marketing exam 2 review
Which of the following is not necessarily true about demographic data? Most widely used data It is a measurement of people Consumers in the same income group have similar demand patterns It does not always give a complete picture
Consumers in the same income group have similar demand patterns ch 8
DSS
Decision Support System; interactive online system to help managers make better decisions
perceptual mapping
a means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers' minds
Dove Men + Care, a new brand under Dove is an example of ___________. Co-branding Brand extension Generics Private labels
brand extension ch 10
Which of the following products likely rated low on compatibility when it was first introduced in the market? Clothes washer Fast food restaurants Toaster Microwave oven
clothes washer ch 11
Which of the following is an element of supply chain management? Supply chain integration Demand integration Demand-supply integration Increasing demand
demand supply integration ch 13
Data from United States Census is an example of ___________ segmentation. Demographic Psychographic Geographic Benefit sought
demographic ch 8
5 common bases for segmentation
demographics, geographic, psychographics, benefits sought, usage segmentation (usage rate, 80/20 rule)
Which of the following has facilitated order processing? Customer relationship management Enterprise resource planning Electronic data interchange Planning schedule management
electronic data interchange (EDI) ch 13
causal research
explanatory cause and effect relationships scientific experiments
What are the different types of marketing research? Exploratory, descriptive, and competitive Exclusive, causal, and competitive Causal, experimental, and exhaustive Exploratory, descriptive, and causal
exploratory, descriptive, and causal ch 9
descriptive research
focus on "what" not "why" observational case study survey A&U, CSS
Which of the following is the largest nonprofit organization? American Red Cross New York Stock Exchange Governments World Wide Fund
governments ch 12
Which of the following is not part of the product life cycle? Introduction stage Decline stage Maturity stage Inception stage
inception stage ch 11
Which of the following is not an example of marketing research projects? Providing the marketing management team information to make good marketing decisions Examining the viability of a new product Understanding consumer preferences Increasing brand awareness
increasing brand awareness ch 9
McDonald's McFlurries with M&Ms in them is an example of ___________. Complementary co-branding Cooperative branding Ingredient branding Associate branding
ingredient branding ch 10
When adopting technology products, Jennifer tends to be a variety seeker and likes to try new products. She is likely to be a(n): Innovator Early majority Early adopter Late majority
innovator ch 11
performance monitoring research
market share changes, preferences changes, price levels, competitive activity... tracking (panels)
What method do marketers use to impress on customers the quality of their offering? Opinions of others Gauge the customers' expressions Provide surveys at the end of the service Interview costumers at the end of the service
opinions of others ch 12
Target's Up and Costco's Kirkland brands are examples of ___________. Manufacturer brand Generics Co-branding Private labels
private labels ch 10
Who do wholesalers sell to? Agents Brokers Retailers Distributors
retailers ch 13
What occurs in the maturity stage? Sales stabilize Sales continue to grow rapidly Sales decrease Companies can't make profits anymore
sales stabilize ch 11
Which of the following is a customer relationship management software? Microsoft Word Gmail Salesforce Asana
salesforce ch 13
What is business logistics? The physical movement of products through the supply chain The movement of services through the supply chain The coordination of activities The schedule time to complete a deliverable
the physical movement of products through the supply chain ch 13
Why are nonprofits also concerned about generating enough revenue? To keep operations going To meet the stakeholders' desires To provide funding to charities To increase profits in the long run
to keep operations going ch 12
Why would an American company prefer to partner up with a company in Mexico than a company in Singapore? To reduce transportation costs Communication is difficult with Singapore Singapore's technology is not as advanced It's a good idea to keep neighboring countries happy
to reduce transportation costs ch 13
What are companies in marketing channels also referred to as? Suppliers Partners Trade members Manufacturers
trade members ch 13
criteria for successful market segmentation
1. A market segment must be substantial and have enough potential customers to be viable 2. A market segment must be identifiable and measurable 3. Members of a market segment must be accessible to marketing efforts 4. A market segment must respond to particular marketing efforts in a way that distinguishes it from other segments
How much do nonprofits account for economic activity in the U.S? 40% 10% 20% 80%
20% ch 12
Which of the following is true during the growth stage? Revenue is very high Companies are making profits Competitors enter the market Market is stable
competitors enter the market ch 11
Why do we use samples instead of the population when doing marketing research? More accurate Saving time To avoid random error To acquire more data
Saving time ch 9
market
a group of buyers and sellers of a particular good or service
A software company launches a basic program, but it already has additional software that has more advanced features. What type of product would this be? Improvements over existing products New-to-the-world products Repositioned products Addition to existing product lines
addition to existing product lines ch 11
Which of the following is not a retail store? Chain stores, such as Target Supermarkets Online sellers such as Amazon An industrial distributor
an industrial distributor ch 14
When there is little or no relationship between channel members, it is called: Arm's-length Cooperative Integrated Exclusive
arms-length ch 13
optimizers
business customers who consider numerous suppliers (both familiar and unfamiliar), solicit bids, and study all proposals carefully before selecting one
4 types of consumer products
convenience -- unplanned, impulsive ,extensive dist shopping (comparing) infrequent, expensive specialty (luxury) exclusive dist unsought (burial plots, insurance, ... aggressive selling)
