Exam One for Marketing

To be an organization’s market, it is not enough for a customer just to want a product because it would satisfy unmet needs; a customer must also have…
the ability to buy, financially and otherwise.
Goods, services, and ideas can all be considered_____in the right circumstances, when consumers exchange something of value for them to satisfy their needs.
Products
For marketing to occur, parties must have which two of these?
A way to communicate and both the desire and ability to satisfy their needs
A(an) ______ market is a specific group of potential customers toward which an organization directs its marketing program.
Target
What is required of effective market segments?
Buyers will respond similarly to a marketing action and buyers have common needs
Marketing attempts to satisfy consumer needs but clearly also shapes a person’s _____, because it may impact knowledge or even culture.
wants
If you develop a desire for a product that does not exist yet in the marketplace, this would be considered an unsatisfied _____, one of the conditions required for marketing to occur.
need
Marketing creates four types of ______: form, place, time, and possession.
Utility
The unique combination of benefits received by target buyers at a specific price is known as
Customer value
To effective segment a market, you should ensure that the segments are relatively ______, at least in terms of prospective buyers’ needs and response to marketing.
Homogeneous
Ultimate consumers
use goods and services purchased for a household
The hallmark of developing and maintaining effective customer relationships is called ______ marketing.
Relationship marketing
Which two of the following are required of effective market segments?
Buyers have common needs and buyers will respond similarly to a marketing action
A marketing mix that is _____ to provide a good, service, or idea to prospective buyers is known as a marketing program.
integrated
Is the part of the marketing mix that communicates the value of the product to the consumer in many ways, such as advertising, social media, and public relations.
Promotion
A market orientation requires firms to create customer value through
collecting information about customer needs
When a consumer gives money or something else of value for something he she values, this is called a(an)
exchange
The societal marketing concept combines which two of the following principles?
organizations should serve customers in a way that provides for society’s well-being and organizations should satisfy the needs of consumers
The four Ps, or marketing mix are the _____ set of activities that a firm uses to respond to the needs of its target market.
controllable
____ is one of the elements of the four Ps that embodies all activities essential to get the product to the right customer when and where that customer wants it.
place
Who benefits from effective marketing?
consumers who buy, organizations who sell, society as a whole
Customer value is the unique combination of benefits received by targeted buyers
at a specific price
In the context of customer value, which of the following are considered benefits?
after-sale service, convenience, quality
A brief statement that sums up how a business satisfies customer needs is termed a
customer value proposition
_______ consumers, in contrast with organizational buyers, are the people who use products and services purchased for a household.
Ultimate
Customer ______ reflects the relationship of benefits to price, or what you get for what you give.
Which two of the following are characteristic of the marketing concept era?
Product design focused on consumers’ needs and marketing was integrated into each phase of business
A customer value proposition is
a cluster of benefits that an organization promises customer to satisfy their needs
______ consumers, in contrast with organizational buyers, are the people who use products and services purchased for a household
Ultimate consumers
A marketing dashboard is
is the visual computer display of the essential information related to achieving a marketing objective
What does the acronym “SWOT” stand for?
Strengths and weaknesses and its external opportunities and threats
A statement of an accomplishment of a task to be achieved, often by a specific time, is known as a(n) ____.
Goals
Place the following levels of organization in order with the lowest level on the bottom.
1. Corporate level
2. Strategic business unit level
3. Functional level
A ____ statement describes an organization’s function in society and often identifies its customers and products.
Mission
True or false: An organization’s core values typically do not change much over time.
True
Dogs
1. May generate enough cash to sustain themselves but are not considered current or future winners
2. low relative market share, low market growth rate
Cash Cows
1. Generate large amounts of cash which can be invested in other SBUs.
2. High relative market share, low market growth rate
Question marks
1. Require cash to maintain market share, even though that share is small.
2. low relative market share, high market growth rate
Stars
1. Require cash to sustain rapid growth but will likely generate cash when growth slows
2. High relative market share, high market growth rate
Which of the following are true of portfolio analysis?
Firms typically perform is as the SBU or product line level of the firm and management evaluates the firm’s various products and businesses.
Step 1 of the planning phase in the strategic marketing process involves which of the following?
Performing a situation analysis using SWOT
A visionary organization’s core values, ____, and organizational culture make up its foundation.
Mission
Which two of the following are the elements that define an organization’s direction
1. The business it is in
2. Specific goals
Organization ____ is made up of ideas and behaviors that are clearly communicated to employees and other stakeholders.
Culture
in searching for growth opportunities, organizations using diversification analysis consider both current and new options for which of the following?
Product and market
The marketing department is part of the ____ level, in term of strategy within an organization.
Functional
An organization sets its ____ in terms of the business it is in and its specific goals.
