Practice Exam #2
Cognitive distance
After purchasing a new Lexus, Brandon sees an Infinity pass by on the street and begins to wonder if he made the right choice. Brandon is experiencing
balance of trade
Corporate executives often prefer marketing research findings to be put into a report
Privacy issues
1. Johnny is a high school senior and plans to attend college after graduation. Johnny enjoys playing computer games such as League of Legends and hopes to pursue a career in computer game design. He's taking computer programming classes in high school, and his teacher has been discussing recent issues related to consumer _______ and concerns that the Federal Trade Commission may develop regulations that would provide additional protection to consumers by limiting the amount of consumer information that businesses can gather online.
Level of involvement
A major determining factor in deciding which type of decision-making process should be used depends on the individual's intensity of interest in a product and the importance of the product for that person. This is known as an individual's
Database
A(n) ____ is a collection of information arranged for easy access and retrieval.
Trading Company
A(n) ____ is an organization that links buyers and sellers in different countries but is not involved in manufacturing.
Interpretation
Assignment of meaning to organized information inputs is called
Marketing Information System
Bart's Appliance Center owner Ron Bart feels that his organization has access to a great deal of information generated both inside and outside the firm, but much of this information is presently going to waste. Apparently, Bart needs to develop a
Extended
Beth Hines is buying furniture for her apartment for the first time. She is spending considerable time and effort comparing the products that different stores offer. Which type of decision-making process is she using?
Attitudes
Cognitive, affective, and behavioral are the three major components of
Podcasts
Due to increasing consumer demand, many television networks are creating ____ of their shows.
Address-ability
Due to the use of cookies, many websites are able to track visitors when they return to their websites. This helps them track how often the visitor views the website and in what products he or she shows an interest. Some websites have capitalized on this by providing product recommendations to users when they return to their websites based on their past activity. This is an example of
Inexperienced
During the evaluation of alternatives stage of the consumer buying decision process, framing most likely influences the decision process of ____ buyers.
Exporting
Henderson Synthetics is a producer of chemical products aimed at increasing agricultural yield per acre. Henderson Synthetics' management believes that several of the firm's products could have sizable markets in other countries; however, it is costly to obtain market research to confirm this. If Henderson Synthetics wanted to temporarily "try out" these international markets with a minimal level of commitment and cost, it should use
Market Segments
Individuals, groups, or organizations with one or more similar characteristics that cause them to have similar product needs are classified as
Physiological
Jana now feels that her teeth are not white enough after seeing advertisements for whitening toothpaste. Marketers promote these brands based on ____ needs, appealing to sex appeal.
Market Density
Many marketers are concerned about the number of potential customers within a certain area of land because of the different requirements to serve dissimilar areas. What is this segmentation variable called?
Not currently available to decision makers
Marketing research is a process designed to gather information
becomes aware that there is a difference between a desired state and an actual condition
Problem recognition occurs when a consumer
Differentiated
Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) ____ targeting strategy for laundry detergents.
Sales forecast
Starbucks will spend $2 million marketing its newest latte drink. It expects to sell 15 million of these lattes over the next year. These 15 million lattes are a _____________ for Starbucks.
Avatar
Redbox has established outlets in the simulated environment of Second Life. Your ____ is able to rent a movie from a Redbox.
Market potential
Refer to Scenario 6.2. Researchers at GE Transportation estimate that 1,000 rail lines throughout the world will purchase some kind of locomotive engine next year. That number represents the
Selective retention
Refer to Scenario 7.1. A dissatisfied Skola's Auto Repair customer told a friend about his experience. The friend has been a long-time Skola's customer and the next day, didn't remember what he told her. This is an example of
The executive has considerable experience and product demand is relatively stable
Relying on executive judgment for forecasting may be adequate when
Descriptive
Research that is conducted to clarify the characteristics of certain phenomena to solve a particular problem is called ____ research.
admitting only certain inputs into consciousness
Selective exposure refers to
Wikis
Some companies use ____ as internal tools for teams working on a project requiring lots of documentation.
Strategic alliances
Sometimes business partnerships are formed between traditional rivals competing for market share in the same product class. These partnerships are known as
Has taken on many of the values, attitudes, or behaviors of group members
Stuart's little brother Kyle joined the Boy Scouts recently. Stuart notices that in addition to wearing the Boy Scout uniform, Kyle has been better about keeping his everyday clothes neat and clean, has been searching online for camping gear, and has become interested in "green" products. Stuart believes that the Boy Scouts are now a reference group for Kyle because he
External Secondary
Subscription services from firms such as ACNielsen provide marketing researchers with a good source of ____ data.
Differentiated
Sysco distributes food to restaurants, healthcare facilities, hotels, and schools, among other businesses. What type of targeting strategy would it most likely adopt?
that is clear, short and simply expressed
The ____ is the difference in value between a nation's exports and its imports.
Sales forecast
The amount of product a company expects to sell during a specific period at a specified level of marketing activity is called the
An overall measure of a nation's economic standing
The gross domestic product is
Products sold in foreign countries at unfairly low prices
The term dumping refers to the sale of
Information search
Tiffany is a purchasing manager of computer and software equipment for her company, which employs about 350 individuals. She subscribes to PC Magazine and several other trade publications that review computer hardware and software. In addition, Tiffany is an active user of online forums and often reads reviews that other purchasing managers post about different computer models. Tiffany spends about 1-2 hours each week reviewing information through these sources before making purchasing decisions. What stage of the consumer decision process is Tiffany most likely in?
Undifferentiated strategy, the concentrated strategy, and differentiated strategy
To find a target market, a firm can use one of these targeting strategies
Expert forecasting survey
When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n)
Consideration
When shopping for detergent, Josh looks at Tide, Fresh Start, Surf, and All and chooses the one that is on sale. These four brands make up his ____ set.
African Americans
Which American subculture spends the highest proportion of its income on phone services, children's clothing, and shoes?
Shoplifting
Which of the following is an example of consumer misbehavior?
The large number of people or organizations
Which of the following is not a requirement or characteristic of a market?
Legos
Which of the following products is most likely to have its market segment based on age?
Online surveys
Which of the following survey methods has the potential to offer quick response at a lower cost than traditional mail and telephone surveys?
You developed your company's e-marketing strategy
You have just completed a two-day offsite meeting with your marketing team. During the meeting, you solidified your company's strategy for distributing, promoting, and pricing products, and understanding the needs and desires of your customers by utilizing digital media marketing tactics. Which of the following statements best describes what you just accomplished?
homogeneous; undifferentiated
Your marketing team is having a brainstorming session to finalize your target marketing strategy. To make sure all team members are on the same page, you make the following statement to keep the discussions focused: If we determine that the needs of the customers we are targeting are ______________, then we need to pursue a _______________ targeting strategy.
Collectors
____ are people who gather information and organize content generated by critics and creators.
Connectivity
____ involves the use of digital networks to provide linkages between information providers and users.
Control
____ refers to customers' ability to regulate the information they view and the rate and sequence of their exposure to that information.