MKT 210 Chapter 5,6,7 Test 2 Practice

Sprout segmented the market by targeting parents of preschoolers who wished to have an educational and entertaining experience for and with their children. Which type of segmentation does this​ describe?

benefits sought

according to the stimulus-response model of buyer behavior, marketing and other stimuli enter the consumer's _____ and produce certain responses.

block box

A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your​ colleague?

carefully consider the degree of competition and ease of entry into the segment.

Amazon and GEICO set themselves apart with their​ smooth-functioning direct delivery strategy referred to as​ __________ differentiation.

channel

Anythinglefthanded.com.uk only sells products designed for​ left-handed people. Which targeting strategy is it​ using?

concentrated marketing

Instead of going after a small share of a large​ market, a firm goes after a large share of a smaller niche segment. This type of marketing strategy is known as​ __________.

concentrated marketing

Forces and events in the​ buyer's environment enter the​ buyer's black​ box, where they are turned into a set of buyer responses. These buyer responses include​ __________.

brand​ choice, purchase location and​ timing, and brand engagement and relationship behavior

Sprout has created a unique market offering by integrating its programs with both children and parents. This unique offering that creates superior customer value is known as​ __________.

differentiating

A company can differentiate itself from competitors using symbols such as​ McDonald's golden​ arches, Twitter's​ bird, and the Nike swoosh. Which type of differentiation is​ this?

Image differentiation

The winning value proposition by discount stores such as Walmart and Best Buy can be categorized as​ __________.

the same for less

Which of the following correctly defines the consumer​ market?

individuals and households hat buy goods and services for personal consumption

The step in designing a customer value dash -driven marketing strategy in which a company divides a market into distinct groups of buyers is known as market​ __________

segmentation

Which value proposition is difficult to sustain in the long​ run?

. More for less

If men and women respond similarly to the same marketing​ mix, they do not constitute different segments. Gender would not be effective in this example because the segment is not​ ________.

. differentiable

The​ statements, "I only buy the​ best" and​ "The Japanese make the best cars in the​ world," represent​ ________. A. motives B. attitudes C. drives D. perceptions E. physiological needs

B. attitudes

Question Help What are perceptual positioning maps used​ for?

D. To show consumer perceptions of different brands on important buying dimensions

On the My​ M&Ms Web​ site, users can place custom orders for​ M&Ms. They can choose their own​ colors, put a personalized text message on the​ candies, and even upload a photo to be placed on each​ M&M. Which targeting strategy is​ M&M using​ here?

Individual marketing

What is the unique positioning of​ Sprout?

The channel is marketed to both children and their parents and airs 24 hours a day.

Using​ a(n) __________ marketing​ strategy, a firm might decide to ignore market segment differences.

undifferentiated

A popular football player at a college who is able to influence the buying decisions of fans would best be described as​ a(n) __________. A. ​word-of-mouth influence B. opinion leader influence . C. family role influence D. membership group influence E. aspirational group influence

. opinion leader influence

Which of the following statements regarding the business market is​ correct? A. The business market is not as large as the consumer market in terms of dollars spent and items purchased. B. Business marketers normally deal with far fewer but far larger buyers than the consumer marketer does. C. Business buying decisions are less complex than consumer buying decisions. D. In the business market buying​ process, buyers and sellers are less dependent on each other than in the consumer market. E. The business market has more buyers than the consumer market.

.B. Business marketers normally deal with far fewer but far larger buyers than the consumer marketer does.

According to the model of buyer​ behavior, what are the two parts of a​ buyer's black​ box?

The​ buyer's characteristics and the​ buyer's decision process

When using digital​ marketing, B-to-B marketers are targeting​ __________ that affect buying decisions for​ __________. A. ​individuals; social media B. ​businesses; individuals C. ​consumers; businesses D. ​individuals; businesses E. ​businesses; social media

D. ​individuals; businesses

Students purchasing items with the college logo most likely represent consumers involved in which type of buying​ behavior? A. ​Variety-seeking B. ​Dissonance-reducing C. Habitual Your answer is correct. D. Postpurchase dissonance E. Complex

Habitual

​__________ segmentation divides buyers into different segments based on lifestyle or personality characteristics.

Psychographic

When marketers target segments such as sports​ fans, do-it-yourselfers,​ commuters, and wine​ enthusiasts, which base of segmentation are they​ using?

Psychographic segmentation

Which of the following best describes Sprouts competitive​ advantage?

Sprout's overall customer value

What is the purpose of​ differentiation?

to create superior customer value

Stimuli in the​ buyer's environment includes​ ________.