Direction
Obtaining resources and developing planning schedules are part of which phase in the strategic marketing process?
Implementation
Which of the following are the three phases of the strategic marketing process?
Planning, Evaluation, Implementation
Which of the following are the three levels of strategy in organizations?
Board of directors, Corporate, and Strategic business-unit
Which two techniques aid in decisions about where an organization wants to go?
1. business portfolio analysis
2. diversification analysis
What is the final step in the planning phase of the strategic marketing process?
The marketing program
The clear, broad, underlying industry category or market sector of an organization’s offering defines its
Business
Which of the following are true regarding market share?
1. is the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.
2. It may need to be increased, even at the expense of profit, if industry status or prestige is at stake.
3. It is the percentage of sales of an industry accounted for by a specific firm.
For an organization, ____ may vary both by level and by offering.
Strategies
SWOT analysis with specific business action
-strength….build on it
-weakness… correct it
-opportunity…exploit it
-threat…avoid it
The corporate level is where top management directs overall ____ for the entire organization.
Strategy
A marketing metric is a ____ of the quantitative value or trend of a marketing activity or result.
measure
An organization whose primary organizational goal is operational efficiency or client satisfaction would be classified as a(an)
Nonprofit organization
What is part of the implementation phase of the strategic marketing process?
1. Obtaining resources
2. Designing the marketing organization
3. defining precise tasks, responsibilities, and deadlines
4. actually executing the marketing program in the planning phase
Points of ____ are characteristics of a product that make it superior to competitive substitutes.
Difference
What an appropriate response when a deviation is identified in the evaluation phase of the strategic marketing process?
1. Correct a negative deviation
2. Exploit a positive deviation
To set a strategic direction an organization needs to answer two difficult questions…
1. Where are we now?
2. Where do we want to go?
Where are we now?
involves identifying its competencies, customers, and competitors.
An organization’s core ____ are its special capabilities, including skills, technologies, and resources that distinguish it from other organizations and provide value to its customers.
competencies
The planning gap is an example of
a deviation that should be identified and acted upon
Which of the following are part of the implementation phase of the strategic marketing process?
1. Obtaining resources
2. Designing the marketing organization
A marketing ____ is the means by which a marketing goal is to be achieved whereas marketing ____ are detailed day-to-day operational decisions essential to the success of the former.
1. Strategy

2. tactics

When an organization’s core competency is distinctive enough in comparison to others in the industry, it may provide a(an) ____ advantage.
competitive
Among the four growth opportunities in diversification analysis, which is the most risky?
Diversification
A marketing ____ is a road map for the marketing actions of an organization for a specific future time period.
Plan
Organizations that develop similar offerings, when grouped together, create a(an)
Industry
Obtaining resources and developing planning schedules are part of which phase in the strategic marketing process?
Implementation
Which of the following are true regarding SBU?
1. Firms with a single business focus may not have SBUs
2. It stands for “strategic business unit”
3. Managers of an SBU set specific strategic direction
Having a large U.S market share is an example of a(n) ____ for an organization.
Strength
For an organization performing a SWOT analysis, a threat is which of the following?
external and unfavorable
To what does “opportunity” refer in SWOT analysis?
Favorable aspects of the external environment
The BCG Business Portfolio Analysis
1. Requires calculations of market growth rate and relative market share.
2. Is applied by classifying a firm’s products or services into a four quadrant matrix.
3. helps firms determine whether they should withdraw resources from and eventually phase out products.
A strategy
Is an organization’s long-term course of action allowing it to achieve its goals
The primary difference between a business firm and a nonprofit organization is that a
business serves its customers in order to earn a profit
Businesses can pursue several different types of ____ that they would like to achieve, such as those pertaining to market share, quality, or customer satisfaction.
goals
International expansion generally is riskier than domestic expansion because of which of the following?
1. Language differences
2. Cultural traditions
3. Differences in government regulations
A market penetration strategy, as one of the possible growth opportunities, may be achieved by which of the following?
Encouraging current customers to spend more on the brand
Which of the following are true regarding market share?
1. It is the percentage of sales of an industry accounted for by a specific firm.
2. It may need to be increased, even at the expense of profit, if industry status or prestige is at stake.
Inexperienced managers would be considered what in a SWOT analysis?
A weakness
The ____ strategy offers a new product or service to a firm’s existing market
Product development
True or false: The best strategy for an organization is to determine how to be all things to all people.
False
Which of the following is a job title for the head of the marketing in a large organization?
Chief marketing officer
The marketing department can keep the organization focused on creating value both for it and for customers by
Looking outward
In defining one’s business, avoid a(n) ____ definition that is not focused on customer ____.
