midterm-questions-and-answers

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Concordia University *

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Course

201

Subject

Marketing

Date

Feb 20, 2024

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docx

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21

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Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) Midterm, questions and answers Introduction to Marketing (Concordia University) Scan to open on Studocu Studocu is not sponsored or endorsed by any college or university
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) M i d t e r m P r ac ti ce Q u e s ti on s A n s w e r K e y T h ec o rr ec t r e s pon s e s a r e h i gh li gh t e d i nb o l d . C HA P TE R 1 1. B e r t r a m ' s B ee r s t r u c t u r e s it s c o m p a ny i n s u c h a w a y a s t o e n c ou r a g e it s m o s t p r o fi t a b l e o l d e r c u s t o m e r s t o r e m a i n l oy a l w h il ea l s o t a r g e ti n g a n e w g e n e r a ti ono f c u s t o m e r s . W h a ti s B e r t r a m ' s B ee r a tt e m p ti ng t obu il d ? A . P a r t n e rr e l a ti on s h i p s B . C u s t o m e r e qu it y C . C u s t o m e r li f e ti m e v a l u e D . C u s t o m e r l oy a lt y E . S h a r e o f c u s t o m e r 2. W h i c ho f t h e f o ll o w i ng i s NO T on e o f t h e f ou r P s o f t h e m a r k e ti ng m i x ? A . P r o m o ti on B . P l ace C . P r od u c t D . P r odu c ti on E . P r i ce 3. T h e m a r k e ti ng c on ce p t ho l d s t h a t s u cce ss f u l m a r k e ti ng s t r a t e g i e s a r e b a s e don . A . P r odu c t s t h a t a r ea ff o r d a b l ea nd a v a il a b l e B . C u s t o m e r s a ti s f ac ti on a ndv a l u e C.Large- s ca l e s e lli ng e ff o r t s D . S u s t a i n a b l e m a r k e ti ng s t r a t e g i e s E . C on ti nu a ll y i m p r ov i ngp r od u c t s i nqu a lit y a ndp e rf o r m a n ce
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) 4. A s h e r A i r li n e s i n s tit u t e d a m a r k e ti ngp r og r a m w ho s e i n t e n ti s t o c r ea t ea r e l a ti on s h i p w it h c u s t o m e r s w it h s ea t upg r a d e s a nd fr ee m il e s f o r t h e i r c on ti nu e dp a t r on a g e . W h a t c u s t o m e r r e l a ti on s h i p t oo li s A s h e r A i r li n e s u s i ng ? A . F r e qu e n c y m a r k e ti ngp r og r a m B . C u s t o m e r- p e r ce i v e dv a l u e C . C on s u m e r- g e n e r a t e d m a r k e ti ng D . D i r ec t m a r k e ti ng E . M a ss - m e d i a m a r k e ti ng 5. H o w do e s t h e n e w c on ce p t o f m a r k e ti ngd i ff e rf r o m t h e o l d c on ce p t o f m a r k e ti ng ( " t e lli ng a nd s e lli ng " ) ? A. T h e n e w c on ce p t f o c u s e s onh a v i ng a w e ll - d e v e l op e dp r odu c t . B . T h e n e w c on ce p ti s m o r ec o s t e ffi c i e n t . C. T h e n e w c on ce p t f o c u s e s on c u s t o m e r n ee d s .
