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Marketing
Q:
Consumers' characteristics can be classed as either behavioral or cognitive. In this context, cognitive factors are abstract, can be determined only through more complex psychological and attitudinal questioning, and generally have no single, universal definitions. Examples of cognitive factors include ________.
A) demographics, gender, and benefits wanted
B) usage rate, level of involvement, and education
C) personality traits, lifestyles, and gender
D) education, usage situation, and social class
E) cultural values, personality traits, and benefits sought
Q:
Consumers' characteristics can be classed as either behavioral or cognitive. In this context, behavioral data can be determined from direct questioning and categorized by a single objective measure. Examples of behavioral data include ________.
A) demographics, gender, and benefits wanted
B) usage rate, level of involvement, and psychographics
C) personality traits, lifestyles, and family life cycle
D) education, quantity of product purchased, and gender
E) level of involvement, awareness of product alternatives, and benefits wanted
Q:
Perry & Swift an investment management firm used the 2001 P$YCLE Segmentation System, which is part of a database entitled ________.
A) Nielsen MyBestSegments
B) VALS
C) PRIZM
D) Nielsen NetRatings
E) Magazine Readers Index (MRI)
Q:
Which of the following is NOT one of the characteristics of an effective target?
A) identifiable
B) sizeable
C) reachable
D) inaccessible
E) congruent with the marketer's objectives and resources
Q:
Peter wants to segment the target audience for his frozen yogurt shop based on benefits sought. Unlike demographic variables, the benefits sought variable is difficult to measure, so it is not as ________.
A) profitable
B) stable in terms of consumption patterns
C) identifiable
D) inaccessible
E) expensive to pursue
Q:
Most marketers prefer to target consumer segments that are relatively ________.
A) small
B) stable in terms of consumption patterns
C) unpredictable
D) inaccessible
E) expensive to pursue
Q:
The ________ of a product or service is the process by which a company creates a distinct image and identity for its products, services and brands in consumers' minds.
A) segmentation
B) target
C) positioning
D) psychographic inventory
E) concentrated marketing strategy
Q:
Qantas targets four distinct segments: coach passengers, premium economy, business and first class, and uses ________ to clearly differentiate between the options targeted at each segment.
A) positioning
B) behavioral targeting
C) geographic segmentation
D) reverse targeting
E) countersegmentation
Q:
The process of dividing a market into distinct subsets of consumers with common needs or characteristics is known as ________.
A) target marketing
B) market segmentation
C) mass marketing
D) the marketing concept
E) market evaluation
Q:
Identify the three components of the decision-making process. In your response, please provide an example of what someone who was in the market for a new television might do at that stage in the process.
Q:
Identify the four tiers of the customer pyramid and explain how a financial institution might change its offerings based on the characteristics of each tier. In your response, be sure to tie the suggested offerings to the characteristics of the tier so it is clear that you understand the characteristics of each tier.
Q:
Identify and briefly describe five of the factors that determine customer satisfaction with online websites and merchants while shopping online.
Q:
Identify and briefly describe the two interrelated forms of customer engagement with marketers. Provide an example that shows why a company needs to consider both types of engagement.
Q:
Identify and discuss the reasons for which small reductions in customer defections produce significant increases in profits.
Q:
In terms of expectations, when is a customer not satisfied, satisfied, and delighted?
Q:
Identify the three conditions under which customization is most likely to be effective and provide an example of a successful customizable offering that meets these criteria.
Q:
Provide three specific examples of how the Internet and related technologies improve marketing transactions by adding value that benefits marketers and/or customers.
Q:
Imagine you are training a marketing intern on how your company, which markets athletic footwear, uses market segmentation, target marketing and positioning. Explain what each is and provide an example.
Q:
Define consumer behavior. What is the scope of consumer behavior?
Q:
Courtney has been looking at laptop computers for a while and has decided to purchase a Dell. Courtney's decision to purchase a Dell signifies the output stage of decision making.
Q:
Purchase behavior and post purchase evaluation are elements of the input stage of the consumer decision-making model.
Q:
Sophisticated marketers today practice selective relationship building, which can lead to companies rejecting or firing certain types of consumers.
Q:
Customer satisfaction is a function of customer expectations.
