Chapter 1 Flashcards
Social marketing (“targeted individuals or society as a whole”)
Mia is concerned how her marketing activities will affect “individual consumers as well as society at large”. Mia is implementing “Social marketing”
application of marketing strategies and tactics to alter or create behaviors that have a positive effect on the “targeted individuals or society as a whole”
Which of the following is used by firms to influence consumers A. ads B. packages C. store environments D. sales pitches E. all of the above
E. all of the above
To survive in a competitive environment, an organization must provide its target customers more \_\_\_\_\_ than is provided to them by its competition. A. product B. service C. value D. feedback E. attention
C. value
The difference between all the benefits derived from a total product and all the costs of acquiring those benefits is known as \_\_\_\_\_. A. price B. position C. consumer behavior D. customer value E. equity
D. customer value
It is critical that a firm consider value from which perspective? A. the competition's B. the firm's C. the customer's D. the government's E. the industry's
C. the customer’s (“value” “customer”)
Marketing strategy begins with _____.
Harold is tasked with developing the marketing strategy for his family's business. What should he do first? A. market segmentation B. targeting C. conducting an outcomes assessment D. objective setting E. conducting a market analysis
E. conducting a market analysis
Marketing strategy is formulated in terms of the marketing mix; that is, it involves determining the "product, features, price, communications, distribution, and services" that will provide customers with superior value. This entire set of characteristics is often referred to as the \_\_\_\_\_. A. total product B. customer value C. offering D. value proposition E. total value
A. total product (“product, features, price, communications, distribution, and services”)
An experience occurs when a company
intentionally creates a memorable event for customers (Disney World)
A shopper who cares about brand-name merchandise and convenience is known as a \_\_\_\_\_\_\_\_ shopper. A. destination B. brand C. basic D. enthusiast E. serious
E. serious
*Which of the following is a component of a "market analysis"? A. market segmentation B. objectives C. conditions D. price E. all of the above
C. “conditions”
(The state of the economy, the physical environment, government regulations, and technological developments affect consumer needs and expectations as well as company and competitor capabilities)
*Darren is “conducting a market analysis” for his business, and he has asked your advice on what he should be analyzing. Which of the following should he consider at this step of marketing strategy development?
A. the company’s own ability to meet customer needs
B. competitors’ capabilities and strategies
C. consumers’ needs
D. conditions in the market
E. all of the above
E. all of the above
“Market analysis” requires a thorough understanding of:
+ the company’s own ability to meet customer needs
+ competitors’ capabilities and strategies, consumers’ needs
+ conditions in the market.
Jamie is developing a "thorough understanding" of his company's own capabilities; the capabilities of current and future competitors; the consumption process of potential customers; and the economic, physical, and technological environment in which these elements interact. Which step in the marketing strategy process is Jamie performing? A. setting objectives B. segmenting the market C. conducting a market analysis D. assessing the outcomes E. targeting the market
conducting a “market analysis” (company, competitor…)
Market analysis requires a thorough understanding of the company’s own ability to meet customer needs, competitors’ capabilities and strategies, consumers’ needs, and conditions in the market.
Which of the following aspects is evaluated when determining a firm's ability to meet customer needs? A. financial condition B. general managerial skills C. production capabilities D. technological sophistication E. all of the above
E. all of the above
*Which of the following is "NOT evaluated when analyzing a company's own ability to meet customer needs"? A. competitors B. financial strengths C. general managerial skills D. production capabilities E. reputation
A. competitors (outside factor)
Tracking consumers’ online activity and delivering specific banner ads based on that activity
behavioral targeting
A portion of a larger market “whose needs differ somewhat from the larger market” is referred to as a(n)
market segment
*What is the first step in market segmentation?
Carlos is attempting to segment the market for his company’s products. Where should he begin?
A. describe each group
B. group customers with similar needs sets
C. identify product-related need sets
D. select an attractive segment to serve
E. set objectives for segmenting
C. identify product-related need sets
*What is the LAST step in market segmentation?
