Chapter 5
______ refers to how we gather and interpret information from the world around us.
Is it: Retention, Perception, Attitude, Learning, or Lifestyle analysis.
Perception
A ________Blank consists of all the people who participate in or influence a purchase.
1. procurement department
2. bidding group
3. set of gatekeepers
4. sales analysis group
5. buying center
5. buying center
A buying center includes all the people who participate in or influence a purchase. Different people may make up a buying center from one decision to the next.
What is true about marketing information systems (MIS)?
1. They develop and analyze new information about a market.
2. They are generally too costly and provide less information than a market research procedure.
3. They help marketing managers improve the marketing strategy planning process.
4. They cannot be combined with marketing research.
5. They generally take too long to get the desired information.
3. They help marketing managers improve the marketing strategy planning process.
Marketing managers need marketing research, an MIS, or a combination of both during any step in the marketing strategy planning process to make good marketing decisions or to improve implementation and control.
The ________ ultimately determines a product’s quality and value.
1. product designer
2. marketing manager
3. quality inspection team
4. retail manager
5. customer
5. customer
While it’s easy to think that a product’s quality is determined by product designers and other managers involved in production, quality is ultimately determined by the customer. Quality is a product’s ability to satisfy a customer’s needs or requirements.
“Product” means:
1. physical good or service that offers potential customer satisfaction.
2. a physical good with all its related features.
3. the entire physical output of a firm.
4. all the elements in a firm’s marketing mix.
5. something that has been produced, packaged, branded, and given a warranty.
1. physical good or service that offers potential customer satisfaction.
A product may be a physical good, a service, or a blend of both. The idea of “Product” as potential customer satisfaction or benefits is very important.
Frustrated by a lack of freedom to make decisions at her work, Bethesda quit her job to find one with greater motivated Beth's actions?
Is it Psychological, Social, Physiological, Economic, or Cultural?
Psychological: Independence is a psychological need.
Martha Jones was looking to buy windows for use in several new apartment buildings that her company was building. She began her search with an impersonal, nonmarketing source. Which source did she most likely use?
1. an online search
2. a website white paper
3. trade show information
4. information from a consultant
5. company advertisements
1. an online search
Impersonal, nonmarketing sources used by organizational buyers include online searches, rating services, trade associations, news publications, product directories, online review sites, and social media.
Nan needs to set a price for a new product, but she needs information on her target market and the competition before she makes the decision. She decides to use procedures that develop and analyze new information to help her make her decision. These procedures are called:
1. strategy planning.
2. operational planning.
3. analytical research.
4. marketing research.
5. statistical techniques.
4. marketing research.
Marketing research refers to procedures that develop and analyze new information about a market. It is a key source that marketing managers turn to for information to make better decisions.
________ are 100 percent physical goods.
1. Restaurant meals
2. Paper towels
3. Satellite radio subscriptions
4. Postal services
5. Hair cuts
2. Paper towels
A physical good is tangible; it can be seen and touched. Physical goods are typically mass-produced in a factory.
An app for the iPhone that includes voice directions for a built-in GPS system can be helpful in finding a motel that is “off the beaten track.” What is the primary economic need being satisfied by this app?
1. economy of purchase
2. dependability in use
3. efficiency in use
4. discretionary income
5. improvement of earnings
3. efficiency in use
Most consumers appreciate firms that offer products that are designed to work better, require less service, or last longer. Here, the iPhone app is satisfying efficiency in operation or use.
Which statement about the learning process is true?
1. A cue is a strong stimulus that drives an individual.
2. Learning occurs only when a drive is satisfied.
3. Cues are the cause of drives.
4. Reinforcement strengthens the relationship between a cue and a response.
5. A response can trigger a drive.
4. Reinforcement strengthens the relationship between the cue and the response, and it may lead to a similar response the next time the drive occurs.
Purchasing specifications:
1. often simply include a brand name or part number when purchasing requirements are especially complicated.
2. tend to be detailed for services, as compared to goods, because services are usually performed before they’re purchased.
3. tend to be detailed for services, as compared to goods, because services are more standardized than goods.
4. are often simple for manufactured items with highly standardized quality.
5. are generally completed by the selling organization.
4. are often simple for manufactured items with highly standardized quality.
When quality is highly standardized, as is often the case with manufactured items, the specification may simply consist of a brand name or part number.
The scientific method:
1. rejects the idea that marketing managers can make “educated guesses” about marketing relationships.
2. is an orderly way of presenting your point of view.
3. assumes that statistical analysis provides the only basis for rejecting a hypothesis.
4. is a hit-or-miss approach.
5. involves testing hypotheses before making decisions.
5. involves testing hypotheses before making decisions.
The scientific method involves researchers using their intuition and observations to develop hypotheses. Then they test their hypotheses before making final decisions.
