, the population is divided into mutually exclusive groups and the researcher draws a sample of the groups to interview.

cluster

​Heeltoe, a boutique that caters to the footwear needs of​ women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of​ affluent, middle-aged​ women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on​ ________ variables.

demographic

You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In​ exchange, you receive a small payment. You are participating in​ a(n) ________.

focus group interview

When marketers want to promote their products and services through​ word-of-mouth marketing​ programs, they typically begin by​ ________.

generating​ person-to-person brand conversations

To develop needed​ information, marketing information systems utilize​ _________.

internal​ databases, marketing​ intelligence, and marketing research

Grocers in neighborhoods with a large Hispanic population typically carry more brands that Hispanic consumers prefer than grocers in other neighborhoods. This is an example of​ ________.

local marketing

​_______ consists of the analysis​ tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.

marketing analytics

A(n) __________ is people and processes dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights.

marketing information system

​_________ is NOT a characteristic important in influencing an​ innovation's rate of adoption.

motivation

If competitors cannot easily copy the benefit a company chooses to​ promote, that benefit is said to be​ _________.

preemptive

Dividing buyers into groups based on social​ class, lifestyle, or personality characteristics is called​ ________ segmentation.

psychographic

The marketing manager at​ Arbor's Delicatessen targets customers who are working to lose weight but who still want to dine out. The restaurant chain offers a wide variety of​ low-fat, low-calorie meals that appeal to dieters.​ Arbors' approach is best referred to as​ ________ segmentation.

psychographic

A purse​ company's ads feature the members of a popular housewives reality show. Product sales increase significantly among the fans. From the​ fans' viewpoint, the housewives reality show is​ a(n) _____.

reference group

A researcher must always evaluate secondary information​ carefully; however, the researcher does not need to ensure the evaluation is​ _________.

subjective

If a segment is large enough or profitable enough to​ serve, it is​ ________.

substantial

All the people involved in the buying decision in an organization are collectively known as​ _______.

the buying center

need recognition is ____________

the first stage of the buyer decision process, in which the consumer notices a problem

Customer insights are __________.

the fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships

Any contact between a customer and a company is called​ a(n) _________.

touch point

Many marketers think that companies should aggressively promote only one benefit to the target market. The benefit promoted is known as​ a(n) ________.

unique selling proposition