BAM 306 – Marketing stimuli include all

Subject: Business / General Business
Question
1) Marketing stimuli include all of the following EXCEPT:

A) economic stimuli B) price stimuli C) technological stimuli D) social stimuli E) cultural stimuli

2) ________ consumers are one of the fastest-growing U.S. population subsegments and are expected to surge to nearly one third of the total U.S. population by 2060.

A) African American B) Hispanic American C) Asian American D) Baby Boomer E) Millennial

3) ________ are groups to which an individual wishes to belong, as when a young basketball player hopes to play someday for the Los Angeles Lakers.

A) Membership groups B) Aspirational groups C) Leading adopters D) Subcultures E) Reference groups

4) A ________ consists of the activities an individual is expected to perform according to the people around him/her.

A) motive B) role C) lifestyle D) life cycle E) perception

5) Harley-Davidson promotes its motorcycles with images of independence, freedom, and power. Harley-Davidson has created a ________.

A) motive B) life-cycle stage C) self-concept D) brand personality E) self-actualization need

6) ________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world.

A) Motivation B) Perception C) Dissonance D) Learning E) Self-actualization

7) George is buying his first house. He has spent a month looking at houses and comparing attributes such as price and location. He has contacted several real estate agents to look at different types of houses. George is most likely exhibiting ________.

A) variety-seeking buying behavior B) complex buying behavior C) consumer capitalism D) dissonance-reducing buying behavior E) marketing myopia

8) Business buyer behavior refers to the ________.

A) buying behavior of consumers who buy goods and services for personal consumption B) buying behavior of the organizations buying goods and services for use in the production of other products and services that are sold, rented, or supplied to others C) buying behavior of consumers who rely on small retailers for the regular supply of provisions D) decision process by which business buyers determine which products and services their organizations need to purchase E) strong affinity of businesses for value-for-money deals

9) Jeremy’s, a handbag manufacturer in Lower Manhattan, procures a large stock of leather in anticipation of brisk sales of handbags during December. This is an example of a(n) ________ demand.

A) composite B) derived C) primary D) latent E) inelastic

10) A marketer wanting to determine business buyer behavior is most likely to ask which of the following questions?

A) Are buyers sensitive toward price changes in consumer markets? B) What are the major influences on buyers? C) Are niche markets more profitable than mass markets? D) How do interpersonal factors affect organizational performance? E) Is the role of gatekeepers relevant in the international business environment?

11) Peter Adams, an entrepreneur, decided to start a new technology venture. As he needed servers and computers for his company, he decided to order these from a local vendor who was offering attractive discounts. In this instance, Peter ________.

A) faces a new task situation B) faces a modified rebuy situation C) is most likely to benefit the most from reverse auction D) faces the need for product differentiation E) plans to attract customers by offering products at below-market prices

12) Jason Perkins has the informal power to approve the final suppliers in his organization. In other words, Jason plays the role of a(n) ________ in his organization’s buying center.

A) gatekeeper B) decider C) buyer D) influencer E) user

13) Alpha Stampings Inc. produces 14 metal stampings for the automotive industry. Due to industry design changes and consumer demands, for the next financial year six of those stampings will require a slight change: two will have an extra hole punched through the side, two will require an extra plating process, and two will require an additional weld operation.

In the meantime, purchasing agent Richard Koehl has been asked to reduce the number of Alpha’s steel suppliers in an effort to cut costs. After obtaining updated price quotations and steel samples from his current suppliers, Richard faced a dilemma. Until now, he had selected his suppliers based on quality and price, but the major consideration had been the type of steel required and the specialized production processes of his respective suppliers. Not all of Alpha’s suppliers could produce the exact grades of steel needed; some suppliers were better at producing certain types of steel than others.

Richard contacted several employees at Alpha who had worked with the various types of steel in the past. The quality control manager and line inspector, for example, could help to determine which suppliers had the capabilities of producing specific types of steel. The production control manager could provide input regarding which types of steel worked best in which presses. The warehouse foreman gave inputs regarding how long various types of steel could be held in inventory before rust spots began to form on their surfaces. Each person contributed the necessary information to help Richard in making his decision.

In this scenario, which of the following had the greatest influence on the business buying behavior at Alpha Stampings?

A) individual preferences B) organizational structure C) interpersonal influences D) technological changes E) cultures and customs

14) ________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.

A) Mass customization B) Market targeting C) Market segmentation D) Differentiation E) Positioning

15) A company selling child-care products ran a television ad depicting women as being primarily responsible for childcare. Many women viewers considered this regressive, alleging that the ad failed to recognize the much more diversified role of women in today’s world. This is an example of ________.

