MKT 300 Module 2 HW

exchange control

In Argentina a currency crisis led the government to mandate that companies needed permission from the central bank to purchase foreign currency and exporters needed to liquidate any foreign exchange earnings within five days. This is an example of a(n) _______.

competitive forces

In the EU, some people claim that Google restricts advertisements sold by other companies and pre-installs its search engine as a default on mobile devices. This concern is most likely related to _______.

predictive analytics

Instagram uses historical user data with statistical techniques to find answers and solutions to address future decisions. For example, when people like photos captioned with #dogsofinstagram, they are likely to be served additional organic content about dogs. What is Instagram using in this case?

e-marketing

Jackson has been asked to recruit a marketing professional to be responsible for the strategic process of pricing, distributing, and promoting products, and discovering the desires of customers using digital media and digital marketing. The candidates need experience in not just the internet but also mobile phones, banner ads, digital outdoor marketing, and social networks. Jackson decides to post the job description with the job title _______ manager.

cognitive dissonance

Jamie works as a salesperson at a car dealership. She takes her sales very seriously. After selling a car to a customer, she waits two weeks and then calls the customer to see how they like their new car. She tries to reinforce the fact that they made a smart investment and that the dealership is there for any problems they might have. Jamie is attempting to reduce _______.

situational involvement

Ji-eun loves her car. Recently, she noticed her tires were getting worn. She took it into the dealership, where she was told that all her tires were worn and should be replaced. Ji-eun knows this will be a significant investment. She decided on getting the most expensive tires because they are high quality and she wants the best. She hopes she is making the right decision. At least she will not have to purchase tires for several more years, unless she gets a flat. Ji-eun's involvement with her tire purchase is an example of ______.

Tariffs have been virtually eliminated on goods produced and traded among Canada, Mexico, and the United States.

Juan owns a sporting goods company based in Mexico City. He wants to sell his products in other countries, so he researches USMCA and finds strong support for choosing either the United States or Canada to begin exporting products. Juan likely noticed which of the following advantages of the free trade agreement?

consumer fraud

Kaya bought a $300 dress for homecoming. She wore it to homecoming and had a great time. However, afterwards she decided she did not want the dress. She returned it for a full refund. The cashier did not ask about the missing tags. This is an example of ______.

level of quality

Kira loves Mexican food. She saw an ad for a new Mexican restaurant that touted its affordable prices. She went in to eat but thought the food was way too salty. Kira thought perhaps it was just a fluke. She tried the restaurant again, but the food tasted just as bad. For Kira the restaurant has a low _______.

The Association of Southeast Asian Nations (ASEAN)

Malaysia and Laos are members of the same trading bloc that promotes trade and economic integration among member nations in the region. One distinguishing characteristic of this trading bloc is

omnichannel

Many online retailers, such as Birchbox, Blue Nile, and Warby Parker, have established a presence in the traditional brick-and-mortar market to create a physical presence and increase awareness. This trend is a result of _______ retailing, a cross-channel strategy where retailers offer a seamless experience on mobile, desktop, or traditional retail spaces.

Screening

Method is a nontoxic, biodegradable cleaning supplies company. Suppose one of the employees on the production team at Method got an idea for the company to expand into biodegradable plastic wrap. He has heard about new technologies that could make this possible. Method has the resources to invest in this new product, but after considering it, the production managers nixed the idea because it did not fit well with its product mix. What stage of the product development process was Method in?

A commercial data service such as Dun & Bradstreet

Midwestern Sealants & Coatings wants to expand into new geographic areas within the U.S. to find more customers for its sealants and industrial paints. To identify prospects, it needs to locate potential business customers by industry classification numbers, determine their locations, and develop lists of potential customers by desired geographic area and identify prospects' name, location, sales volume, number of employees, type of products handled, names of chief executives, and other pertinent information. Where would you suggest Midwestern turn?

consistency of quality

Miles recently stayed at the Hyatt. He loved the experience. The staff was so nice, and the rooms were clean. The concierge was extremely helpful. He decided to stay there when he returned on his next business trip. However, the next time he stayed there, there were different staff members who were not very friendly or helpful. Also, the housekeeping staff did not change the towels in his room. The only thing he found to be the same was the concierge. This Hyatt seems to lack _______.

category-consistent; innovative

Most wine comes in similarly shaped bottles or, occasionally, boxes. However, Stack Wine offers its wine in four-pack cups. While a traditional winemaker is likely to adopt _______ packaging, Stack Wine has adopted _______ packaging.

family packaging

MultiTech Corp. has decided that all of its products' packages should be similar. Multitech is using which of the following?

To mine optimal locations for activities and resources

Namjoo is launching an online marketplace for lodging. Her investors say she should focus on local business, but she believes that a global presence generates opportunities for creating value. What is one of those opportunities?

venture team

Neveah works in research and development at a consumer products firm. She meets up with Sergio, who works in finance, Arun, who works in production, and David, who works in marketing. Together they are going to develop a new product that Neveah's department had researched. They are responsible for all aspects of developing the product. This is an example of a _______.

lifestyles

Nike is updating data about its many marketing segments for athletic shoes. The company uses a number of variables for segmenting the athletic shoe market, but is especially interested in consumer patterns of living as expressed through activities, interests, and opinions including the ways people spend time, the extent of their interaction with others, and their general outlook on life. Nike is currently evaluating _______.

globalization

Nike shoes are standardized worldwide. This is likely an example of what?

strategic alliance

Nineteen airlines have partnered, including Air France, Delta, Czech Airlines, Air Europa, China Eastern, and Kenya Airways, to form SkyTeam. SkyTeam was developed to increase connectivity to destinations worldwide. Each airline operates as its own firm—SkyTeam is meant to increase opportunities for all firms involved. In fact, many airlines serve the same areas. This partnership is most likely a(n) _______.

Refraining from giving out personal information unless the site is legitimate

Noel is concerned that she may be at risk for fraudulent activity based on her web activity. She decided to rethink the way she handles her privacy online. What is probably the best way for consumers to combat fraudulent activities?

Screening

Pinnacle Corp. is going through the new product development process and is selecting ideas with the greatest potential for development for further review. Pinnacle is in which phase of the new product development process?

product deletion

Procter & Gamble is in the process of eliminating products from the product mix because they no longer satisfy a sufficient number of customers. This is best described as _______.

