marketing exam 2

"Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods." This is an example of ________. A) Geographic segmentation B) Product diversification C) Branding D) Psychographic segmentation E) Demographic segmentation

A

ASU purchases ceiling tiles as a straight rebuy from GE, therefore GE as__________. A) The "in" supplier must maintain product and service quality to keep the business B) The "in" supplier will feel pressured to protect an account C) The "out" suppliers will view the situation as an opportunity to gain new business D) ASU is buying ceiling tiles for the first time E) ASU buyers are keen on revising product specifications for ceiling tiles

A

Hispanic Americans tend to be deeply family oriented and make shopping a family affair. Older consumers are brand loyal, while younger Hispanics have shown increasing price sensitivity and willingness to choose store brands. Hispanic Americans make up a ________. A) Subculture B) Social class C) Social network D) Life-cycle stage E) Lifestyle

A

Paul, a purchasing agent for Kiel Inc., has the authority to prevent salespersons from seeing the decision makers in his organization. Which of the following best describes Paul's position? A) Gatekeeper B) Decider C) Influencer D) Buyer E) User

A

Ralph works for a manufacturing company in Ohio. Recently, he called in a department manager to assist in the purchase of some heavy machinery. After consulting the department manager, Ralph is considering a change in product specifications and characteristics and expects suppliers to meet his requirements. Which of the following is evident here? A) Modified rebuy B) New task C) Straight rebuy D) Product differentiation E) Reverse auction

A

The Trump Hotel organization runs a premium membership club that caters to customers whose annual salary exceeds $100,000. Members of this club are offered seasonal discounts on select luxury rooms in select cities worldwide. The Trump organization most likely follows a(n) ________ segmentation approach. A) Income B) Gender C) Occasion D) Benefit E) Geographic

A

The ________ refer(s) to all the individuals and units that play a role in the purchase decision-making process. A) Buying center B) Influencers C) Users D) Gatekeepers E) Systems sellers

A

The business marketer normally deals with ________ than the consumer marketer does. A) Far fewer but far larger buyers B) Far more but far smaller buyers C) Negligible customer complaints D) Far less fluctuations in demands E) Far more elastic demand

A

The relationship between the consumer's expectations and the product's ________ determines whether the buyer is satisfied or dissatisfied with a purchase. A) Perceived performance B) Brand personality C) Market reach D) Consumer market E) Market share

A

A marketer wanting to determine business buyer behavior is most likely to ask which of the following questions? A) Are buyers sensitive toward price changes in consumer markets? B) What are the major influences on buyers? C) Are niche markets more profitable than mass markets? D) How do interpersonal factors affect organizational performance? E) Is the role of gatekeepers relevant in the international business environment?

B

Business demand that ultimately comes from the demand for consumer goods is known as ________ demand. A) Negative B) Derived C) Primary D) Consumer E) Elastic

B

Consumers learn about new products for the first time and make the decision to buy those products during the ________. A) Need recognition stage B) Adoption process C) Evaluation process D) Trial process E) Quality assessment stage

B

Robert has taken up cycling as a hobby and as a way to maintain his physical fitness. He wants to buy a hydration system since he will need a lot of water as he cycles. Having gathered a great deal of information, he has finally narrowed down his choices to three systems: Water bags for Roadies, Supertanker Hydro packs, and Fast Water. Robert is in the ________ stage of the buyer decision process. A) Need recognition B) Evaluation of alternatives C) Product trial D) Post purchase evaluation E) Information search

B

Robert has taken up cycling as a hobby and as a way to maintain his physical fitness. He wants to buy a hydration system since he will need a lot of water as he cycles. Having gathered a great deal of information, he has finally narrowed down his choices to three systems: Waterbags for Roadies, Supertanker Hydropacks, and Fast Water. Robert is in the ________ stage of the buyer decision process. A) Need recognition B) Evaluation of alternatives C) Product trial D) Post purchase evaluation E) Information search

B

When the size, purchasing power, and profile of a market segment can be calculated, the market is ________. A) Profitable B) Measurable C) Substantial D) Actionable E) Competitive

