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Marketing Exam #2
Clicker Questions
| Question | Answer |
|---|---|
| Management Decision Problem (MDP) Should a new product be introduced? | To determine consumer preferences and purchase intentions for the proposed new product. |
| MDP: Should the advertising campaign be changed? | To determine the effectiveness of the current advertising campaign |
| MDP: Should the price of the brand be increased? | To determine the price elasticity of demand and the impact on sales and profits of various levels of price changes. |
| You are considering questions to ask potential adult customers in a market survey- Which question best defines the problem you would like to solve? | Would you consider buying flavored milk hat was designed for adults if it were available? |
| Which of the following identifies the first step that you should take in your research? | Define the problem that your research is going address. |
| One option you are considering is focusing your research exclusively on health-conscious adults. You want to know how interested this group would be in purchasing flavored milks. Which statement best describes the flaw in this approach? | It leaves out non-health-conscious adults who could be potential customers. |
| A complete market research program will include both primary and secondary sources. Which of the following is a secondary source? | published accounts of demographics for all types of beverages |
| You are trying to decide between two research options â observing customers making drink purchases live or conducting a survey. Which of the following is a major disadvantage of observing consumers making purchases live? | Observational studies are usually not focused enough to answer research questions |
| You are conducting a test to quantify the point at which adults will purchase flavored milk. So far, almost no adults are purchasing flavored milk.Which step would you take to define the limit at which interest in flavored milks becomes strong? | Lower the price in small increments and monitor sales at each price |
| You have decided to conduct a survey. One of the options you are considering is a survey that is features mail questionnaires. Which of the following correctly identifies a reason for why you would choose not to conduct a mail questionnaire? | Only a small percentage of people respond to mail questionnaires |
| You are trying to decide whether to conduct telephone interviews or live, face-to-face interviews with potential flavored milk buyers. Which statement best clinches the case for telephone interviews? | Telephone interviews are less expensive to conduct than face-to-face interviews |
| You are passing out questionnaires for providing background information about subjects in a focus group.Which of the following questions would be least appropriate in your background information questionnaire? | Do you prefer flavored milk with or without coloring? |
| You're testing different slogans to go along with a poster showing a photo of 2 healthy young adults on break at the tennis court, drinking flavored milk. Which slogan best communicates goal to communicate to healthy adults? | |
| The real value of marketing research and marketing information lies in how it is used—in the ______ that it provides. | Customer Insights |
| A pet store offers shoppers a membership card. Members receive monthly mailings featuring coupons for the specific brand of pet food they purchased previously. This is made possible by: | The Internal Database |
| Part of your job entails monitoring several blogs to learn what consumers are saying about your products as well as your competitors’. You are gathering: | Marketing Intelligence |
| A bank surveys mortgage and loan holders to learn their household size, income, age, and marital status. The bank has engaged in: | Descriptive research |
| If your firm was interested in learning which of two television advertising campaigns would be most effective, the company should conduct: | Experimental research |
| Exploratory Research | Defines the problem and suggest the hypothesis |
| Descriptive Research | Describes things such as market potential, demographics, attitudes, etc. |
| Casual Research | Tests hypothesis about cause and effect relationships |
| When survey data must be collected quickly, the best data collection technique would be: | Online Surveying |
| Maria is selecting a research sample by finding and interviewing 25 males and 25 females in each of four geographic regions. Which type of sample is Maria using? | Quota Sample |
| Pupillometer tests in advertising measure a consumer’s pupil dilation as he or she views an advertisement. A pupillometer is an example of a(n): | Mechanical Device |
| ______ allows an organization’s suppliers, customers, and resellers to update account information, check purchases, and more. | An extranet |
| Two major public policy and ethics issues in marketing research are intrusions on consumer privacy and: | Misuse of Research Findings |
| THOSE WERE CHAPTER 4!!! | |
| As Manager at TriState Dairies, the job of developing plans to market a new line of products called Cow Power for kids. Your first task is to determine a target demographic for the product. Which approach is the worst choice? | Create a single line that is aimed at girls and assume it will appeal to boys as well. |
| One of the options you are considering is marketing Cow Power with a single unified approach that is aimed at both boys and girls. Which of the following is the greatest advantage of this approach? | It will be easier and less expensive to create and promote than separate campaigns for boys and girls |
| For boys, NFL quarterback as Cow Power’s sole spokesperson. An advisor thinks that is a mistake and that you should focus on a variety of figures from different sports.Is focusing the campaign on an NFL quarterback a good idea? | No, because focusing on football exclusively will make boys who enjoy other sports feel left out |
| In your efforts to brand for all kids — both genders with the same approach — you have come up with a number of ideas. Which of these ideas best suits your product and target demographic? | an endangered animal theme that features beautiful photos of jaguars, whales, and other creatures |
