MKTG EXAM 2

Which of the following are​ tradition-bound, suspicious of​ changes, and adopt the innovation only when it has become something of a tradition​ itself? A. Innovators B. Late mainstream C. Lagging adopters D. Early mainstream E. Early adopters

Lagging adopters

The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in this​ process? A. General need description B. Supplier search C. Proposal solicitation D. Supplier selection E. Problem recognition

Problem recognition

Consumers go through five stages in the process of adopting a new product. In the​ ________ stage, the consumer considers whether trying the new product makes sense. A. adoption B. trial C. evaluation D. interest E. awareness

evaluation

You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In​ exchange, you receive a payment. You are participating in​ a(n) ________. A. experiment B. immersion group C. ethnographic study D. focus group E. individual interview

focus group

When marketers want to promote their products and services through​ word-of-mouth marketing​ programs, they typically begin by​ ________. A. developing print and radio advertisements B. generating​ person-to-person brand conversations C. pushing​ one-way commercials at customers D. identifying and targeting late adopters E. withdrawing from online social networks

generating​ person-to-person brand conversations

The type of segmentation that forms segments of consumers who have similar needs and buying behaviors even though they are located in different countries is known as​ _________. A. geographic segmentation B. behavioral segmentation C. intermarket segmentation D. demographic segmentation E. lifestyle segmentation

intermarket segmentation

Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as​ __________. A. mass marketing B. market segmenting C. market targeting D. differentiation E. positioning

market segmenting

Firms that manufacture seasonal products target their consumers primarily through​ ________ segmentation. A. occasion B. psychographic C. income D. age and​ life-cycle E. demographic

occasion

Marketers of brands understand that they must figure out how to reach​ ____________ that can exert social influence on others. A. opinion leaders B. millennials C. cultural segments D. social groups E. baby boomers

opinion leaders

If competitors cannot easily copy the benefit a company chooses to​ promote, that benefit is said to be​ _________. A. superior B. affordable C. distinctive D. profitable E. preemptive

preemptive

H2Coast, an automobile​ manufacturer, produces​ fuel-efficient hybrid vehicles that are targeted toward​ high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on​ ________ variables. A. universal B. demographic C. geographic D. psychographic E. behavioral

psychographic

The buyer makes the fewest decisions in the​ ________ and the most in the​ ________ decision. A. straight​ rebuy; modified rebuy B. new​ task; straight rebuy C. modified​ rebuy; straight rebuy D. modified​ rebuy; new task E. straight​ rebuy; new task

straight​ rebuy; new task

The customer journey concept​ ________. A. is a narrow and reductive interpretation of how consumers engage with brands B. views the buying process only as a specific set of stages C. has fallen out of favor in recent years D. takes a holistic view of all the experiences a consumer has with a brand E. charts the specific steps a customer engages in to make an online purchase

takes a holistic view of all the experiences a consumer has with a brand

Which stage of the product life cycle is characterized by negative profits and high costs per​ customer? A. Growth B. Decline C. Product development D. Maturity E. Introduction

Introduction

User​ status, usage​ rate, and loyalty status are examples of which type of segmentation​ variable? A. Economic segmentation B. Behavioral segmentation C. Geographic segmentation D. Demographic segmentation E. Psychographic segmentation

Behavioral segmentation

________ is the step of the new product development process during which a review of the​ sales, costs, and profit projections for a new product is conducted to determine whether the new product is likely to satisfy the​ company's objectives. A. Marketing strategy development B. Test marketing C. Business analysis D. Product development E. Concept development and testing

Business analysis

Which type of sample involves dividing the population into mutually exclusive groups​ (such as​ blocks), and then drawing a sample of the groups to​ interview? A. Convenience sample B. Stratified random sample C. Quota sample D. Cluster​ (area) sample E. Simple random sample

Cluster​ (area) sample

Consumers obtain information from numerous sources. Which of the following involves dealer and manufacturer​ websites, packaging, and​ displays? A. Commercial sources B. Public sources C. The internet D. Media sources E. Personal sources