​economic, technological,​ social, and cultural forces

Sprout markets to​ preschool-aged children and their parents. Which type of segmentation is Sprout most likely​ using?

demograpic

The process of evaluating each market​ segment's attractiveness and selecting one or more market segments to enter is called​ ________.

market targeting

Market​ __________ evaluates each market​ segment's attractiveness and selects one or more segments to serve.

targeting

What is​ positioning?

Arranging for a market offering to occupy a​ clear, distinctive, and desirable place relative to competing products in the minds of target consumers

consumer​ motivation, perception, and learning are related to the​ __________ factors influencing consumer behavior. A. cultural B. personal C. social D. psychological E. subcultural

D. psychological

When consumers engage in​ ________ buying​ behavior, they go through a learning​ process, so it is most important that marketers understand information gathering and evaluation behavior. A. complex B. ​variety-seeking C. ​dissonance-reducing D. habitual E. ​low-involvement

A. complex

Which of the following statements is not a difference between business markets and consumer​ markets? A. The market is very small and limited. B. The buying process is more formalized. C. The buying decision involves more professionals. D. Business demand is a derived demand. E. Buyers face more complex buying decisions.

A. The market is very small and limited.

One problem with​ business-to-business e-procurement is that it​ ________. A. can erode​ long-standing customer-supplier relationships B. reduces purchasing efficiency C. increases paperwork requirements D. increases the time between order and delivery E. increases transaction costs

A. can erode​ long-standing customer-supplier relationships

When Eaton worked with the University of Notre Dame on its new engineering building to improve its energy efficiency and earn LEED​ credits, Eaton engaged with a number of people at Notre Dame to finalize the partnership and solidify terms and conditions associated with the agreement. Which of the following people in the buying center would have affected Notre​ Dame's buying decision​ (for example, define specs and provide information on evaluating​ alternatives)? A. Influencers B. Deciders C. Gatekeepers D. Buyers E. Users

A. Influencers Correct. Influencers are people in an​ organization's buying center who affect the buying decision​ (define specs, provide info on evaluating​ alternatives). Users are members of the organization who will use the product or service. Buyers are the people who make the actual purchase. Deciders have formal or informal power to select or approve the final suppliers and gatekeepers control the flow of information.

When​ Eaton's customers became aware that they needed solutions for power​ management, energy​ savings, green​ technologies, and LEED​ certification, they were in which phase of the business buying​ process? A. Problem recognition B. General need description C. Proposal solicitation D. Performance review E. Product specification

A. Problem recognition Correct. Problem​ recognition, the first phase of the business buying​ process, is the stage in which the company recognizes a problem or need that can be met by acquiring a good or service. All of the other phases follow this initial phase of problem recognition

​__________ is the stage of the​ business-buying decision process that occurs after a problem is recognized and a general need description is developed. A. Product specification B. Performance review C. Proposal solicitation D. Need recognition E. Supplier selection

A. Product specification

Business markets have demand that​ __________. A. is inelastic B. is elastic C. does not change for products D. is rigid at all times E. does not change for services

A. is inelastic Correct. Business markets have inelastic and fluctuating demand. The total demand for many business products is not much affected by price changes. The demand for many business goods and services tends to change more long dash —and more quickly long dash —than does the demand for consumer goods and services. A small percentage increase in consumer demand can cause large increases in business demand.

Some of the cultural factors that influence buyer behavior include​ _____. A. subculture and social class B. ​subculture, small​ groups, and social networks C. social class and family D. subculture and family E. ​subculture, beliefs, and attitudes

A. subculture and social class

​__________ behavior occurs when consumers are highly involved with an​ expensive, infrequent, or risky purchase but see little difference among brands. A. ​Dissonance-reducing buying B. ​Post-purchase C. ​Variety-seeking buying D. Complex buying E. Habitual buying

A. ​Dissonance-reducing buying

Which of the following is a​ business-to-business market​ transaction? A. A grocery store buying cereal from​ Kellogg's B. The U.S. government buying supplies for military personnel C. A person buying his or her weekly groceries D. A family vacationing at Disneyland E. A hospital buying medical supplies

A. A grocery store buying cereal from​ Kellogg's

Through the​ years, Eaton has shifted from selling strictly components to solving its​ customers' problems with more tailored offerings. This is an example of​ _________. A. solutions selling B. modified rebuy C. straight rebuy D. new task E. ​non-modified rebuy

A. solution selling. Correct. Solutions selling involves buying a packaged solution from a single seller. In a straight​ rebuy, the buyer simply reorders without modifications. In a modified​ rebuy, the buyer modifies product​ specification, prices,​ terms, or suppliers. A new task is when a company buys any new product or service for the first time.