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Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) D. T h e n e w c on ce p t f o c u s e s on m a k i ng m on e y . E . T h e n e w c on ce p t r e qu i r e s l e ss w o r k fr o mm a r k e ti ng e x ec u ti v e s . 6. W h a t a r e t h e t w ok e y s t obu il d i ng l a s ti ng c u s t o m e rr e l a ti on s h i p s ? A . C u s t o m e r s e r v i cea ndqu a li t yp r odu c t s B . V a l u ea nd c u s t o m e r s e r v i ce C . I nnov a ti v e p r odu c t s a nd l o w p r i ce s D . S a ti s f ac ti on a nd s a l e s p r o m o ti on s E . S up e r i o r c u s t o m e r v a l u ea nd s a ti s f ac ti on 7. W h i c ho f t h e f o ll o w i ng r e p r e s e n t m a r k e t o ff e r i n g s ? A . P r odu c t s , s e r v i ce s , n ee d s , a nd e x c h a ng e s B . V a l u e , s a ti s f ac ti on , s a l e s , a ndp r o fi t s C . P r odu c t s , s e r v i ce s , i n f o r m a ti on , a nd e xp e r i e n ce s D . P r odu c t s , s e r v i ce s , n ee d s , a nd w a n t s E . N ee d s , w a n t s , p r odu c t s , a n d a dv e r ti s e m e n t s 8. c o m p a n i e s r e s ea r c h c u s t o m e r s d ee p l y t o l ea r n a bou tt h e i r d e s i r e s , g a t h e r n e w p r odu c ti d ea s , a nd t e s t p r odu c ti m p r ov e m e n t s . A . C u s t o m e r- c on s c i ou s B . P r odu c t d e v e l op m e n t - d r i v e n C.Product- d r i v e n D . M a r k e t r e s ea r c h - o r i e n t e d E . C u s t o m e r- d r i v e n C HA P TE R 2 9. A m a r k e ti ngd a s hbo a r d i s u s e d t odo w h i c ho f t h e f
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) o ll o w i ng ? A . A n a l y ze t h e n e w p r odu c tli n e s b e i ngd e v e l op e d B . P r o m o t ea p r odu c tt o a t a r g e t g r oup C . D e t e r m i n e t h e fi n a n c i a l c o s t o f d e v e l op i ng a p r odu c t D . D e v e l op ac ou r s e o f ac ti on t o m a r k e t a p r odu c t E . M on it o r s t r a t e g i c m a r k e ti n gp e rf o r m a n ce 10. W h i c ho f t h e f o ll o w i ng i s a v a li d c on ce r n w h e n it c o m e s t o t h e f ou r P s c on ce p t ? A. I t m a yo m it o r und e r e m ph a s i zece r t a i n i m po r t a n t ac ti v iti e s . B. Itisnothelpfulfornot- for- p r o fi t c o m p a n i e s . C . I t do e s no ti n c l ud e s e r v i ce s . D . I t u s e s t h e buy e r ' s v i e w o f t h e m a r k e t s . E . I t do e s no ti n c l ud ec o m p r e h e n s i v ee l e m e n t s fr o mm a r k e t s t r a t e gy . 11. W h i c ho f t h e f o ll o w i ng i s a tt h ece n t r e o f m a r k e ti ng s t r a t e gy a ndp r og r a m s ?
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) A . P r odu c t a nd s upp l y c h a i n m a n a g e m e n t B . V a l u ec h a i n s o f bo t h c u s t o m e r s a nd s upp li e r s C . C u s t o m e r e ng a g e m e n t , v a l u e , a nd r e l a ti on s h i p s D . C u s t o m e rr e l a ti on s h i p e ng a g e m e n t a ndv a l u ec h a i n s E . C u s t o m e r a nd s upp li e rr e l a t i on s h i p m a n a g e m e n t 12. W hy i s m a r k e ti ng r e t u r non i nv e s t m e n t ( R O I) s o d i ffi c u ltt o m ea s u r e? A . T h e r e i s no c on s i s t e n t d e fi n iti on . B . M a r k e t e r s dono t k ee p a d e qu a t e r ec o r d s . C . C u s t o m e r- ce n t e r e d m ea s u r e s a r e i n c onv e n i e n t . D . T h e m a r k e t ec ono m i c s c on s t a n tl y c h a ng e . E . M a r k e ti ngd a s hbo a r d s a r e i n c on s i s t e n t . 