MKTG 311

Secondary data, because it is collected for addressing the purpose at hand, is both relevant and current.

false

Port Orleans Shipping markets different services to the tourism, defense, and trade segments. The firm designs separate offers for each segment based on their needs. This approach is called ________ marketing with regards to their targeting strategy.

Differentiated

Information is a foundational element of marketing. Specifically, discrete data points gathered about our market should be analyzed to generate _____________ , which should then guide and drive your marketing decisions.

customer insights

The second step in the overarching marketing process is to understand market wants/needs.

false

Culture is considered to be an invisible, yet far-reaching force that exerts an influence over our wants.

true

Dichotomous questions (e.g., yes/no questions) are not likely to generate in-depth insights, as seen in the example survey, especially when there is little to no follow-up provided.

true

Baby Boomers (those born from 1946 - 1964) are increasingly adopting "smart" devices as they become more user friendly and lower in price. This adoption trend is likely also influenced by a healthy stock market, as Baby Boomers are key investors, and as such, likely have increased disposable incomes. This indicates that what three macro-environmental forces are at play in this one marketspace?

Demographics, technology, economy

Dunder Mifflin, a paper company, sells their paper to a local grocer. When the grocer sees the sales of toilet paper increase because consumers are buying it in increased quantities, the grocer increases their toilet paper order from Dunder Mifflin: Bathroom Products Division. This highlights the principle of _________ demand that is specific to business demand.

Derived

Conducting an Internal Analysis, as part of the Situation Analysis, requires you to identify and describe all of the elements, EXCEPT:

Evolving market opportunities

As stated in the lecture videos, the buying center is comprised of many individuals performing different roles in the decision making process. Executive secretaries/personal assistants/office managers often perform two key roles, given their primary job function:

Gatekeeper, buyer

M&Ms frequently utilize their M&M characters to distinguish their brand and product from other chocolate candies, such as Reese's Pieces. This reflects the _________ positioning method.

Symbol

A market is defined as the set of _____________________ . actual and potential buyers that are interested in a market offering consumers and companies that work to exchange money and products companies that produce market offerings. retail locations that exist to sell market offerings to consumers

actual and potential buyers that are interested in a market offering

Dove Men's Care has segmented their consumer markets using a specific variable of segmentation which resulted in the consumer segments of those who are seeking a fresh scent, those who are seeking the best value, those who are seeking the most masculine product, and those that are seeking the most readily available product. The variable of segmentation that Dove utilized is called ________.

benefit

Christina is wanting to investigate the cause and effect of raising prices on customer demand. Given this intent, you recommend that she consider using __________ as a primary research method approach.

experiments

"Select all of the following responses that are applicable to your preference for restaurants" is a scale question.

false

I'm switching financial advisors - a highly involved, risky decision for me. As such, you would anticipate that I quickly gather information from my memories/past experience, and then move on to the evaluation of alternatives stage.

false

Marcia's organization is currently experiencing a decline in sales. Marcia, the CEO, has determined that the main problem they are attempting to address through their research is "How do we increase sales?" Marcia has therefore defined her marketing research problem.

false

Pretzel Crisps is wanting to utilize a market development growth strategy. As such, you would recommend marketing a new product, Sweet Chili Lime pretzels, to a new demographic that has not previously been targeted by Pretzel Crisps: digital natives who are culinarily adventurous.

false

Product decisions are where you are aiming to capture value, by capturing consumers' attention with your product design.

false

Reference groups vary in terms of who is categorized as what type of reference group for an individual (e.g., if an individual is considered to be part of a primary reference group vs. aspirational reference group), but each reference group exerts a similar influence over a person.

false

Segmentation, targeting and positioning is a part of marketing that once it is decided and done, organizations do not need to revisit their STP decisions.

false

When firms are engaged in strategic planning, they will primarily be looking at how their internal competencies and strengths fit with their internal resources.

false

Devon is in the market for a new car. After having done her research, she has determined that the Jeep Grand Cherokee is the best car for her, as she enjoys and regularly participates in outdoor recreational activities when she's not working. This indicates that Devon was primarily influenced by what individual influence factor of consumer behavior in making this choice?

lifestyle

I hear freakishly awesome, trendy music that I love listening to blasting out from a store as I walk past. I've never entered the store, but I think it's a pretty cool store just by virtue of their playing my favorite music. This means that I was influenced by what consumer behavior concept?

perception

Happy Jacks Toy Company believes that no one will buy their products without significant advertising and incentives, such as coupons and deals, such that they spend their time and money primarily on promotions. Their marketing department therefore exhibits a ________________ orientation.

sales

Marketing is the one discipline in business that is tasked with making sure that the organization works in concert with the external market and customer trends.

true

Michael loves drinking Dr. Pepper. Stimulus discrimination explains why Michael refuses to drink Dr. K (a substitute, "copycat" Kroger label version), as he can literally taste the difference between the two.

true

Once you apply a variable to the market as you do your segmentation exercise, it has to continue to be part of your segmentation process, even when you add a second, or third, or fourth variable.

true

Opportunities should be future-based actions that an organization could take that would be based on and informed primarily by external trends.

true

Riverbend Hospital is in need of toys for their waiting rooms. Given that they are a hospital, they would be considered as an institution within the business (B2B) market.

true