Marketing Exam -

Front 1

Define the difference between Niche Mass & Segmented markets. Site an example of each

Back 1

Mass = undifferentiated market - go after entire marketplace Segmented = differentiated - go after several specific markets Niche = concentrated - market to one or few segments of the marketplace

Front 2

Define brand equity and site an example of its use

Back 2

positive differential effect that knowing the brand name has on a customer’s response to the product or service.

Front 3

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness

Back 3

Introduction

Front 4

_____ is never simple yet understanding it is the essential task of marketing management

Back 4

Consumer buying behavior

Front 5

The ________ is the most important consumer buying organization in society; the roles and influences of different members have been researched extensively

Back 5

Family

Front 6

The third level of a product that product planners must build is a(n) ________ around the core benefit and actual product that offers additional consumer services and benefits

Back 6

augmented product

Front 7

_____ are people within a reference group who because of special skills knowledge personality or other characteristics exert influence on others

Back 7

Opinion leaders

Front 8

Increasing profits will most likely occur at which stage of the PLC

Back 8

growth

Front 9

The search for new-product ideas should be ________ rather than haphazard

Back 9

systematic

Front 10

_____ is the product life cycle period when sales fall off and profits drop

Back 10

Decline

Front 11

A segmenting approach that has been around for a long time that can be very effective ________ tailors brands and promotions to the needs and wants of specific cities neighborhoods and even stores

Back 11

local marketing

Front 12

The marketer’s job does not end when the product is bought. After purchasing the product the consumer will be satisfied or dissatisfied and will engage in ________

Back 12

postpurchase behavior

Front 13

When a market segment is large or profitable enough to serve

Back 13

it is termed ________,substantial

Front 14

In the competition between ________ and ________ brands retailers like Ingles have the advantages of controlling what national branded products such as Kraft will be stocked where products will be stocked and what prices will be charged

Back 14

national; private

Front 15

New product development starts with

Back 15

idea generation

Front 16

A ________ is a group of products that are closely related because they function in a similar manner are sold to the same customer groups are marketed through the same type of outlets or fall within given price ranges

Back 16

product line

Front 17

Product planners need to think about products and services on three levels. The most basic level is the ________ which addresses the question “What is the buyer really buying

Back 17

core benefit

Front 18

Once managers of Keek & Brees Tavern have decided on their product concept and marketing strategy

Back 18

they can evaluate the business attractiveness of the proposal in the ________ stage of the new-product development process,business analysis

Front 19

What are the four steps (in order) to target marketing

Back 19

market segmentation, targeting differentiation, and positioning

Front 20

_____ is defined as the use of commercial marketing concepts and tools in programs designed to influence individuals’ behavior to improve their well-being and that of society

Back 20

Social marketing

Front 21

As in consumer segmentation, many marketers believe that ________ and ________ segmentation provide the best basis for segmenting business markets

Back 21

benefits ; buying behavior

Front 22

When Ingles customizes its merchandise store by store to meet shopper needs it is practicing

Back 22

local marketing

Front 23

Which of the following types of quality refers to freedom from defects and consistency in delivering a targeted level of performance

Back 23

conformance

Front 24

_____ describes changes in an individual’s behavior arising from experience

Back 24

Learning

Front 25

What are the two ways that a company can obtain new products

Back 25

new-product development and acquisition

Front 26

Companies rarely solicit ideas from customers during the idea generation stage of product development

Back 26

False

Front 27

With what groups do firms conduct concept testing for new products

Back 27

target consumers

Front 28

{BLANK} are less frequently purchased consumer products and services that customers compare carefully on suitability quality price and style. Consumers spend much time and effort in gathering information and making comparisons about these products

Back 28

Shopping products

Front 29

Maslow’s theory is that ________ are arranged in a hierarchy from the most pressing at the bottom to the least pressing at the top

Back 29

human needs

Front 30

A company getting ready to launch a new product must make several decisions. The company must first decide on

Back 30

when to time the new product introduction

Front 31

Executives manufacturing employees and salespeople are all examples of

Back 31

internal sources for new-product ideas

Front 32

[ BLANK ]has been affected by the need to include unit pricing open dating and nutritional information

Back 32

labeling

Front 33

The total financial value of a brand is measured through the process of brand

Back 33

valuation

Front 34

As Serria Trading Post Inc. customizes its offers to each individual consumer. This practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations is referred to as ________ marketing

Back 34

micro

Front 35

Which of the following is an advantage offered by co-branding

Back 35

A company can expand its existing brand into a category it otherwise might have difficulty entering alone.

Front 36

Product is a key element in ________. At one extreme it may consist of pure tangible goods or at the other extreme pure services

Back 36

the market offering

Front 37

The buying process starts with ________ in which the buyer recognizes a problem or need

Back 37

need recognition

Front 38

The answer to the customer’s question “Why should I buy your brand?” is found in the

Back 38

value proposition

Front 39

Mass marketers such as Target and Venture Stores often ignore market segment differences and target the whole market with one offer. What is their approach to segmenting

Back 39

undifferentiated marketing

Front 40

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 or she is exposed is called

Back 40

selective attention

Front 41

Cigarette beer and fast-food marketers have generated much controversy in recent years by their attempts to target

Back 41

inner-city minorities

Front 42

Many marketers are now using new interactive technologies such as Frito-Lay’s online virtual convenience store to reduce the cost of

Back 42

test marketing

Front 43

A detailed version of a new idea stated in meaningful customer terms is called a

Back 43

product concept

Front 44

Which of the following is perhaps the most important external source of new-product ideas

Back 44

Customers

Front 45

People change the goods and services they buy over time because of the two changing factors of

Back 45

age and life-cycle stage

Front 46

In recent years product safety and environmental responsibility have become major

Back 46

packaging

Front 47

In the ________ stage of new-product development products often undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them

Back 47

concept development and testing

Front 48

The income segmentation process divides the market into different

Back 48

income groups

Front 49

Gender segmentation divides the market up into different groups based on

Back 49

gender

Front 50

Marketing researchers usually draw conclusions about large groups of consumers by studying a small ________ of the total consumer population.

