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Marketing
Q:
All things equal, a consumer is more likely to pay attention to stronger stimuli than to weaker stimuli.
Q:
Involuntary attention is attention that is in the control of the consumer and that occurs as a result of exposure to familiar stimuli.
Q:
Branded products placed conspicuously in movies or television shows can result in implicit memory formation.
Q:
The mere exposure effect works best when the consumer is distracted from processing the focal stimulus.
Q:
The mere exposure effect can take place even when there is no recall of the previous stimulus.
Q:
Explicit memory becomes stronger the more distracted one is from attending to the stimulus.
Q:
Voluntary memory is the memory for information one is exposed to, attends to, and applies effort to remember.
Q:
Explicit memory creates preattentive effects.
Q:
The JMD (just meaningful difference) represents the smallest amount of change in a stimulus that would influence consumer consumption and choice.
Q:
Weber's Law states that as the intensity of the initial stimulus decreases, a consumer's ability to detect differences between two levels of the stimulus decreases.
Q:
The JND (just noticeable difference) represents how much stronger one stimulus has to be relative to another so that someone can notice that the two are not the same.
Q:
Research examining subliminal processing suggests that subliminal persuasion is a very effective marketing tool.
Q:
Subliminal persuasion is behavior change induced or brought about based on selectively processing a message.
Q:
Subliminal processing refers to the way in which consumers can be influenced without their brains sensing exposure to any kind of stimuli.
Q:
Selective distortion is a process by which consumers interpret information in ways that are biased by their previously held beliefs.
Q:
Marketers use the term "noise" to describe the idea that the environment often bombards consumers with too much information in their daily lives.
Q:
Selective attention involves paying attention to only certain stimuli.
Q:
Everyday on his drive to work, Hank passes by many billboards and many ads play on the radio in his car. However, he only sees and hears a few of them. This is an example of selective distortion.
Q:
The term "anthropomorphism" refers to a design that gives human like characteristics to inanimate objects.
Q:
The perceptual process ends with a reaction.
Q:
Assimilation occurs when a stimulus does not share enough in common with existing categories to allow categorization.
Q:
Accommodation occurs when a consumer easily recognizes a round, red fruit as an apple.
Q:
Marketers need to know how consumers will react to unknown words when creating the name for a new product or new company.
Q:
The term cognitive refers to a mental or thinking process.
Q:
The phases of perception overlap with the concepts of exposure, attention, and comprehension.
Q:
Sensing alone allows a consumer to make sense out of something.
Q:
Consumers are undiscriminating in the information to which they pay attention.
Q:
Comprehension is the consumer's attempt to derive meaning from the information received by them.
Q:
Attention is the purposeful allocation of information-processing capacity toward developing an understanding of some stimulus.
Q:
A consumer's delayed response to information, that occurs as an afterthought, is known as sensation.
Q:
The process of bringing some stimulus within the proximity of a consumer so that it can be sensed by one of the five human senses is called attention.
Q:
Exposure represents the first step to learning.
Q:
Perception represents an objective reality.
Q:
Consumers learn marketing-related information both intentionally as well as unintentionally.
Q:
Comprehension refers to a consumer's awareness and interpretation of reality.
Q:
Perception refers to a change in behavior resulting from the interaction between a person and a stimulus.
Q:
Customer lifetime value includes the net present value of the stream of profits over a customer's lifetime and _____.a. the costs associated with satisfying that customerb. the costs associated with keeping that customer for more than 10 yearsc. the retention rate for all customersd. opportunity cost saved from having loyal customerse. the worth attributed to the equity a good customer can bring
Q:
The approximate worth of a customer to a company in economic terms is known as the _____.
a. net present value (NPV)
b. customer lifetime value (CLV)
c. customer present value (CPV)
d. customer future value (CFV)
e. total customer value (TCV)
Q:
What do the x- and y-axes on a perceptual map represent?
a. How competitors perform on the two most important attributes to consumers-price and quality
b. The ideal combination of attributes and the actual combination of attributes of all competitors in the market
c. Dimensions used to separate competitors on a specific characteristic
d. Growth rate of the market and market shares of each competitor
e. Factors used to identify market segments
Q:
Which of the following, on a perceptual map, represents the combination of product characteristics that provide the most value to an individual consumer or market segment?
a. Touch point
b. Maximum point
c. Optimum point
d. Ideal point
e. Slope intercept
Q:
A cosmetic manufacturer that targets young women was looking at a graphical display of how women perceived different brands of cosmetics. They found that their brand was clustered with brands that are targeted toward older women. This graphical depiction of the positioning of competing brands used by the marketer is an example of a _____.
