Question 1

Quiz 4 MC

What are the four steps, in order, to designing a customer-driven marketing strategy?

Accepted Answer

Market segmentation, targeting, differentiating, and positioning.

Question 2

When Positive Image, Inc caters to clothing, cosmetics, and toiletries markets, it is most likely using what type of segmentation?

Accepted Answer

Gender

Question 3

By studying its less loyal buyers, a company can detect which brands are most___its own.

Accepted Answer

Competitive with

Question 4

As in consumer segmentation, many marketers believe that ____ and____ segmentation provide the best basis for segmenting business markets.

Accepted Answer

Benefits; buying behavior.

Question 5

In general, a company should enter only segments in which it can___and____.

Accepted Answer

Offer superior value; gain advantages over competitors.

Question 6

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?

Accepted Answer

Undifferentiated marketing.

Question 7

Developing a strong position within several segments creates more total sales than____marketing across all segments.

Accepted Answer

Undifferentiated

Question 8

Procter & Gamble sells six brands of laundry detergent in the United States, each designed for one of the six laundry segments Procter & Gamble has identified.Which of the following is the disadvantaged of their differentiated marketing strategy?

Accepted Answer

Increased costs for separate marketing plans for each brand

Question 9

Using concentrated marketing, the marketer goes after a____share of____.

Accepted Answer

Large; one or a few niches.

Question 10

When Wal-Mart customizaes its merchandise store by store to meet shopper needs, it is practicing______.

Accepted Answer

Local marketing

Question 11

Target marketing sometimes generates controversy and concern. Issues usually involve the targeting of_____consumers with____products.

Accepted Answer

Vulnerable or disadvantaged; Controversial or potentially harmful.

Question 12

When firms use symbols, colors, or characters to convey their personalities, they are using______differentiation.

Accepted Answer

Image.

Question 13

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

Accepted Answer

.

Value proposition

Question 14

Few people can afford the best in everything they buy. At times everyone needs a product with less quality or performance with a correspondingly lower price. In this case a consumer would purchase a product positioned with a_______strategy.

Accepted Answer

Less for much less.

Question 15

What is this an example of? “To busy, mobile professionals who need to always be in the loop, Blackberry is a wireless connectivity solutions that gives you an easier, more reliable way to stay connected to data, people, and resources while on the go.”

Accepted Answer

Positioning Statement.

Question 16

At one time Miller Beer was known as the “champagne of bottled beer.” Unfortunately, Miller drinkers did not drink much beer. In increase sales, Millers was repositioned to attract members of the middle working class. This segmentation approach is____.

Accepted Answer

Psychographic

Question 17

Shampoo marketers rate buyers are light, medium, or heavy product users. This is_____segmentation.

Accepted Answer

Cultural.

Question 18

Neiman Marcus claims superior quality, performance, and style. The owners provide the most upscale products and services and charge a higher price to cover the higher costs. What type of positioning does Neiman Marcus use?

Accepted Answer

More for more.

Question 19

When it first opened for business, Home Depot claimed to offer better products at a lower price. This hard-to-sustain value proposition is called____.

Accepted Answer

More for less.

Question 20

________Is the most basic cause of a person’s wants and behavior.

Accepted Answer

Culture.

Question 21

This group of consumers tend to buy more branded, higher-quality product. They make shopping a family event. In general, they are very brand loyal, and they favor companies who show special interest in them.

Accepted Answer

Hispanic.

Question 22

Although more price conscious than other segments, _____consumers tend to be strongly motivated by quality and selection. Brands are important. They enjoy shopping and are more fashion conscious than the other ethnic groups.

Accepted Answer

African American.

Question 23

Which of the following statements is true regarding social class in the United States?

Accepted Answer

Social classes show distinct product preferences in clothing and automobiles.

Question 24

The____is the most important consumer buying organization in society; the roles and influences of different members have been researched extensively.

Accepted Answer

Social class

Question 25

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

Accepted Answer

Age and life-cycle stage.

Question 26

A customer’s lifestyle can be measured using AIO dimensions. What does AIO stand for?

Accepted Answer

Age and life-cycle stage.

