MKTG TEST 2
Which of the following are factors that have contributed to Brazil's economic growth in the 21st century? (Choose every correct answer.)
1. An increase in the literate population 2. Social programs that have expanded the middle class
When a firm enters into a joint venture agreement with a local firm, the two investors will then share which of the following? (Choose every correct answer.)
1. Any profit gained 2. Ownership of the firm 3. Control of business operations
Which of the following are marketing segmentation approaches? (Choose every correct answer.)
1. Benefit 2. Geographic 3. Psychographic
How does developing descriptions of each market segment help firms? (Choose every correct answer.)
1. By identifying differences across market segments 2. By identifying similarities within market segments
Which of the following are among the five stages in the marketing research process? (Choose every correct answer.)
1. Defining objectives 2. Collecting the data 3. Analyzing the data
What are the four broad categories into which marketing analytics tools and methods can be classified? (Choose every correct answer.)
1. Descriptive 2. Predictive 3. Active 4. Prescriptive
Which people will the procurement department likely consult prior to finalizing a purchase to ensure that the purchase being made is suitable for the function it will have in the company? (Choose every correct answer.)
1. Design team members 2. Employees who will use the materials
Which of the following criteria are necessary to assess a country's market? (Choose every correct answer.)
1. Economic analysis 2. Sociocultural analysis 3. Infrastructural analysis
Place the steps in the segmentation, targeting, and positioning process in their conventional order, with the first step at the top.
1. Establish strategy or objectives. 2. Use segmentation methods. 3. Evaluate segmentation attractiveness. 4. Select target market. 5. Identify and develop positioning strategy
Which of the following steps are part of the segmentation, targeting, and positioning process? (Choose every correct answer.)
1. Evaluating segment attractiveness 2. Establish strategy or objectives 3. Selecting target market
Why is global segmentation, targeting, and positioning (STP) more complicated than domestic STP? (Choose every correct answer.)
1. Foreign consumers view products and their roles as consumers differently. 2. Firms struggle to understand the cultural nuances of other countries.
Marketing analytics of big data from website traffic is useful for which of the following? (Choose every correct answer.)
1. Improving methods of converting shoppers into buyers 2. Gaining insight into which online content and products most engage website visitors 3. Identifying the most relevant keywords to use for the website
Which of the following are included in marketing research? (Check all that apply.)
1. Interpreting data 2. Collecting data 3. Analyzing data
What are the advantages of secondary research? (Choose every correct answer.)
1. It reduces the cost of data collection. 2. It saves time in data collection because it is readily available.
Place the steps of the B2B buying process in order, with the first step at the top.
1. NEED RECOGNITION 2. PRODUCT SPECIFICATION 3. RFP PROCESS 4. PROPOSAL ANALYSIS & VENDOR NEGOTIATION AND SELECTION 5. ORDER SPECIFICATION 6. VENDOR PERFORMANCE ASSESMENT USING METRICS
The three B2B buying situations are_____buys,_____________rebuys, and straight rebuys.
1. NEW 2. MODIFIED
Which of the following are examples of self-values? (Choose every correct answer.)
1. Self-fulfillment 2. Self-respect 3. Sense of belonging
Firms position products based on which of the following? (Choose every correct answer.)
1. Value 2. Salient attributes 3. Symbols
Direct investment requires a firm to maintain ___________ ownership of its facilities, offices, and plants in a foreign country.
100%
Which of the following best describes a focus group?
A small group of people put together for an intensive discussion
__________-to-___________marketing refers to the process of buying and selling goods or services to be used in producing other goods and services for consumption by the buying organization and/or for resale by wholesalers and retailers.
Business to Business, B2B
Which of the following is NOT a step in the formal business-to-business buying process?
Commercialization
Which statement regarding global segmentation, targeting, and positioning is true?
Companies must continually adjust products and marketing strategies to meet the changing needs of global markets.
_____________________ attributes are product or service features that are important to buyers and what they use to differentiate among choices.
Determinant
When marketers seek to evaluate market attractiveness, what must they do first?
Determine whether the segment is worth pursuing
A firm that is considering changing the colors used on its packaging wants to determine the effect of different color schemes on sales. To do so, the firm places three different packages in stores in three different markets. What type of research is this?
Experimental
____________ ____________analysis uses purchase transaction data to identify associations between products or combinations of products and services that occur together
Market Basket
______ analysis is a specific type of data analysis that focuses on the composition of the basket, or bundle, of products purchased during a single shopping occasion.
Market basket
______ consists of a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas.
Marketing research
In the fifth stage of the B2B buying process, ___________specification, the firm places its order with its preferred supplier(s).
ORDER
______ is a qualitative research method that entails examining purchase and consumption behavior through personal viewing or video camera scrutiny.
Observation
What is used to display, in two or more dimensions, the positions of products or brands in the consumer's mind?
Perceptual map
Which of the following is NOT a market segmentation approach?
Product
Once a firm recognizes a need, the firm will consider alternative solutions and develop a list of requirements to be given to potential vendors. What is the name for this process?
Product specification
The fourth stage of the B2B buying process has a number of mini steps within itself. Which of the following is NOT one of the steps within the fourth stage?
