Midterm Review
According to the text, two major public policy and ethical issues in marketing research are ________
intrusions on consumer privacy and the misuse of research findings
A _______ defines how a company will create differentiated value for targeted segments and what positions it wants to occupy in those segments.
value proposition
What are the five stages of the consumer adoption process in the correct sequence?
Awareness, interest, evaluation, trial, and adoption
A whitepaper is an example of which type of marketing information?
Marketing Intelligence
What is a product's position?
The way a product is defined by consumers on important attributes
Bic believes that saving handwriting will serve short-term customer needs and their long-term welfare. This represents which marketing management orientation?
Societal Marketing Orientation
Consider the Cultural forces in our macroenvironment. Persistent beliefs and values which are passed on from parents to children, and reinforced by schools, businesses, and religious institutions are called _______ values.
Core
A potential downside to using a mobile app for ethnographic research is that _____.
customers may forget to use it.
In its communications to customers and investors, iRobot proclaims that its goal is to "design and build robots that make a difference in people's lives." Identifying the company's mission is the first step in the ______________ process.
strategic planning
Share of customer helps companies measure __
their percentage of spending from specific buyers in the market
What are the four major variables used to segment consumer markets?
Geographic, demographic, psychographic, and behavioral
Actors close to the company that affect the organization's ability to serve its customers are part of the company's __
microenvironment
Marketing is the process by which companies create ____ for customers and capture ___ in return
value; value
How might Ben & Jerry's measure the ROI of its product mission?
Share of customer
Perceptual positioning maps are used to show a company the consumer perceptions of their brands vs. those of their _______
competitors
According to the article you read, the sales funnel is an outdated model because _______
shoppers expand and contract their set of choices throughout the process
In order to better understand consumers' perceptions of the taste of Domino's, the research team utilized an online listening approach, examining unsolicited opinions about their pizza on social networks. This approach would best be described as __________:
Observational
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
AT&T's "the best 4G network" represents which marketing management orientation?
Product concept
Offering modified or new products to current markets represents which expansion strategy?
Product development
To adapt to its changing market environment, BIC decides to develop a new stylus product for touch-screen tablet devices, targeting parents and teachers who currently buy BIC pens and pencils. Using the Product/Market Expansion Grid, this is an example of what strategy?
Product development
In the Growth Share Matrix (aka BCG Matrix), SBUs that represent new innovations / new product launches typically start in which quadrant?
Question mark
What are the five characteristics that are especially important in influencing an innovation's rate of adoption?
Relative advantage, complexity, compatibility, divisibility, and communicability
In order to assess the effectiveness of its "Oh Yes We Did" ad campaign, Domino's tested the ad using a small group of individuals it thought was representative of the overall market. This group of consumers is called a __________.
Sample
The video suggests that a key challenge for Goodwill's marketers is to change the view of many consumers that secondhand stores are musty, low-class operations with poor-quality merchandise. This exemplifies the psychological concept of __________, which is the process by which people select, organize, and interpret information to form a meaningful picture of the world.
perception
According to the video, some individuals living in trendy neighborhoods choose to shop at Goodwill boutiques in order to find fashionable clothing and "shabby chic" furniture. According to Maslow's theory of __________, such shoppers are likely seeking to satisfy social or esteem needs.
motivation
To deliver real value to marketers, marketing information must _________.
provide useful customer insights
Which of the following statements regarding the business market is correct?
Many sets of business purchases are made for one set of consumer purchases.
A web usability study is an example of which type of marketing information?
Market Research
In perceptual positioning maps, what does the size of each circle represent?
Market share
The value of an offering is its perceived ___ minus its perceived ___
benefits; costs
When customer expectations exceed their actual experiences, the result is ___
satisfaction
For a ski jacket manufacturer, a very snowy winter would be considered a/n __________ in SWOT analysis.
Opportunity
To a recreational soccer player, what do tase Nikes represent?