Commercial sources

Which of the following refers to the degree to which an innovation fits the values and experiences of potential​ consumers? A. Relative advantage B. Divisibility C. Complexity D. Communicability E. Compatibility

Compatibility

What is the first step of the marketing research​ process? A. Defining the research problem B. Comparing research findings to other studies C. Implementing the research plan D. Interpreting and reporting the findings E. Developing the research plan

Defining the research problem

​________ demand is the term used for business demand that ultimately comes from the demand for consumer goods. Question content area bottom Part 1 A. Elastic B. Derived C. Inelastic D. Fluctuating E. Structural

Derived

Which adopter group is first to adopt a new​ product? A. Early adopters B. Innovators C. Late mainstream adopters D. Lagging adopters E. Early mainstream adopters

Innovators

Technological, political, and competitive influences are categorized as which type of major influence on business buyer​ behavior? A. Organizational B. Environmental C. Interpersonal D. Procedural E. Individual

Environmental

________ involves sending trained observers to watch and interact with consumers in their​ "natural environments." A. Social targeting B. A focus group C. Telephone interviewing D. Behavioral targeting E. Ethnographic research

Ethnographic research

Through its mobile Whopper Detour​ promotion, Burger King offered discounted Whoppers to people close to a competing​ McDonald's restaurant. This is an example of which of the​ following? A. ​Gender-neutral marketing B. Occasion marketing C. Demographic segmentation D. User status segmentation E. Hyperlocal social marketing

Hyperlocal social marketing

In which stage of the new product development process would a company use a​ hackathon? A. Commercialization B. Product development C. Idea screening D. Idea generation E. Marketing strategy development

Idea generation

Which of the following is NOT one of the typical advantages of​ e-procurement systems? A. Allowing buyers to focus on more strategic issues B. Reducing time between order and delivery C. Finding better supplier resources D. Improving​ customer-supplier relationships E. Eliminating paperwork

Improving​ customer-supplier relationships

Which of the following statements about new product development strategy is​ correct? A. Innovation can be very expensive and very risky. B. Good advertising creates successful new products. C. New products are not a major source of growth for companies. D. A new product will succeed as long as it is priced correctly. E. New products are usually successful because consumers like new things.

Innovation can be very expensive and very risky.

​_________ 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. A. Touch points B. Marketing information C. Big data D. Marketing analytics E. CRM

Marketing analytics

Which value proposition offers not only higher​ quality, but also confers prestige upon the​ buyer? A. Less for much less B. More for less C. More for more D. More for the same E. The same for less

More for more

What is the first step of the buyer decision​ process? A. Purchase decision B. Alternative evaluation C. ​Post-purchase behavior D. Information search E. Need recognition

Need recognition

Which of the following statements about big data is​ correct? A. Big data is only used by big companies. B. Big data actually refers to very small data sets. C. Analyzing big data always leads to useful customer insights. D. Analyzing big data is a very easy task. E. One result of big data is that marketing managers are often overloaded and overwhelmed with information.

One result of big data is that marketing managers are often overloaded and overwhelmed with information.

Which of the following statements about online research is​ correct? A. Experiments cannot be conducted online. B. Online research is only feasible for large companies. C. Online surveys generally have higher response rates than those conducted by mail or phone. D. Focus groups are rarely conducted online. E. It is more expensive to conduct online research than to do a​ mail, phone, or personal interview.

Online surveys generally have higher response rates than those conducted by mail or phone.

Which of the following statements is true regarding standardizing products for international​ markets? A. Standardization increases product​ design, manufacturing, and marketing costs. B. Markets and consumers all over the world are​ alike, so a company should always standardize international products. C. Standardization helps a company develop a different image in different countries. D. Standardization ensures that products will succeed in foreign markets. E. Standardization decreases product​ design, manufacturing, and marketing costs.

Standardization decreases product​ design, manufacturing, and marketing costs.

