(Test Bank) Consumer Behavior, Building Marketing Strategy

Mothersbaugh, 14

Business

Test Bank

14th Edition

• $15.00 $50.00

---

Description

Test Bank for Consumer Behavior, Building Marketing Strategy, The downloadable file consists of 838 pages, and the total size of the file is 4.62 MB. Purchase now only for highly discounted price.

Author(s): Mothersbaugh

---

---

Study Note Preview

Version 1 1 CHAPTER 1 TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false. 1) Consumer behavior is a complex, multidimensional process. ⊚ true ⊚ false 2) Marketing decisions and regulations are based on exact knowledge of consumer behavior. ⊚ true ⊚ false 3) Economically developed societies are often referred to as marketing societies. ⊚ true ⊚ false 4) It is critical that a firm consider value from the customer's perspective. ⊚ true ⊚ false 5) Marketing strategy begins with objective setting. ⊚ true ⊚ false 6) Product features, price, communications, distribution, and services together are often referred to as customer value. ⊚ true ⊚ false 7) Holiday shoppers who primarily care about time savings are known as Black Friday shoppers. ⊚ true ⊚ false Version 1 2 8) Marketing skills include a firm's financial expertise, general managerial skills, production capabilities, research and development capabilities, technological sophistication, and reputation. ⊚ true ⊚ false 9) Tracking consumers' online activity and sending them specific banner ads based on that activity is known as behavioral targeting. ⊚ true ⊚ false 10) The term used to reflect the fact that most products in developed economies satisfy more than one need is customer value. ⊚ true ⊚ false 11) A target market is that segment(s) of the larger market on which a company will focus its marketing effort. ⊚ true ⊚ false 12) The outcomes of a firm's marketing strategy are determined by its interaction with the consumer decision process. ⊚ true ⊚ false 13) Two key processes involved in need satisfaction are the actual need fulfillment and the perceived need fulfillment. ⊚ true ⊚ false 14) A consumer's needs and desires are shaped by his or her self-concept and lifestyle. Version 1 3 ⊚ true ⊚ false 15) Lifestyle is the totality of an individual's thoughts and feelings about him- or herself. ⊚ true ⊚ false MULTIPLE CHOICE - Choose the one alternative that best completes the statement or answers the question. 16) The rise of social media has A) shifted power from marketers to consumers. B) helped to strengthen the shift of power from consumers to marketers. C) helped give rise to the development of online crowd seeking. D) helped marketers like CVS listen and adapt to consumers in real time. E) shifted power from marketers to consumers and helped marketers like CVS listen and adapt to consumers in real time. 17) __________ is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. A) Marketing B) Consumer behavior C) Psychographics D) Demographics E) Psychology 18) One primary function of Harriet's job is to study individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of her company's products and services to satisfy needs and the impacts that these processes have on the consumer and society. Harriet works in the field of __________. Version 1 4 A) social psychology B) cognitive psychology C) management D) consumer behavior E) organizational behavior 19) Which of the following is not true regarding consumer behavior? A) Organizations are applying theories and information about consumer behavior on a daily basis. B) It is often necessary to conduct research. C) Consumer behavior is a complex, multidimensional process. D) The overall model of consumer behavior presented in the text is accurate in predicting consumer behavior. E) Marketing practices designed to influence consumer behavior involve ethical issues that affect the firm, the individual, and society. 20) Which of the following is a key aspect regarding consumer behavior? A) Organizations are applying theories and information about consumer behavior on a daily basis. B) It is often necessary to conduct research. C) Consumer behavior is a complex, multidimensional process. D) Marketing practices designed to influence consumer behavior involve ethical issues that affect the firm, the individual, and society. E) All of these choices are correct. 21) Which of the following is not an application of consumer behavior? A) marketing strategy B) human resource management C) regulatory policy D) informed consumers E) social marketing Version 1 5 22) Thomas wants to gain a usable understanding of consumer behavior in order to help him become a more effective marketing manager. Which application of consumer behavior does this represent? A) marketing strategy B) regulatory policy C) social marketing D) informed consumers E) resource management 23) __________ is the application of marketing strategies and tactics to alter or create behaviors that have a positive effect on the targeted individuals or society as a whole. A) Social marketing B) Consumer behavior C) Regulation D) Proactive marketing E) Ethical marketing 24) Mia is concerned how her marketing activities will affect individual consumers as well as society at large. Mia is implementing A) conscientious marketing. B) regulated marketing. C) ethical marketing. D) proactive marketing. E) social marketing. 