Marketing research is the process of defining a marketing problem and opportunity, _______, and recommending actions. |
A |
When following the five-step marketing research approach, developing the research plan is the _____ step. |
B |
In marketing research, the research objectives are the ____ goals of the decision maker. |
E |
Measures of success are |
E |
In a marketing decision, _____ are likely to be restrictions on the time and money available to solve the problem. |
D |
Determining how to collect data, including selecting the appropriate methods, is done during which stage of the research process? |
B |
Two special methods vital to marketing researchers are _____ and _____. |
A |
When a marketing researcher uses a collection of reports, customer letters, financial statements, and surveys from different departments within her firm, she is using |
E |
Representatives from Kraft spent several months with consumers in their kitchens, attempting to understand what they wanted in ready-to-serve meals prior to the launch of Kraft Deli Creations. The observational approach Kraft used is called __________ research. |
D |
In eight small group sessions with customers, 3M heard them complain that standard steel wool pads scratched their expensive cookware. The findings from this research lead to the development of 3M’s internationally successful Scotch-Brite Never Scratch soap pads. The research method 3M used was |
C |
What type of question is the simplest form of a fixed alternative question that allows only a "yes" or "no" response? |
C |
What kind of question is the following? "Place an ‘X’ in the space that describes your feelings about the economy." ." Excellent __ __ __ __ __ Poor |
E |
An advantage of using a panel for marketing research is |
D |
All of the following are independent variables a market researcher may use in a marketing experiment EXCEPT: |
D |
In marketing experiments, the dependent variable is the __________ and the independent variable is the __________. |
C |
If a marketing manager queries a marketing information system to determine what the influence of a change in the price of a new product is on sales, she is using __________. |
D |
A forecast that involves estimating the value to be forecast and making decisions without any intervening steps is referred to as a |
B |
Boeing has only a few hundred customers worldwide for its large airplanes, so it can contact these customers and conduct __________, which is an effective method to develop its sales forecasts and production schedules. |
E |
Asking the firm’s salespeople to estimate sales during a coming period is referred to as |
D |
Linear trend extrapolation is a type of trend extrapolation in which |
C |
Market segmentation involves aggregating prospective buyers into groups that have common needs and will |
E |
Sensodyne ProNamel toothpaste is formulated to re-harden acid softened tooth enamel to increase protection for users’ teeth, and this attribute sets it apart from competitors. Sensodyne’s advertising promotes this product benefit and is an example of |
C |
Which of the following is an example of a single product with multiple market segments?A) Reebok makes tennis shoes, running shoes, walking shoes, and Weeboks. |
C |
__________ is the increased customer value achieved through performing organizational functions, such as marketing, production, and operations, more efficiently. |
B |
__________ is the third step in the five step process of segmenting and targeting markets. |
E |
Potential buyers within a market segment should be |
C |
Which of the following is a variable that could be used for demographic segmentation of consumer markets? |
A |
Though the percentages are not always the same, a general rule in business says that the large majority of a firm’s revenues come from what percent of its customers? |
B |
Which segmentation base do organizations use most according to a recent study by the Aberdeen Group? |
B |
The nearly 14 percent of adult Americans who do not go to fast-food restaurants in a typical month and who are never likely to become users would be referred to as |
D |
U.S. organizational markets use three main segmentation bases, which are |
C |
Kitchen World has put its offerings in store locations based upon the cooking activity—the way consumers prepare and present various meals. Everything for baking is in one spot, while food preparation utensils are in another, and table settings are in yet another. This strategy uses |
B |
An important part of creating a market-product grid is to |
C |
Which of the following is a criterion used to select a target market segment? |
E |
Running horizontally across a market-product grid, each row represents an opportunity for efficiency in terms of |
B |
Two major types of product positioning are |
D |
Which type of product positioning would be used to compete directly with competitors on similar product attributes in the same target market? |
E |
Which type of product positioning would be needed for two or more brands from the same company in order to minimize cannibalization? |