Product specification
In the second step of the marketing research process, what factor determines the type of data needed?
Project objectives
______ research, such as a focus group, attempts to begin to understand phenomena of interest with broad, open-ended questions.
Qualitative
______ are goals for life, not just the goals one wants to accomplish in a day. They are the overriding desires that drive how a person lives his or her life.
Self-values
What is the most common method of introducing a product or service outside of the home country?
Selling the same product or service in the home country and host country
Terence realizes that in order to fulfill customers' expectations for his florist business, he must purchase a customized delivery van. This illustrates the requirements for which stage in the B2B process?
Stage 1: Need recognition
Which of the following is a market entry strategy in which independent companies form a partnership to collaborate in the foreign market but do NOT invest in each other?
Strategic alliance
What does a trade deficit signal to economic analysts?
Strong competition from foreign producers
True or false: A global marketing mix is more complicated than a domestic marketing mix.
True
True or false: Brazil is currently in the top ten of the world's largest economies.
True
The final stage of the B2B buying process is also known as__________performance assessment using metrics.
Vendor Performance
Using metrics to evaluate a supplier of raw materials to a manufacturer is part of which stage of the B2B buying process?
Vendor performance assessment
Moriah has been assessing the cultural dimensions of a nation in Europe to see if it fits with her company's line of water sports products. She reports to the management team that she doesn't feel the market is a good fit because the culture focuses on success in business and doesn't advocate for the gratification of enjoyment. Which of Hofstede's dimensions is affecting Moriah's decision?
Which of the following statements is true with regard to growth in global markets?
A software development firm has built a program that can help businesses more efficiently target advertisements toward those who are most likely to buy. The sales team wants to introduce the product to potential clients but doesn't want to overwhelm them with a pushy sales pitch or overly technical language. To do this, they should create which of the following?
White paper
A country's infrastructure includes all of the following EXCEPT ____________.
a culture that accepts innovation
A franchise is a contractual agreement between ____________.
a firm or individual and another firm or individual
Which purchase situation best exemplifies limited problem solving?
a gallon of milk by a grocery shopper
The level of economic development, as well as differences in product and technical standards, help determine the need for and level of product ___________ in a global product strategy.
adaptation
Gross domestic product is defined as the total market value of ____________ produced by a country in a year
all goods and services
An advantage of secondary data is that, compared to primary data, they ___________.
are usually available at a lower cost
In most cases, countries use tariffs to reduce foreign competition, but tariffs are also used
as a responce to perceived unfair trade practices
Negative attitudes are typically difficult for marketers to change because
attitudes are learned and long lasting.
The third step of the market segmentation process is to evaluate segment ____________________ , which is based on such criteria as its profitability, responsiveness, and reachability.
attractiveness
When Rachel gave her presentation to the Mintok buying center team, she focused on answering Cheryl's questions, since she is the decision maker. What type of buying center does Mintok use?
autocratic
When Racquel gave her presentation to the company's buying center team, she focused on answering May's questions, since she is the decision maker. What type of buying center does the company use?
autocratic
Shailene decides to make a donation to the Autism Research Institute. Which component of Shailene's attitude toward autism research does this represent?
behavioral component
In most large organizations, several people are responsible for making a purchase decision. This group is called the
buying center
The step in the marketing research process that follows research design is ___________.
collecting the data
Zappos online shoe and clothing store has a unique way of dealing with abandoned shopping carts. If a site visitor places items into the shopping cart and then leaves the site without making a purchase, several days later Zappos sends a humorous e-mail saying, "Let us show you what your shopping cart did while you were gone," along with a photo of a cute dog intended to represent the shopping cart. This attention-getting device is designed to improve the site's
conversion rate
The analyst prepares the results to present them to a firm's ____________ as a final step in the marketing research process.
decision makers
A buying center that makes its decisions by majority vote is a(n) ______________ buying center.
democratic
Corrine has developed a successful business selling home security systems to homebuilders. She carefully monitors the issuance of new home permits to anticipate how many systems she will need to buy in order to supply her customers. Corrine is concerned with _________________ demand.
derived
Psychographics is a segmentation method that delves into how consumers actually ___________ themselves.
describe
Psychographics is the segmentation method that delves into how consumers
describe themselves
Rachel and Liam got married a year ago and are ready to move out of their apartment and into a new home. After looking at several houses, they have developed a list of features that are important to them and that are different among the homes they have visited. The features on their list are examples of
determinant attributes
A business would consider salient attributes when
determining a positioning method for a product
Global marketing strategies includes two elements: identification of the target markets and ___________
developing a competitive marketing mix
After posting an RFP for telecommunications equipment, a company received six proposals from qualified vendors. Next, the company will
evaluate the proposals and narrow the choice to a few suppliers.
