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442 T1. MC

Marketing is defined as an exchange between a firm and its customers. (T/F)
True
Customers typically do not mind paying for purchases (T/F)
True
Marketers try to figure out what customers want and then they try to figure out how to provide it and make money doing so. (T/F)
True
In an exchange, the customer wants something from the company but the company wants nothing from the customer. (T/F)
False
Companies like taking in profits more than they care about their customers. (T/F)
False
The term “market” sounds like it involves selling simple, tangible goods, but as you know, hardly anything can be marketed. (T/F)
False
Marketers help athletes, celebrities, and politicians with their images in their respective marketplaces (to fans and agents, intelligentsia, or the public). (T/F)
True
Some things that can be marketed include goods, services, experiences, events, and people. (T/F)
True
These days we live in a truly product-oriented and product-empowered marketing world. (T/F)
False
Many management gurus believe that marketing has succeeded so well that it really isn’t a function in an organization anymore. (T/F)
True
Diana is the marketing vice president at Company ABC. As she assesses any particular business problem or opportunity in terms of general analysis, she should review the 5Ps. (T/F)
False
One of the factors currently stressing marketers is the pressure to show results (T/F)
True
Marketing management is the overseeing of the process of the 5C, STP, and 4P components (T/F)
True
You’ll always be a step ahead of your competition if you simply think about your company. (T/F)
False
The 5Cs, STP, and 4Ps operate interdependently (T/F)
True
Every purchase begins with an assessment of convenience or wants (T/F)
False
Buyers look for possible products and try to find information to guide them as to which might be the best brand for their unique situation. (T/F)
True
The buying process varies depending on whether the buyer is a consumer or a business. (T/F)
False
B2B marketers have identified four kinds of purchases. (T/F)
False
Cultural and social factors heavily influence differences in customer preferences (T/F)
True
Great marketing is based on sound, logical—emotional and physical—laws of human and organization behavior. (T/F)
False
Country, culture, and subculture influence consumer purchases but NOT organizational purchase decisions. (T/F)
False
Marketers try to figure out what _____ want and then they try to figure out how to provide it and make money doing so.
customers
Which of the following is defined to be an exchange between a firm and its customers?
marketing
If companies are good and if they’re lucky, the exchange continues iterating between the customer and the company, _____ the tie between them.
strengthening
Marketers help/work with all of the following EXCEPT
All can be helped by marketers (athletes, hotels, department stores)
On what did the early marketplace primarily focus
product
Today’s marketplace is focused more on
customers
Marketing is thought to be evidence of an evolved
market
What is the result companies see from happier customers due to marketing?
companies are more profitable
The letters CMO represent
Chief Marketing Officer
Advertising’s goal is to enhance
brand image
Which of the following is not part of the 5Cs
corporation
A company’s marketing executives should assess the _____ in terms of a general analysis of a business problem or opportunity the company is facing.
5Cs
Which of the following is NOT a part of STP?
All are part of STP (segmentation, positioning, targeting)
The 4Ps include all of the following except
positioning
Fundamentally, the best marketers put themselves in the place of their
customers
What order is correct for a situation analysis
5Cs, STP, 4Ps
What kind of customer is an agent buying something on behalf of an organization?
business
Which approach assumes that a customer would compare all the possible brands along the attribute or dimension that is most important to them?
lexicographic
B2B marketers have said there are three kinds of purchases – new buy, modified rebuy, and
straight rebuy
Which of the following is NOT involved in a B2B purchase?
administrator
Brian is a recent college graduate employed as a sales representative at a medical equipment company. Brian’s boss, the VP of marketing, is explaining the concept of “buying centers” in B2B marketing. His boss indicates that with big, expensive, complicated business purchases, it’s not just one person making the decision and that each purchase involves a half dozen or so roles. Further, the VP says that person who first kicks-off the purchase process is the
initiator
Jon works for Company ABC in the accounting department and is asked to work with the shipping & receiving department as this department considers several options for a new inventory management computer system. Jon most likely plays which role in the purchase decision?
