MAR3023 - Exam 2 Practice Questions

After a bad storm in Tallahassee, Sarah has a leak in her roof. Sarah makes a list of different roofing companies she can think of. This is an example of which stage of the consumer buying decision process?

Information Search

Checking the ratings of various Marketing professors before deciding on which section to enroll in is an example of

External Information Search

In order to compete with Burger King and local chains, McDonald's has recently begun accepting reservations at some locations in Sweden. This form of modifying products and services in a foreign market is known as ______.

Adaptation

When checking out at Publix, Jason made an impulse buy of a pack of gum. He made no conscious effort to choose from the different brands and flavors, but just grabbed the gum that he always gets. What kind of decision was this?

Routinized/Habitual

When Mercedes dropped from the #1 German luxury car to #3, they responded by creating the cheaper, smaller B-Class. This product is not typical of the luxury cars they usually offer. Their hope was to attract a new, younger market segment who could now afford the brand, and would become immersed in the buying cycle. This is an example of:

Repositioning

If a certain country considered handshakes in business transactions to be taboo and preferred to use nodding, this would be an example of differences in _____ forces.

Sociocultural

Taco Bell in Europe has the "Taco Bell Cantina" product line where they offer beer and wine as well as twisted freezes that contain liquor. This is likely due to differences in culture seeing as most of Europe has a younger drinking age than we have in the US. Changing menu items to fit local tastes is an example of:

Adaptation

Executives at Coca Cola review their sales data from 2014 to estimate the amount of soda products they will sell Florida State University's campus for the fall of 2015. This is an example of:

Sales Forecasting

Kix cereal is aimed at mothers with children under age twelve. These mothers represent Kix's:

Target Market

On a random Saturday Madison Social asks 10 customers how likely they are to recommend Madison Social to a friend. 5 customers are promotors and would be happy to recommend Madison Social. 4 customers are passive and wouldn't recommend the restaurant, but wouldn't say negative things about it either. 1 customer, however, is a detractor and would not recommend Madison Social to a friend. From this information what is Madison Social's Net Promotor Score?

40%

Brendan and his girlfriend Lindsy traveled to Egypt and, while they were there, they found a pair of True Religion jeans that cost $39. The jeans normally retail in the U.S. for $109. Being good capitalists, they decided to buy all the store had in stock - 30 pairs - and ship them back to the states for resale at their University in Florida. The practice described in the passage above is called ______and it is ________:

gray marketing ; legal

You have been asked to participate for a focus group about a new comedy movie. What type of market research is this?

Exploratory

The BRICS countries are forcing many market changes. Which of the following countries is not a part of BRICS?

Canada

Lucky Goat Coffee is about to introduce a new drink that is called the High Climbing Goat. This drink is high in caffeine and also high calories. However, Lucky Goat's largest and most profitable segment of consumers prefer high caffeine, low calorie coffee. Which of the following is the best course of action for Lucky Goat?

Reposition by changing the ingredients for the High Climbing Goat so that it is high in caffeine but low in calories

Products that predominantly display orange packaging sell better in the fall than similar products that have a different color scheme. This is an example of _____________.

Situational Influence

A furniture company that makes its marketing program elements uniform, targeting an entire region with similar products, is demonstrating which of the following?

Standardization

Which of the following is an important reason why market research is more important and useful right now then ever before?

The availability of big data

Rachel was once an exchange student in Finland. She remembers that the McDonalds in Finland served a unique burger called the Ruis McFeast which was served on a rye bun. Adding this menu item would align with which strategy?

Adaption

When consumers buy a product like a candy bar, they have numerous options from which to choose. To help them in their decision, they often keep in mind a small group of, say, 4 or 5 candy bars. This smaller group is called:

The consideration or evoked set

When the Army is marketing in an attempt to recruit soldiers, they use slogans such as, "Army Strong" and "Be all that you can be," implying that people can reach their full personal potential in the U.S. Army. This is an appeal to what need according to Maslow's hierarchy of needs?

Self-actualization

Adidas analyzed the shoe market and found that there were four distinct groups of people who purchased shoes. Runners, walkers, weightlifters, and sneaker-heads. This concept in marketing is called _______.

Segmentation

When Jeff purchases gum at the convenience store he always chooses between Trident, Doublemint, or Orbit. He does not think about purchasing any other choices (i.e., Juicy Fruit, Ice Breakers, Extra, 5 Gum, etc.). The 3 brands of gum that Jeff selects from is in his:

Consideration Set

Patagonia sends a survey to 100 customers asking them how likely they are to recommend Patagonia outerwear to a friend on a scale from 0 to 10. 75 customers are promotors, 15 are passive, and 10 are detractors. What is Patagonia's Net Promotor Score?

65%

Rachel sees an ad for a website where she can put her dog Beau's face on all sorts of products such as socks, blankets, pillows, and coffee cups. The website is using which type of segmenting strategy?

Mass Customization

A student decided to go to UF as a senior in high school. The student got a sinking feeling in her stomach about whether she made the right choice. She wondered, "Should I have selected FSU? FSU is a top 20 public university now." What is the formal term for the sinking feeling she got after choosing, obviously, the wrong school?

Cognitive Dissonance

The most basic (i.e., lowest) level of needs in Maslow's hierarchy that need to be addressed first is

Physiological

Why would a company use an undifferentiated strategy?

