MKT245 Exam 2

Most large companies research ________ buying decisions to find out what they buy, where they buy, how and how much they buy, when they buy, and why they buy. A) market B) permanent C) consumer D) social E) group

C) consumer

Market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each is known as​ ________.

differentiated marketing

When consumers are highly involved with an​ expensive, infrequent, or risky purchase but see little difference among​ brands, they most likely will exhibit​ ________.

dissonance-reducing buying behavior

Which adopter group is made up of opinion leaders in their communities and who adopt new ideas​ carefully?

early adopters

An American​ cola-manufacturing company that primarily targets rebellious and adventurous people most likely uses​ ________ segmentation.

psychographic

In a straight​ rebuy, ________.

the​ "in" suppliers try to maintain product and service quality to keep the business

The full mix of benefits on which a brand is differentiated and positioned is known as the​ brand's ________.

value proposition

Which of the following is an example of an internal stimulus that would most likely lead to problem​ recognition?

A buyer is unhappy with a current​ supplier's product quality.

________ is(are) the most basic cause of a person's wants and behavior. A) Culture B) Brand personality C) Cognitive dissonance D) Societal factors E) Selective perception

A) Culture

This group of consumers tends to buy more branded, higher-quality products. and to make shopping a family event, with children having a big say in the purchase decision. In general, they are very brand loyal, and they favor companies who show special interest in them. A) Hispanic B) African American C) Asian D) mature E) gay and lesbian

A) Hispanic

________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others. A) Opinion leaders B) Habitual buyers C) Social networkers D) Stealth marketers E) Buzz marketers

A) Opinion leaders

Companies who use brand ambassadors are participating in ________. A) opinion leading B) traditional marketing C) buzz marketing D) direct marketing E) values marketing

C) buzz marketing

Opinion leaders are sometimes referred to as ________. A) the influentials B) the upper uppers C) the middle class D) buzz marketers E) networkers

A) the influentials

In the context of the AIO dimensions for measuring​ consumers' lifestyles,​ "A" stands for​ ________.

Activities

Which subcultural market segment is the most affluent demographic​ segment?

Asian Americans

________ are groups to which an individual wishes to belong, as when a teenaged basketball player hopes to play someday for the Los Angeles Lakers. A) Membership groups B) Aspirational groups C) Leading adopter groups D) Leisure groups E) Social class groups

Aspirational groups

Generally, the​ consumer's purchase decision will be to buy the most preferred​ brand, but two factors can come between the purchase intention and the purchase decision. Which of the following is one of these​ factors?

Attitudes of others

Although more price-conscious than other segments, ________ consumers tend to be strongly motivated by quality and selection. Brands are important. They enjoy shopping and are more fashion conscious than other ethnic groups. A) Hispanic B) African American C) mature D) Asian E) baby boomer

B) African American

________, the fastest-growing U.S. demographic segment, now number more than 45 million. A) African Americans B) Hispanics C) Asian Americans D) Mature consumers E) Gays and lesbians

B) Hispanics

The marketer wants to understand how the stimuli are changed into responses inside the consumer's ________, which has two parts. First, the buyer's characteristics influence how he or she perceives and reacts to the stimuli. Second, the buyer's decision process itself affects the buyer's behavior. A) culture B) black boxtics C) belief D) lifestyle E) social class

B) black boxtics

Many companies, such as JetBlue and Sony, enlist everyday consumers who are enthusiastic about their brands to become ________ , brand ambassadors who share their passion for a company's products with large circles of friends and acquaintances in return for insider knowledge and other rewards. A) leading adopters B) brand evangelists C) direct marketers D) direct sellers E) influencers

B) brand evangelists

Marketing stimuli consist of the four Ps. Which is NOT one of these? A) product B) politics C) price D) promotion E) place

B) politics

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

Behavioral

​________ requires finding the major advantages people look for in a product​ class, the kinds of people who look for each positive aspect of a​ product, and the major brands that deliver it.

Benefit segmentation

Which role is it that has the formal authority to select the supplier and arrange terms of​ purchase? Persons in this role might help shape product​ specifications, but their major role is in selecting vendors and negotiating. In more complex​ purchases, high-level officers might participate in this role in the negotiations.

Buyers

________, the most affluent American demographic subculture, now have more than $450 billion in annual spending power. A) Hispanics B) African Americans C) Asian Americans D) Gays and lesbians E) Gen Xers

C) Asian Americans

________ are becoming a very attractive market: they are the ideal market for travel, restaurants, high-tech home entertainment products, and convenient services A) Hispanics B) Asian Americans C) Mature consumers D) African Americans E) Teenagers

C) Mature consumers

A​ ________ is a need that is sufficiently pressing to direct a person to seek satisfaction.

motive

Each culture contains smaller ________, or groups of people with shared value systems based on common life experiences and situations. A) alternative evaluations B) cognitive dissonances C) subcultures D) motives E) attitudes

C) subcultures

Many companies use ethnically specific themes in their mainstream marketing strategy because marketers have realized that insights gleaned from ethnic consumers can influence their broader markets. This type of marketing is known as​ ________ marketing

