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Mktg 301 Exam 2

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58.

_______ refers to buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation. ________ are ambassadors who share their passion for a company's products with large circles of friends and acquaintances in return for insider knowledge and other rewards. ________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others. ________ are society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors ________ calls for dividing the market into regions, states, counties, cities, or even neighborhoods ________ calls for meeting the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs. ________ consists of evaluating each market segment's attractiveness and selecting one or more market segments to enter A ________ consists of the activities an individual is expected to perform according to the people around him/her. ________ consumers are the most affluent U.S. demographic segment and are expected to have an annual buying power approaching $775 billion by 2015 ________ describes changes in an individual's behavior arising from experience. A ________ firm is one that, by operating in more than one country, gains marketing, production, research and development, and financial advantages that are not available to purely domestic competitors. ________ involves actually distinguishing the firm's market offering to create superior customer value

Systems selling

72.

________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. ________ involves persuading people to buy goods they had no thought of buying. ________ involves systematically developing networks of supplierpartners to ensure a dependable supply of products and materials for use in making products or reselling them to others. A ________ is a need that is sufficiently pressing to direct a person to seek satisfaction. ________ is a person's pattern of living as expressed in his/her psychographics, and it includes the individual's activities, interests, and opinions. ________ is more suited for products that vary in design. The ________ is specifically focused on future company needs ________ is the most basic determinant of a person's wants and behavior. ________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world ________ marketing is more suited for uniform products, such as grapefruit or steel. ________ means that consumers are likely to remember good points made about a brand they favor and forget good points made about competing brands. ________ positioning involves meeting consumers' lower performance or quality requirements at a much lower price. ________ refer to members of the buying organization who will actually use the purchased product or service

Market segmentation

6.

Brand evangelists

116.

High-pressure selling Supplier development

57.

44.

Opinion leaders

32.

motive

15.

Social classes

16.

Lifestyle

63.

Geographic segmentation Sustainable marketing

118.

74.

Differentiated marketing strategic planning concept Culture

114.

77.

Market targeting

8.

35.

role

26.

Perception

42.

Asian American

66.

Undifferentiated

7.

12.

Learning

Selective retention

110.

global

65.

Less for much less

53.

Users

75.

Differentiation

54.

________ refer to people in an organization's buying center who affect the buying decision; they often help define specifications and provide information for evaluating alternatives. The ________ refers to all the individuals and units that play a role in the purchase decision-making process ________ refers to how a company will create differentiated value for targeted segments and what positions it wants to occupy in those segments. ________ refers to qualitative research designed to probe consumers' hidden, subconscious motivations. ________ refers to the unique psychological characteristics that distinguish an individual or group A ________ refers to the way a product is defined by consumers on important attributesthe place the product occupies in consumers' minds relative to competing products. ________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation. ________ segmentation has long been used in clothing, cosmetics, toiletries, and magazines ________ shows consumer perceptions of a company's brands versus competing products on important buying dimensions. "To busy multitaskers who need help remembering things, Evernote is a digital content management application that makes it easy to capture and remember moments and ideas from your everyday life using your computer, phone, tablet, and the Web." This is an example of a(n) ________. According to Freud, a person's buying decisions are primarily affected by ________ According to the model of buyer behavior, which of the following is one of the two primary parts of a "buyer's black box"?

Influencers

36.

All the individuals and households that buy or acquire goods and services for personal consumption make up the ________. Apex describes its clothing line as, "Elegance and attitude, now as one. For the daily office-goer, who takes pride in what he or she wears everyday, Apex makes sure you get noticed." This exemplifies a ________. Aspirational groups

consumer market

79.

59.

buying center

positioning statement

70.

Value proposition
1.

28.

Motivation research Personality

4.

93.

product position

are groups to which an individual wishes to belong, as when a young basketball player hopes to play someday for the Los Angeles Lakers. derived

49.

86.

Demographic
50.

Business demand that ultimately comes from the demand for consumer goods is known as ________ demand Business markets are similar to consumer markets in that ________.

89.

Gender

68.

Perceptual positioning maps positioning statement

both involve people who assume buying roles and make purchase decisions to satisfy needs personal characteristics

3.

82.

A buyer's decisions are influenced by ________ such as the buyer's age and life-cycle stage, occupation, economic situation, lifestyle, personality, and selfconcept. A catalog retailer in the United States has identified African American professionals between the ages of 35 and 45 as a group of potential customers for its products. The retailer plans to direct its marketing efforts toward this group of consumers. Which of the following market segmentation variables was most likely used by the catalog retailer?

71.

demographic

39.

subconscious

40.

buyer's decision process

91.

