Marketing Exam 2
Socially responsible target marketing would classify which of the following as an especially vulnerable target market for harmful or controversial products?
Children
__________ is the practice of using the established brand names of two different companies on the same product.
Co-branding
A product line 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 types of outlets, or fall within given price ranges
Buying attitudes and preferences are a type of __________.
buyer response
Brand positioning __________.
can be done at three levels: product attributes, benefits, and beliefs and values
One factor influencing adoption is ________, which is the degree to which the new product fits the values and lifestyle of consumers.
compatibility
All the individuals and households that buy or acquire goods and services for personal consumption are known as the ________ market.
consumer
Social class is a type of ________ characteristic that influences consumer buying behavior.
cultural
Product position is __________.
defined by consumers on important attributes
Heeltoe, a boutique that caters to the footwear needs of women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on ________ variables.
demographic
Market targeting is __________.
evaluating each market segment's attractiveness and selecting one or more segments to enter
Consumers go through five stages in the process of adopting a new product. In the ________ stage, the consumer considers whether trying the new product makes sense.
evaluation
When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________.
generating person-to-person brand conversations
In the __________ stage, the consumer seeks information about the new product.
interest
TQM __________ .
is an approach in which all the company's people are involved in constantly improving the quality of products, services, and business processes
A service profit chain __________.
links service firm profits with employee and customer satisfaction
In demographic segmentation, __________.
marketers divide the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation
Firms that manufacture seasonal products target their consumers primarily through ________ segmentation.
occasion
Marketers of brands understand that they must figure out how to reach ____________ that can exert social influence on others.
opinion leaders
Countries can be segmented by __________ such as the type and stability of government, receptivity to foreign companies, monetary regulations, and amount of bureaucracy.
political and legal factors
The buyer makes the fewest decisions in the ________ and the most in the ________ decision.
straight rebuy; new task
The customer journey concept ________.
takes a holistic view of all the experiences a consumer has with a brand
An unsought product is a consumer product __________.
that the consumer either does not know about or knows about but does not normally consider buying
In the evaluation stage, __________.
the consumer considers whether trying the new product makes sense
Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as __________.
market segmenting
Through its mobile Whopper Detour promotion, Burger King offered discounted Whoppers to people close to a competing McDonald's restaurant. This is an example of which of the following?
Hyperlocal social marketing
__________ is expanding an existing brand name to new product categories.
A brand extension
What is a straight rebuy?
A business buying situation in which the buyer routinely reorders something without modifications
What is a modified rebuy?
A business buying situation in which the buyer wants to change product specifications, prices, terms, or suppliers
Which of the following is the correct definition of a product?
A product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.
User status, usage rate, and loyalty status are examples of which type of segmentation variable?
Behavioral segmentation
__________ is dividing a market into segments based on consumer knowledge, attitudes, uses, or response to a product.
Behavioral segmentation
__________ is the differential effect that knowing the brand name has on customer response to the product or its marketing.
Brand equity
When a company builds a brand, it needs to make important strategic decisions regarding the brand. Of the following, which is NOT one of those decisions?
Brand licensing opportunities
__________ can be done at three levels: product attributes, benefits, and beliefs and values.
Brand positioning
Which of the following correctly describes the classifications into which consumer products fall?
Convenience, shopping, specialty, unsought (CSSU)
_______ demand is the term used for business demand that ultimately comes from the demand for consumer goods.
Derived
Which type of market-coverage strategy involves targeting several market segments and designing separate offers for each?
Differentiated marketing
__________ is distinguishing a market offering from other offerings in order to create superior customer value.
Differentiation
__________ is a characteristic important in influencing an innovation's rate of adoption and described by the degree to which the innovation may be tried on a limited basis.
Divisibility
Which of the following is NOT one of the typical advantages of e-procurement systems?
Improving customer-supplier relationships
__________ is tailoring products and marketing programs to the needs and preferences of particular customers.
Individual marketing
Which of the following correctly defines the consumer market?
Individuals and households that buy goods and services for personal consumption
Which adopter group is first to adopt a new product?
Innovators
Successful service marketing depends on external marketing using the four Ps. Service marketing today also requires which two nontraditional marketing approaches?