Searching for and evaluating potential products and suppliers

Purchasing agents at IniTech are looking in company files, trade directories, and websites, contacting suppliers for information, soliciting proposals from known vendors, and examining various online and print publications. They are in which of the following stages of the buying decision process?

self-concept

REI targets individuals who love and appreciate the outdoors. It therefore appeals to customers who have a(n) _______ as outdoor enthusiasts.

google analytics

Rebecca is starting an online business selling organic dog treats. She is interested in implementing something that will monitor her website and allow her to analyze the performance of her website, gathering valid metrics and understanding the way the strategy meets performance standards or underperforms based on expectations. For example, she wants to see her organic search traffic over time. What should Rebecca implement?

conservative & practical

Refer to Scenario 11.4. In which quadrant would a Ford most likely fit?

safety

Scenario 10.1. Buckyballs was marketed as a desk toy made up of small magnetic spheres. Adults could play with the magnetic spheres and create different shapes. Labeling on Buckyballs packaging clearly stated that this product should be kept away from children. As concerns for safety grew, Buckyballs placed even more warning labels on the packaging. Despite this fact, thousands of children who thought the magnets were candy ingested them. The magnets could cause fatal complications inside the body. If more than one was swallowed, they could attract one another inside the stomach, creating tearing and other complications. Despite all the warnings, the Consumer Product Safety Commission ruled the product was too dangerous and filed a lawsuit. Though Buckyballs magnets were discontinued, they have since returned under the name Zen Magnets. Refer to Scenario 10.1. "Keep Away from Children" was placed on the label of Buckyballs packaging for _______ purposes.

consumer product

Scenario 10.1. Buckyballs was marketed as a desk toy made up of small magnetic spheres. Adults could play with the magnetic spheres and create different shapes. Labeling on Buckyballs packaging clearly stated that this product should be kept away from children. As concerns for safety grew, Buckyballs placed even more warning labels on the packaging. Despite this fact, thousands of children who thought the magnets were candy ingested them. The magnets could cause fatal complications inside the body. If more than one was swallowed, they could attract one another inside the stomach, creating tearing and other complications. Despite all the warnings, the Consumer Product Safety Commission ruled the product was too dangerous and filed a lawsuit. Though Buckyballs magnets were discontinued, they have since returned under the name Zen Magnets. Refer to Scenario 10.1. How should Buckyballs classified?

manufacturer brand

Scenario 10.1. Buckyballs was marketed as a desk toy made up of small magnetic spheres. Adults could play with the magnetic spheres and create different shapes. Labeling on Buckyballs packaging clearly stated that this product should be kept away from children. As concerns for safety grew, Buckyballs placed even more warning labels on the packaging. Despite this fact, thousands of children who thought the magnets were candy ingested them. The magnets could cause fatal complications inside the body. If more than one was swallowed, they could attract one another inside the stomach, creating tearing and other complications. Despite all the warnings, the Consumer Product Safety Commission ruled the product was too dangerous and filed a lawsuit. Though Buckyballs magnets were discontinued, they have since returned under the name Zen Magnets. Refer to Scenario 10.1. What type of brand was Buckyballs?

brand recognition

Scenario 10.2. Oculus, acquired by Facebook, is involved in virtual reality. Its Oculus Rift product is a virtual reality headset released to the public in 2016. Retailers including Best Buy sell the Oculus Rift for approximately $400. A few competitors have emerged to challenge Oculus Rift, including the HTC Vive, Samsung Gear, and Zeiss VR One Plus. Refer to Scenario 10.2. In terms of brand loyalty, at this stage of the product life most consumers will probably have _______ for the Oculus Rift.

introduction stage

Scenario 10.2. Oculus, acquired by Facebook, is involved in virtual reality. Its Oculus Rift product is a virtual reality headset released to the public in 2016. Retailers including Best Buy sell the Oculus Rift for approximately $400. A few competitors have emerged to challenge Oculus Rift, including the HTC Vive, Samsung Gear, and Zeiss VR One Plus. Refer to Scenario 10.2. In which stage of the product life cycle is the Oculus Rift likely to be?

shopping

Scenario 10.2. Oculus, acquired by Facebook, is involved in virtual reality. Its Oculus Rift product is a virtual reality headset released to the public in 2016. Retailers including Best Buy sell the Oculus Rift for approximately $400. A few competitors have emerged to challenge Oculus Rift, including the HTC Vive, Samsung Gear, and Zeiss VR One Plus. Refer to Scenario 10.2. What type of consumer product is the Oculus Rift?

convenience; MRO supplies

Scenario 10.3. Tide Pods was developed to revolutionize the detergent industry and spark new interest in Tide laundry detergent. The colorful pods launched with much fanfare. Customers like the pods because they are less messy and more concentrated than liquid detergent. Originally, the pods were placed in a clear packaging. Other competitors have also released detergent pods due to their popularity. However, since its release there have thousands of incidents with children ingesting the pods and mistaking them as candy. Because of their higher concentration, ingesting the pods can do severe damage and has even led to deaths. Procter & Gamble responded by changing the packaging so that it is no longer transparent. It also made the packages harder to open. Refer to Scenario 10.3. Tide Pods would most likely be classified as a(n) _______ product. However, suppose a hotel uses Tide Pods to wash its sheets and towels. In this case, Tide Pods would be classified as _______.

maturity stage

Scenario 10.3. Tide Pods was developed to revolutionize the detergent industry and spark new interest in Tide laundry detergent. The pods launched with much fanfare. Customers like the pods because they are less messy and more concentrated than liquid detergent. Originally, the pods were placed in a clear packaging. Other competitors have also released detergent pods due to their popularity. However, since its release there have thousands of incidents with children ingesting the pods and mistaking them as candy. Because of their higher concentration, ingesting the pods can do severe damage and has even led to deaths. Procter & Gamble responded by changing the packaging so that it is no longer transparent. It also made the packages harder to open. Refer to Scenario 10.3. Tide holds a large market share in the laundry detergent industry. However, Tide has been on the market for many years. Procter & Gamble was hoping that its pods would bring new life to its product and excite consumers once more. Tide laundry detergent is most likely in what stage of the product life cycle?

