Marketing Exam #2 2/26/14

Front 1

Culture

Back 1

values, beliefs, preferences, and tastes handed down from one generation to the next

Front 2

Embargo

Back 2

complete ban on the import of specified products

Front 3

Tariff

Back 3

tax on imports

Front 4

Subsidy

Back 4

government financial support of a private industry

Front 5

Quota

Back 5

trade restrictions limiting he number of units of certain goods that can enter a country for resale

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GATT

Back 6

General Agreement on Tariffs and Trade: international trade accord that has helped reduce world tariffs

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WTO

Back 7

World Trade Organization: organization that replaces GATT, overseeing GATT agreements, making binding decisions in mediating disputes, and reducing trade barriers

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NAFTA

Back 8

North American Free Trade Agreement: accord removing trade barriers among Canada, Mexico, and the U.S.

Front 9

CAFTA-DR

Back 9

Central American Free Trade Agreement-DR: trade agreement among the U.S., Central American nations, and the Dominican Republic

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EU

Back 10

European Union: customs union that is moving in the direction of an economic union by adopting a common currency, removing trade restrictions, and permitting free flow of goods and workers throughout the member nations

Front 11

ISO

Back 11

International Organization for Standardization: internationally recognized standards that ensure a company's goods, services, and operations meet established quality levels and its operations minimize harm to the environment

Front 12

ISO 9000

Back 12

series of standards sets requirements for quality in goods and services

Front 13

If "B" represents consumer behavior, "i" represents interpersonal influences, "P" represents personal influences, and "E" represents pressures exerted by outside environmental forces, Kurt Lewin's statement, rewritten to apply consumer behavior, states that:

Back 13

B= f(I,P)

Front 14

The broadest environmental determinant of consumer behavior is:

Back 14

culture

Front 15

Which of the following is true of the Hispanic population in the United States?

Back 15

they are rising in proportion primarily because of their high birth rate

Front 16

Reference groups have a greater impact on the purchasing decision when the

Back 16

purchase is unique and conspicuous

Front 17

____ is an imbalance between a consumer's actual and desired states.

Back 17

need

Front 18

Which of the following statements is true regarding the nature of the business market?

Back 18

personal selling plays a bigger role in business markets than in consumer markets tend to last for longer duration

Front 19

The organizational buying process has more steps than the consumer buying process, which can be attributed to:

Back 19

relatively complex buying process with greater number of decision makers in business markets

Front 20

Institutions are a major component of the business market that:

Back 20

include a wide variety of organizations that often have diverse buying practices

Front 21

Zardo, Inc. divides its customers into the following categories: manufacturers, retailers, government agencies, and not-for-profit institutions. Which of the following types of segmentation is being used by Zardo?

Back 21

segmentation by customer type

Front 22

The system for grouping business that grew out of NAFTA accord is known as the:

Back 22

North American Industry Classification System

Front 23

The segmentation of B2B marketplace based on how business purchasers will use the product is called:

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segmentation by end-use application

Front 24

Which of the following products forms a major part of U.S imports?

Back 24

crude oil

Front 25

The U.S. is the world's largest exporter of ____.

Back 25

services

Front 26

Which of the following actions generally helps marketers encounter new products, new approaches to distribution, or clever new promotional ideas?

Back 26

globalization

Front 27

Consumer behavior

Back 27

process through which buyers make purchase decisions

Front 28

Interpersonal determinants of consumer behavior

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cultural influences, social influences, family influences

Front 29

Consumer Behavior Process

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Problem-Opportunity Recognition, Search, Evaluation of Alternatives, Purchase Decision, Purchase Act, Postpurchase Evaluation

Front 30

Consumer Behavior

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Routinized Response Behavior, Limited Solving Problem, Extended Problem Solving

Front 31

Maslow's Hierarchy of Needs

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Physiological Needs, Safety Needs, Social/Belongingness Needs, Esteem Needs, Self-actualization Needs

Front 32

B2B Marketing

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Organizational sales and purchases of goods and services to support production of other products, to facilitate daily company operations, or for resale

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B2C Marketing

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selling directly to consumers over the internet

Front 34

Define consumer behavior and interpersonal determinanta

Back 34

Consumer behavior is the process buyers make purchase decisions. Interpersonal determinants: cultural, social, family influences, limited problem solving, extended problem solving

Front 35

B2b and b2c. The segmentation basis for b2b

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B2b: tech in nature personal selling direct to market enduring and complex group. Bidding for unity items. B2c: service important, advertising more important through many groups. Short term individual list prizes

Front 36

Effective segmentation

Back 36

Segment must have measurable purchasing power and size. Markets can find a way to and serve the market. Marketers must identify segments large enough for profit potential. Furl can target a number of segments that match its marketing capabilities