MARKETING 201 MIDTERM

Which one of the below is NOT an example of a pre-purchase issue for the consumer?

a. Realizing that you are out of milk

b. Calling a fashion savvy friend for advice on a new pair of shoes

c. Contemplating what stores to visit for purchasing a TV

d. Comparing features of different laptop brands at the store

e. Searching for information for purchasing a car

d. Comparing features of different laptop brands at the store

Jenny is absolutely exhausted after her shopping trip to pick out a prom dress. This has been one of the most stressful shopping trips she has ever been on. Jenny has just faced a series of issues from a consumer's perspective. Which of the following issues' categories would most accurately describe the context in which Jenny's stressful decision took place?

a. Pre-purchase issues

b. Purchase issues

c. Post-purchase issues

d. Economic issues

b. Purchase issues

Starbucks strives to establish itself as a presence in thousands of cities internationally. In addition, the company sought to increase the number of purchases by customers with a ________ strategy that led to new in-store merchandise, including compilation CDs and high-speed wireless access, as such, expanding out of their core business.

a. Product-development

b. Market-penetration

c. Diversification

d. Market-development

c. Diversification

Which of the following mission statements is market-oriented?

a. Revlon: We sell cosmetics

b. Disney: We run theme parks

c. Wal-Mart: We deliver value through low prices

d. Xerox: We make copy, fax, and other office machines

e. Bic: We make the best pens in the world.

c. Wal-Mart: We deliver value through low prices

If a market is segmented according to light, medium, and heavy product users, the marketer segmenting this market is using the ________ as the means to segment.

a. User psyche

b. Usage rate

c. Buyer-readiness stage

d. Occasion

e. Benefit

b. Usage rate

A niche is characterized as being all of the following EXCEPT that ________.

a. The customers in the niche have a distinct set of needs.

b. The customers will pay a premium to the firm that satisfies their needs.

c. The niche is less likely to attract other competitors.

d. The customers generally have smaller amounts of income.

e. The nicher gains certain economies through specialization.

d. The customers generally have smaller amounts of income.

What kinds of information or stimuli are not likely to get attention?

a. Surprising

b. Concrete

c. Pleasant

d. Self-irrelevant

e. Prominent

d. Self-irrelevant

Ben Perez is driving along a mountain road. In the distance, he sees a road crew working on a fallen tree that has blocked the highway. When Ben first sees the road crew, which of the following perceptual processes has been engaged?

a. Exposure

b. Attention

c. Comprehension

d. Interpretation

e. Sensation

a. Exposure

Which one of the below is correct about societal marketing and social marketing?

a. Societal marketing is about trying to enhance the well-being of consumers and society as a whole while promoting regular consumer products.

b. Guerilla marketing is an example of social marketing.

c. A lot of non-smoking ads are examples of societal marketing.

d. Societal marketing uses marketing techniques normally employed to sell products for the purpose of encouraging positive behaviors.

e. Guerilla marketing is an example of societal marketing.

a. Societal marketing is about trying to enhance the well-being of consumers and society as a whole while promoting regular consumer products.

The buying process starts when the buyer recognizes a(n) _________.

a. Product

b. Advertisement for the product

c. Problem or need

d. Internal cue

c. Problem or need

Jose and Erika have just divorced. Which of the following demographic segmentation subsegment formats might be used by marketers to reach Jose or Erika?

a. Life stage

b. Age segment

c. User segment

d. Occasion segment

e. b and d

a. Life stage

________ is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants.

a. Psychographic segmentation

b. Psychology

c. Consumer behavior

d. Product differentiation

e. Both a and b apply.

c. Consumer behavior

A strategy for company growth by identifying and developing new market segments for current company products is called:

a. Product development

b. Market development

c. Marketing effort

d. Product mix

e. Total quality management (TQM)

b. Market development

If a marketing manager segments the market into culture-oriented, sports-oriented, or outdoor-oriented groups, he or she is segmenting on the basis of ________.

a. Geography

b. Behavioral occasions

c. User status

d. Psychographic lifestyle

e. b and d

d. Psychographic lifestyle

If the strength of a stimulus is increased by four times, then the j.n.d. will be increased by ________ times.

a. Two

b. Four

c. Eight

d. Sixteen

b. Four

The first step of the marketing research approach is to __________.

a. Develop findings

b. Define the problem

c. Take marketing actions

d. Collect relevant information

e. Develop the research plan

b. Define the problem

In the BCG growth-share matrix, low-growth, high-share businesses or products are called:

a. Stars

b. Question marks

c. Cash cows

d. Dogs

e. Low shares

c. Cash cows

A bank surveys mortgage and loan holders to learn their household size, income, age, and marital status. The bank has engaged in:

a. Descriptive research

b. Casual research

c. Exploratory research

d. Observational research

e. Focus group research

a. Descriptive research

VALS is a well-known system of lifestyle segmentation based on organizing segments in terms of __________and ___________.

a. Education; income

b. Self-orientation and resources.

c. Product usage rates; variety seeking behaviors

d. Demographics; geographics

b. Self-orientation and resources.

