Exam #2 Flashcards
(147 cards)
1
Q
The term Hyperlocal social marketing refers to:
A
Location- based targeting to consumers in local communities or neighborhoods using digital and social media
2
Q
business-to-business marketers
A
must understand business markets and business buyer behavior
3
Q
concentrated (niche) marketing
A
market-coverage strategy in which a firm goes after a large share of one or a few segments or niches
4
Q
perception
A
the process by which people select, organize, and interpret info to form a meaningful picture of the world
5
Q
what stage of the product life cycle would this promotion strategy match? “Increase to encourage brand switching”
A
maturity
6
Q
internal search
A
information retrieval that involves recalling (past experiences, experiential sources examining/using the product)
7
Q
stages of the business buyer decision process
A
problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, performance review
8
Q
________________ products are those products purchased for further processing or for use in conducting a business.
A
industrial
9
Q
what stage of the product life cycle would this characteristic match? “peak sales”
A
maturity
10
Q
undifferentiated (mass) marketing
A
market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer
11
Q
what stage of the product life cycle would this characteristic match? “low sales”
A
introduction
12
Q
important
A
the difference delivers a highly valued benefit to target buyers
13
Q
cobranding
A
the practice of using the established brand names of two different companies on the same product
14
Q
business buying processes
A
longer, more formalized procedures, buyer and seller more dependent on each other
15
Q
functional consequences
A
concrete outcomes of product or service usage
16
Q
adoption process of new products
A
awareness, interest, evaluation, trial, adoption
17
Q
What are the parts of the Model of buyers behavior
A
Environment, Buyer’s black box, Buyers responses
18
Q
straight rebuy
A
buyer routinely reorders something without any modifications
19
Q
industrial product
A
product bought by individuals and companies for further processing or for use in conducting a business
20
Q
augmented product
A
delivery and credit, aftersale service, product support, warranty
21
Q
communicable
A
the difference is communicable and visible to buyers
22
Q
subliminal perception
A
ability to perceive stimulus that is below the level of conscious awareness
23
Q
The definition of concentrated marketing is:
A
A market-coverage strategy in which a firm goes after a large share of one or a few submarkets.
24
Q
Marketing stimuli
A
product, pice, place, promotion
25
superior
the differences is superior to other ways that customers might obtain the same benefit
26
service
an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything
27
product
anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need
28
Firm Software Company has hired Productivity Marketing to analyze and divide their data on consumer groups by brand loyalty (light user/ medium user/ heavy user) to develop profiles of market segments. Productivity Marketing is performing ________ segmentation.
behavioral
29
what stage of the product life cycle would this characteristic match? "declining sales"
decline
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business analysis function includes
forecasting sales
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relevant internal psychological processes
motivation, perception, attitude formation, integration, learning
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selective distortion
describes the tendency of people to interpret info in a way that will support what they already believe
33
business buying process
determining which products and services to purhcase
34
fad
a temporary period of unusually high sales driven by consumer enthisiasm and immediate product or brand popularity
35
new brands
new product category and new brand name
36
differentiated (segmented) marketing
market-coverage strategy in which firm targets several market segments and designs separate offers for each
37
what stage in the product life cycle is "offer product extensions, service, warranty"?
growth
38
Which of the following is NOT a product attribute?
price
39
differentiation
differentiate the market offering to create superior customer value
40
multibrands
existing product category and new brand name
41
a new product development starts with...
idea generation
42
What is a motive?
It is is a need or a drive that is sufficiently pressing to direct a person to seek satisfaction.
