The Majority of Products and Services are Llikely to Satisfy

Quizzes: Ch. 1-7 Quiz 1 1. Understanding consumers’ ______ is fundamental to marketing success. a. Needs and wants 1. Coca-cola targets its soft drinks, Dasani and Smartwater, and Minute Maid juices campaigns to different market ______, including parents, their children, and athletes Geographics 2. According to your text, what can be said regarding the use of social media in advertising? 3. A firm relies on a wide variety of vendors to make and distribute its products. Manufacturers buy raw materials from suppliers, use shipping companies to transport finished goods to multiple locations, and establish relationships with the retailers who sell them to consumers. This is all part of Supply chain management 4. Most successful firms today are _____ oriented. Market 5. During the last couple of decades, it has become important for value-oriented marketers to ________ with customers. move toward a relational perspective from a transactional orientation 6. When Elizabeth wants to go out to dinner, she checks her Open Table app to see which restaurants in her area have reservations available. Open Table is an example of A location-based app 7. MADD promotes its campaign to stop drunk driving through mailings, advertising, and education. MADD is providing which kind of marketing offering? ideas 8. The goal of any exchange is that the parties to the transaction be Satisfied 9. When a coffee grower sells its coffee beans to Starbucks, it is engaged in _____ marketing. Quiz 2 1. When Macey was buying a new car, she decided to buy a Toyota because it had a dealership close to her home with a service department that was open on Saturdays. Which element of the marketing mix is influencing Macey’s decision? a. Place 2. Companies must deliver more value and satisfaction to target consumers than its competitors to gain a a. Competitive advantage 3. Which financial performance metric might be used to evaluate the performance of a company's implementation of its marketing plan? a. GM (gross margin) 4. Shampoo manufacturers understand that consumers have different needs when it comes to what type of shampoo they use, such as for curly hair, two-in-one ease of use, or color protection. Knowing that, shampoo manufacturers have divided the market based on these various needs and developed shampoos to accommodate each group. By doing so, these shampoo manufacturers are involved in a. Market segmentation 5. When marketers strive to get their customers the merchandise they want, when they want it, in the required quantities, and at a lower delivered cost than that of their competitors, they are hoping to achieve a sustainable competitive advantage through ________ a. Operation excellence 6. When a firm considers its overall objectives and considers the type of business it is in, it is engaged in which step of the marketing planning process? a. Defining the mission 7. A local bakery is known for poor customer service and an unclean environment. These factors would be classified as ________ in a SWOT analysis. a. Weaknesses 8. A struggling company determined that it would close down divisions that were in low-growth markets with relatively low market shares. According to the BCG product portfolio analysis, this company was identifying divisions in the ________ category for closure. a. Dogs 9. A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected income statements is referred to as a(n) a. Marketing plan 10. A ________ is a measuring system that quantifies a trend, dynamic, or characteristic and is used by marketers to help explain why things happened and also to predict the future. a. metric Quiz 3 1. Susie posts pictures of places she has visited on Instagram and tells the story behind them. What social media effect does this represent? a. Connected effect 2. When a game or app prompts users to make buy add-ons to enhance the app or game, it is referred to as a(n) a. In-app purchase 3. When Best Buy provides a loyal customer with a relevant coupon on their mobile phone, based on previous purchases, while the customer is in the store, this is an example of which element of the 4E framework? a. relevancy and exciting the customer 4. When Parul shops on the Internet, she tends to visit a site briefly for a quick look, then move on to another site until she finds the product she wants. She rarely spends time perusing the sites and looking at other products. If a company wanted to measure the percentage of times visitors like Parul leave a site almost immediately, it would be interested in the a. Bounce rate 5. In China, the app Weixin allows users to send videos, photos, messages, web links, status updates, and news. This app meets people’s need to a. Socialize 6. Your employer wants to analyze data that come from other sites, such as measuring where people have come from to get to your company’s site. What would you recommend that your company use to determine how people searched the Internet to find its products? a. Keyword analysis 7. Ariana Grande posts opinions, trends, photos, and videos on sites like Instagram and Twitter, garnering over 230 million followers just on Instagram. This gives her a voice on many topics that she would not otherwise have. Ariana Grande is considered a. An influencer 8. How does a microblog differ from a personal blog? a. Microblogs allow people to share their thoughts, opinions, and feelings with the entire world, while personal blogs are created by and usually for individuals. 