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MKT 300 Exam 2
| Question | Answer |
|---|---|
| How much memory left after one month? | 20 percent |
| when multiple homogeneous stimuli are presented, the stimulus that differs from the rest is more likely to be remembered. | Von Restorff effect |
| Describes how consumers make purchase decisions and how they use and dispose of the purchased goods and services. It includes factors that influence purchase decisions. | Consumer Behavior |
| in evoked set model, known brands is | Awareness set |
| in evoked set model, decide the known brand is acceptable or unacceptable is : | Evoked set |
| in evoked set model, the acceptable known brand is : | Consideration set |
| In evaluate alternatives, use Cost - Benefit analysis Which one does the positives most outweigh the negatives? | Compensatory Models |
| In evaluate alternatives, Immediate rejection based on some factor is: | Non-compensatory Models |
| Multi-Attribute belongs which model? | Compensatory Models |
| Conjunctive and Lexicographic belong to which model? | Non-compensatory Models |
| Weighted total derived by multiplying importance rating by your evaluation | Multi-Attribute |
| Reject any brands that do not meet ALL minimum thresholds and must must meet standards for this attribute and the second attribute and the third attribute | Conjunctive |
| Best on most important attribute | Lexicographic |
| A buyer’s doubts shortly after a purchase about whether the decision was the right one | Cognitive Dissonance |
| In social influence, Actions and activities that a person in a particular position is supposed to perform based on expectations of the individual and surrounding persons | Role |
| Factors Influencing Purchase | Situational, social, psychological |
| In social influence, Indirect membership, positively affected by the member and want to be a member | Aspiration |
| In social influence, Indirect membership, negatively affected by the member and do not want to be a member | Dissociative |
| In social influence, A knowledgeable, accessible individual who provides information about a specific sphere of interests to followers | Opinion Leader |
| In social influence, The accumulated values, knowledge, beliefs, customs, objects, and concepts of a society | Culture |
| In social influence, Groups of individuals whose characteristic values and behavior are similar, but also differ, from those of the surrounding culture | Sub-Culture |
| In psychological influences: perception, the process of selecting inputs to be exposed to our awareness while ignoring others | selective exposure |
| In psychological influences: perception, an individual’s changing or twisting of information when it is inconsistent with personal feelings or beliefs | selective distortion |
| In psychological influences: perception, remembering information inputs that support personal feelings and beliefs and forgetting inputs that do not | selective retention |
| the consistent patterns of behavior that people show with regard to social situations (e.g. cognitive style) | Personality |
| refers to our internal characteristics; | Personality |
| refers to the external characteristics of how one lives | lifestyle |
| An individual’s pattern of living expressed through activities, interests, and opinions | Lifestyle |
| the consumer selects products and stores that correspond to their self-concept | Image congruence hypothesis |
| In personality trait examples, Dogmatism is | open/closed mindedness |
| In personality trait examples, ability to look to others for clues on how to behave | Self-monitoring |
| In personality trait examples, Need for cognition is | Pleasure from thinking |
| In personality trait examples, Innovativeness is | Have to have latest |
| In personality trait examples, Materialism is | Need to possess |
| In personality trait examples, Compulsive consumption is | Have to spend it |
| In personality trait examples, Variety/Novelty seeking is | Different experiences |
| a need (biogenic or psychogenic) that is sufficiently pressing to drive a person to act | A motive |
| in personality of color, Respect, authority | Blue |
| Powerful, informal - bright | Orange |
| Secure, natural | Green |
| Hot, strong - food smells better | Red |
| Relaxed, masculine | Brown |
| Purity, goodness - Low calories | White |
| Power, mystery - high-tech | Black |
| Wealthy, stately - premium priced | Platinum, Silver/gold |
| Represent the knowledge a consumer has about objects, their attributes, and their benefits provided, both Objective/subjective | Beliefs |
| In attitude formation, If highly motivated/involved, people likely use what processing | central-route |
| In attitude formation, If not highly motivated, what processing is used | peripheral-route |
| Can I predict your behavior based on your beliefs and normative influences? Also called the Behavioral Intentions Model | theory of reasoned action |
| Belief about the consequences of act, Evaluation of the consequences of an act, attitude forward the act is what kind of influence? | Internal influence (Act) |
| Normative belief, motivation to comply with this significant person is what kind of influence? | External influence (SN) |
| Behavior (B)results from the formation of what? | specific intentions to behave (BI) |
| Act is | belief about consequences(bi) x (evaluation of consequences (ei)) |
