Exam 2

Question 1

The systematic gathering recording and analyzing of data to provide information useful to marketing decision making

Answer 1

Marketing research

Question 2

International marketing research is often reflected where on the broader scope?

Answer 2

Unisys Corporation’s planning steps

Question 3

What kind of information or not ordinarily gathered by domestic marketing research department but are required for a sound assessment of a foreign market

Answer 3

Political stability
cultural attributes and
geographical characteristics

Question 4

Unisys Corporation’s planning steps calls for collecting and assessing the following information:

Answer 4

1 Economic and demographic 
2 cultural sociological and political 
3 climate overview of market conditions 
4 summary of the technological environment and 
5 competitive situation

Question 5

This is general data on growth in the economy business cycle trends; profitability analysis for the divisions products and the like

Answer 5

Economic and demographic information

Question 6

Covers ecology, safety and leisure time in their potential impacts on division’s business

Answer 6

Cultural sociological and political climate

Question 7

A detailed analysis of market conditions that the division faces by market segment including international

Answer 7

Overview of market conditions

Question 8

A summary of the state of the art technology as it related to the division’s business

Answer 8

Summary of the technological environment

Question 9

A review of competitors sales revenue, method of market segmentation, products and apparent strategies on an international scope

Answer 9

Competitive situation

Question 10

What are the six steps of the research process

Answer 10

1 Define the research problem and establish research objectives
2 determine the sources of information to fulfill the research objectives
3 consider the costs and benefits of the research effort
4 gather the relevant data from secondary or primary sources or both
5 analyze interpret and summarize the results
6 Effectively communicate the results to decision makers

Question 11

Which step of the research process is considered the most critical and why

Answer 11

Step 1 because The right question must be determined otherwise the entire investment could be wasted

Question 12

What are some common issues with secondary data faced in foreign markets

Answer 12

Availability of data
reliability of data and
compare ability of data

Question 13

What makes data in foreign markets have a lack of availability

Answer 13

Language and privacy concerns limit the access

Question 14

What limits the reliability of data in foreign markets

Answer 14

Will for Aer’s comment to improve the image of the country or company

Question 15

What limits the comparability of data in foreign markets

Answer 15

Data collected at random times and through random methods some data is reported into broad categories as well

Question 16

Data collected by an independent agency or individual rather than the firm conducting the research itself often used in market research

Answer 16

Secondary data

Question 17

What is one way of judging DATA validity

Answer 17

Checking the consistency of one set of secondary data with another set of known validity is an effective method

Question 18

DATA specifically collected for the project at hand and gathered by the firms researcher

Answer 18

Primary research

Question 19

If after seeking all reasonable secondary data sources and research questions are still not answered where must the researcher go

Answer 19

Primary research

Question 20

Six to determine what people in a sample our lake and often asks open ended questions to reflect a persons thoughts and feelings

Answer 20

Qualitative research

Question 21

Usually a large number of respondents answer questions and DATA is presented as precise estimations in this type of research

Answer 21

Quantitative research

Question 22

Expected to obtain structured responses that can be presented with precise estimations often summarized in percentages averages or other statistics