Narrow; needs
Which of the following is often a trigger for an organization to rethink its business model?
Technological innovation
A small group of people from different departments who are mutually accountable to accomplish a task or common goals is known as a(n)
Cross-functional team
Recently, organizations such as Ben and Jerry’s have added an element to their mission statements to reflect what?
An ideal that is morally right and worthwhile
Which of the following describes a typical pathway for an SBU through the four quadrants of the BCG business portfolio analysis?
An SBU starts as a question mark and proceeds counterclockwise around the quadrants.
Market development is a strategy to sell ____ products to new markets.
existing
The ____ is the difference between the projection of the path to reach a new sales revenue goal and the projection of the path of plan already in place.
Planning gap
Growing demand for one’s product in an overseas market is a(n) ____ for an organization.
opportunity
____ is the ratio of sales revenue of the firm to total sales in the industry, including the firm itself.
Market share
A market ____ growth strategy focuses on increasing sales of the firm’s current products to its current target markets.
penetration
Which of the following is true of an organization’s core values?
They should inspire and motivate employees to take production actions
Market segmentation is most essential for what part of the planning phase of the strategic marketing process?
Market-product focus
A market penetration strategy attempts to increase sales of present products among
existing customers
____ refer to the favorable internal attributes of the firm.
Strengths
Organizational strategies can vary by ____, with top managers creating a mission statement and functional employees creating a script for a sales call.
level
In a SWOT analysis, a weakness is an unfavorable characteristic that is ____ to the organization.
Internal
Which of the following is essential to recognize when determining organizational strategy?
An organization has limited resources which must be focused on achieving goals.
Which of the following is a job title for the head of marketing in a large organization?
Chief marketing officer
A small group of people from different departments who are mutually accountable to accomplish task or common goals is known as a(n)
cross-functional team
Chapter 3
Which of the following forces is most likely to result in replacement of existing product or companies?
Technology
The five environmental forces that can affect an organization, its suppliers, and its customers.
Social, economic, technological, competitive, regulatory
Which two ethnic groups are expected to experience the largest population growth in the United States by 2025?
Hispanic and Asian
Which two of the following laws forbid monopolies or other actions that cause restraint in trade?
1. The Sherman Antitrust Act
2. The Clayton Act
The Consumer Product Safety Act and the resulting Consumer Product Safety Commission came about because of a grassroots movement called
Consumerism
The ____ is one of five components of an environmental scan because businesses are impacted by forces such as inflation, productivity, and consumer income.
economy
Describing a population with characteristics like age, gender, ethnicity, and income is referred to as
demographics
Which of the following environmental forces refers to the alternative firms that could provide product to satisfy a specific market’s needs?
competition
Which of the following characteristics, when shared, help to define culture?
Values, Attitudes, Ideas
When an industry attempts to police itself with guidelines for practice, this may help that industry to avoid government interferences. This idea is known as self-_____.
regulation
The Generation Y cohort is also sometimes called which two of the following
The echo-boomers
____ is one of the states that has seen a decline in population, according to the most recent census.
Michigan
An environmental scan will include ____ forces impacting a business by way of state and federal laws that may restrict its activities.
regulatory
Baby Boomers are those people born between the years
1946 and 1964
Which of the following are amount the goals of environmental scanning?
1. Interpreting and Identifying trends
2. Continually acquiring information on external events
____ consciousness is the concern for obtaining the best quality, features, and performance of a product or service for a given price.
Value
Which of the following generational cohorts consists of people born between 1965 and 1976?
Generation X
Consumer income is a ____ trend that is important to marketers.
Microeconomic
The FTC might issue a cease and desist order due to which two of the following practices?
1. Advertising that misrepresents the actual features or benefits of a product
2. A retouched advertising that makes the product appear more pure than it actually is.
Which of these generational cohorts represents the most recent period of increasing births?
Generation Y
Consumers who are increasingly switching media in search of short, engaging messages is an example of a(n) ____ force.
social
The demographic characteristics of a population and its ____ comprise the social forces in the environment.
culture
Recently, mobile phone makers have introduced phones with large easy to read buttons to tap into the growing market of ____.
Seniors
Which of the following are considered demographics?
1. Age and gender
2. Occupation and income
3. Ethnicity and race
Two macroeconomic factors?
1. gross domestic product
2. inflation
____ technology is likely to move from the movie theater and TV to many new and useful applications.
3D
Disposable income is the money a consumer has after paying
taxes
The changing attitudes and ____ of men and women in the marketplace is one of the most notable cultural changes in the United States in the past 30 years.
roles
Which of the following family and living arrangements are increasing in the United States?
1. Households with an adult child living with parents
2. Households with unmarried partners
Which two situations exemplify illegal situations under the Clayton Act?
