Mktg Test #2 Gsu

Front 1

There are five stages in the consumer purchase decision process. The third stage is __________.

Back 1

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…Problem Recognition, Information Search, Alternative
Evaluation, Purchase Decision, Post-Purchase Behavior.

Front 2

Lexi wants to find the perfect gift for her older sister’s college graduation. She started looking for the gift last
month and expects to spend another couple of months to find a gift her sister will use and like. Lexi is engaging
in

Back 2

Differentiate between Extended, Routine and Limited Problem Solving

Front 3

Limited

Back 3

Consumers typically seek some information or rely on a friend to help them evaluate alternatives.

Front 4

Routine

Back 4

Routine: Those that are made routinely with little or no conscious effort.

Front 5

Extended

Back 5

Extended: Employed when unfamiliar, expensive, or infrequently bought products are purchased; buyers use many
criteria to evaluate brands and spend more time searching for information and deciding on the purchase.

Front 6

Another name for the analysis of consumer lifestyles is called __________.

Back 6

Psychographics

Front 7

Psychographics

Back 7

How people spend their time and resources, what they consider important in their
environment, and what they think of themselves and the world around them. Psychographics combinesb psychology, lifestyle, and demographics to uncover consumer motivations for buying and using products andservices.

Front 8

The five aspects of the purchase situation that impact the consumer purchase decision process: purchase task,

social surroundings, physical surroundings, temporal effects, and antecedent states.

Back 8

Situational, Psychological

Front 9

Situational

Back 9

The five aspects of the purchase situation that impact the consumer purchase decision process: purchase task,

social surroundings, physical surroundings, temporal effects, and antecedent states.

Front 10

Psychological

Back 10

The psychological influences include motivation and personality, perception, learning, values,
beliefs, attitudes, and lifestyle.

Front 11

Sociocultural influences that affect the consumer purchase decision process include

Back 11

Reference groups, family, culture, social class, personal influence

Front 12

Data

Back 12

the facts and figures related to the problem that are divided into two main parts: secondary data and
primary data

Front 13

Primary data

Back 13

Facts and figures that are newly collected for a project at hand.advantages & disadvantages

Front 14

Secondary

Back 14

Facts and figures already recorded prior to the project at hand…advantages and disadvantages.

Front 15

Organizational buyers can be divided into three different markets, which are

Back 15

Industrial, reseller, federal, state, and local govt

Front 16

Industrial

Back 16

Manufacturers and purchasers of tangible goods for use in the production of other goods and services

Front 17

Reseller

Back 17

Wholesalers and Retailers…purchase and resell w/o modifying the product or service.

Front 18

Federal, state, and local governments

Back 18

Purchase goods and services for the constituencies (voters, citizens) they serve.

Front 19

Derived Demand

Back 19

demand for industrial products and services that is driven by, or derived from, the demand for
consumer products and services.

Front 20

What are the three kinds of marketing research that are used depending on the type of problem to be solved?

Back 20

Exploritory, Descriptive, Casual

Front 21

Exploritory

Back 21

Observational data, facts and figures obtained by watching, either mechanically or in person,
how people actually behave.

Front 22

Descriptive

Back 22

Descriptive research involves trying to find the frequency that something occurs or the
extent of a relationship between factors. Example: Obtaining data on the number of households that buy a
particular product is descriptive research.

Front 23

Casual

Back 23

Research that involves trying to determine the extent to which the change in one factor changes
another.

Front 24

Semantic differential scale

Back 24

scale is a five-point scale in which the ends have adjectives that have opposite
meanings.

Front 25

Likert

Back 25

The respondent indicates the extent to which he or she agrees or disagrees with a statement.

Front 26

Product Positioning:

Back 26

Strategy involving a firm’s using different marketing mix activities to help consumers perceive the

product as being different and better than competing products. Changing the place an offering occupies in consumers’

minds relative to competitive products.

Front 27

Market-Development:

Back 27

Strategy used when the current product is launched in a new market…Introduce existing products

in foreign markets or introduce new brand names in a market. Develop new markets for its current products. How?

Identify new demographic or geographic markets.

Front 28

Market Penetration:

Back 28

When the product is in the current market, it can still grow using a marketing strategy that

involves a firm using different marketing mix (4Ps) actions to help consumers perceive the product as being different and

better than competing products Making more sales to current customers without changing its products.

Add new stores in current market areas, improve advertising, adjust prices, service or store design.

Front 29

Product-Development Strategy:

Back 29

Product-Development Strategy: When a new product is launched in the current market. Company strategies based on

product development often try to sell other products to (regular) clients. This can be accessories, add-ons, or completely new products.

Front 30

Diversification:

Back 30

A technique that helps a firm search for growth opportunities from among current and new markets as well as current

Front 31

Reciprocity

Back 31

Reciprocity occurs when firm A purchases from supplier B, who in turn buys A’s own products and services.

An industrial buying practice in which two organizations agree to purchase each other’s products and services

Front 32

An organization’s buying center includes individuals who can play one or more of the following roles

Back 32

Gatekeepers, influencers, deciders, users

Front 33

Gatekeepers:

Back 33

People who control the flow of information in the buying center, such as technical experts and
secretaries, can keep salespeople and information from reaching others in the buying center.

Front 34

Influencers:

Back 34

Affect the buying decision, usually by helping define the specifications for what is to be bought.

Front 35

Deciders:

Back 35

Decision maker….approve the purchase

Front 36

Users

Back 36

Persons who use the item…he people who will work directly with the purchased products or services

Front 37

What is the North American Industry Classification System (NAICS)?

Back 37

The North American Industry Classification System (NAICS) designates industries with a numerical code in a defined structure. The system provides common industry definitions for Canada, Mexico, and the United States to facilitate the measurement of economic activity in the three member countries of the
North American Free Trade Agreement (NAFTA).

Front 38

Mystery Shoppers:

Back 38

People posing as customers, who are paid to check on the quality of a company’s products and
services and write a detailed report on the experience.

Front 39

Focus groups

Back 39

are informal sessions of 6 to 10 past, present, or prospective customers, often held in a room that
permits observation through a one-way mirror.

Front 40

Market Segmentation

Back 40

targeting niche markets and make shoes designed to satisfy the needs of

different specific groups of customers.