Exam 1

Question 1

Prescriptive knowledge

Answer 1

type of knowledge develops marketing research-based inferences about how marketing organizations should strategically address problems or opportunities

Question 2

Market Researching Processes

Answer 2

marketing process must be analytical, fact-based, and data driven

Question 3

Two types of marketing research knowledge are the most relevant to most marketing organizations

Answer 3

Propositional and prescriptive knowledge.

Question 4

Caveat emptor

Answer 4

Buyer beware

Question 5

Automation bias

Answer 5

occurs when marketers place too much confidence in the accuracy of information provided by technology

Question 6

Which question would Ernest Dichter most likely recommend be used in order to gain insights about how to improve the quality of a soap brand?

Answer 6

Tell me how you feel about your bathing time

Question 7

Focus group discussions

Answer 7

designed and executed to secure consumer perceptions and insights about particular topics or areas of interest in non-threatening environments

Question 8

Cool-hunting

Answer 8

Making observations and predictions regarding how changes in the environment or cultural trends will lead to new hot opportunities

Question 9

Determinant

Answer 9

branding difference itself is genuine (real) and is important to customers as they make their choices among competing brands

Question 10

Prescriptive knowledge

Answer 10

Actionable insights about which strategic actions marketers should pursue to solve customer problems, secure gains from environmental opportunities, or avoid disastrous losses from environmental threats

Question 11

The price elasticity test

Answer 11

provides useful insights about how changes in pricing strategies will impact demand for individual brands or branded product lines

Question 12

Which statement best illustrates the concept of brands as Earnest Dichter defined them?

Answer 12

Brands embody values and meaning inside customers’ minds.

Question 13

Valid

Answer 13

marketing research information is secured from questions measuring exactly what they’re supposed to measure. Valid questions capture no more and no less information than what they purportedly measure

Question 14

Information analytical

Answer 14

step in the marketing research process develops strategic inferences

Question 15

What is the first step in the marketing research processes?

Answer 15

Define the research problem

Question 16

Percentage of the Gross Domestic Product in the US is typically driven by B2C decisions and consumption

Answer 16

70 – 73%

Question 17

Social comparisons

Answer 17

often create feelings of envy, covetousness and dissatisfaction.

Question 18

consumer trait exercises the most enduring influence on consumers’ decision-making and behaviors

Answer 18

attitudes

Question 19

Which Greek philosopher said: “The unexamined life is not worth living”?

Answer 19

Socrates

Question 20

The actual purchase situation

Answer 20

stage in the Model of Consumer Buyer Behavior takes into account time constraints or economic issues that may be influencing the consumer

Question 21

Aspirational reference groups

Answer 21

which consumers would most prefer to belong

Question 22

Actionable strategic knowledge

Answer 22

Answering the what, where, when, how, how much and why questions about consumers and their behavior

Question 23

proper sequence (order) that marketers should follow as they seek to analyze uncontrollable stimuli

Answer 23

Research
Segment
Target

Question 24

Cultural membership

Answer 24

functions as a driving factor on consumers’ acceptance or rejection of marketing mix stimuli

Question 25

Personality

Answer 25

consumers’ habitual ways of thinking, feeling, relating to others or interacting with stimuli

Question 26

Reference groups

Answer 26

consumers consciously look toward in order to secure insights and implicit/explicit recommendations regarding what they should or should not choose to consume

Question 27

How much did Facebook pay for Instagram?

Answer 27

1B

Question 28

The safety net

Answer 28

If citizen consumers slip up for whatever reason, often for reasons not of their own doing, some advanced democracies offer several programs to help citizens get back up

Question 29

Virtue-signaling

Answer 29

entails conspicuous expressions or demonstrations of one’s superior moral values.

Question 30

Greenwashing

Answer 30

arises when marketers promote or infer that their branded products or organizations themselves are green—as in beneficial to the environment—when they are not.

Question 31

Pinkwashing

Answer 31

That a portion of the price paid will go to charitable causes when in fact only an extremely small percentage goes to support said charitable causes.

Question 32

Price skimming

Answer 32

product pricing strategy by which a firm charges the highest initial price that customers will pay and then lowers it over time

Question 33

Salutary products

Answer 33

Little short-term satisfaction but substantial longer-term benefits.

Question 34

Deontological

Answer 34

A recognized set of rules or laws that supposedly govern people’s decisions and behaviors in situations featuring ethical dilemmas.

Question 35

Brand equity

Answer 35

can generally raise prices without losing market share

Question 36

Predatory pricing

Answer 36

Two or more firms collude and agree to not compete on the basis of price.

Question 37

Positional goods

Answer 37

luxury branded purses or expensive art

Question 38

Intangibility

Answer 38

When marketers seek to make service brands appear more realistic to consumers

Question 39

Commercialization

Answer 39

captures the practical marketing mix activities that must be performed in order to actually bring a new product to its targeted market segments

Question 40

genuinely high-quality idea

Answer 40

Many ideas usually must be evaluated and eliminated before the new product developer identifie

Question 41

The product use test

Answer 41

conducted to determine whether the prototypical product, as it will be developed, will actually satisfy the customer’s want or need (solve the problem) that it was intended to satisfy

Question 42

Concept test

Answer 42

determine whether eventual new product users will either want or need the proposed product?

Question 43

Blending-inside NPD

Answer 43

mixing solutions from previously related or unrelated sources together in new ways.