A. describe each group
B. select an attractive segment(s) to serve
C. identify product-related need sets
D. group customers with similar need sets
E. decide the segmenting scheme
B. select an attractive segment(s) to serve
*Which of the following is NOT a step in market segmentation?
A. set budget
B. identify product-related need sets
C. group customers with similar need sets
D. describe each group
E. select an attractive segment(s) to serve
A. set budget
Which term reflects the fact that most products in developed economies satisfy “more than one need”?
Barry is looking for a car that is dependable yet stylish enough to let others know that he has achieved a respectable status in his life and career. "He also wants it to be a high-performance automobile." Dependability, status, and performance represent Barry's \_\_\_\_\_. A. multiplicity B. duplicity C. need array D. need set E. value proposition
D. need set
Which of the following is used to describe a group of consumers with "similar needs sets"? A. demographics B. lifestyles C. media usage D. A and B E. A, B, and C
E. A, B, and C
Which of the following is used to evaluate the attractiveness of various market segments? A. segment size B. distribution available C. fit with company image D. cost to serve E. all of the above
E. all of the above
*Juan has segmented the market for boats and is currently analyzing each with respect to several factors, such as size, growth rate, competitor strength, fit with company image, distribution available, cost to serve, and risk “before deciding which segment to target”. Which step of market segmentation is Juan conducting?
A. identifying product-related need sets
B. grouping customer with similar need sets
C. describing each group
D. selecting an attractive segment(s) to serve
E. profiling current customers
D. selecting an attractive segment(s) to serve
Which of the following is part of the marketing mix? A. product B. price C. communications D. distribution E. all of the above
E. all of the above
A(n) \_\_\_\_\_ is anything a consumer acquires or might acquire to meet a perceived need. A. satisfier B. end state C. product D. value proposition E. outcome
C. product
\_\_\_\_\_ include(s) advertising, the sales force, public relations, packaging, and any other signal that the firm provides about itself and its products. A. Value promotions B. Brand equity C. Distribution D. Market segmentation E. Marketing communications
E. Marketing communications (not D. Market segmentation)
Which of the following is NOT a critical question for developing marketing communications?
A. Who do we want to communicate with?
B. What effect do we want to have?
C. What message will achieve the desired result?
D. What media should we use?
E. All of the above are critical questions.
E. All of the above are critical questions.
_____ is the amount of money one must pay to obtain the right to use the product.
Amy purchased a new 32-inch LCD high-definition television and paid $400 for it. This amount of money Amy had to pay to obtain this product is known as the \_\_\_\_\_. A. Consumer cost B. Total cost C. Price D. Value E. Customer value
C. Price (amount of money) (not choose “cost)
_____ is everything the consumer must surrender in order to receive the benefits of owning/using the product.
Timothy and his wife are considering the purchase of a new car. In addition to the price, they are also considering the cost of insurance, gasoline, maintenance, finance charges, and license fees. All of these factors combined represent the \_\_\_\_\_. A. Value B. Consumer cost C. Price D. Opportunity cost E. Value proposition
B. Consumer cost (everything the consumer must surrender)
Which element of the marketing mix is concerned with having the “product available” where target customers can buy it?
Tony's job entails "making sure his company's products get to retailers" so that target customers can buy them. Which element of the marketing mix is Tony involved with? A. product B. price C. distribution D. communications E. placement
C. distribution
*Auxiliary or peripheral activities that are performed to enhance the primary product or primary service are referred to as \_\_\_\_\_. A. service B. supplemental product C. intangible benefits D. secondary product E. ancillary attributes
A. service
*Which of the following is “NOT” considered one of the firm’s “outcomes of the marketing strategy and consumer behavior process”?
A. product position
B. customer satisfaction
C. service
D. sales and profits
E. All of the above are considered outcomes for the firm.
C. service
John purchases and is satisfied with his SUV because he believes that it provides greater crash safety than a sedan even though this is not technically true. John’s satisfaction is based on the distinction between _____.
