MKTG 3340 questions with verified solution 2023/2024

MKTG 3340 the relatively homogenous groups of prospective buyers that have common needs and will respond similarly to a marketing action. - correct answer Market segments refer to problem recognition - correct answer Kelsey goes shopping with a friend and notices her friend's trendy sandals. She thinks of her own sandals and the strap that recently broke and realizes she needs a new pair. In which stage of the consumer purchase decision process was Kelsey when she had this realization? consideration set. - correct answer The group of brands a consumer would consider acceptable from among all the brands in the product class of which he or she is aware is referred to as the Market segmentation - correct answer _______ links market needs to an organization's marketing program. product differentiation. - correct answer A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products is referred to as physiological, safety, social, personal, and self-actualization - correct answer Which list below presents the Maslow hierarchy of needs in its correct order, beginning with the lowest level need and moving up to the highest level need? respond similarly to a marketing action. - correct answer Market segmentation involves aggregating prospective buyers into groups that have common needs and will the mental and social processes that come before and after these actions. - correct answer Consumer behavior includes the actions a person takes in purchasing services and using products and services, including primary and secondary. - correct answer The two main types of data are observational - correct answer Fisher-Price watches young children play with its toys to determine if and how various products should be changed or improved. Fisher Price is collecting ________ data. primary data - correct answer Considering the two main types of data, if facts and figures are newly collected for a project, which type of data is being collected? a marketer's product, service, or brand contacts with a consumer from start-to-finish in the purchase decision process. - correct answer Consumer touchpoints are Data - correct answer Raw facts Information - correct answer Organized facts Action - correct answer Insights changing the perceived importance of attributes. - correct answer Marketers use three approaches to try to change consumer attitudes toward products and brands. One of these is brand loyalty. - correct answer A favorable attitude toward and consistent purchase of a single brand over time is referred to as secondary data - correct answer Children's accessory and toy store Red Carpet Baby! uses U.S. Census Bureau information to determine the number of families with children under age 5 for each state in its market area. Data obtained from this source are called product positioning - correct answer The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as self-actualization needs - correct answer The long-running U.S. Army recruiting advertisement that invited enlistees to "Be All You Can Be" appeals to which level of Maslow's hierarchy of needs?