Consumers consider universal, retrieval, and evoked sets during which stage of the consumer decision process?
evaluation of alternatives
Roberta is in the process of buying a new flat screen TV. There are many possible flat screens to choose from, but she is focused on a few she would actually consider buying. These make up her ________ set.
evoked
When Janelle decided to buy a new computer, she thought about all the brands she could recall seeing advertised, but when she visited her local Best Buy, she limited her search to only those brands she would consider buying. The brands available at Best Buy represent Janelle's ________ set.
evoked
Observation can be described as ___________ through personal viewing or by means of a video camera.
examining purchase and consumption behavior
Unlike a firm's mission statement or employee handbook, a firm's organizational culture often
exists as a set of unspoken guidelines
The consumer's level of involvement can lead to two types of buying decisions: ________ or ________.
extended problem solving: limited problem solving
Monica is a travel agent. Whenever she sells an expensive vacation package, she encourages the customer to buy travel insurance, which provides reimbursement in case of trip cancellation due to illness or another emergency. Monica is trying to reduce her customers' _____________ risk.
financial
Raphael hired a marketing research company to bring together a small group of consumers and get feedback on the three new advertising slogans for breakfast cereal his firm is considering. The marketing research firm would probably want to conduct a(n) ________ to provide the information Raphael requested.
focus group
What type of interview contains a small group of participants and a trained moderator that guides the conversation?
focus group
Many of the best-known American retailers, like Starbucks and McDonald's, have contractual agreements with another firm or individuals, allowing its businesses to operate overseas. These companies expanded globally using
franchising
When professional cyclists purchase clothing for riding in the Tour de France, their purchases are primarily addressing ________ needs.
functional
When professional cyclists purchase clothing for riding in the Tour de France, their purchases are primarily addressing ___________________ needs.
functional
According to office policy and procedure at William's Supply Corp., any purchase requests that are $3,000 and over must be given to Malachi, who will obtain authorization from the chief financial officer. Malachi serves as a(n) _____________ in the buying center.
gatekeeper
Laura is the sales representative for a textbook publisher. When she calls on the business faculty at State University, her first stop is to chat with Duncan, the business department chair. From Duncan, Laura learns which professors have left the university or have newly arrived. Duncan also tells Laura which professors she should see to discuss textbook choices. Duncan acts as the ________________ in the business department buying center.
gatekeeper
Grouping a market by country, region (northeast, southeast), or areas within a region is known as______________ segmentation.
geographic
Market differences across regions, states, or neighborhoods create opportunities for ___________.
geographic segmentation
A strategic alliance is a type of ____________ firms use to expand into the foreign market.
global entry strategy
Market positioning involves a process of defining the marketing mix variables so that the target customers ___________.
have a clear, distinctive understanding of the product
Last week, the bank manager took her staff to lunch and asked them to share customer comments and concerns about the bank's newly reduced hours and other new policies. The bank manager is using the lunch as an informal marketing research effort intended primarily to
help her understand the needs of her customers
Brent's manager wants him to find out the churn levels related to activities in the past 12 months and report his findings at the next meeting. What does Brent need to find out?
how many customers stopped using the company's services compared to the overall number of customers
If values provide an end goal, and self-concept is the way one sees oneself in the context of that goal, lifestyles are
how we live our lives to achieve our goals
Within a perceptual map, a(n) ________ represents where a particular market segment's desired product would lie.
ideal point
The State University IT department needs to buy additional computers for the computer lab. Mellani, manager of the lab, is asked for a recommendation, and she suggests buying Macintosh computers instead of Windows PCs. What role does Mellani play in the buying center?
influencer
As firms build databases that contain customer ___________, marketing researchers must be careful not to abuse this collection, which may contain sensitive personal details.
information
Hospitals, universities, and religious organizations are _____________ to which a B2B vendor would sell products
institutions
Gerard recognized his old, rusty car had seen its last mile. Considering the context of this situation, when he began searching for a new car to replace it, he most likely relied on both ________ sources of information.
internal and external
During the RFP stage, B2B buyers
invite suppliers to bid on supplying what is requested.
Although marketers have found that psychographics are often more useful for predicting consumer behavior than demographics, psychographic segmentation
is a more expensive method for identifying potential customers
An exchange rate quantifies how much a currency ___________.
is worth in relation to another
After need recognition and product specification, many firms using the B2B buying process______________ detailing what the firm needs to purchase.
issue a request for proposals from invited suppliers
After need recognition and product specification, many firms using the B2B buying process
issue a request for proposals from invited suppliers.
Shannon is considering using psychographics to segment the market for her small travel agency. This approach to segmentation offers her an advantage because
it is based on underlying motivations of target customers
India, like some other countries, may require entering firms to create ________ when expanding into their markets, limiting outsiders' control of businesses.
joint ventures
What is an example of secondary research?
journal articles
In most country markets, the central government tends to be the _____________ purchaser of goods and services.
largest
John wants to impress Vicky with the perfect engagement ring. He has been saving money for months, and he realizes his attitudes and perceptions about diamond rings have been changing since he began paying attention to ads for rings. Marketers call this process
learning.
Exporting is an entry strategy that requires the ___________ financial risk and allows a(n) ____________ return to the firm.
least; limited
When Connor evaluated the commercial infrastructure in Mauritius, a small island in East Africa, he considered its
legal, banking and regulatory systems
When entering their first foreign markets, firms typically take a(n) ___________ approach
less risky
Frank bought Timberland boots because he felt they were perfect for his outdoor activities. Aidan bought the same kind of boots because he liked the image they conveyed. The psychological factor driving Aidan's behavior is
lifestyle
Among the factors affecting the consumer decision-making process is the way consumers spend their time and money to live, otherwise known as
lifestyle.