​_________ is one problem with​ business-to-business e-procurement. A. Increased paperwork requirements B. Reduced purchasing efficiency C. Increased transaction costs D. Increased time between order and delivery E. Suppliers being pitted against one another

Suppliers being pitted against one another

Which of the following statements regarding socially responsible product decisions is​ correct? A. Safety legislation has been passed to regulate chemical​ substances, drugs, and​ poisons, but not​ toys, automobiles, or fabrics. B. Companies can safely ignore patent laws. C. When companies drop​ products, they do not have any obligations to​ suppliers, dealers, and customers. D. The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition. E. Manufacturers are generally not concerned with product liability.

The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition.

Which of the following statements is true regarding product life cycle​ curves? A. Marketing strategies do not change for different life cycle stages. B. Managing products through their life cycle is an easy task. C. Once a product reaches the decline​ stage, it cannot be recycled back to growth. D. The sales of a typical product follow an​ S-shaped curve made up of five stages. E. All products follow the traditional​ five-stage PLC model.

The sales of a typical product follow an​ S-shaped curve made up of five stages.

According to the model of buyer​ behavior, what is in a​ buyer's "black​ box"? A. The​ buyer's attitudes and preferences B. The​ buyer's wants,​ needs, and preferences C. The​ buyer's purchase and​ post-purchase behavior D. The​ buyer's economic and social preferences E. The​ buyer's characteristics and decision process

The​ buyer's characteristics and decision process

According to​ Maslow's hierarchy, which of the following needs would a person seek to satisfy​ first? A. Status B. Thirst C. Recognition D. Protection E. Love

Thirst

Which of the following BEST describes the purpose of customer​ insights? A. To develop new markets of customers for the company B. To instruct other company departments in customer service C. To advertise new products to customer bases D. To represent the company to its customers E. To create more value for customers

To create more value for customers

Which of the following is the primary reason firms use competitive marketing​ intelligence? A. To gain an understanding of a​ competitor's channels of distribution B. To understand more about a​ competitor's new product development efforts C. To make early decisions regarding pricing strategies of competitors D. To assess and respond to a​ competitor's social media strategies E. To gain early insights into competitor moves and​ strategies, and to prepare quick responses

To gain early insights into competitor moves and​ strategies, and to prepare quick responses

A company can obtain new products by buying a whole​ company, a​ patent, or a license to produce someone​ else's product through​ _________. Question content area bottom Part 1 A. product enhancements B. new product brands C. acquisition D. new product development E. product improvements

acquisition

Using online consumer tracking data and analytics to target advertisements and marketing offers to specific consumers is known as​ ________. A. sampling B. segmentation C. behavioral targeting D. social targeting E. neuromarketing

behavioral targeting

Primary data​ ________. A. have been collected for another purpose B. must be evaluated as to​ accuracy, currency, and impartiality C. consist of information collected for the specific purpose at hand D. is usually the first type of data researchers start gathering E. already exist somewhere

consist of information collected for the specific purpose at hand

All the individuals and households that buy or acquire goods and services for personal consumption are known as the​ ________ market. A. subcultural B. ​B-to-B C. consumer D. derived E. business

consumer

Goldtone is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of​ short-listed ideas will be adequately rewarded. In this​ case, Goldtone is using​ ________ to generate new product ideas. A. test marketing B. marketing strategy development C. concept development D. crowdsourcing E. business analysis

crowdsourcing

Social class is a type of​ ________ characteristic that influences consumer buying behavior. A. psychological B. social C. ethnic D. cultural E. personal

cultural

The real value of marketing information rests in the​ _________. A. marketing intelligence it uncovers B. customer insights it provides C. amount of big data it analyzes D. social media data it uses E. support of a​ company's marketing research

customer insights it provides

Which of the following is NOT a psychological factor influencing consumer buying​ behavior? A. Beliefs and attitudes B. ​Self-concept C. Perception D. Motivation E. Learning