Cross-cultural

The consumer market is made up of which of the following? A) individuals who acquire goods or services for personal consumption B) households that purchase goods or services for personal consumption C) businesses that purchase goods and services D) A and B E) all of the above

D) A and B A -individuals who acquire goods or services for personal consumption B - households that purchase goods or services for personal consumption

________ is never simple, yet understanding it is the essential task of marketing management. A) Brand personality B) Consumption pioneering C) Early adoption D) Consumer buying behavior E) Understanding the difference between primary and secondary data

D) Consumer buying behavior

What is one way that social class is NOT measured? A) occupation B) education C) income D) number of children in the family E) wealth

D) number of children in the family

Which of the following is NOT considered an important American subculture by marketers? A) Hispanics B) African Americans C) mature consumers D) opinion leaders E) Asian Americans

D) opinion leaders

The starting point of understanding a consumer's response to various marketing efforts is the ________ of a buyer's behavior. A) belief B) subculture C) postpurchase feeling D) stimulus-response model E) postpurchase dissonance

D) stimulus-response model

​________ segmentation divides the market into segments based on variables such as​ age, life-cycle​ stage, gender,​ income, occupation,​ education, religion,​ ethnicity, and generation.

Demographic

​________ marketing is more suited for products that vary in design.

Differentiated

A cosmetics firm selects seven different segments to target with five different brands and product lines. The firm has embraced which targeting​ strategy?

Differentiated marketing

A grocery chain decides to divide the market into​ urban, suburban, and rural markets and then direct efforts towards the suburban segments first and eventually move into urban areas. The grocer is employing what type of​ segmentation?

Geographic

Which consumer group tends to show more brand loyalty and make shopping a family​ event, with children having a big say in the purchase​ decision?

Hispanic Americans

________ refer to members of the buying organization who help define specifications and provide information for evaluating alternatives.

Influencers

Which of the following best describes divisibility of an innovation that influences the rate of​ adoption?

It is the degree to which the innovation may be tried on a limited basis.

​________ is a​ person's pattern of living as expressed in​ his/her psychographics, and it includes the​ individual's activities,​ interests, and opinions.

Lifestyle

​________ consists of evaluating each market​ segment's attractiveness and selecting one or more segments to enter.

Maret Targeting

A competitive and​ well-respected lifestage segmentation system is​ __________________, which classifies every American household into one of 66 distinct lifestage segments that are further organized into 11 major lifestage​ groups, based on​ affluence, age, and family characteristics.

Nielsen PRIZM Lifestyle Groups system (PRIZM)

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

Positioning

The first step in a fairly​ lengthy, complex process of making a purchase in a business marketing situations is​ what?

Problem recognition

​________ segmentation divides buyers into different segments based on social​ class, lifestyle, or personality characteristics.

Psychographic

​________ means that consumers are likely to remember good points made about a brand they favor and forget good points made about competing brands.

Selective retention

________ are society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors. A) Social classes B) Cultures C) Reference groups D) Attitudes E) Lifestyles

Social classes

Which of the following statements is true regarding social class in the United States? A) Social class is determined primarily by income level. B) Lines between social classes in the United States are fixed and rigid. C) Social classes show distinct product preferences in clothing and automobiles. D) Wealth is more critical than education level in measuring social class. E) People are relegated to a permanent class layer in the United States.

Social classes show distinct product preferences in clothing and automobiles.

________ refers to buying a packaged solution to a problem from a single​ seller, thus avoiding all the separate decisions involved in a complex buying situation.

Systems selling

Which of the following most likely occurs in the supplier selection stage of the business buying decision​ process?

The buying center draws up a list of the desired supplier attributes and their relative importance

​P&G offers a great variety of bestselling detergent and laundry care​ brands, including​ Tide, Gain,​ Cheer, Era,​ Dreft, Bold,​ Bounce, and Downey.​ Essentially, in the laundry​ market, P&G is competing with itself. Why does it offer so many competing​ brands?

The firm wants to appeal to different market segments.

________ refers to a​ market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.

Undifferentiated

​________ marketing is more suited for uniform​ products, such as grapefruit or steel.

Undifferentiated

Sigma​ Inc., a software firm based in​ California, reordered 50 printers from the designated provider without any modifications. This is an example of​ ________.

a straight rebuy

Market segments that can be effectively reached and served are​ ________.

accessible

Which of the following is the final stage in the new product adoption​ process?

adoption

A segment is less attractive if it​ ________.

already contains many strong and aggressive competitors

A​ person's buying choices are influenced by four major psychological factors. Which of the following is NOT one of these​ factors?

association

​A(n) ________ is a​ person's relatively consistent​ evaluations, feelings, and tendencies toward an object or idea.

attitude

Buyers who face a​ ________ usually go through all stages of the buying process.

new task buying situation

Crest toothpaste does not segment the market by geography or​ gender, but it divides it by the features and outcomes buyers expect from their toothpaste such as​ whitening, cavity-fighting, or​ breath-freshening qualities. What approach is Crest using to segment the​ market?