What type of stores have a wide and deep product mix with several different departments in the same store? Supermarkets Online retailing Department stores Specialty stores
department stores ch 14
What marketing term refers to how many variations of the same product a company has? Width Depth Variation Extension
depth ch 10
Which of the following is not a component of marketing research? Data analysis Develop marketing concept Collect primary data Conduct a survey
develop marketing concept ch 9
Which of the following is the most expensive exercise that a company undertakes? Introduction of new products Advertising Sales promotions Annual compensation of sales force
introduction of new products ch 11
What is the duty of the research team? Collect raw data Make marketing decisions Take intial action Present findings in a meaningful way
present findings in meaningful way ch 9
What is another term for responsive, in the context of segmentation? Reputable Restorable Reportable Actionable
Actionable ch 8
What is gap analysis? A tool used to identify gaps in customers' needs that are not being satisfied An analytical exercise to break down the gaps in perception of service at different levels A tool used to evaluate the market An exercise to address future trends in the market
An analytical exercise to break down the gaps in perception of service at different levels ch 12
Based on usage rate data, why do marketers want to target light users instead of heavy users? Because dominant players are already targeting heavy users Light users are easier to identify Light users can contribute more sales than heavy users Light users may have specific needs not met by the dominant players
Light users may have specific needs not met by the dominant players ch 8
What does MARS stand for? Measurable, accessible, responsive, substantial Marketing, application, restore, subsystem Mapping, application, report, system Metric, application, reputable, simple
Measurable, accessible, responsive, substantial ch 8
Which of the following is true about probability sampling? More representative of the population More convenient than nonprobability sampling Cannot draw any conclusive insight based on the result Data accuracy is not critical
More representative of the population ch 9
Which of the following is not valid for companies practicing multi-segment targeting? They try to cover most of the market with a variety of offerings They promote the same brand in different segments They are able to cover a bigger portion of the market They do not compete with their brands
They promote the same brand in different segments ch 8
captive brand
a brand that carries no evidence of a retailer's affiliation, is manufactured by a third party, and is sold exclusively at the retailer
If a marketer wants to conduct personal interviews in a wide geographic, the most cost-effective way is to sample a few cities instead of traveling all over the region. This is an example of the use of ___________. Stratified sampling Systematic sampling Convenience sampling Cluster (area) sampling
cluster (area) sampling ch 9
2 bases for segmenting B2B markets
company characteristics or buying processes used
Which of the following is a key characteristics impacting the rate of adoption? Informality Modernity Compatibility Traditionality
compatibility ch 11
The purpose of ___________ is to try to gather and analyze a specific, well-defined set of data that meet the project's need. Observation research Experimental research Cause-effect research Marketing research
marketing research ch 9
Which of the following is not a service dimension that the customer uses to evaluate quality? Assurance Price Empathy Tangibles
price ch 12
bases for positioning
price and quality (target) product class (margarine with butter) competitor (galaxy v. iPhone) emotion (just do it, pampers) repositioning (Hyundai quality)
What are innovations? Products that are perceived to be new by the consumers Products that have already been released to the consumers Products that have gone through some modification Products that are standardized
products perceived to be new ch 11
exploratory research
secondary, focus groups
Sears carries other brands besides their own brand Kenmore, because consumers want to be able to make comparisons. This is a good strategy for ___________. Shopping goods Unsought goods Specialty goods Convenience goods
shopping goods ch 10
Which of the following is a characteristic of products that are easy to understand, resulting in a faster adoption? Compatibility Trialability Simplicity Communicability
simplicity ch 11
What are the three groups of functions we talked about here? Need, fund, and will Source, make, and deliver Order, confirm, and fulfill Schedule, activity, and deliver
source, make, and deliver ch 13
undifferentiated targeting strategy
a marketing approach that views the market as one big market with no individual segments and thus uses a single marketing mix
multi-segment targeting
a strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each
concentrated targeting strategy
a strategy used to select one segment of a market for targeting marketing efforts
satisficers
business customers who place an order with the first familiar supplier to satisfy product and delivery requirements
How does demand management serve customers in the most cost-effective manner? By managing inventory through collaborative planning to reduce costs By working with customers to manage their demand By integrating the management of core business process By allowing customers to understand the service provided
by managing inventory through collaborative planning to reduce costs ch 13
Which of the following is not a type of distribution system? Intensive Selective Exclusive Matrix
matrix ch 13
The task of actual data collection is typically done by ___________. Management team Marketing team A contracted field service firm Research team
contracted field service firm ch 9
There is an enhanced understanding between channel members and less use of formal contracts in what type of relationships? Arm's-length Cooperative Exclusive Intensive
cooperative ch 13
Which of the following components treats the customer respectfully? Reliability Assurance Responsiveness Empathy
empathy ch 12
marketing research vs. competitive market intelligence
intelligence = ongoing, research about market and competition research = need driven project based research
Which of the following is false about casual research? It uses an experimental setting It aims at establishing causality that variable A causes variable B It uses controlled studies It is used to explore the research problem and provide insight