IMG​ World's products and services are geared toward colleges and​ students, the students of which may be considered young achievers. This designation can be best described as which influential factor of consumer buying​ behavior? A. Family role B. economic situation C. Social class D. Occupation E. Age and life stages

Age and life stages

In which type of buying situation will a buyer usually go through all the stages of the business buying​ process? A. The purchase of a business service B. A new​ task-buying situation C. The purchase of raw materials D. A straight rebuy E. A modified rebuy

B. A new​ task-buying situation

Which of the following correctly identifies the personal factors that influence consumer buyer​ behavior? A. ​Motivation, beliefs and​ attitudes, perception, and learning B. Age and lifecycle​ stage, lifestyle, economic​ situation, occupation, and personality and​ self-concept C. Age and lifecycle​ stage, occupation, economic​ situation, lifestyle, and motivation D. ​Occupation, economic​ situation, lifestyle,​ family, and social class E. ​Subculture, lifestyle, economic​ situation, and age and lifecycle stage

B. Age and lifecycle​ stage, lifestyle, economic​ situation, occupation, and personality and​ self-concept

There are a number of influences on the buying organization and buying center that can impact how and what is purchased by a business. For​ Eaton's customers, the economic crises in 2008 would be classified as what type of​ influence? A. Organizational B. Environmental C. Interpersonal D. Procedural E. Individual

B. Environmental Correct. Economic influences impact the buying organization and are classified as environmental in nature. Organizational influences also impact the buying​ organization, but are factors internal to the​ company, such as​ strategies, objectives, and procedures. Interpersonal and individual influences focus on the buying center and are more focused on individuals involved in the buying process.

Which of the following correctly identifies the first two adopter groups that adopt a new​ product? A. Late mainstream and laggard adopters B. Innovators and early adopters C. Innovators and laggard adopters D. Early mainstream and late mainstream E. Early adopters and early mainstream

B. Innovators and early adopters

​Variety-seeking behavior would result from which of the following​ conditions? A. High involvement and significant differences between brands B. Low involvement and significant differences between brands C. High involvement and few differences between brands D. Buyers do not engage in variety seeking behavior. E. Low involvement and few differences between brands

B. Low involvement and significant differences between brands

What determines whether a buyer is satisfied or dissatisfied with a​ purchase? A. How others feel about the purchase B. Satisfaction is determined by the relationship between the​ consumer's expectations and the​ product's perceived performance. C. The amount of information gathered in the decision process D. Whether or not the buyer experienced cognitive dissonance E. The number of alternatives considered in the purchase decision

B. Satisfaction is determined by the relationship between the​ consumer's expectations and the​ product's perceived performance.

​________ are the social factors that influence consumer buyer behavior. A. Age and lifecycle stage and lifestyle B. Small​ groups, social​ networks, family, social​ roles, and status C. ​Personality, self-concept, and lifestyle D. ​Culture, subculture, and social class E. ​Motivation, perception,​ learning, beliefs, and attitudes

B. Small​ groups, social​ networks, family, social​ roles, and status

​__________ have rapidly become the new platforms for engaging business customers. A. ​Cold-call and phone marketing B. Social media and digital marketing C. Consumer and employee marketing D. ​Door-to-door and​ in-person marketing E. Traditional and antiquated marketing

B. Social media and digital marketing

Which of the following statements regarding the U.S. government market is​ correct? A. Government buying is based solely on economic criteria. B. The U.S. government is the largest buyer of goods and services in the world. C. Selling to the U.S. government requires no specific knowledge of that market. D. The U.S. government market is not affected by environmental factors. E. Government buying is not scrutinized by outside publics.

B. The U.S. government is the largest buyer of goods and services in the world.

When does the habitual buying behavior​ occur? A. When consumers recognize that there is a problem B. Under conditions of​ low-consumer involvement and little significant brand difference C. When consumers are highly involved with an​ expensive, infrequent, or risky purchase D. When there is low consumer involvement but significant perceived brand differences E. When consumers recognize that there is a need

B. Under conditions of​ low-consumer involvement and little significant brand difference

Consumer purchases are influenced strongly by certain characteristics which include all of the following except​ __________. A. personal B. cognitive C. social D. psychological E. cultural

B. cognitive

Developing product specifications follows​ __________ in the business buyer decision process. A. supplier search B. general need description C. supplier selection D. proposal solicitation E. performance review

B. general need description Correct. Having recognized a​ need, the buyer next prepares a general need description that describes the characteristics and quantity of the needed item

