MKT 350 Quiz 2 - Pierson

__________ is the marketing term for "buyer's remorse" when a consumer regrets making a purchase. a. Cognitive dissonance b. Cerebral dissonance c. Scientific regret d. Post-purchase resistance

Cognitive dissonance

When shopping for detergent, Alexis looks at Tide, Fresh Start, Surf, and All and chooses the one that is on sale. These four brands make up her ____ set. a. consideration/evoked b. alternate c. problem d. imposed e. purchase

a. consideration/evoked

____ are small technology-based firms operating in international markets almost immediately after their establishment and realizing as much as 70 percent of their sales outside the domestic home market. a. "born globals" b. "multinational corporations" c. "natural globals" d. "born multinationals" e. "multinational enterprises"

a. "born globals"

When Starbucks decided to expand into the international markets of India, Japan, and Argentina, management realized that there would be significant differences in the standards of living, credit, buying power, and income distribution in those countries. Starbucks is currently examining the ____ forces in its environmental analysis. a. economic b. cultural c. legal d. ethical e. technological

a. economic

The three purposes for which individuals or groups can use products in order for it to be considered a business market are a. resale, use in daily operations, and direct use in producing other products. b. governmental, institutional, and reseller purposes. c. use in daily operations, end consumption, and resale. d. making other products, selling to other businesses, making component parts. e. direct use in producing other products, company travel, and end consumption.

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

Problem recognition occurs when a consumer a. recognizes a need and evaluates for information to resolve a problem. b. becomes aware that there is a difference between a desired state and an actual condition. c. searches for information to resolve a problem. d. is exposed to a television advertisement desired state and an actual condition. e. evaluates her or his purchase.

b. becomes aware that there is a difference between a desired state and an actual condition.

The three major types of reference groups are: a. advocacy, avoidance, and approach. b. aspirational, dissociative, and membership. c. celebrity, membership, and aspirational. d. family, peer group, and empirical. e. actual, implied, and desired.

b. aspirational, dissociative, and membership.

Around the world, the care and washing of clothing is very different. When a chemist at Proctor and Gamble develops different laundry detergent formulas for customers in Japan, Germany, and the United States, Proctor and Gamble is engaging in the _______ strategy of international marketing. a. globalization b. customization c. segmentation d. outsourcing e. licensing

b. customization

The forces that affect foreign markets may differ dramatically from those affecting domestic markets. This makes a careful ____ a critical part of a successful international marketing strategy. a. social audit b. environmental analysis c. marketing analysis d. political analysis e. regulatory analysis

b. environmental analysis

Nathan is having trouble deciding which gaming console to get. He is stuck between getting a PlayStation 4 or an XBOX One. To help him make this choice, Nathan gets out a piece of paper and writes down the objective and subjective product characteristics that are important to him, like price, games played on each console, and available accessories. In terms of the consumer decision process, what is Nathan writing down? a. product specs b. consideration set c. evoked set d. evaluative criteria

d. evaluative criteria

Tori went to Sam's Wholesale Club to shop for a party she was hosting on the weekend. She knew that she could buy larger quantities of food items than she normally did, and they would also be much less expensive. She checked everything off her list and proceeded to the checkout lines. Passing a display of fresh flowers, she thought "Wouldn't those be nice for the party?" She selected one of the bouquets and placed it in her cart. Tori has most likely engaged in ______ when selecting the food for her party, and ____ when selecting the flowers. a. extended decision making; compulsive response behavior. b. routinized decision making; impulse buying. c. routinized decision making; compulsive response behavior. d. limited decision making; impulse buying. e. limited decision making; cognitive dissonance.

d. limited decision making; impulse buying.

When products are introduced into one nation from another, acceptance is far more likely a. if prices are set very low. b. if packaging is adjusted to match local preferences. c. when retailers are given incentives to push the products. d. when bribes are paid to local officials to aid distribution. e. if there are similarities between the two cultures

e. if there are similarities between the two cultures.

The five major stages of the consumer buying decision process, in order, are a. problem recognition, information search, evaluation of alternatives, postpurchase evaluation and purchase. b. problem recognition, purchase, evaluation of alternatives, postpurchase evaluation, and rebuy. c. information search, evaluation of alternatives, purchase, trial adoption period, and postpurchase evaluation. d. information search, establishment of product criteria, evaluation of alternatives, purchase, and postpurchase evaluation e. problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation.

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

What is a primary difference between business and consumer buyers? a. Consumer buyers require more product information than business buyers. b. Repeat sales are more common with consumer buyers than business buyers. c. Business purchases are made by one individual whereas families make consumer purchases together. d. Consumers primarily buy inexpensive items; businesses only buy expensive items. e. Business buyers generally make larger orders than consumer buyers.

e. Business buyers generally make larger orders than consumer buyers.

When a firm designs a single marketing mix and directs it at an entire market for a particular product, the company is using a(n) ____ strategy. a. single mix b. heterogeneous market c. differentiated d. concentrated targeting e. undifferentiated

e. undifferentiated

Any group of people who, as individuals or as organizations, have needs for products in a product class and who have the ability, willingness, and authority to buy such products is a(n) a. segmented market b. market. c. undifferentiated market d. market variable e. business market.

market

The process of dividing a total market into market groups because people within each group have relatively similar product needs is called a. target marketing. b. segmentation. c. concentration. d. diversification. e. customization.

segmentation

Age, rate of product use, location, and gender are all examples of common a. targeting strategies. b. geographic characteristics. c. segmentation variables. d. psychographic variables. e. demographic variables

segmentation variables

Purchasers who purchase products for personal or household use and not for business purposes are called the a. household purchasing group. b. end-use consumption group. c. ultimate consumers. d. business market. e. organizational market.

ultimate consumers

Which of the following is not a requirement or characteristic of a market? A large number of people or organizations b. The ability to purchase a product c. The willingness to use buying power d. The need for a specific product in a specific product category e. The authority to buy a product

A large number of people or organizations

Steve and Kim both decide that they want to buy a grill to host cookouts all throughout summer for their friends and family. They do their research by reading publications such as consumer reports and using online search engines. They are conducting what type of search? a. Internal search b. External search c. Alternatives search d. Digital marketing search

External search

The first step in the target market selection process is a. developing market segment profiles. b. identifying an appropriate targeting strategy. c. evaluating relevant market segments. d. selecting specific target markets. e. determining which segmentation variables to use.

b. identifying an appropriate targeting strategy.

Abercrombie & Fitch is developing a program to get to know its customers. Which of the following is not a reason why A&F needs to understand consumer buying behavior? a. the marketing concept stresses that a firm should know its customers b. customer's reactions to marketing strategy can impact the firm's success c. a firm should create a marketing mix that satisfies customers d. all customers are the same when it comes to buying behavior e. it helps the marketer predict how consumers will respond to marketing strategies

d. all customers are the same when it comes to buying behavior

When asked where Laser Tools, Inc., markets its products, company president and founder Roger Helms says that "the world is just one big market." He feels anyone not taking this stance is systematically passing up profitable business. Helms's international marketing strategy is best described as a. limited exporting. b. customization of marketing. c. full-scale international marketing. d. globalization of marketing. e. export agenting.

d. globalization of marketing.

The purpose of market segmentation is to a. reduce the overall cost of marketing activities. b. meet the needs of homogeneous markets. c. identify a single marketing mix that will be satisfactory for the general market. d. differentiate products. e. divide a total market to enable a marketer to develop a more precise marketing mix.

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