D |
A key to positioning a product or brand effectively is to discover the perceptions in the minds of potential customers. This involves taking four steps, one of which includes |
E |
A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand, is referred to as a __________. A) crosstabulation |
B |
A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’ needs and is received in exchange for money or something else of value is referred to as a(n) |
B |
Among consumer products, personal selling is especially important for |
C |
Services are |
B |
Consumer products are classified based on the: (1) attributes used in making the purchase decision; (2) frequency of purchase; and (3) |
D |
Inexpensive products with widespread availability are considered to be |
D |
Which of the following is the best example of a specialty product? |
A |
As consumers demand for Ford cars increases, Ford may increase its demand for paint spraying equipment, which in an example of __________ for the latter. |
C |
The camera lens module for Apple’s iPhone is manufacturers by Largan Precision and its touch panel comes from TPK. These are considered __________ for Apple’s product. |
B |
Teachers, optometrists, and social workers are service workers that could be classified as |
D |
Equipment-based services do not have the marketing concerns of inconsistency because |
C |
A student who is inadequately helped by someone in career services and whose phone calls to the librarian remain unanswered may start to have a negative perception of her school, despite the fact that she has learned a lot in her classes. This is a function of the __________ aspect of services. |
B |
Idle production capacity can be reduced by |
E |
The willingness to help customers and provide prompt service is referred to as |
B |
Annie’s Organic Shells & White Cheddar, an organic macaroni and cheese, is an example of a |
A |
Which of the following products at the time of their introduction was the best example of a continuous innovation? |
B |
Ideally, before a new product is developed, a firm should have a precise protocol, which is a statement that identifies: (1) what the product will be and do to satisfy consumers; (2) specific customers’ needs, wants, and preferences; and (3) __________. |
C |
There are eight marketing reasons why a new product can fail. One of these is __________. |
A |
There are six organizational problems that can cause new-product disasters. One of them is __________. |
B |
Which stage in the new-product process results in the definition of the new product protocol and identifies the role it might serve in the firm’s business portfolio? |
A |
Amanda is the owner of a company called Piquant (which means having a pleasantly sharp taste or appetizing flavor). She was looking for a new product to go with her company’s line of food condiments when a customer suggested creating a spicy mayonnaise. This is an example of |
E |
During the introduction stage of the product life cycle, the place element of the marketing mix is highly involved with |
A |
Domino’s ran an advertisement saying that in a taste test its oven-baked sandwiches beat Subway 2-to-1. With this ad, Domino’s was attempting to stimulate __________ demand. |
A |
Profit margins often peak as competitors enter the market, and aggressive pricing strategies take hold. This happens during which stage of the product life cycle? |
A |
DVD players would MOST LIKELY be in the __________ stage of the product life cycle. |
C |
Harvesting is an option for a product in the __________ stage of its product life cycle. |
B |
An extended introduction stage of the product life cycle occurs for which type of product? |
A |
__________ begins with new-product purchases first by innovators, and then by early adopters. A) The consumer purchase adoption process |
D |
The person responsible for managing the marketing efforts for a close-knit family of products or brands is called the __________ or __________. |
C |
The Florida Orange Growers Association advocates drinking orange juice throughout the day rather than for breakfast only. It is primarily using which of the following market modification strategies? |
C |
Which of the following triggers a product repositioning action? |
B |
Quaker Oats makes the FDA-approved claim that oatmeal, as part of a low-saturated-fat, low-cholesterol diet, may reduce the risk of heart disease. It is primarily using which of the following product repositioning strategies for this product? |
E |
Michelin has added a "run-flat" feature to its higher-priced tire lines so that they can travel up to 50 miles at 55 miles per hour after suffering total air loss. The marketing strategy Michelin used is called market modification. |
C |
When a brand name cannot be spoken, it is considered a __________. |
E |
When selecting a brand name, it should: (1) suggest product features; (2) be memorable, distinctive and positive; (3) fit the company or product image; (4) have no legal or regulatory restrictions; and (5) __________. |
A |
