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MKT 304 Extra Credit Questions

Extra credit questions for MKT. Large help to a students grade as the...
Academic year: 2017/2018
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● ● ● ● ● ● ● ● ● ● ● ● ● ● ● When Karen Realized her dog had fleas, Karen was faced with [an unsatisfied need] Tomas, a bank employee, doesn’t feel that his coworkers accept him. He decided to dress more casually, as they do, hoping to be accepted. Which level of Maslow’s Hierarchy of Needs is Tomas trying to work on? [love] When Magda decided to buy a new computer, she considered all the brands she could recall seeing advertised. This represents Magda’s [retrieval] Joanna lives according to her own rules, unconcerned about her designer labels, brand names, and luxury items. Joanna is at which level in Maslow’s Hierarchy of Needs? [Self-actualization] A Key to successful marketing is determining how to meet the correct balance of ___ needs that best appeals to the firm’s target markets. [functional and psychological] To attract and maintain habitual purchasers, marketers spend considerable effort [creating strong brands and store loyalty] Americans often equate “bigger” with “better,” and prefer larger cars, TV screens, homes, even meals, Researchers suspect that in doing so, we are trying to reduce____risk in the consumer decision process. [psychological] Limited problem solving usually relies on [past experience more than external information] After Sharon graduated from college, she found a steady and well paying job, got married and began to raise a family, and began to receive recognition at work and in the community. Eventually, she began to devote more time and effort to intellectual and aesthetic pursuits. Sharon is moving up to which level on Maslow’s Hierarchy? [selfactualization] Consumers use and process different aspects of advertising or messages. _____yeilds greater attention and deeper processing, and leads to strong attitudes and purchase intentions. [high involvement] Television advertising has recently expanded to include “mini-ads,” which are short ads lasting 5 to 10 seconds. These ads are most useful in advertising to men, since men are more likely than women to channel surf during commercial breaks. Given this fact, this type of advertising will be more useful to marketers engaged in ____ segmentation. [demographic] Sally is in the new marketing department of a mid-sized lawn and garden company. She is working on the first marketing plan the firm has ever used. She has defined the mission and objectives, and she just finished a situation analysis for the firm. The next step is to [identify and evaluate opportunities by conducting segmentation, targeting, and positioning analysis] “Corporate pilot fish” are former employees who start a new business based primarily on contacts and contracts with their old company. A corporate pilot fish would probably pursue a _____ targeting strategy. [micromarketing] Four frequently used targeting strategies are the micromarketing, undifferentiated, differentiated, and ____ targeting strategies. [concentrated] Marketers have found that ____ segmentation is often more useful for predicting consumer behavior than ____ segmentation. [psychographic, demographic] ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● When Talbots, an upscale women’s clothing store, tries to portray an image of “traditional, conservative, and with good taste,” it is appealing to its target market’s [lifestyle] Baby Boomers represent a huge demographic segment for travel marketers. Baby Boomers are also heavily motivated by self-fulfillment, which creates the possibility of ____segmentation. [psychographic] With access to the Internet nearly universal in the United States, many potential market segments have become more [reachable] Marco was assigned to help create a positioning strategy for his employer’s products based on product attributes. He should consider [what the target market would consider the most important features] Differences in weather and climate create opportunities for [geographic segmentation] Geodemographic segmentation can be particularly useful for ______, because customers typically patronize stores close to their neighborhood. [retailers] After assessing the market growth potential for his company’s baby products in Mexico, Harmon wanted to evaluate market competitiveness. To do this, Harmon would consider [the number of competitors, entry barriers, and product substitutes] Within a perceptual map, an ______ represents where a particular market segment’s desired product would lie. [ideal point] Alex has found that both commercial and residential real estate buyers respond positively to his marketing communication message. Alex has identified ____ that respond similarly to his marketing efforts. [market segments] While demographic and geographic segmentation of retail customers are relatively easy, these characteristics do not help marketers determine [what their customers need] For a segmentation strategy to be successful, the customers in the segment must react similarly and positively to the firm’s marketing mix. In other words, the market segment must be [reachable] The perceptions of _____ are being measured in a perceptual map. [consumers] Godiva chocolates produces specially decorated boxes of candies for Valentine’s Day, Easter, and Christmas. This is an example of ____ segmentation. [occasion] The number of participants who discontinue their use of service divided by the number of total participants is called [churn] When conducting a research study attempting to understand what features were most important to automobile consumers, Gary’s Research Company used a questionnaire containing _______ questions, with a predetermined