Q:
The three drivers of successful relationships between marketers and customers are customer value, high levels of customer satisfaction, and customer retention.
Q:
Customization is more practical and effective for marketers who are selling low involvement products.
Q:
Cross-screen marketing consists of tracking and targeting users across their computers, mobile phones and tablets.
Q:
The downside of electronic communications is marketers have less ability to gauge the effectiveness of their promotional messages than they did via traditional media outlets.
Q:
The societal marketing concept advocates a short-term perspective in driving for increased market share and quick profits.
Q:
When Amazon buyers find books instantly, read sample pages and reviews posted by other readers, and begin reading purchased books within minutes after placing their orders, Amazon collects information about what books they looked at, the sample pages and reviews they clicked on, and the time spent on each activity. This is an example of a value exchange.
Q:
Much like traditional television advertising, digital technologies allow for two-way interactive exchanges between customers and marketers.
Q:
The internet offers marketers the ability to customize their products, services, and promotional messages to individual consumers, as seen in how Amazon.com sends emails to customers who are interested in a product category telling them about a new promotional offer.
Q:
The Physicians Committee for Responsible Medicine targeted Burger King in television commercials that blame it for heart disease.
Q:
The societal marketing concept requires marketers to fulfill the needs of the target audience in ways that improve, preserve and enhance society's well-being and meet business objectives.
Q:
Post-purchase benefits such as warranties and return policies are part of the place element of the marketing mix.
Q:
Me-too products lack a unique image or benefit.
Q:
Most products do not have substitutes or similar products in the marketplace, so having a distinct benefit is usually unimportant for marketers.
Q:
No matter where we are born, we all have the same biological needs: needs for food, nourishment, water, air and shelter from the environment's elements.
Q:
Companies that focus on understanding customers are able to continue to grow and remain leaders in their industries in spite of increased competition and changing business environments.
Q:
Implementing the marketing concept includes consumer research, market segmentation, a combination of the product, price, place and promotion strategies, providing value, and long-term customer satisfaction and retention.
Q:
The selling concept does not consider customer satisfaction because consumers who are aggressively induced to buy products they do not want or need will not buy them again.
Q:
Marketing myopia causes companies to focus on crucial changes in the marketplace as they look through the window rather than into the mirror.
Q:
The production orientation makes sense in developing countries where the main objective is to make products available to the maximum number of consumers at the lowest prices.
Q:
Marketing-oriented companies try to persuade consumers to buy what the firm has already produced, regardless of whether those goods satisfy consumers' needs.
Q:
Consumer behavior includes the behavior that consumers display in searching for, purchasing, evaluating and disposing of products and services.
Q:
AIRLINE MINI CASE: Transatlantic Airlines flies between popular destinations in the United States and western Europe, and claims to deliver "a first class experience for every passenger." All ticket purchases are made online, and users of the Transatlantic website must register before they search for flights. Transatlantic uses this information to determine which consumers are generating the most profits for the company, which services they purchase most frequently, and which services they are potentially interested in but are not purchasing. This information is then used to make specific promotional offers to profitable customers in an attempt to retain their business and to expand the range of flight services that they purchase. Transatlantic also uses this information to provide unexpected perks to highly profitable customers, like free upgrades to first class.
In the AIRLINE MINI CASE, by tracking flight searches and developing services to better meet customers' unfulfilled needs, Transatlantic adheres to the ________.
A) social marketing concept
B) production concept
C) selling concept
D) marketing concept
E) product concept
Q:
AIRLINE MINI CASE: Transatlantic Airlines flies between popular destinations in the United States and western Europe, and claims to deliver "a first class experience for every passenger." All ticket purchases are made online, and users of the Transatlantic website must register before they search for flights. Transatlantic uses this information to determine which consumers are generating the most profits for the company, which services they purchase most frequently, and which services they are potentially interested in but are not purchasing. This information is then used to make specific promotional offers to profitable customers in an attempt to retain their business and to expand the range of flight services that they purchase. Transatlantic also uses this information to provide unexpected perks to highly profitable customers, like free upgrades to first class.
In the AIRLINE MINI CASE, when Transatlantic upgrades the seat assignment of especially loyal customers, the airline is attempting to increase ________.
