Mrkt 444 chapter 5, Mrkt 444
Which of the following competitive forces is NOT addressed directly by Michael Porter?
Relative power of other stakeholders
_____ is the vendor's ability to meet contractual obligations including delivery times and service schedules.
Reliability
Zenith Homebuilders used to purchase many building lots and erect spec homes (i.e., it gambled that the demand for new houses would be so high that they would sell easily). Since the real estate slowdown, it builds homes only when owners are under contract. In this case, the company is most likely pursuing a generic business strategy of _____.
Retrentchment
Which of the following is an advantage of secondary data?
Secondary data are a fast way to get information.
Internal forces such as _____ affect consumer choices.
Age and attitude
_____ is a central tenet of marketing in which a person gives up something of value to them for something else they desireto have.
Exchange
Microsoft's revolution of the information field and Disney's creation of the modern theme park industry are the classic examples of _____.
Market creation
_____ refers to approaches that drive the market toward fulfilling a whole new set of needs that customers did not realize was possible or feasible before.
Market creations
The marketing manager for Dream Weaver Textiles reads in a trade magazine that the Federal Trade Commission is in the process of revising content labeling requirements for textiles that claim to be natural. In the context of external forces affecting marketing decisions, this represents the _____.
Political/legal environment
Mia often has desires that reflect how she would like to feel or live in the present time and this is known as a(n) _____.
Preferred state
_____ are the stages of the consumer decision-making process.
Problem recognition, search for information, evaluation of alternatives, product choice decision, post-purchase evaluation
Which of the following can impact the competitive nature of an industry through their ability to raise prices or affect the quality of inbound goods and services?
Suppliers
A _____ is the synchronized movement of goods through the channel.
Supply chain
Which of the following statements is true about business-to-business markets?
The demand for products is more inelastic and fluctuates with changes in consumer demand.
Which of the following is most likely to be considered a goal rather than an objective?
To be the leader in one's field
Which of the following is considered an objective?
To increase revenue by 15 to 20% in each of the next five years
Paul is the groundskeeper for a golf course. He not only mows the greens and fairways but is also an expert on the grass that is used and how to care for it. The golf pro and club manager consult with him about what new equipment the club needs to maintain the greens. Paul plays the role of a(n)_____ in the buying process.
User
Mary's firm has delayed making a decision on acquiring a new product line because her marketing team members took more than three months to analyze numbers. Which of the following tips for successful marketing planning experience did the firm fail to use?
Utilize input, but don't become paralyzed by information and analysis.
The Internet has made it easy for customers to get details about products online, post their opinions, and read other people's opinions. From a marketer's point of view, this has caused _____.
a shift in information power from marketers to consumers
Mega-Big Corp. has a small strategic business unit (SBU) that produces a component vital to the manufacturers of automobiles and has been extremely profitable for 18 years. The SBU acts as a key source of income for the firm. In the context of the BCG matrix, Mega-Big Corp. is most likely considered a _____.
cash cow
A restaurant's marketing manager is interested in finding out if reducing the price of food items will lead to increased sales. For this purpose, the manager should conduct _____ research.
casual
Nonverbal communications can _____ what is spoken if not used correctly.
contradict
Gatekeepers are important to the buying process because they _____.
control access to key participants in the buying center
The AMA's definition of marketing reflects the view toward marketing activities as focused on ______.
creating and delivering offerings that have value
In the United States, the obligation and commitment to family are often limited to an individual's immediate family, including his or her parents, children, and siblings. Most Latin American cultures, on the other hand, have a more wide-ranging definition of family that includes extended family members such as cousins and grandparents and also are more inclusive with extended family members living together. This is an example of differences in _____.
cultural values
One of the benefits of EDI is that _____.
customer grievances regarding late deliveries and defective products can be readdressed in atimelymanner
Which of the following is an internal source of collecting information for making marketing decisions?
customer orders
The recent controversy over the age of Chinese Olympic gymnasts because of differing ages on their passports and in government files exemplifies the difficulty with secondary data _____ in global markets.