All products sold by the Tabasco Company use the Tabasco brand. This is an example of __________. |
E |
The seven Ps of services refer to an expanded marketing mix for services that includes the four Ps (product, price, place, and promotion) as well as |
E |
Which of the following statements concerning the pricing of services is most accurate? |
E |
Off-peak pricing refers to |
C |
Nonprofit service organizations use them, but public service announcements (PSAs) |
C |
The acronym CEM in services marketing stands for __________. |
B |
From a marketing viewpoint, price is __________ exchanged for the ownership or use of a product or service. |
B |
Gem Cakes sells designer cupcakes for $4 each. Each cupcake costs $1 for the ingredients and wrapper. Monthly expenses for the shop include the following: rent is $1,000; utilities are $200; an advertisement in the local paper is $200; and wages are $4,000 per month. How much monthly profit would be expected if the business sells 6,000 cupcakes each month? |
D |
Which of the four pricing approaches would a new-product manager be using if he or she is deciding whether to adopt a penetration or a skimming pricing strategy? |
B |
Bijan’s in New York City offers a five-piece set of crocodile luggage for $55,000. This is MOST LIKELY an example of __________ pricing. |
B |
What is target pricing? |
A |
Jane Westerlund owns a picture-framing shop, The Caplow Co. Her price must cover her costs for a typical framed picture, which consists of $8 for glass, $2 for matting, $15 for the frame, and $35 for the labor involved. She must also cover monthly expenses of $1,000 for rent and insurance, $200 for heat and electricity, $300 for advertising, and $3,500 for her salary. The Caplow Co. wants a target profit of $55,000 based on a volume of 1,000 picture frames sold so it can expand the number of stores. What price should Jane Westerlund charge for a picture frame? |
D |
Vending machines are a good example of the application of which type of competition-oriented pricing approach? |
A |
Newsweek ran a pricing experiment that involved setting different newsstand prices for its magazine in different cities and recording the number of units sold. After adjusting for factors like the population of the different cities, Newsweek could plot these prices and units sold in a graph called a(n) |
E |
Which of the following statements about price elasticity of demand is most accurate? |
D |
Laura Hillenbrand’s book Unbroken, a WWII story of survival and resilience, was a New York Times bestseller in nonfiction for years. During its first year after publication, it often sold 25,000 copies a week in hardcover, at $27 apiece. The publisher’s costs were only about $5 a book. What is the total weekly revenue obtained during these weeks? |
D |
The Precision Writing Instruments Company makes a high-end pen known as the Cordova. Materials cost per pen is $6. Labor cost per pen is $5. Production overhead is $1,000,000. Advertising and promotion is $1,000,000. What are the total costs for sales of 500,000 units of the Cordova design? |
E |
Which of the following would be an example of a variable cost for a publication like SHAPE magazine that is targeted to young women seeking a healthier lifestyle? |
D |
A break-even point refers to |
C |
North Safety Products manufactures butyl gloves that offer permeation resistance to gas or water vapors for workers that use dangerous chemicals like ketones. The company has fixed costs of $10 million for its butyl glove production and unit variable costs of $5 per pair. If the company charges $15 per pair, how many pairs of gloves must it sell to break even? A) 200,000 pairs |
D |
Which of the following statements about profit objectives is most accurate? |
B |
Low-cost provider Allegiant Air began operations to fly into Long Beach in 2010, and into Bakersfield in 2011. It has since abandoned both efforts because rival carriers responded to its plans with very aggressive price cuts that drove it out of these two markets. The other carriers could be accused of using __________ pricing. |
D |
Guitar Center recently instituted "no haggle" selling prices, much to the dismay of some musicians who enjoyed bargaining and getting a better deal than a novice. But now, no matter which Guitar Center store a customer visits, that person will be quoted the same price for the same guitar. This is an example of a __________ policy. |
C |
A(n) __________ involves setting different prices for products and services depending on individual buyers and purchase situations in light of demand, cost, and competitive factors. A) target-pricing policy |
B |
If you buy one pair of UVex Clear UVExtreme safety eyewear in the winter, the cost is $7.40. But if you buy 10 pairs in a single purchase, the price per pair is reduced to $6.85, a total savings of $5.50. This is an example of a |
E |
Functional discounts are offered to resellers in the marketing channel on the basis of the marketing activities they are expected to perform in the future and |
C |
Marketing Test 2 ch 7-11
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