a. perceptual map
b. BCG matrix
c. competitive matrix
d. competitive array
e. positioning plot
Q:
Which of the following is used to depict graphically the positioning of competing products?
a. Product blueprint
b. Schema
c. Perceptual map
d. Product map
e. Demand curve
Q:
Product _____ refers to the way a product is perceived by a consumer.
a. differentiation
b. augmentation
c. positioning
d. segmentation
e. perception
Q:
Consumers do not view all types of coffee as identical to one another. Some prefer iced coffee, while others will only drink non-fat latte. Still others will only drink chai latte or a cappuccino. This marketplace condition in which consumers do not view all competing products as identical to one another is called _____.
a. product differentiation
b. product variation
c. market segmentation
d. perceptual differentiation
e. selective perception
Q:
_____ refers to a marketplace condition in which consumers do not view all competing products as identical to one another.
a. Product positioning
b. Product differentiation
c. Marketing positioning
d. Competitive advantage
e. Market differentiation
Q:
A product with backward sloping demand displays _____.
a. a negative price-quantity relationship
b. a higher consumer sensitivity toward price than toward other product factors
c. a neutral price-quantity relationship
d. a positive price-quantity relationship
e. a higher consumer sensitivity toward product quality than toward price
Q:
Which of the following terms is used to represent market sensitivity to changes in price or other characteristics?
a. Elasticity
b. Differentiation
c. Congruity
d. Segmentation
e. Positioning
Q:
Community Trust Bank is analyzing its customer data to determine if groups other than the business customers can be identified. The bank is looking at the frequency of branch visits, use of ATMs, online banking activity, loan activity, and account balances for each customer. The bank has identified three groups of customers based on these factors and is considering offering different products to better meet the needs of each group. Which of the following marketing concepts is represented by this exercise?
a. Total value concept
b. Market segmentation
c. Value reengineering
d. Marketing audit
e. Environmental scanning
Q:
_____ is the separation of a market into groups based on the different demand curves associated with each group.
a. Market zoning
b. Market augmentation
c. Market positioning
d. Market segmentation
e. Market selection
Q:
Prime's is a company that manufactures and markets suits for professional kayakers. These consumers are predominantly males in the age group of 25-45 years. This market segment that Prime's serves with a specific marketing mix is called its _____.
a. preferred market
b. optimum market
c. target market
d. dominant market
e. elementary market
Q:
The market segment a company will serve with a specific marketing mix is referred to as the _____ market.
a. target
b. primary
c. elementary
d. capital
e. dominant
Q:
Which of the following is an element of the marketing mix?
a. Quality
b. Pricing
c. Design
d. Use
e. Span
Q:
The realization that a consumer is necessary and must play a part in order to produce value is the major premise underlying the concept of _____.
a. synergy
b. value integration
c. value internalization
d. value co-creation
e. dyadic valuation
Q:
While buying a car, a potential buyer takes into consideration several aspects of the car, such as its design, quality, ease of servicing, speed, and mileage. An automobile company, that takes into consideration all these aspects while manufacturing and selling its cars, is said to be practicing the _____ concept.
a. value marketing
b. multifaceted product
c. total value
d. product value
e. net worth
Q:
The business practice wherein companies operate with the understanding that products provide value in multiple ways is called the _____ concept.
a. net worth
b. total value
c. value marketing
d. product value
e. multifaceted product
Q:
Andrea purchased an Apple iPad and an extended warranty. She also purchased a gaming application specially developed for Apple iPad. The application purchased by Andrea, is an example of a(n) _____ product.
a. terminal
b. segmented
c. extended
d. augmented
e. complete
Q:
A(n) _____product includes the original product plus the extra things needed to increase the value from consumption.
a. augmented
b. secondary
c. complete
d. enhanced
e. terminal
Q:
A departmental store realizes that it needs to increase revenue in the face of severe budget cuts due to the weak economy. The store has decided to run a sale every month and upgrade their stock more regularly, so that customers don"t see the same products every month. They are going to begin offering a wider selection of brands for men and women. They plan to advertise on billboards, on radio, on television, and in newspapers throughout the state. The store will also send direct mail letters to regular customers. The sale, the wide selection of brands, and the promotion are examples of _____.
a. blue ocean strategy
b. product differentiation
c. marketing tactics
d. marketing augmentation
e. task implementation
Q:
Which of the following is an example of a marketing tactic?
a. Implementing a new technology in order to reduce costs over the next few years
b. Analyzing the budget for the next two years
c. Focusing on the five-year plan
d. Distributing a product only through discount stores
e. Setting the company's sales goal
Q:
_____ strategy deals with how the firm will be defined and sets general goals.
a. Corporate
b. Marketing
c. Tactical
d. Top-level
e. Meta
Q:
Cullen and MacNeil's is a well-known store that sells writing material. The company faces strong competition from the electronic media. If the company thinks of itself merely as a paper company instead of a company that delivers the benefits users want, it could be taking a short-sighted view of its business. That is, Cullen and MacNeil's could suffer from _____.