9. Which of the seven critical elements of online marketing is best addressed by thought-sharing sites? a. community 10. Red Letter Days encourages Facebook and Twitter followers to post pictures with their mothers and tell why she deserves a day off and a chance to win a free lunch at a top London restaurant. In doing so, the restaurant is focusing on which aspect of the 4E framework? a. exciting Quiz 5 1. What most demonstrated consumers’ changing buying patterns during the COVID-19 pandemic? a. They became more focused on healthy living. 2. General Motors engages in partnerships with its suppliers, component part makers, unions, transport companies, and dealerships—collectively known as its a. Corporate partners 3. When combined with data such as occupation and income, which demographic gives marketers a pretty accurate prediction of purchase behavior? a. Education 4. When a firm evaluates how other companies react to the firm’s marketing activities, it is attempting to understand what aspect of the immediate environment? a. Competitors 5. The ability of marketers to use mobile applications to target and reach their customers more effectively is an example of which macroenvironmental factor? a. Technological advances 6. Generational cohorts correspond to which demographic that is typically used to identify consumer markets? a. age 7. When Connie lived in a small, rural town in the Midwest, she ate a diet heavy in beef and potatoes. When she moved to Chicago, she found that the restaurants offered more healthy items and her diet changed to include more seafood and fresh vegetables. This demonstrates how ________can change a company’s product offerings to meet consumer tastes. a. Regional culture 8. _________ also known as Millennials, constitutes more than 70 million members in the United States alone and were born between 1981 and 1996. a. Generation Y 9. Which law was passed to prohibit monopolies and other activities that would restrain trade or competition? a. Sherman Antitrust Act 10. In 2021, the Biden administration signed onto the ________with the goal of reducing greenhouse gas emissions. a. Paris Accord Quiz 6 1. Because not all purchase intentions result in an actual purchase, retailers calculate the ________to measure how effectively a decision to purchase a specific product results in a completed purchase. a. Decision rate 2. What need most pertains to the performance of a product or service? a. Functional need 3. Darius considered all shoe stores to be roughly equivalent in most ways; however, he considered Shoe Carnival stores to have an exceptional level of customer service. Customer service, therefore, would be considered a ________ for him in evaluating shoe stores. a. Determinant attribute 4. What are the three components that make up a person’s attitude? a. cognitive , affective, behavioral 5. Patty is considering different brands of makeup to buy, but she can only think of three she would actually consider purchasing. These three brands make up her ________ set. a. Retrieval 6. The majority of products and services are likely to satisfy a. Both functional and psychological needs 7. The discrepancy between a consumer’s actual state and desired state is associated with which step in the consumer decision process? a. Need recognition 8. Marketers that set unrealistically high consumer expectations of a product through advertising, personal selling, or other types of promotion may generate higher initial sales, but it will eventually result in ________ if the product fails to achieve these expectations. a. Post Purchase dissatisfaction 9. Wanda has a strong desire to make the world a better place and is concerned with saving the planet. Therefore, she shops local, buys organic foods, and recycles regularly. Which of Maslow’s needs do Wanda’s actions fulfill? a. Esteem? ?? 10. When Carl was considering buying a new car, he sought out unbiased information and ratings about different makes and models in Car and Driver magazine. What corresponds most closely to this aspect of the decision process? a. External search for information Quiz 7 1. Anne Marie decides who should submit RFPs and has access to important decision makers in the company. She serves as the _______ in the buying center. a. Gatekeeper 2. What is the final stage in the business-to-business buying process? a. Vendor performance assessment 3. Carpenters On Tap is looking for a wood supplier that can provide the materials for the manufacturing of its tables. The buying center proceeds through all six steps in the buying process and involves many people in the buying decision. This is most likely a ________ situation. a. New buy 4. In B2B markets, ________ are firms that buy and reprocess products and services before selling them again to the next buyer. a. Resellers 5. Although she wasn’t told this when hired, at her new job, Zoe notices that her coworkers eat lunch at their desks while continuing to work and that they dress casually on Fridays. These behaviors are most likely part of the a. Organizational culture 6. When executives confront an unfulfilled business need, they normally turn to ________, a promotional technique used by B2B sellers to provide information about a product or service. a. White papers 7. With its budget of over $700 billion, the Department of Defense represents which type of B2B organization? a. Government 8. Professor Johnson wants to use a new textbook in the marketing classes he teaches. He calls Rebecca, the textbook publishing’s sales representative, who suggests three different books to Professor Johnson, recommending one book in particular. In this buying center, Professor Johnson is the _______ and Rebecca is the _______ a. Initiator; influencer 9. In terms of business markets, organizations like hospitals that provide services to people in their care are classified as a. Institutions 10. Which intermediary is an example of a reseller? a. Wholesaler