25) Most economically developed societies are legitimately referred to as __________ societies. Version 1 6 A) marketing B) proactive C) consumption D) competitive E) enhanced 26) Which of the following is used by firms to influence consumers? A) ads B) packages C) store environments D) sales pitches E) All of the choices are correct. 27) To survive in a competitive environment, an organization must provide its target customers more __________ than is provided to them by its competition. A) product B) service C) value D) feedback E) attention 28) The difference between all the benefits derived from a total product and all the costs of acquiring those benefits is known as A) price. B) position. C) consumer behavior. D) customer value. E) equity. Version 1 7 29) Laurie saved for six months to have enough money to buy a new designer outfit to wear to a special party. She had to travel to a larger city to purchase this outfit, but it was worth it to her because it made her feel beautiful and confident. The difference between the benefits Laurie perceived from this purchase and the cost to her to acquire these benefits describes her A) consumer behavior. B) customer value. C) motivation. D) equity difference. E) perceptual field. 30) It is critical that a firm consider value from which perspective? A) the competition's B) the firm's C) the customer's D) the government's E) the industry's 31) How can an organization provide superior customer value to customers? A) by conducting market research B) by offering their products at the lowest price C) by offering extended warranty coverage on products D) by doing a better job of anticipating and reacting to customer needs than the competition does E) by offering more variations of a product 32) Marketing strategy begins with A) market segmentation. B) targeting. C) conducting an outcomes assessment. D) objective setting. E) conducting a market analysis. Version 1 8 33) Harold is tasked with developing the marketing strategy for his family's business. What should he do first? A) segment the market B) conduct a market analysis C) decide on which segments to target D) develop the marketing mix E) set objectives 34) Marketing strategy is formulated in terms of the marketing mix; that is, it involves determining the product, features, price, communications, distribution, and services that will provide customers with superior value. This entire set of characteristics is often referred to as the A) total product. B) customer value. C) offering. D) value proposition. E) total value. 35) Disney World in Orlando, FL has several theme parks, resorts, restaurants, and stores. Each is intentionally created to offer a memorable event for visitors. For example, the Wilderness Lodge is a large resort hotel on the grounds, and everything within it is made to look like log cabins and pioneer days. Even the casual restaurant has the wait staff dressed in pioneer costumes, and they put on funny little skits when they are waiting on customers. Which of the following best describes what Disney is selling? A) a product B) a service C) a bundled product D) a bundled service E) an experience 36) A holiday shopper who cares about efficiency and stress reduction is known as a(n) __________ shopper. Version 1 9 A) Black Friday B) Early Bird C) Last Minute D) Reluctant E) Steady 37) Which of the following is a component of a market analysis? A) market segmentation B) objectives C) conditions D) price E) All of these choices are correct. 38) Darren is conducting a market analysis for his business, and he has asked your advice on what he should be analyzing. Which of the following should he consider at this step of marketing strategy development? A) the company's own ability to meet customer needs B) competitors' capabilities and strategies C) consumers' needs D) conditions in the market E) All of these choices are correct. 39) Jamie is developing a thorough understanding of his company's own capabilities, the capabilities of current and future competitors, the consumption process of potential customers, and the economic, physical, and technological environment in which these elements interact. Which step in the marketing strategy process is Jamie performing? A) setting objectives B) segmenting the market C) conducting a market analysis D) assessing the outcomes E) targeting the market Version 1 10 40) Which of the following aspects is evaluated when determining a firm's ability to meet customer needs? A) financial condition B) general managerial skills C) production capabilities D) technological sophistication E) All of these choices are correct. 41) Which of the following is not evaluated when analyzing a company's own ability to meet customer needs? A) competitors B) financial strengths C) general managerial skills D) production capabilities E) reputation 42) As part of developing your company's marketing strategy, you are tasked with analyzing the new-product capabilities, channel strength, advertising abilities, service capabilities, marketing research abilities, and market and consumer knowledge. Which aspect of your company's capabilities are you assessing? A) financial strength B) marketing skills C) general managerial skills D) production capabilities E) reputation 43) A portion of a larger market whose needs differ somewhat from the larger market is referred to as a(n) Version 1 11 A) market segment. B) niche. C) subgroup. D) ancillary market. E) secondary market. 