Mktg 301 Exam 2

Aspirational groups
are groups to which an individual wishes to belong, as when a young basketball player hopes to play someday for the Los Angeles Lakers.
Family is one of the ________ factors that influence consumer behavior
A buyer’s decisions are influenced by ________ such as the buyer’s age and life-cycle stage, occupation, economic situation, lifestyle, personality, and self-concept.
personal characteristics
________ refers to the unique psychological characteristics that distinguish an individual or group
Shoez Inc., a manufacturer of shoes, has recently launched a brand of sturdy shoes ideal for hiking and other outdoor activities. Which of the following brand personalities could be best associated with the new brand?
________ are ambassadors who share their passion for a company’s products with large circles of friends and acquaintances in return for insider knowledge and other rewards.
Brand evangelists
________ means that consumers are likely to remember good points made about a brand they favor and forget good points made about competing brands.
Selective retention
________ is the most basic determinant of a person’s wants and behavior.
Which of the following statements is true of cultural factors that influence consumer behavior?
Social classes show distinct product and brand preferences in areas such as clothing and travel.
Which of the following is a marketing stimuli?
price stimuli
Many companies use several ethnically specific themes in their mainstream marketing strategy. This is because several marketers have realized that insights gleaned from ethnic consumers can influence their broader markets. This type of marketing is known as ________.
cross-cultural marketing
________ describes changes in an individual’s behavior arising from experience.
In the context of the AIO dimensions for measuring consumers’ lifestyles, “A” stands for ________
Opinion leaders are also referred to as ________
________ are society’s relatively permanent and ordered divisions whose members share similar values, interests, and behaviors
Social classes
________ is a person’s pattern of living as expressed in his/her psychographics, and it includes the individual’s activities, interests, and opinions.
Consumer information provider PersonicX uses a life-stage segmentation system that places U.S. households into one of 21 different life-stage groups. According to PersonicX’s groups, which of the following refers to the group consisting of young, energetic, well-funded couples and young families who are busy with their careers, social lives, and active recreation?
Taking Hold
Facebook and Second Life are both examples of ________.
social networks
Each culture contains smaller ________, or groups of people with shared value systems based on common life experiences and situations
Which of the following statements is true regarding social classes in the United States?
Social classes show distinct product preferences in clothing and automobiles.
Which of the following terms refers to a specific mix of human traits that may be attributed to a particular brand?
brand personality
Which of the following best describes divisibility of an innovation that influences the rate of adoption?
It is the degree to which the innovation may be tried on a limited basis.
What is the most important consumer buying organization in society?
Maslow’s theory is that ________ can be arranged in a hierarchy
human needs
Marketing stimuli consist of the four Ps. Which of the following is NOT one of these?
________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world
Which of the following product characteristics refers to the degree to which the innovation appears superior to existing products?
relative advantage
________ refers to qualitative research designed to probe consumers’ hidden, subconscious motivations.
Motivation research
Which of the following is characteristic of online social networks?
user-controlled content
A person’s buying choices are influenced by four major psychological factors. Which of the following is NOT one of these factors?
In the model of buyer behavior, which of the following is NOT a major type of force or event in the buyer’s environment?
A ________ is a need that is sufficiently pressing to direct a person to seek satisfaction.
Companies that use brand ambassadors are most likely involved in ________ marketing.
Which of the following is NOT part of Maslow’s hierarchy of needs?
spiritual needs
A ________ consists of the activities an individual is expected to perform according to the people around him/her.
All the individuals and households that buy or acquire goods and services for personal consumption make up the ________.
consumer market
People cannot focus on all of the stimuli that surround them each day. A person’s tendency to screen out most of the information to which he is exposed is called ________.
selective attention
Many marketers use the self-concept premise that people’s possessions contribute to and reflect their identities—that is, “we are what we consume.” According to this premise, consumers ________.
buy products to support their self-images
According to Freud, a person’s buying decisions are primarily affected by ________
According to the model of buyer behavior, which of the following is one of the two primary parts of a “buyer’s black box”?
buyer’s decision process
Which consumer group tends to show more brand loyalty and make shopping a family event, with children having a big say in the purchase decision?
Hispanic Americans
________ consumers are the most affluent U.S. demographic segment and are expected to have an annual buying power approaching $775 billion by 2015
Asian American
Which of the following is one of the other stimuli present in a buyer’s environment apart from a marketing stimuli?
cultural stimuli
________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others.
Opinion leaders
Which of the following statements is true of social classes?
