MAR4503: Exam 1 Study Guide Questions with Correct Answers
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Course
MAR
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MAR
_____ include(s) advertising, the sales force, public relations, packaging, and any other signal that the firm provides about itself and its products. Correct Answer-Marketing communications
Which is NOT a step in the consumer's decision process? Correct Answer-self-concept analysis
To be suc...
MAR4503: Exam 1 Study Guide Questions with
Correct Answers
_____ include(s) advertising, the sales force, public relations, packaging,
and any other signal that the firm provides about itself and its products.
Correct Answer-Marketing communications
Which is NOT a step in the consumer's decision process? Correct
Answer-self-concept analysis
To be successful, a product must Correct Answer-meet the needs of the
target market better than the competition does
What does the consumption of a product like Nikes mean to Andre, the
working poor consumer discussed in the "Consumer Insight"? Correct
Answer-they serve as a visible symbol that he is back as a successful
member of society
John purchases and is satisfied with his SUV because he believes that it
provides greater crash safety than a sedan even though this is not
technically true. John's satisfaction is based on the distinction between
_____. Correct Answer-actual need fulfillment and perceived need
fulfillment
Harold is tasked with developing the marketing strategy for his family's
business. What should he do first? Correct Answer-conduct a market
analysis
,Which of the following is NOT evaluated when analyzing a company's
own ability to meet customer needs? Correct Answer-competitors
______ is the amount of money one must pay to obtain the right to use
the product. Correct Answer-Price
Which of the following aspects is evaluated when determining a firm's
ability to meet customer needs? Correct Answer-all of the above
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? Correct
Answer-conducting a market analysis
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 _____. Correct Answer-customer value
What is the first step in market segmentation? Correct Answer-identify
product-related need sets
,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? Correct Answer-describing each group
Which term reflects the fact that most products in developed economies
satisfy more than one need? Correct Answer-need set
Which of the following is a societal outcome of marketing strategy and
consumer behavior? Correct Answer-social welfare
Which of the following is used to describe a group of consumers with
similar needs sets? Correct Answer-a, b, and c
Which of the following is NOT true regarding consumer behavior?
Correct Answer-The overall model of consumer behavior presented in
the text is accurate in predicting consumer behavior.
How can an organization provide superior customer value to customers?
Correct Answer-by doing a better job of anticipating and reacting to
customer needs than the
, Marketing strategy begins with _____. Correct Answer-conducting a
market analysis
The product, price, communications, distribution, and services provided
to the target market is referred to as the _____. Correct Answer-
marketing mix
Which time perspective views time almost as a physical object believing
that a person does one thing at a time? Correct Answer-monochronic
time perspective
Using one marketing strategy across various cultures is referred to as
_____. Correct Answer-standardization
Charmaine is a member of a junior miss organization that teaches young
women how to behave in various social situations. She is learning
manners, how to carry herself, and appropriate attire for specific
situations. Charmaine is learning _____. Correct Answer-etiquette
The fact that Americans are prone to engage in physical activities and to
take an action-oriented approach to problems can be explained through
which self-oriented value dichotomy? Correct Answer-active/passive
Which of the following statements is FALSE regarding cross-cultural
marketing? Correct Answer-While marketing strategy is heavily
influenced by cultural factors, it does not influence aspects of cultures.
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