Marketing 300D

Which of the following is the division of a market according to end results that consumers want from the product?

Benefit segmentation

Major must have done something to them that caused the plants to die, such as overwatering them. Green Acres doesn't have any money-back guarantees. Major is angry that he can't get a refund or replacement. At this time, Major's best course of action would be to contact the

Better Business Bureau.

The director of marketing for Duck Brand tells the rest of the management team, "When it comes to our duct tape unit, our strategy will be to use funds generated here to support our venture in the industrial bonding market." This strategy indicates that the duct tape unit falls into which one of the following classifications?

Cash cow

A differentiated targeting strategy is when the organization targets two or more markets by developing a single marketing mix.

False

An individual's after-tax income is called his or her discretionary income, which is used for spending and/or saving.

False

An undifferentiated targeting strategy does not target a single market with one marketing mix.

False

Dissatisfaction may occur shortly after a purchase; this is called cognitive dissatisfaction.

False

Esteem needs are the highest level in Maslow's hierarchy of needs.

False

​The marketing concept directly affects marketing activities but should have negligible impact on other organizational activities.

False

Of all the federal regulatory units, the ____ most heavily influences marketing activities.

Federal Trade Commission (FTC)

Chrysler is producing a new seven-passenger SUV with all-wheel drive. Which of the following would be the best variables for segmenting the market for this new model?

Geographic location and family life cycle

According to Maslow's hierarchy of needs,

Individuals first satisfy the most basic needs and then try to fulfill needs at the next level up.

Which one of the following is most likely to be a product for which both the purchasing decision and the brand decision are strongly influenced by reference groups?

Jeans

Cyberdyne Industries' clever promotion campaign, which included YouTube videos of its artificial intelligence software in action as well as clever tweets and Instagram posts, helped boost the firm's product sales. This would suggest that Cyberdyne is using which of the following competitive strategies?

Market penetration

Which of the following is NOT an example of the implementation of the marketing concept?

McDonald's reduces the labor costs to produce its sausage-egg biscuits.

Cameras, counting machines, and scanners are used most often in

Observation

Which of the following is NOT a factor cited in the text that affects the strategy for selecting a target market?

Organizational structure

Which of the following is NOT one of the major categories of consumer market segmentation variables?

Situational variables

​During the Industrial Revolution demand for manufactured goods was

Strong

Which of the following variables would most likely be used to segment a business market?

The geographic location of the company

Why would a company use the undifferentiated strategy?

The needs of individual consumers in the target market for a specific product are similar, so the organization can satisfy most customers with a single marketing mix.

The concentrated targeting strategy is one in which an organization directs its marketing efforts toward a single market segment through one marketing mix.

True

When evaluating the alternatives, the buyer rates and eventually ranks the brands in the consideration set.

True

​The distribution variable in a marketing mix is directed toward making products available in the quantities desired to as many target market customers as possible and keeping the total inventory, transportation, and storage costs as low as possible.

True

​The marketing concept is a philosophy that a business organization should employ to satisfy customers' needs while achieving the overall goals of the organization.

True

​The marketing concept is best defined as

a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals.

Coors may choose to segment its market based on heavy, moderate, and light drinkers of its alcoholic beverages. This is an example of market segmentation based on

behavioristic variables.

Positive Trends Co segments its diet pills based on those who have morning cravings, those who tend to overeat near the end of the day, those who need all day long appetite suppression, and those who want appetite control and more energy. This is an example of market segmentation based on variables of

behavioristic.

The problem with using an undifferentiated strategy to market a "universal car" is that

car buyers have heterogeneous needs

Which of the following describes the relationships among the three planning levels, from broadest to narrowest?

corporate strategy; business-unit strategy; marketing strategy

In addition to the proliferation of new organic brands, many conventional marketers have introduced organic versions of their products, including Gatorade, Kraft Heinz, and even Kroger. These firms are responding to changes in

cultural values

​Issues of inventory levels and storage costs are both concerns relating to the ____ variable of the marketing mix.

distribution

The purpose of market segmentation is to

divide a total market to enable a marketer to develop a more precise marketing mix.

When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n)

expert forecasting survey.

Information from the U.S. Census Bureau is commonly used as ____ by a variety of agencies and organizations.

external secondary data

A marketer that targets customers based on marital status and the presence and age of children is using

family life cycle

If Progresso were to offer single-serving packages of soup, it would be using segmentation based on

family life cycle.

Chrisjen Nagata and seven other people were paid to get together and discuss a new product idea proposed by Procter & Gamble. Researchers observed the interaction of the group. During the discussion, Chrisjen was annoyed that Sadavir, another participant, seemed to "hog" the discussion and didn't give others a chance to speak. This is an example of a problem when using

focus-group interviews.

Systems such as Claritas and PRIZM provide companies with lifestyle and demographic information about neighborhoods throughout the United States. This information is used to aid

geodemographic segmentation

Within the buying center, ____ are technical personnel who develop product specifications and evaluate alternatives, while _____ actually choose the products.

influencers; deciders

When charitable organizations such as the American Cancer Society, Second Harvest Food Bank, and the Red Cross make purchases for goods and services to use in their daily operations, they would be considered to be _______ buyers.

institutional

three most widely recognized types of consumer decision making

limited problem solving, extended problem solving, and routinized response behavior.

The total volume of a product, for all firms in an industry, that would be purchased by specific customer groups within a specified time period at a given level of industry-wide marketing activity, is the

market potential.

Most business purchases can be classified as belonging to one of three types:

modified rebuy, new-task, or straight rebuy.

If Kashi, the maker of Go Lean breakfast cereal, wants to know what percentage of customers examine product labels before making a product selection in the grocery store, it can best gain this information through

observation

The five major stages of the consumer buying decision process, in order, are

problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation.

Making modifications to packaging or brand names involves the ____ component of the marketing mix.

product

When Smartsheet, a producer of software, delayed the introduction of its new app to modify the package, its scheduled TV advertisements announcing the new product needed to be revised. In this case, a change in the ____ variable caused changes in the ____ variable of the marketing mix.

product; promotion

In business markets, individuals or groups purchase products for one of three purposes. These purposes are

resale, direct use in producing other products, and use in daily business operations.

During the 1920s, competition increased and businesspeople realized they had to do more than just focus on manufacturing, which led to the ____ orientation.

sales

If Dillard's were to use the available data about consumer attitudes, it would be using ___ data; however, if Dillard's does its own study it would collect ______ data.

secondary; primary

The final step in the target market selection process is

selecting specific target markets.

The three major categories of influences on the consumer buying decision process are

situational influences, social influences, and psychological influences.

People for the Ethical Treatment of Animals (PETA) has demonstrated against the sale of coats made of animal furs. PETA's efforts to change shoppers' attitudes most directly represents a ____ force for fur retailers.

sociocultural

Amos Holden runs a successful wholesale business that sells equipment to restaurants throughout the Southwest. He is considering purchasing his own fleet of trucks to deliver the equipment instead of relying on a shipper as he is currently doing. This most closely represents a decision about

the best way to distribute his products.

Coca-Cola has in recent years developed or acquired new non-cola products to appeal to changing consumer preferences for less sugar in their products. The most likely factor in this change is changes in

the sociocultural forces of the marketing environment

The forecasting techniques that assume past sales patterns will continue into the future are all variations of

time series analysis.

Organizations should define themselves not according to the products they produce but according to

​how they satisfy customers.