GB 350 Final Exam Review exam 2

undifferentiated

Connect, a new wireless Internet provider, offers one level of service at the same price to all of its many potential customers, instead of developing multiple service options at different prices. What type of targeting strategy is Connect using?

procedural

Oscar is dining at his favorite restaurant in town. When he gets the bill, Oscar notices that the restaurant now has a policy that automatically charges a 15% tip on all meals. Oscar does not think it is fair for the restaurant to require all patrons to pay a fixed tip percentage. His perceptions relate to _____________________ justice.

shopping

People who "showroom" tend to sample products in physical stores and purchase them online later to get a better deal. This would be an example of which type of involvement?

Trade defcit

When Country A's imports from Country B are greater than Country A's exports to Country B, Country A is experiencing a _____________.

limited

A grocery retailer provides a "90 under $20" display in their wine section, which includes highly rated wines that are reasonably priced. The display is meant to help people, who do not usually buy or do not know much about wine, select a bottle without dedicating too much effort to the decision. Based on the lectures, which type of decision-making situation does the display seek to help with?

involvement and information research

According to the lecture, which of the following includes the BEST consistent features that distinguish among the different decision types?

economic conditions

According to the lecture, which of the following is NOT a cultural factor that international marketers must consider?

internal search

Alex wants to buy a new pair of jeans. He is trying to remember the name of the last blue jean brand he purchased, because he liked the fit. By trying to remember the brand name, Alex is engaging in _____________.

enduring; product

Athena loves her dogs. No matter what she has going on, she always ensures they are well taken care of. Because of her love for her dogs, Athena dedicates a lot of effort when selecting the best pet food and toys for them. Athena exhibits ______________ involvement with her dogs, and _____________ with the pet food and toys she purchases.

procedural justice

Brandt is about to purchase a new dining room table from an e-commerce retailer. Before checking out, he notices that the return policy requires the customer to pay for shipping on returned items. Brandt does not think it is fair for the retailer to charge customers for return shipping. His perceptions relate to _____________________ justice.

inert set

Charlene is taking her little sister to the movies and is trying to decide which movie to see. Her options include a scary movie, an animated fairytale, and a comedy. Charlene likes scary movies but believes her sister is too young to watch this one. Based on this scenario, the scary movie is in Charlene's _______.

inert set

Charlene plans to take her little sister to the movies across town because she does not know about a new theater near her neighborhood. Based on this scenario, the new theater is in Charlene's ________.i

secondary

Charles is a member of the student marketing association at a local university. The group meets at 6:00 pm on the first Monday of each month during the school year. Members are expected to come to meetings regularly, be on time, and participate in all of the association's social events. This would be an example of a(n) _________ reference group.

exporting

Elite Power Tools is a U.S.-based company that sells products to U.S., Canadian, and European customers. When international customers place orders online, Elite ships products to them from its U.S. warehouse. Which method of entering international markets is best being described by this scenario?

selective distortion

Eric and Lily just found out that the local grocery store is raising product prices. Eric believes that the retailer is raising prices to attract snobby customers. Lily thinks that the retailer was forced to raise prices because grocery product manufacturers have increased their prices in general. This scenario, in which two people alter incoming information to fit their own beliefs, is known as _______________.

promotion

Even though the chances of winning the lottery are really low (around 1 in 14 million), Jackie purchases lottery tickets each week because winning the $300m jackpot would be great. Jackie exhibits a ______________________ regulatory focus.

contract manufacturing

Feel Better, a U.S.-based pharmaceutical company, pays an independent (not owned by Feel Better) company in India to produce its medicine. The Indian company sends the finished product to Feel Better, who markets it under the Feel Better brand name. Which method of entering the international market is best described in this scenario?

true

From a marketing standpoint, experiential learning tends to have a bigger impact on customers' future behaviors than conceptual learning does.

differentiated

Happy Kids is a company that sells products and services for children. Happy Kids offers clothing for parents seeking cute children's outfits, books for parents who want to read with their children, and a meal planning subscription for parents who want to optimize their children's healthy food consumption. Happy Kids is using a(n) ________________ targeting strategy.

true

In general, the majority of demand for a marketer's products/services comes from a minority of the marketer's customer base.