Product concept assumes that consumers buy the product that offers them the best performance and most features. This concept leads to ____, a focus on the product rather than on the consumer needs.

a. Marketing myopia

b. Recency effect

c. Production concept

d. Mere exposure

e. Cognitive dissonance

a. Marketing myopia

You and your best friend watch the same television commercial together. You think that thespokesperson in the ad is quite humorous. Your friend thinks that the spokesperson is just plain stupid. This is an example of:

a. The result of differing ad content upon viewers.

b. The subjectivity of the interpretation process.

c. An ad that cannot be effective.

d. One person not exercising intent of interpretation.

e. Cognitive dissonance caused by conflicting opinions.

b. The subjectivity of the interpretation process.

A ____ is a basic biological motive whereas a _________ is a means that society has told us to satisfy a need:

a. Physiological requirement, social need

b. Need, desire

c. Want, desire

d. Physical requirement, societal need

e. Physical requirement, social need

b. Need, desire

________ is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.

a. Marketing intelligence

b. MIS (marketing information system)

c. Marketing research

d. Consumer Intelligence

e. Marketing management

c. Marketing research

A ________ consists of a group of customers who share a similar set of needs and wants.

a. Market target

b. Market group

c. Market slice

d. Market segment

d. Market segment

Many firms choose to protect or enhance the natural environment as they go about their business activities. This practice is known as ________.

a. Consumer marketing

b. Social marketing

c. Natural marketing

d. Green marketing

e. Responsible marketing

d. Green marketing

A scientifically valid experimental model accounts for the effects of __________variables.

a. Extraneous

b. Dependent

c. Instrumental

d. Selection

e. Extortion

a. Extraneous

A retailer decides to reduce the price of a sport coat that normally costs $98. The reduction in price is $3. The storeowner believes that the reduction will catch the eye of the value shopper. If the sport coat does not sell, the retailer might wish to consider which of the following before making another price change?

a. Hermann's theorem

b. Packard's law

c. Sensory theory

d. Weber's law

e. Gestalt Theory

d. Weber's law

In ________ marketing, the seller engages in the mass distribution, and mass promotion of one product for all buyers, ignoring segmentation opportunities.

a. Group

b. Mass

c. General

d. Segmented

e. Differentiated

b. Mass

Procter & Gamble once had more than ten different brands of laundry detergent but now markets only six. This is an example of:

a. Downsizing

b. Diversification

c. Market contraction

d. Product development

e. a and c

a. Downsizing

Product differentiation strategies try to make a brand appear different from a competing brand, however the success of the strategy is:

a. The consumers' perceptions of the difference.

b. The segmentation of the products.

c. The advertising.

d. The choice of media.

e. b and d

a. The consumers' perceptions of the difference.

The act of obtaining a desired object from someone by offering something in return is known as:

a. Exchange

b. Consumption

c. Production

d. Promotion

e. Perception

a. Exchange

Schwinn Bicycle Company wants to grow by diversification. To accomplish this, Schwinn will:

a. Introduce new bicycle models.

b. Expand its consumer base to diverse geographic locations.

c. Introduce modifications to its existing bicycle products.

d. Identify new market segments for its current products.

e. Start up or acquire businesses outside of its current products and markets.

e. Start up or acquire businesses outside of its current products and markets.

What is the term used to describe the relationship a person might have with a product when that product becomes part of the person's daily routine?

a. Formative dependence

b. Nostalgic attachment

c. Interdependence

d. Love

e. Hedonic experience

c. Interdependence

Lucy recently purchased a lovely ceramic bowl that featured a red dragon design. When she thought about her purchase, she found that she really had no justification for buying the bowl other than it reminded her of the bowls her mother used during evening meals when she was a young child in Hong Kong. Which of the following types of relationships with a product would be the best explanation for Lucy's purchase of the dragon bowl?

a. Self-concept attachment

b. Nostalgic attachment

c. Functional dependence

d. Cohort attachment

e. Hedonic Experience

b. Nostalgic attachment

A(n) ________ approach assumes that very specific product attributes are linked at levels of increasing abstraction to terminal values, through the process of _________.

a. Goal-abstraction model, escalating

b. Means-end chain model, laddering

c. Goal-attainment model, laddering

d. Value dynamic, escalating

e. Goal-attainment model, escalating

b. Means-end chain model, laddering

Because the brain's capacity to process information is limited, consumers are very selective about what they pay attention to and tend to select stimuli that relates to their current needs. This process is called _________.

a. Perceptual defense

b. Perceptual vigilance

c. Perceptual attitude

d. Adaptation

e. Perceptual attention

b. Perceptual vigilance

________ is the process by which we select, organize, and interpret information inputs to create a meaningful picture of the world.

a. Consumption

b. Perception

c. Learning

d. Discrimination

e. Cognitive dissonance

b. Perception

If your firm was interested in learning which of two television advertising campaigns would be most effective, the company should conduct:

a. Ethnographic research

b. Observational research

c. Experimental research

d. Descriptive research

c. Experimental research

With respect to the sampling plan for a survey, three decisions must be made: (1) the sampling unit—who is to be surveyed; (2) sample size—how many people should be surveyed; and (3) ________.

a. Surveyor method— how does the surveying take place

b. Sample security—how to protect the sample data

c. Sampling procedure—how the respondents are chosen

d. Surveyor supervisor— who leads the sampling effort

e. Sample length - how long the survey will take

c. Sampling procedure—how the respondents are chosen

A ________ is a belief that some condition is preferable to its opposite.

a. Moral

b. Value

c. Need

d. Want

e. Value System

b. Value