The rapidly expanding use of​ e-procurement in​ business-to-business deals provides several​ advantages; however, one of the disadvantages is​ __________. A. it reduces time between order and delivery B. it pits suppliers against one another C. it helps finds better supply sources D. it shaves transaction costs E. it eliminates paperwork

B. it pits suppliers against one another

To do​ e-procurement, companies can conduct ​__________​, in which they put their purchasing requests online and invite suppliers to bid for the business. A. trading exchanges B. reverse auctions C. company buying site D. intranet link E. extranet link

B. reverse auctions

In the buyer decision​ process, after a consumer has recognized a​ need, he or she will next​ ________. A. make a purchase decision B. search for information C. form a purchase intention D. experience cognitive dissonance E. evaluate alternatives

B. search for information

​__________ includes the final order with the chosen supplier or suppliers and lists other required items. A. ​Vendor-managed inventory B. ​Order-routine specification C. Product specification D. Supplier search E. Performance review

B. ​Order-routine specification Correct.​ Order-routine specifications include the final order with the chosen supplier or suppliers and lists items such as technical​ specifications, quantity​ needed, expected delivery​ time, return​ policies, and warranties

​__________ segmentation divides buyers into segments based on their​ knowledge, attitudes,​ uses, or responses to a product.

Behavioral

Toothpastes claim they​ "whiten teeth,"​ "fight bad​ breath," and​ "reduce plaque." Which base of segmentation is being used in this​ example?

Benefits sought

IMG World provides college students with​ new, relevant​ media, making which stage of the consumer buyer behavior process easier for the​ consumer? A. Purchase decision B. Postpurchase behavior C. Information search D. Need recognition E. Evaluation of alternatives

C. Information search

Which of the following statements regarding the institutional market is​ correct? A. Institutional markets are characterized by large budgets. B. Marketers do not recognize the special characteristics and needs of institutional buyers. C. Institutional markets are characterized by low budgets and captive patrons. D. Institutional markets are relatively small. E. Institutional buyers always seek to minimize costs.

C. Institutional markets are characterized by low budgets and captive patrons.

Institutional markets are​ __________. A. affected by organizational factors B. carefully watched by outside publics C. characterized by low​ budget, captive patrons D. subject to frequent shifts in procurement personnel E. characterized by considerable documentation

C. characterized by low​ budget, captive patrons

The U.S. government normally awards contracts to​ ________. A. the supplier with the highest quality item B. the supplier with the best reputation C. the lowest bidder D. foreign suppliers E. the highest bidder

C. the lowest bidder

How is the​ business-buying decision process different from the​ consumer-buying decision​ process? A. ​Business-buying decisions are less formal. B. ​Business-to-business marketers do not work as closely with their customers as consumer marketers. C. ​Business-to-business marketers keep customers by meeting current needs and by partnering with them to help solve their problems. D. The​ business-buying decision process is shorter than the​ consumer-buying decision process. E. Business buyers face less complex buying decisions than consumers do.

C. ​Business-to-business marketers keep customers by meeting current needs and by partnering with them to help solve their problems.

Which of the following statements regarding segmentation is​ correct?

Consumer and business marketers use many similar​ variables, but business marketers use additional variables to segment their markets.

Every Monday a pizzeria places the same order with its supplier for pepperoni. Which type of buying situation does this​ represent? A. A new task situation B. A modified rebuy C. A consumer transaction D. A straight rebuy E. Systems selling

D. A straight rebuy Correct. A straight rebuy is routine and product​ specifications, price,​ terms, and suppliers do not change.

​________ is the first stage in the new product adoption process. A. Evaluation B. Adoption C. Trial D. Awareness E. Interest

D. Awareness

Five characteristics are important in influencing an​ innovation's rate of adoption. As​ ________ increases, the rate of adoption is slower. A. Relative advantage B. Compatibility C. Divisibility D. Complexity E. Communicability

D. Complexity

Which of the following is an example of an institutional​ buyer? A. Walmart B. The U.S. Navy C. Proctor​ & Gamble D. Tenet Healthcare E. Apple

D. Tenet Healthcare. Correct. Institutional buyers include​ schools, hospitals, nursing​ homes, prisons, and other institutions that provide goods and services for people in their care. Tenet Healthcare runs 80​ for-profit hospitals in 14 states

The most basic determinant of a​ person's wants and behavior are embedded in a consumers​ __________. A. reference groups B. subculture C. personal characteristics D. culture E. social factors

D. culture

Eaton sells only to businesses and focuses on the​ electrical, hydraulics,​ aerospace, and vehicle markets. When the economic crises hit in​ 2008, consumers began cutting​ back, and as a​ result, Eaton's customers needed to cut costs and scale back operations.​ This, in​ turn, impacted​ Eaton's sales, which is known as​ __________. A. problem recognition B. buyer and seller dependencies C. complex buying process D. derived demand E. a straight rebuy

D. derived demand Correct. Derived demand is business demand that ultimately comes from the demand for consumer goods. When consumers cut back in​ 2008, Eaton's customers​ (businesses) were forced to scale back as well. For​ Eaton, this meant demand for their solutions decreased. The demand for​ Eaton's solutions ultimately hinges on demand for consumer goods.

