MKT100-HK. PRINCIPLES OF MARKETING (MKT100-HK) MCQs n ANSWERS GRADED A Completed for 2022/2023

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MKT100-HK. PRINCIPLES OF MARKETING (MKT100-HK) MCQs n ANSWERS …GRADED – A Question 1 Multiple Choice out of 1 points Using a successful brand name to introduce additional ite... ms in a given product category under the same brand name (such as new flavors, forms, colors, added ingredients, or package sizes) is called: Question 2 Multiple Choice out of 1 points Which of the following would not be one of the three major groups of industrial products and services? Question 3 Multiple Choice out of 1 points According to Forrester's Technographics scheme for segmenting Internet customers according to motivation, desire, and ability to invest in technology, __________ are the biggest spenders on computer technology. They adopt new technology for home, office, and personal use before most others. Question 4 True/False out of 1 points Marketing myopia occurs when sellers are so taken with their products that they focus only on existing wants and lose sight of underlying customer needs. Question 5 Multiple Choice out of 1 points A growing number of firms have adopted differentiated marketing. However, one drawback to this approach is that it: Question 6 Multiple Choice out of 1 points The _____________________ is the collection of businesses and products that make up the company. Question 7 Multiple Choice out of 1 points eBay puts buyers in touch with sellers and takes from a 1.25 percent to a 5 percent commission on each sale. This would be an illustration of which of the following sources of e-commerce revenue? Question 8 Multiple Choice out of 1 points Micromarketing includes: Question 9 Multiple Choice out of 1 points If a manufacturer was following the product concept, their operating philosophy would rely on which of the following phrases? Question 10 True/False out of 1 points Selling is the delivery of customer satisfaction at a profit. Question 11 Multiple Choice out of 1 points A private brand is a brand created and owned by: Question 12 Multiple Choice out of 1 points Concern that resources such as forests and food be used wisely is an outgrowth of which trend in the natural environment? Question 13 Multiple Choice out of 1 points One of the most promising developments in multivariable segmentation is called _________________, where a host of demographic and socioeconomic factors are used. Question 14 True/False out of 1 points The increasing age factor of U.S. consumers is among the four specific forces underlying the new Internet age. Question 15 True/False out of 1 points An example of a firm that practices individual marketing is Mattel, with its My Design page of its Barbie Web site. Question 16 Multiple Choice out of 1 points A company must always guard against dissatisfying customers. On average, a satisfied customer tells 3 people about a good purchase experience. A dissatisfied customer, however, on average gripes to ________ people. Question 17 True/False out of 1 points The first stage of the business buying process is that of problem recognition. Question 18 True/False out of 1 points One of the major challenges facing online marketers is the inability to ensure privacy. Question 19 Multiple Choice out of 1 points ______________ is(are) a person's unique psychological characteristics that lead to relatively consistent and lasting responses to his or her own environment. Question 20 Multiple Choice out of 1 points Finance, research and development, purchasing, and manufacturing are all activities that are a part of which element of the microenvironment? Question 21 Multiple Choice out of 1 points During one of the steps in the marketing segmentation, targeting, and positioning process, the marketer develops measures of segment attractiveness. This procedure belongs in the category of: . Question 22 Multiple Choice out of 1 points With respect to the dollar volume for transactions, which of the following Internet domains is expected to reach more than three trillion by 2003? Question 23 Multiple Choice out of 1 points Hispanics are often called an emerging market. Which of the following general product categories do not sell well to Hispanics? Question 24 Multiple Choice out of 1 points _______________ is a strategy of using a successful brand name to launch a new or modified product in a new category. Question 25 Multiple Choice out of 1 points Factors such as supplier reputation for repair and servicing capabilities are important criteria for evaluation at which stage in the business buying process? Question 26 True/False out of 1 points Internal marketing means that perceived service quality depends heavily on the quality of the buyer-seller interaction during the service encounter. Question 27 Multiple Choice out of 1 points Designing a plan for primary data collection usually calls for decisions in all of the following areas EXCEPT: Question 28 True/False out of 1 points In a simple model of buyer behavior, marketing and other stimuli are processed in a consumer's black box. Question 29 Multiple Choice out of 1 points The purpose of strategic planning is to find ways in which the company can best: Question 30 Multiple Choice out of 1 points __________________ is marketing research to better describe marketing problems, situations, or markets. Question 31 True/False out of 1 points A key component of the augmented product is the warranty. Question 32 True/False out of 1 points Because interviewers have more freedom in personal interviews while conducting a focus group, the problem of interviewer bias is very slight. Question 33 True/False out of 1 points A straight rebuy occurs when a business buyer wants to modify product specifications, prices, terms, or suppliers. Question 34 Multiple Choice out of 1 points Laws that prevent companies from neutralizing competition reflect which reason for the existence of legislation affecting business? Question 35 Multiple Choice out of 1 points When the researcher is using a _____________, each population member has a known chance of being included in the sample. Question 36 Multiple Choice out of 1 