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Connect Quiz Answer Review, Chapters 4-9, 11-12, 17 .docx

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MKT 100
Mary Foster

Ch.4: Marketing Research  The first step in the marketing research project is to define the problem and objectives.  Research is expensive and time consuming.  Data collection is the second step in the marketing research process? False (it is the 3 step. The 2 step is Designing the Research Project)  Pieces of information already collected and are usually readily available are secondary data.  Statistics Canada is a good example of a source of secondary data.  Secondary data are pieces of information that have been collected prior to the start of the focal research project.  A marketing research project often begins with a review of the relevant secondary data. True  Data available from commercial research firms are syndicated data.  Bureau of Broadcasting Measurement is a good example of a source of syndicated data.  Exploratory research gives you a chance to gather initial information when your problem lacks definition.  A segment or subset of the population that you will research is called a target group. False (it is called a sample)  In-depth interviews are an exploratory research technique.  An observational technique that studies people in their everyday lives is called ethnography.  Data are just the raw numbers or information.  The final stage in the marketing research process is presenting the results. True  The text gives several examples of why it is important to adhere to ethical practices when conducting research.  Numerous codes of conduct written by various marketing research associations all reinforce the duty of the researcher to respect the rights of the subjects in the course of their research.  More and more, consumers want to know they have control over data collected about them, the text tell us.  Data can be very sensitive, so researchers must be careful how they use it. True Ch.5: Consumer Behavior  The first stage of the consumer decision-making process is need recognition.  The second stage of the consumer decision-making process is information search.  The third stage of the consumer decision-making process is alternative evaluation.  Functional needs relate to the cost of a product or service. False (functional needs pertain to the performance of a product or service)  Harley Davidson encourages the idea that its riders are rugged individualists.  What consists of a set of salient, or important, attributes about a particular product. Evaluative criteri*  Soda and bread are generally considered convenience goods.  Negative word of mouth occurs when consumers spread negative information about a product, service or store to others. True  Other than the 4Ps, how many factors do you think affect the consumer decision process? 4 * (4Ps, Psychological; motives, attitudes, perceptions, learning, lifestyle Social; family, reference groups, culture, Situational; purchase situations, shopping situation, temporal state factors)  Needs relation to the basic biological necessities of life like food and drink are called physiological needs.  Needs relating to one’s interactions with other are called social needs.  The process by which people select, organize and interpret to form a meaningful picture is called perception. True  When a consumer sees few perceived differences between alternative brands they are not very involved in, the buying process they are said to undertake habitual buying behavior. *  Some purchases require little or no cash,involvement, and effo*t.  The text describes two types of buying process/decisions. (high involvement/low involvement)  A common type of limited problem solving is impulse buying, a buying decision made my customers on the spot when they see the merchandise. True Ch.6: Business-to-Business Marketing  B2C stands for business to consumer.  B2B stands for business to business.  Which is NOT a type of B2B organization? end user (B2B organizations include government, institutions, manufacturers and producers.)  Some B2B buyers are manufacturers and producers. true  Describe derived demand. It is the linkage between consumers' demand for a company's output and its purchase of necessary inputs to manufacture or assemble that particular output.  A major difference between the typical B2B and B2C transaction is the role of the salesperson.  The distinction between B2C and B2B is NOT the product/services.(these can be the same for both types of transaction.)  In B2B markets, the products ordered are primarily raw materials and semi finished goods that are processed or assembled into finished goods for the ultimate consumers. true  NAICS stands for "North American Industry Classification System." that have 6 digits.  NAICS replaces SIC (standard industrial classification).  The 3rd stage in the B2B buying process is RFP process. (there are 6 B2B stages in total)  RFP stands for request for proposals and is a common process through which buying organizations invite alternative suppliers to bid on supplying their required components.  Vendor analysis is carried out in the B2B setting in a more formal and objective way than B2C. (it is a buyer's responsibility to be able to show why they made their decision)  In Proposal Analysis and Supplier Selection, the buying organization, in conjunction with its critical decision makers, evaluates all the proposals it receives in response to its RFP. true  The group of people typically responsible for buying decisions in a large organization is called the buying centre.  The person who controls information or access to decision makers and influencers is called the gatekeeper.  The person who first suggested buying the particular product or service is called the initiator.  A buying centre where all the members of the team have to reach a collective agreement that they can support a particular purchase is called a democratic buying center. false (it is called a consensus buying center)  More and more firms have begun to use the internet to help facilitate their B2B buying and selling.  When goods and services are simply sold to the highest bidder, it's called an English auction.  A good way to lower your procurement costs is to use reverse auctions.  A private exchange is when a buyer/seller invites others to join them to participate in online information exchanges and transactions. Ch.7: PT Segmentation, Targeting and Positioning  If a firm wanted to launch a new brand of bodywash into Canada and it identified a group of bodywash users that would respond similarly to the firm's marketing efforts, it would be called a segment.  When deciding on a segmentation strategy, what should a company do first? They should clearly articulate the firm mission and objectives.  When consumers understand why a particular deodorant meets their needs better than any of the competitors, the manufacturer of that deodorant can be said to have carried the positioning of the product effectively.  If a company sells different products that are aimed at men or women, it must consider the different appeal of television programs when planning its TV advertising. By doing this, it is employing demographic segmentation.  If an organization shows attractive young people wearing their footwear products, they are appealing to people's self-concept.  If a breakfast cereal manufacturer introduced a cereal that always had a /"money off next purchase/" coupon printed on the box, they would be using loyalty segmentation.  If a clothing retailer discovered there were more segments of people wanting to buy their clothing, they could be said to be employing this dimension of evaluating segment attractiveness. Identifiable  Even when a marketer has identified an attractive segment, they still need to make sure it will be profitable.  A great advantage of internet based segmentation is that it can allow access to very small segments efficiently and inexpensively.  For a segmentation strategy to be successful, the customers in the segment must react similarly. true  A firm that sells customized shoes, especially designed to suit the unique characteristics associated with each person's foot is using a micromarketing strategy.  The fact that some consumers prefer bodywash with deodorant, others with a body lotion incorporated, others with a hint of aromathereapy oils, results in body lotion manufacturers engaging in STP.  Different products for different groups of people - it's a strategy that can work, but also cost a lot of money to come up with a marketing plan for each segment.  If you invented an aftershave balm for men with sensitive skin, who were interested in using only natural products on their faces and were interested in innovative packaging, you'd be using a concentrated segmentation strategy. true (a concentrated segment strategy is when an organization selects a single, primary target market and focuses all its energies on providing a product to fit that market's needs.  Head-to-head positioning between competitors can lead to price wars.  Repositioning can be tough! Good marketers constantly re-evaluate their brands to decide if it is necessary.  One of the biggest problems of rebranding is costs.  A perceptual map displays, in two or more dimensions, the position of products or brands in the consumer's mind. true Ch.8: Developing New Products  The process by which ideas are transformed into new products and services that will help a firm grow is called innovation.  The portfolio of products that innovation can create helps the firm to diversify its risk.  New product introductions that establish a completely new market are called pioneers.  As many as 95% of all consumer goods fail. true  The process by which the use of an innovation spreads through the marketplace is the diffusion of innovation.  Those buyers who want to be the first to have a new product or service are called innovators.  Those who like to avoid change and prefer to depend upon traditional products until they are no longer available are called laggards.  Using the Consumer Adoption Cycle means that firms can predict which types of customers will buy their products. true (The reason this cycle is so useful is that it helps to be able to predict product uptake.)  The first step in the product development process is
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