mkt exam 2
The role of a company's marketing information system (MIS) is important because ______________.
it enables a company to use customer insights to improve relationships with customers
Which type of market segmentation has long been used in clothing, cosmetics, toiletries, and magazines?
Gender
__________ refers to a prescribed number of people in each of several categories who are identified and interviewed by the researcher.
Quota sample
__________ 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
__________ is marketing research to better describe marketing problems, situations, or markets such as the market potential for a product or the demographics and attitudes of consumers.
Descriptive research
__________ is two or more people who interact to accomplish individual or mutual goals.
a group
H2Coast, an automobile manufacturer, produces fuel-efficient hybrid vehicles that are targeted toward middle-income consumer groups. H2Coast most likely segments the consumer market based on ________ variables.
demographic
__________ is dividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.
demographic segmentation
__________ is the stage of the buyer decision process in which the consumer is motivated to locate more information.
information research
In the __________ stage, the consumer seeks information about the new product.
interest
__________ is the changes in an individual's behavior arising from experience.
learning
__________ 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
Toyota allows Scion buyers to customize their cars to meet their exact needs and preferences. This is an example of ____________.
micromarketing
__________ are segments of the population selected for marketing research to represent the population as a whole.
samples
Your local pizzeria promises "Delivery in 30 minutes or less or the pizza is free." What point of differentiation is this?
service differentiation
perception Is __________________
the process by which people select, organize, and interpret information to form a meaningful picture of the world
Culture is __________.
the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions
Competitive marketing intelligence is primarily responsible for _____________.
the systematic collection and analysis of publicly available information
_________ refers to the degree to which innovation appears superior to existing products.
Relative advantage
Which of the following is a social factor that influences consumer buying behavior?
Roles and status
Why is it important for a company to collect both primary and secondary data when conducting marketing research?
To have a "full picture" of the subject of its study
Firms that manufacture seasonal products target their consumers primarily through ________ segmentation.
occasion
Which kind of company would most benefit from conducting marketing research?
Both large multinationals like Disney and IBM and small locals truly need market research.
The __________ outlines researcher responsibilities to respondents, including confidentiality, privacy, and avoidance of harassment.
Code of Standards and Ethics for Survey Research
__________ is a group of people with shared value systems based on common life experiences and situations.
Subculture
According to the model of buyer behavior, what is in a buyer's black box?
The buyer's characteristics and the buyer's decision process
the first step of business buying process is __________
problem recognition
__________ is the buyer's decision about which brand to select.
purchase decision
In the adoption process, awareness is __________.
when the consumer becomes familiar with a new product but lacks information about it
________ is a descriptive thought that a person holds about something.
belief
__________ is dividing a market into different segments based on gender.
gender segmentation
Competitive marketing intelligence uses _________ data sources.
publicly available
__________ are information collected for the specific purpose at hand.
primary data
_________ refers to the practice of including ethnic themes and cross-cultural practices within a company's mainstream.
A total market strategy
Kidcomp, an American computer-manufacturing firm, targets children below the age of ten by providing free games and applications. The firm's marketing approach is reflective of ________ segmentation.
age and life cycle
Marketers must be careful to guard against stereotypes when using ________.
age and life cycle segmentation
__________ is the stage of the buyer decision process in which the consumer uses information to review different brands in the choice set.
alternative evaluation
Many companies build extensive electronic collections of consumer and market information obtained from data sources within the company's network. This is known as ___________.
an internal database
__________ are part of the buyer's black box and produce certain responses.
Buyer characteristics
Lydia's Lights wants to extend its market into Mexico. Before jumping in, the company needs to conduct some in-depth research to gauge customer's needs, interests, and buying patterns. Which of the following is the BEST option for Lydia's Lights?
Send researchers door-to-door to collect the data from target consumers.
In which type of buying situation will a buyer usually go through all the stages of the business buying process?
A new task buying situation
A __________ is a specific attribute that a company chooses about a brand and touts as "number one" in regards to that attribute.
unique selling proposition
__________ is a market-coverage strategy in which a firm goes after a large share of one or a few segments or niches.
Concentrated marketing
Which of the following statements about big data is correct?
One result of big data is that marketing managers are often overloaded and overwhelmed with information.
A power tool company wants to give its customers access to internal, non-public information about how best to use its product in creative ways. What should the company create to provide customers with this information?
