Mk Midterm Extras

Front 1

Niche Markets

Back 1

Markets that are becoming increasingly popular for sponsors to become involved with

Front 2

Core Consumers

Back 2

Sponsoring UFC events and Tough Mudder events helps build loyalty with ________?

Front 3

Complacency

Back 3

Managers should avoid service_______, which is the tendency to rely on preexisting service advantages within their company.

Front 4

2002 to 2006

Back 4

In what years did this study take Place Loyalty customers flee when new comes in town

Front 5

Compensating Behavior

Back 5

Desire to consume all of a product in order to feel value was attained

Front 6

Ability to empty a package completely

Back 6

since 2008, consumers rated what feature of health and beauty products as the most important?

Front 7

Innovation

Back 7

According to Everett Rogers, what is an idea, practice, or object that is perceived as new?

Front 8

Observability

Back 8

Which of the following is least likely to be a driving factor for a consumer to adopt an innovation when dealing with online shopping

Front 9

The passion apple shows towards its customers and the build quality of the products

Back 9

What reasons cause Apple's consumers to have such a loyal and patient relationship with the company when a mistake is made?

Front 10

Emotional

Back 10

Steve Jobs, former CEO of Apple, INc. connected with customers on a(n) __________ level

Front 11

Aesthetic taste and emotion play an important role in a customer's choice for a product, and there is limited research on the subject

Back 11

Why is it important for more research and understanding in the consumer's decision making process when purchasing Hedonic products?

Front 12

Expertise involves a cognitive/intellectual thought process .This process is used when buying for practicality. Having Aesthetic taste relies on emotions, cultural identity, and past exper.

Back 12

How is being an expert on a product or service different from having aesthetic taste related to a product or service

Front 13

Malicious Envy

Back 13

Elizabeth has wanted a new iPone 12, but she has been waiting for the cost to drop. She discovers that her friend just bought a new one and instead of going and buying one she calls up friends and runs her friend Emily down.

Front 14

Benign Envy

Back 14

Researchers Niels Van De Ven, Marcel Zeelenberg, and Rik Pieters conducted experiments on college students and discovered that they are willing to pay more for a product when other students that they deemed similar to themselves acquired it. They are demonstrating ______

Front 15

Buying a razor blade

Back 15

Which of the following transactions will consumers be most price sensitive:

Front 16

Personal Values

Back 16

Which of the following factors will provide more meaningful segmentation of a market?

Front 17

Five Star

Back 17

Which following appliance retailer was acquired by best buy in Chinese Market?

Front 18

Chinese consumers' price sensitivity

Back 18

Which following explanation was NOT the major reason that caused Best Buy's failure in Chinese market?

Front 19

Geographic information system

Back 19

What does the acronym GIS stand for ?

Front 20

Simply Map

Back 20

What is an example of a useful Geographic information system (GIS) Software tool

Front 21

In the Hunting magazine

Back 21

to the right niche of customers, trucks would be better off advertised:

Front 22

to be a big fish in a small pond

Back 22

The article suggest that it is better:

Front 23

Young, tendy and price conscious

Back 23

What is Zara's main market target?

Front 24

Because it mainly manufactures within the proximity of the company's headquarters

Back 24

Why can Zara deliver to its stores up to twice weekly

Front 25

Locavore

Back 25

Someone who purchases food produced locally

Front 26

Online Surveys and Focus groups

Back 26

In what way was the research conducted? Who are the Locavores?

Front 27

Immoral and Unethical

Back 27

A high percentage of (responding ) parents view the advertising of potentially unhealthy food aimed at children to generally be:

Front 28

35% 25%

Back 28

___ of marketing professional consider the general ethical and moral standards in the industry to be Lower than in the past, and only _____ believe standards have improved

Front 29

Sales Decreased

Back 29

JC Penneys new pricing stately had what effect on their sales

Front 30

Customers are confused by the new strategy

Back 30

JC Penny CEO Ron Johnson believes that the reason the sales have decreased is:

Front 31

Premium pricing

Back 31

If JC penny kept their prices high in order to encourage favorable perceptions among buyers they would be using what strategy?

Front 32

Psychological pricing

Back 32

If JC Penny was to sell a product at 3.95 or 3.99 instead of 4 what pricing strategy would they be using?

Front 33

Competitor Growth greater than 40% a year, Customer Defection Rate greater than 5% a year

Back 33

Which of the following signal that a new free product is a threat to a company's entire business model?

Front 34

Bundling

Back 34

A $200 visa gift card with the 24 month commitment to a satellite contract is an example of:

Front 35

Pricing power zone

Back 35

Companies that have a strong price getting and employ customer value-based pricing are in the ?

Front 36

White-flag zone

Back 36

Companies that have weak price getting competency and employ cost-based pricing are in the ?