13 . W h a ti s m a r k e ti n g c on t r o l a bou t ? A . D e t e r m i n i ng a nd a ll o ca ti ng t h e budg e t s f o r d i ff e r e n t m a r k e ti ng s t r a t e g i e s B . S e tti ng s p ec i fi c m a r k e ti nggo a l s , m ea s u r i ngp e rf o r m a n ce i n t h e m a r k e t p l ace , e v a l u a ti ng t h e ca u s e s o f a nyd i ff e r e n ce s b e t w ee n e xp ec t e d a nd ac t u a l p e rf o r m a n cea nd t a k i ng c o rr ec ti v e ac ti on s , i f n ece ss a r y C . T u r n i ng m a r k e ti ngp l a n s i n t o m a r k e ti ng ac t i on D . C hoo s i ng m a r k e ti ng s t r a t e g i e s t h a t w ill h e l p t h ec o m p a ny a tt a i n it s ov e r a ll s t r a t e g i c ob j e c ti v e s E . M a t c h i ng t h ec o m p a ny ss t r e ng t h s t o a tt r ac ti v e oppo r t un iti e s i n t h ee nv i r on m e n t w h il e s i m u lt a n e ou s l y e li m i n a ti ngo r ov e r c o m i ng t h e w ea kn e ss e s a nd m i n i m i z i ng t h e t h r ea t s . C HA P TE R 3
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Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) 14. F i r m s t h a t d e v e l op s t r a t e g i e s t o c h a ng e t h ee nv i r on m e n t , i n s t ea do f a ss u m i ng t h a t s t r a t e g i c op ti on s a r e bound e dby t h ec u rr e n t e nv i r on m e n t , a r e b e i ng . A . p a ss i v e B.short - s i gh t e d C . p r o a c ti v e D . ca u t i ou s E . r eac t i v e 15. C hoo s e t h e b e s t r e s pon s e t o t h e f o ll o w i ng s t a t e m e n t: " C o m p a n i e s w ho s p e nd ti m ea nd r e s ou r ce s t r y i ng t o i m p r ov ee nv i r on m e n t a l s u s t a i n a b ilit y ca nno t po ss i b l yb e s u cce ss f u l . " A. I ti s on l y w o r t h w h il e t o i nv e s tt h e m i n i m u m a m oun t n ee d e d t o m ee t gov e r n m e n t a l s t a nd a r d s . B . T h ec o s t o f e nv i r on m e n t a l s u s t a i n a b ilit y i s j u s tt ooh i gh t ob e w o r t h w h il e t o ac o m p a nyo f a ny s i ze . C. W h il ee nv i r on m e n t a l s u s t a i n a b ilit y i s no t c u rr e n tl y a w o r t h w h il e i nv e s t m e n t , it w ill b ec o m ea n i m po r t a n ti nv e s t m e n ti n t h e f u t u r e . D. T h e r ea r e v e r y f e w m on e t a r y c o s t s a ss o c i a t e d w it h e nv i r on m e n t a l s u s t a i n a b ilit y , s o it do e s n o t r e qu i r e m u c h e ff o r tt o ac h i e v e . E. T h e r ea r e m a ny s u cce ss f u l c o m p a n i e s t h a t a r e i nv e s ti ng i n s u s t a i n a b ilit y , a nd e ff o r t s t o w a r d ss u s t a i n a b ilit y ca n e ff ec ti v e l yb ec o m e p a r t o f a b r a nd ' s m a r k e ti ng .
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) 16. W h a t a dv i ce w ou l dyoug i v ea fi r m a bou t ho w t o r e s pond t o t h ec h a ng i ng m a r k e ti ng e nv i r on m e n t ? A . A cce p tt h e f ac tt h a tt h i ng s c h a ng ea ndno t m u c h ca nb e don ea bou tit . B . W h e n e v e r po ss i b l e , t a k ea p r o ac ti v ea pp r o ac h t o t h ee nv i r on m e n t . C . W a t c h e nv i r on m e n t a l c h a ng e s bu t r eac t on l y w h e n a b s o l u t e l yn ece ss a r y . D . If t h ec u rr e n t s t r a t e gy i s w o r k i ng , t h e r e i s non ee d t o r e s pond t o e nv i r on m e n t a l c h a ng e s . E . D ono t do a ny t h i ngun til c o m p e tit o r s r e s pond . 