innovative

Scenario 10.3. Tide Pods was developed to revolutionize the detergent industry and spark new interest in Tide laundry detergent. The pods launched with much fanfare. Customers like the pods because they are less messy and more concentrated than liquid detergent. Originally, the pods were placed in a clear packaging. Other competitors have also released detergent pods due to their popularity. However, since its release there have thousands of incidents with children ingesting the pods and mistaking them as candy. Because of their higher concentration, ingesting the pods can do severe damage and has even led to deaths. Procter & Gamble responded by changing the packaging so that it is no longer transparent. It also made the packages harder to open. Refer to Scenario 10.3. When first released, Tide Pods caught consumers' attention because the detergent was placed into a small orange "pod" that users could throw into their washing machine. This eliminated the need to measure and pour out messier liquid detergent. Tide Pods likely represent what type of packaging?

evaluation

Scenario 10.3. Tide Pods was developed to revolutionize the detergent industry and spark new interest in Tide laundry detergent. The pods launched with much fanfare. Customers like the pods because they are less messy and more concentrated than liquid detergent. Originally, the pods were placed in a clear packaging. Other competitors have also released detergent pods due to their popularity. However, since its release there have thousands of incidents with children ingesting the pods and mistaking them as candy. Because of their higher concentration, ingesting the pods can do severe damage and has even led to deaths. Procter & Gamble responded by changing the packaging so that it is no longer transparent. It also made the packages harder to open. Refer to Scenario 11.3. Melinda hates using liquid laundry detergent. She heard about Tide Pods from a friend and did some research. She likes what she learns, but she is concerned about all the incidents where children have accidentally swallowed the pods. She has two young children herself. Melinda begins weighing the pros and cons of Tide Pods versus the liquid laundry detergent. Melinda is in what stage of the product adoption process?

quality modification

Scenario 11.1. During the last recession, sales for many companies plummeted. The rate of unemployment grew substantially. As a result, Procter & Gamble (P&G) decided to release a cheaper, more basic version of its Tide product. This lower-priced Tide Basic lacked some of the cleaning features of its more expensive counterpart, but P&G thought it would be good for cash-strapped consumers. P&G tried out Tide Basic in 100 stores in the South for about six months. The product failed to take off, and P&G discontinued Tide Basic. A few years later it tried again with another less expensive Tide product called Simply Tide. Refer to Scenario 11.1. P&G had to modify its Tide product to appeal to this new demographic. What type of product modification did it make?

product positioning

Scenario 11.1. During the last recession, sales for many companies plummeted. The rate of unemployment grew substantially. As a result, Procter & Gamble (P&G) decided to release a cheaper, more basic version of its Tide product. This lower-priced Tide Basic lacked some of the cleaning features of its more expensive counterpart, but P&G thought it would be good for cash-strapped consumers. P&G tried out Tide Basic in 100 stores in the South for about six months. The product failed to take off, and P&G discontinued Tide Basic. A few years later it tried again with another less expensive Tide product called Simply Tide. Refer to Scenario 11.1. P&G marketed Tide Basic as a detergent that could perform the basic functions of its signature Tide products at a lower price to the consumer. This was an attempt to create a concept of the product in customers' minds. This is referred to as _______.

test marketing

Scenario 11.1. During the last recession, sales for many companies plummeted. The rate of unemployment grew substantially. As a result, Procter & Gamble (P&G) decided to release a cheaper, more basic version of its Tide product. This lower-priced Tide Basic lacked some of the cleaning features of its more expensive counterpart, but P&G thought it would be good for cash-strapped consumers. P&G tried out Tide Basic in 100 stores in the South for about six months. The product failed to take off, and P&G discontinued Tide Basic. A few years later it tried again with another less expensive Tide product called Simply Tide. Refer to Scenario 11.1. What stage of the product development process was P&G in when it decided to discontinue Tide Basic?

styling

Scenario 11.2. In Australia Coca-Cola launched Mother, an energy drink. However, most people did not like the taste. Rather than introducing an entirely new product, Coca-Cola decided to reposition the product. It reformulated the Mother drink and re-released it with a new marketing campaign. Refer to Scenario 11.2. By using a larger can size and different colors, Coca-Cola is changing the _______ of the product.

aesthetic

Scenario 11.2. In Australia Coca-Cola launched Mother, an energy drink. However, most people did not like the taste. Rather than introducing an entirely new product, Coca-Cola decided to reposition the product. It reformulated the Mother drink and re-released it with a new marketing campaign. Refer to Scenario 11.2. In repositioning the product, Coca-Cola changed the taste of the product. It also changed the look of the product with a larger can size and different colors. This is an example of a(n) _______ modification.

"New Mother—Tastes Nothing Like the Old One"

Scenario 11.2. In Australia Coca-Cola launched Mother, an energy drink. However, most people did not like the taste. Rather than introducing an entirely new product, Coca-Cola decided to reposition the product. It reformulated the Mother drink and re-released it with a new marketing campaign. Refer to Scenario 11.2. Which of the following slogans should Coca-Cola use to signal to consumers that its Mother drink has been repositioned?

concept testing

Scenario 11.3. Nari works in the production department for a manufacturer of coffee equipment. A new promising product idea the company is considering involves the development of simple pour-over coffee makers. These coffee makers would be made of wood with a cotton drip bag, similar to what is known in Costa Rica as chorreadores. Nari's firm thinks this type of product can catch on in the United States because they are exotic and environmentally friendly. Refer to Scenario 11.3. Nari is working with a team to determine the feasibility of the product. Together with her team, she shows a small group of avid coffee customers a written description as well as a photo of the proposed product. She hopes to determine whether they would buy the product and what they think about it. Nari and her team are at what stage in the product development process?

product design

Scenario 11.3. Nari works in the production department for a manufacturer of coffee equipment. A new promising product idea the company is considering involves the development of simple pour-over coffee makers. These coffee makers would be made of wood with a cotton drip bag, similar to what is known in Costa Rica as chorreadores. Nari's firm thinks this type of product can catch on in the United States because they are exotic and environmentally friendly. Refer to Scenario 11.3. Nari is working with a team to develop the product. It has identified a sustainable teak wood and designed a unique cotton drip bag for the coffee maker. It has also identified several potential manufacturers in Central America. Nari's company is currently working on the _______ for the pour-over coffee maker.