The needs of individual consumers in the target market for a specific product are similar, so the organization can satisfy most customers with a single marketing mix

On the last day of puppy class a PetCo instructor asks each participant if they would recommend the course to a friend on a scale from 0 to 10. 7 participants respond with a 10, implying that they are very likely to tell others positive things about the course. These 7 participants would be considered....

Promoters

Volkswagen is determining which advertising message is most effective at improving its reputation among consumers. After extensive research, they have three different options. They ask three groups of consumers to each watch one of the three advertisements. They then give each group a survey and ask, "On a scale from 1-7, how much do you like Volkswagen after watching this ad?" Using the data collected, they run some statistical analysis afterwards to conclude which advertisement is most effective. What type of research design would this be considered?

Experimental Research

McDonald's sells McLobster Rolls only in the New England market whereas it sells the McRib sandwich here in Tallahassee. This scenario is a good example of

Geographic Segmentation

All of the following are examples of applied research questions except:

How does cyber security affect how consumers bank with Bank of America?

Would the introduction of a no fat cheese be successful for Kraft Foods?

What types of anti-smoking campaigns result in reduced smoking in teenagers?

Does an increase in online advertisements lead to an increase in in-store sales for Starbucks?

What types of anti-smoking campaigns result in reduced smoking in teenagers?

France is known for producing high quality wines, so when Preston was ordering a bottle at dinner to celebrate a new promotion he limited his choices to only ones that were produced there. This technique of using mental rules of thumb to make speedy decisions is known as ___________.

Heuristics

Buying a pack of Wrigley's Extra gum is a purchase that is characterized by low cost and little risk. This purchase is therefore ______ involvement and ________ decision making:

low ; habitual or routinized

Adaptation is most appropriate in countries with which of the following characteristics?

Unique cultural preferences

Which of the following best represents a Psychographic segmentation base?

One-hour energy. shot promotes their product to people with busy lifestyles

The Coca-Cola "Freestyle" drink fountain allows for you to mix different Coca-Cola products and add a variety of flavors. Information about what combinations are being made is transferred to the company so they can see what blends are made. By collecting the data, Coca-Cola is engaging in...

Market Research

The professor evaluations on RateMyProfessors.com are examples of information used in _____________ information search.

external

Publix is attempting to determine if there is a statical relationship between the number of coupons they offer in the Sunday newspaper (x) and the amount of sales in its stores (y)..... To do this Publix should use a

Regression Analysis

Some entrepreneurs residing in the U.S., buy products made by Coach, Swarovski, Ray Ban, etc. and export them to countries where the suggested retail is higher than the retail that these entrepreneurs pay. They then make a profit on the margin. This is an example of

Grey Marketing

For the Table Restaurant Group (owner of Township, Madison Social, Centrale, and SoDough Baking Co.) wants to gather more data about their target market. They reach out to a Google representative and purchase demographic and psychographic data about the Tallahassee residents living within 5 miles of Florida State University. This data was gathered by Google originally, but is going to be used by For the Table for a different purpose. What type of data would this be considered?

Secondary Data

Which of the following is an example of a product or service which is likely to benefit from standardization?

Airplanes

When expanding into a global market, firms should consider what is most important to them, cutting costs or satisfying customer needs as best as possible. If cost cutting is a focus, the firm should engage in __________. If meeting customer needs as best as possible is the focus, the firm should engage in __________.

standardization ; adaptation

Millennials are synonymous with which of the following generations:

Generation Y

When expanding into a foreign market, good marketers will:

- Understand the culture of the people in the foreign market

- Understand the history of the country in which the foreign market resides

- Understand connotative differences in language when translating marketing communications

- Understand literal differences in language when translating marketing communications

- All of the above

- All of the above

When it comes to purchasing a watch Jennifer assumes that the more expensive a watch is, the higher quality it is. This fact may or may not be true, but Jennifer uses this rule of thumb to guide her product selection. This rule of thumb is an example of a what?

Heuristic

Rachel needs a new pair of tennis shoes because her puppy Beau ate her old ones. When she goes to Target to buy a new pair of shoes Rachel will most likely engage in which of the following?

Limited Problem Solving

In Guatemala it is not unusual for business owners who want to build new factories to provide cash payments to local officials and give them and their families gifts. This is an example of:

Ethical and social responsibility forces

The most basic (i.e., lowest) level of needs in Maslow's hierarchy that need to be addressed first is:

Physiological

A market research firm has been hired to determine if Lime A Ritas would be a successful extension for Budweiser. They ask individuals to fill out surveys asking if they would purchase this beverage and hold focus groups to determine if consumers enjoy the concept, taste, and packaging. This is an example of collecting:

Primary Data

Hilary is looking to buy a new cell phone. In order to make a good decision she reads online reviews that compare the apple iPhone and Samsung galaxy. Additionally, her friend Kyle is considered a technology expert, so she asks his opinion as well. In this example, Hilary is conducting which of the following?

External Search

Imagine you wanted to use the American Customer Satisfaction Index data for a school project on the hotel industry. In this case, the ACSI data are best described as:

secondary data

Dr. Pepper recently released a variation of their product branded as Dr. Pepper TEN. Their tag line is "It's not for women". This is an example of segmentation based upon ___________ characteristics.

Demographic

The Jitterbug cellphone was developed as a flip phone for people who have trouble seeing and are not technologically savvy. Jitterbug targeting of the elderly population with the Jitterbug cell phone is an example of which of the following segmentation bases?

Demographic