Want
Which type of business buying situation offers marketers the greatest opportunity but also the greatest challenge?
A new task situation
A call center report is an example of which type of marketing information?
Internal Data
What are the three general sources from which marketers can obtain information?
Internal data, marketing intelligence, and marketing research
Which of the following is true of an undifferentiated (mass) market strategy?
It is less expensive than a differentiated strategy
Using the sales funnel framework, a rational, considered purchase of an expensive item typically follows what process?
Know--> Feel--> Do
In terms of order revenue, business transactions are typically _____ vs. consumer transactions.
Larger
I am skeptical, and tend to upgrade my phone to the newest model only after a majority of people have already adopted it. This makes me a/n ________.
Late Mainstream adopter
In terms of time, the business decision process is typically _____ vs. the consumer decision process.
Longer
Which of the following are additional variables marketers use to segment business markets but not consumer markets?
Operating characteristics, purchasing approaches, situational factors, and personal characteristics
In which step of the buying decision process is the final order with the chosen supplier developed?
Order-routine specification
When iRobot introduced new robot models that would clean gutters and mop floors, this innovation represented which type of market growth strategy?
Product Development Strategy
A growing number of college students have a laptop or tablet with them at all times. Using SWOT analysis, what does this represent for Bic?
Threat
According to the video, iRobot is seeing a lot of competitors coming out with lower-priced and lower-quality knockoffs. The result is a perception that robot vacuums do not work well. With respect to the broader SWOT framework, this analysis would fall under which dimension?
Threat
Why do companies use customer relationship management?
To capture and use customer data
Which of the following is true regarding international marketing research?
Translating questionnaires from one language to another is not an easy task.
Some customers have continued to purchase Bic pens for many years, and prefer more expensive designs and colors. To which customer relationship group do these customers likely belong?
True Friends
Which structural factor would make a market segment attractive to enter?
Very few actual or potential substitute products
_____ are internal limitations that may interfere with a company's ability to achieve its objectives
Weaknesses
In order to determine which combination of crust, sauce, and cheese options work best together, the Domino's researchers employed a(n) __________ research design.
experimental
Evaluating each market segment's attractiveness and selecting one or more market segments to enter is called _____
market targeting
BK's "have it your way" slogan represents which marketing management orientation?
marketing concept
The people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights comprise a ________
marketing information system
Goodwill adapts its store formats and merchandise plans to match the innovativeness and disposable income of shoppers in nearby neighborhoods. For instance, customers of its boutique store in the Haight-Ashbury neighborhood of San Francisco are more likely to demonstrate greater __________ for trendy fashions.
rate of adoption
The buyer decision process starts with __________
recognizing a need
Customer satisfaction relates to how well a market offering meets or surpasses ___
customer expectations
What do marketers use to analyze big data?
Marketing analytics
The best, but least sustainable, winning value proposition is _______.
More for less
What are the four general characteristics that influence consumer purchases?
Cultural characteristics, social characteristics, personal characteristics, and psychological characteristics
I want to divide up the market based on the benefits different audiences get from using my product. This is an example of _______ segmentation.
Behavioral
This headline reflects which macroenvironmental force? "Drought Threatens NH Dairy Industry"
Natural
Market Segments which are ____ are large enough to build a marketing plan around.
Substantial
What is big data?
Data contained in huge and complex data sets
Which type of targeting focuses on going after a large share of one (or a few) target segments?
Niche marketing
What is the name of the industry program (and icon) that shows when a digital ad has been targeted using prior web browsing behavior?
Ad choices
I splurged on an expensive vacation in Hawaii 7 years ago but have not traveled much since. The resort likely now views me as a __
Butterfly
How might Ben & Jerry's measure the ROI of its social mission?
Carbon footprint
In the US, Bic's writing products SBU has high market share, but the market is shrinking. Using Business Portfolio Analysis (aka BCG Growth/Share Matrix), how would you classify this SBU?