17. W h i c hg e n e r a ti on a l g r oup s ea m l e ss l yb l e nd s on li n ea ndo ffl i n e w o r l d s a s t h e y s o c i a li ze a nd s hop ? A . G e n e r a ti on Z B . T h e G r ea t e s t G e n e r a ti on C . G e n e r a ti on Y D . G e n e r a ti on X E . B a byboo m e r s 18. T h e r o l e o f ac o m p a ny ' s m a r k e ti ng i n t e r m e d i a r i e s i s t odo w h i c ho f t h e f o ll o w i ng ? A . M a n a g e t h ec o m p a ny ' s hu m a n r e s ou r ce s e ff o r t s B . P u r c h a s e t h ec o m p a ny ' s p r odu c t C . D e t e r m i n e w h i c hp r odu c t s ac o m p a n y s hou l d m a r k e t D . P r ov i d e t h e r e s ou r ce s n ee d e dby t h e c o m p a ny t op r odu ce good s a nd s e r v i ce s E . H e l p t h ec o m p a ny fi nd , p r o m o t e , s e ll , a ndd i s t r i bu t e p r odu c t s 19. W h i c ho f t h e f o ll o w i ng i s a n i m po r t a n tt r e nd i n t h e n a t u r a l e nv i r on m e n t o f w h i c h m a r k e t e r s s hou l db ea w a r e? A . D ec r ea s i ng c o s t s o f non r e n e w a b l e r e s ou r ce s B . S ho r t a g e s o fr a w m a t e r i a l s C . D ec r ea s e dgov e r n m e n ti n t e r v e n ti on
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) D . A d ec r ea s e i n c on s u m e r c on ce r n t o w a r d t h ee nv i r on m e n t E . D ec r ea s e dpo ll u ti on 20. T o e x e r c i s e s o c i a l r e s pon s i b ilit y , m a ny c o m p a n i e s a r e li nk i ng t h e m s e l v e s t o w h a tt yp e o f m a r k e ti ng ? A . T ec hn o l og i ca l B . I n t e r m e d i a r i e s C.Cause- r e l a t e d D . G e n e r a ti on a l E . E nv i r on m e n t a l 21. W h i c ho f t h e f o ll o w i ng e nv i r on m e n t s f o c u s e s o n f ac t o r ss u c h a s a v a r y i ng a g e s t r u c t u r e , a c h a ng e i n f a m il yp r o fi l e s , s h i f t s i ng e og r a ph i c popu l a ti on , a b e tt e r- e du ca t e d a nd i n c r ea s i ng l y w h it e - c o ll a r popu l a ti on , a nd a h i gh e r l e v e l o f d i v e r s it y ?
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Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) A . T h e d e m og r a ph i ce nv i r on m e n t B . T h e t ec hno l og i ca l e nv i r on m e n t C . T h eec ono m i ce nv i r on m e n t D . T h e po liti ca l e nv i r on m e n t E . T h ec u lt u r a l e nv i r on m e n t C HA P TE R 4 22. H ug ea nd c o m p l e xd a t a s e t s g e n e r a t e dby t o d a y ' ss oph i s ti ca t e d i n f o r m a ti ong e n e r a ti on , c o ll ec ti on , s t o r a g e , a nd a n a l y s i s t ec hno l og i e s a r e r e f e rr e d t o a s . A . c u s t o m e r i n s i gh t s B . a m a r k e ti ng i n f o r m a ti on s y s t e m C . b i gd a t a D . m a r k e ti ng r e s ea r c h E . c o m p e titi v e m a r k e ti ng i n t e lli g e n ce 23. C a l v i n ' s C up ca k e s i s a tt e m p ti ng t og a t h e r i n f o r m a ti on a bou tit s c u s t o m e r s i no r d e r t o i m p r ov e it s c u s t o m e r s e r v i ce . W h i c ho f t h e f o ll o w i ng i s t h e B E S T p a t h f o r t h i s c o m p a ny t o s t a r tt od e v e l op a n e ffi c i e n t M I S ? A . D i s t r i bu t e n ece ss a r y i n f o r m a ti on t o t h e m a r k e ti ng t ea m B . A ss e ss t h e i n f o r m a ti onn ee d s o f t h ec o m p a ny C . A n a l y ze t h e i n f o r m a ti ong a t h e r e d i n m a r k e t r e s ea r c h D . C ondu c t s u r v e y s o rf o c u s g r oup s t o g a t h e r i n f o r m a ti on E . D e t e r m i n e ho w t ou s e t h e i n f o r m a ti ong a t h e r e dby m a r k e t r e s ea r c h 24. S o f t w a r ea nd a n a l y ti ca lt ec hn i qu e s t h a ti n t e g r a t e , a n a l y ze , a nd a pp l y t h e m oun t a i n s o f i nd i v i du a l c u s t o m e r d a t a t og a i n a 360 - d e g r ee v i e w o f c u s t o m e r s e n a b l ec o m p a n i e s