set of responses. [structured] When consumers are unable to articulate their experiences, _____ becomes particularly useful in understanding consumer’s preferences. [observation] A major disadvantage of primary data collection is [it takes more time to collect secondary data and is more costly] Firms that are engaged in sentiment mining are analyzing data collected from [social media sites] Recently, the number of students enrolled in the marketing program dropped while enrollment in the psychology program increased. The chair of the marketing department several strangers with curly hair and asked them where they had their hair cut. She chose to spend considerable effort finding a new hair stylist based on the __________ associated with her purchase decision. Selected Answer: performance risk Correct Answer: performance risk · Question 2 0 out of 0 points Andrea and Karl got married a year ago and are ready to move out of their apartment and into a new home. After looking at several houses, they have developed a list of features that are important to them and that are different among the homes they have visited. The features on their list are called Selected Answer: determinant attributes. Correct Answer: determinant attributes. · Question 3 0 out of 0 points Paula is about to open a new hardware store. She is making decisions regarding lighting, colors, and layout of merchandise. Paula knows these __________ factors will influence consumers' purchase decisions. Selected Answer: store atmosphere Correct Answer: post-purchase dissonance · Question 4 0 out of 0 points There is a saying "Never go to the grocery store hungry." This saying suggests that a consumer's __________ state may adversely affect purchasing decisions. Selected Answer: temporal Correct Answer: temporal · Question 5 0 out of 0 points The shared meanings, beliefs, morals, values, and customs of a group of people constitute its Selected Answer: culture. Correct Answer: culture. · Question 6 0 out of 0 points When the floor rusted through on her old car, Kelly knew she had a problem. Logically, Kelly's next step in the consumer decision process would be to Selected Answer: search for information about cars. Correct Answer: search for information about cars. · Question 7 0 out of 0 points Marketers particularly want their brands and products to be in consumers' __________ coupons she'd found in the food section of the paper. At the store she also found a "buy one, get one free" deal and a gift offered with the purchase of a particular dessert. She altered the menu as a result of the __________ and ended up spending less than she'd planned. Selected Answer: in-store promotion Correct Answer: in-store promotion · Question 1 0 out of 0 points Ryan believes he is responsible for his actions, and he will conduct extensive searches before making a purchase. Michael's favorite phrase, when confronted by the need to make a decision, is "Whatever." In marketing terms, Ryan is said to have a(n) __________ and Michael, a(n) __________. Selected Answer: internal locus of control; external locus of control Correct Answer: internal locus of control; external locus of control · Question 2 0 out of 0 points A key to successful marketing is determining how to meet the correct balance of __________ needs that best appeals to the firm's target markets. Selected Answer: functional and psychological Correct Answer: functional and psychological · Question 3 0 out of 0 points Paula is about to open a new hardware store. She is making decisions regarding lighting, colors, and layout of merchandise. Paula knows these __________ factors will influence consumers' purchase decisions. Selected Answer: post-purchase dissonance Correct Answer: post-purchase dissonance · Question 4 0 out of 0 points Marketers often use principles and theories from sociology and psychology to better understand consumers' actions and to Selected Answer: develop basic strategies for dealing with their behavior. Correct Answer: develop basic strategies for dealing with their behavior. · Question 5 0 out of 0 points Marketers are particularly interested in postpurchase behavior because it Selected Answer: involves both actual and potential customers. Correct Answer: involves actual rather than potential customers. · Question 6 0 out of 0 points The shared meanings, beliefs, morals, values, and customs of a group of people constitute Selected Answer: temporal Correct Answer: temporal · Question 10 0 out of 0 points When Magda decided to buy a new computer, she considered all the brands she could recall seeing advertised. This represents Magda's __________ set. Selected Answer: retrieva l Correct Answer: retrieva l Chapter 6 Question 1 ● ● ● ● 0 out of 0 points ● ● Paula is about to open a new hardware store. She is making decisions regarding ● lighting, colors, and layout of merchandise. Paula knows these __________ factors will influence consumers' purchase decisions. ● ● ● ● ● ● ● Selected Answer: ● ● ● Correct Answer: ● store atmosphere ● post-purchase dissonance ● Question 2 ● ● ● ● 0 out of 0 points ● ● André was afraid his new condominium would look shabby to his future in-laws,●so ● he had it painted just before their visit. André was addressing his __________ risk. ● ● ● ● ● Selected Answer: ● ● social Correct Answer: ● ● social ● ● ● Question 3 ● ● ● ● 0 out of 0 points ● ● Once consumers have recognized a need, they begin to search for ways to satisfy ● ● that need. The internal search is characterized by ● ● ● ● ● ● ● ● ● When the floor rusted through on her old car, Kelly knew she had a problem. Logically, Kelly's next step in the consumer decision process would be to ● ● ● ● ● ● ● ● Selected Answer: ● ● ● Correct Answer: ● ● evaluate alternatives. search for information about cars. ● Question 6 ● ● ● ● 0 out of 0 points ● ● Consumers use and process different aspects of advertising or messages. ● __________ yields greater attention and deeper processing, and leads to strong attitudes and purchase intentions. ● ● ● ● ● ● ● ● ● Selected Answer: ● ● High involvement Correct Answer: ● ● High involvement Question 7 ● ● ● ● 0 out of 0 points ● ● Natalie and her fiancé Dow are planning their wedding. She knows her mother ● ● wants her to have a traditional church wedding with a Roman Catholic priest officiating. Natalie would like to have an informal ceremony on the beach, since that type of wedding has become popular with her friends. Furthermore, Dow is from Thailand and would like to have a monk officiate. Natalie and Dow's wedding decisions are most influenced by ● ● ● ● ● Selected Answer: ● ● ● family, reference groups, and culture. Correct Answer: ● ● ● family, reference groups, and culture. ● ● ● Question 8 ● ● ● ● 0 out of 0 points ● ● Marketers are particularly interested in postpurchase behavior because it ● ● ● ● ● ● ● ● The Wall Street Journal provides a set of guidelines each year for purchasing a ● laptop computer. The guidelines include recommendations for hard disk capacity, memory size, battery life, and several other attributes. The Wall Street Journal is providing consumers with ● ● ● ● ● Selected Answer: Correct Answer: ● ● an evoked set. ● ● evaluative criteria Chapter 9 __________ segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach. ● ● ● ● Selected Answer: ● ● Demographic Correct Answer: ● ● Demographic ● Question 2 ● ● ● ● 0 out of 0 points ● ● For a segmentation strategy to be successful, the customers in the segment must ● ● react similarly and positively to the firm's marketing mix. In other words, the market segment must be ● ● ● ● Selected Answer: ● ● ● Correct Answer: ● ● ● ● identifiable. reachable. ● Question 3 ● ● ● ● 0 out of 0 points ● ● Marketers have found that __________ segmentation is often more useful for ● predicting consumer behavior than __________ segmentation. ● ● ● ● ● ● ● ● ● psychographic; demographic Correct Answer: ● ● psychographic; demographic ● ● ● Selected Answer: Question 4 ● concentrated ● Question 6 ● ● ● ● 0 out of 0 points ● ● When Penguin Catering Services first opened, the owner decided to target only● events at resorts in its geographic region. Penguin Catering was using a(n) __________ targeting strategy. ● ● ● ● ● ● ● ● Selected Answer: ● ● concentrated Correct Answer: ● ● concentrated ● Question 7 ● ● ● ● 0 out of 0 points ● ● Marketers often create a special marketing mix for loyalty segments because ● these segments are ● ●

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MKT 304 Extra Credit Questions

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When Karen Realized her dog had fleas, Karen was faced with [an unsatisfied need]
Tomas, a bank employee, doesn’t feel that his coworkers accept him. He decided to
dress more casually, as they do, hoping to be accepted. Which level of Maslow’s
Hierarchy of Needs is Tomas trying to work on? [love]
When Magda decided to buy a new computer, she considered all the brands she could
recall seeing advertised. This represents Magda’s [retrieval]
Joanna lives according to her own rules, unconcerned about her designer labels, brand
names, and luxury items. Joanna is at which level in Maslow’s Hierarchy of Needs?
[Self-actualization]
A Key to successful marketing is determining how to meet the correct balance of ___
needs that best appeals to the firm’s target markets. [functional and psychological]
To attract and maintain habitual purchasers, marketers spend considerable effort
[creating strong brands and store loyalty]
Americans often equate “bigger” with “better,” and prefer larger cars, TV screens,
homes, even meals, Researchers suspect that in doing so, we are trying to
reduce____risk in the consumer decision process. [psychological]
Limited problem solving usually relies on [past experience more than external
information]
After Sharon graduated from college, she found a steady and well paying job, got
married and began to raise a family, and began to receive recognition at work and in the
community. Eventually, she began to devote more time and effort to intellectual and
aesthetic pursuits. Sharon is moving up to which level on Maslow’s Hierarchy? [self-
actualization]
Consumers use and process different aspects of advertising or messages. _____yeilds
greater attention and deeper processing, and leads to strong attitudes and purchase
intentions. [high involvement]
Television advertising has recently expanded to include “mini-ads,” which are short ads
lasting 5 to 10 seconds. These ads are most useful in advertising to men, since men are
more likely than women to channel surf during commercial breaks. Given this fact, this
type of advertising will be more useful to marketers engaged in ____ segmentation.
[demographic]
Sally is in the new marketing department of a mid-sized lawn and garden company. She
is working on the first marketing plan the firm has ever used. She has defined the
mission and objectives, and she just finished a situation analysis for the firm. The next
step is to [identify and evaluate opportunities by conducting segmentation, targeting, and
positioning analysis]
“Corporate pilot fish” are former employees who start a new business based primarily on
contacts and contracts with their old company. A corporate pilot fish would probably
pursue a _____ targeting strategy. [micromarketing]
Four frequently used targeting strategies are the micromarketing, undifferentiated,
differentiated, and ____ targeting strategies. [concentrated]
Marketers have found that ____ segmentation is often more useful for predicting
consumer behavior than ____ segmentation. [psychographic, demographic]