depandability
The sole proprietor of Sam's Swings is interested in gaining a better understanding of his current customers in terms of certain demographic and lifestyle characteristics so he may better serve their needs. For this purpose, he should most appropriately conduct _____ research.
descriptive
The Clean-O company makes a cleanser for the hospital and nursing home market that is guaranteed to kill 99 percent of Staphylococcus germs, a major concern for medical facilities. Unlike other companies, Clean-O is not interested in pursuing the consumer market. In this case, Clean-O has adopted a _____.
differentiation orientation
Boris Jankowski is a salesperson for a manufacturer of equipment used in beer-making. He discovers that a regional microbrewery is going to expand into another state. It has created a buying center to purchase the needed equipment. Boris's first job is to _____.
discover who is part of the buying center
A shoe manufacturing company is interested in selling its products in a new country. Before entering the marketplace, the company wishes to gather information about how the country's citizens' set priorities and make buying decisions. For this purpose, the company is most likely to analyze the country's _____.
economic conditions
Once a sale is made and the product delivered in the B2B market, the buyer _____.
evaluates the product and supplier in a post-purchase process
Which of the following is one of the three factors a company needs to consider when creating a market information system?
information needs
The sales manager at a company collects, analyzes, and stores data from the macro environment on a continuous basis. This illustrates the concept of _____.
marketing intelligence
Alma and Tarvares see an ad for a new Sony LCD flat-panel television. Alma sees the ad as a high-quality television worth the money while Tarvares sees the ad as an overpriced television that does not warrant a premium price. What makes them see the same ad so differently?
perception
High-involvement, large purchases often lead to a level of doubt or anxiety known as _____.
post-purchase dissonance
Which of the following type of research is less structured and can employ methods such as surveys and interviews to collect the data?
qualitative
John's beliefs, attitudes, and behaviors are influenced by his friends. His friends can be identified as a(n) _____.
reference group
Fernandez Brothers Inc., provides accounting services to small businesses. Before and after tax season, the partners meet with each client company. It sends a monthly newsletter to update clients with tax changes. The firm's business practices mainly focus on keeping profitable current customers rather than gaining new customers. Fernandez Brothers has adopted a _____ approach.
relationship orientation
The most fundamental criterion in vendor selection is _____.
reliability
Appropriate and effective marketing metrics must be designed to identify, track, evaluate, and provide key benchmarks for improvement. In the context of change drivers affecting the future of marketing, this reflects the _____.
shift to justifying the relevance and payback of the marketing investment
Whole Foods Inc. is considered to be down-to-earth and wholesome by consumers. Which of the following brand personality traits are best represented by Whole Foods Inc.?
sincearity
When making product choices, Kristina chooses the products that her friend likes. This is an example of _____ affecting the actual choice decision.
social circumstances
The three main types of buying situations can be characterized as _____.
straight rebuy, modified rebuy, and new purchase
Roberta's company, New Home Builders Corp., specializes in designing one-storey homes that have wide hallways and walk-in showers that could accommodate the need to use a wheelchair or walker, and other amenities that allow couples to remain in their homes as they age. The company's strong value proposition has allowed it to maintain steady market share in a weak housing market. In the context of SWOT analysis, a discussion of this relative advantage would be included under _____.
stregnths
Maria identifies with a specific religious group, which is a smaller division of her culture. Maria's religious group is an example of a(n) ______.
subculture
A SWOT analysis of a firm is least likely to _____.
suggest solutions to problems
The marketing manager for Joe's Shoe-Mart has decided to conduct descriptive research using primary data. Based on some preliminary research of trade journals and interviews with customers, she knows what questions to ask. However, the customers she wants information from are spread out over many stores in several states. The best technique for her to collect these data would be _____.
surveys
In the context of change drivers impacting the future of marketing, marketing (little m) is also known as _____.
tactical marketing
In the buying process the "user" is characterized as _____.
the actual consumer of the product
Gatekeepers are important in the B2B buying process because _____.
they limit the number of vendors in a given buying process
Deciders are an important group for the salesperson to be able to identify because _____.
they make the ultimate purchase decision
An emerging consumer trend in many industrialized countries is the willingness to trade _____.
time for money
Which of the following statements is true about the purchase decision process?