gatekeeper
Ed works for Company ABC as a shipping & receiving department manager. Ed most likely plays which role in Company ABC’s purchase of a new inventory management computer system?
buyer
Pete works for Company ABC as a shipping & receiving department clerk. He picks orders and ships them to customers using the company’s current inventory management system. On several occasions, he has mentioned to management that the current system has some glitches. Pete most likely plays which role in the purchase decision?
initiator
The various factors that impact how buyers form impressions and preferences, collect information, and make brand choices do NOT include
climate factors
Customers go through predictable stages when they make a purchase. (T/F)
True
Marketers can create desires in people that they didn’t previously have. (T/F)
True
A new MBA: student and a recently promoted corporate executive will typically have the same wants. (T/F)
False
During the purchase phase, a consumer will consider all brands available in the market. (T/F)
False
The pre-purchase phase includes identifying the need or want, searching possible solutions, and building a consideration set. (T/F)
True
During the purchase phase, the consumer might ask himself, “What attributes don’t I care about, and therefore will not pay high prices?” (T/F)
True
During the purchase phase, the consumer will ask herself, “Will I tell my friends what a great brand I’ve found?” (T/F)
False
Whether the buyer is a consumer or a business, the phases of the buying process itself is the same. (T/F)
True
John is a buying agent for Starbucks because he buys supplies on behalf of Starbucks. (T/F)
True
Going out to buy bread is the type of purchase that requires some thought or planning ahead of time. (T/F)
False
All purchase are the same (T/F)
False
An example of a specialty purchase would be a new smartphone. (T/F)
True
An example of a modified rebuy is when the copier lease comes up and you want to try a different vendor. (T/F)
True
A high customer involvement B2C purchase is called a specialty purchase. (T/F)
True
During higher involvement purchases, we would expect customers to be more price sensitive. (T/F)
False
It’s important for low-involvement products to be widely available so the customer can pick them up without thinking. (T/F)
True
Consumers can be simple or complex. (T/F)
True
People are selective in their attention to environmental stimuli. (T/F)
True
Colors do not have any cultural meaning. (T/F)
False
The sound of a Mac vs. a PC starting up is an example of how sound or music is important to marketers. (T/F)
True
Sight, sound, smell, taste, and touch are all used by marketers. (T/F)
True
Marketers use subliminal advertising all the time because they know it works very well. (T/F)
False
An ad for dog treats on the side of the home page of dog.com is an example of perceptual fluency. (T/F)
True
Learning is when associations of sights or sounds get stored in short-term memory after many repetitions. (T/F)
False
The jingle, “Two all-beef patties…” is an example of the use of operant conditioning. (T/F)
False
Operant conditioning relies on behavior that is positively reinforced. (T/F)
True
Starbucks has a loyalty program that gives you a free drink after every 5 purchases. This is an example of a fixed ratio reinforcement schedule. (T/F)
True
Marketer’s use Abraham Maslow’s hierarchy of needs by identifying their product with a certain level. (T/F)
True
Marketers use Maslow’s hierarchy of needs to offer an extended brand line so the consumer can start high on the pyramid and work his way down. (T/F)
False
Utilitarian vs. hedonic products means fulfilling needs vs. wants. (T/F)
True
A risk-averse consumer may be an avid customer, very knowledgeable, an opinion leader, and they may wish to try the newest that the market has to offer. (T/F)
False
What motivates consumers is important to marketers. (T/F)
True
An example of importance weights are Mercedes are fast, they’re nice to look at, and they’re expensive. (T/F)
False
When it comes to beliefs and importance weights, marketers try to strengthen positive attitudes about their brand through learning and appealing to consumer motivations that their brand satisfies the consumer’s needs. (T/F)
True
When a consumer looks at the most important attribute of a brand first, and eliminates all brands that do not have this attribute, he is using a lexicographic approach. (T/F)
True
Some socio-cultural effects how consumers respond to brands are social class and age. (T/F)
True
Old monied people indulge in conspicuous consumption. For example buying a yellow Mustang to show off their wealth. (T/F)
False
The current trend in age-related marketing has to do with marketing more towards the older, baby-boomer generation. (T/F)
True
It’s pretty simple to market for various ethnicities and countries since they have similar perspectives. (T/F)
False
Young women are the main buyers of luxury brands in South Korea. (T/F)
True
During the ____ phase of the purchase process, the customer identifies that something is lacking.
