3&4 Flashcards
Information in our long-term memory is not stored randomly, but can be thought of as being kept in a ranked system of mental files.
True
A consumer engaged in peripheral route processing is more likely to make an impulse buy than a consumer engaged in central route processing.
True
Zainab wants to make an omelet for dinner, but she is out of eggs. Negative motivation is the force that moves Zainab to go to the grocery store to buy eggs.
True
Tamika breaks her phone while she is out dancing one night. When looking for a new phone, she goes to the store and considers the newer model of her old phone plus two other companies’ phones that have similar prices but different features. These two other brand phones make up Tamika’s evoked set.
True
In terms of the human communication process model, what role does the sponsor of the advertisement play?
Source
Alan did not notice the ad for Goodwater riding equipment in Western Horseman because he was much more interested in an article on Argentinian cowboys on the page opposite the equipment ad. In terms of the communication process, the article on Argentinian cowboys served as _____ for the Goodwater ad.
noise
Thomas was planning on seeing a movie last weekend. After trying and failing to read the small print which told the times the movie would be shown, he gave up and decided to go to the zoo instead. In this case, _____ screens influenced his perception.
physiological
Destini is looking to diversify her investments. She talks to her grandmother and then reads up on several companies she might buy stock in before discussing them with her financial advisor. Which of the following best describes the method Destini is using to learn more about her investing options?
cognitive theory
Gopal bought a Schwinn road bike in good condition from a used bike shop for $160, thinking he got a steal. When he got home and searched for his bike on the Internet, he found the same model for sale from Walmart for $149 new. Rather than getting upset at the price difference, Gopal justifies the purchase to himself by deciding it was better to support a local bike shop than a chain. Gopal’s rationalization is an example of someone trying to
reduce cognitive dissonance.
Which of the following promotions is intended to help the advertiser meet the goal of habit reinforcement?
For every ten cups of coffee you purchase at a local convenience store, you get one free.
Utility
A products ability to satisfy both functional needs and symbolic or psychological wants. A prodcuts problem-solving potential may include form, task, posessession, time or place utility
Communicating product utility is an essential component of marketing success.
True
The process of market segmentation is a three-step process that begins with planning, defining the product, and identifying the market.
False
Demographic segmentation would most likely be used to sell Fulla, a doll designed to embody the image of a proper Muslim woman.
True
Psychographics are useful in the marketing of all products because psychographic systems, such as VALS, are easy to use.
True
An example of a private label brand is Costco’s Kirkland brand.
True
Harris Teeter Inc. is a chain of supermarkets in the Atlanta area. In one of its stores in a predominantly Jewish neighborhood, the store has three rabbis on staff who make sure the foods sold at the store are kosher. Every Harris Teeter store has distinct characteristics that align it with the neighborhood in which it is located. The chain is using _____ segmentation.
geodemographic
Over the past decade, brands that were once available only to the wealthy have created more affordable product extensions, giving a far broader range of consumers a taste of the good life. Jaguar, for instance, launched its X-type sedan, which starts at $30,000 and is meant for the “almost rich” consumer who aspires to live in luxury. By marketing to people who desire a luxurious lifestyle, Jaguar is using
psychographic segmentation.
Which of the following is a limit of consumer segmentation methods?
For some products psychographics may offer little real value, as it oversimplifies consumer personalities and purchasing behavior.
In order to get the iPad ordered at retailers like Best Buy, Apple drove up demand through advanced advertising to consumers. Apple knew that consumer demand influences which products the tech retailers would carry. This was an example of
Pull Strategy
When Hannah buys almond soap from a vendor at an arts and crafts show, and the vendor who sells the soap is actually the person who made the soap from scratch, that is an example of
direct distribution
exchange
the trading of one thing of value for another thing of value
target market
themarket segment or group within the market segment toward which all marketing activities will be directed
target audience
the specific group of individuals to whom the advertising message is directed
consumers
people who buy products and services for their own or someone else’s use
business advertising
Advertising directed at people who buy goods and services for resale for use in a business or organization or for manufacturing other products
behavioristic segmentation
method of segmenting consumers based on the benefits being sought
user status
six categories into which consumers can be placed, which reflect varying degrees of loyalty to certain brands and products. The categories are sole users, semisole users, discount uses, aware nontriers, trial/ rejectors, and repertoire users
volume segmentation
defining consumers as light, medium, or heavy users of products
usage rates
the extent to which consumers use a product, light, medium, or heavy
purchase occasion
a method of segmenting markets on the basics of when consumers buy and use a good or service
benefits
the particular product attributes offered to customers, such as high quality, low price, status, speed, sex appeal, good taste, and so on.
benefit segmentation
method of segmenting consumers based on the benefits being sought
geographic segmentation
a method of segmenting markets by geographic regions based on the shared characteristics needs, or wants of people within a region
demographic segmentation
based on a population’s statistical characteristics such as gender, age, ethnicicity, education, occupation, income, or other quantifiable factors
geodemographic segmentation
combining demographics with geographic segmentation to select target markets in advertising
psychographic segmentation
method of defining consumer markets based on psychological variables including values, attitudes, personality, and lifestyle
psychographics
the grouping of consumers into market segments on the basis of psychological marke up values attitude personality and lifestyle
primary motivation
the pattern of attitudes and activities that help people reinforce, sustain, or modify their social andself-image. An understanding of the primary motivation of individuals helps advertisers promote and sell goods and services.
resources
a term in the values and lifestyles typology relating to the range of psychological, physical, demographic, andmaterial capacities that consumers can draw upon. The resource axis includes education, income, self-confidence, health, eagerness to buy, and energy level
business markets
organizations that buy natural resource, component products, and services that they resell, use to conduct their business, or use to manufacture another product
north american industry classification system codes
method used by the us department of commerce to classify all businesses. the naics codes are based on broad industry groups, subgroups, and detaield groups of firms in smaller lines of business
primary demand trend
the projection of future consumer demand for a product category, based on past demand and other market influences
target marketing
the process by which an advertiser focuses as marketing efforts on a target market
target market
the market segment or group within the market segment toward which all marketing activities will be directed
product concept
the consumer’s perception of a product as a bundle of utilitarian and symbolic values that satisfy functional, social , psychological and other wants and needs
marketing mix
four elements called the 4Ps (product, price, place, and promotion), that every company has the option of adding, subtracting, or modifying in order to create a desired marketing strategy
four Ps
product, price, place, and promotion used by every company
product element
the most important element of the marketing mix: the good or service being offered and the values associated with it including the way the product is designed and classified, positioned, branded, and packaged
product life cycle
Progressive stages in the life of a product including introduction growth maturity and decline that affect the way a product is marketed and advertised
early adopters
prospects who are most willing to try new products and services
primary demand
consumer demand for whole product category
Introductory Phase
the initial phase of the product life cycle (aka pioneering phase) when a new product is introduced, costs are highest, and profits are lowest
pull strategy
marketing and advertising and sales promotionactivities aimed at inducing trial purchase and repurchase by consumers
push strategy
marketing advertising andsales promotion activites aimed at getting products into the dealer pipeline and accelerating sales by offering inducements to dealers retailers and salespeople
growth stage
the period in a product life cyclethat is marked by market expansion as more and more customers make their first purchases while others are already making their second and third purchases
maturity stage
that point in the product life cycle when the market has become saturated with products, the number of new customers has dwindled and competition is most intense
selective demand
consumer demand for the particular advantages of one brand over another
decline stage
the stage in the product the cyrcle when sales begin to ddecline due to obsolence new tech or changing consumer tastes
