MARKETING bus 330 Mid-Term Exam 1 frequently tested Questions

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MARKETING bus 330 Mid-Term Exam 1 frequently tested Questions Mid-Term Exam 1 QUESTION 1 1. Mac user groups are an example of a. a brand community. b. an emotional connection. c. free ... advertising. d. personal benefits. 0.4 points QUESTION 2 1. The __________ are 3 –5% of consumers who like to try new ideas and are willing to take risks. They tend to be relatively educated, and capable and confident in assessing information about a product on their own. a. innovators b. early majority c. early adopters d. laggards 0.4 points QUESTION 3 1. What term refers to the group of people who are the most risk averse, skeptical of new products, and stereotypically lower in income? a. laggards b. early majority c. early adopters d. innovators 0.4 points QUESTION 4 1. What is the best way to stay ahead of the competition? a. focus on profits b. focus on what the CEO wants c. remain customer centric d. study the competition 0.4 points QUESTION 5 1. The test marketing was successful. Now, Jules needs to estimate the sales potential of the new all-natural cleaning product her company developed. Which of the following equations should she use? a. $SP = MP + PI + Pr b. $SP = MP × PI × Pr c. $SP = (MP × PI) + Pr d. $SP = (MP + PI) × Pr 0.4 points QUESTION 6 1. A doctor’s professional services are dominated by __________ elements. a. experience b. search c. product d. credence 0.4 points QUESTION 7 1. What sub population is growing faster than any other in the United States? a. Hispanic b. African American c. Asian d. Caucasian 0.4 points QUESTION 8 1. Strong brands a. are the most significant barrier to entry in the market. b. deliver greater returns with less risk. c. are a liability. d. guarantee success for a company. 0.4 points QUESTION 9 1. Newlyweds are most likely to spend money on which of the following? a. charitable giving b. health care c. music d. furniture 0.4 points QUESTION 10 1. Marketer 1 is marketing soft pretzels. Marketer 2 is marketing for a local amusement park. Why might their strategies differ? a. Marketer 1 would focus more on price than marketer 2. b. Marketer 2 would focus more on promotion than marketer 1. c. Marketer 1 has a tangible product, white marketer 2 has an intangible product. d. They don’t, their strategies would be the same. 0.4 points QUESTION 11 1. Potential strategic fit is a function of a. the firm’s resources. b. profitability. c. product prices. d. the current market size. 0.4 points QUESTION 12 1. A positioning statement captures how you want to a. improve your product. b. be perceived. c. manage your business. d. describe your customers. 0.4 points QUESTION 13 1. In which phase of the product life cycle is customer awareness getting stronger and some buzz occurring in the marketplace? a. market growth b. decline c. market introduction d. maturity 0.4 points QUESTION 14 1. Corporate strengths should be assessed relative to a firm’s competitors in order to understand customers and their a. awareness. b. demographics. c. market segments. d. purchase choices. 0.4 points QUESTION 15 1. Which of the following examples identifies a store brand? a. generic brand b. Sam’s Choice c. Premium d. second label 0.4 points QUESTION 16 1. Orbitz, a travel-planning company, offers low-price tickets on flights because a. this is something that benefits customers. b. it accepts a low margin. c. its business model is based on promotions. d. it is in competition with airlines. 0.4 points QUESTION 17 1. Entrepreneurs may need to approximate Prizm and VALS data, because they are a. difficult to understand. b. not available to the public. c. expensive. d. not interesting to consumers. 0.4 points QUESTION 18 1. A market is easier to estimate if the target market a. is defined. b. is large. c. has more components. d. is small. 0.4 points QUESTION 19 1. Nancy is considering whether her toy manufacturing business should develop its own brand. Which is a company reward Nancy can expect from branding? a. Brands convey information. b. Brands signal consistent quality. c. Brands enhance loyalty. d. Brands confer status. 0.4 points QUESTION 20 1. __________ is a subtle phenomenon that uses colors and fonts to affect how the message feels. a. Subliminal messaging b. Unconscious messaging c. Perceptual fluency d. Sensory perception 0.4 points QUESTION 21 1. Which of the following is a geographic factor? a. income b. media c. market size d. price 0.4 points QUESTION 22 1. Because customers typically overstate their purchase intention, research has suggested ratcheting down the purchase intention estimate by a factor of a. ⅛. b. ¼. c. ¾. d. ½. 0.4 points QUESTION 23 1. Marianne is shopping for a new car. Which of the 4Ps is most central to her purchase? a. place b. price c. promotion d. product 0.4 points QUESTION 24 1. Gender, age and income are all qualities of what segmentation base? a. demographic b. psychological c. education d. geographic 0.4 points QUESTION 25 1. A popular tool for segmenting that uses psychographic data, and that is based on the belief that one’s attitudes and value system determine one’s orientation to certain products and/or brands is called a. VALS. b. Mals. c. Prizm. d. Experian. 0.4 points QUESTION 26 1. A company has its best chance at keeping its customers happy if it a. sells products in many locations. b. communicates with them. c. competes with other companies. d. has low prices. 0.4 points QUESTION 27 1. Empty nesters tend to start dreaming of spending their greater discretionary income on a. music and movies. b. higher education. c. furniture and remodeling. d. travel and hobbies. 