pre-purchase
During the purchase phase for a new computer, Larry creates a _____ that includes Apple’s Macbook Pro and Microsoft’s Windows 7, but does not include Linux systems.
consideration set
Which phase of the purchase process generates word of mouth?
post-purchase
Whether the buyer is a consumer or a business, the buying process is ____.
consistent
A ____ item is something that is purchased without much thought before the purchase.
convenience
A straight rebuy, like when the office needs more paper, is common for ____ customers.
B2B
The different types of purchases are different because ______.
of differences in the mind of the customer
Customer involvement is ____ on a B2C specialty purchase.
high
A customer would be more price sensitive when buying gum than when buying ____.
a laptop
A customer loyalty program for high-involvement products would take the form of ____.
brand communities
Which products need to be widely available so the customer can pick them up without thinking?
low-involvement products
The promotion for a high-involvement purchase will have a lot more ____ associated with it.
information
If you are not in the market for a new house, you will most likely ____ ads for new houses.
ignore
If a marketer wants a customer to have a higher motivation to learn more about a product, he should do what?
create customer involvement
Why is Dell’s darker, deep blue color trademarked?
the blue color is well associated to Dell’s brand
Colors convey cultural meaning. In the U.S. brides wear white because it symbolizes ____.
purity
What type of music should be played during an ad if a marketer wants consumers to spend more?
energetic, with a quick tempo
Why are consumers willing to spend so much more for a Harley over a Honda motorcycle?
the distinct sound of a Harley
Why do women who work the cosmetic counters in department stores wish to spray you?
to appeal to your sense of smell, and make you remember the product
What is a classic marketing exercise that is used to declare that one’s own product is superior to the market leader?
blind taste tests
Creating well-designed products is the predominant way of conveying brand imagery through ____.
touch
Which of the following is NOT an example of design?
pleasant smell
When an ad is shown for such a short time that doesn’t meet the threshold of consciousness, it is called _____.
subliminal
_____ is subtle phenomenon that uses colors and fonts to affect how the message feels.
perceptual fluency
Sensory and perceptual impressions can become ____.
brand associations
Learning is the process by which associations get past the sensory and perception stages into _____.
long-term memory
With repetition and elaboration, associations can get into ____.
long-term memory
Ivan Pavlov and his salivating dogs is an example of what type of learning process?
classical conditioning
Which of these is an example of stage 4 of classical conditioning?
the bell rung in front of the dog elicits drool
Philip Morris recently changed their name to Altria ____.
so they could remove the negative association with their name
B.F. Skinner discovered ____ with his studies on pigeons pecking at a target to get a food pellet.
operant conditioning
Operant conditioning is based on _____.
positive reinforcement
Marketers use Maslow’s hierarchy of needs by _____.
identifying their product with a certain level of needs
If a marketer is focusing on people who _____, he will promote a popular brand.
like to conform
What are a mix of beliefs and importance weights?
attitudes
Marketers typically classify customers by ____ on a given purchase.
how much they care about
John is considering buying a new car. It’s important to him that the car has bluetooth. If the car he looks at doesn’t have bluetooth, then he will not consider it for purchase. This is an example of a ____ mechanism.
non-compensatory
People tend to associate and marry people of the same ____.
social class
The baby boomer generation is societal minded, so it is expected that we see large scale ____.
alturism
China’s rising economy is creating a large demand for ____.
luxury goods

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