Businesses buy not just a product; they also make a supplier choice.
Johnson & Marshall, a growing producer of organic tea, decides to create a group that is made up of people from the purchasing department, senior management with financial knowledge, and engineers with design expertise. This group best represents a(n) _____.
Buying Center
In the context of sampling plan, a comprehensive record of each individual in the population of interest is known as a _____.
Census
Reasons for conducting exploratory research include _____.
Claryfing the research problem
Since there are so many other companies that operate in the food service industry, the marketing manager of Gourmet Dining pays detailed attention to what other restaurants that offer similar meals, prices, and services are doing. In the context of external forces affecting marketing decisions, the marketing manager's focus is on _____.
Comeptition
When Anne, an architect, specifies which products, like plumbing fixtures, will be used in the building she has designed, she is playing the role of a(n) _____.
Decider
Coca-Cola's customers are its bottling plants. However, it sponsors many television ads to entice the end user to purchase the product. This is an example of stimulating _____.
Derived Demand
_____ are a set of analyses and metricsgrouped together to assess the cost of ownership.
Financial Criteria
In the context of situation analysis, which of the following is a category for analysis in the internal environment?
Firm resources
Apex Jerseys, a manufacturer of sports apparel and sports equipment, has experienced a sharp drop in sales over the last quarter. The marketing manager asks the marketing research department to investigate this alarming development. The first step taken by the researchers in their investigation should be to _____.
Formulate a specific research problem
Samantha has worked for MJS Marketing for five years and expected a promotion next month. However, the new product launch that she organized did not go as smoothly as expected. In this case, Samantha's boss should most likely be reminded of which guideline for having a successful marketing planning experience?
Give yourself and your people room to fail and try again.
Maryanne has noticed that one of the manufacturing teams has lost productivity over a six-month period. She puts together a document that describes the productivity loss and does a study to determine the cause. She finds that one of the key machines in the process breaks down often. Maryanne asks several machine manufacturers to come in to make proposals for new machines. Maryanne is playing the role of a(n)_____. influencer
Initiator
A manufacturer of food products is looking at entering several new markets in developing countries. Before it does this, the company wants to collect data on item and flavor preferences in these markets. It sends out a survey that has been accurately translated into the local language, but it still receives inconsistent results. In talking with a consulting firm, the manufacturer is informed that several of these countries have extremely high illiteracy rates and the survey answers may be only random guesses by the respondents. Which of the following problems associated with collecting primary data in global markets does this scenario exemplify?
Insufficient comprehension
Mike is the production manager in a company that makes components for the automobile industry. He has been concerned about the age of the equipment and decides to do a study to evaluate the time and money lost due to equipment failure. He decides to bring his research to the monthly board meeting. In this scenario, Mike is playing the role of a(n) _____ in the buying process.
Intiator
Biz Solutions has 12 call centers worldwide handling customer service issues for a variety of companies. The firm is considering the purchase of a software firm that serves the oil and gas industry. According to Igor Ansoff's Product-Market Matrix, this is an example of the _____ strategy.
Market diversification
Bliss Massage Therapy Center maintains a database of over 700 clients and sends each one a special discount offer in the month of his or her birthday. Managers hope that as existing customers use the discount, they will see an overall growth in sales. According to Igor Ansoff's Product-Market Matrix, this is an example of the _____ strategy.
Market penetration
_____ is defined as the methodical identification, collection, analysis, and distribution of data to discover and solve marketing problems or enhance good decision making.
Market research
_____ is the set of institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Marketing
A disadvantage of online focus groups is that _____.