1. A dominant seller imposing conditions such forcing the purchase of one product in order to buy another.
2. A powerful seller requiring all its distributors to only sell its products.
Retirement housing is most likely to appeal to which generation?
Baby boomers
An information- and communication-based electronic exchange environment occupied by computer technologies and digitized offerings is called
marketspace
What are some characteristics of generation X?
1. born between 1965-1976
2. Supportive of racial and ethnic diversity
The total amount of money made in one year by a person, household, or family unit is referred to as
gross income
The Sherman Act exerts legal influence on which component of the marketing mix?
Price
Environmental scanning is necessary for an organization to
Interpret trends that may be a source of opportunity
Baby boomers, Generation X, and Generation Y are examples of what?
Generational cohorts
The presence of a stepparent or stepchildren indicate what type of household?
blended family
Which of two of these approaches can be most useful when trying to reach the female market for a traditionally male-focused product?
1. Create products with fewer gender distinctions
2. Engage female customers with special promotions
Legislation that allows companies to protect themselves from competition copying their property include both
the patent law and the copyright law
____ is predicted to have the world’s largest population by 2050.
India
What are some characteristics of Generation Y?
1. They are passionate about the environment
2. They are interested in sustainability
3. They are attracted to purposeful work
Capital requirements, advertising expenditures, distribution access, and switching costs for customers can all act as ____ in the competitive
barriers to entry
Which of the following are examples of past government legislation deigned to protect the consumer?
Prohibition of monopolies and prohibition of unsafe products
The money one has left from earnings after paying for taxes and necessities is called
discretionary income
The majority of the competitive landscape in this country is made up of
small businesses
In a competitive context, which two of the following will contribute to the power of buyers?
1. There are few buyers
2. There are low switching costs
Because of the multitude of racial and ethnic identities in the U.S consumer base, which of the following is necessary for successful multicultural marketing?
In-depth marketing research
Technology is causing a change in the customer assessment of value because its cost is plummeting resulting in
consumers focusing instead on quality, service, and relationships with the retailer
Inflation may harm marketers when
prices rise faster than consumers incomes
Electronic commerce is defined as
Electronic communication used in the inventory, exchange, advertisement, distribution, or payment of products.
Which generational cohort was born during 1946 and 1964
Baby Boomers
It can be difficult to define discretionary versus disposable income because
It is hard to determine what is a luxury and what is a necessity.
Which of the following is a characteristic of Hispanics in the U.S population?
Hispanics will soon spend approximately 1.3 trillion dollars a year.
Baby boomers would be least likely to purchase which of the following products or services?
High-risk investments
Using technology for the development of new products creates ____ for customers.
value
What are some characteristics of Generation Y?
1. They are attracted to purposeful work
2. They are interested in sustainability
3. They are passionate about the environment
By the year 2015, ____ will be the largest U.S minority group in terms of spending.
Hispanics
The agency monitoring the American population profile is called
The U.S Census Bureau
The money a consumer has left after paying taxes is called
disposable income
While an intranet allows for electronic communication within the boundaries of an organization, an extranet allows for communication with
suppliers and distributors
The Lanham Act provides
for registration of a company’s trademarks
Which of the following is a way the technology can improve existing products and the ways they are produced?
Precycling
According to the Census Bureau, a metropolitan statistical area will become a metropolitan statistical area when the urbanized area population reaches
50,000
When adjusted for inflation, gross income has been ____ since 1968
relatively stable
Consumers will make spending adjustments due to a direct change in disposable income when
taxes rise or fall faster than income
Which of the following are examples of past government legislation designed to protect the consumer?
Prohibition of unsafe products and prohibition of monopolies
The national Do Not Call Registry has most impact on what practice?
Telemarketing
Legislation that allows a firm to protect its newly developed product from competition is called
The patent law
When Hallmark produces cards to give to step-parent, it is marketing to what type of household?
Blended family
Though a relatively smaller group, this group born between 1965 and 1976 has become a dominant force and the focus of marketers today
Generation X
Which of the following is a new Census category that tracks the U.S population?
Multiracials
An environmental scan may indicate that coffee manufacturers, coffee retailers, and coffee distributors are likely to be affected by a downward
trend in coffee consumption
Chapter 4
Which of the following refers to the fact that organizations are part of a larger society and are accountable to that society for their actions?
Social responsibility
A(n) ____ of ethics is a formal statement of ethical principles and rules of conduct.
code
Which of the following are the concepts of social responsibility?
1. Profit responsibility
2. Societal responsibility
3. Stakeholder responsibility
Ethics deal with ____ moral principles and values, while laws are ____ values and standards that are enforceable in the courts.
Personal; society’s
The right to safe products and to be informed by businesses that sell them are part of the ____ Bill of Rights.