Elizabeth always drank fresh orange juice, saying the frozen and reconstituted versions tasted terrible. When Elizabeth was on vacation, she tried a new brand of frozen orange juice and found she really liked it. When she got home, she saw it on the shelf at her local grocery and remembered how much she liked it, so she bought it. Elizabeth’s decision to buy the frozen juice was a result of:
1. brand recognition.
2. nonrecognition.
3. brand insistence.
4. brand evangelism.
5. brand positioning.
1. brand recognition.
Elizabeth recognized the brand from trying it earlier. This could also be brand preference, which means that Elizabeth’s past experience with the product prompted the purchase.
Exam 2 is how many questions?
50 Questions
Psychographics is the analysis of a person’s day-to-day pattern of living as expressed in that person’s:
1. safety, social, and personal needs.
2. actions, interests, and occupation.
3. activities, interests, and opinions.
4. culture, beliefs, and attitudes.
5. psychological and physiological needs.
3. activities, interests, and opinions.
Psychographics, or lifestyle analysis, is the analysis of a person’s day-to-day pattern of living as expressed in that person’s activities, interests, and opinions.
The goal of vendor analysis is:
1. just getting a low price from the supplier on a given part or service.
2. just satisfying the needs of the customer company.
3. lowering the total costs associated with purchases.
4. satisfying the needs of the individuals who influence the purchase.
5. focusing buyers and sellers on just the economic factors needed to reduce costs.
3. lowering the total costs associated with purchases.
The goal of vendor analysis is to lower the total costs associated with purchases.
Rihanna has just learned that her district’s sales are down. She talks with several sales reps and finds that a competitor has introduced a successful new product. This “research” is likely to be part of:
1. the situation analysis.
2. the problem solution stage.
3. obtaining problem-specific data.
4. the data interpretation stage.
5. the problem definition stage of the research process.
1. the situation analysis.
The situation analysis may begin with quick research—perhaps an Internet search, utilizing an MIS, and phone calls or informal talks with people familiar with the industry, problem, or situation.
________ are products a consumer needs but isn’t willing to spend much time and effort shopping for.
1. Convenience products
2. Unsought products
3. Homogeneous shopping products
4. Utility products
5. Heterogeneous shopping products
1. Convenience products
Convenience products are products a consumer needs but isn’t willing to spend much time or effort shopping for. These products are bought often, require little service, don’t cost much, and may even be bought by habit.
Which of the five elements of a marketing information system would include a data warehouse?
1. information sources
2. data storage, access, and security
3. marketing analysis
4. marketing strategy decisions
5. results
2. data storage, access, and security
A college student on her way to take an exam remembers that she doesn’t have a pencil with an eraser, which the instructor asked everyone to bring. The store where she stops doesn’t have regular pencils, but it does sell Scripto mechanical pencils priced at $2.95. That is what she buys. This case illustrates the effect of:
The Personal Environment, Culture, The Purchase Situation, The Learned Set, or Dissonance.
The Purchase Situation: Consumer behavior varies in different situations. The urgency of the need is a time-related factor that influences buying behavior. This is an example of purchase situation.
Specific adaptations are usually required when a buyer chooses ________, which is a contract with an external firm to produce goods or services rather than the buyer producing them internally.
1. gatekeeping
2. resident buying
3. competitive bidding
4. outsourcing
5. auctioning
4. outsourcing
Specific adaptations are usually made when the buying organization chooses to outsource—that is, contract with an outside firm to produce goods or services rather than to produce them internally.
Which statement about marketing technology is accurate?
1. Marketing managers can often provide insights that are superior to various models and predictive analytics.
2. Without the use of marketing technology, most marketing programs fail.
Antiquated spreadsheet software is totally ineffectual in today’s marketing environment.
The concepts driving marketing strategy differ depending on whether marketing technology is being utilized.
Thanks to marketing technology, managers do not need to engage in marketing strategy planning decisions.
1. Marketing managers can often provide insights that are superior to various models and predictive analytics.
The use of marketing technology should not be overstated. While these practices are becoming more common, most marketing managers do not have this luxury. These marketing managers analyze data and information using spreadsheet software. The concepts driving marketing strategy planning do not change and, in many situations, marketing managers can provide insights superior to various model and predictive analytics.
Which statement is true of outsourcing?
1. Outsourcing tends to increase operational and recruitment costs.
2. Outsourcing has no effect on a company’s efficiency.
3. In outsourcing, in-house professionals are hired to perform tasks.
4. Outsourcing involves the free exchange of services and resources between organizations in the same country.
5. Outsourcing involves buying professional services outside the firm.
5. Outsourcing involves buying professional services outside the firm.
Buying professional services outside the firm is known as outsourcing. Work that was previously done by an employee is now often purchased from an independent specialist.
Anything that limits others’ access to personal data that people consider sensitive or confidential is referred to as:
1. informational privacy.
2. a data breach.
3. confidence interval.
4. a situation analysis.
5. a decision support system.
1. informational privacy.
Informational privacy is anything that limits others’ access to personal data that people consider sensitive or confidential.