A) net revenue
B) production capacity
C) customer satisfaction
D) social responsibility
E) profit margins
Q:
RYAN'S RUNNERS MINI CASE: Ryan wants to open a store that caters to athletes, but, due to space and budgetary constraints, he recognizes that he will not be able to offer the same variety and selection of products as does the local athletic mega-store, so he has decided to focus specifically on runners. He stocks shoes and related gear for runners, and maintains a staff that is knowledgeable and enthusiastic about running. Ryan's advertising campaign emphasizes his store's high standard of customer service and selection of products specifically tailored to meet the needs of the runner.
In the RYAN'S RUNNERS MINI CASE, which of the following is most likely to represent the unique selling proposition at Ryan's Runners?
A) Ryan's Runners offers the widest selection of athletic shoes in town.
B) Ryan's Runners is the price leader in running gear.
C) At Ryan's Runners, runners can find high quality products and get recommendations from employees who share their passion for running.
D) Ryan's Runners is a place where all athletes can find all the equipment they need for the sport of their interest.
E) all of the above
Q:
RYAN'S RUNNERS MINI CASE: Ryan wants to open a store that caters to athletes, but, due to space and budgetary constraints, he recognizes that he will not be able to offer the same variety and selection of products as does the local athletic mega-store, so he has decided to focus specifically on runners. He stocks shoes and related gear for runners, and maintains a staff that is knowledgeable and enthusiastic about running. Ryan's advertising campaign emphasizes his store's high standard of customer service and selection of products specifically tailored to meet the needs of the runner.
In the RYAN'S RUNNERS MINI CASE, which of the four elements of the marketing mix does Ryan use to differentiate his store in the marketplace?
A) place
B) positioning
C) promotion
D) price
E) product/service
Q:
RYAN'S RUNNERS MINI CASE: Ryan wants to open a store that caters to athletes, but, due to space and budgetary constraints, he recognizes that he will not be able to offer the same variety and selection of products as does the local athletic mega-store, so he has decided to focus specifically on runners. He stocks shoes and related gear for runners, and maintains a staff that is knowledgeable and enthusiastic about running. Ryan's advertising campaign emphasizes his store's high standard of customer service and selection of products specifically tailored to meet the needs of the runner.
In the RYAN'S RUNNERS MINI CASE, by portraying his store as a one-stop-shop for all your running needs, Ryan has developed a distinct image for his store. This is an example of ________.
A) segmentation
B) targeting
C) placement
D) positioning
E) social marketing
Q:
RYAN'S RUNNERS MINI CASE: Ryan wants to open a store that caters to athletes, but, due to space and budgetary constraints, he recognizes that he will not be able to offer the same variety and selection of products as does the local athletic mega-store, so he has decided to focus specifically on runners. He stocks shoes and related gear for runners, and maintains a staff that is knowledgeable and enthusiastic about running. Ryan's advertising campaign emphasizes his store's high standard of customer service and selection of products specifically tailored to meet the needs of the runner.
In the RYAN'S RUNNERS MINI CASE, Ryan decides to focus his attention on that segment of the market that is interested in running. This selection of a specific market segment is known as ________.
A) social marketing
B) market targeting
C) product placement
D) market segmentation
E) product positioning
Q:
RYAN'S RUNNERS MINI CASE: Ryan wants to open a store that caters to athletes, but, due to space and budgetary constraints, he recognizes that he will not be able to offer the same variety and selection of products as does the local athletic mega-store, so he has decided to focus specifically on runners. He stocks shoes and related gear for runners, and maintains a staff that is knowledgeable and enthusiastic about running. Ryan's advertising campaign emphasizes his store's high standard of customer service and selection of products specifically tailored to meet the needs of the runner.
In the RYAN'S RUNNERS MINI CASE, the process of dividing the athletic market into different subsets of shoe consumers, such as runners, basketball players, and golfers, is known as ________.
A) market targeting
B) product placement
C) product positioning
D) market segmentation
E) social marketing
Q:
CAR MINI CASE: In the early 1900s, Henry Ford made a fortune manufacturing Model T cars and selling them cheaply, making the automobile affordable for a much larger proportion of the population than had previously been the case. He accomplished this by producing only one model of car and doing so cheaply and at high volumes through the utilization of assembly line manufacture. In 1923, General Motors decided to increase its market share in the automobile industry by offering, instead of just one model, as Ford did, a variety of affordable mass-produced models to meet the various differing needs of different types of consumers.