Cash Cow
If Coca-Cola wanted to study the impact of changing the taste of Coke on purchase preference, they could have undergone _____ research.
Causal
In the article you read, McDonald's is criticized for targeting its marketing to kids, particularly ______________
Children of color
What are the four steps of the marketing research process in their correct sequence?
Define the problem and research objectives, develop the research plan, implement the research plan, interpret and report the findings
The Domino's leadership team determined that while it was a great delivery company, the poor taste of their pizza was an impediment to future growth. To what stage of the marketing research process did this realization correspond?
Defining the problem and research objectives
The following headline reflects which macroenvironmental force? "Retailers should focus on aging baby boomers, not millennials, as profit centers"
Demographic
Which type of targeting focuses on going after several market segments, with a separate offering for each?
Differentiated marketing
What is market segmentation?
Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes
According to the BCG Growth Matrix, ___ are low-growth, low-share businesses and products. They may generate enough cash to maintain themselves but do not promise to be large sources of cash
Dogs
This headline reflects which macroenvironmental force?"Laid-Off American workers are Having Better Luck Finding New Jobs"
Economic
BCG growth matrix should be adapted to help companies survive in unpredictable markets. This involves doing all of the following steps except:
Experimenting less WHAT YOU SHOULD DO: Accelerating the pace of innovation Increasing the number of "Question Marks" Selecting investments and divestments in a disciplined way
In 1985, Coca-Cola should have first undergone ______ research to gather preliminary info and create a hypothesis as to why people were drinking less cola.
Exploratory
What are the three types of objectives a marketing research project might have?
Exploratory research, descriptive research, and causal research
Companies should invest in retaining all customers who purchase from them (T or F)
False
In terms of the number of customers in the market, there are _____ Business buyers vs. Consumer buyers
Fewer
According to the article you read, which of the following is a good strategy for marketing during a recession?
Focus on family values
Aeropostale launches a campaign targeting preteens ages 11-12. What generation does the store hope to reach?
Gen Z
Which of the following correctly defines the consumer market?
Individuals and households that buy goods and services for personal consumption
The profile of the early Roomba customers reflected individuals who liked and were comfortable with technology and who also wanted a clean home. Dividing the larger population into smaller groups based on such characteristics is a practice known as _____________
Market Segmentation
The group of individuals in the video and the processes by which they gather information to help decision makers generate and validate actionable customer and market insights could be described as Domino's __________
Marketing information system
BIC's annual report says that it exists to "offer simple, inventive, and reliable solutions to everyday needs." A customer-focused, purposeful, aspirational declaration like this is also called a/an ____________.
Mission statement
What is the appropriate hierarchy in the strategic planning process?
Mission statement--> Objectives --> Goals
Consider Bic's macroenvironment. To which force is this campaign primarily responding?
Technological
What determines whether the buyer is satisfied or dissatisfied with a purchase?
The relationship between the consumer's expectations and the product's perceived performance
Buyer discomfort caused by post- purchase conflict is known as ______________
cognitive dissonance
When deciding among possible value propositions, marketers consider their price and unique benefits relative to their ____________
competitors
In which targeting strategy does a firm go after a large share of one or a few smaller segments?
concentrated marketing
Just prior to the introduction of the Roomba, Electrolux introduced a similar robot in Europe that featured a sleek, space-aged design and a $1,500 price point. In contrast, the form factor of the iRobot Rumba was simple and its price point was much lower. Because of its unique ____________, the Rumba easily outperformed the rival product in terms of sales.
differentiation
According to the video, Goodwill has often had to cut prices due to poor ______ conditions.
economic
According to the video, Goodwill adjusts its merchandising and store formats in Northern California to better match the __________ of individuals living within those neighborhoods, as expressed by their respective daily activities, interests, and opinions.
lifestyle
According to the article you read for class, many companies are using _____ to gain more speed, scale, and efficiency from its ethnographic research efforts.
mobile apps