MKTG 300 Exam 2
The "mental conflict" or "inner tension" that a consumer may feel after purchasing a product is called?
Buyers Remorse and post purchase doubt
As discussed in class, consumer involvement and decision making are influenced by one or more of the following risks, performance, psycho-social, or economic
False
Attitudes, income, and opinions are the "AIO" variables used in consumer lifestyle research
False
The "black box" discussed in class is what consumer behaviorists call the consumer's wallet, that is, what the consumers ultimately use to purchase products.
False
marketing segmentation
Helps to identify homogenous within an overall market
which segmentation base makes use of the 80/20 principle
benefits sought
an advantage to using a perceptual map is that it
can highlight potential market positions that might be underserved
The fact that you see a Starbucks on practically every corner would indicate that Starbucks is most likely geographically segmenting based on?
customer convivence
"good" market segments should be heterogenous within each of the segments and homogenous between the segments
false
A niche target marketing strategy is often used by firms with large amount of resources
false
After the consumer decides to buy the product or service, the marketers job is basically done
false
Among marketers many roles is that of influencing consumers to perceive that they have no "want-got" gap
false
as discussed in class, "blue water sailing" referred to targeting segments that have high growth potential
false
businesses can be segmented using all the same segmentation bases/dimensions as those used in consumer segmentation
false
target marketing assumes that customers basically have the same needs
false
the process of identifying groups of consumers with similar needs is known as positioning
false
which of the following examples best describes repositioning?
in response to new regulations limiting the sale of wine over the internet in some states, a wine seller began to focus its strategy on in store consumers in those states
What is one way a company attempts to to reposition the competition rather than itself?
launch a promotional campaign that characterizes the competition in a negative light
the stages of the family life cycle are determined in part by
marital status and age
read the following statements to select the statement that is NOT true of market segmentation
market segmentation helps firms decide how to allocate their marketing resources in a way that maximizes profits
____ is the value the firm derives from consumers positive perception of its products
perceived quality
the competitive analysis tool that creates a visual picture of where products are located in consumers minds is called a____
perceptual map
The order in which Maslows Hierarchy of needs are met and achieved is _______
physiological, safety, social, esteem, and self actualization
Brands that are developed by a retailer and sold only by that specific retailer are known as ____ brands, unlike ______ brands which are managed and owned by the manufacture
private label; national
all of the following are specific drivers of specific drivers of product innovation except
product adoption
____ typically involves changing one or more marketing mix elements, often product or promotion
repositioning
Viktor ran out of laundry detergent, so he walked down to the corner store to purchase more. Even though he noticed that other brands were on sale, he bought his usual go to detergent. Viktor made a consumer purchase based on ______ problem solving.
routine
according to your text, when selection a target market, firms should consider these important factors: growth potential, levels of competition and ______
strategic fit
"Segments must be large enough for the firm to make a profit by serving them" which criterion of successful market segmentation does this statement describe?
substantial
A firm can reposition its product by either changing the perceptions of the product or the actual attributes of the product
true
Product differentiation is a positioning strategy.
true
The key distinction or difference between a business product and a consumer product is the intended use of that product
true
a products positioning is determined by the consumers perception of it
true
as discussed in class, psychographics alone are not sufficient to create good segments
true
geodemographic segmentation combines lifestyle/psychographic, demographic, and geographic segmentation processes
true
the graphical example shown in class of the wristwatch industry showed that the six segment solution offered a more tailored approach to customers then the three segment solution.
true
the maker of a new specialty product purchased general air time on a cable network that was aimed at TV viewers as a whole. This is an example of
undifferentiated targeting
please rank the following levels of brand familiarity from the lowest to highest
Brand rejection, brand non- recognition, brand recognition, brand preference, brand insistence
What is the key difference between reference groups and opinion leaders?
Reference groups are who consumers will compare themselves against, opinion leaders are who consumers will consider experts on the product.
which of the following represents the three basic strategies for target marketers?
Segmenting, differentiated, and niche marketing
Which of the following sets of characteristics is representative of a low involved purchase?
The item to be purchased is inexpensive, frequently purchased, an item of limited risk, and requires little forethought.
The progressive insurance example discussed in class showed how "flo" their spokesperson, helped raise awareness of the firm by applying the concept of the "evoked set"
True
When the risks of purchase are high, the consumer is more than likely to use formal choice rules over informal choice rules.
True
regarding positioning a product when is competitive analysis most important?
When competitors all appear to offer a similar good or service
Select the correct order of the steps in the consumer adoption process
awareness, interest, evaluation, trial, and adoption