Chronos Inc. designs and markets different brands of cycling watches. Each brand has a single unique feature: the Chronos Cosmos has a heart rate monitor, the Chronos Acumen is designed for older cyclists who prefer a large display, and the Chronos Aegis has a GPS function. Which of the following is evident here? Companies that use brand ambassadors are most likely involved in ________ marketing. A company selling child care products ran a television ad depicting women as being primarily responsible for child care. Many women viewers considered this regressive alleging that the ad failed to recognize the much more diversified role of women in today's world. This is an example of ________. Consumer information provider PersonicX uses a life-stage segmentation system that places U.S. households into one of 21 different lifestage groups. According to PersonicX's groups, which of the following refers to the group consisting of young, energetic, well-funded couples and young families who are busy with their careers, social lives, and active recreation? Consumers who show their allegiance to brands, stores, or companies help marketers to segment consumers by their ________. Critics argue that large marketing companies use patents and heavy promotion spending to ________. Critics charge that promotion adds only ________ to the product. Deceptive promotion includes practices such as misrepresenting the product's ________. The decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands is known as ________. Each culture contains smaller ________, or groups of people with shared value systems based on common life experiences and situations

product differentiation

101.

Economic communities are also known as ________. Even when competing offers look the same, buyers may perceive a difference based on ________ differentiation. Facebook and Second Life are both examples of ________. Family is one of the ________ factors that influence consumer behavior Ferrari sports cars claim superior quality, performance, and style. Ferrari provides "perfection" at a premium price to keep its brand image intact. Which type of value proposition does Ferrari most likely position its products with? Firms that stay at home to play it safe ________. Formed in 1957, the ________ set out to create a single European market by reducing barriers to the free flow of products, services, finances, and labor among member countries and developing policies on trade with nonmember nations. The full mix of benefits on which a brand is differentiated and positioned is known as the brand's ________. Growing Green, a U.S. company that markets organic and environmentally friendly gardening and landscaping supplies and equipment, wants to expand the business internationally. Growing Green managers are currently examining the rules imposed by the WTO and the agreements made by NAFTA and the EU. In which stage of the international marketing process is Growing Green? Harvey's Bookstore is a popular online bookstore that has differentiated itself through smooth-functioning delivery networks. This is an example of ________. In business markets with inelastic demand ________.

free trade zones image

97.

18.

social networks social more for more

2.

33.

buzz
69.

88.

stereotyping

103.

risk losing their home markets European union

17.

Taking Hold

108.

96.

value proposition looking at the global marketing environment

64.

degree of loyalty

105.

113.

bar new companies from entering an industry psychological value features or performance business buying process
78.

117.

119.

channel differentiation

60.

61.

19.

subcultures

the total demand for products is not much affected by short-term price changes

80.

In the context of behavioral segmentation, markets segmented by ________ can be categorized into light, medium, and heavy product users. In the context of the AIO dimensions for measuring consumers' lifestyles, "A" stands for ________ In the model of buyer behavior, which of the following is NOT a major type of force or event in the buyer's environment? The Jay Group hires better employees than its competition by conducting effective searches and multi-tiered interviews. The company also provides high quality training to its employees, an aspect often neglected by competitors. The Jay Group is most likely to gain a strong competitive advantage through which type of differentiation? Kinger Auto specializes in selling lowquality used vehicles that are priced a good deal lower than other used cars. Which of the following value propositions is evident here? A major step in regulating "unfair or deceptive business acts and practices" was the enactment of the ________ in 1938. Many companies use several ethnically specific themes in their mainstream marketing strategy. This is because several marketers have realized that insights gleaned from ethnic consumers can influence their broader markets. This type of marketing is known as ________. Many marketers use the self-concept premise that people's possessions contribute to and reflect their identities that is, "we are what we consume." According to this premise, consumers ________. A marketer wanting to determine business buyer behavior is most likely to ask which of the following questions? The marketing concept is a philosophy of ________.

usage rate

46.

A marketing research company asked members of a focus group to describe several brands as animals. This is an example of ________. Marketing stimuli consist of the four Ps. Which of the following is NOT one of these? Maslow's theory is that ________ can be arranged in a hierarchy Opinion leaders are also referred to as ________ The owners of a manufacturing firm in Ohio have developed a core network of suppliers to ensure an uninterrupted supply of products. This is an example of ________. People cannot focus on all of the stimuli that surround them each day. A person's tendency to screen out most of the information to which he is exposed is called ________. Perry's Mart, a grocery store in New Orleans, Louisiana, offers less merchandise selection and fairly low levels of service. Despite the lackluster service and limited selection of merchandise, customers still flock to Perry's because it charges rock-bottom prices. Perry's Mart most likely uses the ________ positioning. A person's buying choices are influenced by four major psychological factors. Which of the following is NOT one of these factors? The Pure Drug Company produces insulin, a product with a very stable demand. Even though the price changed several times in the past two years, the demand for Pure Drug's insulin remained relatively unaffected. In this instance, the demand for insulin is representative of ________ demand. Recently, a class-action lawsuit was brought against BigBurger, a fast food chain, charging that its food has contributed to the nationwide obesity epidemic. The suit was eventually dismissed, but many critics continue to point out the health dangers of typical "fast food" menu items. These critics are most likely concerned that the fast food industry has used ________.

interpretive consumer research packaging

13.

activities

25.

