Marketing Exam 2

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

Children

__________ is the practice of using the established brand names of two different companies on the same product.

Co-branding

A product line is __________.

a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges

Buying attitudes and preferences are a type of __________.

buyer response

Brand positioning __________.

can be done at three levels: product attributes, benefits, and beliefs and values

One factor influencing adoption is​ ________, which is the degree to which the new product fits the values and lifestyle of consumers.

compatibility

All the individuals and households that buy or acquire goods and services for personal consumption are known as the​ ________ market.

consumer

Social class is a type of​ ________ characteristic that influences consumer buying behavior.

cultural

Product position is __________.

defined by consumers on important attributes

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

Market targeting is __________.

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

Consumers go through five stages in the process of adopting a new product. In the​ ________ stage, the consumer considers whether trying the new product makes sense.

evaluation

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

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

interest

TQM __________ .

is an approach in which all the company's people are involved in constantly improving the quality of products, services, and business processes

A service profit chain __________.

links service firm profits with employee and customer satisfaction

In demographic segmentation, __________.

marketers divide the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation

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

occasion

Marketers of brands understand that they must figure out how to reach​ ____________ that can exert social influence on others.

opinion leaders

Countries can be segmented by __________ such as the type and stability of government, receptivity to foreign companies, monetary regulations, and amount of bureaucracy.

political and legal factors

The buyer makes the fewest decisions in the​ ________ and the most in the​ ________ decision.

straight​ rebuy; new task

The customer journey concept​ ________.

takes a holistic view of all the experiences a consumer has with a brand

An unsought product is a consumer product __________.

that the consumer either does not know about or knows about but does not normally consider buying

In the evaluation stage, __________.

the consumer considers whether trying the new product makes sense

Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as​ __________.

market segmenting

Through its mobile Whopper Detour​ promotion, Burger King offered discounted Whoppers to people close to a competing​ McDonald's restaurant. This is an example of which of the​ following?

Hyperlocal social marketing

__________ is expanding an existing brand name to new product categories.

A brand extension

What is a straight rebuy?

A business buying situation in which the buyer routinely reorders something without modifications

What is a modified rebuy?

A business buying situation in which the buyer wants to change product specifications, prices, terms, or suppliers

Which of the following is the correct definition of a​ product?

A product is anything that can be offered to a market for​ attention, acquisition,​ use, or consumption that might satisfy a want or need.

User​ status, usage​ rate, and loyalty status are examples of which type of segmentation​ variable?

Behavioral segmentation

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

Behavioral segmentation

__________ is the differential effect that knowing the brand name has on customer response to the product or its marketing.

Brand equity

When a company builds a​ brand, it needs to make important strategic decisions regarding the brand. Of the​ following, which is NOT one of those​ decisions?

Brand licensing opportunities

__________ can be done at three levels: product attributes, benefits, and beliefs and values.

Brand positioning

Which of the following correctly describes the classifications into which consumer products​ fall?

Convenience, shopping,​ specialty, unsought (CSSU)

_______ demand is the term used for business demand that ultimately comes from the demand for consumer goods.

Derived

Which type of​ market-coverage strategy involves targeting several market segments and designing separate offers for​ each?

Differentiated marketing

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

Differentiation

__________ is a characteristic important in influencing an​ innovation's rate of adoption and described by the degree to which the innovation may be tried on a limited basis.

Divisibility

Which of the following is NOT one of the typical advantages of​ e-procurement systems?

Improving​ customer-supplier relationships

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

Individual marketing

Which of the following correctly defines the consumer​ market?

Individuals and households that buy goods and services for personal consumption

Which adopter group is first to adopt a new​ product?

Innovators

Successful service marketing depends on external marketing using the four Ps. Service marketing today also requires which two nontraditional marketing​ approaches?

Internal and interactive

Marketers must make important decisions when developing individual products and services. Which of the following correctly identifies those important​ decisions?

Product​ attributes, branding,​ packaging, labeling and​ logos, and product support services

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

Subculture

________ segments are large or profitable enough to serve.

Substantial

Marketers need to understand and know four major influences on business buyer behavior. Which of the following is NOT one of those​ influences?

Supplier selection

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

The information search

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

The purchase decision

A unique selling proposition is __________.

a specific attribute that a company chooses about a brand

Kidcomp, an American​ computer-manufacturing firm, targets children younger than age 10 by providing free games and applications. The​ firm's marketing approach is reflective of​ ________ segmentation.

age and​ life-cycle

What are the eight steps in the business buying decision​ process, in the correct​ sequence?

Problem​ recognition, general need​ description, product​ specification, supplier​ search, proposal​ solicitation, supplier​ selection, order-routine​ specification, and performance review

The type of segmentation that forms segments of consumers who have similar needs and buying behaviors even though they are located in different countries is known as​ _________.

intermarket segmentation

Technology advances have made​ B-to-B online purchasing possible. This is called​ ________.

​e-procurement

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

Concentrated marketing

What are the five steps in the buyer decision​ process, in​ order?

Need​ recognition, information​ search, evaluation of​ alternatives, the 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

A belief is __________.

a descriptive thought that a person holds about something

Psychographic segmentation divides a market into __________.

different segments based on social class, lifestyle, or personality characteristics

When a company engages in​ ________marketing it ignores market segment differences and targets the whole market with one offer.

mass

The type of segment characteristic in which the​ size, purchasing​ power, and profiles of the segments can be quantified is known as​ __________.

measurable

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

Micromarketing

Which value proposition offers not only higher​ quality, but also confers prestige upon the​ buyer?