Consumer
Which two of the following are personal moral philosophies that have the most direct bearing on marketing practice?
Utilitarianism and moral idealism
____ serve as guidelines on how to act rightly and justly when faced with moral dilemmas.
Ethics
Which two of the following are the most common unethical behaviors when it comes to competition in business?
1. Economic espionage
2. Bribery
A systematic assessment of a firm’s objectives, strategies, and performance in terms of social responsibility is known as a(n)
social audit
In cause marketing, charitable contributions are not outright contributions but rather are
tied to customers revenues produced through the promotion of one of its products.
Which personal moral philosophy considers certain individual rights or duties as universal, regardless of the outcome?
Moral idealism
____ is a personal moral philosophy that focuses on “the greatest good for the greater number.”
utilitarianism
Societal responsibility extends the concept of social responsibility to which of the following?
1. Preservation of the ecological environment
2. The general public
A company representative who gives a gift to the government official considering a contract for the representative’s firm may be accused of
bribery
____ responsibility holds that companies have a simple duty: to maximize profits for their owners or stockholders.
Profit
Which of the following help explain society’s current perceptions of ethical business conduct?
The public’s expectations of ethical business behavior has increased.
____ development involves conducting business in a way that protects the natural environment while making economic progress.
sustainable
Which of the following are benefits associated with companies’ effort to increase social responsibility?
1. Favorable word of mouth
2. Outperforms others financially
A(n) is an employee who reports illegal or unethical actions of their employers.
whistleblower
Because culture is socializing force that dictates what is morally right, moral standards are
relative to particular societies
Economic espionage is
the clandestine of trade secrets or proprietary information about a company’s competitors.
When an organization focuses on the obligations it has to consumers, empl0yess, suppliers, and distributors it is accepting its ____ responsibility.
stakeholder
Organizations that place an emphasis on the triple-bottom line recognize the need to improve the state of which of the following?
1. People
2. The planet
3. Profit
Public opinion surveys indicate that most people feel the ethical standards of business executives
are only “fair” or “poor”
Companies that are perceived as socially ____ typically benefit from favorable word of mouth, and outperform other companies financially.
responsible
Which of the following are examples of societal responsibility?
1. Green marketing
2. Use of the triple-bottom line
The legal concept of caveat emptor closely translates to
“let the buyer beware”
Which of the following are steps in conducting a social audit?
1. Specify the resources necessary to achieve social responsibility objectives
2. Identify causes consistent with the company’s mission
3. Evaluate social responsibility programs
Examples of an ethical problem in which a marketer is violating the Consumer Bill of Rights include which of the following?
1. Promoting a dangerous product
2. Failing to disclose actual costs of an auto lease
Which of the following are common ways in which consumers fail to act ethically or responsibly?
1. Pirating music
2. Putting inaccurate information on credit applications
3. Submitting phony insurance claims
In an ethical exchange, both buyer and seller should be ____ afterward.
better off
In which of the following industries is economic espionage most prevalent?
High-technology
In which of the following ways can top management contribute to the unethical behavior of employees?
1. Reward employees for ethically troubling behavior
2. Penalize employees who refuse to engage in unethical behavior
Recent surveys indicates that 50% of U.S. consumers were willing to change their lifestyle to improve the environment and
they may be unwilling to pay higher prices
About which of the following should a marketer be especially careful in order to be sensitive to the
Consumer Bill of Rights?
Collecting personal information from online consumers
Which two of the following are the most common motivations for unethical consumer behavior?
1. Consumers believes he or she can get away with it
2. Consumer’s rationalization that the act is justified
Pepsi-Cola received an offer from Coca-Cola employee to purchase a confidential marketing plan for a new Coke product. had this transaction been carried out, it would have been an example of
economic espionage
When a company like 3M has formal program to reduce pollution and recycle material, it is pursuing
green marketing
Stakeholder responsibility focuses on the obligation an organization has to
to those who can affect achievement of its objectives
The majority of business people feel that it is Ok to “get around a law if you don’t actually break it” but this may be a rationalization of ____ behavior.
unethical
Example of cause marketing
Procter and Gamble raises funds for the Special Olympics when customers purchase select company products.
Bridgestone/Firestone was slow to recall tires that had been linked to dangerous crashes. Under stakeholder responsibility,, the firm should have considered effects of its actions on
consumers
Which of the following are examples of societal responsibility/
1. Green marketing
2. Cause marketing
3. Use of the triple-bottom line
Chapter 5
What behavior does Beth show when she seem to know the exact location in the grocery store for every item on her shopping list?
Learning
Perceiving a difference in one’s idea and actual situations is the initial stage of the purchase decision process, one that is known as ____ recognition.
problem
Which two of the following are fundamental to brand loyalty?