31.

political

24.

human needs influentials supplier development

14.

85.

people differentiation

51.

37.

selective attention

81.

less for much less

84.

less for much less

112.

Wheeler-Lea Act

11.

cross-cultural marketing

30.

association

52.

inelastic

38.

buy products to support their selfimages


115.

47.

What are the major influences on buyers? customer value and mutual gain

harmful products

111.

5.

Shoez Inc., a manufacturer of shoes, has recently launched a brand of sturdy shoes ideal for hiking and other outdoor activities. Which of the following brand personalities could be best associated with the new brand? Sigma Inc., a software firm based in California, reordered 50 printers from the designated provider without any modifications. This is an example of ________. Solutions selling ________

ruggedness

22.

Which of the following best describes divisibility of an innovation that influences the rate of adoption? Which of the following characterizes U.S. companies in the past? Which of the following is a marketing stimuli? Which of the following is a risk associated with international trade? Which of the following is an environmental factor that influences business buyers? Which of the following is characteristic of online social networks? Which of the following is most likely to be the consequence of increase in growth of global trade? Which of the following is NOT part of Maslow's hierarchy of needs? Which of the following is one of the other stimuli present in a buyer's environment apart from a marketing stimuli? Which of the following is true about business purchases?

It is the degree to which the innovation may be tried on a limited basis. The home market was much safer than the foreign market. price stimuli highly unstable governments supply of key materials

104.

55.

a straight rebuy

10.

106.

62.

is often a key business marketing strategy for winning and holding accounts same for less image

56.

29.

user-controlled content

109. 73.

Stores such as Walmart, Best Buy, PetSmart, David's Bridal, and DSW Shoes use ________ positioning. Symbols such as the McDonald's golden arches, the colorful Google logo, the Nike swoosh, or Apple's "bite mark" logo provide strong company or brand recognition and are indicative of ________ differentiation. Through ________ differentiation, brands can be differentiated on features, performance, or style and design. To the extent that a company can differentiate and position itself as providing superior customer value, it gains ________ What is the most important consumer buying organization in society? When it first opened stores across the United States, Bateman's, an office supply chain store, had the best product selection, the best service, and the lowest prices compared to other office supply chain stores. As a result, Bateman's captured a significant chunk of the market in the short run. Which of the following positioning strategies did Bateman's most likely use? Which consumer group tends to show more brand loyalty and make shopping a family event, with children having a big say in the purchase decision?

Foreign firms expand aggressively into new international markets. spiritual needs

90.

34.

43.

cultural stimuli

83.

product
48.

76.

competitive advantage Which of the following is true with regard to the same for less value proposition?

Business purchases involve more professional purchasing effort than consumer purchases. Offering the same for less can be a powerful value proposition because everyone likes a good deal. deciding which markets to enter

87. 23.

family more for less


99.

98.

Which of the following major decisions should be taken by a company immediately after it decides to operate internationally? Which of the following marketing strategies is most suitable for smaller firms with limited resources?

95.

niche marketing

41.

Hispanic Americans

27.

Which of the following product characteristics refers to the degree to which the innovation appears superior to existing products? Which of the following statements is true of cultural factors that influence consumer behavior?

relative advantage

67.

9.

Social classes show distinct product and brand preferences in areas such as clothing and travel. People within a social class tend to exhibit similar buying behavior. Social classes show distinct product preferences in clothing and automobiles. positioning statement

While Jenkins Stationeries was selling branded stationery at premium prices, Pembroke Stationeries, a store across the street, was selling the same branded stationery at discount prices. Which of the following value propositions best describes Pembroke's product positioning? The winning value proposition would be to offer ________.

same for less

92.

more for less

45.

Which of the following statements is true of social classes?

20.

Which of the following statements is true regarding social classes in the United States?

94.

Which of the following states the product's membership in a category and then shows its point of difference from other members of the category? Which of the following terms refers to a specific mix of human traits that may be attributed to a particular brand? Which of the following terms refers to a tax levied by a foreign government against certain imported products? Which of the following was designed to help foster trade between nations? Which question should most likely be answered by all companies due to the rapid move toward globalization?

21.

brand personality

107.

tariff

102.

GATT

100.

Where should we produce or source our products?

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