More for more

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

Need recognition

Which of the following terms does NOT mean tailoring products and marketing programs to the needs and preferences of individual​ customers?

Niche marketing

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

Perception

__________ 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

The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in this​ process?

Problem recognition

_________ is one problem with​ business-to-business e-procurement.

Suppliers being pitted against one another

___________ consists of many different people who play multiple roles in the buying process.

The buying center

What is learning?

The changes in an individual's behavior arising from experience

__________ determines if a buyer is satisfied or dissatisfied with a purchase.

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

An industrial product is a product __________.

bought by individuals and organizations for further processing or for use in conducting a business

When a company segments a market by common languages, religions, values and attitudes, customs, and/or behavioral patterns, it is segmenting by __________.

cultural factors

Which of the following is NOT a psychological factor influencing consumer buying​ behavior?

self-concept

Need recognition is __________.

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

Product mix​ ________ refers to the number of different product lines the company​ carries, while product mix​ ________ refers to the total number of items a company carries within its product lines.

​width; length

__________ is the set of all products and items that a particular seller offers for sale.

A product mix

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

A social class

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

Alternative evaluation

Mavis loves her new iPhone but wonders if a Samsung Note would have offered more benefits. This is an example of which of the​ following?

Cognitive dissonance

Which of the following is NOT among the major factors influencing consumer buying​ behavior?

Commercial

Consumers obtain information from numerous sources. Which of the following involves dealer and manufacturer​ websites, packaging, and​ displays?

Commercial sources

Which of the following refers to the degree to which an innovation fits the values and experiences of potential​ consumers?

Compatibility

​Technological, political, and competitive influences are categorized as which type of major influence on business buyer​ behavior?

Environmental

In 2015 Target eliminated its​ "pink" and​ "blue" aisles, and it now sells lines such as a collection of​ back-to-school clothing,​ accessories, backpacks, and bedding that appeals to both boys and girls. This is an example of which type of​ marketing?

Gender-neutral

Which stage of the business buying decision process involves ranking the importance of​ reliability, durability, and​ price?

General need description

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

Geographic

Which of the following are​ tradition-bound, suspicious of​ changes, and adopt the innovation only when it has become something of a tradition​ itself?

Lagging adopters

What are the four strategies marketers can use to develop their​ brands?

Line​ extensions, brand​ extensions, multibrands, and new brands

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

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

__________ 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

Which of the following describes the process of evaluating each market​ segment's attractiveness and selecting one or more segments to​ serve?

Market targeting

__________ 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

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

__________ means that services are produced and consumed at the same time and cannot be separated from their providers.

Service inseparability

__________ means that services cannot be stored for later sale or use.

Service perishability

__________ means that the quality of services depends on who provides them and when, where, and how they are provided.

Service variability

Amazon is now promising​ same-day pick-up of goods as well as local secure​ pick-up points. What point of differentiation is​ this?

Services differentiation

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

The​ buyer's characteristics and decision process

According to​ Maslow's hierarchy, which of the following needs would a person seek to satisfy​ first?

Thirst

A store brand is __________.

a brand created and owned by a reseller of a product or service

Brand name selection begins with __________.

a careful review of the product and its benefits, the target market, and proposed marketing strategies

An attitude is __________.

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

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

awareness

A specialty product is a __________ .

consumer product with unique characteristics of brand identification for which a significant group of buyers is willing to make a special purchase effort

A(n) __________ is a consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort.

convenience product

Geographic segmentation is __________.

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

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

local marketing

Brand sponsorship includes __________.

manufacturer's brands, private branding, licensing, and co-branding

Using intermarket segmentation, __________.

marketers form segments of consumers who have similar needs and buying behaviors even though they are located in different countries

A manufacturer of​ half-ton pickup trucks creates a positioning map for the U.S.​ half-ton pickup market. The position of each circle on the map indicates the​ brand's perceived positioning on two​ dimensions: price and orientation​ (economy versus​ performance). The size of each circle indicates the​ brand's relative market share. This is an example of a​ __________.

perceptual positioning map

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

preemptive

When luxury audio brand Bose positions its products on the​ innovative, high-quality listening experiences it gives users this exemplifies​ ________ differentiation.

product

H2Coast, an automobile​ manufacturer, produces​ fuel-efficient hybrid vehicles that are targeted toward​ high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on​ ________ variables.

psychographic

The marketing manager at Only Organic Delicatessen targets customers who are focused on​ organic, healthy food choices but who still want to dine out. The restaurant chain offers a wide variety of​ organic, low-fat, locally raised produce and foods. Only​ Organic's approach is best referred to as​ ________ segmentation.

psychographic

E-procurement refers to __________.

purchasing through electronic connections between buyers and sellers—usually online.

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

reference group

Companies use​ ________ to put their​ B-to-B purchasing requests online and invite suppliers to bid for the business.

reverse auctions

Occasion segmentation divides a market into __________.

segments according to moments when buyers get the idea to buy, actually make their purchase, or use the purchased item

Services are characterized by four key​ aspects: ______________.

services are​ intangible, inseparable,​ variable, and perishable

A __________ is usually compared, by consumers, on such attributes as suitability, quality, price, and style.

shopping product

Product quality is __________.

the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs

Culture is known as __________.

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

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

value proposition

What are the five stages of the consumer adoption​ process, in the correct​ sequence?

​Awareness, interest,​ evaluation, trial, and adoption