run-out

Scenario 11.3. Nari works in the production department for a manufacturer of coffee equipment. A new promising product idea the company is considering involves the development of simple pour-over coffee makers. These coffee makers would be made of wood with a cotton drip bag, similar to what is known in Costa Rica as chorreadores. Nari's firm thinks this type of product can catch on in the United States because they are exotic and environmentally friendly. Refer to Scenario 11.3. Nari's firm released the pour-over coffeemaker, and it became a hit among a niche group of avid coffee fans. For a few years sales were high. Eventually, however, sales peaked and started to decline. Nari's firm realizes the coffeemaker still has a small following of dedicated customers. They plan to move on to a more advanced pour-over coffeemaker, but in the meantime they plan to emphasize the core strengths of the current coffeemaker, including the fact that it is so sustainable. This is an example of what type of product deletion?

consideration set

Scenario 6.1. Aleksi has made the decision that it is time to purchase a condo. His apartment is too small, and he is tired of paying rent. His price range is between $200,000 and $250,000. He would like to purchase a condo that is within a half hour of his work. With these criteria set in mind, he sets out to search for his ideal home. Refer to Scenario 6.1. Suppose that after an extensive search Aleksi has narrowed down his decision to three condos. All fall within his price range, and all of them are in a desirable location in town. These three condos are now a part of Aleksi's _______.

extended decision making

Scenario 6.1. Aleksi has made the decision that it is time to purchase a condo. His apartment is too small, and he is tired of paying rent. His price range is between $200,000 and $250,000. He would like to purchase a condo that is within a half hour of his work. With these criteria set in mind, he sets out to search for his ideal home. Refer to Scenario 6.1. What type of decision making will this purchase most likely involve?

aspirational reference group

Scenario 6.2. Catalina is a mother of three children and works as a financial analyst for a large banking firm. In her free time, Catalina is usually looking through parenting blogs or reading books about how to be a better parent. One person she really admires is parenting expert Rochelle Davis. Rochelle has written a best-selling parenting book and maintains a popular blog. She stays up to date on current trends and is the go-to person for new products geared toward children. Catalina views Rochelle as a role model and wants to be like her. Refer to Scenario 6.2. Catalina greatly admires Rochelle Davis and those like her. She views them as a(n) _______ that she wants to emulate and be like.

wife dominant

Scenario 6.2. Catalina is a mother of three children and works as a financial analyst for a large banking firm. In her free time, Catalina is usually looking through parenting blogs or reading books about how to be a better parent. One person she really admires is parenting expert Rochelle Davis. Rochelle has written a best-selling parenting book and maintains a popular blog. She stays up to date on current trends and is the go-to person for new products geared toward children. Catalina views Rochelle as a role model and wants to be like her. Refer to Scenario 6.2. Catalina's husband tends to defer to Catalina for most family purchase decisions, especially knowing how much effort she puts into researching them. Although he tends to make purchase decisions related to items that he wants to buy for himself, Catalina makes the remaining purchase decisions for herself, her children, and the household in general. When it comes to purchase decisions, Catalina's family is _______.

Opinion leader

Scenario 6.2. Catalina is a mother of three children and works as a financial analyst for a large banking firm. In her free time, Catalina is usually looking through parenting blogs or reading books about how to be a better parent. One person she really admires is parenting expert Rochelle Davis. Rochelle has written a best-selling parenting book and maintains a popular blog. She stays up to date on current trends and is the go-to person for new products geared toward children. Catalina views Rochelle as a role model and wants to be like her. Refer to Scenario 6.2. Rochelle Davis' blog is so popular that a local children's toy company regularly sends her product samples in the hopes she will give them a positive review on her blog. Rochelle is most likely which of the following for the local children's toy company?

selective distortion

Scenario 6.2. Catalina is a mother of three children and works as a financial analyst for a large banking firm. In her free time, Catalina is usually looking through parenting blogs or reading books about how to be a better parent. One person she really admires is parenting expert Rochelle Davis. Rochelle has written a best-selling parenting book and maintains a popular blog. She stays up to date on current trends and is the go-to person for new products geared toward children. Catalina views Rochelle as a role model and wants to be like her. Refer to Scenario 6.2. Suppose Catalina is out shopping for children's clothes with one of her friends. When Catalina mentions how much she admires Rochelle Davis, her friend replies that she heard Rochelle is being investigated for allegedly plagiarizing some of her books. Catalina tells her friend she must be mistaken as Rochelle has too much integrity to do such a thing. She argues that other people are just jealous because their books are not as popular. This is an example of which of the following?

time dimension

Scenario 6.3. Jiao just got the news that she got passed over for a job she wanted. Now she is at a shopping center looking for a gift for her best friend's birthday. She is in a bad mood and does not want to be there. It's the holiday season, so the store is very crowded. After searching for a long time at a jewelry store, she finally finds the necklace her friend wanted. Jiao thinks the necklace is too expensive and is not even that attractive, but she buys it because she knows her best friend likes it. Refer to Scenario 6.3. Jiao wants to stop by her favorite bookstore before it closes in 15 minutes. However, because she is thirsty, she decides to stop quickly for a drink. She heads over to Boba Tea but notices the line is very long. She notices there is hardly anyone in the Starbucks line and decides to get a latte instead, even though she would have preferred a tea. Which situational factor most contributed to Jiao's purchase?

reason for purchase

Scenario 6.3. Jiao just got the news that she got passed over for a job she wanted. Now she is at a shopping center looking for a gift for her best friend's birthday. She is in a bad mood and does not want to be there. It's the holiday season, so the store is very crowded. After searching for a long time at a jewelry store, she finally finds the necklace her friend wanted. Jiao thinks the necklace is too expensive and is not even that attractive, but she buys it because she knows her best friend likes it. Refer to Scenario 6.3. Which situational factor most contributed to Jiao's purchase?