A consistent purchase behavior of single brand
and a favorable attitude toward a single brand
The process by which a person selects, organizes, and interprets information to create a meaningful picture of the world is called
perception
Concepts from the field of ___ like perception and personality help marketers understand why and how consumers behave as they do.
psychology
The sociocultural factors that influence consumer behavior include which of the following?
1. Friends and family
2. Reference groups and culture
Locating information from one’s own memory and knowledge is known as a(n) ____ search, whereas seeking outside sources of information is a(n) ____ search.
Internal; external
The actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions is known as
consumer behavior
Which of the following are problem-solving variations for consumer purchase decisions?
Routine and Limited
The influencing of people during conversation, in either positive or negative ways, is called
word of mouth
The family ____ ____ concept describes the distinct phases that a family progresses through from formation to retirement.
life cycle
Which two of the following are characteristic of attitudes?
1. They are learned
2. They are consistently favorable or unfavorable
Social class is determined by which two of the following?
1. A person’s occupation
2. A person’s education
A consumer’s ____ is identified partly by what that person considers important in her environment and what she thinks of herself and the world around her.
lifestyle
When Time, Inc. publishes a kid’s version of its Sports Illustrated publication it is attempting influence today’s children to purchase SI when they become adults. This process is an example of
Consumer socialization
Individuals who exert direct or indirect social influence over others are called ____ leaders.
opinion
Casey is looking to buy a new replacement set of golf clubs. After he settles on a particular set of Callaway clubs, what other choices does Casey have to make?
1. he needs to determine from whom he should buy
2. he must decide when he will make the purchase
Personality is defined as a person’s ____ behaviors or responses to recurring situations.
consistent
____ is the energizing force that stimulates behavior to satisfy a need.
Motivation
the process by which a firm attempts to have the consumer associate two ideas such as a drug and headache relief is called
cognitive learning
Worrying about the expense of a purchase, the possibility that it will harm you in some way, or that your friends will make fun of it are all examples of perceived
risk
Which of the following are major categories of influence on the purchase decisions process?
psychological and sociocultural
A consumer will often turn to one of their formal or informal ____ groups for advice and guidance on acceptable beliefs, attitudes, and consumer behaviors. This group might be colleagues at work, team members on sports team, or a club in which they are member.
reference
Personal influence, reference groups, family influence, and culture are types of ____ influence on the consumer purchase decision process.
Sociocultural
The objective and subjective attributes that are considered as a consumer evaluates a product are known as
evaluative criteria
The process of developing automatic responses to a situation built up through repeated exposure to it is called
behavioral learning
Karen just got a haircut and she is not sure it was the right decision for her. To relieve her cognitive dissonance, she might engage in which behaviors now?
1. noticing other fashionable consumers with similar haircuts
2. asking her friends for feedback on the cut
Objective and subjective product criteria are developed during the ____ stage of the purchase decision process so that the decision can be made in the next stage.
alternative evaluation
A high-involvement purchase will typically have which characteristics?
1. is typically expensive
2. typical for products that could reflect on one’s social image
3. requires extensive external search
A relatively permanent, homogeneous divisions in a society into which people sharing similar values interests, and behavior can by grouped is called
social class
From whom to buy and when to buy are decisions made during which stage of the purchase decision process?
purchase decision
The final step in the purchase decision process is known as
postpurchase behavior
Which of the following factors increase the depth and duration of a consumer’s information search?
1. Low cost of gathering information
2. Little past experience and knowledge
3. High risk involved with making a wrong decision
New products in a low-involvement product category should focus on which of these strategies?
1. Encouraging trial of the brand with samples
2. breaking buying habits
The process by which consumers filter information to limit it to what they want to see is called selective
perception
After her purchase of a car, Mariah experienced cognitive ___ as she agonized over whether or not she made the right choice.
dissonance
Evidence regarding subliminal perception suggests that is has what type of effect on behavior?
a limited effect, if any
From which two sources is learning derived?
1. Repeated experience
2. Reasoning
Which of the following occurs during the postpurchase behavior stage of the purchase decision process?
1. Having cognitive dissonance
2. Feeling satisfied or dissatisfied
3. Comparing a product to one’s expectations
Which two of the following are the variables with which the VALS system categorizes buyers
1. Their resources
2. Their primary motivation for buying and having products
The needs for shelter and food can be categorized as ____ needs, while the need for designer fashions can be classified as a ____.
physiological; personal
De Beers advertises around the world with the message, ” Diamonds are Forever,” appealing to women’s ____ needs for love and belonging.
social
Which of the following describes the situational influence known as physical surroundings?