Terrence, a bank employee, doesn't feel that his coworkers accept him. He decides to dress more casually, as they do, hoping to be accepted. Which level of Maslow's hierarchy of needs is Terrence trying to work on?
love
The process of dividing the market into groups of customers who have different needs, wants, or characteristics is called ___________.
market segmentation
Analyzing data that has been already collected to improve marketing decisions, optimizing marketing returns, and making appropriate customer-related decisions is the function of ___________.
marketing analytics
Information stored in the data warehouse ___________.
may be accessed by analysts from various levels of the corporation
When Target considers reordering items for its stores, its buyers are instructed to negotiate price concessions, quality improvements, and/or added options. In this situation, Target buyers are engaged in a(n) ________________ situation.
modified rebuy
When adopting strategies for entering a new market, many firms follow a(n) approach that morphs and becomes ___________ over time.
more risky
Elizabeth knows it is important to approach business buyers at the right time, often during the first stage of their buying process, which is
need recognition.
The marketing strategy a firm chooses when entering a new foreign market depends on the ___________ of the target consumers.
needs
In which buying situation is the buyer most likely to proceed through all six steps in the buying process?
new buy
The ________ situation usually involves more members of a buying center and involves more time to complete than the other buying situations.
new buy
The buying decision is likely to be most complex and take longest to complete in a(n) ______________ B2B buying situation.
new buy
When Bob took over as facilities manager for Burlington Furniture Manufacturing, he was shocked to see the factory was still heated with a coal-fired boiler. He made an immediate decision to upgrade the heating system to something more efficient and began to research available options. For Bob and Burlington Furniture, this represented a(n) _______________ situation.
new buy
When Brian took over as facilities manager for Burlington Furniture Manufacturing, he was shocked to see the factory was still heated with a coal-fired boiler. He made an immediate decision to upgrade the heating system to something more efficient and began to research available options. For Brian and Burlington Furniture, this represented a(n) ________ situation.
new buy
When Gary was hired at Eco-Supply Inc., he was required to spend the first month of employment traveling to different areas of the states to personally witness how consumers used the company's products. What form of qualitative research is Gary engaged in?
obersvation
When consumers are unable to articulate their experiences, ________ becomes particularly useful in understanding consumers' preferences.
observation
Qualtrics, SurveyMonkey, and Zoomerang are examples of
online survey software
When a firm places its orders with its preferred supplier(s), it engages in _______________
order specification
At the main campus of a large university, faculty always refer to one another as "Dr." or "Professor," dress formally, and are academically competitive. Meanwhile, at the various branch campuses, faculty members call one another by their first names, dress casually, and support one another's scholarly efforts. These differences reflect the differences in the ______________ of the main campus and its branches.
organizational culture
Although no one in the firm has discussed it, Rich notices everyone else seems to dress more casually on Fridays during the summer. Rich is observing part of his firm's
organizational culture.
Limited problem solving usually relies on
past experience more than on external information.
While on vacation, Linda's camera was stolen. Not wanting to waste vacation time shopping for a new camera, Linda simply purchased another camera just like her old one. For Linda, the ________ was low.
perceived benefit versus perceived cost of search
A ________ is often used to illustrate the position of a firm's products or brands in consumers' minds.
perceptual Map
In 2020, there were nearly 700 million adults living in India. Only about 200 million of these people earn more than the equivalent of $1,000 per year. Based on Maslow's hierarchy, most of the other 500 million Indian consumers would be primarily addressing their ______________ needs.
physiological
There are five types of risks associated with purchase decisions. Which of these risks is most associated with a situation where your new car stalls in the middle of a busy intersection?
physiological risk
Many consumers have clothes they purchased in the past that they "would not be seen in" today. When they see those clothes hanging in the backs of their closets, these consumers probably feel
post purchase cognitive dissonance
What details is(are) included in the order specification stage of the B2B buying process?
prices and delivery dates
The components of a country market assessment include all of the following EXCEPT ____________.
pricing and product decisions
After reviewing the existing data on seasonal spending by his company's customers, Michael decides he needs new information collected to address his research questions. Michael needs ________ data to address the questions in his marketing research study.
primary
In the B2B buying process, a firm will always recognize a need before engaging in the second phase of the process, ___________________.
product specification
After need recognition, a business develops ______________ that suppliers might use to develop their proposals.
product specifications
Marketing managers can choose between three possible global ___________, which range from selling the same product to introducing an entirely new product.
product strategies
LinkedIn is mainly used for _______________ in the B2B marketplace
professional networking
In the fourth stage of the B2B buying process, ___________, vendor negotiation, and selection all occur.
proposal analysis
While some segmentation methods rely on external descriptions and factors to break down the market, ___________ segmentation relies on consumers' descriptions of themselves.
psychographic
Indira has an almost-new economy car, but she wants a Ford Mustang because she thinks it would be exciting to own one. If she decides to purchase a sports car such as the Mustang, she will be primarily fulfilling a ________________ need.