it is used to explore the research problem and provide insight ch 9
Which of the following is not a service? Restaurant Consulting Bowling Laptop
laptop ch 12
What is the goal of idea generation? Create a long list of ideas To network among peers Create a business plan To come up with good ideas
long list of ideas ch 11
An automobile manufacturing company wanted to come up with a new model that targets female drivers with ages between 18 and 30. What type of data source should they use during the product development stage? Competitive intelligence Marketing research Market intelligence Industry research
marketing research ch 9
Which of the following integrations delivers materials and services to offer better value? Demand-supply integration Technology and planning integration Supply chain integration Material and service integration
material and service integration ch 13
Which of the following is typically not a downside of using public data? May not get good quality data May not exist May be expensive Reliability may be questionable
may be expensive ch 9
4 criteria for segmentation (MARS)
measurable accessible responsive (actionable) substantial
Which of the following is not a category of adopters? Innovators Laggards Mid majority Late majority
mid majority ch 11
Companies often tweak formulations to make it more appealing. This is called product ___________. Repositioning Modification Obsolescence Extension
modification ch 10
If Ford decides to manufacture and sell electric vehicles into the market, what type of development would it be? New-to-the-world products Repositioned products New product lines Improvements over existing products
new product lines ch 11
Launch of products that no other company has ever made is called: New product lines Additions to existing product lines New-to-the-world products Repositioned products
new to the world ch 11
A market that targets a relatively small and well-defined segment of the population is called a ___________. Focus market Niche market Small market Customized market
niche market ch 8
Increasing response rate can help minimize ___________. Nonresponse error Frame error Response bias Random error
nonresponse error ch 9
If more retirees respond to a survey, it will cause the answers to be systematically different from the general population of interest. This will contribute to ___________. Nonresponse error Frame error Response error Random error
nonresponse error ch 9
What type of retail store allows customers to buy items in the comfort of their homes? Automatic vending machines Department stores Convenience stores Online stores
online stores ch 14
What is 3PL? Outsourcing an entire logistical function Products are manufactured with the pull system Managing inventory from the supplier to manufacturer The physical movement of products in a supply chain
outsourcing an entire logistical function ch 13
Which of the following is not a category of service provided in retail stores? Self-service Limited service Full-service Part-time service
part-time service ch 14
Which of the following is the most important for retailers? Ownership Level of service Product assortment Store image
product assortment ch 14
What is customer integration? The ability of partner firms to rely on each other Multiple firms coordinating their activities to increase customer demand Providing long-lasting value-added offerings to customers The ability to manipulate demand to meet supply
providing long-lasting value-added offerings to customers ch 13
In a health survey, people might say that they eat better than they do. This can be seen as a ___________. Nonresponse error Frame error Response bias Random error
response bias ch 9
Bobby is going to travel to Singapore and is trying to search for the best tourist company. What type of quality measure is Bobby using? Search Experience Credence Speed
search ch 12
Data pulled from United States Census is an example of ___________. Primary data Secondary data Paid data Private data
secondary data ch 9
Packaging for marketing and promotion purpose is also called a ___________. Primary packaging Secondary packaging Repacking Tertiary packaging
secondary packaging ch 10
Which of the following maintains relationships with key suppliers? Customer relationship management Customer service management Product development Supplier relationship management
supplier relationship management ch 13
How are companies protecting themselves in case of a natural calamity? Outsourcing Supply chain security By having one main location By having online distribution
supply chain security ch 13
Which of the following is not the typical data source for exploratory research? Secondary research Surveys Focus groups In-depth qualitative interviews
surveys ch 9
Companies have to pay to get the following type of high-quality data. Public data Primary data Syndicated data Private data
syndicated data ch 9
secondary data
syndicated data included data that is already published (census)
Which of the following products can be considered an impulse good? Tabloid newspapers Refrigerator Tooth paste Coffee
tabloid ch 10
The segment a company chooses to serve is called: Target company Target market Target group Target sales
target market ch 8
market segmentation
the process of dividing a market into meaningful, relatively similar, and identifiable segments or groups
Why is it important for retailers to create a meaningful product mix of the products on their shelves? Their appeal to their customers depends mainly on having a sensible assortment They have a limited shelf space To get the attention of their customers To remind their customers about their products
their appeal to their customers depends mainly on having a sensible assortment ch 14
How do intermediaries add value to the customer? They introduce new products They provide supplies to the manufacturers They reduce the number of transactions They increase the number of transactions
they reduce the number of transactions ch 13
What targeting strategy is the company using when deciding to go after the entire market with one product? Multi-segment targeting Single segment targeting Concentrated targeting Undifferentiated targeting
undifferentiated targeting ch 8
Which of the following is not a step in the new product development process? Idea generation Development Commercialization Validation
validation ch 11
Which of the following is considered a part of an augmented product? Brand name Warranty Packaging Product feature
warranty ch 10