| You are considering colors and flavors for Cow Power. Which of the following is not an objection that is likely to be brought up for color and flavor additives? | Adding color or flavor will make the product too expensive to market. |
| Flavored milk for adults. Which of the following identifies the first step that you should take in your research? | Define the problem that your research is going address. |
| One of your options is to market Cow Power as a powder that kids could mix with milk. For which market segment would powdered Cow Power be most problematic? | Cow Power to be promoted as a sports drink for kids on the go |
| Gatekeeper | Controls the flow of information |
| Decider | Decides whether or not to buy |
| Buyer | Actually buys |
| User | Actually consumers |
| Disposer | Discontinues usage |
| Influencer | Provides information to others |
| You envision Cow Power as a treat that parents will give to kids as a reward. Which packaging size best suits your conception of Cow Power being an individual treat? | Half-pint |
| Your team is arguing about the formulation. One wants the product to be colored and flavored. Another manager wants just flavored, uncolored milk, while a third team member wants colored, unflavored milk.What would be the best way to resolve this issue? | Offer different formulations in focus groups, and see which one performs best. |
| You have made decisions on product formula, promotion, and packaging. It is now time to test your product. Which of the following test approaches is best for your product? | Conduct a focus group that is followed by a test run of Cow Power in a limited part of TriState’s distribution area. |
| Packaging in market tests experienced a problem: people don’t recognize Cow Power as real milk. Change packaging? Your boss, however, loves the packaging and thinks it can be made to work. Which of the following approaches is most likely to work? | In big bold letters, prominently feature the words MADE OF 100% MILK on the label. |
| As the marketing manager of Holden-Evan, Smoothsayer, an expensive new skin cream, is one of the products you are analyzing. Which of the following identifies the strongest reason for choosing social class as one of your segmentation variables? | Smoothsayer costs $300 a jar so it is not for everyone. |
| In promoting Smoothsayer, your first inclination is to target the 35 and up market. However, Smoothsayer is an effective acne fighter and protects against UV rays. How do these facts change your thinking about Smoothsayer’s target market? | Smoothsayer should be primarily targeted at the 35 and up market, but the younger market should not be ignored. |
| It seems clear that Smoothsayer has appeal to both. To reach both, launch two separate market campaigns, one aimed at the older market, the other aimed at the younger market. Which conclusion is the best response to this suggestion? | It is a good idea as long as the two market campaigns are designed to complement one another. |
| An advisor points out that Smoothsayer has qualities that would benefit men as much as they would women. He strongly suggests that you include men in your target audience. Which of the following identifies the best response to this suggestion? | Until men are shown to actually buy beauty creams they should not be targeted. |
| You are considering making teens 13-19 as your primary target market. An advisor tells you that you are making a mistake. Which of the following statements best supports your advisor’s position? | Most teens do not have enough disposable income to purchase Smoothsayer. |
| An advisor argues if you can get occasional users of beauty creams to purchase Smoothsayer, you will be moving into an untapped market and gaining new customers. Wants primary. Which of the following statements best argues against this suggestion? | You would need to obtain several occasional users to equal the purchases of a single daily user. |
| A marketing VP is promoting the idea that Smoothsayer makes a great gift. Which of the following would make the best advertising venue for promoting Smoothsayer as a gift? | NFL football |
| You have decided to promote two key differences to distinguish Smoothsayer from its competitors. Which pair of key differences correctly identifies the most broad or the most narrow demographic? | most broad: higher quality, UV protection |
| You have decided to promote Smoothsayer on a “more for more” campaign approach. Which of the following slogans matches a “more for more” style of promotion? | Expensive—and worth every penny |
| While watching the Super Bowl, you become intrigued by an ad for a radical new product, which you buy the following week. In this circumstance you are behaving like a(n): | Innovator |
| The speed of adoption for new products that are technologically advanced is particularly dependent upon which of the following new product characteristics? | Complexity |
| Business buyer demand is derived from: | Consumer demand |
| Dell manufacturers computers but purchases many of the components from other manufacturers. If Dell desires to renegotiate a more favorable purchase agreement or seeks a new supplier for a part, which type of buying situation fits this scenario? | Modified rebuy |
| Economic developments, technological changes, and culture and customs are among the ______ influences that impact business buyer behavior. | Environmental |
| All EXCEPT which of the following are examples of the first stage of the buying process? | A buyer invites qualified suppliers to submit proposals. |
| When purchasing goods and services, University Medical Center solicits bids on the Internet and awards their business to the low bidder. This is an example of a(n): | Reverse auction |
| Geographic Example | Continents: North America. Asia, Europe, etc. Within the US: Pacific, Mountain, central, northeast |
| Demographic Example | Age, gender, income |
| Psychographic Example | Lifestyle, self-concept, self-values |
| Geodemographic Example | Urban, established, sophisticated town-houses, affluent reirees |
| Benefits | Convenience, economy, prestige |
| Behavioral | Occasion, loyalty |
| Laurie purchases items for her family’s personal use, such as food and clothing. Laurie and her family are part of which market? | Business Consumption Current Consumer |