| SN is | belief of important people NBj)) x (motivation to comply (MCj)) |
| When do attitudes predict behavior? | Involvement/effort, Knowledge, Confidence, and Peer pressure is high (Penny's image) |
| The systemic design, collection, analysis, and reporting of information to help marketers solve specific marketing problems or take advantage of marketing opportunities | Marketing Research |
| In the purpose of marketing research, gathering and presenting tactual statement is | descriptive |
| In the purpose of marketing research, Explaining data is | diagnostic |
| In the purpose of marketing research, attempting to estimate the results of a planned marketing decision is | predictive |
| benefits of market research | spend 11.5 million dollars every year |
| is perceived meanings of data collected from the study of consumer behavior. | Customer Insight (from data to insight (attract and retain)) |
| in problem definition, A broad-based problem that requires marketing research in order for managers to take proper actions | Management Decision Problem |
| in problem definition, Determining what information is needed and how that information can be obtained efficiently and effectively. | Marketing Research Problem |
| in problem definition, The specific information needed to solve a marketing research problem; the objective should provide insightful decision-making information. | Marketing Research Objective |
| an overall plan for obtaining information needed to test a specific hypothesis is: | research design |
| the research technique produces almost identical results in repeated trials is, (consistency on time) | Reliable |
| the research method measures what it is supposed to measure | Valid |
| the sample is similar to the population we’re interested in | Representative |
| what type of research data it is , if Information collected first hand specific to your purpose. Surveys, interviews, experiments | Primary Data |
| what type of research data it is , if Information previously collected. and it is Census data, internet sources | Secondary Data |
| In Research Design Categories, it is Sheds light on problem - suggest solutions or new ideas (focus groups) or just take action to the problem | Exploratory |
| In Research Design Categories, Determines magnitude or defines variables (what, when ,how) | Descriptive |
| In Research Design Categories, Tests hypotheses about cause- and-effect relationships or why you do it | Explanatory |
| The most qualitative Research Design Categories is : | Exploratory |
| The most quantitative Research Design Categories is : | Explanatory |
| The study of human behavior in its _natural context, involves observation of behavior and physical setting | Ethnographic Research |
| In designing the research project's Measurement Scales, which is about Yes-No; Male-Female | Nominal |
| In designing the research project's Measurement Scales, which is about Indicating level of education: High School, Some college, Bachelors, Graduate degree | Ordinal |
| In designing the research project's Measurement Scales, which is about Measurement of distance/length | Ratio |
| unstructured, word association, sentence completion designing the research project's question: | Open-ended questions |
| true/false; yes/no question is what kind of designing the research project's question: | Dichotomous |
| Dichotomous, Multiple choice, Scaled response questions is : | Closed-ended questions |
| opinions of the following groups is what kind of scale (ex: extremely negative to extremely positive) | Likert scale: |
| The scale of different objects that is easy to place the order yourself: | Semantic Differential Scales |
| The market usually represents good sales potential for both the product and the brand | High BDI High CDI |
| The product category shows high potential but the brand isn’t doing well the reason should be determined | Low BDI High CDI |
| The category isn’t selling well but the brand is; may be a good market in which to advertise but should be monitored for sales decline | High BDI Low CDI |
| Both the product category and the brand are doing poorly; not likely to be a good place to advertise | Low BDI Low CDI |
| Learning your own culture | Enculturation |
| Learning a new/foreign culture Theory of Reasoned Action example | Acculturation |
| Home society impacted by other cultures | Reverse Acculturation |
| Corporate Social Responsibility (from low to high) | economic (be profitable) , legal (obey the law; play by the rules of the game), ethical (do what is right, just, and fair; avoid harm), philanthropic (contribute resources to the community; improve quality of life) |
| in Strategic Philanthropy, The practice of linking products to a particular cause on an ongoing or short-term basis | cause-related marketing |
| in Strategic Philanthropy, The specific development, pricing, promotion, and distribution of products that do not harm the natural environment | green marketing |
| The adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities expected by stakeholders. | Marketing Citizenship |
| In Ethical Development Levels, Based on what will be punished or rewarded Self-centered, calculating, selfish | Preconventional Morality |
| In Ethical Development Levels, Moves toward the expectations of society Concerned over legality and the opinion of others | Conventional Morality |