Participants can become distracted and environmental factors can affect their concentration
Which of the following is NOT a key resource studied during internal analysis that involves taking a look at all aspects of a firm's functional/operational-level resources and capabilities?
Political capabilities
Automobile manufacturers must comply with regulations set by the National Transportation and Safety Board. In the context of situation analysis, which of the following macro-level external environmental factors does this exemplify?
Political, legal, and ethical
Inga, marketing manager at Sunshine, a professional preschool center, thinks the firm should start an after-school program to retain its current clients. This makes sense as she wants to extend the trusting relationship already established with parents and children. According to Igor Ansoff's Product-Market Matrix, this is an example of the _____ strategy.
Product development
The marketing managers of Brand Z Shoes have clearly defined their research problem as "If we increase our promotions expenditures, by what percentage will it increase sales?" They have also decided that they need primary data to answer this question. To collect these data, they should most appropriately use _____ research.
Quantitative
Which of the following statements is true of secondary data?
Secondary data will not fit the research problem exactly.
Which of the following are the three psychological tools the shape perception?
Selective awareness, selective distortion, selective retention
According to the 2010 U.S. Census, Asian Americans are the high-income, fast-growing racial group in America. In the context of situation analysis, under which of the following macro-level external environmental factors will this be included?Sociocultural/demographic factors
Sociocultural/demographic factors
After a recent 141-day strike, the union members in California went back to work at area grocery stores. The union negotiated raises, better health care benefits, and a one-tier pay scale. The union may best be described as a(n) _____.
Stakeholder
Tyler's event planning company hired a new marketing assistant who focuses only on long-term organizational goals and objectives ignoring the functional or operational level aspects of planning. For having a successful marketing planning experience, in which concept should the new assistant be trained?
Stay strategic, but also stay on top of the tactical.
Today many retailers create apps that customers can download to their smartphones or tablets to be up-to-date on the company's offerings. In the context of situation analysis, which of the following macro-level external environmental factors does this exemplify?
Technological factors
For successful Marketing (Big M), all internal organizational practices should be aligned around _____.
The customer
Which of the following is true of collecting data for market research in global markets?
The quantity and quality of data found in the United States are not available in most of the world.
Which of the following is true of in-depth interviews?
They are used for exploratory research.
From a customer's perspective, what is defined as a ratio of the bundle of benefits a customer receives froman offering compared to the costs incurred by the customer in acquiring that bundle of benefits?
Value
_____ represents the relationship between price and quality and it is a significant facet of the purchase decision.
Value Criteria
Which of the following are the two core marketing concepts?
Value and exchange
____ represents the relationship between price and quality and it is a significant facet of the purchase decision.
Value criteria
_____ are all marketing activities that affect the consumer decision process.
Value proposition, distribution, and marketing communications
Strategic marketing refers to _____.
a long-term, firm-level commitment to investing in marketing
A continuing process of identifying, collecting, analyzing, accumulating, and dispensing critical data to marketing decision makers is known as _____.
a market information system
The nature of business-to-business markets requires _____.
a more personal relationship between the buyer and seller
The marketing management team of Brand Z Toys is looking at the possibility of opening a new plant in one of several developing countries. Before they decide on which country they want to build in, they want to conduct some preliminary research including local population demographics and lifestyle characteristics. However, they have discovered that the governments in several of these countries do not have a department that collects these data and no independent research firm has measured any of these areas. This shows the difficulty with secondary data _____ in global markets.
acessability
Goals and objectives should be set _____.
after completion of market research, situation analysis, and competitor analysis
In the market research process, once the data are collected, coded, and verified, the next step is to _____.
analyze the information
An advantage of secondary data over primary data is that they _____.
are less expensive
Judy works at Max Pizza shop. She is a single mom and makes only minimum wages. However, by utilizing the new financial terms available, she recently purchased a BMW; this is an example of a(n) _____.
aspirational purchase
Perception drives a person's attitudes, beliefs, motivation, and, eventually, his or her _____.