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) t o . A . p r ac ti cec u s t o m e rr e l a ti on s h i p m a n a g e m e n t B . p e rf o r mm a r k e t r e s ea r c h C . fi ndn e w c u s t o m e r s D . g e tt okno w t h e i r c u s t o m e r s p e r s on a ll y E . d e v e l op l a r g ec u s t o m e r d a t a s e t s 25. W h i c ho f t h e f o ll o w i ng i s t h e p r i m a r y r ea s on fi r m s u s ec o m p e titi v e m a r k e ti ng i n t e lli g e n ce? A . T o m a k eea r l yd ec i s i on s r e g a r d i ngp r i c i ng s t r a t e g i e s o f c o m p e tit o r s B . T o a ss e ss a nd r e s pond t o ac o m p e tit o r ' ss o c i a l m e d i a s t r a t e g i e s C . T og a i n ea r l y i n s i gh t s i n t o c o m p e tit o r m ov e s a nd s t r a t e g i e s , a nd t op r e p a r e qu i c k r e s pon s e s D . T og a i n a nund e r s t a nd i ngo f ac o m p e tit o r ' s c h a nn e l s o f d i s t r i bu ti on E . T ound e r s t a nd m o r ea bou t ac o m p e tit o r ' s n e w p r o du c t d e v e l op m e n t e ff o r t s 26. A c o m p a ny ' s m a r k e ti ng i n f o r m a ti o n s y s t e m ( M I S ) i s v a l u a b l e b eca u s e it .
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) A . a ll o w s ac o m p a ny t oou t p e rf o r m it s c o m p e tit o r s i n t h e m a r k e t p l ace B . e n s u r e s t h a tt h ec o m p a ny w ill h a v e good c u s t o m e r s e r v i ce C . m a i n t a i n s t h ec o m p a ny ' s i n t e r n a l d a t a b a s e o f c u s t o m e r s D . e n a b l e s ac o m p a ny t ou s ec u s t o m e r i n s i gh t s t o i m p r ov e r e l a ti on s h i p s w it h c u s t o m e r s E . i n c r ea s e s t h e li k e li hood t h a t ac u s t o m e r w ill bu y a p r odu c t 27. T h e m o s t c o mm on m i s t a k e fi r m s m a k e i s t ov i e w CR M , m a r k e ti ng a n a l y ti c s , a nd A I as . A . t oo c o s tl y B . a w a s t e o fr e s o u r ce s C . b e yond t h e i r t e c hn i ca l e xp e r ti s e D . ou t d a t e d t ec h no l og i e s E . t ec hno l ogyp r o ce ss e s on l y 28. T h e r ea r e s e v e r a lt yp e s o f ob j ec ti v e s m a r k e t r e s ea r c h e r s m i gh t u s e i n a m a r k e ti ng r e s ea r c h p r o j ec t . W h i c ho f t h e f o ll o w i ng a r e t h e p r i m a r y t yp e s o f ob j ec ti v e s ? A . E xp l o r a t o r y r e s ea r c h , d e s c r i p ti v e r e s ea r c h , a nd ca u s a l r e s ea r c h B . E xp l o r a t o r y r e s ea r c h , d e s c r i p ti v e r e s ea r c h , a nd s u r v e y r e s ea r c h C . D e s c r i p ti v e r e s ea r c h , s u r v e y r e s ea r c h , a nd c a u s a l r e s ea r c h D . E xp l o r a t o r y r e s ea r c h , s ec ond a r y r e s ea r c h , a ndp r i m a r y r e s ea r c h E . D e m og r a ph i c r e s ea r c h , e xp l o r a t o r y r e s ea r c h , a nd a ttit ud i n a l r e s ea r c h 29. W h i c ho f t h e f o ll o w i ng i n f o r m a ti on m u s t a r e s ea r c h e r e v a l u a t e t o m a k ece r t a i n iti s r e l e v a n t , acc u r a t e , a nd i m p a r ti a l ? A . S u r v e y i n f o r m a ti on B . B i gd a t aa n a l y ti ca
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Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) li n f o r m a ti on C . F o c u s g r oup i n f o r m a ti on D . P r i m a r y i n f o r m a t i on E . S ec ond a r y i n f o r m a ti on C HA P TE R 5 30. W h i c ho f t h e f o ll o w i ng i s o f t e n c on s i d e r e d a k e ybu s i n e ss m a r k e ti ng s t r a t e gy f o r w i nn i ng a n d ho l d i ng acc oun t s ? A . m od i fi e d r e b uy B . s t r a i gh t r e b uy C . s y s t e m ss e ll i ng D . n e w t a s k E . buy i ngd ec i s i on