A company extranet
What is MIS?
A marketing information system
A colleague needs to collect descriptive data about his customer's attitudes. He has not done this type of research before. What research approach would you recommend to best suit this research project?
A survey
Byron Tied 2 Bowties groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Byron Tied 2 Bowties creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its market?
geography
Age, personality, buying style, and job position are ________ factors that can influence the business buying decision process.
individual
__________ is a person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea.
attitude
Secondary data are __________.
information that already exists somewhere, having been collected for another purpose
A(n) __________ refers to electronic collections of customer and marketing information obtained from data sources within the company network.
internal database
__________ is tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments.
micromarketing
__________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world.
perception
A __________ is the full mix of benefits on which a brand is positioned.
value proposition
A company can differentiate itself from competitors using symbols such as McDonald's golden arches, Twitter's bird, and the Nike swoosh. Which type of differentiation is this?
Image differentiation
__________ is tailoring products and marketing programs to the needs and preferences of particular customers.
Individual marketing
An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his job?
Inform customers of the company's privacy policy.
This adopter group is skeptical and only adopts new products after a majority of people has tried it.
Late mainstream.
__________ is tailoring brands and marketing to the needs and wants of cities, neighborhoods, and even specific stores.
Local marketing
________ involves dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies.
Market segmenting
__________ is evaluating each market segment's attractiveness and selecting one or more segments to enter.
Market targeting
__________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.
Marketing research
Which of the following lists the five steps of the buyer decision process in the correct order?
Need recognition, information search, evaluation of alternatives, 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
Consumers can obtain information from any of several sources. Which source is the most effective in that they legitimize the product?
Personal sources
Which of the following needs in Maslow's hierarchy is generally satisfied first?
Physiological needs
In the adoption process, __________ is when the consumer becomes familiar with the new product but lacks information about it.
awareness
__________ are a type of buyer response.
buying attitudes and preferences
A __________ is gained by offering greater customer value, either by having lower prices or providing more benefits that justify higher prices.
competitive advantage
__________ is relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors.
social class
__________ is distinguishing a market offering from other offerings in order to create superior customer value.
Differentiation
__________ is gathering primary data by observing relevant people, actions, and situations.
Observational research
__________ is dividing a market into segments according to the moments when buyers get the idea to buy, actually make their purchase, or use the purchased item.
Occasion segmentation
__________ 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
__________ is defined by consumers on important attributes—the place the product occupies in consumers' minds relative to competing products.
Product position
__________ is gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.
Survey research
__________ is dividing a market into different age and life-cycle groups.
Age and life-cycle segmentation
Cupcakes by Cindy is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST place for this company to start to develop an efficient MIS?
Assess the information needs of the company.
What determines if a buyer is satisfied or dissatisfied with a purchase?
The relationship between the consumer's expectations and the product's perceived performance
__________ is marketing research to test hypotheses about cause-and-effect relationships.
Causal research
__________ are part of the environment that enter the consumer's black box and produce certain responses.
Economic, technological, social, and cultural stimuli
__________ is a form of observational research that involves sending trained observers to watch and interact with consumers in their "natural environments."
Ethnographic research
A competitive advantage is __________.
gained by offering greater customer value, either by having lower prices or providing more benefits that justify higher prices
In a __________ sample, the population is divided into mutually exclusive groups and random samples are drawn from each group.
stratified random
Which of the following is NOT a step in the marketing research process?
Comparing research findings to other studies
________ is the first stage of the buyer decision process, in which the consumer notices a problem.
need recognition
Items such as technical specifications, quantity, delivery time, return policies and warranties are included in the ____________.
order routine specification
__________ is dividing a market into different segments based on social class, lifestyle, or personality characteristics.
Psychographics segmentation
The website leftyslefthand.com markets products to left-handed consumers only. Which targeting strategy does this represent?
concentrated marketing
__________ is dividing a market into segments based on consumer knowledge, attitudes, uses, or response to a product.
behavioral segmentation
In a simple random sample, __________.
every member of the population has a known and equal chance of selection
In a _________, the business-to-business buyer reorders something without modifications.
straight rebuy
Income segmentation is __________.
dividing a market into different income groups
Geographic segmentation is __________.
dividing a market into different units such as nations, states, regions, counties, cities, or even neighborhoods
In the __________ stage, the consumer considers whether trying the new product makes sense.
evaluation
______________ is the first stage in the new product adoption process.
Awareness
Which of the following types of marketing involves creating opinion leaders to serve as brand ambassadors to spread the word about a company's products?