behavior
The marketing manager of Low Cost Retailer wants to conduct descriptive research to gather information on what customers purchase, when they purchase, and how often they purchase certain products. For this purpose, the marketing manager should use _____.
behavioral data
A _____ is some type of utility that a company and its products provide its customers.
benefit
Sheena, marketing manager for Yaard-Vark Lawn Tractors, is interested in the relationship between the prices of lawn tractors and the level of sales. To test whether increasing prices will lead to a change in sales and how much of a change, she should use _____ research.
casual
Business-to-business demand is said to be relatively inelastic. This means that _____.
changes in demand are not significantly affected by the price
A company wants to create an association between two stimuli: marketing information and attitude. The company is using _____.
classical conditioning
While writing a customer satisfaction survey, the marketing director for Brand X Bank created a set of questions that customers would answer by circling a number between 1 and 7. The number 1 meant that the customers were very dissatisfied by that aspect of the experience, whereas 7 meant that they were very satisfied. The director is using _____ questions to collect this information.
close-ended
Although conditioning requires little effort on the part of the learner, _____ is more active and involves mental processes that acquire information to work through problems and manage life situations.
cognitive learning
When examining some secondary data from Uzbekistan, the marketing manager of RS Chemicals notices that the income figures seem high even after conversion to U.S. dollars. He later learns that the government agency that collects this information records total household income rather than per capita income as in most other countries. This shows the difficulty with secondary data _____ in global markets.
comparability
A characteristic of B2B companies is that they often make products that end up as _____ in a finished product.
components
The two fundamental approaches to learning include _____.
conditioned and cognitive learning
When baby boomers hear music that connects them with positive memories and the product and brand that is being advertised, they reflect ______.
conditioned learning
The marketing manager of Zenith Corp. is interested in ranking clients on the basis of their profitability, and accesses a database that tells him about the frequency and size of each client's order along with the actual costs per order. This database is part of the _____ system.
customer relationship management
The marketing manager for Ned's Bar and Grill notices that his typical customer is a male college student. In the context of external information sources, he is using _____ to define his market.
demographics
Lately the demand for building materials has dropped due to the slowdown in new housing construction. Wood-O Corp. is thinking of closing its fine wood division that produces mahogany and cherry lumber for building cabinets and other applications. Under the Boston Consulting Group Growth-Share Matrix, the fine wood division would most likely be classified as a _____.
dog
For successful Marketing (Big M), customer orientation must be understood by _____.
everyone in organization
Bryan gets reduced fees for his daughter's piano lessons by maintaining her teacher's website. Bryan is practicing the central tenet of marketing called _____.
exchange
For managers, the key section of the market research report that presents a synopsis of the analysis and essential findings is the _____.
executive summary
Brand X diapers, a national brand, has been declining in absolute level of sales for the last four consecutive months. The product manager asks the market research department to do a study to determine why sales have declined. The most appropriate research type would be _____.
exploratory research
Before Gabriel bought a camera, he engaged in a thorough information search reviewing magazines, soliciting opinions from friends and families, conducting online searches, and testing out different cameras in the store. This is an example of a(n) _____.
extensive information search
_____ include independent groups, personal associations, marketer-created information, and experiences.
external information sources
The best place in a SWOT analysis to list the availability of credit for a firm seeking to expand through new construction of real estate is _____.
external opportunities
The best place in a SWOT analysis for an airline to identify the possibility of acquiring a competitor is _____.
external opportunties
The best place in a SWOT analysis for a wristwatch manufacturer to identify the presence of substitute products is _____.
external threats
The best place in a SWOT analysis to identify problems with hurricanes, earthquakes, major snowfalls, and other natural phenomena is _____.
external threats
Which of the following is the best place in a SWOT analysis to list competitive trends?
external threats
Marketing managers need to pay attention to culture because _____.
failing to understanding culture has a significant negative effect on product acceptance
Graduating from college, getting married, and having a child all transform an individual's buying habits and are referred to as the _____.
family life cycle
Business-to-business markets are characterized by having _____.