B

Which of the following factors influencing the business buying process do marketers typically find most difficult to assess? A) Economic B) Interpersonal C) Technological D) Organizational E) Environmental

B

________ calls for dividing the market into regions, states, counties, cities, or even neighborhoods. A) Benefit segmentation B) Geographic segmentation C) Demographic segmentation D) Psychographic segmentation E) Occasion segmentation

B

________ may help shape product specifications, but their major role is to select vendors and to negotiate. A) Gatekeepers B) Deciders C) Buyers D) Influencers E) Users

C

A market segment that is large enough or profitable enough to serve is ________. A) Measurable B) Accessible C) Substantial D) Profitable E) Differentiable

C

A nurse in a hospital told the chief dentist, Dr. Albrecht, that the hospital should purchase equipment that would sterilize the dentists' tools without using any water because water tends to affect the durability of the tools over time. Dr. Albrecht located some articles on chemical sterilizers and gathered more information on how they worked. After talking to salespeople, Dr. Albrecht finally placed his order for the machine. In this instance, Dr. Albrecht played the role of a (n) ________. A) Monitor B) Agent C) Decider D) Influencer E) Gatekeeper

C

After the purchase of a product, consumers will be either satisfied or dissatisfied and engage in ________. A) Consumer capitalism B) Alternative evaluation C) Post purchase behavior D) Consumer ethnocentrism E) Information searches

C

Business markets are similar to consumer markets in that ________. A) The nature of the buying unit is the same for both B) The decision processes involved in both the markets are same C) Both involve people who assume buying roles and make purchase decisions to satisfy needs D) Both share the same market structure E) The types of decisions are fairly consistent in both the markets

C

Demand for outboard motors depends on consumers purchasing fishing boats. This is an example of ________ demand. A) Primary B) Composite C) Derived D) Elastic E) Negative

C

James has decided to buy a new vehicle. His brother John has recently purchased a new truck and recommends the same model to James. James finally decides to buy the same truck. Which of the following sources of information has most likely influenced James' purchase decision? A) Experiential sources B) Public sources C) Personal sources D) Commercial sources E) Market mavens

C

Jeremy's, a handbag manufacturer in Lower Manhattan, procures a large stock of leather in anticipation of brisk sales of handbags during December. This is an example of a(n) ________ demand. A) Composite B) Primary C) Derived D) Latent E) Inelastic

C

Pacific Fisheries divides its customers into different regional units, such as Asia, Australia, and the Americas. This is an example of ________ segmentation. A) Demographic B) Psychographic C) Geographic D) Occasion E) Benefit

C

The latest trend in the United States involves rediscovering the benefits of home-cooked food and the use of organic ingredients. People are choosing to spend hours in the kitchen using only the freshest ingredients to cook healthy and nutritious meals. This change in ________ is one of the reasons for the increasing demand for organic ingredients. A) Self-concept B) Subculture C) Lifestyle D) Personality E) Life-cycle

C

Which of the following terms refers to a specific mix of human traits that may be attributed to a particular brand? A) Brand perception B) Brand identity C) Brand personality D) Brand concept E) Brand equity

C

A recent study conducted by Estelle Cosmetics Company showed that heavy users of Estelle's products comprise a small percentage of the market. The study indicated that less than 7 percent of all shoppers buy nearly 71 percent of Estelle's products in the United States. This is an example of ________. A) Benefit segmentation B) Segmentation by loyalty status C) Psychographic segmentation D) Segmentation by usage rate E) Occasion segmentation

D

A shoe manufacturing company uses ads featuring the members of a country music band with the hope that the band's fans will see them wearing the company's shoes and hence purchase the same brand of shoes. The shoe company believes that the band portrays the image of a ________ to the band's fans. A) Membership group B) Subculture C) Status symbol D) Reference group E) Lifestyle

D

AC/DC, a popular Australian heavy-metal band will perform in Berlin during Christmas. There is a high demand for concert tickets among fans worldwide that are looking forward to the much-awaited performance. In this instance, the high demand for tickets for the AC/DC concert is representative of ________ demand. A) Primary B) Negative C) Derived D) Elastic E) Business