| In Ethical Development Levels, Concern about how they judge themselves Concern if it is right in the long run | Postconventional Morality |
| More Childlike Ethical Development Levels is | Preconventional Morality |
| More More Mature Ethical Development Levels is | Postconventional Morality |
| Production of uniform products that can be sold the same way all over the world | Global Marketing Standardization |
| Same Product, Same Message | One product , one message |
| Change Product, Same Message | Product Adaption |
| Same Product, change Message | Message Adaption |
| Change Product, change Message | Product Invention |
| Sell domestically produced products to buyers in other countries | Export |
| Legal process allowing use of manufacturing/patents/knowledge. | Licensing |
| Private-label manufacturing by a foreign country | Contract Manufacturing |
| Domestic firm buys/joins a foreign company to create new entity. | Joint Venture |
| Active ownership of a foreign company/manufacturing facility. | Direct Investment |
| is a written document that defines the operational and financial objectives of a business over a particular time, and defines how the business plans to accomplish those objectives | Business Plan |
| Marketing Plan Should Have/Be | Realistic , Achievable, Measured, Committed Resources, Clear Requirements |
| Business Plan is written to | managers, investors, Stakeholders |
| is a document that includes an assessment of the marketing situation, marketing objectives, marketing strategy, and marketing initiatives. | Marketing Plan |
| Marketing’s role | Market analysis, Monitor results, How objectives will be achieved |
| Purposes And Significance Of The Marketing Plan | Communicating the strategy to top executives is paramount |
| Written with senior leadership as primary audience, - Goals - Recommendations | Executive Summary |
| Includes historical information on business and products, and the company’s core competencies and reason for existence | Company description, purpose, and goals |
| Contains assessments of: - Customers - Competitors - Product portfolio - Distribution channels - Marketing environment | Marketing situation |
| Anticipated outcome if marketing objectives are met. | Forecasting |
| What actions should be taken to meet objectives. - Target market - Positioning - Marketing mix | Marketing strategy |
| How to monitor progress toward meeting objectives? - Financial factors - Nonfinancial factor | Measurement and control |
| Contains more detailed information about research methods and procedures and important data gathered | technical report |
| Take an objective look at survey findings | executive summary, recommendation, technical report, limitation, next step |
| BDI (Brand Development Index) | (Percentage of brand to total U.S sales in market/Percentage of total U.S population in Market) *100% |
| CDI (Category Development Index) | (% of product category total sales in market/ % of total population) *100% |
| includes all marketing activities conducted at an international level by individuals or businesses. | Global marketing |
| Global marketing benefits : | Access foreign investment, Overcome trade barriers, Enhance brand image, Gain scale economies, Access lower costs, Offset domestic cycles |
| Global Marketing Miscues | If I am selling to you, I speak your language. If I am buying from you, dann müssen Sie in meiner Sprache sprechen.( German Chancellor Willy Brandt ) |
| an identifiable problem, situation, or opportunity requiring a choice among several actions that must be evaluated as right or wrong, ethical or unethical | ethical issues |
| Marketing Channel Members (fulfill social responsibility ) | long-term partnerships trusting relationships |
| Employees (fulfill social responsibility ) | improved self-concept increased commitment and motivation reduced absenteeism and turnover trust in co-worker relationships |
| Firms( fulfill social responsibility ) | reduce the costs of: legal violations civil litigation damaging publicity |
| Customers (fulfill social responsibility ) | positive product evaluation customer loyalty positive word-of-mouth long-term relationships enhanced corporate reputation |
| The specific development, pricing, promotion, and distribution of products that do not harm the natural environment | green marketing |
| The practice of linking products to a particular cause on an ongoing or short-term basis | cause-related marketing |
| an organization’s obligation to maximize its positive impact and minimize its negative impact on society | social responsibility |
| Food | Local tastes Differences from where you’re from |
| Attitude | Attitude (information and knowledge) = cognition (feelings and emotions)+ affects + behaviors (actions) |
| Market research process | 1. Define the problem 2. Design the research 3. conduct the research 4. analyze the data 5. address the problem |
| Temperature Is 80C twice as hot as 40C | interval |
| social influences | role, reference group, opinion leader, social class, culture |
| psychological influences | perception, learning, personality and self-concept, lifestyle, motivation, beliefs, attitudes |
| novelty, caution, eye-catching | yellow |
| Central-Route processing: Theory of reasoned action | A(act) + (SN) = BI= B |
Created by:
11223366