fewer but larger customers
Vegan Videos has decided to conduct exploratory research to clarify its marketing-related research problem. The company needs to collect primary data using qualitative research, but it has less time to collect these data from 20 customers with only one researcher. In this case, Vegan Videos should most likely use a(n) _____ to collect the data to meet its deadline.
focus groups
Jan Smith, the marketing manager of Big Wheel Autos, has noticed that in many European countries more of the population is moving into urban centers. This has resulted in an increased demand for subcompact cars that can maneuver through these congested streets rather than full-size automobiles. In the context of external information sources, this is an example of how _____ can influence marketing management decisions.
geographic changes
When a company solicits RFPs from suppliers with an open vendor search, the goal is to _____.
get several proposals to help with negotiations
Companies that promote sustainability practices like Starbucks, which has a stringent recycling program, or General Electric, which makes environmentally sensitive products, are practicing _____.
green marketing
When a person is concerned with the outcome of a process, they will spend more time acquiring new information about product options and become more emotionally connected to the process and the decision by engaging in _____.
high-involvement learning
Once the company's needs have been identified and product specifications havebeen outlined, the next step would involve _____.
identifying and determining potential suppliers
A good market research _____.
impartial
The best place in a SWOT analysis to list a highly competent workforce is _____.
internal strengths
The marketing manager for Brand A Razors, a strong national brand, believes he knows how customers will react to a new product offering, but he conducts market research merely to provide justification for this new product. This research cannot be considered as a good market research because it _____.
is not impartial and objective
A request for proposal (RFP) _____.
is the starting point from which vendors put together their product solution
Peter Drucker, the father of modern management, believed that marketing _____________.
is the whole business as seen from the customer's point of view
_____ is any change in the content or organization of long-term memory or behavior.
learning
Health+ Nutritional Supplements is conducting an online focus group to learn more about the nutritional habits of senior citizens and the underlying causes of these behaviors. They are having problems because many of the members of their target market do not own computers. Which of the following disadvantages of online focus groups does this scenario illustrate?
limited access
Concerned by recent negative trends in economic indicators such as the consumer price index, gross domestic product, and inflation, the marketing manager of Kevin's Kayaks recommends that the company should reduce its advertising spending. His recommendation is based on _____ data.
macroeconomic
Jamal's boss wants him to travel to Canada to do some research on good locations for their retail stores, which they are planning to open in Montreal and Ottawa." The firm operates 278 stores in the United States. According to Igor Ansoff's Product-Market Matrix, the extension into a new geographic region is an example of the _____ strategy.
market development
Time Express, a well-established North American delivery service, wants to expand service into Central and South America. According toIgor Ansoff's Product-Market Matrix, this is classified as the _____ strategy.
market development
Jill is considered a(n) _____ when it comes to wine because she has information about many kinds of wines, places to shop, and other facets of the wine market.
market maven
The CEO of Big Wheel Automotive is concerned about declining sales. He has identified his research problem as the fact that his competitors are drawing away his business. He purchases access to J. D. Power's automobile rankings to learn about possible reasons for the shift in consumer purchasing. In this case, the CEO is using _____ to collect secondary data for his research problem.
market research organizations
A _____ articulates an organization's reason for existence and defines the unique purpose that sets it apart from competitors and identifies the scope of the company's operations, products, and markets.
mission statement
The primary difference between domestic and international research is that, international market data are _____.
more difficult to understand than domestic data
_____ is the force by which powerful unmet needs prompt someone to action.
motivation
Which of the following key elements of motivation is proposed by Herzberg's two-factor theory?
motivators and hygiene factors
Managers gain important information such as the beliefs/values of customers by having them check off rating scales that evaluate a product's performance on a list of attributes by using the _____.
multi attribute model
The manager of Big Brand Clothing wants to determine what items consumers are looking for this Christmas so that he can plan his orders. He decides to collect data for the purpose by stationing employees outside the store on a particular Saturday with a list of questions to ask willing shoppers to answer as they pass by. In this case, the manager is using a _____sampling method to select respondents.