44) Smaller women like to purchase fashionable clothes just as much as any women. However, most clothes are not proportioned for their smaller size and do not fit well. As a result, several manufacturers offer "petite" sizes of clothing for this group of consumers. Women who comprise this group have needs that differ somewhat from the total market and represent a A) demographic segment. B) lifestyle segment. C) market potential. D) sub-market. E) market segment. 45) Tracking consumers' online activity and delivering specific banner ads based on that activity is known as A) clickstream. B) blogging. C) spam. D) behavioral targeting. E) electronic targeting. 46) Tacoda Systems tracks consumers' online activity and delivers specific banners based on that activity. This tracking and ad delivery system has been installed on almost 3,000 websites, and advertisers pay on a pay-for-performance basis, which means that advertisers pay Tacoda Systems only when a consumer clicks on their ad. The tracking of online activity and delivery of ads based on that activity is called Version 1 12 A) click-throughs. B) behavioral targeting. C) spamming. D) blogging. E) cookie targeting. 47) What is the first step in market segmentation? A) describe each group B) group customers with similar needs sets C) identify product-related need sets D) select an attractive segment to serve E) set objectives for segmenting 48) What is the last step in market segmentation? A) describing each group B) selecting an attractive segment(s) to serve C) identifying product-related need sets D) grouping customers with similar need sets E) deciding the segmenting scheme 49) Which of the following is not a step in market segmentation? A) set budget B) identify product-related need sets C) group customers with similar need sets D) describe each group E) select an attractive segment(s) to serve 50) Carlos is attempting to segment the market for his company's products. Where should he begin? Version 1 13 A) set objectives B) identify product-related need sets C) group customers with similar need sets D) describe each group E) select an attractive segment(s) to serve 51) Which term reflects the fact that most products in developed economies satisfy more than one need? A) multiplicity B) duplicity C) need array D) need set E) value proposition 52) Barry is looking for a car that is dependable yet stylish enough to let others know that he has achieved a respectable status in his life and career. He also wants it to be a high-performance automobile. Dependability, status, and performance represent Barry's A) self-image. B) need set. C) alter ego. D) unarticulated needs. E) lifestyle. 53) Which of the following is used to describe a group of consumers with similar needs sets? A) demographics B) lifestyles C) media usage D) demographics and lifestyles E) demographics, lifestyles, and media usage Version 1 14 54) Talbot's is a women's clothing store that offers classic fashions at a slightly premium price (i.e., a wool skirt typically costs over $100). During the process of market segmentation, Talbot's identified a group of consumers who are larger than average women yet still want stylish clothing. Further research into this segment revealed that these women tend to be between the ages of 35 and 50, are career-oriented, have a household income over $50,000, and are married with children under the age of 18 living at home. This group is also heavy users of magazines and newspapers as well as prime-time television. Which step of market segmentation does this describe? A) identifying product-related need sets B) grouping customer with similar need sets C) describing each group D) selecting an attractive segment(s) to serve E) profiling current customers 55) The segment(s) within the larger market on which an organization will focus its marketing effort is referred to as the A) need set. B) target market. C) customer set. D) strategic market. E) primary market. 56) J&J Produce is a distributor of fresh produce. They conducted a thorough analysis of its market and identified groups of consumers that had similar product-related needs. One particular market identified wanted fresh and unique produce, such as Swiss chard, radicchio, and exotic fruits, and they were willing to pay higher prices for these choices. J&J Produce decided to focus its marketing effort on this segment of the total market. This segment is J&J's A) need set. B) primary market. C) customer set. D) target market. E) market focus. Version 1 15 57) Which of the following is used to evaluate the attractiveness of various market segments? A) segment size B) distribution available C) fit with company image D) cost to serve E) All of these choices are correct. 58) Juan has segmented the market for boats and is currently analyzing each with respect to several factors, such as size, growth rate, competitor strength, fit with company image, distribution available, cost to serve, and risk before deciding which segment to target. Which step of market segmentation is Juan conducting? A) identifying product-related need sets B) grouping customer with similar need sets C) describing each group D) selecting an attractive segment(s) to serve E) profiling current customers 59) The product, price, communications, distribution, and services provided to the target market is referred to as the A) need set. B) marketing mix. C) marketing set. D) decision set. E) value proposition. 60) Which of the following is part of the marketing mix? A) product B) price C) communications D) distribution E) All of these choices are correct.