Bus 134a Chapter 1

Which of the following is NOT evaluated when analyzing a company's own ability to meet customer needs? A) competitors B) financial strengths C) general managerial skills D) production capabilities E) reputation

A) competitors

Which of the following is NOT a step in market segmentation? A) setbudget B) identify product-related need sets C) group customers with similar need sets D) describe each group E) select an attractive segment(s) to serve

A) setbudget

Which of the following is NOT an application of consumer behavior? A) marketing strategy B) human resource management C) regulatory policy D) informed consumers E) social marketing

B) human resource management

Why is China very attractive to marketers around the world?

Because of its massive population, rising income, and emerging youth market.

Tacoda Systems tracks consumers' online activity and delivers specific banners based on that activity. This tracking and ad delivery system has been installed on almost 3,000 Web sites, and advertisers pay on a pay-for-performance basis, which means that advertisers pay Tacoda Systems only when a consumer clicks on their ad. The tracking of online activity and delivery of ads based on that activity is called _____.

Behavioral targeting

Tracking consumers' online activity and delivering specific banner ads based on that activity is known as _____.

Behavioral targeting

How can an organization provide superior customer value to customers?

By doing a better job of anticipating and reacting to customer needs than the competition does.

Which of the following is a component of a market analysis? A) market segmentation B) objectives C) conditions D) price E) all of the above

Conditions

Harold is tasked with developing the marketing strategy for his family's business. What should he do first?

Conduct a market analysis

Jamie is developing a thorough understanding of his company's own capabilities, the capabilities of current and future competitors, the consumption process of potential customers, and the economic, physical, and technological environment in which these elements interact. Which step in the marketing strategy process is Jamie performing?

Conducting a market analysis

Marketing strategy begins with _____.

Conducting a market analysis

One primary function of Harriet's job is to study individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of her company's products and services to satisfy needs and the impacts that these processes have on the consumer and society. Harriet works in the field of _____.

Consumer behavior

_____ is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

Consumer behavior

Most economically developed societies are legitimately referred to as _____ societies.

Consumption societies

Laurie saved for six months to have enough money to buy a new designer outfit to wear to a special party. She had to travel to a larger city to purchase this outfit, but it was worth it to her because it made her feel beautiful and confident. The difference between the benefits Laurie perceived from this purchase and the cost to her to acquire these benefits describes her _____.

Customer value

The difference between all the benefits derived from a total product and all the costs of acquiring those benefits is known as _____.

Customer value

Which of the following is NOT true regarding consumer behavior? A) Organizations are applying theories and information about consumer behavior on a daily basis. B) It is often necessary to conduct research. C) Consumer behavior is a complex, multidimensional process. D) The overall model of consumer behavior presented in the text is accurate in predicting consumer behavior. E) Marketing practices designed to influence consumer behavior involve ethical issues that affect the firm, the individual, and society.

D) The overall model of consumer behavior presented in the text is accurate in predicting consumer behavior.

Which of the following is used to describe a group of consumers with similar needs sets? A) demographics B) lifestyles C) media usage D) a and b E) a, b, and c

E) a, b, and c

Which of the following is a key aspect regarding consumer behavior? A) Organizations are applying theories and information about consumer behavior on a daily basis. B) It is often necessary to conduct research. C) Consumer behavior is a complex, multidimensional process. D) Marketing practices designed to influence consumer behavior involve ethical issues that affect the firm, the individual, and society. E) all of the above

E) all of the above

Which of the following is used by firms to influence consumers? A) ads B) packages C) store environments D) sales pitches E) all of the above

E) all of the above

Carlos is attempting to segment the market for his company's products. Where should he begin?

Identify product-related need sets

What is the first step in market segmentation?

Identify product-related need sets

Describing each group

Identifying product-related need sets

_____ are small, convenient, open-air retailing complexes laid out to evoke the small- town shopping districts of previous generations.

Lifestyle centers

A portion of a larger market whose needs differ somewhat from the larger market is referred to as a(n) _____.

Market segment

Smaller women like to purchase fashionable clothes just as much as any women. However, most clothes are not proportioned for their smaller size and do not fit well. As a result, several manufacturers offer "petite" sizes of clothing for this group of consumers. Women who comprise this group have needs that differ somewhat from the total market and represent a _____.

Market segment

As part of developing your company's marketing strategy, you are tasked with analyzing the new-product capabilities, channel strength, advertising abilities, service capabilities, marketing research abilities, and market and consumer knowledge. Which aspect of your company's capabilities are you assessing?

Marketing skills

Barry is looking for a car that is dependable yet stylish enough to let others know that he has achieved a respectable status in his life and career. He also wants it to be a high-performance automobile. Dependability, status, and performance represent Barry's _____.

Need set

Which term reflects the fact that most products in developed economies satisfy more than one need?

Need set

Mia is concerned how her marketing activities will affect individual consumers as well as society at large. Mia is implementing _____.

Social marketing

_____ is the application of marketing strategies and tactics to alter or create behaviors that have a positive effect on the targeted individuals or society as a whole.

Social marketing

The segment(s) within the larger market on which an organization will focus its marketing effort is referred to as the _____.

Target market

It is critical that a firm consider value from which perspective?

The customer's

Marketing strategy is formulated in terms of the marketing mix; that is, it involves determining the product, features, price, communications, distribution, and services that will provide customers with superior value. This entire set of characteristics is often referred to as the _____.

Total product

To survive in a competitive environment, an organization must provide its target customers more _____ than is provided to them by its competition.

Value

Disney World in Orlando, FL has several theme parks, resorts, restaurants, and stores. Each is intentionally created to offer a memorable event for visitors. For example, the Wilderness Lodge is a large resort hotel on the grounds, and everything within it is made to look like log cabins and pioneer days. Even the casual restaurant has the wait staff dressed in pioneer costumes, and they put on funny little skits when they are waiting on customers. Which of the following best describes what Disney is selling?

An experience

Talbot's is a women's clothing store that offers classic fashions at a slightly premium price (i.e., a wool skirt typically costs over $100). During the process of market segmentation, Talbot's identified a group of consumers who are larger than average women yet still want stylish clothing. Further research into this segment revealed that these women tend to be between the ages of 35 and 50, are career-oriented, have a household income over $50,000, and are married with children under the age of 18 living at home. This group is also heavy users of magazines and newspapers as well as prime-time television. Which step of market segmentation does this describe?

Describing each group

Darren is conducting a market analysis for his business, and he has asked your advice on what he should be analyzing. Which of the following should he consider at this step of marketing strategy development? A) the company's own ability to meet customer needs B) competitors' capabilities and strategies C) consumers' needs D) conditions in the market E) all of the above

E) all of the above

Which of the following aspects is evaluated when determining a firm's ability to meet customer needs? A) financialcondition B) generalmanagerialskills C) production capabilities D) technologicalsophistication E) all of the above

E) all of the above

Thomas wants to gain a useable understanding of consumer behavior in order to help him become a more effective marketing manager. Which application of consumer behavior does this represent?

Marketing strategy