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BUS 105 2ND EXAM
Marketing Principles Exam #1
| Question | Answer |
|---|---|
| Education, individualism, freedom, health, and volunteerism are some of the ___________ | core values |
| When groups establish values & behaviors they deem appropriate for their members, those values & behaviors are called group _________ | subcultures |
| A person who is satisfying the most basic level of needs is operating at which level of Maslow's Hierarchy of Needs? | physiological needs |
| Helene, an industrial sales representative, made sure her company car was equipped with OnStars devices in case she ever had car trouble or got lost while traveling between appointments. Which level of Maslow's Hierarchy of Needs is Helene addressing? | Safety |
| The needs for fulfillment, realizing one's own potential, & fully using one's talents & capabilities are examples of __________ | self-actualization needs |
| Joining a local bowling league for social interaction is an attempt to meet ___________ | social/belongingness needs |
| Neuromarketing | subliminal messaging |
| The process of applying a series of rewards & reinforcements to permit more complex consumer behavior to evolve | shaping |
| The looking-glass self | the way an individual thinks others see him or her, may also differ substantially from self-image because people often choose to project different images to others than their perceptions of their real selves |
| Low-involvement decisions | bread, milk, gum, etc. |
| High-involvement decisions | car, house, college, etc. |
| The number of alternatives a consumer actually considers in making a purchase decision | evoked set |
| When a consumer begins to feel dissatisfied with a product or service recently purchased, the anxiety they feel is called: | cognitive dissonance |
| Individuals & firms that acquire goods & services to be used, directly or indirectly, in producing other goods & services | commercial market |
| Trade industry sellers | retailers or wholesales (resellers) |
| When the B2B market is segmented on the basis of precise product specifications issued by organizational buyers | customer-based segmentation |
| Customer-relationship management | the combination of strategies & tools that drives relationship programs, reorienting the entire organization to a concentrated focus on satisfying customers |
| Dell Computer purchases parts & resources for its computers from multiple suppliers that are spread across the world. This practice is known as: | global sourcing |
| An accounting term that refers to charging a portion of a capital item's cost as a deduction against the company's annual revenue for purposes of determining its net income | depreciation |
| Purchasing a firm's entire stock of an item from just one vendor | sale sourcing |
| When a business pays for the use of equipment owned by an outside supplier for a specified period of time | lease inputs |
| Involves movement of high-wage jobs from one country to lower-cost overseas locations | offshoring |
| Trade industry vendor who develops a comprehensive procurement plan for a retail buyer | category advisor (category captain) |
| The centralization of the procurement function within an internal division or as a service of an external supplier | systems integration |
| First-time or unique purchase situation that requires considerable effort by decision makers | new-task buying |
| Janelle works in distribution management at a Fortune 500 company & has formal authority to select a supplier. Janelle is a: | decider |
| Related party trade | trade by U.S. companies with their subsidiaries overseas as well as trade by U.S. subsidiaries of foreign-owned firms with their parent companies |
| Largest corporation based in the U.S. | Walmart |
| Nation's infrastructure | utilities, transportation, communications, banking & public services |
| Most frequently spoken language in the world | Mandarin (Chinese) |
| A complete ban on the import of a product | embargo |
| Limits the number of units of products in certain categories that can cross a country's border for resale | import quotas |
| A company sells products to a foreign market at a price lower than it sells within its own country | dumping |
| China & the U.S. are involved in a trade dispute. Which organization will attempt to resolve the dispute? | World Trade Organization (WTO) |
| Trade agreement among the U.S., Central American nations, & the Dominican Republic | Central American Free Trade Agreement-DR |
| Goal of EU | eventually remove all barriers to free trade among its members |
| An organization that provides first-time exporters with expertise in locating foreign buyers, handling paperwork, & conforming to local labeling & testing laws | export-management company (EMC) |
| Contractual arrangement in which a wholesaler or retailer agrees to meet the operating requirements of a manufacturer | franchise |
| Developing a completely new product to take advantage of a unique foreign opportunity | product invention |
| One of the very first marketing research studies involved an examination of people's: | soup buying habits |
| An organization that regularly provides a standardized set of data to all customers | syndicated service |
| Douglas Knowles & Howe, a marketing research firm, contracts with clients to conduct complete marketing research projects, including telephone & online interviews. DK&H is a ___________ | full-service research supplier |
| Wal-Mart prefers transaction records sorted by customer type, product, sales method, type of order, & order size. Analyzing internal data sorted in this manner is called: | sales analysis |
| A statement regarding the relationship among variables that carries clear implications for testing the relationship i | hypothesis |
| Information collected for the first time specifically for a marketing research study | primary data |
| Which of the following federal agencies is the most important source of secondary data for marketing research studies | U.S. Census Bureau |
| The total group of people that a researcher wants to study | population or universe |
| A group of people chosen from a defined population to be survey respondents or research participants | nonprobability sample |
| The process of searching through computerized data files to detect patterns | data mining |
| An estimate of a firm's revenue for a specified future period | sales forecast |
Created by:
cierra.dixon
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