The store layout, décor, and music
The consumer’s ____ set is the group of brands that a consumer would consider acceptable among all the brands of which he is aware.
consideration
Jackson wants to buy a new cell phone. Of the brands that Jackson recalls, those he thinks he would actually buy are his ____ set.
consideration
Lucy often advises Johnny about which kind of shirt he should buy. Lucy is acting in the role of a(n) ____ in the family decision process.
Influencer
An ____ search is when the buyer seeks information outside his or her personal knowledge base to help make the buying decision, such as checking the internet, asking a friend, or visiting a showroom.
external
____, which are a consumer’s subjective perception of how a product or brand performs on different attributes, affect attitude formation.
Beliefs
New products in a low-involvement product category should focus on which of these strategies?
1. Encouraging trial of the brand with samples and coupons
2. Breaking buying habits
Mason is trying to decide where to go for lunch. He wants to try a new place. He asks his coworkers for suggestions about where he should go. He is demonstrating which type of problem solving?
Limited; limited means to consumers seek some info or rely on a friend to help them evaluate their alternatives.
A set of values, ideas, and attitudes that is learned and shared among members of a group is called
culture
The ____ is one of the most substantial influences on buyer behaviors and attitudes. It is the smallest, most immediate reference group with whom one learns how to use consumer products and services and the brands they often continue to use for life.
family
Problem recognition is perceiving the difference between the ____ state (the consumer is currently hot and thirsty) and the ideal state (the consumer is refreshed from drinking a cool lemonade).
actual
Marketers recognize that people have which two types of self-concepts?
actual and ideal
Postpurchase behavior is critical to marketing managers primarily because
it is the opportunity for marketers to measure and track satisfaction
Which of these characteristics are central to defining culture?
Attitudes and values
Customers of Harley Davidson that join a HOG are participating in a(n)
brand community
Which of the following are types of reference groups with clear implications for marketers?
Aspiration group and Dissociative group
Attitudes toward a product are shaped by our
values and beliefs which are learned
Jon is using ____ ____ when he bases his decision to purchase textbooks on price, condition, and location.
evaluative criteria
A market-leading beer company’s marketing strategy would most likely involve and emphasis on
reinforcing advertising and maintaining quality and supply
Which of the following are considered primary motivations for buying and having products, according to the VALS system
Ideals, Achievement, Self-expression
The consumer buying decision process begins when which of the following occurs within the consumer?
Consumers recognize that there is a difference between their actual and ideal situations
Seventy percent of ____ are immigrants. Most are under the age of 30. This subculture is composed of many diverse groups, which makes it difficult to generalize buying patterns.
Asian Americans
Which of the following would be the best way for Proctor and Gamble to change a consumer’s attitude towards Tide?
Add a new ingredient to the formula
Danilo just received a quote from his car dealer and now must decide on this purchase. He is not sure he can afford the car, or if it gets high enough crash ratings. Danilo is contemplating perceived
risk
There are three approaches used y marketers to change consumer’s attitude. They are changing the perceived importance of attributes, adding new attributes to the product, and:
changing beliefs about certain attributes
When the U.S Army invites enlistees with the slogan “Be all you can be,” what type of motivational needs does it target?
self-actualization
____ comprise the largest racial/ethnic subculture today, in terms of population and spending power in the United States.
hispanics
When Marriott uses its name on a second line of properties, Courtyard by Marriott hotels, it uses the behavioral learning theory called stimulus
generalization
After the consumer completes the problem recognition stage in the purchase decision process, she then behinds the ____ stage.
information
A buyer is most likely to skip some stages of the purchase decision process when he is buying what type of good or service?
low-priced, frequently purchased products
According to the concepts of selective exposure and selective comprehension, you are most likely to pay attention to and interpret information that
is consistent with your attitudes and beliefs
Chapter 6
When several people in an organization participate in purchase decisions, often for more important or expensive contracts, it is called
a buying center
Organizational buyers that buy physical products and resell them again without any reprocessing are known as ____.
resellers
Which of the following are the recognized buy classes in organizational buying?
1. Straight rebuys
2. Modified rebuys
3. New buys
Organizational buying behavior revolves around a ____ that has similarities to consuming buying behaviors.
decision-making process
Organizational buyers are divided into which of the following markets?
1. industrial
2. government
3. reseller
Because it improves timeliness of supplier information and reduces both order processing and marketing costs, ____ buying is popular in all three kinds of organizational markets.
online
Resellers
buy physical products and sell them to others without reprocessing
Some organizations, known as ____ firms, reprocess a product or service they buy before selling it again to the next buyer.
industrial
Which of the following are ways that businesses might use NAICS-coded information?
