MKTG 2201 quiz 1

marketers are said to suffer from marketing myopia when they ignore underlying consumer needs and focus excessively on

consumers' exsisting wants

________ is the act of obtaining a desired object from someone by offering something in return

exchange

Walt disney resort group doesn't just offer amusement rides, it uses its fames Disney magic to create carefully orchestrated

experiences

which of the following is a social factor that influences consumer buying behavior

family

which of the following is the least effective way to keep customers from switching to a competitor?

give out free samples of your product.

compared with undifferentiated marketing, differentiated marketing is more likely to lead to _______

higher costs of doing business

when a point of different can easily be copied by competitors, it is

reemptive

which of the following is most likely a financial public

stockholder

which of the following best describes a company's business portfolio

the collection of businesses and products that make up the company

which of the following demonstrates the real value of a company's marketing research and information system?

the customer insights it provides

which of the following is an approach where firms target a whole market based on common consumer needs?

undifferentiated marketing

a brand's ______ is the set of benefits that it promises to deliver to consumers to satisfy their needs

value proposition

which of the following is likely to be a reason why a company wants consumers to search more?

-when the company charges a higher price than the competitors -when the company's product has the same quality as the competitors

when an effective program can be designed for attracting and serving a chosen segment, the segment is best described as _________

actionable

_______ are defined as statuses of felt deprivation a) demands b) needs c) values d) ideas e) exchanges

b) needs

The ABC company manufactures microprocessors and caters exclusively to private manufacturers that produce high-end computers. which type of market does ABC target?

business market

which of the following is not considered a source of competitive marketing intelligence?

competitor's internal databases

the ______ effect is the tendency for consumers to prefer middle options

compromise

which of the following doubles the 3 C's of choosing a marketing position?

customer, competition, company

according to the text, ______ are the most important actors in a company's microenvironment

customers

the marketing manager of Appeal has noticed a sharp drop in sales over the last two months, The manager tries to conduct marketing research to identify potential causes for the drop sales. which should he do first?

define the problem and the objectives

Pediatrician pet supplies, a pet food company, divides the pet market according to the pet owner's gender, income, and family life-cycle. In this case, which of the following variables has the company used for market segregation

demographic

if men and women respond dissimilarly to the marketing efforts for a root-beer flavored malt beverage, they are considered __________ marketing segments

differentiable

becca wants to buy a new coat. she asks her friends to recommend a store and/or a style of coat. She looks for sale advertisements for coats in newspapers and also visits nearby stores to check if she can find a coat in her budget. In this case, Becca is most likely in the _______ stage of the buyer decision process

information search

Susan Hart, the manager of a children's boutique, collects data from her monthly records of sales, costs, and cash flow. in this case, susan is making use of _________ databases

internal

volunteers belong to a company's ________ publics

internal

which of the following is a personal factor that influences a consumer's buying behavior

life-cycle stage

___________ marketing tailors brand and promotions to the needs and wants of specific cities, neighborhoods, and even stores

local

unlike other car rental agencies, that are based in airports to serve travelers, rental wheelz has a network of neighborhood offices, The firm strives to serve people who need car rentals for other reasons than vacation, such as when their own cars are being repaired. Rental Wheelz caters to a small share of the large car rental market. from this description, it can be concluded that rental wheelz most likely practices

local marketing

the ____ concept that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do

marketing

_______ is the systematic design, collection analysis, and reporting of data relevant to a specific marketing situation facing an organization

marketing research

which of the following is a quantitatinve approach to research?

marketing surveys

a _____ is purposeful, specifying what an organization whats to accomplish in the larger environment

mission statement

which of the following is the fist stage of the buyer decision process

need recognition

______ refers to how the product compares to other products on the market

positioning