A) cause marketing B) stereotyping C) niche marketing D) scapegoating E) positioning

16) Consumers who show their allegiance to brands, stores, or companies help marketers to segment consumers by their ________.

A) user status B) degree of loyalty C) income D) geographic location E) benefit-seeking attitudes

17) Orion Inc. markets luxury watches. It targets the wealthy global elite segment, regardless of their geographic location. Orion most likely uses ________ segmentation.

A) income B) age-group C) occasion D) benefit E) cross-market

18) Ruben Delgado was making wooden pens and pencils, which had unique engravings, as a hobby until Simon Yoder recognized Ruben’s talent. Simon immediately ordered 250 pens and pencils of various styles to be displayed in his shop’s showcase. Within three months, the wooden pencils were a hit with all students! Ruben Delgado had never thought of marketing his talent, but Simon’s enthusiasm and the recent sales were enough to change his mind.

With limited resources, Ruben contacted three additional specialty shops within 100 miles that were situated near schools. He explained his manufacturing processes and engraving options to each. All three shop owners placed a trial order. Within two months, just prior to the holiday season, each shop owner placed an additional order. Ruben was ecstatic! “I figured business would slow down after that,” Ruben stated, “but in February I was contacted by Elmore Distributors. At that point, I had to make a huge decision about how far I wanted to go with this business.”

Elmore Distributors provides products for school fundraisers in a seven-state area. Ruben was offered a two-year contract and immediate inclusion in Elmore’s promotional flyer. Ruben Delgado accepted the offer and, along with it, the responsibility to produce thousands of wooden pens and pencils. “I had to get a grip on the magnitude of this project,” Ruben added. He decided to place his major focus on the large contract with Elmore. However, to avoid placing his total emphasis with one customer, Ruben continued nurturing his four previously established accounts without targeting any additional customers.

“At this point, I had set up an assembly line in a rented building,” Ruben explained. “I had to hire three full-time employees to work the line while I managed the customer orders and purchased materials.” Ruben paused, “But I can’t take the Elmore project for granted. It might not always be there. I’ll have to have a good alternate plan if that day comes.”

In the scenario, Ruben has segmented his market based on ________.

A) geography B) benefits sought C) occasion D) degree of loyalty E) demographics

19) Which of the following is a disadvantage of using a differentiated marketing strategy?

A) generates far lower sales compared to an undifferentiated marketing strategy B) customer loyalty is negatively impacted and difficult to obtain C) the costs of doing business increase D) quality control problems increase E) product safety decreases

20) ________ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.

A) Liabilities B) Services C) Brands D) Consumer products E) Specialty products

21) A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania from locally grown wood, is an example of a ________.

A) convenience product B) capital item C) specialty product D) service E) product attribute

22) A company that uses well-known celebrities to help sell its products is using ________ marketing.

A) interactive B) internal C) social D) person E) organization

23) Ruben Delgado built his enterprise on the faithful patronage of four specialty shops and a large contract from Elmore Distributors. But after two years, the maker of novelty pens and pencils had to rethink his strategy when his contract with Elmore ended.

Ruben built a company reputation on the manufacturing and distribution of a variety of wooden writing utensils with customized engravings. Specialty shops loved to display the products in their fancy, lighted showcases, but such specialty shops alone were not profitable. Ruben Delgado established a brand name, known merely as Delgado, and decided to expand on it.

Ruben extended his writing utensil lines to include quills, felt-tip pens, and multiple cartridge pens that write in different colors. He even added a line of various grades of personalized stationery and business cards. Perhaps Ruben’s biggest added touch, however, was the addition of two salespeople who would work to explain the diverse array of products offered by Delgado, as well as nurture existing accounts.

“We make an excellent product,” Ruben Delgado stated, “and we honor a good guarantee on everything we sell. But let’s face it—we face hundreds of competitors! We need Delgado representatives out there to help prospects understand what they should demand in something as simple as a writing tool.” The Delgado brand was fast-becoming synonymous with top notch customer service. Part of the purchase package brought personal visits from the Delgado representative, before the purchase and long after. Which type of product does Delgado manufacture?

A) industrial B) convenience C) specialty D) shopping E) unsought

24) What are the two dimensions of product quality?

A) consistency and level B) performance and conformance C) design and innovation D) conformance and style E) feature and design

25) Titan Inc., an automobile manufacturer based in Utah, recently added two new models to its existing line of sedans in order to increase profits and satisfy dealers. This is an example of ________.

A) line filling B) social marketing C) market diversification D) negative brand equity

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