A. primary need fulfillment and secondary need fulfillment
B. actual need fulfillment and perceived need fulfillment
C. initial need fulfillment and repeat need fulfillment
D. articulated need fulfillment and unarticulated need fulfillment
E. attribute fulfillment and benefit fulfillment
B. actual need fulfillment and perceived need fulfillment
_____ occurs when individuals or groups make consumption decisions that have negative consequence for their long-run well-being.
Bob and his friends go out every weekend and drink until they get drunk. Then they drive home in that condition. Which type of consumption does this represent?
A. Disintermediation
B. Conspicuous consumption
C. Disenfranchisement
D. Injurious consumption
E. Demarketing
Injurious consumption
_____ occurs when individuals or groups make consumption decisions that have “negative consequence” for their long-run well-being.
Bob and his friends go out every weekend and "drink until they get drunk". Then they drive home in that condition. Which type of consumption does this represent? A. Disintermediation B. Conspicuous consumption C. Disenfranchisement D. Injurious consumption E. Demarketing
Injurious consumption
*Which of the following is NOT a societal outcome of marketing strategy and consumer behavior?
A. economic outcomes
B. customer satisfaction
C. physical environment outcomes
D. social welfare
E. All of the above are societal outcomes.
NOT a societal outcome: B. customer satisfaction
societal outcome: economic, physical environment outcomes
Which is NOT a step in the consumer's decision process? A. information search B. post purchase processes C. problem recognition D. alternative evaluation and selection E. self-concept analysis
E. self-concept analysis
Which of the following is an internal influence on consumer behavior? A. culture B. family C. attitudes D. marketing activities E. reference groups
Which is NOT an external influence on consumer behavior? A. culture B. family C. social status D. perception E. marketing activities
C. attitudes
D. perception
Which of the following is an "internal" influence on consumer behavior? A. culture B. family C. attitudes D. marketing activities E. reference groups
Which is "NOT an external" influence on consumer behavior? A. culture B. family C. social status D. perception E. marketing activities
Internal
C. attitudes
D. perception
Teresa is trying to understand her customers better. She is examining the external influences that shape her customers' self-concepts and lifestyles. Which of the following is a possible "external influence Teresa could examine"? A. motives B. personality C. perception D. attitudes E. culture
E. culture
Culture is perhaps the most pervasive influence on consumer behavior.
Liz Claiborne is a brand of clothing, accessories, and home products. Brand managers at this company are trying to learn which internal influences impact their customers' needs and desires most. Which of the following is a possible "internal influence these managers should examine"? A. culture B. personality C. demographics D. family E. social status
B. personality
Personality is an individual’s characteristic response tendencies across similar situations
The totality of an individual's thoughts and feelings about him or herself is known as \_\_\_\_\_. A. lifestyle B. self-concept C. internal influences D. external influences E. consumption outcomes
B. self-concept
not A. lifestyle
\_\_\_\_\_ represents how one lives, including the products one buys, how one uses them, what one thinks about them, and how one feels about them. A. Lifestyle B. Self-concept C. Position D. Status E. Social class
A. Lifestyle
According to the "Consumer Insight" in your text, buying auto insurance represents which form of consumption meaning? A. mundane B. avoidance C. innovative brands D. function E. none of the above
B. avoidance
Shoppers who only care about mall essentials are known as …
basic shoppers
The term used to reflect the fact that most products in developed economies satisfy more than one need is …
need set
The outcomes of a firm’s marketing strategy are determined by its interaction with the consumer decision process.
True False
True
Two key processes involved in need satisfaction are the actual need fulfillment and the perceived need fulfillment.
True False
True
A consumer’s needs and desires are shaped by his or her self-concept and lifestyle.
True False
True
Lifestyle is the totality of an individual’s thoughts and feelings about him or herself.
True False
False
Lifestyle is the totality of an individual’s thoughts and feelings about him or herself.
True False
False -> self-concept