Exam #2 Prep
Quiz by Dawn Pepin
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29 questions
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- Q1Which of these is considered a service?a presidential candidatean art museuma bicyclea taco30s
- Q2What is a product line?a specific product SKU that has a unique brand, size, or price.a group of product or service items that are closely related in terms of needs satisfied, uses, customer group, outlets, or price range.a product and all its ancillary services (warranties, financing, etc.).the variations within a product class.the entire product category or industry.30s
- Q3A 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 asproduct positioning.market penetration.product differentiation.market differentiation.points of difference.30s
- Q4You may have seen automobile ads that show a controlled crash of a car containing crash test dummies and the resultant vehicular damage. In the new-product development process, this safety test would occur during the ________ stage.business analysisidea generationdevelopmentmarket testingscreening and evaluation30s
- Q5When Home Depot entered the Quebec market in Canada, two percent of people were aware of the retail chain. To determine advertising effectiveness during the first 18 months in Quebec, awareness research was done a second time. For this research, it was decided that if at least 50 percent of a 600-person sample of the population were aware of the Home Depot brand, it would continue its present advertising program. Here, level of awareness is an example ofa barrier to entrysecondary dataa constrainta measure of successan assumption30s
- Q6Reggie’s Used Cars wanted to test whether straight price discounting worked better than a free gift. It ran two different commercials on alternate Wednesdays. The first offered 10 percent off the Kelley Blue Book price for any SUV on the lot while the second offered a free tent with the purchase of any SUV at the Kelley Blue Book price. The type of offer was the ________ variable. The number of people that responded to each type was the ________ variable, which would suggest the best strategy for increasing traffic.dependent; independentmarketing; dependentdependent; controlcontrol; independentindependent; dependent30s
- Q7Sherrie sold about $800 worth of produce last weekend at a farmer’s market, but it was sunny and warm both days. This Saturday and Sunday are both supposed to be rainy, so she thinks fewer people will attend. She estimates she’ll only sell about three-fourths of her total for last time, or $600. This is an example of a(n)indirect forecastlost-horse forecastincremental forecastbuyer’s intentions forecastdirect forecast30s
- Q8Market segments areall buyers of a product or service who have previously purchased a particular firm’s products or services and who intend to repeat that purchase sometime in the future.the relatively homogenous groups of prospective buyers that result from the market segmentation process.the relatively heterogeneous groups of prospective buyers that result from the market segmentation process.the smallest number of buyers that have similar needs but do not react similarly in a buying situation.30s
- Q9A 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 aspoints of differenceproduct differentiationmarket differentiationproduct positioningmarket penetration30s
- Q10One test of whether marketing research should be done is ifdifferent outcomes will lead to different marketing actions.there is a budget for the research.multiple changes can be implemented simultaneously.the decision to undertake it is unanimous.interpreting the data can be done using a jury of executive opinions.30s
- Q11A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is aproduct differentiation tablegrowth-share matrixneeds tablecross-tabulationmarket-product grid30s
- Q12The purpose of the five key steps in segmenting and targeting markets is toidentify competitors that provide similar products that satisfy a firm’s customers’ needs.correlate directly to each of the five environmental forces.provide guidance to reposition a firm’s products.generate new-product ideas for firms that are not growing in market share.link market needs of customers to the organization’s marketing program.30s
- Q13Jeni owns a company that makes Triangle BBQ Sauce. She wants to target local people who like the special blend of flavors found only in North Carolina barbecue sauce. In developing a marketing strategy to sell the sauce, Jeni decided to join Goodness Grows in North Carolina, a specialty food association that advertises local products and distributes them to local supermarkets and gourmet shops. Jeni has justformed a market segment using critical product features.developed a market-product grid and estimating size of markets.formed prospective buyers into segments.formed products to be sold into groups.taken a marketing action to reach a target market segment.30s
- Q14In the athletic shoe market, Adidas AG and Nike, Inc. practice __________ positioning since both companies vie for the same customers with technologically advanced products.marketperceptualdifferentiationpsychologicalhead-to-head30s
- Q15What method is used by some restaurants to evaluate consumers' experience and compare their expectations to the actual visit?service encounter inquirycustomer contact auditservice auditgap analysiscustomer profile analysis30s