marketing final ch. 6,7,8,11 quiz

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

A

According to the text, a product is defined as A) anything the customer receives in an exchange B) the physical object the customer receives in an exchange C) the service that is rendered to a customer D) the idea that the customer receives in an exchange

A

Stacy is going to the store to buy milk and cereal. She will most likely use ____ in her consumer decision-making process. A) Routine response behavior B) limited decision making C) extended decision making D) perceptual scanning E) evaluation of alternatives

A

Which of the following is not a stage in the buyer's product adoption process? A) Awareness B) Adoption C) Trial D) Exploration E) Interest

D

Abercrombie & Fitch is developing a program to get to know its customers. Which of the following is not a reason why A&F needs to understand consumer buying behavior? A) customer's reactions to marketing strategy can impact the firm's success B) all customers are the same when it comes to buying behavior C) a firm should create a marketing mix that satisfies customers D) it helps the marketer predict how consumers will respond to marketing strategies E) the marketing concept stresses that a firm should know its customers

B

After purchasing a new Lexus, Brandon sees an Infinity pass by on the street and begins to wonder if he made the right choice. Brandon is experiencing A) problem recognition B) cognitive dissonance C) internal search D) alternative evaluation E) framing.

B

An individual moves into the adoption stage of the product adoption process at the point when he or she A) is self-motivated to get information about the product B) begins using that specific product C) seriously considers whether the product will satisfy his or her needs D) experiences the product for the first time E) becomes aware that the product exists

B

Extended decision making is the type of consumer decision-making process that A) involves no conscious planning but rather a powerful and persistent urge to buy something B) is the most complex decision making behavior, which comes into play when a purchase involves unfamiliar, expensive, or infrequently bought products C) requires a moderate amount of time for information gathering and search D) is the creation and maintenance of a collection of products that satisfy a person's needs and wants E) requires very little search-and-decision effort and is practiced when buying low-cost and frequently purchased products.

B

Systems such as PRIZM and Acorn provide companies with lifestyle and demographic information about neighborhoods throughout the United States. This information is used to aid A) behavioristic segmentation B) geodemographic segmentation C) market density analysis D) demographic segmentation E) geographic segmentation.

B

The five major stages of the consumer buying decision process, in order, are A) information search, establishment of product criteria, evaluation of alternatives, purchase, and postpurchase evaluation B) problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation C) problem recognition, information search, evaluation of alternatives, postpurchase evaluation and purchase D) information search, evaluation of alternatives, purchase, trial adoption period, and postpurchase evaluation E) problem recognition, purchase, evaluation of alternatives, postpurchase evaluation, and rebuy.

B

Variables such as geographic location, type of organization, customer size, and type of product usage are used to segment ____ markets. A) Consumer B) business C) government D) international E) most target

B

Which of the following products is most likely to have its market segment based on age? A) Nike shoes B) Lipton Iced Tea C) Bic pens D) Legos E) Carpet

D

Business markets are typically divided into four categories. These categories are A) retailers, wholesalers, services, and nonprofit firms B) producer, manufacturer, reseller, and government C) producer, reseller, government, and institutional D) manufacturer, wholesaler, retailer, and services E) reseller, retailer, government, and institutional

C

Consumers tend to remember information inputs that support their feelings and beliefs and forget inputs that do not. This is known as selective A) exposure B) distortion C) retention D) information E) organization.

C

Having used both Secret and Sure deodorants, Annette feels that Secret is a good product and the one that best meets her needs. She has formed a (n) ____ about Secret. A) Motive B) consideration set C) cognition D) attitude E) self-concept

D

In business markets, individuals or groups purchase products for one of three purposes. These purposes are A) resale, wholesale, and direct use B) wholesale, direct use, and use in producing other products C) resale, wholesale, and use in producing other products D) resale, direct use in producing other products, and use in general daily operations E) use in general daily operations, wholesale, and resale.

D

Jason owns a small landscaping business called GreenScapes. When buying a new pickup truck for his landscaping business, Jason negotiated with Palmetto Dodge, a dealer, with the agreement that GreenScapes would be the service company Palmetto Dodge used for all of its landscaping needs. This is an example of A) a new task purchase B) a straight rebuy C) a modified rebuy D) reciprocity E) a straight purchase.

D

Marketers use many factors, including occupation, educational level, income, wealth, religion, race, ethnic group, and possessions, to group people into A) family types B) geographic regions C) reference groups D) social classes E) attitudinal segments.