Question 27

Many marketers use the self-concept premise that people’s possessions contribute to and reflect their identities; that is, “we are what we have.” Under this premise, consumers_____.

Accepted Answer

Buy products to support their self image.

Question 28

_____is the process in which people select, organize, and interpret information to form a meaningful picture of the world.

Accepted Answer

Perception.

Question 29

Some consumers worry that they will be affected by marketing messages without even knowing it. They are concerned with____advertising.

Accepted Answer

Subliminal.

Question 30

_____Describes changes in an individual’s behavior arising from experience.

Accepted Answer

Learning.

Question 31

____are subtle stimuli that determine where, when, and how a person responds to an idea.

Accepted Answer

Cues.

Question 32

A______is a person’s relatively consistent evaluations, feelings, and tendencies toward an object or idea.

Accepted Answer

Attitude.

Question 33

The buying process starts with______, in which the buyer recognizes a problem.

Accepted Answer

Need recognition.

Question 34

The most effective sources from which consumers obtain information are___because they legitimize or evalute products for the buyer.

Accepted Answer

Personal.

Question 35

Relative advantage, compatibility, complexity, divisibility, and communicability are all examples of____.

Accepted Answer

Product characteristics that influence rate of adoption.

Question 36

Gen Xers make up a_____.

Accepted Answer

Subculture.

Question 37

A shoe company uses ads featuring the members of a country music band with the hope that the band’s fans will see them wearing the company’s shoes and want to wear the same shoes. The shoe company is hoping that fans of the band view the band as a_______>

Accepted Answer

Reference group.

Question 38

According to one analyst, a Harley-Davidson motorcycle can make you feel like “the toughest, baddest guy on the block.” Harley-Davidson promotes its motorcycles with images of independence, freedom, and power. Harley-Davidson has created a_____.

Accepted Answer

Brand personality.

Question 39

Pat thought he had receive the best deal on his new car. Shortly after the purchase, Pat started to notice certain disadvantages of his new car as he learned more about the other cars available. Pat is experiencing____

Accepted Answer

Post purchase dissonance.

Question 40

As a purchasing agent, Benni Lopez buys goods and services for use in the production of products that are sold and supplied to others. Benni is involved in______.

Accepted Answer

Business buyer behavior.

Question 41

Which of the following is true about business markets in comparison to consumer markets?

Accepted Answer

They deal with far fewer but far larger buyers.

Question 42

Large business purchasers usually call for detailed product specifications. These are all examples of how the business buying decision process is more____than the cosumer buying decision process.

Accepted Answer

Formalized.

Question 43

In a typical organization, buying activity consists of two major parts: the buying___and the buying____.

Accepted Answer

Center; decision process.

Question 44

A________controls the flow of information to others in the buying center.

Accepted Answer

Gatekeeper.

Question 45

A buying center is not a fixed, formally identified unit within an organization, but rather a set of_______assumed by different people for different purchases.

Accepted Answer

Buying roles.

Question 46

The first step of the business buying process is_____.

Accepted Answer

Problem recognition.

Question 47

In the case of maintenance, repair, and operating items, buyers may use a____rather than periodic purchase orders.

Accepted Answer

Blanket contract.

Question 48

In which stage of the business buying process is a supplier’s task to make sure that the supplier is giving the buyer the expected satisfaction?

Accepted Answer

Performance review.

Question 49

A problem with the rapidly expanding use of e-purchasing is that it_____.

Accepted Answer

Can erode customer-supplier relationships.

Question 50

The leading barrier to expanded electronic links with customers and partners online is_____.

Accepted Answer

Concern over security.

Question 51

Firewalls and encryption are______.

Accepted Answer

Two commonly used techniques to safeguard Internet and extranet transactions.

Question 52

Sage, Inc, provides food services to schools, hospitals, and nursing homes in the Midwest. Management at Sage is involved in the _____market.

Accepted Answer

Institutional.

Question 53

There are many factors considered in government buying, but______is above all, the most important.

Accepted Answer

Price.

Question 54

Giant Food Stores buy a lot of frozen turkey products at Thanksgiving and Christmas due to high consumer demand. This is an example of______demand.

Accepted Answer

Derived.