D

Harley-Davidson promotes its motorcycles with images of independence, freedom, and power. Harley-Davidson has created a ________. A) Motive B) Life-cycle stage C) Self-concept D) Brand personality E) Self-actualization need

D

Pfizer a Drug Company produces insulin, a product with a very stable demand. Even though the price changed several times in the past two years, the demand for Pfizer's insulin remained relatively unaffected. In this instance, the demand for insulin is representative of ________ demand. A) latent B) Negative C) Derived D) Inelastic E) Composite

D

The United States Environmental Protection Agency (EPA) has mandated that, in order to reduce local pollution, all printing plants have to switch from oil-based inks to water-based inks. This will require entirely new printing presses and the procurement of a completely different printing plate technology. In this instance, the buying center of an organization using printing plants is most likely to face ________. A) A need for market segmentation B) A need for market diversification C) A straight rebuy situation D) A new task situation E) Delayed differentiation

D

The information sources that are the most effective at influencing a consumer's purchase decision are ________. These sources legitimize or evaluate products for the buyer. A) Commercial B) Public C) Experimental D) Personal E) Attitudinal

D

When a customer feels uneasy about losing out on the benefits of a brand not purchased, she is likely to experience ________. A) Selective retention B) Selective attention C) Selective distortion D) Cognitive dissonance E) Consumer ethnocentrism

D

When an effective program can be designed for attracting and serving a particular segment, the segment is best described as ________. A) Accessible B) Measurable C) Competitive D) Actionable E) Differentiable

D

________ involves actually distinguishing the firm's market offering to create superior customer value. A) Mass customization B) Diversifying C) Market segmentation D) Differentiation E) Targeting

D

________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world. A) Motivation B) Learning C) Dissonance D) Perception E) Self-actualization

D

________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation. A) Geographic B) Benefit C) Occasion D) Psychographic E) Demographic

E

ASU enrolled 200 graduate students in the Fall of 2015. However, the enrollment rate was only slightly affected following a 12 % hike in tuition the following fall. This illustrates ___________demand. A) Derived B) Negative C) Highly elastic D) Composite E) Inelastic

E

In a ________ situation, the "in" suppliers may become nervous and feel pressured to put their best foot forward to protect an account and the "out" suppliers may see the present situation as an opportunity to make a better offer and gain new business. A) Straight rebuy B) New task C) Reverse auction D) Solutions selling E) Modified rebuy

E

Leona bought two different brands of wine from vineyards in Australia. When asked for her opinion about the wines, she said that one brand of wine tasted like alcoholic grape juice, but the other had a crisp taste that she really enjoyed. These statements were most likely made during the ________ stage of the buyer decision process. A) Information search B) Need recognition C) Alternative evaluation D) Purchase decision E) Post purchase behavior

E

Lizzy bought two different brands of wine from vineyards in Australia. When asked for her opinion about the wines, she said that one brand of wine tasted like alcoholic grape juice, but the other had a crisp taste that she really enjoyed. These statements were most likely made during the ________ stage of the buyer decision process. A) Information search B) Need recognition C) Alternative evaluation D) Purchase decision E) Post purchase behavior

E

Marketers often segment international markets according to the type and stability of government. In such instances, they segment markets based on ________. A) Geographic location B) Economic factors C) Cultural factors D) Socio-cultural factors E) Political factors

E

The Subaru automobile company works to keep its customers happy after each sale, aiming to delight each one of them in order to increase their customer lifetime value. Which of the following steps of the buyer decision process does the company exemplify? A) Need recognition B) Information search C) Evaluation of alternatives D) Purchase decision E) Post purchase behavior

E

VFC a manufacturer of shoes, has recently launched a brand of sturdy shoes ideal for hiking and other outdoor activities under the Timberland Brand. Which of the following brand personalities could be best associated with the new brand? A) Sincerity B) Excitement C) Sophistication D) Competence E) Ruggedness

E

What is the most important consumer buying organization in society? A) Reference groups B) Social class C) Membership group D) Subculture E) Family

E