Back 50

sample

Front 51

Over the past 50 years, which of the following groups of workers has become smaller?

Back 51

blue collar

Front 52

_____ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.

Back 52

Marketing intelligence

Front 53

Which of the following terms is used to describe the factors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers?

Back 53

the marketing environment

Front 54

Guided by marketing strategy, the company designs a marketing mix made up of factors under its control—product, price, place, and promotion.

Back 54

True

Front 55

What is the purpose of a data warehouse?

Back 55

to integrate information a company already has

Front 56

Because of increasing ________, Americans will demand higher quality products, books, magazines, travel, personal computers, and Internet services.

Back 56

levels of education

Front 57

Which of the following is an example of consumer-generated marketing?

Back 57

BMW’s use of brand-related consumer videos posted on video-sharing Web sites

Front 58

_____ can be a company division, a product line within a division, or sometimes a single product or brand.

Back 58

An SBU

Front 59

What are the two main types of research instruments used to collect primary data?

Back 59

questionnaires and mechanical devices

Front 60

The most common research instrument used is the ________.

Back 60

questionnaire

Front 61

A company’s marketing environment includes various ________ that are made up of groups that have an actual or potential interest in, or impact on, an organization’s ability to achieve its objectives.

Back 61

publics

Front 62

Making more sales to current customers without changing a firm’s products is ________.

Back 62

market penetration

Front 63

_____ are low-growth, high share businesses or products. They generate a lot of cash that the firm uses to pay its bills and support other SBUs that need investment.

Back 63

Cash cows

Front 64

As part of the rapid globalization of today’s economy, companies are selling more locally produced goods in international markets and ________.

Back 64

purchasing more supplies abroad

Front 65

The first step in strategic planning is to ________.

Back 65

define the company mission

Front 66

_____ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs.

Back 66

Marketing myopia

Front 67

You are directed to study the factors that are larger societal forces that affect your company—demographic, economic, natural, technological, political, and cultural. What are you studying?

Back 67

the macroenvironment

Front 68

_____ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation and exchange.

Back 68

Marketing

Front 69

_____ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

Back 69

Marketing research

Front 70

The ________ environment consists of factors that affect consumer purchasing power and spending patterns.

Back 70

economic

Front 71

The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors is called ________.

Back 71

market segmentation

Front 72

Your marketing department is currently researching the size, density, location, age, and occupations of your target market. Which environment is being researched?

Back 72

demographic

Front 73

Defining people by their birth date may be less effective than segmenting them by their ________ or ________.

Back 73

lifestyle; life stage

Front 74

Selecting which segments of a population of customers to serve is called ________.

Back 74

target marketing

Front 75

Customers buy from stores and firms that offer the highest ________.

Back 75

customer perceived value

Front 76

The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer high quality, performance, and innovative features.

Back 76

product

Front 77

A ________ defines a business in terms of satisfying basic customer needs.

Back 77

market-oriented mission statement

Front 78

A marketing information system (MIS) consists of people and procedures to assess information needs, ________, and help decision makers analyze and use the information.

Back 78

develop the needed information

Front 79

Which demographic group is characterized by a total fluency and comfort with computer, digital, and Internet technology?

Back 79

Millennials

Front 80

More and more companies involve only upper-level management teams in strategic planning, True or False?

Back 80

False

Front 81

Companies that do not keep up to date with the ________ environment may miss new product and market opportunities and find their current products outdated.

Back 81

technological

Front 82

What movement has encouraged marketers to pursue environmentally sustainable strategies?

Back 82

the green movement

Front 83

Which of the following statements regarding marketing intelligence is true?

Back 83

Marketing intelligence is publicly available information.

Front 84

The microenvironment consists of larger societal forces that affect a company, such as demographic, economic, political, and cultural forces, true or false?

Back 84

False

Front 85

The collection of businesses and products that make up a company is called its ________.

Back 85

business portfolio

Front 86

With an expected increase in ethnic populations, marketers are likely to place a greater emphasis on ________.

Back 86

targeted advertising messages

Front 87

_____ is the task of developing and maintaining an overall company strategy for long-run survival and growth.

Back 87

Strategic planning

Front 88

Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities.

Back 88

marketing

Front 89

Secondary data consists of information ________.

Back 89

that already exists somewhere and was collected for another purpose

Front 90

As more and more Americans are moving to “micropolitan areas,” marketers can most reasonably assume that ________.

Back 90

micropolitan areas may offer the same advantages as metropolitan areas

Front 91

Secondary data are ________.

Back 91

sometimes not accurate

Front 92

A radio station that carries news, features, and editorial opinions about your area is which type of public?

Back 92

media

Front 93

Behavioral targeting, the practice of __________, is being used by more and more companies.

Back 93

tracking consumers' online movements and using this information to target ads to them

Front 94

The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction.

Back 94

True

Front 95

Four common sources of internal data supplied to internal databases include the accounting department, operations, the sales force, and the _____.

Back 95

marketing department

Front 96

Which of the following provides an answer to these questions: What is our business? Who are our customers? What do our customers value? What should our business be?

Back 96

mission statement

Front 97

Define Engel's law and how it applies in today's business world.

Back 97

Difference noted a century ago on how people shift their spending across food, housing, transportation, health care, & other goods and services as their family income changes.

Front 98

Define marketing strategy & site an example of how it is used.

Back 98

Marketing logic by which a business unit hopes to create customer value & acheive a profitable relationship.