Question 55

ABC Enterprises sold 9,000 units at $2.99/unit in July. The firm sold 9,000 units at $4.29/unit in August. This illustrates_____demand.

Accepted Answer

Inelastic.

Question 56

UPS has become a strategic logistics ally for many of its business customers, going far beyond offering delivery services to offering inventory management, international trade management, ect. This is an example of what?

Accepted Answer

Buyers and sellers in the business markets build close, long term relationships.

Question 57

You regularly purchase cleaning supplies for your custodial staff, using the same vendor and ordering relatively consistent amounts of the same products with each purchase. This is an example of a_____.

Accepted Answer

Straight rebuy.

Question 58

Pace Hardware uses Learningnow.com to improve sales force effectiveness and facilitate the sharing of expertise.

Accepted Answer

Extranet.

Question 59

Which of the following was most likely being used when Boeing received orders for $100 million in spare parts in the first year its Web sit was in operation?

Accepted Answer

E-procurement.

Question	Answer
Quiz 4 MC What are the four steps, in order, to designing a customer-driven marketing strategy?	Market segmentation, targeting, differentiating, and positioning.
When Positive Image, Inc caters to clothing, cosmetics, and toiletries markets, it is most likely using what type of segmentation?	Gender
By studying its less loyal buyers, a company can detect which brands are most___its own.	Competitive with
As in consumer segmentation, many marketers believe that ____ and____ segmentation provide the best basis for segmenting business markets.	Benefits; buying behavior.
In general, a company should enter only segments in which it can___and____.	Offer superior value; gain advantages over competitors.
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?	Undifferentiated marketing.
Developing a strong position within several segments creates more total sales than____marketing across all segments.	Undifferentiated
Procter & Gamble sells six brands of laundry detergent in the United States, each designed for one of the six laundry segments Procter & Gamble has identified.Which of the following is the disadvantaged of their differentiated marketing strategy?	Increased costs for separate marketing plans for each brand
Using concentrated marketing, the marketer goes after a____share of____.	Large; one or a few niches.
When Wal-Mart customizaes its merchandise store by store to meet shopper needs, it is practicing______.	Local marketing
Target marketing sometimes generates controversy and concern. Issues usually involve the targeting of_____consumers with____products.	Vulnerable or disadvantaged; Controversial or potentially harmful.
When firms use symbols, colors, or characters to convey their personalities, they are using______differentiation.	Image.
The answer to the customer’s question “Why should I buy your brand?” is found in the_____	. Value proposition
Few people can afford the best in everything they buy. At times everyone needs a product with less quality or performance with a correspondingly lower price. In this case a consumer would purchase a product positioned with a_______strategy.	Less for much less.
What is this an example of? “To busy, mobile professionals who need to always be in the loop, Blackberry is a wireless connectivity solutions that gives you an easier, more reliable way to stay connected to data, people, and resources while on the go.”	Positioning Statement.
At one time Miller Beer was known as the “champagne of bottled beer.” Unfortunately, Miller drinkers did not drink much beer. In increase sales, Millers was repositioned to attract members of the middle working class. This segmentation approach is____.	Psychographic
Shampoo marketers rate buyers are light, medium, or heavy product users. This is_____segmentation.	Cultural.
Neiman Marcus claims superior quality, performance, and style. The owners provide the most upscale products and services and charge a higher price to cover the higher costs. What type of positioning does Neiman Marcus use?	More for more.
When it first opened for business, Home Depot claimed to offer better products at a lower price. This hard-to-sustain value proposition is called____.	More for less.
________Is the most basic cause of a person’s wants and behavior.	Culture.
This group of consumers tend to buy more branded, higher-quality product. They make shopping a family event. In general, they are very brand loyal, and they favor companies who show special interest in them.	Hispanic.
Although more price conscious than other segments, _____consumers tend to be strongly motivated by quality and selection. Brands are important. They enjoy shopping and are more fashion conscious than the other ethnic groups.	African American.
Which of the following statements is true regarding social class in the United States?	Social classes show distinct product preferences in clothing and automobiles.
The____is the most important consumer buying organization in society; the roles and influences of different members have been researched extensively.	Social class
People change the goods and services they buy over time because of the two changing factors________.	Age and life-cycle stage.