psychological
Tasha has an almost-new economy car, but she wants a Ford Mustang because she thinks it would be exciting to own one. If she decides to purchase a sports car such as the Mustang, she will be primarily fulfilling a ________ need.
psychological
Based on media habits, college students can be a less ________ market segment because students' media habits are quite diverse and firms might have to use a wide variety of media to attract this segment.
reachable
Allyce is opening an upscale home decorating store in a growing suburban residential area. Allyce knows her target market is upper-income women living within 20 miles of her store. She can't afford to purchase Tapestry analysis. What would be the best way for her to determine her target area?
real estate values by subdivision
Fran is gathering information about the general economic environment in Amsterdam. In doing so, he will look for information about the general economic environment, market size and population growth rate, and
real income
Beverage firms sometimes hire attractive young people to sit at fashionable bars, sipping the company's latest product offering. The firms hope these "models" will serve as a(n) ________ and influence consumers.
reference group
In the third stage of the B2B buying process, the firm will invite alternative suppliers to bid on supplying the firm's required components. This is known as the ____________ process.
request for proposals
After defining objectives and research needs, the next step in the marketing research process involves
research design
A grocery store orders produce from Fresh Farms—a wholesaler that buys fruits and vegetables from farmers all over the Midwest. Fresh Farms is an example of a
reseller
Griffin Grocery Stores orders produce from Fresh Farms—a wholesaler that buys fruits and vegetables from farmers all over the Midwest. Fresh Farms is an example of a
reseller
Unlike manufacturers, ________ buy products from other businesses but do not significantly alter the form of the products they buy before selling them.
resellers
The last phase of the marketing research process is presenting ___________ to decision makers.
results
A home security company will advertise the need for home surveillance products to appeal to which level of Maslow's Hierarchy of Needs?
safety
Cultural nuances, subcultures, and consumers' different views of their roles in different countries can make ________ complicated.
segmentation, targeting and positioning
A successful marketing plan requires identifying and evaluating opportunities by performing an STP analysis, which stands for ____________.
segmentation, targeting, and positioning
After evaluating each market segment's attractiveness, the next step in the STP process is ___________.
selecting a target market
Rosie lives according to her own rules, unconcerned about designer labels, brand names, and luxury items. Rosie is at which level in Maslow's hierarchy of needs?
self-actualization
Another term for self-concept is ___________.
self-image
Exporting happens when a firm produces a product in its domestic plants and then ___________.
sells it in a foreign country
A firm's organizational culture reflects
set of values, traditions, and customs
Direct investment exposes a firm to ____________ risk.
significant
Individuals in different segments should have ___________ within the segment and __________ across the segments.
similarities; differences
The traditional marketing strategy of selling sunscreen to customers vacationing on the beach is an example of how __________ factors influence consumers' decisions.
situational
Kate Spade's customers tend to like the company and love its products. Kate Spade has nurtured this ________________component of its customers' attitudes.
social
Firms that are engaged in sentiment mining are analyzing data collected from
social media sites
Tomas greets his regular customers by name every morning when they come in for coffee. He offers them a taste of anything special he is cooking that day. He has a database with their birthdays and offers them free meals on their birthdays. Tomas most likely hopes that this attention to his "regulars" will encourage them to
spread positive word of mouth
Bailey uses her customer relationship management (CRM) system to predict when her business customers will need more of her company's mailing boxes. When she thinks a customer should be ready to make another order, she contacts them. Bailey is using CRM to encourage customers to engage in a(n)
straight rebuy.
In which B2B buying situation does a buyer or buying organization purchase additional product units, service subscriptions, or both as per previously purchased?
straight rebuys
Typically, B2B buyers ask potential suppliers to
submit formal proposals.
Bethany is concerned that one of the potential market segments she has identified for her dog grooming service is too small and has too little income to have sufficient buying power. Bethany is concerned with whether the segment is
substantial
_____________is a systematic method of collecting information from people
survey
If a media company wants information on consumers' television viewing habits, it can purchase reports compiled by commercial research firms such as Nielsen. This is an example of ___________ data.
syndicated
Olivia's Oil Supply has to pay a ten-cent tax on each bottle of olive oil it imports from Italy. This tax is an example of a
tarrif
What is an example of a government buyer?
the U.S. Marine Corps.
Renata is trying to determine whether the segments she is considering for her day care center will be profitable. Which of the following factors is least relevant to her analysis?
the average number of school-age siblings of children attending day care
In the Circles for a Successful Value Proposition framework, the value proposition is represented by
the intersection between customer needs/wants and the firm's products benefits
After assessing the market growth potential in Canada for his company's biking gear, Owen wanted to evaluate market competitiveness. To do this, Owen would consider
the number of competitors, entry barriers, and product substitutes
In most situations, data collection should begin only after ___________.
the research design process is finished
The consumer decision process model represents
the steps that consumers go through before, during, and after making purchases.