| After certain types of sales, marketers often send consumers communications to help them feel good about their purchases. Marketers do so in order to: | Increase variety-seeking behavior Encourage complex buying behavior Encourage habitual buying behavior Reduce cognitive dissonance |
| Consumers do not always assign the same meaning to a marketer’s message that was intended by the marketer. This is because of consumers’: | Expectations Selective distortion Selective perception Cognitive dissonance |
| Caroline is married with two children. She is a college graduate with a household income of $75,000 per year. What type of segmentation variables are being used to describe Caroline? | Demographic |
| Business buyers can be segmented by all of the following factors EXCEPT: | Psychographics |
| Innovators | Take charge, sophisticated, curious |
| Thinkers | Reflective, informative, content |
| Achievers | Goal oriented, brand conscious, conventional |
| Experiencers | Trend setting, impulsive, variety seeking |
| Believers | Literal, loyal, moralistic |
| Strivers | Contemporary, imitative, style-conscious |
| Makers | Responsible, practical, self sufficient |
| Survivors | Nostalgic, constrained, cautious |
| A company can lengthen its product line by ___ it or by ___ it. | filling; stretching |
| On the Interbrand scale who is number 1? | APPLE Products |
| On the Interbrand scale who are the others in the top five (numerical order from high to low)? | Google, Coca cola, IBM, and Microsoft |
| Where is FORD located on the Interbrand scale? | 39. But it is the top car company before any others |
| What is number 34 on the Interbrand scale? | Budweiser |
| STEP 1 in the Segmentation, Targeting and Positioning process? | Articulate the vision or objectives of the company's marketing strategy clearly. |
| STEP 2 in the Segmentation, Targeting and Positioning process? | Use a particular method or combination of methods to segment the market. This is where geographic, demographic, benefits, etc. come into play |
| Self Values | Goals for life, not just goals one wants to accomplish in a day. |
| Self-concept | The image people ideally have of themselves. |
| Lifestyle | The way we live. |
| VALS | Tool used to support the psychographic segmentation efforts. Describes us using Thinkers, Achievers, etc. |
| Benefit Segmentation | Groups consumers on the basis of the benefits they derive from products and services. |
| Occasion Segmentation | Behavioral segmentation based on when a product or service is purchased or consumed. |
| STEP 3 in the Segmentation, Targeting and Positioning process? | Evaluating the attractiveness of the various segments. |
| Identifiable | Firms must be able to identify who is within their market to be able to design products or services to meet their needs. |
| Sustainable | Once the firm has identified its potential target markets, it needs to measure their size. |
| Reachable | If the market can not be reached through persuasive communication then even the best product can have no impact |
| Responsive | To find success here, the customers in the segment must react similarly and positively to the firms offering. |
| Profitable | Marketers must focus their assessments on the potential profitability of each segment, both current, and future. |
| STEP 4 in the Segmentation, Targeting and Positioning process? | Select a target market |
| Undifferentiated Targeting Strategy | Focuses on the similarities in needs of the customers as opposed to the differences. |
| Differentiated Targeting Strategy | Target several market segments with different offering for each. (More costly for a firm) |
| Concentrated Targeting Strategy | When an organization selects a single, primary target market and focuses all its energies on providing a product to fit that market's needs. |
| Micromarketing or one-to-one-marketing | When a firm tailors a product or service to suit an individual customer's wants or needs, it is undertaking an extreme form of segmentation. |
| Cookies | small text files a website stores in a visitors browser, provide a unique identification of each potential customer who visits and details how the customer has searched the site. |
| Value proposition | Communicates the customer benefits to be received from a product or service and thereby provides reasons for wanting to purchase it. |
| Value | a popular positioning method because the relationship of price to quality is among the most important considerations for consumers when they make a purchase decision. |
| Need recognition | When consumers recognize they have an unsatisfied need and they would like to go from their actual, needy state to a different desired state. The greater the discrepancy between these to states the greater the need recognition. |
| Functional Needs | Pertain to the performance of a product or service |
| Psychological Needs | Pertain to the personal gratification consumers associate with a product and/or service. |
| Financial Risk | a risk associated with a monetary outlay and includes the initial cost of the purchase, as well as the costs of using the item or service. |
| Social Risk | The fears that consumers suffer when they worry others might not regard their purchases positively. |
| Physiological Risk | Refers to the fear of an actual harm should the product not perform properly. |
| Cognitive Component | Reflects a persons belief system |
| Affective Component | involves emotions, or what we feel about the issue at hand. |
| Behavioral Component | the actions we undertake based on what we know and feel. |
| Perception | the process by which we select, organize, and interpret information to form a meaningful picture of the world. |
| Reference Group | One or more persons whom an individual uses as a basis for comparison regarding beliefs, feelings, and behaviors. |
| Core Customer Value | defines the basic-problem solving benefits that consumers are seeking. |
| Actual product | Where attributes such as brand name and design are important, but the level of their importance varies, depending on the product. |
| Associated Services | Nonphysical aspects of the product, such as product warranties, financing, product support, and after-sale service. |
| Consumer Products | products and services used by people for their personal use. |
| Brand Equity | the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service. |
Created by:
klm151