points Which of the following is NOT one of the five stages of the buyer decision process? Question 37 Multiple Choice out of 1 points Reviewing trade directories, doing a computer search, or phoning other companies for recommendations would be methods that an interested buyer might perform in which of the following stages of the business buying process model? Question 38 True/False out of 1 points Digital information, which operates a growing number of appliances and systems, comes in streams of Xs and 0s. Question 39 Multiple Choice out of 1 points The stage in the buyer decision process in which the consumer is aroused to search for more information is called: Question 40 Multiple Choice out of 1 points Under which of the following marketing connections would "connecting through strategic alliances" most likely fall? Question 41 True/False out of 1 points If consumers have a cultural shift toward greater concern about health and fitness, then a correct marketing response would be to manufacture or market health and fitness services, exercise equipment, and sports clothing. Question 42 Multiple Choice out of 1 points A(n) ________________ consists of the activities people are expected to perform according to the persons around them. Question 43 Multiple Choice out of 1 points A ____________ is the marketing logic whereby the company hopes to achieve its marketing objectives. Given Answer: d. marketing strategy Correct Answer: d. marketing strategy Question 44 Multiple Choice out of 1 points ____________ is individuals and households who buy goods and services for personal consumption. Question 45 True/False out of 1 points One way to conduct observational research would be to use a people meter. Question 46 Multiple Choice out of 1 points The best example of a specialty product listed below is that of a(n): Question 47 Multiple Choice out of 1 points Cognitive dissonance occurs in which stage of the buyer decision process model? Question 48 Multiple Choice out of 1 points Managers believe that the hardest step to accomplish successfully in the marketing research process is the one where the marketing manager has to: Question 49 Multiple Choice out of 1 points It is a fact that there are 32.5 million left-handed people in the United States. However, most marketers do not attempt to appeal to or design products for this group because there is little in the way of census data about this group. Therefore, this group fails in one of the requirements for effective segmentation. Which of the following is most likely to apply in this case? Question 50 Multiple Choice out of 1 points In outstanding companies, people at all levels, including top management,: Question 51 Multiple Choice out of 1 points ________________ research is the gathering of primary data by observing relevant people, actions, and situations. Question 52 Multiple Choice out of 1 points The _______________ holds that consumers will favor products that are available and highly affordable (therefore, management should work on improving production and distribution efficiency). Question 53 Multiple Choice out of 1 points Francis Smith wishes to pull psychographic data about customers' wants and desires from the company's database. The company has been maintaining elaborate records about the wants and desires of its customers for years in what would now be called a data warehouse. When Francis pulls the needed data gems from the data warehouse, she has just participated in the process of: Question 54 Multiple Choice out of 1 points In a marketing information system, it is necessary to develop needed information. All of the following would be primary sources of this needed information EXCEPT: Question 55 Multiple Choice out of 1 points Steelcase office equipment company, when designing its highly successful Personal Harbor modular office units, set up video cameras at various companies to study motions and behavior patterns that customers themselves might not even notice. This would be an example of which of the following research approaches? Question 56 True/False out of 1 points A good illustration of the "Mouse Potatoes" lifestyle (as described by Forrester's Technographics scheme) would be a person who is dedicated to interactive entertainment and willing to spend for the latest in "technotainment." Question 57 Multiple Choice out of 1 points Generation Xers are given that name because: Question 58 Multiple Choice out of 1 points _________________ depend(s) on a product's perceived performance in delivering value relative to a buyer's expectations. Question 59 True/False out of 1 points In the adopter classification scheme, innovators account for about half of the bell-shaped adoption curve. Question 60 True/False out of 1 points Strategic planning involves defining a clear company mission and other activities. Question 61 Multiple Choice out of 1 points Some firms choose to milk an SBUs short-term cash flow regardless of the long-term effect on the SBU. This strategy is generally called a ________________ strategy. Question 62 Multiple Choice out of 1 points According to the latest research by American Demographics done in October 2000, Baby Boomers account for which of the following percentages of the total U.S. population? Question 63 Multiple Choice out of 1 points How the consumer processes information to arrive at brand choices occurs during which stage of the buyer decision process? Question 64 Multiple Choice out of 1 points __________________ means that service quality depends heavily on the quality of the buyer-seller interaction during service encounters. Question 65 Multiple Choice out of 1 points The Johnson Company is seeking to expand its business onto the "information highway" made possible by recent advances in technology. To do this, the Johnson Company would most likely choose the: Question 66 Multiple Choice out of 1 points Companies in the middle range of the market who wish to extend their product lines to both the upper and the lower end are considering: . Question 67 Multiple Choice out of 1 points If brick-and-mortar firms such as Barnes & Noble or Wal-Mart start their own online sales channels, they would become a ______________ firm. Question 68 Multiple Choice out of 1 points Most Americans believe in being honest. This would be an example of which of the following types of beliefs or values? Question 69 Multiple Choice out of 1 points Seiko watches cover many different buying motives, as well as desires for different features. For example, higher-priced Seiko Lasalles cover the upper end of the watch market, while Seiko's Pulsar covers the lower end. The Lasalle and Pulsar would be called: Question 70 True/False out of 1 points Market targeting involves evaluating each market segment's attractiveness and selecting one or more segments to enter. Question 71 Multiple Choice out of 1 points Purchases in the business market often involve large sums of money, complex technical and economic considerations, and interactions among many people at many levels of the buyer's organization. This is evidence of which of the following characteristic differences between business and consumer markets? Question 72 True/False out of 1 points The only survey method that receives an "excellent" rating with respect to cost is the online method of survey research. Question 73 Multiple Choice out of 1 points The buying process can be triggered by a(n) __________ when one of the person's normal needsÄÄhunger, thirst, sexÄÄrises to a level high enough to beco Question 74 Multiple Choice out of 1 points Understanding consumer buying behavior is not easy. The answers are often locked deep within the consumer's head. The central question for marketers is: Question 75 Multiple Choice out of 1 points 3M runs a Pollution Prevention Pays program that has led to a substantial reduction in pollution and costs. This would be an example of responding to which of the following? Question 76 Multiple Choice out of 1 points Firms that help the company to stock and move goods from their points of origin to their destinations are called: Question 77 True/False out of 1 points Women account for nearly one-half of all hardware purchases. The most accurate correlation with this example would be that of changing social class distinctions. Question 78 Multiple Choice out of 1 points Which of the following common survey methods is rated "poor" in terms of speed of data collection? Question 79 Multiple Choice out of 1 points The ________________ questions whether the pure marketing concept is adequate in an age of environmental problems, resource shortages, rapid population growth, worldwide economic problems, and neglected social services. Question 80 Multiple Choice out of 1 points A _______________ is a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service. Question 81 Multiple Choice out of 1 points The ____________________ prohibits monopolies and activities (such as price fixing and predatory pricing) which restrain trade or competition in interstate commerce. Question 82 Multiple Choice out of 1 points When Mercedes-Benz targets the world's well-to-do, regardless of their country, they are most likely following a segmentation strategy called: Question 83 Multiple Choice out of 1 points The set of laws and regulations that guides commerce and that limits business for the good of society as a whole is called: Question 84 True/False out of 1 points When each department within an organization carries out value-creating activities to design, produce, market, deliver, and support the firm's products, the department is part of what is called a value chain. Given Answer: False Correct Answer: True Question 85 Multiple Choice out of 1 points As a form of a reference group, the _______________ are ones to which the individual wishes to belong. Question 86 Multiple Choice out of 1 points Which of the following would be the best illustration of corporate image advertising? Question 87 Multiple Choice out of 1 points For most of the 20th century, firms practiced which of the following forms of marketing? Question 88 Multiple Choice out of 1 points Considering the strategies available in the product/market expansion grid, assume that a company cuts prices, increases advertising, tries to get its products into more stores, and tries to obtain better in-store displays. Which of the following strategies would the company most likely be pursuing based on the above actions? Question 89 Multiple Choice out of 1 points When Michael Jordan and Tiger Woods use marketing to promote their careers and improve their impact and incomes, they are using: Question 90 Multiple Choice out of 1 points If a firm is practicing ____________________, the firm is training and effectively motivating its customer-contact employees and all of the supporting service people to work as a team to provide customer satisfaction. Question 91 Multiple Choice out of 1 points ______________ is the gathering of primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior. Question 92 Multiple Choice out of 1 points When Wal-Mart's purchasing department obtains the lowest prices possible from suppliers so that Wal-Mart can sell at low prices to the consumer, the purchasing department becomes part of a ______________. Question 93 Multiple Choice out of 1 points Which of the following generations was once labeled the MTV generation? Question 94 Multiple Choice out of 1 points All of the following are considered to be drawbacks of local marketing EXCEPT: Question 95 Multiple Choice out of 1 points All of the following would be among the chief factors to consider when choosing a market-coverage strategy EXCEPT: Question 96 Multiple Choice out of 1 points With respect to Internet usage, Americans at the lower end of the socioeconomic ladder are more likely to view the Internet as: Question 97 Multiple Choice out of 1 points A ______________ consists of consumers who respond in a similar way to a given set of marketing efforts. Question 98 Multiple Choice out of 1 points __________ are shaped by one's society and are described in terms of objects. Question 99 Multiple Choice out of 1 points Under the BCG growth-share matrix, relative market share provides: Question 100 True/False out of 1 points Many companies operate without formal plans. [Show More]

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