MKT 3013 - Principles of Marketing - Exam 2

The north american free trade agreement (NAFTA) did all the following except:

substancially reduced economic growth in Mexico

Which method of entering the global market place would be least risky?

exporting

the first step in creating the global marketing mix is to:

develop a thorough understanding of the global TARGET market.

the processes consumers use when making purchase decisions are called:

consumer behavior

sam was driving when someone ran a stop sign and totaled his car. what stage of the consumer-decision making process does this represent?

1 - needs recognition

rod saw a television commercial for a honda S2000 and wants to test-drive one. the commercial is an example of a(n) ____________ stimulus.

external

the steps of the consumer decision making process in order:

1 - need recognition

2 - information search

3 - evaluate alternatives

4 - purchase

5 - post purchase behavior

john is throwing a party tonight and needs to order a couple pizzas. these three restaurants represent john's _____________ .

evoked set

Rose is narrowing the number of available choices by using a ________ .

cutoff

Inner tension that consumer experiences after recognizing an inconsistency between behavior and values or opinions is referred to as ________ _________ .

cognitive dissonance

the amount of time and effort a buyer invests in the search, evaluation, and decision processes of consumer behavior:

involvement

a marketing manager would expect his or her product to be a high-involvement product for most consumers if it:

requires substantial financial investment

the fact that mothers in japan feed their babies freeze-dried sardines and rice, while most do not, indicates that _________ influences consumer decision-making.

culture

an enduring belief that a specific mode of conduct is personally or socially preferable to an alternative mode of conduct:

value

UGG has a portion of its website featuring photographs of celebrities wearing UGGS. This is an example of __________ ________ .

opinion leaders

business marketing does not include goods and services that:

are used for personal consumption

a measure of websites' effectiveness and is calculated by multiplying the (frequency of visits) by (the number of pages viewed during each visit)

stickiness

(frequency of visits) x (# of visits) = stickiness

the elimination of intermediaries such as wholesalers or distributors from a marketing channel is referred to as:

disintermediation

type of strategic alliance commonly found in japan

keiretsu

businesses that buy finished goods and sell them for a profit:

resellers

the US government is:

the world's largest single consumer

imagine that you are the research director of a major industrial marketing firm. which of the following codes might you use?

7432

managers can use the NAICS data to:

identify potential new customers

the distribution structure in business marketing is typically ______ .

direct

GM buys engines for use in its vehicles from borg wagner, which in turn buys many of the vehicles it needs from GM. This is an example of __________ .

reciprocity

the ________ ________ is the sell of all persons in an organization who become involved in the purchasing process.

buyer center

which of the following is the best example of a modified re-buy situation?

the purchase of three large screen computer monitors to replace smaller monitors.

a market is people or organizations that have:

needs, wants, ability, and willingness to BUY.

the purpose of market segmentation is to:

enable the market to tailor marketing mix to meet the needs of one or more specific groups.

to be useful, a segmentation scheme must produce segments that meet which four basic criteria?

substantially

identifiability

measurability

accessibility & responsiveness

the coca-cola company has over 450 brands in over 145 countries. it uses ____________ segmentation in this marketing strategy.

geographic

marketers use _________ to segment markets because this information is widely available, and factors such as age or gender are often related to consumer purchasing and consumption behavior.

demographics

which type of demographic segmentation are "deals" using?

income

a series of stages determined by a combination of age, marital status, and the presence or absence of children is known as the:

family life cycle

Miller Lite's long running "great taste, less filling" advertising campaign was ranked in "advertising age" magazine as the 8th best advertising campaign in history. Miller lite was using __________ ___________ in this ad campaign.

benefit segmentation

what does the 80/20 principle propose?

roughly 20% of a firm's customers purchase 80% of the sales volume of product.

firms can be categorized by the type of purchasing strategy they use. _____________ contact familiar suppliers and place an order with the first supplier that can meet (satisfy) product and delivery requirements.

satisficers

market segmentation...

...should be redone periodically.

a __________ _________ is a group of people or organizations for which an organization designs, implements, and maintains a marketing mix.

target market

which target marketing strategy views the market as one big market with no individual segments and thus uses a single marketing mix?

undifferentiated

individuals and organizations utilizing a global vision to effectively market goods and services ACROSS THE WORLD are engaged in:

global marketing

basketball is played nearly everywhere in the world and is an easily understood sport. this is an example of:

practicing global marketing

many people fear world trade because it:

causes some people to lose their jobs as production shifts abroad.

apple inc. has partnerships with wireless carriers in japan, spain, and a handful of european countries. apple is a:

multinational corporation

the patton awning company produces tents, tarps, awnings, and other canvas products. the firm is in the first stage of creating global business because it:

operates in one country and sells to another.

the victorinox swiss army knife is found all over the world. it is manufactured and marketed similarly to all consumers. victroinox uses a:

global marketing standardization approach

muslim countries are receptive to most disney products, but they asked to not include piglet when they sell their characters as toys because pork is believed to be unclean by muslims. this is an example of:

cultural factor

which of the following is an important cultural factor that should be considered by global marketers?

language

consumers purchasing an automobile in hong kong must pay 100% tax on it. this tax is imposed by the government on all automobiles ENTERING the country and is called a(n):

tariff

several arab nations refuse to allow coca-cola products to be sold within their borders because of the company's distribution ships in israel. this is an example of a:

boycott