modified rebuy purchase

Scenario 7.1. Levi owns a store that sells cooking products to end consumers. He has worked with the same supplier for many years and trusts the supplier completely. Whenever Levi needs to order new inventory from his supplier, he sends them information specifying the type of product, the quantity, the color, and some general quality characteristics. Levi has been with his supplier for years and knows how thorough they are. Finding defective products is so rare that Levi doesn't even bother examining the shipment, other than to make sure the products adhere to the standards specified. Refer to Scenario 7.1. Levi is getting ready to order another shipment of frying pans. However, he wants to switch from cast iron to aluminum. What type of purchase is Levi using?

reseller

Scenario 7.1. Levi owns a store that sells cooking products to end consumers. He has worked with the same supplier for many years and trusts the supplier completely. Whenever Levi needs to order new inventory from his supplier, he sends them information specifying the type of product, the quantity, the color, and some general quality characteristics. Levi has been with his supplier for years and knows how thorough they are. Finding defective products is so rare that Levi doesn't even bother examining the shipment, other than to make sure the products adhere to the standards specified. Refer to Scenario 7.1. Levi is operating in which type of market?

retail website

Scenario 7.1. Levi owns a store that sells cooking products to end consumers. He has worked with the same supplier for many years and trusts the supplier completely. Whenever Levi needs to order new inventory from his supplier, he sends them information specifying the type of product, the quantity, the color, and some general quality characteristics. Levi has been with his supplier for years and knows how thorough they are. Finding defective products is so rare that Levi doesn't even bother examining the shipment, other than to make sure the products adhere to the standards specified. Refer to Scenario 7.1. Levi regularly orders office and shipping supplies from Amazon Business as the prices are reasonable and the products ship to him within two to three days. In this case Amazon Business is a(n) _______.

institutional

Scenario 7.1. Levi owns a store that sells cooking products to end consumers. He has worked with the same supplier for many years and trusts the supplier completely. Whenever Levi needs to order new inventory from his supplier, he sends them information specifying the type of product, the quantity, the color, and some general quality characteristics. Levi has been with his supplier for years and knows how thorough they are. Finding defective products is so rare that Levi doesn't even bother examining the shipment, other than to make sure the products adhere to the standards specified. Refer to Scenario 7.1. Suppose a church representative stops by looking for a coffee maker. They want to buy the coffee maker with church funds and use it to brew fresh coffee for church visitors. They are a part of which market?

interpersonal factors

Scenario 7.1. Levi owns a store that sells cooking products to end consumers. He has worked with the same supplier for many years and trusts the supplier completely. Whenever Levi needs to order new inventory from his supplier, he sends them information specifying the type of product, the quantity, the color, and some general quality characteristics. Levi has been with his supplier for years and knows how thorough they are. Finding defective products is so rare that Levi doesn't even bother examining the shipment, other than to make sure the products adhere to the standards specified. Refer to Scenario 7.1. What type of factors likely influenced Levi as the chief decision maker for his company to remain with the supplier?

description

Scenario 7.1. Levi owns a store that sells cooking products to end consumers. He has worked with the same supplier for many years and trusts the supplier completely. Whenever Levi needs to order new inventory from his supplier, he sends them information specifying the type of product, the quantity, the color, and some general quality characteristics. Levi has been with his supplier for years and knows how thorough they are. Finding defective products is so rare that Levi doesn't even bother examining the shipment, other than to make sure the products adhere to the standards specified. Refer to Scenario 7.1. Which method of buying does Levi use?

corporate website

Scenario 7.2. Christina manages the accounting department of a consumer electronics firm. She recently sent in a request to purchase 50 new computers for her accounting staff because the computers they are working on are outdated. Miguel was given the task of choosing the supplier and purchasing the products. Since Miguel is not as knowledgeable about computers, he turns to Natalia, who works in IT, for advice. Natalia knows all about the latest computers, systems, and software. With Natalia's help, Miguel looks at the alternatives and selects Dell as their supplier. Refer to Scenario 7.2. After Miguel chooses Dell as the supplier, Christina orders 50 computers from Dell.com, which offers special access through a password-protected portal to B2B customers where they can track orders, see past orders, and access relevant information. In this case Dell.com is a(n) _______.

gatekeeper

Scenario 7.2. Christina manages the accounting department of a consumer electronics firm. She recently sent in a request to purchase 50 new computers for her accounting staff because the computers they are working on are outdated. Miguel was given the task of choosing the supplier and purchasing the products. Since Miguel is not as knowledgeable about computers, he turns to Natalia, who works in IT, for advice. Natalia knows all about the latest computers, systems, and software. With Natalia's help, Miguel looks at the alternatives and selects Dell as their supplier. Refer to Scenario 7.2. Assume that Lenovo wants to reach the deciders and purchasers in Christina's organization because it would like to supply the next order of computers. Before it can reach Miguel, however, Lenovo must first schedule an appointment with his receptionist, who has worked at the firm for 20 years. It would be wise for Lenovo not to underestimate the receptionist as they most likely act as a(n) _______.

decider and buyer

Scenario 7.2. Christina manages the accounting department of a consumer electronics firm. She recently sent in a request to purchase 50 new computers for her accounting staff because the computers they are working on are outdated. Miguel was given the task of choosing the supplier and purchasing the products. Since Miguel is not as knowledgeable about computers, he turns to Natalia, who works in IT, for advice. Natalia knows all about the latest computers, systems, and software. With Natalia's help, Miguel looks at the alternatives and selects Dell as their supplier. Refer to Scenario 7.2. In this example of a buying center, which roles is Miguel occupying?

buyer; influencer

Scenario 7.2. Christina manages the accounting department of a consumer electronics firm. She recently sent in a request to purchase 50 new computers for her accounting staff because the computers they are working on are outdated. Miguel was given the task of choosing the supplier and purchasing the products. Since Miguel is not as knowledgeable about computers, he turns to Natalia, who works in IT, for advice. Natalia knows all about the latest computers, systems, and software. With Natalia's help, Miguel looks at the alternatives and selects Dell as their supplier. Refer to Scenario 7.2. Miguel is the _______ in the buying center, while Natalia acts as a(n) _______.