Internal and interactive
Marketers must make important decisions when developing individual products and services. Which of the following correctly identifies those important decisions?
Product attributes, branding, packaging, labeling and logos, and product support services
__________ is a group of people with shared value systems based on common life experiences and situations.
Subculture
________ segments are large or profitable enough to serve.
Substantial
Marketers need to understand and know four major influences on business buyer behavior. Which of the following is NOT one of those influences?
Supplier selection
__________ is the stage of the buyer decision process in which the consumer is motivated to locate more information.
The information search
__________ is the buyer's determination about which brand to select.
The purchase decision
A unique selling proposition is __________.
a specific attribute that a company chooses about a brand
Kidcomp, an American computer-manufacturing firm, targets children younger than age 10 by providing free games and applications. The firm's marketing approach is reflective of ________ segmentation.
age and life-cycle
What are the eight steps in the business buying decision process, in the correct sequence?
Problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and performance review
The type of segmentation that forms segments of consumers who have similar needs and buying behaviors even though they are located in different countries is known as _________.
intermarket segmentation
Technology advances have made B-to-B online purchasing possible. This is called ________.
e-procurement
__________ is a market-coverage strategy in which a firm goes after a large share of one or a few segments or niches.
Concentrated marketing
What are the five steps in the buyer decision process, in order?
Need recognition, information search, evaluation of alternatives, the purchase decision, and postpurchase behavior
Which of the following would make a segment less attractive to enter?
New entrants finding it easy to enter the segment
A belief is __________.
a descriptive thought that a person holds about something
Psychographic segmentation divides a market into __________.
different segments based on social class, lifestyle, or personality characteristics
When a company engages in ________marketing it ignores market segment differences and targets the whole market with one offer.
mass
The type of segment characteristic in which the size, purchasing power, and profiles of the segments can be quantified is known as __________.
measurable
__________ is tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments.
Micromarketing
Which value proposition offers not only higher quality, but also confers prestige upon the buyer?
More for more
What is the first step of the buyer decision process?
Need recognition
Which of the following terms does NOT mean tailoring products and marketing programs to the needs and preferences of individual customers?
Niche marketing
__________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world.
Perception
__________ is arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
Positioning
The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in this process?
Problem recognition
_________ is one problem with business-to-business e-procurement.
Suppliers being pitted against one another
___________ consists of many different people who play multiple roles in the buying process.
The buying center
What is learning?
The changes in an individual's behavior arising from experience
__________ determines if a buyer is satisfied or dissatisfied with a purchase.
The relationship between the consumer's expectations and the product's perceived performance
An industrial product is a product __________.
bought by individuals and organizations for further processing or for use in conducting a business
When a company segments a market by common languages, religions, values and attitudes, customs, and/or behavioral patterns, it is segmenting by __________.
cultural factors
Which of the following is NOT a psychological factor influencing consumer buying behavior?
self-concept
Need recognition is __________.
the first stage of the buyer decision process, in which the consumer notices a problem
Product mix ________ refers to the number of different product lines the company carries, while product mix ________ refers to the total number of items a company carries within its product lines.
width; length
__________ is the set of all products and items that a particular seller offers for sale.
A product mix
__________ is a relatively permanent and ordered division in a society whose members share similar values, interests, and behaviors.
A social class
__________ is the stage of the buyer decision process in which the consumer uses information to review different brands in the choice set.
Alternative evaluation
Mavis loves her new iPhone but wonders if a Samsung Note would have offered more benefits. This is an example of which of the following?
Cognitive dissonance
Which of the following is NOT among the major factors influencing consumer buying behavior?
Commercial
Consumers obtain information from numerous sources. Which of the following involves dealer and manufacturer websites, packaging, and displays?
Commercial sources
Which of the following refers to the degree to which an innovation fits the values and experiences of potential consumers?
Compatibility
Technological, political, and competitive influences are categorized as which type of major influence on business buyer behavior?
Environmental
In 2015 Target eliminated its "pink" and "blue" aisles, and it now sells lines such as a collection of back-to-school clothing, accessories, backpacks, and bedding that appeals to both boys and girls. This is an example of which type of marketing?
Gender-neutral
Which stage of the business buying decision process involves ranking the importance of reliability, durability, and price?
General need description
Munoz Specialty Foods groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Munoz creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its market?
