MARKETING MID 1 questions
B2B, B2C
As use of the Internet took off, car manufacturers were tempted to sell directly to consumers, but decided instead to continue to sell through their existing dealer networks. The car manufacturers considered switching from __________ to __________ marketing.
C2C
Auction sites like eBay have increased opportunities for __________ marketing.
the benefits of answering questions against the cost of the research.
Benefit-cost analysis in market research weighs
promotion
--------- is communication by a marketer that informs, persuades, or reminds potential customers about a product.
market development
A __________ growth strategy employs the existing marketing offering to reach new market segments.
perceptual map
A __________ is often used to illustrate the position of a firm's products or brands in consumers' minds.
is likely more costly than an undifferentiated strategy.
A differentiated targeting strategy can allow a firm to obtain a bigger share of the overall market; this strategy
competition
A firm's macroenvironment includes all of the following EXCEPT
it can be tailored to meet the specific research needs.
A major advantage of primary data collection is that
it takes more time to collect than secondary data and is more costly.
A major disadvantage of primary data collection is
secondary
A marketing research project often begins with a review of the relevant __________ data.
a firm's target markets
A marketing strategy identifies three things: ________, a related marketing mix, and the bases on which the firm plans to build a sustainable competitive advantage.
question mark
A product that is in a high-growth market but has a low market share would be classified as________ on the BCG matrix.
differentiated targeting
Adidas Group owns Reebok, Rockport, and TaylorMade brands. Adidas uses the different brands to pursue a(n) __________ strategy.
research design
After defining objectives and research needs, the next step in the marketing research process involves
symbols
Almost all U.S. political candidates use some combination of red, white, and blue in their campaign posters. They are trying to position themselves in voters' minds using
is a more expensive method for identifying potential customers.
Although marketers have found that psychographics are often more useful for predicting consumer behavior than demographics, psychographic segmentation
lifestyle
Demographic segmentation is segmentation based on all of the following EXCEPT
geographic segmentation
Differences in weather and climate create opportunities for
ethical
During a SWOT analysis, a company should assess the opportunities and uncertainties of the marketplace due to changes in several factors, given the acronym CDSTEP. Which of the following is NOT one of these factors?
the type of research necessary to collect the data.
During the research design step of the marketing research process, researchers identify the type of data needed and
implementation phase
During which phase of the marketing planning process does a firm identify and evaluate different opportunities by engaging in segmentation, targeting, and positioning?
it helps to obtain a bigger share of the market.
Firms use a differentiated targeting strategy because
responsive
For a segmentation strategy to be successful, the customers in the segment must react similarly and positively to the firm's marketing mix. In other words. the market segment must be
undifferentiated targeting
For products like clothespins, which provide the same benefit for all consumers, marketers should probably use a(n) ________ strategy.
purchase behavior
Generational cohorts are groups of people of the same generation who have similar __________ because they have shared experiences and are in the same stage of life.
retailers
Geodemographic segmentation can be particularly useful for __________, because customers typically patronize stores close to their neighborhood.
cash cows
In BCG portfolio analysis, products in low-growth markets that have received heavy investment and now have excess funds available to support other products are called
regional culture
In New England, foot-long sandwiches are called grinders, while in many other parts of the country they are called subs. This is an example of the impact of
opportunity
In a SWOT analysis, increasing gasoline prices would represent a potential __________ for manufacturers of electric cars.
providing benefits to customers and keeping costs down.
In delivering value, marketing firms attempt to find the most desirable balance between
the firm itself
In the immediate marketing environment, the first factor that affects the consumer is
place
Internet sites, physical stores, and kiosks are most closely associated with which element of the marketing mix?
Diversification
Introducing newly developed products or services to a market segment the company is not currently serving is called
the results will be used in making management decisions.
Just as marketers create value by meeting the needs and wants of consumers, market researchers create value if
evaluate the attractiveness of each segment.
Karen has identified four potential market segments for her Rent-A-Chef home meal catering service. The next step is to
C2C
Many universities provide physical or electronic bulletin boards to facilitate ride-sharing and exchange of used books among students. These bulletin boards increase __________ marketing
defining objectives and research needs.
Market research begins with
New York, Los Angeles, and Chicago.
Marketers are more likely to find higher concentrations of foreign-born Americans and recent immigrants in
psychographic; demographic
Marketers have found that __________ segmentation is often more useful for predicting consumer behavior than __________ segmentation.
approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups.
Marketers in the United States are paying increasing attention to ethnic groups because
its value
Marketers must determine the price of a product carefully, based on potential buyers beliefs about
they speak different languages and come from different cultures.
Marketers should not assume that they can target all Asian consumers in the United States with one strategy because
product development
Marketers who design and offer new products and services to their existing customers are pursuing a ____________________ growth strategy.
place
Marketing channel management is related to which of the four Ps?
performance
Marketing has traditionally been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following EXCEPT
creating data
Marketing research includes all of the following EXCEPT
Demographic
NASCAR redirected its marketing efforts when a survey indicated that almost 50 percent of race fans were female. This is an example of __________ segmentation.