contract manufacturing; direct ownership

Scenario 8.1. Logitech is a computer peripherals company that was founded in Switzerland in 1981. From the outset, the founders realized they would need to expand internationally if they wanted to compete in the market. Soon it had offices and/or factories in Switzerland, Taiwan, China, the United States, and Ireland. Its corporate headquarters is in Silicon Valley, but it maintains a factory in China. Eight years after it was founded, Logitech had captured 30 percent of the market share in the computer peripherals industry. Refer to Scenario 8.1. Logitech has many of its products built in China using third parties. However, it has also built its own factories to protect some of its manufacturing trade secrets. Logitech uses a combination of _______ and _______ when manufacturing products.

born global

Scenario 8.1. Logitech is a computer peripherals company that was founded in Switzerland in 1981. From the outset, the founders realized they would need to expand internationally if they wanted to compete in the market. Soon it had offices and/or factories in Switzerland, Taiwan, China, the United States, and Ireland. Its corporate headquarters is in Silicon Valley, but it maintains a factory in China. Eight years after it was founded, Logitech had captured 30 percent of the market share in the computer peripherals industry. Refer to Scenario 8.1. Logitech would most likely be categorized as a _______ firm.

youtube

Scenario 9.1. Iftikhar works for a marketing analytics company. Iftikhar has turned to social media to spread the word about a new ebook that company has published about the benefits of mobile marketing. He created a landing page on the company's website dedicated to the ebook and encourages users to ask questions. Refer to Scenario 9.1. Iftikhar develops a short informational video describing the benefits of mobile marketing. He wants to put it on a video sharing site that will reach as many people as possible. He should probably upload it on _______.

interactivity

Scenario 9.1. Iftikhar works for a marketing analytics company. Iftikhar has turned to social media to spread the word about a new ebook that company has published about the benefits of mobile marketing. He created a landing page on the company's website dedicated to the ebook and encourages users to ask questions. Refer to Scenario 9.1. On the landing page, Iftikhar encourages users to ask questions and provide their input. He also provides contact information for his firm if users are interested in marketing analytics services. Iftikhar actively monitors the site so he can immediately answer questions or comments that internet users pose. He wants users to feel comfortable expressing their needs directly. This involves which characteristic of digital marketing?

blog

Scenario 9.1. Iftikhar works for a marketing analytics company. Iftikhar has turned to social media to spread the word about a new ebook that company has published about the benefits of mobile marketing. He created a landing page on the company's website dedicated to the ebook and encourages users to ask questions. Refer to Scenario 9.1. Suppose Iftikhar decides to develop a web-based journal in which writers can editorialize and interact with other internet users. This would be an example of a _______.

Addressability

Scenario 9.2. Osvaldo works for a firm that wants to use digital networking sites such as Facebook, blogs, review sites, and more to target consumers on a global scale. Recently, his firm has expanded into a new foreign market. Osvaldo has looked at the market and has found that the majority of the population is active on the internet. He is looking for the least expensive way to target these customers. Refer to Scenario 9.2. If Osvaldo were to have cookies installed on the users' computers, they would be able to detect when the user revisits the site. This demonstrates which of the following characteristics of digital marketing?

promotion; price

Scenario 9.2. Osvaldo works for a firm that wants to use digital networking sites such as Facebook, blogs, review sites, and more to target consumers on a global scale. Recently, his firm has expanded into a new foreign market. Osvaldo has looked at the market and has found that the majority of the population is active on the internet. He is looking for the least expensive way to target these customers. Refer to Scenario 9.2. Suppose Osvaldo wants to attract more users to his company's products. He decides to do two things. First, he develops an online contest and posts it on the corporate blog and Facebook page. He believes the contest will encourage consumers in that country to spread the word. Secondly, he would like to offer them a temporary discount on products purchased within the next week. Osvaldo is focusing on the _______ and _______ aspects of the e-marketing mix.

conversions

Scenario 9.3. Foster works for a company that sells Dungeons and Dragons miniatures. He was tasked with improving the performance of the company's website and increasing web sales. Several months ago, Foster implemented Google Analytics to monitor the company's web traffic. Refer to Scenario 9.3. Foster creates a popup window that asks for users to sign up for his company's email newsletter. He refers to the _______ section to see how many people have signed up.

Behavior

Scenario 9.3. Foster works for a company that sells Dungeons and Dragons miniatures. He was tasked with improving the performance of the company's website and increasing web sales. Several months ago, Foster implemented Google Analytics to monitor the company's web traffic. Refer to Scenario 9.3. Foster is interested to know which products have the most views. Which section should he refer to in his Google Analytics account?

downloading content for personal gain

Several college students are caught illegally downloading music from their dorm rooms. The students face a peer review board, and only one of the illegal downloaders is punished. Consumers tend to view certain behaviors as less ethically acceptable regarding illegally downloading protected content from the internet. Which behavior do you think motivated the student who received a punishment?

family packaging

Smart Ones TV dinners come in red boxes with many of the same elements. Each box features the giant "Smart Ones" brand name at the top. This is an example of _______.

born global

Spotify is a digital music service based in Sweden. Spotify was created when music industry revenue was in decline. From the start, Spotify intended to be an international music streaming service, securing agreements with the four largest U.S. record labels. Spotify quickly ramped up international expansion. Spotify would most likely be categorized as a(n) _______ firm.

licensing

Starbucks offers _______ agreements for many of its stores which include equipment, training, and support. In this type of agreement, Starbucks receives commissions or royalties on sales.

It facilitates all marketing aspects of a transaction.

Stephanie works for a company that manufactures purses and is considering employing a trading company to reduce the risk of getting involved in international marketing. What is one of the benefits of using a trading company?

innovator; late majority

Sulbha loves to try new products because she gets a thrill from it. Even though some of the products she adopted turned out to be failures, Sulbha is willing to take the risk. She needs to be the first one to own the newest products! Her cousin Melanie, however, is generally suspicious about new products. For instance, when the iPad first came out, Melanie was highly skeptical. Even when Sulbha assured her that it was a good product, Melanie was not certain. Finally, after a few years and lots of encouragement from Sulbha, Melanie decided to purchase the newest iPad. Sulbha is most likely in the _______ category, while Melanie is most likely in the _______ category of product adopters.

negotiation

Suppose the government wants to hire a firm to build a new road. What method of business buying will it most likely use?

GDP per capita

Switzerland is much smaller than the United States but its population density is much greater. Although Switzerland's GDP is much smaller than the United States' GDP, its _______ is slightly higher.

