Marketing 201 Midterm

_________ generation is now leaving the "nest." This generation was born between 1981 and 1996. - Gen Y/Millennials A marketing insight is a deep understanding of consumer attitudes and beliefs that has power to shape consumer behavior. Marketing insights have limitations because: - People are not all the same and people make decisions based on the situation. After filming Downton Abbey, Maggie Smith stopped into Waitrose grocery store to purchase marmalade, table water crackers, eggs, and bread. Where on the Problem Solving Continuum is Maggie's information search? - Routine Problem Solving Although economists view markets as structures that allow buyers and sellers to engage in exchange, marketers focus on: - People of the exchange--buyers and sellers Analysis of variance - Variability around an average Averages that differ beyond expected variability Analytics is the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive managerial decisions and actions. For marketer, these decisions center on: - Customers Andy tells his parents everyday that he wants a Mr. Potato Head for his birthday. His parents buy Mr. Potato Head. In this situation, Andy is the ___________. - Influencer Big data generally are divided into two types—structured and unstructured. Which of the following is Not an example of unstructured data? - Yes/No questions Buyers - purchaser Buying Centers - Influencers, Deciders, Buyers, Users, Gatekeepers Campbell Soup Company, a U.S. based business, entered the Asia market by combining efforts with Swire Pacific. Each company owns shares in the new business called Campbell Swire. This is an example of which global market entry strategy? - Joint Venture Cathy decided she needs a vacation. She is researching several options: Honolulu, Paris, Rio de Janeiro, Tokyo, and Cairo. Where is Cathy on the Consumer Behavior Process? - Information Search China is expected to become the largest food and beverage market globally within the next five years. Cereal consumption is currently being driven by rapid growth in milk consumption, along with consumers' desire for healthy and convenient breakfast foods. Kellogg Company and Wilmar International Limited announced a ________ . Both