A customer’s lifestyle can be measured using AIO dimensions. What does AIO stand for?	Age and life-cycle stage.
Many marketers use the self-concept premise that people’s possessions contribute to and reflect their identities; that is, “we are what we have.” Under this premise, consumers_____.	Buy products to support their self image.
_____is the process in which people select, organize, and interpret information to form a meaningful picture of the world.	Perception.
Some consumers worry that they will be affected by marketing messages without even knowing it. They are concerned with____advertising.	Subliminal.
_____Describes changes in an individual’s behavior arising from experience.	Learning.
____are subtle stimuli that determine where, when, and how a person responds to an idea.	Cues.
A______is a person’s relatively consistent evaluations, feelings, and tendencies toward an object or idea.	Attitude.
The buying process starts with______, in which the buyer recognizes a problem.	Need recognition.
The most effective sources from which consumers obtain information are___because they legitimize or evalute products for the buyer.	Personal.
Relative advantage, compatibility, complexity, divisibility, and communicability are all examples of____.	Product characteristics that influence rate of adoption.
Gen Xers make up a_____.	Subculture.
A shoe company uses ads featuring the members of a country music band with the hope that the band’s fans will see them wearing the company’s shoes and want to wear the same shoes. The shoe company is hoping that fans of the band view the band as a_______>	Reference group.
According to one analyst, a Harley-Davidson motorcycle can make you feel like “the toughest, baddest guy on the block.” Harley-Davidson promotes its motorcycles with images of independence, freedom, and power. Harley-Davidson has created a_____.	Brand personality.
Pat thought he had receive the best deal on his new car. Shortly after the purchase, Pat started to notice certain disadvantages of his new car as he learned more about the other cars available. Pat is experiencing____	Post purchase dissonance.
As a purchasing agent, Benni Lopez buys goods and services for use in the production of products that are sold and supplied to others. Benni is involved in______.	Business buyer behavior.
Which of the following is true about business markets in comparison to consumer markets?	They deal with far fewer but far larger buyers.
Large business purchasers usually call for detailed product specifications. These are all examples of how the business buying decision process is more____than the cosumer buying decision process.	Formalized.
In a typical organization, buying activity consists of two major parts: the buying___and the buying____.	Center; decision process.
A________controls the flow of information to others in the buying center.	Gatekeeper.
A buying center is not a fixed, formally identified unit within an organization, but rather a set of_______assumed by different people for different purchases.	Buying roles.
The first step of the business buying process is_____.	Problem recognition.
In the case of maintenance, repair, and operating items, buyers may use a____rather than periodic purchase orders.	Blanket contract.
In which stage of the business buying process is a supplier’s task to make sure that the supplier is giving the buyer the expected satisfaction?	Performance review.
A problem with the rapidly expanding use of e-purchasing is that it_____.	Can erode customer-supplier relationships.
The leading barrier to expanded electronic links with customers and partners online is_____.	Concern over security.
Firewalls and encryption are______.	Two commonly used techniques to safeguard Internet and extranet transactions.
Sage, Inc, provides food services to schools, hospitals, and nursing homes in the Midwest. Management at Sage is involved in the _____market.	Institutional.
There are many factors considered in government buying, but______is above all, the most important.	Price.
Giant Food Stores buy a lot of frozen turkey products at Thanksgiving and Christmas due to high consumer demand. This is an example of______demand.	Derived.
ABC Enterprises sold 9,000 units at $2.99/unit in July. The firm sold 9,000 units at $4.29/unit in August. This illustrates_____demand.	Inelastic.
UPS has become a strategic logistics ally for many of its business customers, going far beyond offering delivery services to offering inventory management, international trade management, ect. This is an example of what?	Buyers and sellers in the business markets build close, long term relationships.
You regularly purchase cleaning supplies for your custodial staff, using the same vendor and ordering relatively consistent amounts of the same products with each purchase. This is an example of a_____.	Straight rebuy.
Pace Hardware uses Learningnow.com to improve sales force effectiveness and facilitate the sharing of expertise.	Extranet.
Which of the following was most likely being used when Boeing received orders for $100 million in spare parts in the first year its Web sit was in operation?	E-procurement.

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Marketing Q4 MC