During the research design step of the marketing research process, researchers identify the type of data needed and
the type of research necessary to collect the data
Firms position their products based on methods such as ___________.
the value proposition, salient attributes, symbols, and competition
One disadvantage of secondary data is that ____________.
they may not be exactly what the research project requires
Geert Hofstede's cultural dimensions concept focuses on five dimensions of ________ in a country.
underlying values
In the first stage of the B2B buying process, the buying organization recognizes, through either internal or external sources, that it has a(n) ____________ need.
unfulfilled
Rasheeda is in the process of buying a new flat screen TV. There are many possible flat screens from which to choose, and she considered all of them. These make up the _________________set.
universal
A focus group interview is a(n) ___________ method of inquiry where a trained moderator leads a conversation according to a predetermined outline of the topic of interest.
unstructured
The chair of the board of the local Humane Society chose the bank where the organization keeps its money; however, the society's chief accountant is the one that interacts with the bank, making deposits, writing checks, and balancing the accounts every month. The chief accountant is the ______________ in the Humane Society's buying center.
user
Jailin is the sales representative for a campus food supply company. When he calls on the food services department at Michigan State University, he also tries to meet with several students to get their feedback on food served in the dorms. He passes this feedback to his managers to guide the development of future food preparation. The students are the _____________ in the buying center.
users
Because pharmaceutical sales representatives spend the majority of their time driving to doctors' offices, hospitals, and other medical facilities, they are given a company car. When a pharmaceutical company like Merck prepares to purchase a new fleet of cars, it will ask its sales reps for feedback about different car models and features. However, the higher levels of management will be the ones to make the final purchase decision. What buying center role(s) do the sales reps play in this buying situation?
users and influencers
Not knowing the roles of key players in the buying process could cause a sales representative to
waste tome and alienate people
Jeremiah was assigned to help create a positioning strategy for his employer's products based on product attributes. He should consider
what the target market would consider the most important features.
What is an example of an unstructured question?
"Why did you buy this product"?
When establishing its overall segmentation strategy or objectives, what must the firm keep in mind? (Choose every correct answer.)
1. Its current situation 2. Its mission and objectives
Marketing analytics makes it possible for marketers to analyze large amounts of collected data concerning customer information and purchase histories to accomplish which of the following? (Choose every correct answer.)
1. Make appropriate customer-related decisions 2. Improve marketing decision making 3. Optimize marketing returns
The majority of B2B buying situations can be described as which three of the following? (Choose every correct answer.)
1. Modified rebuys 2. Straight rebuys 3. New buys
Which of the following are the three potential global product strategies? (Choose every correct answer.)
1. Selling the same product or service in both the home and host country 2. Selling a product in the host country with minor adaptations from what is sold in the home country 3. Selling a completely new product in the host country
Which of the following are some details used to evaluate the general economic environment? (Choose every correct answer.)
1. The trade deficit or surplus 2. The GDP
Which of the following are roles within a buying center? (Choose every correct answer.)
1. User 2. Initiator 3. Decider
A typical focus group has ________ members.
8 to 12
Natalie works as a sales rep for a company that produces and sells steel used in building construction. Natalie is in ________ sales.
B2B
When you purchase a book on Amazon, you generally have two choices: buy it directly from Amazon or purchase it through Amazon but from a third-party vendor. If you go the direct route, Amazon has already purchased the book from a publisher and is holding it in an Amazon fulfillment center—the interaction between Amazon and the publisher is a ________ transaction. If you take the third-party route, Amazon acts as an agent for the supplier and takes a commission of about 10 percent of the value of the merchandise for the right to sell it on Amazon's platform—the interaction between Amazon and the supplier is a ________ transaction.
BRB: B2B
Suppose that Coca-Cola were to divide its market up into segments based on the amount of soda consumers drink (heavy, medium, and occasional soda drinkers). What type of segmentation does this represent?
Behavioral
______ segmentation forms market segments based on the way consumers use a product, such as more frequently or with greater loyalty.
Behavioral
What type of segmentation categorizes consumers on the basis of the outcomes they hope to derive from a product or service?
Benefit
Manufacturers, resellers, institutions, and governments are considered the main organizations that make up ______ to _______
Business to Business, B2B
A firm's organizational demonstrates the values, traditions, and customs that moderate its employees' behavior.
CULTURE
Which of the following statements is true with regard to growth in global markets?
Changes in technology, especially communications, have been a driving force for growth in global markets for decades.
______ are raw numbers, that on their own, have limited value to marketers.
Data
The ______________is the person who ultimately determines any part of the buying decision. (Use the exact term.)
Decider
Which role in the buying center the final determination as to which product is purchased from which supplier, if a product is purchased at all?
Decider
________ segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach.
Demographic
segmentation variables include age, income, and gender.
Demographic
_______________segmentation variables include age, income, and gender.
Demographic Segmentation
What is a major benefit of selling the exact same product or service in both the home and host countries?
Establishing strong brand recognition
Which of the following is the measure of how much one currency is worth in relation to another?
Exchange rate
______ research systematically manipulates one or more variables to determine which variables have a causal effect on another variable.
Experimental
Qualitative research relies on experiments and surveys.
False
What is a major economic factor that a firm conducting an economic analysis of a country market must take into account?