The consumer now has unprecedented access to online pricing information, so differentiation is necessary to remain competitive.

Tamesha finds a dining room table on Wayfair that she is interested in purchasing. After a quick search, she finds a similar dining room table available on another furniture website, Houzz. The items are the same color and are made of the same materials. The websites even have similar free shipping offers. Tamesha chooses to purchase from Houzz because the price is slightly lower. Why must online marketers strive to differentiate their products from competitors—even more so than they might have to do with more traditional marketing channels?

Commercialization

The Amazon Echo is a voice-enabled smart speaker. It has been in development since 2010. It was introduced in 2014 but only to Amazon Prime members for purchase. Amazon expanded in 2015 and became the Echo available in stores nationwide. What stage in the product development process was Amazon Echo in 2015?

brand mark

The Double-A of American Airlines, the peacock of NBC, and the apple with a missing bite of Apple are examples of a _______.

idea

The Red Cross raises money to help people survive natural and manmade disasters. The Red Cross can best be described as a(n) _______.

environmental forces

The sales department of a consumer products organization realized that its rivals are adopting new customer relationship management software to keep better track of their prospects. The director of the sales department decided it would also purchase the CRM software to keep up with its rivals. This is an example of what type of force affecting business buying behavior?

Intangibility

Traveler's Insurance uses an umbrella in its name to symbolize protection. The symbol provides a cue to overcome which aspect of a service?

consumer fraud

Using fraudulently obtained credit cards, debit cards, checks, or bank accounts and making false insurance claims are examples of _______.

product

Volition, a skin care and cosmetics company, crowdsources its new product ideas from its customers. Its community votes online whether the idea should be produced. Which variable of the marketing mix is impacted by digital media in this case?

private B2B exchange

Walmart implemented an online system for its supply chain called RetailLink. RetailLink is a secure system that permits all suppliers and others to facilitate exchanges and share information on purchasing, inventory, negotiating, and more. It also allows its suppliers to get information on inventory levels and sales from different Walmart stores. This is an example of a(n) _______.

snapchat

Waylon works for a company that produces temporary tattoos. His company wants to reach a young, highly engaged target market. His company currently has a profile on every major social media platform, but Waylon has been instructed to invest more resources into one platform. Which platform should Waylon focus on?

Categorize organizations consistently into groups based on such factors as the types of goods and services provided

What can industry classification systems do for the marketer?

Steam provides gamers access to thousands of video games for PC and Mac. The games are downloaded from Steam to the user's computer.

What is an example of a product that is accessible only on the internet?

purchase

What is the latest stage during which a buyer can terminate the buying decision process?

line extension

When Cheetos developed a new "cheesy" flavor, Cheddar Jalapeno Crunchy Cheetos, it was an example of a _______.

brand extension

When Dyson, best known for its revolutionary vacuum cleaner, introduced the Dyson Supersonic hair dryer, it used _______.

functional modifications

When automakers started installing Bluetooth in cars, this was an example of _______.

selective exposure

When you are using the internet to research a school project, and you ignore the banner ads on websites even though you see them flashing on the page, you are probably engaging in the process of _______.

Conducting a review to determine its impact on the overall product mix

Which is the best way to handle the deletion of a product?

spark plugs

Which of the following are most likely to face joint demand?

Proctor and Gamble

Which of the following companies are most likely to use individual branding?

Lockheed Martin

Which of the following companies would be most likely to target government markets?

The Asia-Pacific Economic Cooperation (APEC)

Which of the following differs from other international trade alliances in its commitment to facilitating business and its practice of allowing the business/private sector to participate in a wide range of activities?

An increase in coffee drinking is prompting coffee shops to order more coffee grinders.

Which of the following is an example of derived demand?

skype

Which of the following is most likely to be a born global firm?

Orders are frequently small and inexpensive.

Which of the following is not one of the ways that business transactions differ from consumer transactions?

Lower literacy rates in Africa mean that much of the packaged food sold in stores has pictures on their labels of what is inside the package. Several consumers avoided buying Gerber baby food because they thought the drawing of the baby on the label meant it was made of baby meat.

Which of the following represents a sociocultural barrier?

calculator

Which of the following would be an example of accessory equipment?

smart watch

Which of the following would be an example of digital media that marketers can use for promotional purposes?

Internal information search

You are thinking about buying a tablet to help with your classes and for entertainment purposes. When you search your memory for information about products that might address these needs, you are engaging in which aspect of the consumer buying decision process?

Key performance indicators (KPIs)

Yvone is the new social media manager for a company that has never had a social media presence in the past. Her first project is to create a social media strategy. Which of the following should Yvone embed at the onset of her social media strategy that can allow almost real-time measurement and evaluation?

a mobile application (app)

Zynga creates games that are downloaded to mobile devices. What is this type of software called?

international marketing

_______ involves developing and performing marketing activities across national boundaries.

connectivity

A company that produces blood glucose meters created an online forum where people can interact and ask questions about the company's products. Luciana loves to participate in online forums and is a long-time user of the company's products, so she joins and often reads and comments on other people's posts. This ability Luciana has to communicate with other consumers and the company through this online forum is an example of what characteristic?

producer

A janitorial service firm purchases Clorox supplies to use in cleaning places like schools and office buildings. This type of customer would be an example of what type of market for Clorox?

technological forces

A new social media network based in Sweden, where social media and internet usage is very high, decides to expand its footprint. It already saturated countries like Australia, the United States, Canada, and Spain. The company briefly considered expanding into Egypt but decided against it when it learned smartphone penetration is very low in Egypt. What environmental force is impacting this marketing decision?

outsourcing

A robotics company hires a marketing firm to take care of its social media presence. This is an example of _______.

widget

A weather news channel launched a small bit of software users could download to their computer. This software would provide continual news updates about the weather forecast, including storm alerts, and links users directly to the company's homepage. This is most likely which of the following?

modified rebuy purchase

ACE Corp. has ordered fasteners from Titan Fittings several times before, but now it would like Titan to offer a lower per-unit price in exchange for a larger order. ACE is using which of the following types of business purchases?

supplemental features

Ahmed enjoys going to the local zoo. He does not like the price of the zoo food and beverages, however, as they are much more expensive than food in other places. When he does buy a drink, he usually goes for the extra-large one because it comes in a souvenir cup that he gets to keep. The souvenir cup represents which of the following?

distribution

Amazon has expanded into door-to-door deliveries of groceries. Users can order groceries on Amazon's website in select markets and have groceries delivered to their door. Which variable of the marketing mix is impacted by digital media in this case?