Self-concept

Amazon is now promising​ same-day pick-up of goods as well as local secure​ pick-up points. What point of differentiation is​ this? A. People differentiation B. Services differentiation C. Image differentiation D. Product differentiation E. Channel differentiation

Services differentiation

​___________ consists of many different people who play multiple roles in the buying process. A. The buying nucleus B. The purchasing team C. The buying center D. Buying agents E. Buying actors

The buying center

__________ determines if a buyer is satisfied or dissatisfied with a purchase. A. The number of alternatives considered in the purchase decision B. Whether or not the buyer experiences cognitive dissonance C. The amount of information gathered in the​ decision-making process D. The relationship between the​ consumer's expectations and the​ product's perceived performance E. How others feel about the purchase

The relationship between the​ consumer's expectations and the​ product's perceived performance

Which of the following statements is correct concerning service marketers going​ global? A. The growth of global service companies is expected to decline in the near future. B. Due to the nature of their​ business, professional service firms cannot expand their business to foreign markets. C. Compared with product​ marketers, service marketers do not face any additional challenges when going global. D. The trend toward growth of global service companies is expected to continue in the near future. E. One industry that still has not globalized is retailing.

The trend toward growth of global service companies is expected to continue in the near future.

Which of the following correctly describes customer​ purchases, sales force​ contacts, service and support​ calls, web and social media site​ visits, satisfaction​ surveys, credit and payment​ interactions, and market research​ studies? A. Purchases B. Sales calls C. Satisfaction surveys D. Service calls E. Touch points

Touch points

When a company engages in​ ________marketing it ignores market segment differences and targets the whole market with one offer. A. concentrated B. mass C. differentiated D. segmented E. niche

mass

The type of segment characteristic in which the​ size, purchasing​ power, and profiles of the segments can be quantified is known as​ __________. A. accessible B. actionable C. measurable D. substantial E. differentiable

measurable

A purse​ company's ads feature the members of a popular reality show about housewives. Product sales increase significantly among fans. From​ fans' viewpoint, the reality show is a​ ________. A. family group B. reference group C. membership group D. lagging adopter E. ​late-majority adopter

reference group

To create successful new​ products, a company must​ _______. A. cut costs to keep the price of new products low while delivering acceptable quality B. obtain successful products through acquisitions instead of doing internal development C. understand its​ consumers, markets, and competitors and develop products that deliver superior value to customers D. focus its new product development efforts only on consumers and deliver value E. spend more on research and development​ (R&D) than its competitors and understand its consumers

understand its​ consumers, markets, and competitors and develop products that deliver superior value to customers

Intuit​ Labs, a division of​ Intuit, the accounting and payroll software​ developer, follows a​ "Design for Delight​ (D4D)" development​ philosophy, which states that products should delight customers by providing experiences that exceed expectations. Which new product development approach is Intuit​ using? A. Marketing strategy development B. Crowdsourcing C. Systematic new product development D. ​Team-based new product development E. ​Customer-centered new product development

​Customer-centered new product development

In 2015 Target eliminated its​ "pink" and​ "blue" aisles, and it now sells lines such as a collection of​ back-to-school clothing,​ accessories, backpacks, and bedding that appeals to both boys and girls. This is an example of which type of​ marketing? A. ​Gender-neutral B. Hyperlocal C. Lifestyle D. Income E. Age and​ life-cycle

​Gender-neutral

Which type of research seeks to define and characterize​ things, such as the market potential for a product or the demographics and attitudes of consumers who buy the​ product? A. Primary research B. Exploratory research C. Causal research D. Secondary research E. Descriptive research

Descriptive research

Which type of​ market-coverage strategy involves targeting several market segments and designing separate offers for​ each? A. Differentiated marketing B. Undifferentiated marketing C. Micromarketing D. Concentrated marketing E. Niche marketing

Differentiated marketing

​__________ is a characteristic important in influencing an​ innovation's rate of adoption and described by the degree to which the innovation may be tried on a limited basis. A. Relative advantage B. Complexity C. Communicability D. Motivation E. Divisibility

Divisibility