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) 31. P e op l eca nb ec l a ss i fi e d i n t o t h ea dop t e r ca t e g o r i e s , w it h eac h ca t e go r yh a v i ngd i ff e r e n t v a l u e s a nd r a t e s o f a dop ti on . T h ea dop t e r ca t e go r i e s i n c l ud e , , , , and . A. p i on ee r s , ea r l y m a i n s t r ea m a dop t e r s , l a t e m a i n s t r ea m a dop t e r s , a vo i d e r s , a nd l a gg i ng a dop t e r s B . i nnov a t o r s , ea r l y a dop t e r s , ea r l y m a i n s t r e a m a dop t e r s , l a t e m a i n s t r ea m a dop t e r s , a nd l a gg i ng a dop t e r s C . i nnov a t o r s , ea r l y a dop t e r s , m a i n s t r ea m a dop t e r s , m i d - s t a g ea dop t e r s , a nd l a gg i ng a dop t e r s D . i nnov a t o r s , p i on ee r s , ea r l y m a i n s t r ea m a dop t e r s , l a t e m a i n s t r ea m a dop t e r s , a nd l a gg i ng a dop t e r s E . i nnov a t o r s , ea r l y a dop t e r s , a vo i d e r s , m a i n s t r ea m a dop t e r s , a nd l a t ea dop t e r s 32. W h i c ho f t h e f o ll o w i ng i s NO T a m ong t h e m a j o rf ac t o r s i n fl u e n c i ng c on s u m e r buy i ngb e h a v i ou r ? A . S o c i a l B . C o mm e r c i a l C . C u lt u r a l D . P e r s o n a l E . P s y c h o l og i ca l 33. B uy e r s w ho f acea n e w t a s k - buy i ng s it u a ti onu s u a ll ygo t h r ough . A. t h e m a nd a t o r y s t a g e s a s w e ll a s p e rf o r m a n ce r e v i e w B . on l y t h ec r iti ca l s t a g e s ( p r odu c t s p ec i fi ca ti on , p r opo s a l s o li c it a ti on , s upp li e r s e l ec ti on , a nd p e rf o r m a n ce r e v i e w ) C . on l y t h e p r ob l e m a nd s upp li e r s e l ec ti on s t a g e s D . on l y t h e m a nd a t o r y s t a g e s o f p r odu c t s p ec i fi ca t i on , p r opo s a l s o li c it a ti on , a nd s upp li e r s e l ec t i on E . a ll o f t h ee i gh t s t a g e s , i n c l ud i ngp e rf o r m a n c e r e v i e w
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) 34. A pu r s ec o m p a ny ' s a d s f ea t u r e t h e m e m b e r s o f a p opu l a r hou s e w i v e s r ea lit y s ho w . P r odu c t s a l e s i n c r ea s e s i gn i fi ca n tl y a m ong f a n s . F r o m f a n s ' v i e w po i n t , t h e hou s e w i v e s r ea lit y s ho w i s a . A . l a t e - m a j o r it y a dop t e r B . r e f e r e n ce g r o up C . f a m il yg r oup D . m e m b e r s h i pg r oup E . l a gg i ng a dop t e r 35. W h i c ho f t h e f o ll o w i ng c o rr ec tl yd e fi n e s t h ec on s u m e r m a r k e t ? A . I nd i v i du a l s w ho s p e nd m o r e t h a n$1 , 000 a y ea r o npu r c h a s e s B . M a nu f ac t u r e r s , r e t a il e r s , a nd c on s u m e r s C . I nd i v i du a l s a ndhou s e ho l d s t h a t buygood s a nd s e r v i ce s f o r p e r s on a l c on s u m p ti on D . A nybu s i n e ss t h a t s e ll s good s a nd s e r v i ce s t oo t h e r bu s i n e ss e s E . R e t a il e r s w ho s e ll good s a nd s e r v i ce s t o c on s u m e r s
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Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) 36. d e t e r m i n e s w h e t h e r t h e buy e r i ss a ti s fi e do r d i ss a ti s fi e d w it h a pu r c h a s e . A . T h e r e l a ti on s h i pb e t w ee n t h ec on s u m e r ' s e xp e c t a ti on s a nd w h e r e t h e p r odu c t w a s pu r c h a s e d B . T h e r e l a ti on s h i pb e t w ee n t h e p r i ce o f t h e p r od u c t a nd t h e p r odu c t ' s p e r ce i v e dp e rf o r m a n ce C . T h e r e l a ti on s h i pb e t