People within a social class tend to exhibit similar buying behavior.
A marketing research company asked members of a focus group to describe several brands as animals. This is an example of ________.
interpretive consumer research
A marketer wanting to determine business buyer behavior is most likely to ask which of the following questions?
What are the major influences on buyers?
Which of the following is true about business purchases?
Business purchases involve more professional purchasing effort than consumer purchases.
Business demand that ultimately comes from the demand for consumer goods is known as ________ demand
Business markets are similar to consumer markets in that ________.
both involve people who assume buying roles and make purchase decisions to satisfy needs
The owners of a manufacturing firm in Ohio have developed a core network of suppliers to ensure an uninterrupted supply of products. This is an example of ________.
supplier development
The Pure Drug Company produces insulin, a product with a very stable demand. Even though the price changed several times in the past two years, the demand for Pure Drug’s insulin remained relatively unaffected. In this instance, the demand for insulin is representative of ________ demand.
________ refer to members of the buying organization who will actually use the purchased product or service
________ refer to people in an organization’s buying center who affect the buying decision; they often help define specifications and provide information for evaluating alternatives.
Sigma Inc., a software firm based in California, reordered 50 printers from the designated provider without any modifications. This is an example of ________.
a straight rebuy
Which of the following is an environmental factor that influences business buyers?
supply of key materials
________ involves systematically developing networks of supplier-partners to ensure a dependable supply of products and materials for use in making products or reselling them to others.
Supplier development
_______ refers to buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation.
Systems selling
The ________ refers to all the individuals and units that play a role in the purchase decision-making process
buying center
The decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands is known as ________.
business buying process
In business markets with inelastic demand ________.
the total demand for products is not much affected by short-term price changes
Solutions selling ________
is often a key business marketing strategy for winning and holding accounts
________ calls for dividing the market into regions, states, counties, cities, or even neighborhoods
Geographic segmentation
Consumers who show their allegiance to brands, stores, or companies help marketers to segment consumers by their ________.
degree of loyalty
________ positioning involves meeting consumers’ lower performance or quality requirements at a much lower price.
Less for much less
________ marketing is more suited for uniform products, such as grapefruit or steel.
While Jenkins Stationeries was selling branded stationery at premium prices, Pembroke Stationeries, a store across the street, was selling the same branded stationery at discount prices. Which of the following value propositions best describes Pembroke’s product positioning?
same for less
________ shows consumer perceptions of a company’s brands versus competing products on important buying dimensions.
Perceptual positioning maps
Ferrari sports cars claim superior quality, performance, and style. Ferrari provides “perfection” at a premium price to keep its brand image intact. Which type of value proposition does Ferrari most likely position its products with?
more for more
________ refers to how a company will create differentiated value for targeted segments and what positions it wants to occupy in those segments.
Value proposition
A catalog retailer in the United States has identified African American professionals between the ages of 35 and 45 as a group of potential customers for its products. The retailer plans to direct its marketing efforts toward this group of consumers. Which of the following market segmentation variables was most likely used by the catalog retailer?
________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.
Market segmentation
Stores such as Walmart, Best Buy, PetSmart, David’s Bridal, and DSW Shoes use ________ positioning.
same for less
________ is more suited for products that vary in design.
Differentiated marketing
________ involves actually distinguishing the firm’s market offering to create superior customer value
To the extent that a company can differentiate and position itself as providing superior customer value, it gains ________
competitive advantage
________ consists of evaluating each market segment’s attractiveness and selecting one or more market segments to enter
Market targeting
Harvey’s Bookstore is a popular online bookstore that has differentiated itself through smooth-functioning delivery networks. This is an example of ________.
channel differentiation
Apex describes its clothing line as, “Elegance and attitude, now as one. For the daily office-goer, who takes pride in what he or she wears everyday, Apex makes sure you get noticed.” This exemplifies a ________.
positioning statement
In the context of behavioral segmentation, markets segmented by ________ can be categorized into light, medium, and heavy product users.
usage rate
Kinger Auto specializes in selling low-quality used vehicles that are priced a good deal lower than other used cars. Which of the following value propositions is evident here?
less for much less
“To busy multitaskers who need help remembering things, Evernote is a digital content management application that makes it easy to capture and remember moments and ideas from your everyday life using your computer, phone, tablet, and the Web.” This is an example of a(n) ________.
positioning statement
Through ________ differentiation, brands can be differentiated on features, performance, or style and design.