General economic environment
In the twenty-first century, goods, services, capital, people, information, and ideas often flow across international borders in a process known as_______
Globalization
What is the process by which goods, services, capital, people, information, and ideas flow across national borders?
Globalization
What is a qualitative research technique in which trained researchers ask questions to a few selected participants individually, record the answers, and then ask additional questions if needed for clarification?
In-depth Interview
A publishing company plans to outsource its production-related tasks to a BRIC country. They are assessing opportunities and are attracted to this country due to its population of young, well-educated, technically-skilled workers who are fluent in English.
India
Which statement about India's population is true?
India's workforce is highly skilled, particularly in technical fields.
Which of the following is defined as the basic facilities, services, and installations needed for a community or society to function?
Infrastructure
The student body president of WestPark University submitted a formal request to the IT department for additional computers in the main computer lab. In this situation, the student body president is the ________ in the buying center.
Inititatior
What is a characteristic of quantitative research?
It confirms insights and hypotheses generated via qualitative research.
Which of the following is NOT an advantage of secondary research?
It is the best source of unbiased data
Burt's Bees buys raw materials in order to make its earth-friendly products, such as perfumes, lip balms, and hair products. Which of the following business markets best describes Burt's Bees?
Manufacturer or producer
Some firms buy raw materials, components, and parts that allow them to make their own goods. These firms are known as __________________or producers.
Manufactures
________ involves defining the firm's marketing mix variables so that target customers have a clear, distinctive, desirable understanding of the firm's offerings relative to competitors' offerings.
Positioning
During the B2B buying process, a firm will typically invite alternative suppliers to bid on supplying the firm's required components for a product. This stage is called the_____________for proposal process.
RFP
Which of the following is an accurate definition of the term data?
Raw numbers with no intrinsic meaning
Which statement best describes secondary data?
Research that involves working with data that the researcher did not originally design or collect
______ are the entire category of marketing intermediaries that move the product further downstream in the channel without significantly altering the form.
Resellers
Suppose you work in the marketing department of a company and your boss, the marketing manager, asks you to take on a marketing research project. "But I'm not giving you any money for data collection," your boss says. "You can just use secondary data; they can meet all our needs and we can get them for free." Which of the following is the best argument against your boss's decision not to give you any funds for the research?
Secondary data may not be specific enough to meet the needs of the research.
______ is the image people ideally have of themselves.
Self-concept
True or false: The government is usually one of the largest spenders in the B2B market.
TRUE
When researchers define the objectives and needs of their project, what are they trying to establish?
The problem that needs to be solved
Which of these is not an advantage of secondary data?
They are easy to customize.
STP analysis occurs during which step of the marketing planning process?
Third
After establishing overall objectives, why do marketers then use a particular method or combination thereof to identify and describe market segments?
To help understand the profile of each segment
What is the purpose of a white paper?
To provide product or service information in an easy-to-read informational context
When firms develop a marketing mix as part of their global marketing strategy, what is their primary goal?
To sustain a competitive advantage over time
The source domains of marketing analytics methods include psychology, sociology, econometrics, and linguistics.
True
True or False: Lifestyles are a component of psychographic segmentation that describes how an individual lives his or her life to achieve goals.
True
What is one of the two levels on which cultures exist?
Underlying values, such as beliefs and thoughts
Drag and drop each of the following targeting strategies against their corresponding examples where such strategies can be employed.
Undifferentiated- A Firm produces Commodities like sugar, milk, and package ice. Differentiated- Procter & Gamble office panting, head and shoulders, Ozzie, and Wala shampoos. Concentrated- and infomercial firm sells a gadget to better fry and flat eggs and cooking. Micromarketing- A florist designs bouquets for a bride and five attendants.
How is information generally gathered in a survey?
Using a questionnaire
When Cisco Systems Inc. of San Jose, California, and Tata Consultancy Services of Mumbai, India, entered into a relationship, they both continued to develop market-ready infrastructure and network solutions for customers, but they relied on each other to provide the training and skills that one or the other might have lacked. This relationship is best described as
a strategic alliance
When Nadia realized her dog had fleas, she was faced with
an unsatisfied need.
The light beer commercial with the slogan "less filling, tastes great" was based on ________ segmentation.
benefit
The term ________ refers to the enormous amount of information that firms now have access to but cannot handle using conventional data management and data mining software.
big data
A pool company needs equipment to install swimming pool liners for an entire hotel chain. After a vendor is chosen, Abbey will handle the paperwork and send out the purchase order. Abbey plays the role of ______________ in the buying center.
buyer
Caroline is starting to wonder if she should have purchased her new cell phone because it cost so much money and she could have purchased a less expensive one. This scenario represents an especially critical time for marketers because Caroline is dealing with
buyers remorse
When a firm decided to upgrade its computer network, many people were involved in the decision. In B2B buying systems, decisions are often made
by a committee after considerable deliberation.
A firm providing software and services to information technology departments maintains a corporate blog. How can this blog help the company with B2B marketing?
by building brand awareness among potential customers
In a focus group, researchers usually videotape or audiotape the session in order to
catch any patterns of verbal or nonverbal responces
The display of candy and magazines at the grocery store checkout are impulse products the store hopes you will purchase as you wait to pay for your groceries. Impulse products like these are influenced by
choice architecture.