Answer 22

Quantitative research

Question 23

What does the product life cycle focus on

Answer 23

Importance of quality
competitive prices and
innovative products

Question 24

How is the power shifting in our economy

Answer 24

From seller to buyer

Question 25

How are customers now to find quality

Answer 25

In terms of their own needs and resources

Question 26

What is the market perceived quality

Answer 26

The customer’s perception of quality

Question 27

What is performance quality

Answer 27

This is the firms perception of quality | often misrepresented

Question 28

What are some examples of market perceive quality in terms of a flight

Answer 28

``` Cost timely service frequency of flight comfortable seating good baggage claim service ```

Question 29

What are some examples of performance quality in terms of a flight

Answer 29

A safe flight | a safe landing

Question 30

Change is mandated by local product and service standards

Answer 30

Product homologation

Question 31

Used to identify concerns with the environmental consequences of a variety of marketing activities

Answer 31

Green marketing

Question 32

A bundle of satisfaction for utilities a buyer receives. this is considered to be more than a physical item

Answer 32

A product

Question 33

What does the utility of a product include

Answer 33

It’s form, taste, color, odor, texture, functions, the package, label, the warranty, manufacture and retail servicing, the prestige enjoyed by the brand, manufacturer’s reputation, country of origin and any other symbolic utility

Question 34

What is the first step to adaptation

Answer 34

Consider innovation

Question 35

What is meant by newness of a product And why must this be considered

Answer 35

How new the product is to the specific market and it is important to determine how the people will react to the product in a specific market

Question 36

Any idea perceived as new by a group of people is considered what

Answer 36

Innovation

Question 37

How can it be determined if a group will accept innovation

Answer 37

It all depends on the products characteristics in that market

Question 38

The adoption or spread of products across markets by increasing number of customers

Answer 38

Diffusion

Question 39

What is product diffusion dependent on

Answer 39

The ability to communicate relevant product information and new product attributes

Question 40

What are the core components of a product (inner circle)

Answer 40

Product platform design features functional features

Question 41

What are the packaging components of a product (middle ring)

Answer 41

``` Trademark Brand name price quality package styling ```

Question 42

What are the support services components of a product (outer ring)

Answer 42

``` Repair and maintenance installation instructions deliveries warranty spare parts other related services ```

Question 43

What are the core components of a product

Answer 43

Consists of a physical product and variations can be added or deleted for different markets

Question 44

The less economically developed a market is….

Answer 44

The greater degree of change a product may need for acceptance

Question 45

What are two critical issues that affect product development according to green marketing

Answer 45

Control packaging of solid waste and consumer demand for environmentally friendly products

Question 46

How is Europe at the forefront of green marketing issues

Answer 46

The European commission issued guidelines for ecolabeling in 1992. The EU requires that packaging material must be recycled or reused through all levels of distribution

Question 47

Mini otherwise successful marketing programs have failed because little attention was given to this component

Answer 47

Support services component

Question 48

In what type of market is industrial goods

Answer 48

B2B

Question 49

Industrial consumers are seeking profit but what is the ultimate consumer seeking

Answer 49

Satisfaction

Question 50

Our issues of standardization versus adaptation relevant in regard to industrial goods and why

Answer 50

No because industrial goods have one purpose and are not customized based on the location. Industrial goods are not specialized

Question 51

What are the three factors that affect the volatility of industrial demand

Answer 51

Sellers tend to be dependent on small numbers of customers professional buyers tend to act in concert changes in markets are accelerated by derived demand

Question 52

Demand that is dependent upon another source

Answer 52

Derived demand

Question 53

Where is industrial demand derived from

Answer 53

Consumer demand

Question 54

What is the most important difference between consumer an industrial markets

Answer 54

The cyclical swings in demand inherent in industrial market

Question 55

What are five ways to manage Industrial demand volatility

Answer 55

Maintain broad product lines and market coverage raise prices faster and reduce ad expenditures during booms ignore market share as a strategical goal Eschew layoffs focus on stability

Question 56

What countries are better at managing volatility in markets

Answer 56

German and Japanese firms

Question 57

What are the five stages of economic development

Answer 57

``` The traditional society pre-conditions for takeoff takeoff drive to maturity the age of mass consumption ```

Question 58

Describe the five stages of economic development

Answer 58

The traditional society: The most important industrial the man will be associated with natural resources extraction Pre-conditions for takeoff: Manufacturing is beginning primary needs will be related to agriculture in infrastructure development Takeoff: Manufacturing of both semi durable and nondurable consumer goods has begun goods demanded relate to equipment and supplies to support manufacturing Drive to maturity: The focus is more on low cost manufacturing of a variety of consumer and some industrial goods they buy from all categories of industrial products and services South Korea and Czech Republic Age of mass consumption: countries where design activities are going on and manufacturing techniques are being developed they are mostly service economies Japan and Germany

Question 59

Many countries are placing great emphasis on education regardless of their low per capita GDP which allows them to do what

Answer 59

The potential to leverage technology transfers

Question 60

A series of five international industrial standards originally designed by the international organization for standardization in Geneva to meet the need for product quality assurance is in purchasing agreement

Answer 60

ISO 9000s

Question 61

What creates a product’s primary function

Answer 61

Physical attributes