43
Consumer markets
All the individuals and households that buy or acquire goods and services for personal consumption
44
intermaket segmentation is called cross-market segmentation
true
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behavioral segmentation
dividing a market into segments based on consumer knowledge, attitudes, uses of a product, or responses to a product
46
business market structure and demand
fewer but larger buyers, derived demand, inelastic and fluctuating demand
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Buyers responses
buying attitudes and preferences, purchase behavior, brand engagements and relationships
48
convenience product
consumer product that customers usually buy frequently, immediately, and with a minimum of comparison and buying effort
49
affordable
buyers can afford to pay for the difference
50
marketing strategy development
designing an initial marketing strategy for a new product based on the product concept
51
what stage of the product life cycle would this promotion strategy match? "use heavy sales promotion to entice trial"
introduction
52
Gilbert is dissatisfied with his phone because it has a very short battery life. He realizes that he needs a phone that has a longer battery life. Currently Gilbert is in the ________ stage of the consumer decision-making process.
problem recognition
53
micromarketing
tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments
54
alternative evaluation (attitude formation)
comparing brands that have been identified as capable of solving the consumption problem and satisfies the need/want
55
what stage in the product life cycle is "diversify brand and models"?
maturity
56
geographical segmentation
dividing a market into different geographical units, such as nations, states, regions, counties, cities or even neighborhoods
57
business purchases
more complex decisions, large sums of money, complex technical and economic considerations, interactions among people at many levels
58
In marketing, the definition of market targeting is?
The process of evaluating each market segment's attractiveness and selecting one of more segments to enter.
59
Consumer buyer behavior
buying behavior of final consumers
60
product attributes
design, features, quality
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competitive advantage
advantage over competitors gained by offering greater customer value either by having lower prices or providing more benefits that justify higher prices
62
business analysis
a review of the sales, cost, and profit projections for a new product to find out wether these factors satisfy the companies objectives
63
purchase intention
predisposition to buy a certain brand by matching purchase motives with attributes of brands considered
64
factors influencing consumer behavior, personal
age, stage of life, occupation, economic environmental situation, lifestyle, personality
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nature of the business market buying unit
more decision participants, more professional purchasing effort
66
The concept of lifestyle in marketing is defined as?
A person's pattern of living as expressed in his or her activities, interests, and opinions.
67
what are the factors that influence consumer behavior
cultural, social, personal, psychological, buyer
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age and life-cycle segmentation
dividing a market into different age and lifecycle groups
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consumer product
product bought by final consumer for personal consumption
70
to be useful market segments must be...
measurable, accessible, substantial, differentiable, actionable
71
Which of these is NOT a way for a firm to obtain a new product?
receive one from the government
72
In marketing, brand equity is defined as:
The positive differential effect that knowing the brand name has on customer response to the product/service or its marketing.
73
the selective perception process
selective exposure, selective attention, selective comprehension, selective retention
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what stage of the product life cycle would this characteristic match? "rapidly rising sales"
growth
75
________ simply describes the appearance of a product.
style
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demographic segmentation
dividing the market into segments based on variables such as age, life-cycle, gender, income, occupation, education, religion, ethnicity, and generation
77
In marketing and buyer behavior, the term 'opinion leader' refers to?
Person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts social influence on others
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Several companies sponsor times when employees take some time away from their work to develop new ideas. These ________ are legendary at Facebook.
hackatons
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things that influence innovation's rate of adoption
relative advantage, compatibility, complexity, divisibility, communicability
80
Depth refers to the...
number of variations/versions offered of each product in the line
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Attitude
person's relatively consistent evaluations, feelings, and tendencies toward an object or idea (difficult to change)
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Problem recognition (motivation)
consumer perceives a need and gets motivated to solve the problem
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factors influencing consumer behavior, cultural
culture, subculture, social class
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brand extension
new product category and existing brand name
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factors influencing consumer behavior, social
groups, social networks, family, roles, status
86
preemptive
competitors cannot easily copy the difference
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positioning
position the market offering in the minds of target customers
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brand value
the total financial value of a brand
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information search (perception)
retrieving information from internal and external searches
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derived demand
business demand that comes from the demand from consumer goods
91
A competitive advantage in marketing is defined as:
An advantage over competitors gained by offering consumers greater value, either through lower prices or by providing more benefits that justify higher prices.
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The concept of learning in marketing is defined as?
Changes in an individual's behavior arising from experience.