a. brain drain
b. cognitive dissonance
c. marketing disconnect
d. marketing myopia
e. product devaluation
Q:
When firms fail to realize how their products provide value, they run the risk of developing _____.
a. marketing myopia
b. cognitive dissonance
c. negative affect
d. marketing dissonance
e. marketing disconnect
Q:
Which of the following terms refers to the way a company goes about creating value for its customers?
a. Schema
b. Marketing strategy
c. Social inclusion
d. Blueprint
e. Focus
Q:
FordTech is a software company whose clients are based in France. The company has formed a team to decide the direction the organization should take over the next five years. The focus of this team is to increase their clientele in Europe. The company is keen on taking advantage of the opportunities and avoiding threats in the changing environment. This team is involved in developing the _____ for the organization.
a. architecture
b. layout
c. schema
d. blueprint
e. strategy
Q:
A planned way of doing something is known as _____.
a. marketing myopia
b. a mission
c. a strategy
d. utilization
e. a terminal value
Q:
Which of the following is true about the two basic types of values?
a. Utilitarian value is an end in and of itself rather than a means to an end.
b. Hedonic value is very emotional and subjective in nature.
c. Utilitarian value is the immediate gratification that comes from experiencing some activity.
d. Utilitarian value is immediate whereas hedonic value is delayed.
e. Hedonic value is provided by an activity because the activity allows something good to happen or be accomplished.
Q:
Natalie and her friends enjoy visiting upscale stores together even if they do not purchase anything. For them, the experience of shopping is an end in itself, not just a means to an end. While shopping, which of the following types of values do Natalie and her friends experience?
a. Utilitarian value
b. Pleasure-seeking value
c. Hedonic value
d. Experiential value
e. Augmented value
Q:
_____ value is the immediate gratification that comes from experiencing some activity.
a. Hedonic
b. Utilitarian
c. End-state
d. Process
e. Terminal
Q:
Sam needed a new pair of bicycle pedals. After visiting several stores to find the right ones, he purchased a pair from a local store called All Things Sports and was satisfied that his needs were met. Which of the following best describes the type of value Sam received?
a. End-state value
b. Premium value
c. Terminal value
d. Utilitarian value
e. Purchase value
Q:
_____ value is derived from a product that helps a consumer solve problems and accomplish tasks that are a part of being a consumer.
a. Utilitarian
b. Functional
c. Terminal
d. Purchase
e. End-state
Q:
Two main types of values are _____.
a. internal and external
b. utilitarian and hedonic
c. personal and social
d. primary and secondary
e. temporal and stable
Q:
Which of the following is a negative consequence of consumption?
a. Quality
b. Opportunity costs
c. Prestige
d. Convenience
e. Experience
Q:
_____ captures how much gratification a consumer receives from consumption.
a. Opportunity cost
b. Internal rate of return
c. Value
d. Emotional contagion
e. Sunk cost
Q:
Which of the following terms refers to a personal assessment of the net worth a consumer obtains from an activity?
a. Quality
b. Experience
c. Prestige
d. Value
e. Effort
Q:
The presence of music in an environment may shape consumer behavior and even change buying patterns. In this case, music is an example of a _____.
a. social influence
b. situational influence
c. socio-economic factor
d. hedonic factor
e. perceptional influence
Q:
_____ are unique to a time or place that can affect consumer decision making and the value received from consumption.
a. Situational influences
b. Temporal factors
c. Social influences
d. Internal factors
e. Socio-environmental factors
Q:
Amy is a member of the readers' club in her school. Before she buys any new book, she checks what is popular with the others in her club. Amy's readers' club is part of her _____ that influences Amy's everyday experiences.
a. internal environment
b. value network
c. relationship network
d. emotional environment
e. social environment
Q:
Which of the following environments includes the people and groups who help shape a consumer's everyday experiences?
a. Emotional environment
b. Internal environment
c. Social environment
d. Macro environment
e. Micro environment
Q:
Characteristics and traits, including personality and lifestyles, that help define a consumer are referred to as _____.
a. value enhancers
b. individual identifiers
c. discriminators
d. individual differences
e. exemplars
Q:
Hannah is an avid reader and looks forward to going to the library at the end of each week to issue more books. Which of the following terms refers to the sense of satisfaction she feels from this activity?
a. Affect
b. Delusion
c. Schema
d. Synergy
e. Externalities