Though she has never owned a Jaguar, Jasmine thinks that Jaguar vehicles are poorly made and have many mechanical problems. For Jaguar to sell Jasmine a car, the company would need to change the _____________ component of Jasmine's attitude.
cognitive
Benefit segmentation is often effective because it is relatively easy to portray a product's or service's benefits in the firm's ___________ strategies.
communication
In China, state control of media is high, so companies are challenged to find ways to get their message to customers. This demonstrates one of the difficulties in crafting a global ________ strategy.
communication
Market positioning is done so that the target customers have an understanding of the product offered by the company in comparison with __________ products.
competing
When Yoga Anywhere first opened, the owner decided to target only events at resorts in its geographic region. Yoga Anywhere was using a(n) ________ targeting strategy.
concentrated
The customer whom Jemma is calling on today has a(n) _______________ buying center culture. This means that the decision process will involve reaching agreement among all members of the buying center.
consensus
A perceptual map is used in developing a positioning strategy in order to display the position of the products or brands in the ___________ mind.
consumer's
B2B marketing involves the process of buying and selling goods or services to be used in the production of other goods and services for __________ by the buying organization and/or __________ by wholesalers and retailers.
consumption; resale
Where Kalei grew up, everyone knew everyone else, no one locked their doors, and a person's word could be trusted. When she went to work in another part of the country, she was surprised by how few people had similar values and beliefs. Kalei had to adjust to ______________ differences.
cultural
A firm's organizational______________ demonstrates the values, traditions, and customs that moderate its employees' behavior.
culture
In a modified rebuy situation, ________ are likely to have an advantage in getting the order.
current vendors
In a modified rebuy situation, _______________ are likely to have an advantage in getting the order.
current vendors
When merchandise is sold, stores compile data about the purchase. Then the data is entered into a huge database known as a(n) __________
data warehouse
The second step in the marketing research project involves design. In this step, researchers identify the type of __________ needed and work out the type of ___________ necessary to collect it.
data; research
Eileen developed an extremely successful advertising and promotion campaign for a client in the United States. The client wanted to roll out the same campaign to markets worldwide, but Eileen cautioned against doing this, most likely because
differences in languages, customs, and culture might make the campaign meaningless and ineffective in some markets.
Core Publishing Company learned that when selling overseas, local fulfillment can be more cost-effective, and it also can decrease delivery time and improve customer service. These characteristics relate to a global ________ strategy.
distribution
To maximize efficiency, farmers don't send their eggs directly to a grocery store but would rely on a(n) ________ who handles sales and shipments to supermarkets.
distributor
To maximize efficiency, farmers may choose not to send their eggs directly to a grocery store, but rather sell them to a(n) ______________ who handles sales and shipments to supermarkets.
distributor
A joint venture is formed when a firm ___________ a new market and __________ its resources with those of a local firm to form a new, shared company.
enters; pools
Because research is __________, it is important to figure out beforehand exactly what problem needs to be solved
expensive and time-consuming
What global entry strategy should Bistro Bakery Supply use if it wants to have the least financial risk?
exporting
Global expansion often begins with
exporting of goods
The Tapestry™ Segmentation system divides and sorts small neighborhoods into categories using 60 or more characteristics such as income, home value, occupation, and education, as well as activity interests, such as sports, dancing, the arts, and so forth. This market research tool is an example of ________ segmentation.
geodemographic
A trade deficit means that a country ___________.
imports more goods than it exports
Patrick is conducting an online survey of two dozen college professors about the factors that influence their textbook selection. He asks questions such as, "On a scale of 1-10, with 1 being very important and 10 being least important, rate the importance of each of the following elements: price, eBook alternative, supplements." Patrick is conducting a(n)
in-depth interview
Nicholai is the director of human resources for a small film production firm. He has a strong personal interest in technology and is known throughout the firm as the one with the most knowledge about new kinds of audio equipment. If the firm decides to upgrade its audio equipment, Nicholai will probably function in what role in the firm's buying center?
influencer
The person whose views may convince others in the firm to buy or not buy a particular item is called a(n) _____________. Multiple choice question.
influencer
Which of the three stages of memory is taking place when consumers transform information that they receive about products and services into storable information?
information encoding stage
The student body president of a Nasitir University submitted a formal request to the IT department for additional computers in the main computer lab. In this situation, the student body president is the ______________ in the buying center.
initiator
Within a typical buying center, the ____________ is the person who FIRST suggests buying a particular product or service.
initiator
At many universities, education faculty members were among the first to ask for course management systems that would allow them to keep track of their students' grades and progress more efficiently. These faculty members were ______________ in the buying center.
initiators
Resellers can be thought of as ___________.
intermediaries
Compared to the B2C process, the information search and alternative evaluation steps in the B2B process are
more formal and structured.
A(n) ________ occurs when the purchasing agent orders additional units of products that have previously been purchased.
straight rebuy
A(n) ______________ occurs when the purchasing agent orders additional units of products that have previously been purchased.
straight rebuy