Perry’s Mart, a grocery store in New Orleans, Louisiana, offers less merchandise selection and fairly low levels of service. Despite the lackluster service and limited selection of merchandise, customers still flock to Perry’s because it charges rock-bottom prices. Perry’s Mart most likely uses the ________ positioning.
less for much less
The Jay Group hires better employees than its competition by conducting effective searches and multi-tiered interviews. The company also provides high quality training to its employees, an aspect often neglected by competitors. The Jay Group is most likely to gain a strong competitive advantage through which type of differentiation?
people differentiation
________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.
Which of the following is true with regard to the same for less value proposition?
Offering the same for less can be a powerful value proposition because everyone likes a good deal.
A company selling child care products ran a television ad depicting women as being primarily responsible for child care. Many women viewers considered this regressive alleging that the ad failed to recognize the much more diversified role of women in today’s world. This is an example of ________.
________ segmentation has long been used in clothing, cosmetics, toiletries, and magazines
Symbols such as the McDonald’s golden arches, the colorful Google logo, the Nike swoosh, or Apple’s “bite mark” logo provide strong company or brand recognition and are indicative of ________ differentiation.
Chronos Inc. designs and markets different brands of cycling watches. Each brand has a single unique feature: the Chronos Cosmos has a heart rate monitor, the Chronos Acumen is designed for older cyclists who prefer a large display, and the Chronos Aegis has a GPS function. Which of the following is evident here?
product differentiation
The winning value proposition would be to offer ________.
more for less
A ________ refers to the way a product is defined by consumers on important attributes—the place the product occupies in consumers’ minds relative to competing products.
product position
Which of the following states the product’s membership in a category and then shows its point of difference from other members of the category?
positioning statement
Which of the following marketing strategies is most suitable for smaller firms with limited resources?
niche marketing
The full mix of benefits on which a brand is differentiated and positioned is known as the brand’s ________.
value proposition
Even when competing offers look the same, buyers may perceive a difference based on ________ differentiation.
When it first opened stores across the United States, Bateman’s, an office supply chain store, had the best product selection, the best service, and the lowest prices compared to other office supply chain stores. As a result, Bateman’s captured a significant chunk of the market in the short run. Which of the following positioning strategies did Bateman’s most likely use?
more for less
Which of the following major decisions should be taken by a company immediately after it decides to operate internationally?
deciding which markets to enter
Which question should most likely be answered by all companies due to the rapid move toward globalization?
Where should we produce or source our products?
Economic communities are also known as ________.
free trade zones
Which of the following was designed to help foster trade between nations?
Firms that stay at home to play it safe ________.
risk losing their home markets
Which of the following characterizes U.S. companies in the past?
The home market was much safer than the foreign market.
Growing Green, a U.S. company that markets organic and environmentally friendly gardening and landscaping supplies and equipment, wants to expand the business internationally. Growing Green managers are currently examining the rules imposed by the WTO and the agreements made by NAFTA and the EU. In which stage of the international marketing process is Growing Green?
looking at the global marketing environment
Which of the following is a risk associated with international trade?
highly unstable governments
Which of the following terms refers to a tax levied by a foreign government against certain imported products?
Formed in 1957, the ________ set out to create a single European market by reducing barriers to the free flow of products, services, finances, and labor among member countries and developing policies on trade with nonmember nations.
European union
Which of the following is most likely to be the consequence of increase in growth of global trade?
Foreign firms expand aggressively into new international markets.
A ________ firm is one that, by operating in more than one country, gains marketing, production, research and development, and financial advantages that are not available to purely domestic competitors.
The marketing concept is a philosophy of ________.
customer value and mutual gain
A major step in regulating “unfair or deceptive business acts and practices” was the enactment of the ________ in 1938.
Wheeler-Lea Act
Critics argue that large marketing companies use patents and heavy promotion spending to ________.
bar new companies from entering an industry
The ________ is specifically focused on future company needs
strategic planning concept
Recently, a class-action lawsuit was brought against BigBurger, a fast food chain, charging that its food has contributed to the nationwide obesity epidemic. The suit was eventually dismissed, but many critics continue to point out the health dangers of typical “fast food” menu items. These critics are most likely concerned that the fast food industry has used ________.
harmful products
________ involves persuading people to buy goods they had no thought of buying.
High-pressure selling
Critics charge that promotion adds only ________ to the product.
psychological value
________ calls for meeting the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.
Sustainable marketing
Deceptive promotion includes practices such as misrepresenting the product’s ________.
features or performance