Quantitative Research
Once a marketing researcher is ready to move beyond preliminary insights to specific, informed questions, the researcher is ready to conduct
the high cost of finding new customers.
One of the reasons marketers use loyalty segmentation is
geodemographic
PRIZM and Tapestry divide and sort small geographic areas into categories using 60 or more demographic and lifestyle characteristics. These market research tools are examples of __________ segmentation.
describe themselves
Psychographics is the segmentation method that delves into how consumers
surveys or experiments
Quantitative research offers a means to confirm ideas through
are part of a firm's marketing strategy.
Segmentation, targeting, and positioning
greenwashing
Some companies have been accused of taking advantage of the current social trend of green marketing, positioning their products as environmentally friendly when this may not actually be the case. This is called
market growth rate
To determine how attractive a particular market is, using the BCG portfolio analysis, __________________ is established as one axis.
self-values, self-concept, and lifestyles.
To develop psychographic segments, the marketer must understand consumers'
language differences
Typical demographic data include all of the following EXCEPT
it complements or boosts the sales of another product.
Using the BCG portfolio analysis, a dog should be phased out unless
psychographic
VALS is the most widely used __________ segmentation tool.
making sure the product is available in the stores where customers will want to find it, and that it is always in stock so they can buy it when they want to.
Value creation through place decisions for a consumer product involves
misguided geographic segmentation.
When Mr. How, a Pennsylvania-based discount lumber and hardware chain, sent snow blowers to its Augusta, Georgia, store in April, it was engaged in
product development
When Nike, the prominent athletic shoe manufacturer, branched out from selling only athletic shoes to also offering athletic clothing and gym bags, what type of growth strategy did this represent?
concentrated
When Penguin Catering Services first opened, the owner decided to target only events at resorts in its geographic region. Penguin Catering was using a(n) __________ targeting strategy.
segmentation, targeting, positioning
When discussing the marketing planning process, STP stands for
responsive
When evaluating the attractiveness of the segment, if a segment is expected to react positively to the firm's offering, we say that the segment is
age
When marketers monitor the economic situation affecting their target markets, they are likely to monitor changes in all of the following EXCEPT
more risky than expansion in domestic markets.
When pursuing a market development strategy, expanding into international markets is
can help to identify a particular group that might be interested in the marketer's products.
When studying culture, the challenge for marketers is to determine whether culture
Qualitive
When the market research problem is not clearly defined, a researcher will likely engage in __________ research.
price
Which element of the marketing mix is most relevant to the activity "capturing value"?
product
Which element of the marketing mix is most relevant to the activity "creating value"?
Place
Which element of the marketing mix is most relevant to the activity "delivering value"?
asian
Which ethnic group in the U.S. tends to earn more, have more schooling, and be more likely to be professionally employed or own a business?
african american
Which ethnic group not only tends to be more affluent and suburban than previously thought, but also younger, with 47 percent between the ages of 18 and 49 years?
segment development
Which of the following is NOT one of the four major growth strategies marketers typically use?
making product, place, promotion, and price decisions
Which of the following is a core aspect of marketing?
A company donates money to a school reading project so it can advertise itself as environmentally friendly.
Which of the following is an example of greenwashing?
It confirms insights and provides a basis for taking a course of action.
Which of the following is true about quantitative research?
segment perceptions
Which of the following would NOT be used in calculating the profitability of a segment?
culture
Which of these is a macroenvironmental factor?
African American U.S. households are more affluent than previous studies suggested.
Which statement about the changing ethnicity in the United States is TRUE?
reachable
With access to the Internet nearly universal in the United States, many potential market segments have become more
market positioning
________ involves the process of defining the marketing mix variables so that target customers have a clear, distinctive, desirable understanding of what the product does or represents in comparison with competing products.
positioning
__________ involves defining the firm's marketing mix variables so that target customers have a clear, distinctive, and desirable understanding of the firm's offerings relative to competitors' offerings.
positioning
__________ involves the process of defining the marketing mix variables so that target customers have a clear, distinctive understanding of what a product does or represents in comparison with competing products.
micromarketing
__________ is an extreme form of a targeting strategy.
Demographic
__________ segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach.
benefit
__________ segmentation is the segmentation method most directly related to value creation for consumers.
the fastest growing minority population.
Though Asian Americans comprise only 6 percent of the U.S. population, they represent
secondary data.
Company sales invoices, census data, and trade association statistics are examples of
culture
The shared meanings, beliefs, morals, values, and customs of a group of people constitute their
consumers
The centerpiece of the marketing environment analysis framework is
external
The difference between a firm's immediate marketing environment and its macroenvironment is that the macroenvironment is
Corporate Partners
The firms that work along with the focal firm to provide goods and services to consumers are viewed as
Will the research be useful?
The first question a marketing researcher should ask when considering a research study is
clearly articulate the firm's vision or marketing strategy objectives.
The first step in the STP process is to
may not always go through them in the exact sequence if the situation changes or new information is discovered.
The marketing research process follows five steps, and researchers
consumers
The perceptions of __________ are being measured in a perceptual map.
market segmentation
The process of dividing the market into groups of customers with different needs, wants, or characteristics is called