w ee n t h ec on s u m e r ' s e xp e c t a ti on s a ndho w o t h e r s e v a l u a t e t h e p r odu c t D . T h e r e l a ti on s h i pb e t w ee n t h e p r i ce o f t h e p r od u c t a nd t h e l e v e l o f c u s t o m e r s e r v i ce p r ov i d e d E . T h e r e l a ti on s h i pb e t w ee n t h ec on s u m e r ' s e xp e c t a ti on s a nd t h e p r odu c t ' s p e r ce i v e d p e rf o r m a n ce 37. M a r k e t e r s o f b r a nd s und e r s t a nd t h a tt h e y m u s t fi gu r e ou t ho w t o r eac h t h a t ca n e x e r t s o c i a li n fl u e n ce ono t h e r s . A . m ill e nn i a l s B . b a byboo m e r s C . s o c i a l g r oup s D . c u lt u r a l s e g m e n t s E . op i n i on l ea d e r s C HA P TE R 6 38. O n ce s e g m e n t s h a v e b ee n i d e n ti fi e d , m a r k e t e v a l u a t e s eac h s e g m e n t ' s a tt r ac ti v e n e ss a nd s e l ec t s on e o r m o r e t o s e r v e . A . m i c r o m a r k e ti ng B . po s iti on i n g C . d i ff e r e n ti a ti on D . s e g m e n t a t i on E . t a r g e ti ng 39. M a j o r v a r i a b l e s u s e d t o s e g m e n t c on s u m e r m a r k e t s i n c l ud e w h i c ho f t h e f o ll o w i ng ?
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) A . I n c o m e , a g e , g e og r a ph i c , a nd li f e s t y l e B . G e og r a ph i c , d e m og r a ph i c , p s y c hog r a ph i c , a nd b e h a v i ou r a l C . I n c o m e , g e nd e r , a g e , a nd e t h n i c it y D . E t hn i c it y , g e og r a ph i c , g e n d e r , a nd i n c o m e E . G e og r a ph i c , d e m og r a ph i c , p s y c hog r a ph i c , a ndp s y c ho l og i ca l 40. T h e R it z - C a r lt onh a s ca r e f u ll y c r ea t e d a s t r ong a ndd i s ti n c ti v e d i ff e r e n ti a ti on s t r a t e gy , w h i c h i s s uppo r t e dby e v e r y t h i ng t h ec o m p a ny s a y s , i s , a nddo e s . W h i c h t yp e o f d i ff e r e n ti a ti on i s t h i s ? A . I m a g e d i ff e r e n ti a ti on B . S e r v i ce s d i ff e r e n t i a ti on C . C h a nn e l d i ff e r e n t i a ti on D . P e op l e d i ff e r e n ti a ti on E . P r odu c t d i ff e r e n ti a ti on
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) 41. C o m p a n i e s n ee d t o c on s i d e r m a ny f ac t o r s w h e n c hoo s i ng a m a r k e t - t a r g e ti ng s t r a t e gy . H o w e v e r , w h i c h t a r g e ti ng s t r a t e gy i s b e s t d e p e nd s on c o m p a ny r e s ou r ce s , p r odu c t v a r i a b ilit y , p r odu c tli f e - cyclestage,aswellas . A . m a r k e t v a r i a b ilit y a nd c o m p e titi v e m a r k e ti n g s t r a t e g i e s B . s u s t a i n a b ilit y s t r a t e g i e s a nd m a r k e t v a r i a b il it y C . d i s t r i bu ti on c h a r ac t e r i s ti c s a nd c o m p e titi v e m a r k e ti ng s t r a t e g i e s D . p r odu c t d e v e l op m e n t s t r a t e g i e s a nd c o m p e titi v e m a r k e ti ng s t r a t e g i e s E . m a r k e t v a r i a b ilit y a nd s a l e ss t r a t e g i e s 42. W h i c ho f t h e f o ll o w i ngd e s c r i b e s t h e p r o ce ss o f a rr a ng i ng f o r a m a r k e t o ff e r i ng t oo cc upy ac l ea r , d i s ti n c ti v e , a ndd e s i r a b l e p l ace r e l a ti v e t o c o m p e ti ngp r odu c t s i n t h e m i nd s o f t a r g e t c on s u m e r s ? A . P o s iti on i ng B . M a r k e t s e g m e n t a ti on C . M a r k e tt a r g e ti ng D . D i ff e r e n ti a t i on E . M a ss m a r k e t i ng 43. W h e n m a r k e t e r s a gg r e ss i v e l yp r o m o t e on l yon e b e n e fi tt o t h e t a r g e t m a r k e t , t h e b e n e fi t p r o m o t e d i s kno w n a s t h e p r odu c t o r s e r v i ce ' s . A . un i qu e p r odu c t p r opo s iti on B . un i qu e b e n e fi t p r o po s iti on C . un i qu e s e lli ngp r o po s iti on D . un i qu e po s iti onp r opo s iti on E . un i qu e d i ff e r e n ce p r opo s iti on 44. I n w h i c h t a r g e ti ng s t r a t e gydo e s a fi r m go a f t e r a l a r g e s h a r e o f on e o r a f e w s m a ll e r s e g m e n t s ?
