MKTG 350 Test 2 Review

Children often achieve ______ by observing parents and older siblings in purchase situations and then through their own purchase experiences.

Consumer Socialization

Charmin toilet paper would typically be classified as which type of product?

Convenience

Although Sergei's grandfather still prefers using a landline, he just bought his first cell phone. Alex grandfather is most likely oriented toward the past and is a member of the ____group

Laggards

The purpose of a market segmentation is to

To enable a marketer to design a marketing mix that more precisely matches the needs of customers in the selected market segments

When we speak of the number of product lines that a company offers, we are referring to the ____________ of the company's product mix.

Width

If you are shopping for s laptop or tablet to use for taking notes, research, and studying you belong to...

A consumer market

A product item is best described as

A specific version of a product

The Foreign Corrupt Practices Act of 1977 makes it illegal for U.S. firms to

Attempt to make large payments or bribes to influence policy decisions of foreign governments

Cognitive, affective, and behavioral are the three major components of

Attitude

The ____ is the difference between exports and imports.

Balance of Trade

Problem recognition occurs when a consumer

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

After purchasing a new Lexus, Brandon sees an Infinity pass by on the street and begins to wonder if he made the right choice. Brandon is experiencing:

Cognitive Dissonance

Nike manufactures athletic shoes, shorts, shirts, and a variety of other athletic products. These products make up Nike's product

Mix

Kelly's Kids is a home-based business that sells high-quality children's clothing at premium prices using in-home parties. These in-home parties typically cater to families with small children and middle- to upper-middle-class income. Kelly's Kids is using ____ variables to segment its market.

Demographic

Your firm manufactures motorcycles for the consumer market. You purchase raw materials to build the motorcycles from a variety of suppliers in the U.S. and abroad. The volume of your raw materials purchases is a function of the customer demand for your firm's motorcycles. Which of the following best describes the type of demand your firm has for these raw materials?

Derived Demand

Interior Designs Inc. sells expensive custom-made draperies, bedding, and accessories through sales representatives who are also interior designers. It also has another, slightly less expensive line that it sells through stores such as Nordstrom's and Saks Fifth Avenue. Interior Designs Inc. is most likely using a(n) ____ targeting strategy.

Differentiated

A group of brands that a consumer views as alternatives for possible purchase is called a(n)

Evoked Set

The extent of Jaimie's participation in global business is selling the batteries it manufactures to companies in Spain. In this case, Jaimie is a(n)

Exporter

Suhail is shopping for a new suit to wear to an important interview. He really wants to impress his prospective employer and is shopping at many stores to find the right outfit. Suhail is using which type of consumer decision-making process?

Extended decision making

All of the following are marketer-dominated sources of information except

Friends

Chrysler is producing a new seven-passenger van with all-wheel drive. Which of the following would be the best variables for segmenting the market for this new model?

Geographic location and family life cycle

A culture can be divided into subcultures according to

Geographic regions or human characteristics, such as age or ethnic background.

When a product experiences an increase in the number of competitors, it is usually in the _____ stage of the product life cycle; however, when that competition becomes intense, it is in the ____ stage.

Growth, Maturity

The consumer decision process model represents

The steps that consumers go through before, during, and after making purchase

Which of the following is often used to raise revenue for a country and/or to protect domestic products?

Import Tariff

_________ involves developing and performing marketing activities across national boundaries

International Marketing

The producers of Schick razor blades use a marketing strategy that includes large advertising expenditures and more price flexibility for the various types of blades offered. Based on this example, razor blades are in the ___________ stage of the product life cycle.

Maturity

Anderson Distribution Company has purchased 15 forklifts over the past two years. As it plans to place its next order for another five machines, management wonders if additional features may be needed in order to handle changes in the product lines it carries. For Anderson, these new forklifts represent a ____ purchase.

Modified Rebuy

During the introduction stage of a successful product, profits are usually:

Negative and increasing

Business markets are typically divided into four categories. These categories are

Producer, reseller, government, and institutional.

If Germany, in an attempt to bolster the sales of its own auto manufacturers, decided to limit the number of automobiles that could be brought in from other countries, Germany would be using a(n)

Quota

Quality Tools, Inc., purchases air hammers, wrenches, and other hardware items from a variety of manufacturers and sells them to hardware stores at a price that includes a profit for Quality Tools, Inc. The company would be part of what type of business market?

Reseller

Forever 21 clothing stores sell primarily what type of products?

Shopping

Samantha needed to buy an airline ticket to visit her parents. She went to several websites to compare rates and chose a flight on Spirit Airlines because, for a similar price to other airlines, it had a better reputation for service. For Samantha, this flight is an example of which type of product?

Shopping

Volkswagen purchases upholstery for the interiors of its vehicles from various suppliers. This upholstery must have a set of characteristics that is expressed by Volkswagen. This set is called

Specifications

Which of the following buying situations is most consistent with routinized response behavior?

Stephanie buying bottled water