Buzz marketing
A company is conducting market research to determine the best areas to sell its product. It has already determined its research questions. What is the next step of this company's research plan?
Collect the data.
__________ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.
Competitive marketing intelligence
Which of the five characteristics identified in the text has an inverse relationship with an innovation's rate of adoption? As this characteristic increases, the rate of adoption is slower.
Complexity
Sky owns a small hot air balloon company in Albuquerque, New Mexico. He recently started a Facebook page for his company and many of his customers are asking for store-sponsored hot air balloon trips. They believe Sky's expertise would make him the perfect guide. Sky decides to host quarterly hot air balloon trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be drawn from Sky's situation?
Customer insights can provide valuable information to a small businesses.
What is the nature of demand in business markets?
Demand in business markets is derived demand.
__________ is gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses.
Experimental research
__________ is marketing research to gather preliminary information that will help define problems and suggest hypotheses.
Exploratory research
________ segmentation calls for dividing the market into different nations, regions, states, counties, cities, or even neighborhoods.
Geographic
Which of the following statements regarding the business market is correct?
Many sets of business purchases are made for one set of consumer purchases.
What is the first step of the buyer decision process?
Need recognition
Which of the following BEST describes the research relationships?
Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research.
Which of the following is a personal factor that influences a consumer's buying behavior?
Occupation
Which of the following statements about online research is correct?
Online surveys generally have higher response rates than those conducted by mail or phone.
__________ show consumer perceptions of their brands versus those of competing products on important buying dimensions.
Perceptual positioning maps
______ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
Positioning
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
Which of the following is a variable used to segment consumer buyers that is not used to segment business buyers?
Psychographics
Which of the following would be good advice for someone that is conducting marketing research in a foreign country?
Reaching respondents in other parts of the world is more difficult than it is in the U.S.
Which of the following BEST describes the purpose of the customer insights team?
To create more value for customers
Buying attitudes and preferences are __________.
a type of buyer response
One problem with business-to-business e-procurement is that it _______.
can erode long-standing customer-supplier relationships
Socially responsible target marketing would classify which of the following as an especially vulnerable target market for harmful or controversial products?
children
In a __________ sample, the population is divided into mutually exclusive groups and the researcher draws a sample of the groups to interview.
cluster
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
You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In exchange, you receive a small payment. You are participating in a(n) ________.
focus group interview
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
To develop needed information, marketing information systems utilize _________.
internal databases, marketing intelligence, and marketing research
Grocers in neighborhoods with a large Hispanic population typically carry more brands that Hispanic consumers prefer than grocers in other neighborhoods. This is an example of ________.
local marketing
_______ consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.
marketing analytics
A(n) __________ is people and processes dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights.
marketing information system
_________ is NOT a characteristic important in influencing an innovation's rate of adoption.
motivation
If competitors cannot easily copy the benefit a company chooses to promote, that benefit is said to be _________.
preemptive
Dividing buyers into groups based on social class, lifestyle, or personality characteristics is called ________ segmentation.
psychographic
The marketing manager at Arbor's Delicatessen targets customers who are working to lose weight but who still want to dine out. The restaurant chain offers a wide variety of low-fat, low-calorie meals that appeal to dieters. Arbors' approach is best referred to as ________ segmentation.
psychographic
A purse company's ads feature the members of a popular housewives reality show. Product sales increase significantly among the fans. From the fans' viewpoint, the housewives reality show is a(n) _____.
reference group
A researcher must always evaluate secondary information carefully; however, the researcher does not need to ensure the evaluation is _________.
subjective
If a segment is large enough or profitable enough to serve, it is ________.
substantial
All the people involved in the buying decision in an organization are collectively known as _______.
the buying center
need recognition is ____________
the first stage of the buyer decision process, in which the consumer notices a problem
Customer insights are __________.
the fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships
Any contact between a customer and a company is called a(n) _________.
touch point
Many marketers think that companies should aggressively promote only one benefit to the target market. The benefit promoted is known as a(n) ________.
unique selling proposition
