Principles of MARKETING 25010 MIDTERM MINI TEST STUDY GUIDE Bold test answer MINI TEST 1 1 TravelTex com A Place Texas 2 Best Buy better than Circuit City Best Buy has provided customer satisfaction and value with good services 3 Relatively homogeneous prospective buyers market segments 4 Diversification selling new products to new markets 5 Marketing dashboard glance EXCEPT a printed report 6 Microsoft s Xbox video game quality goal 7 Organizational buyer a store owner buying hand painted slate signs to 8 Products development selling new products to current markets 9 Crash the Super Bowl Doritos 10 Don Kosec Marketing is very important and its main goal is to drive sell in her store sales 11 Birthday card exchange Buy one from the local grocery store 12 Market orientation focuses its efforts on 1 continuously collecting info about consumers needs 2 sharing this info 13 Service services are intangible items 14 Tessitura art groups relationship marketing 15 Rhone Poulenc competency 16 The marketing department of an organization is responsible for 17 Market development selling current products to new markets 18 NOT basic concept of marketing Provide an outlet for engineering s new ideas 20 Figure 1 2 B suppliers 19 Tim Apel organization Family entrepreneurship selling a product 21 Products and services purchased ultimate consumers 22 Organizational culture MOST ACCURATE organizational culture involves communicating and connecting with all of the firm s stakeholders 23 Marketing department relationships partnerships and alliances with the organization s customers shareholders 24 History American business marketing concept 25 NOT requirement marketing to occur Only one of the parties has something of value 26 1 2 3 market orientation 27 First objective needs to create products that could satisfy them 28 Figure 2 2 A organizational foundation 29 Organizational strategies 1 the strategy s level in the organization and 2 the offerings an organization provides to its customers 30 Organization is a legal entity that consists of MINI TEST 2 1 Lifestyle Analytic Matrix Age is not the key factor nut rather the defining moments in cohort s formative years 2 Newcastle Brown Ale crowdfunded 3 SWOT finds weakness once discovered you should work to convert weaknesses to strengths 4 Periods of recession EXCEPT 2010 2013 5 Seven of top ten cities near the Mexican border 6 Coffee consumers 18 24 increased from 2003 to 2012 7 Ink RFID technological 8 Largest population in 2050 India 9 Coca Cola brand police In order to maintain the use of its widely recognizable trademark Coca Cola must prevent the name from becoming generic MINI TEST 3 1 An Intention to purchase a particular product i e purchase intention 2 Protect against unreasonable risk Consumer Product Safety Commission 3 Summit County Children Services Social needs 4 Child death caused by accidents Nationwide 5 Low involvement purchase Biolage shampoo 6 1 2 3 adding new attributes to the product 7 VALS framework FALSE A consumer s gender and age have a direct effect on placement within a VALS consumer segment 8 Kendal MOST LIKEYLY a new outfit for her first day 9 Marketer dominated source of info a product display in a retail store 10 Elementary school teacher internal search 11 Woodmen of the World insurance Safety Needs 12 Involvement for grocery shopping Low Involvement 13 Clearasil influenced by consumer responses to them 14 Ideals motivated conservative Believers 15 Jerald 32 gig iPad purchase decision 16 Cadbury Canada cause marketing 17 Economic espionage searching through a competitor s trash 18 VALS Reader s Digest Believers 19 High involvement EXCEPT evaluate a single product attribute such as price 20 College ages child fulfilling Information Gatherer 21 Con Kosec ethics NOT ACTUALLY he made ALL of these points 22 Avoid high pressure selling It is not good for long term business relationships 23 Rob has 30 minutes temporal effects 24 Economic Espionage searching through a competitor s trash 25 First step in social audit recognize a firm s social expectations and te rationale for engaging 26 Group of brands consideration set 27 Three teenage girls spent social surroundings 28 Two VALS segments stand apart Innovators Survivors 29 HP laptops in their living room helping consumers to recognize a problem they can help to solve 30 More and more hungry Internal need states 31 Sales of unsafe products NOT reason the ease of manufacturing products today 32 Michele Skinn s key their motivation 33 One s attitudes and beliefs selective exposure 34 Employees report unethical or illegal actions whistle blowers 35 Arrowhead Brand Mountain Spring sustainable development 36 Perceived risk the anxiety felt because the consumer cannot anticipate the outcomes of a purchase but 37 Sustainable development conducting business in a way that protects the natural environment while 38 Linda fat free cheeses stimulus discrimination 39 Student missed lunch Internal need states 40 High Definition flat screen television High Involvement 41 Evaluate various alternatives and end up with an intention to purchase a particular product 42 VALS time saving hectic Achievers 43 Tums changing the perceived importance of a specific attribute 44 Clorox uses Good Housekeeping Seal perceived risk 45 Motivation the energizing force that stimulates behavior to satisfy a consumer need MINI TEST 4 46 Satisfying customer needs and enhancing corporate sales and profits 1 Modified Rebuy a new edition of a textbook 2 H R Block Tax and Felber Felber Services 3 International Trade 1 Canada line 5 New Buy Straight buy and modified rebuy 6 Victoria Azarenka opinion leader 4 New Buy a new robotic manufacturing line to replace the old manual 7 Deliberate effort shape suppliers products supplier development 8 Related and supporting industries existence of supplier clusters 9 Self appraisal as a source of reference groups 10 Buzzsaw com and Cephren com e marketplaces 11 Hershey sugar substitutes Alternative evaluation 12 German automotive engineering Demand Conditions 13 MITN Vistaprint s research businesses PERCIEVE that the brand has low quality 14 Hershey growing concern diabetes Problem recognition 15 Dynamic of world trade MOST ACCURATE The U S Western Europe Canada China and Japan together account for more than 2 3 16 Objective for business firms increase profits through reducing costs or increasing revenues 17 MOST ACCURATELY global perspective imports and exports should be