UTA Quiz Chapters 5-9

An error that occurs when a sample drawn from a population differs from the target population

Which one of these terms is not a metric used to increasing the effectiveness of social media campaigns

A value derived from a product or service that helps the consumer solve problems and accomplish tasks is

Which one of these answers is NOT on of the 3 types of basic questionnaire questions

Relationship marketing and strategic alliances are new concepts

People or organizations with needs or wants and the ability and willingness to buy

Segmenting markets based on personality, motives, lifestyles and geodemographics

Women contribute to 37% of the GDP and in the US they drive 80% of the purchases of consumer goods each year

Business customers who consider numerous suppliers, solicit bids and study all proposals carefully before selecting one

Deciding to purchase any product or service is based on:

Consumption patterns among people of the same age & gender vary because they may be in different stages of HLC

Which statement is false: Marketing research helps managers

Types of consumer buying decisions

Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services

Technology is changing how people make decisions

A value that acts as an end in itself rather than a means to an end

Getting consumers to recognize the "want-got gap" is NOT a marketing manager's objective

If a marketer wishes to appeal to more than 1 segment of the market, it must develop different marketing mixes

The process of seeking information in the outside environment

Which one of these research methods is NOT a form of people watching people

Successful alliances are not built on commitment and trust

Consumers always follow all 5 steps in the decision making process.

For low-involvement product purchases, in-store promotion and targeted mobile ads are important tools

Select the correct statements: When a consumer has psychological ownership of a product....

Business customers who place an order with the first familiar supplier to satisfy product and delivery requirements

A product bought to satisfy an individual's personal wants or needs

Own 51% of all the wealth in the country with $2.6 trillion in buying power

Which one of these items is not a psychographic variable

Psychological ownership is when a consumer feels a sense of ownership of a product

A NEED is the result of an imbalance between your actual and desired state

Relationship marketing does not entail seeking & establishing ongoing partnerships with customers

The value a consumer expects to obtain from a purchase is Perceived value

When a significant number of customer are switching brands

Marketing goods and services to individuals & organizations for purposes other than personal consumption

The most popular technique for gathering primary data - a researcher interacts with people to obtain facts, opinions etc

Mystery shoppers are a real thing - It is when researchers posing as customers gather observational data about a store

Data previously collected for any purpose other than the one at hand

A WANT is the recognition of an unfulfilled need and a product that will satisfy it

Accessibility means: The firm must be able to reach members of targeted segments with customized marketing mixes

A situation that occurs when sales of a new product cut into sales of a firm's existing products

To meet the needs & wants of expanding ethnic populations, some companies have campaigns for specific ethnic groups

The process of dividing a market into meaningful, relatively similar and identifiable segments or groups

Trends that will lead to the continued growth of CRM (select all that apply)

Things marketers use or highlight to position themselves uniquely (select all that apply)

Cultural, Social, Individual and Psychological factors affect consumer decision making

The ___________ effect is anticipating receiving a highly desirable option only to have it become inaccessible

A perspective whereby a consumer perceives themself as distinct and separate from others

A strategic marketing approach that focuses on creating & distributing content that is valuable, relevant & consistent

Segmenting markets by regions or country or the world, market size, market densisity or climates

Marketers segment markets because:

Information that is collected for the first time; used for solving the particular problem under investigation

A product information source than is not associated with advertising or promotion

Changing consumer's perceptions of a brand in relation to competing brands

A series of stages determined by a combination of age, marital status and the presence or absence of children

Developing a specific marketing mix to influence potential customers' overall perception of a brand, product line or org

Marketing researchers use the internet to:

The practice of examining merchandise in a physical retail location without purchasing it & then shopping online for it

Strategic alliances/ strategic partnerships can take the form of joint ventures, distribution or licensing agreements

A positioning strategy that some firms use to distinguish their products from those of competitors

Survey error -When there is a difference between the info. the researcher desires & the info the measurement provides

Individuals & Organizations that buy goods & incorporate them inro the product they produce for sale to consumers

An error that occurs when a sample drawn when the selected sample is imperfect representation of the overall population

The process of grouping customers based on the behaviors they exhibit, including what they buy, where they buy, and how

Socialization is how cultural values and norms are passed down to children

80/20 principle says 20% of customers generate 80% of the demand

A segment must be large enough to warrant developing & maintaining a special marketing mix

Which statement is false: Neuromarketing study microscopic changes in_________ to see how consumers react to ads

A product information source than is originates with marketers promoting the product

An error that occurs when a sample somehow does not represent the target population

The set of values, norms, attitudes and other meaningful symbols that shape human behavior & are shared with generations

The extend to which an individual conducts an external search depends on his or her

The process of planning, collecting and analyzing data relevant to a marketing decision

Neuromarketing is a field of marketing that studies the body's response to marketing stimuli

The process of grouping customers into market segments according to the benefits they seek from the product

Income level influences consumers wants and determines their buying power

Rapid changes in digital technology has given consumers:

The process of recalling information stored in memory

A small intervention that can change a person's behavior is called a nudge

This demographic segmentation is the "most technology-proficient generation ever". social media & online shopping matter

Select all of the items that are a type of business product

Which one of these answers is NOT one of the three types of purchases

A five step process consumers use when buying goods

Consumers always make rational decisions

Which one of these categories is NOT one of the four major categories of business customers

A perspective whereby a consumer perceives themself as an integral part of a group

Which one of these research methods is NOT one of the four types of observation research methods

Marketers do NOT use research to understand what's going on in the marketplace and to take advantage of opportunities

Specifies which research questions much be answered, how and when the data will be gathered and how it will be analyzed

For high-involvement product purchases, marketing manages should engage in extensive and informative promotions

Segmenting markets by age, gender, income, ethnic background and household life cycle