In the CAR MINI CASE, by offering a variety of cars to choose from, General Motors was able to differentiate itself from Ford by demonstrating to consumers that it could offer ________.
A) organizational buying power
B) compelling consumer research
C) an effective marketing mix
D) a unique selling proposition
E) significantly lower prices
Q:
CAR MINI CASE: In the early 1900s, Henry Ford made a fortune manufacturing Model T cars and selling them cheaply, making the automobile affordable for a much larger proportion of the population than had previously been the case. He accomplished this by producing only one model of car and doing so cheaply and at high volumes through the utilization of assembly line manufacture. In 1923, General Motors decided to increase its market share in the automobile industry by offering, instead of just one model, as Ford did, a variety of affordable mass-produced models to meet the various differing needs of different types of consumers.
In the CAR MINI CASE, which of the following elements of the marketing mix was central to Ford's business model?
A) promotion
B) product
C) price
D) placement
E) production
Q:
CAR MINI CASE: In the early 1900s, Henry Ford made a fortune manufacturing Model T cars and selling them cheaply, making the automobile affordable for a much larger proportion of the population than had previously been the case. He accomplished this by producing only one model of car and doing so cheaply and at high volumes through the utilization of assembly line manufacture. In 1923, General Motors decided to increase its market share in the automobile industry by offering, instead of just one model, as Ford did, a variety of affordable mass-produced models to meet the various differing needs of different types of consumers.
In the CAR MINI CASE, Ford's business approach exhibited a ________.
A) production orientation
B) marketing orientation
C) societal marketing orientation
D) product orientation
E) selling orientation
Q:
CAR MINI CASE: In the early 1900s, Henry Ford made a fortune manufacturing Model T cars and selling them cheaply, making the automobile affordable for a much larger proportion of the population than had previously been the case. He accomplished this by producing only one model of car and doing so cheaply and at high volumes through the utilization of assembly line manufacture. In 1923, General Motors decided to increase its market share in the automobile industry by offering, instead of just one model, as Ford did, a variety of affordable mass-produced models to meet the various differing needs of different types of consumers.
In the CAR MINI CASE, Ford's business strategy focused on ________.
A) targeting the market
B) positioning its product
C) developing a value proposition
D) segmenting the market
E) minimizing production costs
Q:
Which of the four disciplines that helps shape our understanding of consumer behavior compares human societies' culture and development?
A) psychology
B) sociology
C) anthropology
D) communication
E) economics
Q:
Which of the four disciplines that helps shape our understanding of consumer behavior is defined as the study of the development, structure, functioning and problems of human society?
A) psychology
B) sociology
C) anthropology
D) communication
E) economics
Q:
Which of the four disciplines that helps shape our understanding of consumer behavior is defined as the study of the human mind and the mental factors that impact behavior?
A) psychology
B) sociology
C) anthropology
D) communication
E) economics
Q:
Transatlantic Airlines identifies the most profitable customers and offers them specific incentives, a practice known as ________.
A) social marketing
B) customer profitability-focused marketing
C) market targeting
D) market segmentation
E) product positioning
Q:
Ryan runs a store that caters to athletes. He portrays his store as a one-stop-shop for all your running needs, so he has developed a distinct image for his store. This is an example of ________.
A) segmentation
B) targeting
C) placement
D) positioning
E) social marketing
Q:
Ryan runs a store that caters to athletes. He divides the athletic market into different subsets of shoe consumers, such as runners, basketball players, and golfers. Ryan decides to focus his attention on that segment of the market that is interested in running. This selection of a specific market segment is known as ________.
A) social marketing
B) market targeting
C) product placement
D) market segmentation
E) product positioning
Q:
Ryan runs a store that caters to athletes. He divides the athletic market into different subsets of shoe consumers, such as runners, basketball players, and golfers, which is known as ________.
A) market targeting
B) product placement
C) product positioning
D) market segmentation
E) social marketing
Q:
In the consumer decision-making process, the ________ stage focuses on how consumers make decisions.