non-probability
The manager of Gina's Groceries wanted to see how customers would react to some new displays. To collect this information she posted employees where they could see the display and had them record how long customers looked at it, whether they picked up the item, and if they took the item with them. In this case, she is using _____ for her market research.
observational data
The North American Industrial Classification System codes _____.
offers a great starting point for researching a particular business market
Dan is creating a survey for his company. The question he is currently working on asks his business-to-business customers to describe the ideal purchasing transaction. In the context of information content, Dan is utilizing a(n) _____ question.
open-ended
Frito-Lay is using _____ when offering free in-store samples of Doritos for the express purpose of getting people to try the product, enjoy the product, and finally purchase a bag of Doritos.
operant conditioning
_____ fulfill an important role by classifying, explaining, and then bestowing information, most often to family and friends but occasionally to a broader audience.
opinion leaders
Maria, the marketing manager of an automobile dealership, is crafting a SWOT analysis. In this case, she should list competitors that have gone bankrupt under _____.
opportunities
In marketing, _____ of a product is even more important than the realityof that product.
perception
Which of the following is a psychological attribute that affects consumer choices?
perception
_____ refers to a process utilized by people to help manage the flow of environmental stimuli.
perception
_____ is a set of unique personal qualities that produce distinctive responses across similar situations.
personality
An individual watching an ad on the Major League Baseball World Series will act differently whether watching the show at home alone or at a party with friends due to differences in _____.
physical surrounding
Victor Inc., a producer of headphones used with cell phones and MP3 players, uses contract manufacturing overseas. The firm is concerned that tariffs may be increased. Under which component of situation analysis will an examination of this issue be found?
political, legal, ethical
Brand Electronics' marketing manager would like to know about the typical consumer who purchases handheld computers. He begins by searching online and in databases for this information, but soon discovers that a product is too new for the sources to be of help. In this instance he will need _____ data to solve his research problem.
primary
The marketing director of Bank Y decides to conduct a survey of 5,000 current customers to gather information to answer the research problem of what the bank can do to improve its services and customer satisfaction. She starts with a database of 50,000 current customers and randomly picks a name on the list to start. She then selects every tenth person as she goes down the list to receive a survey. She is using a _____ sampling method to select the participants for the study.
probability
_____ sampling uses a specific set of procedures to identify individuals from the population to be included in the research.
probability
Mega-Big Corp. is interested in buying Soft works, a medical software firm. Soft works is highly regarded by medical practices for ease of use. Two software engineers started the company, but they have made risky financial and poor management decisions. Mega Corp. believes that with proper management the software firm will become an industry leader. In the context of the BCG matrix, Soft works is most likely considered a _____.
problem child
The marketing manager of a firm has hired a market research team. Together, the manager and the researchers decide that they need data from current customers and noncustomers who fit a specific demographic and lifestyle profile. In the context of research design activities, the selection of these individuals as targets for data collection represents the _____.
sampling plan
Burger Bistro recently experienced a decline in hamburger sales after salmonella was discovered during a health inspection at one of the restaurants. The marketing manager was interested in how other restaurants had dealt with similar situations. Which of the following types of data would be the most appropriate way to find answers related to this marketing problem?
secondary
A marketing manager is considering a new advertising campaign for Guzzle Beverages. She purchases six months of scanner data for Cruncheez Snack Foods, a company that recently ran a similar campaign. She wants to use this information to determine the campaign's effectiveness before implementing it for Guzzle. In this case, the marketing manager is using _____ to collect the needed information for research.
secondary data
Bella is exposed to around 2,500 messages daily. Since she cannot process, let alone retain, all those messages, she focuses on what is relevant and eliminates what is not. What psychological tool does she employ?
selective awareness
_____ refers to a tool that helps individuals focus on what is relevant and eliminate what is not.
selective awarness
Information can be misunderstood or made to fit existing beliefs, a process known as _____.