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Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) A . C on ce n t r a t e d m a r k e ti ng B . U nd i ff e r e n ti a t e d m a r k e ti ng C . D i ff e r e n ti a t e d m a r k e ti ng D . M a ss m a r k e ti n g E . M i c r o m a r k e ti ng 45. S e g m e n t a ti onp r ov i d e s a po w e rf u lt oo l f o r m a r k e t e r s o f a ll k i nd s . I t ca nh e l p c o m p a n i e s i d e n t i f y a ndb e tt e r und e r s t a ndk e y c u s t o m e r s e g m e n t s , t o t h e i r s p ec i fi c n ee d s . A . r eac h t h e mm o r ee ffi c i e n tl y , a ndd i ff e r e n ti a t e p r odu c t s a nd s e r v i ce s B . po s iti on , a nd t a il o r m a r k e t o ff e r i ng s a nd m e ss a g e s C . t a r g e t , a nd t a il o r m a r k e t o ff e r i ng s a nd m e ss a g e s D . r eac h t h e m m o r ee ffi c i e n tl y , a nd t a il o r m a r k e t o ff e r i ng s a nd m e ss a g e s E . r eac h t h e mm o r ee ffi c i e n tl y , a ndpo s i ti onp r odu c t s a nd s e r v i ce s C HA P TE R 7
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) 46. In determining product quality, what are the two dimensions of quality marketers must decide upon? A. Level and consistency B. Consistency and conformance C. Consistency and packaging D. Level and conformance E. Level and price 47. Groups of products consist of materials and parts, capital items, and supplies and services. A. unsought B. shopping C. convenience D. industrial E. specialty 48. When a company lengthens a product line by adding more items within that line's current range, the company is . A. filling the line B. stretching the line downward C. increasing the width of the product mix D. stretching the line upward E. decreasing the depth of the line 49. Ad agency Young & Rubicam's BrandAsset Valuator measures brand strength along four consumer perception dimensions. Brand is defined in terms of how highly consumers regard and respect the brand. A. equity B. relevance C. knowledge D. esteem E. differentiation 50. Consumer products are products and services bought by final consumers for personal consumption. Consumer product classifications include , and unsought products. A. luxury, specialty B. convenience, shopping, specialty C. convenience, shopping, optional D. shopping, specialty, sought products E. convenience, shopping, seasonal 51. Which of the following incorporates the advantage of brands operating in different categories with the combined brands creating broader consumer appeal and greater brand equity?
Downloaded by David Bensoussan (david.m.bensoussan@gmail.com) A. Store branding B. Distributor branding C. National branding D. Private branding E. Co-branding 52. The quality of services depends on who provides them as well as when, where, and how they are provided. Which characteristic of services does this describe? A. Variability B. Perishability C. Intangibility D. Tangibility E. Inseparability 53. is the value of customer relationships that a brand creates. A. Customer value B. Brand value C. Brand equity D. Customer equity E. Brand differentiation
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