In​ B-to-B marketing, digital and social media play an important role in​ __________. A. deterring partnerships among businesses B. proposing new businesses C. deterring consumers D. engaging business buyers E. attracting consumers

D. engaging business buyers

Hospital purchasing agents should prefer​ __________. A. ​open-bid purchasing B. considerable documentation from suppliers C. a negotiated contract D. food vendors with low prices and quality products E. to give contracts to the lowest bidder

D. food vendors with low prices and quality products

​Motives, perceptions and preferences are​ _______ factors than can influence the​ business-buying decision process. A. interpersonal B. cultural C. organizational D. individual E. economic

D. individual Correct. Each participant in the​ business-buying decision process brings in personal​ motives, perceptions, and preferences. These individual factors are affected by personal characteristics such as​ age, income,​ education, professional​ identification, personality, and attitudes toward risk.

The first group marketers try to bring their new products to the attention to are potential​ __________. A. early mainstream B. late mainstream C. early adopters D. innovators E. lagging adopters

D. innovators

A business buying situation in which the buyer reorders something without any modifications is known as a​ __________ A. modified rebuy B. buying center C. systems solution D. straight rebuy E. new task Click to select your answer and then click Check Answer. All parts showing Clear All Check Answer

D. straight rebuy Correct. There are three major types of buying​ situations: straight​ rebuys, modified​ rebuys, and new tasks. In a straight​ rebuy, the buyer reorders something without any modifications. It is usually handled on a routine basis by the purchasing department.

Items such as technical​ specifications, quantities, delivery​ times, return​ policies, and warranties are included in the​ ________. A. proposal solicitation B. product specification C. general need description D. ​order-routine specification E. supplier selection

D. ​order-routine specification

The buying center of an organization consists of​ ________. A. the entire buying organization B. economic and technical factors C. the choice of suppliers D. all individuals and units that play a role in the buying purchase decision process E. the buying decision process

D. all individuals and units that play a role in the buying purchase decision process Correct. The buying center consists of all individuals and units who play a role in the business purchase​ decision-making process. This group includes the actual users of the product or​ service, those who make the buying​ decision, those who influence the buying​ decision, those who do the actual​ buying, and those who control buying information.

Which of the following statements about segmentation is​ true?

Different segments might require different marketing strategies or mixes.

What is the nature of demand in business​ markets? A. Demand in business markets fluctuates less than in consumer markets. B. Demand in business markets does not fluctuate. C. Business market demand is independent of consumer market demand. D. Demand in business markets is elastic. E. Changes in consumer demand will cause changes in business demand.

E. Changes in consumer demand will cause changes in business demand.

A university is buying notebook computers for its faculty. The​ university's Information Technology department has been asked to provide specifications and recommendations for this purchase. The IT department is playing which role in the​ university's buying​ center? A. Gatekeeper B. Buyer C. User D. Decider E. Influencer

E. Influencer Correct. Influencers help define specifications and provide information for evaluating alternatives.

Which adopter group is skeptical and adopts a new product only after a majority of people have tried​ it? A. Innovators B. Early mainstream C. Early adopters D. Lagging adopters E. Late mainstream

E. Late mainstream

Business-to-business marketers are now using a wide range of digital and social media marketing approaches to​ __________. A. search for better products B. hire new employees C. attract new consumer markets D. promote the use of social media E. engage business customers and manage customer relationships

E. engage business customers and manage customer relationships

In the product adoption​ process, __________. A. consumers are innovators B. consumers respond depending on their characteristics C. consumers respond based on product characteristics D. consumers respond at different rates E. there are five stages

E. there are five stages

Question Help The Westin Stamford Hotel in Singapore failed when it once advertised itself as the​ world's tallest hotel. This difference was not worth establishing because it did not satisfy which of the following​ criteria?

Important

__________ are members of the buying center who help define specifications and provide information for evaluating alternatives. A. Buyers B. Influencers C. Gatekeepers D. Users E. Deciders

Influencers

compare to the mainstream buying public, Hispanic consumers tend to be deeply _____oriented, making this a special characteristic and behavior

family

One important consideration in using a differentiated targeting strategy is that​ ________.

it can increase costs