1. to determine the classification of current customers
2. to study demand for products
3. to study market share
Derived demand refers to the concept that demand for industrial products is driven by
demand for consumer products
____ marketing refers to marketing of goods and services to organizations for use in the creation of goods and services that they can produce and market to others.
buiness
Organizational buyers buy goods and services for which two reasons?
1. For resale
2. For their own use in a business function
Evaluative criteria in the consumer decision process are most similar to what?
Organizational buying criteria for business buyers
A(n) ____ rebuy occurs when an organizational buyer simply reorders additional units of products with no changes from an approved supplier.
straight
Which of the following are ways that the purchase decision stage of the organizational decision process differs from the same stage of consumers?
1. Lengthy negotiations may occur
2. Suppliers not chosen are told why
3. Multiple contracts for different suppliers of the same items may be awarded
The underlying reason that Nissan Motor Company, an organizational buyer, switched its advertising agency was
to increase revenues
In a traditional auction, the winner
is the buyer with the highest bid
A(n) ____ rebuy occurs when an organizational buyer has purchased a similar product in the past but has decided to change something like the specifications, price, or supplier.
modified
Which of the following are typical in a new buying situation?
1. The buying center includes more people
2. Decision time is lengthy
In a reverse auction, the winner
is the supplier with the lowest bid
The industrial buying practice in which two organizations agree to purchase each other’s products is known as ____.
reciprocity
____ demand means that the demand for industrial products and services is driven by demand for consumer products and services.
Derived
In the purchase decision stage of the organizational buying decision process, the firm
awards contracts to chosen suppliers
A list of firms believed to be qualified to supply a given item to an organizational buyer is known as ____ list.
bidder’s
Many companies have added new objectives in their organizational buying decisions, including which two of the following?
1. Emphasizing buying from minority and women-owned suppliers
2. Including environmental initiatives
Organizational buying behavior ____ the consumer purchase decision process.
is similar to
In which of the following stages of the organizational purchase decision process does the make-buy decision, a choice between purchasing from outside or making the product itself, occur?
problem recognition
Which of the following buy classes involves the greatest potential risk to the buyer?
New buy
Which of the following would be considered resellers?
Retailers, wholesalers, distributors
Which of the following organizational buyers could be considered part of the industrial market?
Mining companies and public utilities
A supply partnership lowers costs and increases value of products through the adoption of
mutually beneficial objectives, policies, and procedures between buyers and sellers
Depending on the product, there may be a person who act as a(n) ____ in the buying center, often by providing specifications for the product being purchased or the vendor being considered.
influencer
The ____ role is sometimes fulfilled by the buyer in the buying center, but sometimes is done by someone else for important technical purchases.
deciders
The systematic appraisal of the design, quality, and performance of a product in order to reduce purchasing costs is known as a
value analysis
An organizational buyer that requires ISO 9000 certification of its suppliers benefits from
confidence in the consistent quality of its suppliers’ products
Which of the following are commonly used organizational buying criteria?
1. Price
2. Ability to meet delivery schedules
3. Past performance on contracts
Within the buying center, you are considered the ____ when you are the one using the product within your organization.
user
Independent trading communities and private exchanges provide online trading platforms for organizations and are examples of
e-marketplaces
For organizational buyers, supplier development results in
supplier products and capabilities that fit the buyer’s needs
Which of the following are more true of the organizational buying decision process, as compared to the consumer one?
Supplier capability becomes more important

more individuals are involved in the decision

Which of the following are ways that the purchase decision stage of the organizational decision process differs from the same stage for consumers?
1. Multiple contracts for different suppliers of the same items may be awarded
2. Suppliers not chosen are told why
3. Lengthy negotiations may occur
In a(n) ____ auction, there are many suppliers involved and buyers benefit from the lower prices generated from this type of auction,
reverse
Which of the following are likely to participate in an organization’s buying center?
1. the purchasing manager
2. an employee from another functional area
In a(n) ____ auction, products are simply sold to the buyer with the highest bid.
traditional
Which of the following is more likely to occur in organizational buying than for consumer buying?
Complex negotiations
The purchase stage is ____ in the organizational buying decision process than it is for consumers.
longer
The ____ controls the flow of information and may prevent it from reaching other members of the buying center.
gatekeeper
Which of the following are reasons that a supplier might not like a reverse auction?
1. It threatens supply partnership opportunities
2. It overemphasizes price as a buying criteria
____ government agencies can act as organizational buyers by purchasing products from other organizations.
Many
In the ____ stage of the organizational buying decision process, the firm awards contracts to one or more of its preferred suppliers.
purchase decision
The deliberate effort by organizational buyers to build relationships that shape suppliers’ products and capabilities to fit a buyer’s needs is known as
supplier development
Firms selling to organizational buyers have ____ potential customers compared to firms selling to consumers
far fewer