Physcographics

Instead of targeting all consumers, Premiere Golf, Inc., a golfing products seller, targets only customers who enjoy the sport in their leisure time. What segmentation base did Premier Golf most likely use to divide the larger market?

external

Nature Now is a snack mix company that offers snack packs made with dried fruits and nuts. Nature Now has two competitors: Freeze-dried Fruity and Go! Snacks. Nature Now has to determine a way to stand out from the competition in a superior way in the eyes of potential customers. This is a matter of _______________ positioning.

primary

Jared joins his friends to see a movie on Friday night. Going to the movie would be an example of Jared interacting with a(n) ________________ reference group.

cognitive dissonance

Karla recently booked a trip to the Bahamas that cost a good deal of money. Although she is looking forward to the trip, she is wondering if she made a mistake to spend that much money on a trip. What concept describes what Karla is experiencing?

Preexisting Consumer Brand Beliefs

Lamps, Inc. is an e-commerce company that has always focused on selling light fixtures to customers. Realizing that the company limited its opportunities by targeting such a specialized audience, Lamps, Inc. has changed its brand name to Home Design, Inc. and plans to sell home furnishings and decorating services. Based on the lectures, why might it be difficult for Lamps, Inc. to be successful?

gray market

Lindsey wants a new Apple iPhone. She decides to purchase one from iPhones for Cheap, a seller on eBay, instead of buying a higher-priced version from Apple or its official distributors (e.g., Verizon). This purchase would be considered a(n) ____________ transaction.

dumping

Many U.S. steel sellers have asked the government to investigate Marquis, a foreign competitor in the industry. The U.S. steel sellers are accusing Marquis of ___________, or exporting products to U.S. customers at a price that is lower than prices in its own home market.

desired social self concept

Marcus changes his LinkedIn profile from a picture of him wearing casual clothing to a picture of him wearing a business suit. He does this because he wants potential job recruiters to see him as a serious professional. What self-concept is Marcus trying to achieve by changing his picture?

actual social self concept

Marcus reviews his LinkedIn profile and notices that he is wearing casual clothing in his profile picture. He is concerned that job recruiters view him as unprofessional because of his casual clothing. What self-concept describes how Marcus believes job recruiters currently see him?

percieved

Maria is planning to buy her next car from a local dealership because she expects to get great service from businesses in her home town. Expecting great service represents Maria's __________ value of the local dealership.

subjective

Max usually waits until he has one roll of paper towels left at home before he decides it is time to buy more. Marion is usually ready to restock her paper towels when she is down to two rolls. These differences illustrate that need recognition is _________________.

absolute quota

The government of Fauna placed a maximum number of 300 tons for coconut oil imports between July 1, 2020 and September 30, 2020. The government of Fauna is using a(n) _______________________ in this scenario.

routine

Whenever Max needs toothpaste, he buys the Colgate brand with whitening ingredients at a local retailer. Max does not dedicate much effort to his toothpaste purchases, and they would be considered ____________________ decision making behavior.

a salesperson for a u.s based company shakes a japanese customers hand, although the japanese custom is to bow when greeting in business meetings

Which of the following BEST reflects ethnocentrism?

personalized

Which of the following is NOT a criterion for successful market segmentation?

language

Which of the following is NOT a demographic factor that international marketers should consider?

temporal

Which of the following is NOT one of the needs in Maslow's Hierarchy of Needs?

People or organizations that have...-Needs and wants that can be satisfied by an organization's products/services-Ability to buy products/services-Willingness to buy products/services

Which of the following is characteristic of a market, based on the lectures?

Need recognition, information search, alternative evaluation, decision, post decision behavior

Which of the following represents the correct order of the consumer decision making process stages?

population density

Which of the following statements BEST represents how marketers should approach delighting customers, according to the lectures?

Hedonic

Xavier tries to go see live music as much as he can. He also enjoys discovering new local artists. What type of value does seeing live music and discovering new local artists provide to Xavier?

socialization

Zack's parents have always purchased lower-priced store brands of certain products, such as granulated sugar or cooking spices, in order to avoid spending money on premium brands that they believe are exactly the same but more expensive. As an adult, Zack purchases lower-priced store brands for this reason. The passing down of his parents values to Zack represents the process of _____________.

involvement

_______________ refers to the personal importance and resulting amount of time and/or effort a consumer invests in the search, evaluation, and decision processes of consumer behavior.

exchange rate

_______________ refers to the value of one nation's currency expressed in the form of another nation's currency.

cannibalization

____________________ is a risk associated with differentiated/multi-segment targeting that occurs when customer demand shifts from one marketer's product to another of the same marketer's products instead of generating additional/incremental revenues.