Federal Trade Commission (FTC)

Amy is a renowned food blogger. She is sent a free mixer from KitchenAid and is paid to promote the brand on social media. As is required by the _______, Amy clearly discloses her relationship with the brand by using #ad on all her content.

demand-based pricing

Around the holidays, airline tickets tend to increase. What type of pricing are the airlines most likely using to determine how much they will charge customers at this time?

impulse buying

As Darby stands in line at the grocery store, he notices a new flavor of gum on the nearby stand. He grabs the gum and throws it in the cart. What type of behavior is Darby exhibiting?

brand managers

Assume that Coca-Cola has a manager for Powerade, a manager for Coca-Cola, a manager for Fairlife, and a manager for SmartWater. What types of managers are these?

sociocultural forces

Because South Africans are used to hot porridge for breakfast, many of them boiled Kellogg's corn flakes and ruined the cereal. To adapt, Kellogg's reformulated the product and released Corn Flakes Instant Porridge to the South African market. What environmental force did Kellogg's overcome?

depth of product mix

Belle Meade sells different kinds of wine. Under its white wine product line, it sells four products—Carriage House White, Celebration Riesling, Race Day White 2016, and Lady's Cuvee. This is an example of _______.

shaping

Cholula Hot Sauce, a Mexican made chili-based sauce brand, is introducing a new hot sauce flavor and wants to use its owners' understanding of its target market to promote the sauce successfully. The company is sampling the new sauce at a number of supermarkets in Texas, where there are multiple market segments likely to enjoy hot sauces. Cholula's goal is to give customers experience with the new hot sauce flavor to reduce their risk of purchase and thereby increase trial purchases. The tactic that Cholula is using is called _______.

dumping

Companies from Malaysia were accused of selling clear float glass, which is used in cars, to companies in India at incredibly low rates. These rates were considered unfair because the price was lower in the foreign market than it was in the domestic market. This practice is known as _______.

independent B2B exchange

Companies like Target and JCPenney sometimes participate in a(n) _______ for the retail industry, which acts as a neutral third party and charges a fee for providing a trading forum.

aspirational reference group

Companies often use celebrities popular with their target market to promote their products. In this case, the celebrities represent a(n) _______.

quota

Crisanto's company just started exporting cheddar cheese to the United States. Unlike some of the other countries that it trades with, there is a set limit to how much cheddar cheese it can export to the United States without paying higher tariff rates. Crisanto is confused about this and asks his manager about it. His manager replies that the United States has a(n) _______ on cheddar cheese.

width of product mix

Cummins has multiple product lines that it categorizes into engines, power generation, fuel systems, turbo technologies, filtration, and emissions solutions. This would be an example of which of the following?

a phase-out

DVD players have been declining for years. Recognizing that DVD players are a thing of the past, those who manufactured DVD players have not attempted to make any changes but are letting them live out the remainder of their lives. The makers of DVD players have new technology to explore and do not want to waste resources trying to prolong the life of an obsolete technology. This is an example of _______.

social surroundings

Darrell went to a restaurant where the beer was mediocre and the place was run down. The restaurant was out of many of its more popular menu items. Yet Darrell remembered the restaurant fondly because he had dinner with the woman that he would end up dating steadily. They really hit it off that night. A few months later he decides to return to the restaurant, only to find that he was disappointed in the food and service. He thinks it's strange because he had such a good experience last time. What situational factor likely influenced Darrell's first experience?

media allocation

Deja was hired as the international marketing manager of a personal care company that plans to expand internationally. She has been tasked with standardizing the company's practices across all countries. Which of the following would likely be the hardest for Deja to standardize?

the European Union (EU)

Estonia is a member of this trading bloc, _______, which has a shared currency across most of its countries. Additionally, many of the governments in this trading bloc are similar in form.

Disney World

Experiential or symbolic benefits are most important to which of the following?

situational involvement

Fahad's lawnmower stopped working midway through mowing his front yard. His interest in researching replacement lawnmower brands is most likely to be _______.

reverse auction

FedBid is used by businesses that want to supply goods and services to government agencies. When an agency needs a product, it invites businesses to bid to supply the specified good or service in competition with each other, and the lowest bidder wins the contract to supply the product. FedBid is a(n) _______.

an internal search; an external search

Felipe is out shopping for a motorcycle. He sees a motorcycle he really likes, but he seems to remember reading something about its gas mileage. He racks his brain trying to remember but is unable to recall the information. He therefore decides to come back another day. He goes home and researches the motorcycle on the internet. During his information search, Felipe performed _______ and then _______.

Intangibility

Fidelity Investments is one of the largest mutual fund and brokerage services providers worldwide. It has various offices in cities across the United States. In each office customer, contact personnel have a well-groomed, professional appearance. The inside of the office is clean and attractive. These visible cues are an attempt to deal with the problem of _______ common to service organizations.

living room curtains

For which of the following products would a consumer most likely use limited decision making in a purchase situation?

analytics

Global firms used advanced _______ to target markets, develop social media, track products in the supply chain, and enable robots and drones to perform tasks that provide customer service.

They are attempting to engage in self-regulation.

Google has encountered many data privacy issues internationally. What are Web advertisers, such as Google, attempting to do in order to prevent regulation that would limit the information they can collect on users?

producer market

Gorton's buys large amounts of fish to use in its frozen dinners and dinner components. Gorton's belongs in which of the following markets?

product line

Herbalife24 includes products developed for athletes in Canada. Herbalife is a weight management and nutrition products company known for marketing products to customers for a healthier lifestyle. Athletes are just one of the groups that Herbalife targets. Herbalife24 is most likely a _______.

Looking for recommendations on social media

How can consumers reduce their risk of buying an unknown product?

process materials

Huy Fong is buying peppers and vinegar to make its iconic Sriracha sauce. For Huy Fong, these are best described as _______.