selective distortion
_____ is the process of placing in one's memory only those stimuli that support existing beliefs and attitudes about a product or brand.
selective retention
_____ tends to reinforce existing attitudes and creates a real challenge for marketers trying to overcome negative beliefs and attitudes since people are less likely to be aware of or retain information to the contrary.
selective retention
Bazooka brand of candy revamped its package inserts by changing from comic strips to quizzes and brainteasers that direct kids to digital content. In the context of change drivers impacting the future of marketing, this reflects the _____.
shift in generational values and preferences
The Girl Scouts introduced a cookie finder app in 2013. In the context of change drivers impacting the future of marketing, this reflects the _____.
shift in generational values and preferences
Today companies have no choice but to be more open about their businesses and products because they can't stop chat rooms or bloggers or customer reviews. In the context of change drivers impacting the future of marketing, this reflects the _____.
shift in information power from marketer to customer
Today customers have limitless access to facts about companies, products, competitors, other customers, and even detailed elements of marketing plans and strategies. In the context of change drivers impacting the future of marketing, this reflects the _____.
shift in information power from marketer to customer
_____ is a ranking of individuals into harmonized groups based on demographic characteristics such as age, education, income, and occupation.
social class
Mammoth Foods, a major agricultural corporation, recently purchased MJS Organic Foods Co. MJS was established six years ago and has become a major supplier to restaurants in the northeastern United States. The organic herbs, vegetables, and fruit market is expected to have a double-digit growth rate over the next decade. Under the Boston Consulting Group (BCG) Growth-Share Matrix, MJS would most likely be classified as a _____ .
star
Marketing (Big M) is also known as _____.
strategic marketing
Malala, the marketing manager of an automobile dealership, is crafting a SWOT analysis. In this case, she should include the downturn in the U.S. economy and tightening of the credit markets under _____.
threats
Open Sesame is a chain of Thai restaurants located in the western United States. The marketing manager has discovered that there is a growing demand for Spanish food. In the context of SWOT analysis, this information would be included under _____.
threats
A big industrial firm is interested in evaluating the potential purchase of a machine. In order to do this, managers should look at _____.
total costs over the life of the machine
To ensure the primary data they collected about consumer reactions to their product were accurate, the makers of Classic Toiletries hired a single research firm to visit certain cities in various countries. In the past, the company had used mail and telephone surveys by local companies in each country to gather data, but it was concerned about whom these companies were surveying and if they actually fit the demographic and lifestyle profiles of Classic's target market. Classic hired a new research firm to overcome the problem of _____ that can occur when collecting primary data in global markets.
unreliable sampling procedures
The marketing management team of Superior Foods Inc. hired a research firm to collect preference data from consumers in several former Soviet Bloc countries. However, the researchers struggled to get these data, especially from older citizens who were afraid that the information would be used against them, as it had been when they were under a Communist government. Which of the following problems associated with collecting primary data in global markets does this scenario exemplify?
unwillingness to respond
The owner of Joe's Pool Hall found some secondary data online that measured consumer reactions to certain amenities in bars and nightclubs. However, he is concerned about how these data were collected and whom it was collected from. This represents the concerns associated with the _____ of secondary data.
validity
_____ is defined as the ratio of bundled benefits received to the cost incurred by a customer to receive those benefits.
value
The marketing manager at Little Red Architects, a firm that specializes in the design of school buildings, discovered a glitch in the software that the firm uses and that some of its most recent projects will come in over budget. In the context of SWOT analysis, a discussion of this would be included under _____.
weakness
The account manager of a market research firm is conducting secondary research on consumer preferences in energy drinks for his clients. His client's drink is 100% organic, but all of the secondary data he has found contains only beverages that contain a majority of artificial ingredients. This scenario illustrates the fact that secondary data _____.
will not fit the research problem exactly
Companies are including on-premise day care centers as part of their benefit packages. In addition, private centers continue to see significant growth. In the context of lifestyle trends in the United States, which of the following does this exemplify?
women in the workforce