benefit segmentation

A​ ________ creates a​ long-term relationship in which the supplier promises to resupply the buyer as needed at agreed prices for a set time period.

blanket contract

Business markets are similar to consumer markets in that​ ________.

both involve people who assume buying roles and make purchase decisions to satisfy needs

Which of the following terms refers to a specific mix of human traits that may be attributed to a particular​ brand?

brand personality

In the model of buyer behavior, which of the following is NOT a major type of force or event in the buyer's environment? A) economic B) technological C) political D) channel E) cultural

channel

Almost all major purchases result in​ ________, or discomfort caused by postpurchase conflict.

cognitive dissonance

Which of the following is an organizational factor that influences business​ buyers?

company procedures

Sail Metalworks Inc. is currently looking for the best vendors of metal sheets. In other​ words, Sail Metalworks is​ ________.

conducting a supplier search

The buyer decision process consists of five stages. Which of the following is NOT one of these​ stages?

conspicuous consumption

Modern communication technologies enable consumers to connect across many of the traditional segmentation bases.​ Increasingly, firms will employ​ ________ segmentation in the international market to form segments of consumers who have similar needs and buying​ behaviors, even though they are located in different countries.

cross-market

Marketers are always trying to spot ________ in order to discover new products that might be wanted. A) lifestyles B) cultural shifts C) groups D) dissonance E) attitudes

cultural shifts

Consumers who show their allegiance to​ brands, stores, or companies help marketers to segment consumers by their​ ________.

degree of loyalty

The business marketer usually deals with a difference in the market size and type of customer from consumer markets. The business market is characterized with​ ________ buyers and much​ ________ buyers than does the consumer marketer

far​ fewer; larger

​A(n) ________ controls the flow of information to others in the buying center.

gatekeeper

Which of the following consumer buying behaviors is related to conditions of​ low-consumer involvement and little significant brand​ difference?

habitual buying behavior

All of the following are difficulties associated with selling to government buyers EXCEPT​

high advertising costs

Even when competing offers look the​ same, buyers may perceive a difference based on​ ________ differentiation.

image

Symbols such as the​ McDonald's golden​ arches, the colorful Google​ logo, the Nike​ swoosh, or​ Apple's "bite​ mark" logo provide strong company or brand recognition and are indicative of​ ________ differentiation.

image

In a business marketing​ scenario, demand is typically​ ________ and fluctuates more than in the consumer marketplace

inelastic

Which of the following marketing strategies is most suitable for smaller firms with limited​ resources?

niche marketing

The department store chain​ Macy's has rolled out a localization program called​ "My Macy's" in which merchandise is customized under 69 different geographical districts. Due to climate and taste​ differences, the firm markets brands and promotions specifically to the needs and wants of local customer groups. Which marketing strategy is​ this?

local marketing

When marketers at Fair​ & Leigh Inc. selected the​ Millennials, a demographic group that includes many college​ students, as an untapped group of potential customers for their new line of​ products, they were engaging in​ ________.

market targeting

​Traditionally, marketing was not focused on specific buyers but marketers were scattering their marketing efforts through​ ________, which is more of a​ "shotgun" approach.

mass marketing

In a​ ________ situation, the​ "in" suppliers may become nervous and feel pressured to put their best foot forward to protect an account and the​ "out" suppliers may see the present situation as an opportunity to make a better offer and gain new business.

modified rebuy

In which stage of the business buying process does a buyer ask users to rate their satisfaction with the supplied​ materials?

performance review

The information sources that are the most effective at influencing a​ consumer's purchase decision are​ ________. These sources legitimize or evaluate products for the buyer.

personal

________ refers to the unique psychological characteristics that distinguish an individual or group.

personality

Which of the following plays the most important role in government​ buying?

price

​________ occurs when someone in the company identifies a need that can be met by acquiring a specific product or service.

problem recognition

The​ ________ is the way a product is defined by consumers or the place the product occupies in​ consumers' minds relative to competing products. Products are made in​ factories, but brands happen in the minds of consumers.

product position

A shoe manufacturing company uses ads featuring the members of a country music band with the hope that the​ band's fans will see them wearing the​ company's shoes and hence purchase the same brand of shoes. The shoe company believes that the band portrays the image of a​ ________ to the​ band's fans.

reference group

Stores such as​ Walmart, Best​ Buy, PetSmart,​ David's Bridal, and DSW Shoes use​ ________ positioning.

same for less

People tend to interpret new information in a way that will support what they already believe. This is called​ ________.

selective distortion

Family is one of the​ ________ factors that influence consumer behavior.

social

Economic, technological, and cultural forces are all ________ in the stimulus-response model of buyer behavior. A) buyer responses B) stimuli C) components of the buyer's decision process D) buyer characteristics E) buying attitudes

stimuli

Carrie tends to purchase various brands of bath soap. She has never been loyal to a specific​ brand; instead she does a lot of brand switching. Carrie exhibits​ ________.

variety-seeking buying behavior

Under​ ________, buyers share sales and inventory information directly with key suppliers who monitor and replenish the​ buyer's stock automatically as needed.

vendor-managed inventory