Question 1

Which of the following is an example of internal stakeholders?&#10;A) employees&#10;B) consumers&#10;C) suppliers&#10;D) investors&#10;E) none of the above.

Accepted Answer

Internal stakeholders refer to individuals or groups within an organization. Employees are a perfect example of internal stakeholders. Consumers (B), suppliers (C), and investors (D) are examples of external stakeholders.

Question 2

Describing the distribution of a population with respect to characteristics such as age, sex, income, education and occupation is known as:&#10;A) Demographics&#10;B) Psychographics&#10;C) Dispersion&#10;D) Economics&#10;E) None of the above.

Accepted Answer

Describing the distribution of a population with respect to characteristics such as age, sex, income, education and occupation is known as demographics.

Question 3

Oral B developed a new indicator toothbrush that reminds consumers when they need to replace their old worn brushes. This strategy is focused at which stage of the consumer decision-making process?&#10;A) Problem recognition&#10;B) Internal search&#10;C) External search&#10;D) Alternative evaluation&#10;E) Purchase

Accepted Answer

This new indicator toothbrush is designed to remind customers to replace their old brushes, which can be seen as a way to recognize a problem or need to purchase new toothbrushes.

Question 4

Last week Beth paid $159.00 for a pair of binoculars at an exclusive high-tech store and believed she had gotten a bargain. This week she found the identical binoculars at SportsMart, a discount store, for $119.00. She is likely to experience:

A) selective perception
B) cognitive dissonance
C) perceptual dissonance
D) negative motivation
E) attitudinal dissatisfaction

Accepted Answer

Beth is likely to experience cognitive dissonance, which is the discomfort or mental stress experienced by an individual who holds two or more contradictory beliefs, ideas, or values. In this case, Beth believed that she had gotten a bargain when she paid $159.00 for the binoculars, but she now realizes that she could have purchased them for $119.00 at a discount store. This discrepancy between her beliefs and her actions is likely to create an uncomfortable mental state known as cognitive dissonance.

Question 5

Traditionally marketers have tried to break down total markets into relevant groups for their marketing efforts, but the recent trend for strategic communicators is to start with individual customers and try to group them into like-behaving units. The traditional process is known as __________ and the new process is known as ________________.

A) aggregation, positioning
B) segmentation, aggregation
C) aggregation, segmentation
D) positioning, segmentation
E) database marketing, target marketing

Accepted Answer

The traditional process of breaking down markets into relevant groups is known as segmentation, where marketers divide the market into distinct groups of consumers with similar needs or characteristics. The recent trend of starting with individual customers and grouping them into like-behaving units is referred to as aggregation, which is the opposite of segmentation.

Question 6

Every morning at about 10:30, Ted has a snack. From all the possible foods he could snack on, Ted always chooses from either a chocolate-covered glazed doughnut, a cheese Danish, or a bagel with fruit-flavored cream cheese. He only considers these three options when choosing his mid-morning snack. For Ted, the doughnut, the Danish, and the bagel are a/an:

A) evaluated set
B) evoked set
C) standardized set
D) selected criteria
E) brand set

Accepted Answer

The options Ted chooses from (chocolate-covered glazed doughnut, cheese Danish, bagel with fruit-flavored cream cheese) are his evoked set, meaning they are the options he considers and is familiar with when making a decision about his snack.

Question 7

Breaking potential customers into groups based on the fact that they have similar needs or behaviors that are likely to cause them to respond similarly to marketing actions is:&#10;A) cooperative advertising&#10;B) benefit clustering&#10;C) undifferentiated marketing&#10;D) segmentation&#10;E) positioning

Accepted Answer

The process of breaking potential customers into groups based on similar needs or behaviors is known as segmentation. This allows marketers to tailor their marketing efforts to specific groups of customers, rather than using a one-size-fits-all approach. Cooperative advertising refers to the sharing of advertising costs between two or more parties, benefit clustering is not a commonly used term in marketing, undifferentiated marketing is the opposite of segmentation and involves marketing to everyone in a general market, and positioning is the process of shaping how customers perceive a brand or product in relation to competitors.

Question 8

Locating billboards for cigarettes and alcohol in predominately African-American inner city neighborhoods might be an example of which segmentation strategy?&#10;A) adopter segmentation&#10;B) life stage segmentation&#10;C) relationship segmentation&#10;D) ethnic segmentation&#10;E) none of the above

Accepted Answer

Ethnic segmentation targets specific ethnic or racial groups based on their unique preferences and characteristics. In this case, the billboards are being placed in African-American neighborhoods, which demonstrates ethnic segmentation.

Deck 8: Stakeholders