Marketing quiz 2 answers

Which types of companies would most benefit from conducting marketing research?

Both large multinational firms like Disney and IBM and small local firms

The real value of marketing information rests in the _________

customer insights it provides

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

image

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

differentiated marketing

Calvin's Cupcakes is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST path for this company to start to develop an efficient MIS?

Assess the information needs of the company

Juanita owns a small hot-air balloon company in Albuquerque, New Mexico. She recently started a Facebook page for her company, and many of her customers are asking for store-sponsored hot-air balloon trips. They believe Juanita's expertise would make her the perfect guide. Juanita decides to host quarterly hot-air balloon trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be drawn from Juanita's situation?

Customer insights can provide valuable information to a small businesses.

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

Improving customer-supplier relationships

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

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

Self-concept

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

Which statement is true?

The real value of marketing information lies in how it is used.

Which of the following BEST describes the purpose of customer insights?

To create more value for customers

Using online consumer tracking data and analytics to target advertisements and marketing offers to specific consumers is known as ________.

behavioral targeting

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

cultural

_______ involves sending trained observers to watch and interact with consumers in their "natural environments."

ethnographic research

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

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

market targeting

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

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

psychographic