A) analysis
B) evaluation
C) input
D) process
E) output
Q:
In the consumer decision-making process, the ________ stage focuses on how consumers make decisions.
A) analysis
B) evaluation
C) input
D) process
E) output
Q:
In the consumer decision-making process, the ________ stage influences the consumer's recognition of a product need.
A) analysis
B) evaluation
C) input
D) process
E) output
Q:
The three distinct but interlocking steps of the consumer decision-making process are ________.
A) input, analysis, and output
B) environment, search, and evaluation
C) input, process, and output
D) analysis, decision making, and output
E) analysis, process, and output
Q:
Disney gets its cast members to go out of their way to make people happy by valuing its employees like internal customers, which is also known as ________.
A) termination costs
B) internal manipulation
C) customer gratitude
D) customer gratuity
E) internal marketing
Q:
Which of the following customer retention measurement methods is described: the percentage of customers at the beginning of the year that are still customers by the end of the year?
A) customer valuation
B) retention rate
C) complaint analysis
D) defection rate
E) benchmark
Q:
Which tier of customers is most likely to get "fired" by a firm?
A) gold
B) lead
C) silver
D) iron
E) platinum
Q:
Once or twice a year, when Estee Lauder runs a particularly good promotion, Candace buys some new make-up. She typically only spends the minimum required to qualify for the promotion. On the customer profitability pyramid, Candace is most likely to fall into the ________ tier.
A) gold
B) lead
C) silver
D) iron
E) platinum
Q:
Gloria always uses Tide laundry detergent and stocks up whenever she sees a sale. As a result, she rarely pays full price for detergent. On the customer profitability pyramid, Gloria is most likely to fall into the ________ tier.
A) gold
B) lead
C) silver
D) iron
E) platinum
Q:
Customer profitability-focused marketing ________.
A) tracks costs and revenues of individual customers and then categorizes those consumers into tiers based on consumption behaviors that are specific to the company's offerings
B) minimizes the cost of production in order to offer the product at the best price possible
C) aggressively markets products to consumers who do not necessarily think that they need the product
D) continually updates the product without regard to the needs of the consumer
E) invests money in attracting customers that are very sensitive to price and are not loyal to any given brand
Q:
The primary objective of providing value to customers continuously and more effectively than the competition is ________.
A) to monopolize the market
B) to produce a compelling advertising message
C) to help recruit a dedicated workforce
D) to avoid government regulation of the industry
E) to create and to retain highly satisfied customers
Q:
Norman dislikes the health insurance plan provided by his employer, but is unwilling to switch to a different health insurer because obtaining private health insurance would be significantly more expensive than the employer-subsidized plan in which he is currently enrolled. With regard to health insurance, Norman is best described as a(n) ________.
A) loyalist
B) apostle
C) hostage
D) terrorist
E) mercenary
Q:
Megan uses Bed Head hair products and enthusiastically recommends them to others any time she receives complements on her hair. With regard to hair products, Megan is best described as a(n) ________.
A) ambivalent consumer
B) apostle
C) hostage
D) terrorist
E) mercenary
Q:
When Gary buys ice cream, he typically buys whichever brand is on sale that week. With regard to ice cream, Gary is best described as a(n) ________.
A) brand advocate
B) apostle
C) hostage
D) terrorist
E) mercenary
Q:
Which is NOT one of the benefits of highly satisfied customers?
A) They keep purchasing the same products.
B) They provide word-of-mouth to others.
C) They become customers for life.
D) They switch to competitors if offered a somewhat lower price.
E) They repeatedly buy the same brand.
Q:
Which of the following describes Amazon's customers with high bonds and modest purchase levels?
A) inertia-driven customers
B) transactional customers
C) loyal customers
D) delighted customers
E) fans
Q:
Which of the following determinants of customer satisfaction with online websites and merchants while shopping online is characterized by an attractive site design; enjoyable shopping at the site; and an inviting, comfortable site?
A) trust
B) engagement
C) network
D) interactivity
E) adaptation
Q:
Which of the following determinants of customer satisfaction with online websites and merchants while shopping online is characterized by the customer's willingness to count on the merchant to successfully complete the purchase transaction and feeling the merchant is reliable and honest?
A) trust
B) engagement
C) network
D) interactivity
E) adaptation