0.4 points QUESTION 28 1. What is a classic marketing exercise that is used to declare that one’s own food or drink product is superior to the market leader? a. blind taste tests b. blind smell tests c. advertising recognition test d. blind feel tests 0.4 points QUESTION 29 1. Company ABC is in the process of sizing the market for its new web-based service that allows consumers to be matched with local attorneys specializing in the area of law pertaining to the consumer’s need. The marketing team is trying to estimate the purchase decision-making process with respect to how likely it is that visitors to the site will hire an attorney identified by Company ABC. In estimating the purchase decision-making process, the marketing team should consider the elements of a. segmentation and trial. b. trial, intention, and repeat. c. awareness and intention. d. awareness, trial, and repeat. 0.4 points QUESTION 30 1. The stage of the product life cycle where sales and profits drop and new products replace older generations is called a. maturity. b. market growth. c. market introduction. d. decline. 0.4 points QUESTION 31 1. Differences in __________ and preferences require that different products be provided to satisfy the different segments’ needs. a. consumers b. perceptions c. companies d. targets 0.4 points QUESTION 32 1. Which of the following items is an example of brand extension? a. Dove soaps offer deodorant, body lotions, and hair care products, all called Dove. b. Intel is inside many PCs. c. Dawn dish soap and OLAY offer a hand renewal version of Dawn. d. Tide detergent contains the self-branded EverFresh scent. 0.4 points QUESTION 33 1. Which of the following is one of the 5Cs? a. comprehension b. commerce c. company d. communication 0.4 points QUESTION 34 1. The outcome orientation perspective of ethics is called a. consequentialism. b. deontological. c. psychological. d. philosophical. 0.4 points QUESTION 35 1. The ideal goal for the marketer is to find a(n) __________ group of customers whose needs it can easily and profitably meet. a. quality b. competing c. overserved d. untapped 0.4 points QUESTION 36 1. The most successful example of self-service is a. online shopping. b. the Internet. c. airport check-in. d. banking. 0.4 points QUESTION 37 1. Adam and Jose are attempting to identify the bundle of product features most likely to attract customers. Jose argues that they should conduct a(n) __________, which involves comparing different combinations of attributes, and the customer simply determines which product combination sounds best, next best, and so on. a. focus group b. conjoint study c. interview d. web survey 0.4 points QUESTION 38 1. Which of the following provides a systematic way to think about marketing? a. advertising principles b. business ethics c. the 5Cs d. marketing framework 0.4 points QUESTION 39 1. A CEO is considering how he wants his company to be positioned. He has thought of it as the coolest brand and the brand with the best value. Which of the following is true about his predicament? a. He can't position it as the brand with the best value. b. He can't position it as the coolest brand. c. He can probably achieve either of these goals, but not both. d. He can achieve both of these goals. 0.4 points QUESTION 40 1. The 4Ps include a. positioning. b. place. c. people. d. profit. 0.4 points QUESTION 41 1. Which of the following is NOT true according to this perceptual map? a. The Tesla and Prius are not competing with each other. b. People in segment 1 prefer Tesla or Prius to Lincoln or Lexus. c. Customers view Lexus and Lincoln as the most interchangeable of the brands. d. People in segment 2 seek nice luxury at inexpensive prices. 0.4 points QUESTION 42 1. A true global brand carries __________ brand name(s) and logo(s) anywhere it is offered, and it is available in most markets in the world. a. one b. more than 10 c. unlimited d. at least five 0.4 points QUESTION 43 1. Self-service is advancing in many industries wherein a __________ interacts with __________. a. customer, a customer service rep b. customer, technology c. service provider, the manufacturer d. manufacturer, technology 0.4 points QUESTION 44 1. A __________ is the general term used to describe both goods and services. a. product b. price c. promotion d. place 0.4 points QUESTION 45 1. What is one of the largest factors stressing out marketers these days? a. the pressure to produce more money than R&D b. the pressure to prove they are valuable c. the pressure to increase stock price d. the pressure to show results 0.4 points QUESTION 46 1. Advertising's goal is to enhance a. marketing. b. profit. c. purchases. d. brand image. 0.4 points QUESTION 47 1. When customers interact with technology and machines, the variability of the service encounter is reduced by a. societal norms. b. complexity. c. the customer's preferences. d. the standardization of equipment. 0.4 points QUESTION 48 1. __________ is the strategic use of a brand’s equity where the firm uses the brand’s name to get customers to buy something new. a. House of brands b. Umbrella branding c. Co-branding d. Brand extension 0.4 points QUESTION 49 1. Which is an example of co-branding? a. Krispy Kreme gets a new donut flavor. b. Nike offers golf balls as part of its golf line. c. QuickBooks has its basic software, a version for Macs, another for small business needs, and premier packets for professionals, nonprofits, and retailers. d. Brembo brakes are in Aston Martins. 0.4 points QUESTION 50 1. Determining which segments to target depends on an interplay between __________ issues. a. calculation and estimation b. quantitative and strategic c. qualitative and statistical d. practical and theoretical [Show More]

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