93
business buyer behavior
purchasing goods and services are used in the production of other products and services
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line extension
existing product category and brand name
95
test marketing
the stage of new-product development in which the product and marketing program are tested in more realistic market settings
96
Primary
family, friends, neighbors, informal communication
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segmentation
divide total market into smaller segments
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what stage of the product life cycle would this promotion strategy match? "reduce to minimal level"
decline
99
profitable
the company can introduce the difference profitably
100
purchase decision (integration)
using purchase intention and band loyalty to purchase an item
101
buying center
all the individuals and units that play a role in the purchase decision-making process
102
targeting
select the segment or segments to enter
103
The marketing team at Clear Cite Industries is interested in reaching consumers who have various lifestyles, so their marketing approach should use ________ segmentation.
geographic
104
factors influencing consumer behavior, psychological
motivation, perception, learning, beliefs, attitudes
105
supplier development
systematic development of networds of supplier-partners to ensure a dependable supply of products and materials
106
post purchase evaluation (learning)
satisfaction or dissatisfaction felt when expectations are met or not
107
Environment of the model of buyer behavior
Marketing stimuli and other
108
reference groups
influence directly (membership groups) or indirectly on attitude or behavior
109
reasons a new product fails?
they are incorrectly positioned, they are priced too high, they are leached at the wrong time.
110
Other parts of the environment of buyer behavior
Economic, technological, social, cultural
111
ways a firm obtain a new product?
purchase another firm with dif products, develop a new brand, modify an existing product
112
shopping product
consumer good that the customers, in the process of selection and purchase, characteristically on such bases
113
culture
set of basic values, perceptions, wants, and behaviors learned by an individual from family and other important situations
114
The concept of target market as it pertains to marketing is defined as:
A set of buyers sharing common needs or characteristics that the company decides to serve.
115
actual product
brand name, features, quality, design, packaging
116
evaluation criteria
dimensions or attributes of a product that are used to compare different alternatives
117
fashion
a currently accepted or popular style in a given field
118
which of these is usually not a reason that new products fail
they are made overseas
119
modified rebuy
buyer wants to modify product specifications, prices, terms, or suppliers
120
In marketing, the concept of problem recognition is defined as?
The stage of the business buying process when someone in the company recognizes a problem or need that can be met by acquiring a specific product or service. Can result from internal or external stimuli
121
How many stages are in the product life cycle?
4 stages, not considering the product development stage
122
distinctive
competitors do not offer the difference, or the company can offer it in a more distinctive way
123
secondary
professional, coworker, formal communication
124
brand loyalty
preference for a particular brand that results in repeated purchases
125
motivation
a motive (drive) is a need that is sufficiently pressing to direct a person to seek satisfaction.
126
how business markets differ from consumer markets
market structure and demand, nature of the buying unit, types of decisions and the decision process
127
social class
relatively permanent and ordered divisions in a society whose members share similar values, interest, and behaviors
128
product development
developing the product concept into a physical product to ensure that the product idea can be turned into a workable market offering
129
In marketing, we define a product as:
Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.
130
what stage of the product life cycle would this promotion strategy match? "reduce to take advantage of heavy consumer demand"
growth
131
external search
seeking information from external sources (internet, commercial, personal such as family or friends)
132
subculture
group of people with shared value systems based on common life experiences and situations
133
cognitive dissonance
Psychological tension experienced after a difficult purchase choice
134
stages in the consumer decision-making process
problem recognition, info search, alternative eval, purchase decision, post purchase eval
135
brand equity
the differential effect that knowing the brand name has on customer response to the product or its marketing
136
maslow's hierarchy of needs
self actualization needs, esteem needs, social needs, safety needs, physiological needs
137
Commercialization focuses on finding new ways to solve customer problems and create more customer satisfying experiences.
false
138
new task
buyer purchases a product or service for the first time
139
what stage in the product life cycle is "phase out weak items"?
decline
140
roles and status
role consists of activities a person is expected to perform, each role in turn connotes a status
141
142
A good product ________ contributes to both the product's appearance but also the product's usefulness.
design
143
psychographic segmentation
dividing a market into different segments based on lifestyle or personality characteristics
144
systems selling (or solutions selling)
buying a packaged solution to a problem from a single seller, avoids the separate decisions involved in a complex buying situation
145
what stage in the product life cycle is "offer a basic product"?
introduction
146
commercialization
introducing a new product into the market
147
Buyer's black box
buyer's characteristics, buyer's decision process