Geographic
Which of the following are tradition-bound, suspicious of changes, and adopt the innovation only when it has become something of a tradition itself?
Lagging adopters
What are the four strategies marketers can use to develop their brands?
Line extensions, brand extensions, multibrands, and new brands
Which of the following statements regarding the business market is correct?
Many sets of business purchases are made for one set of consumer purchases.
__________ is dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.
Market segmentation
Which of the following describes the process of evaluating each market segment's attractiveness and selecting one or more segments to serve?
Market targeting
__________ are such things as product, price, place, and promotion and are considered part of the environment that influences the buyer's black box.
Marketing stimuli
At one time, Miller Beer was known as the "champagne of bottled beer." It was targeted at an elite class of customers. Later, to increase sales, Miller was repositioned to attract members of the working middle class. What is this segmentation method called?
Psychographic
__________ means that services are produced and consumed at the same time and cannot be separated from their providers.
Service inseparability
__________ means that services cannot be stored for later sale or use.
Service perishability
__________ means that the quality of services depends on who provides them and when, where, and how they are provided.
Service variability
Amazon is now promising same-day pick-up of goods as well as local secure pick-up points. What point of differentiation is this?
Services differentiation
According to the model of buyer behavior, what is in a buyer's "black box"?
The buyer's characteristics and decision process
According to Maslow's hierarchy, which of the following needs would a person seek to satisfy first?
Thirst
A store brand is __________.
a brand created and owned by a reseller of a product or service
Brand name selection begins with __________.
a careful review of the product and its benefits, the target market, and proposed marketing strategies
An attitude is __________.
a person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea
In the adoption process, __________ is when the consumer becomes familiar with the new product but lacks information about it.
awareness
A specialty product is a __________ .
consumer product with unique characteristics of brand identification for which a significant group of buyers is willing to make a special purchase effort
A(n) __________ is a consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort.
convenience product
Geographic segmentation is __________.
dividing a market into different units such as nations, states, regions, counties, cities, or even neighborhoods
__________ is tailoring brands and marketing to the needs and wants of cities, neighborhoods, and even specific stores.
local marketing
Brand sponsorship includes __________.
manufacturer's brands, private branding, licensing, and co-branding
Using intermarket segmentation, __________.
marketers form segments of consumers who have similar needs and buying behaviors even though they are located in different countries
A manufacturer of half-ton pickup trucks creates a positioning map for the U.S. half-ton pickup market. The position of each circle on the map indicates the brand's perceived positioning on two dimensions: price and orientation (economy versus performance). The size of each circle indicates the brand's relative market share. This is an example of a __________.
perceptual positioning map
If competitors cannot easily copy the benefit a company chooses to promote, that benefit is said to be _________.
preemptive
When luxury audio brand Bose positions its products on the innovative, high-quality listening experiences it gives users this exemplifies ________ differentiation.
product
H2Coast, an automobile manufacturer, produces fuel-efficient hybrid vehicles that are targeted toward high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on ________ variables.
psychographic
The marketing manager at Only Organic Delicatessen targets customers who are focused on organic, healthy food choices but who still want to dine out. The restaurant chain offers a wide variety of organic, low-fat, locally raised produce and foods. Only Organic's approach is best referred to as ________ segmentation.
psychographic
E-procurement refers to __________.
purchasing through electronic connections between buyers and sellers—usually online.
A purse company's ads feature the members of a popular reality show about housewives. Product sales increase significantly among fans. From fans' viewpoint, the reality show is a ________.
reference group
Companies use ________ to put their B-to-B purchasing requests online and invite suppliers to bid for the business.
reverse auctions
Occasion segmentation divides a market into __________.
segments according to moments when buyers get the idea to buy, actually make their purchase, or use the purchased item
Services are characterized by four key aspects: ______________.
services are intangible, inseparable, variable, and perishable
A __________ is usually compared, by consumers, on such attributes as suitability, quality, price, and style.
shopping product
Product quality is __________.
the characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs
Culture is known as __________.
the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions
A __________ is the full mix of benefits on which a brand is positioned.
value proposition
What are the five stages of the consumer adoption process, in the correct sequence?
Awareness, interest, evaluation, trial, and adoption