D

The Pillsbury Company defines all individual consumers who are purchasers of flour as its target market. It also defines all businesses who purchase flour as its target market. What targeting strategy would be most appropriate in this case? A) Concentrated B) Undifferentiated C) wide appeal D) Differentiated E) Clustered

D

The four major stages of a product life cycle include A) prosperity, recession, depression, and recovery B) specialty, convenience, shopping, and unsought goods C) decline, stabilization, exposure, and growth D) introduction, growth, maturity, and decline E) awareness, interest, trial, and adoption

D

Individuals and business organizations that buy finished goods and resell them to make a profit without changing the physical characteristics of the product are classified as ____ markets. A) Consumer B) institutional C) producer D) government E) reseller

E

Minerals, chemicals, timber, and agricultural products are considered A) process materials B) accessory materials C) MRO supplies D) component parts E) raw materials

E

Most markets for products are made up of individuals or groups with diverse needs for products and are called ____ markets. A) Undifferentiated B) concentrated C) homogenous D) differentiated E) heterogeneous

E

Segmentation variables are usually grouped into four categories: A) demographic, geographic, religion, and income B) geopolitical, income, behavioristic, and psychographic C) attitudes, lifestyles, behaviors, and gender D) geographic, demographic, psychographic, and attitudes E) demographic, geographic, psychographic, and behavioristic.

E

Weyerhaeuser is evaluating its complete product mix. It wishes to decrease some of its marketing expenditures and streamline its product offerings. Weyerhaeuser will most likely look at products in the ____ stage of the product life cycle as possibilities for elimination. A) not yet developed B) growth C) introduction D) maturity E) decline

E

What is a primary difference between business and consumer buyers? A) Consumer buyers require more product information than business buyers B) Business purchases are made by one individual whereas families make consumer purchases together C) Repeat sales are more common with consumer buyers than business buyers D) Consumers primarily buy inexpensive items; businesses only buy expensive items E) Business buyers generally make larger orders than consumer buyers.

E

Convenience products are A) relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort B) frequently purchased items for which buyers are willing to exert considerable effort C) frequently purchased items that are found in certain retail outlets D) items that are expensive but are easy to purchase E) items that require some purchase planning and for which the buyer often will not accept substitutes.

A

The stages of the business buying decision process, in order, are A) recognizing the problem, establishing product specifications, searching for products and evaluating possible suppliers, selecting suppliers and products, and evaluating performance B) recognizing the problem, searching for products and evaluating possible suppliers, selecting suppliers and products, establishing product specifications, and evaluating performance C) recognizing the problem, selecting suppliers and products, evaluating performance, establishing product specifications, and searching for substitute products D) establishing product specifications, recognizing the problem, searching for products, evaluating possible products and suppliers, selecting suppliers and products, and evaluating performance E) establishing product specifications, searching for products, selecting suppliers and products, evaluating performance, recognizing the problem, and evaluating possible products and suppliers.

A

Which of the following is NOT a characteristic of a consumer market? A) It consists of purchasers who intend to consume or benefit from the purchased products B) they buy products for the main purpose of making a profit C) they are sometimes referred to as B2C markets D) their purchasing decisions are always made by only one individual

B

Changing people's attitudes toward a firm and its marketing program is A) simple when advertisements are used B) impossible, even if the firm uses advertisements C) a long, expensive, and difficult task that may require extensive advertising campaigns D) unnecessary, since consumer attitudes are of little importance E) rarely attempted through the use of marketing practice.

C

Depending on the length of time it takes them to adopt a new product, people can be divided into five major adopter categories: early adopters, early majority, late majority, laggards, and A) late adopters B) nonadopters C) innovators D) middle adopters E) middle majority

C

The three most widely recognized types of consumer decision making are: A) limited problem solving, extended problem solving, and routine response behavior B) extended problem solving, enduring problem solving, and situational decision making C) planned problem solving, impulse buying, and limited decision making D) internal problem solving, external problem solving, situational behavior E) responsive behavior, planned behavior, and impulsive decision making.

A

Guess will be spending $22 million on marketing activities next year and expects to sell 30 million pairs of jeans. These 30 million pairs represent the company's A) sales potential B) market potential C) sales forecast D) market sales E) selected market.

C

Most business purchases can be classified as belonging to one of three types: A) delinquent, repetitive, or delivered B) repetitive, new-task, or modified rebuy C) modified rebuy, new-task, or straight rebuy D) delinquent, new-task, or reciprocal E) rebuy, reciprocal, or delayed.

C

Sara Lee Corporation manufactures desserts, breads, pantyhose, meats, and a variety of other products. These products make up Sara Lee's product A) line B) item C) mix D) width E) depth

C

The fact that business customers purchase products to be used directly or indirectly in the production of goods and services to satisfy customers' needs means that demand for business products is A) joint B) economically stable C) derived D) inelastic E) more fluctuating.

C

The first step in the target market selection process is A) determining which segmentation variables to use B) selecting specific target markets C) identifying an appropriate targeting strategy D) evaluating relevant market segments E) developing market segment profiles.

C

When charitable organizations such as the American Cancer Society, Second Harvest Foodbank, and the Red Cross make purchases for goods and services to use in their daily operations, they would be considered to be _______ buyers. A) Corporate B) government C) institutional D) producer E) nonprofit

C

The width of a product mix is measured by the number of product A) dimensions in the product line B) features in each brand C) items in the product line D) lines a company offers E) specialties a company offers

D

Which type of business market tends to have the most complex buying procedures? A) Reseller B) Institutional C) Retailer D) Government E) Producer

D