MKTG 101 Exam II

87) ________ positioning involves providing the most upscale product or service and charging a higher price to cover the higher costs.

"More for more" positioning

71) ________ segmentation refers to dividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item.

Occasion segmentation

68) Which of the following is NOT one of the major variables used in segmenting consumer markets?

Situational Variables

________ are society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors.

Social classes

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

Targeting

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

activities

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

alternative evaluation

93) Product planners need to consider products and services on three levels. At the third level, product planners must build ________.

around core benefit and actual product by offering additional consumer services and benefits

________ consumers are the most brand conscious of all the ethnic groups, are extremely brand loyal, and shop frequently.

asian american

38) Business buyer behavior refers to the ________.

behavior of organizations that buy products and services

27) A(n) ________ is a descriptive thought that a person has about something.

belief

102) A ________ is a name, term, sign, symbol, design, or a combination of these, that identifies the maker or seller of a product or service.

brand

116) Introducing a new product into the market is called ________.

commercialization

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

company procedures

29) When consumers are highly involved with the purchase of an expensive product and they perceive significant differences among brands, they most likely will exhibit ________.

complex buying behavior

111) The ________ of the product mix refers to how closely related the various product lines are in end use, production requirements, distribution channels, or some other way.

consistency

101) What are the two dimensions of product quality?

consistency and level

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

conspicuous consumption

91) Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is ________, which addresses the question, "What is the buyer really buying?"

core customer value

________ is the most basic determinant of a person's wants and behavior.

culture

74) When the size, purchasing power, and profile of a market segment can be calculated, the market is ________.

measurable

44) 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 buying

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

niche marketing

A buyer's decisions are influenced by ________ such as the buyer's age and life-cycle stage, occupation, economic situation, lifestyle, personality, and self-concept.

personal characteristics

35) After the purchase of a product, consumers will be either satisfied or dissatisfied and engage in ________.

postpurchase behavior

120) When Heinz introduced EZ Squirt packaging and new colors such as Blastin' Green and Awesome Orange to revitalize consumer buying, the company was modifying the ________.

product

105) A ________ is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges.

product line

107) ________ involves adding more items within the present range of the product line.

product line filling

108) A ________ consists of all the product lines and items that a particular seller offers for sale.

product mix

56) ________ refers to the stage of the business buying process in which the buying organization decides on and specifies the best technical product characteristics for a needed item.

product specification

83) A ________ refers to the way a product is defined by consumers on important attributes—the place the product occupies in consumers' minds relative to competing products.

product's position

94) Consumer products refer to ________.

products purchased by ultimate consumers

58) In which stage of the business buying process does the buyer contact suppliers for bids?

proposal solicitation

A ________ consists of the activities an individual is expected to perform, according to the people around him/her.

role

117) Which of the following best characterizes the decline stage of product development?

sales and profits decline

96) ________ are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.

shopping products

110) Product mix ________ refers to the total number of items a company carries within its product lines.

length

106) The major product line decision involves product ________, the number of items in the product line.

line length

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

Behavioral

42) Which of the following is true about business purchases?

Business purchases involve more professional purchasing effort than consumer purchases.

99) ________ are industrial products that aid in the buyer's production or operations, including installations and accessory equipment.

Capital items

113) Which of the following is a potential drawback of multibranding?

Each brand might obtain only a small market​ share, and none may be very profitable.

33) Donna wants to buy a new coat. During the ________ stage of the buyer decision process she will ask her friends to recommend stores that sell good quality winterwear clothing. She will also go through newspapers and magazines to look out for offers and sales on coats.

Information Search

25) ________ describes changes in an individual's behavior arising from experience.

Learning

61) Which of the following is true with regard to e-procurement?

Many buyers now use the power of the internet to pit suppliers against one another and search out better deals, products, and turnaround times on a purchase-by-purchase basis.

79) ________ is the process by which firms interact one-to-one with masses of customers to design products and services tailor-made to individual needs.

Mass customization

37) Five characteristics are important in influencing an innovation's rate of adoption. Which of the following is NOT one of those characteristics?

Motivation

73) Which of the following is NOT a benefit of using multivariable segmentation systems?

Multiple segmentation bases help identify smaller, better-defined target groups.

104) A product's ________ identifies the product or brand, describes several things about the product, and promotes the brand.

label

103) ________ involves designing and producing the container or wrapper for a product.

Packaging

84) ________ show(s) consumer perceptions of a company's brands versus competing products on important buying dimensions.

Perceptual positioning maps

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

Personality

118) Which of the following statements characterizes the introduction stage of the PLC?

Profits are nonexistent.

69) ________ segmentation divides buyers into different segments based on lifestyle or personality characteristics.

Psychographic

115) Which stage of new product development requires management to estimate minimum and maximum sales to assess the range of risk in launching a new product?

business analysis

According to the model of buyer behavior, which of the following is one of the two primary parts of a "buyer's black box"?

buyer's decision process

47) The decision-making unit of a purchasing organization is called its ________.

buying center

What is the most important consumer buying organization in society?

family

39) The business marketer normally deals with ________ than the consumer marketer does.

far fewer but far larger buyers

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

gatekeeper

55) In the ________ stage of the buying process, the alert business marketer can help the buyers define their needs and provide information about the value of different product characteristics.

general needs description

119) Which stage in the product life cycle is characterized by rapid market acceptance and increasing profits?

growth

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

habitual buying behavior

63) All of the following are difficulties associated with selling to government buyers EXCEPT ________.

high advertising costs

114) New product development starts with ________.

idea generation

75) Which of the following is the reason a company may choose not to focus on the largest, fastest-growing segments?

idk

112) The strongest brands are positioned on ________.

strong beliefs and values

109) Product mix ________ refers to the number of different product lines the company carries.

width

________ are groups to which an individual wishes to belong, as when a young basketball player hopes to play someday in the NBA or WNBA.

aspirational groups

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

attitude

36) Which of the following is the first stage in the new product adoption process?

awareness

Individuals and households that buy or acquire goods and services for personal consumption make up the ________.

consumer market

95) ________ are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.

convenience products

89) Market offering includes everything from pure tangible goods to pure services, as well as combinations of goods and services. Which of the following is NOT a product or service?

idk

40) The Pure Drug Company produces insulin, a product with a very stable demand. Even though the price changed several times in the past two years, the demand for Pure Drug's insulin remained relatively unaffected. In this instance, the demand for insulin is representative of ________ demand.

inelastic

50) Eric Mason, an employee of Huntington Steelworks, is responsible for defining product specifications and providing relevant information for evaluating alternatives in his organization's buying center. Eric, whose opinions affect the buying decisions of his organization to a great extent, is most likely a(n) ________.

influencers

62) The ________ market consists of schools, hospitals, nursing homes, prisons, and the like that provide goods and services to people in their care.

institutional

53) If a buying center is most influenced by authority in the business buying process, it can be safely concluded that ________ factors have a major influence on its buying behavior.

interpersonal

43) Since business marketers have fewer buyers than consumer marketers, business buyers often face ________ than do consumer buyers.

less complex buying decisions

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

motive

45) In a straight rebuy, ________.

n suppliers try to maintain product service quality and out suppliers try to find new ways to add value or exploit dissatisfaction

59) The stage of the business buying process in which the chosen supplier(s) is given the final order is the ________ stage.

order-routine specification

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

performance review

34) James has decided to buy a new vehicle. His brother John has recently purchased a new truck and recommends the same model to James. James finally decides to buy the same truck. Which of the following sources of information has most likely influenced James' purchase decision?

personal sources

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

price

54) The first step of the business buying process is ________.

problem recognition

85) Through ________ differentiation, brands can be differentiated on features, performance, or style and design.

product

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

17) Shoez Inc., a manufacturer of shoes, has recently launched a brand of sturdy shoes ideal for hiking and other outdoor activities. Which of the following brand personalities could be best associated with the new brand?

ruggedness

14) Since a person's economic situation will affect her store and product choices, marketers watch trends in spending, personal income, interest rates, and ________.

savings

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

selective distortion

22) People cannot focus on all of the stimuli that surround them each day. A person's tendency to screen out most of the information is called ________.

selective perception

64) Government buyers are affected by all of the following factors EXCEPT ________ factors.

self-concept factors

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

social

97) A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania, from locally grown wood, is an example of a ________.

specialty product

21) Which of the following is NOT part of Maslow's hierarchy of needs?

stimulus needs

20) According to Freud, a person's buying decisions are primarily affected by ________.

subconscious motives

Each culture contains smaller ________, or groups of people with shared value systems based on common life experiences and situations.

subcultures

57) Members of the buying center at Kid's World, a store for children's clothing, are drawing up a list of desired supplier attributes and their relative importance. Next, they intend to compare several suppliers' proposals to these attributes. In which step of the business buying process is the buying center at Kid's World involved?

supplier selection

100) Lubricants, coal, paper, and pencils are examples of ________.

supplies

51) Which of the following is an environmental factor that influences business buyers?

supply of key materials

24) ________ 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

78) Which of the following is true about the concentrated marketing strategy?

They usually involve only a single segment.

98) ________ are consumer products that the consumer either does not know about or knows about but does not normally think about buying.

Unsought products

82) ________ refers to how a company will create differentiated value for targeted segments and what positions it wants to occupy in those segments.

Value proposition

26) ________ are minor stimuli that determine where, when, and how a person responds to an idea.

Cues

67) ________ involves actually distinguishing the firm's market offering to create superior customer value.

Differentation

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

Differentiated

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

Differentiated (Segmented) marketing

30) 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

88) "To busy multitaskers who need help remembering things, Evernote is a digital content management application that makes it easy to capture and remember moments and ideas from your everyday life using your computer, phone, tablet, and the Web." This is an example of a(n) ________.

Positioning Statement

46) A new task situation presents ________.

a purchase decision that requires thorough research such as a new product

86) Harvey's Bookstore is a popular online bookstore that has differentiated itself through smooth-functioning delivery networks. This is an example of ________ differentiation.

channel differentiation

48) In routine buying situations, which of the following members of the buying center has formal or informal power to select or approve the final suppliers?

deciders

41) Demand for outboard motors depends on consumers purchasing fishing boats. This is an example of ________ demand.

derived

92) Product planners need to consider products and services on three levels. At the second level, product planners must ________.

turn the core benefit into an actual product

76) ________ 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 (mass) marketing

72) In the context of behavioral segmentation, markets segmented by ________ can be categorized into light, medium, and heavy product users.

usage rate

Which of the following is characteristic of online social networks?

user-controlled content