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MKT 331 Chapters 3 and 4 Test_100% Correct Answers Chapters 3 and 4 Test Due May 23 at 9:59pm Points 100 Questions 40 Available after May 17 at 6am Time Limit 90 Minutes Instructions Attempt Hist... ory Attempt Time Score LATEST Attempt 1 64 minutes 97.5 out of 100 * Score for this quiz: 97.5 out of 100 * Submitted May 18 at 10:50am This attempt took 64 minutes. This quiz/test consist of 40 questions. You will have two attempts and will be timed for 90 minutes. Question 1 2.5 / 2.5 pts The absolute limit of company demand is the market potential; the two would be equal if the company captured 100 percent of the market. Correct! Correct! True False5/18/2020 Chapters 3 and 4 Test: Managerial Marketing OGMT447 https://voorhees.instructure.com/courses/1197/quizzes/2477 2/21 Question 2 2.5 / 2.5 pts Prestige LLC, a small company that manufactures specialty cereals and energy bars, wants to launch a "green marketing" program in response to heightened consumer awareness about environmental issues. What should the company do to maximize the program's chances of being successful? demonstrate that the products will benefit both customers and the society in the long term Correct! Correct! emphasize benefits to the consumer rather than environmental benefits focus on the efforts and costs incurred by the company to bring these "green" products to consumers engage in "greenwashing" to highlight the environmental benefits of the product explain the rules and regulations laid out by governmental agencies to protect the environment Question 3 2.5 / 2.5 pts Each society contains ________, groups with shared values emerging from their special life experiences or circumstances.5/18/2020 Chapters 3 and 4 Test: Managerial Marketing OGMT447 https://voorhees.instructure.com/courses/1197/quizzes/2477 3/21 stakeholders cliques consumer bundles Correct! Correct! subcultures behavioral niches Question 4 2.5 / 2.5 pts During a recession, the market demand curve, which is a function of marketing expenditure, ________. shifts upward becomes vertical remains unaffected Correct! Correct! shifts downward slopes downward Question 5 2.5 / 2.5 pts Which of the following is the largest contributor to global warming, contributing almost a quarter of the carbon dioxide in the environment? transportation5/18/2020 Chapters 3 and 4 Test: Managerial Marketing OGMT447 https://voorhees.instructure.com/courses/1197/quizzes/2477 4/21 industrial production facilities Correct! Correct! electrical power plants aerosol cans rural cooking fires Question 6 Not yet graded / 2.5 pts Your Answer: Briefly describe the methods of forecasting future demand on the basis of past sales. Survey of buyer’s inventions or the user’s expectation method - anticipating what buyers are likely to do under a given set of conditions Collective opinion or sales force composite method - sales representatives to estimate their future sales Experts’ opinions - companies buy economic and industry forecasts from well-known economic-forecasting firms that have more data available and more forecasting expertise Market test method - help forecast new-product sales or established product sales in a new distribution channel or territory. Trend projection method - Time-series analysis breaks past time series into four components (trend, cycle, seasonal, and erratic) and projects them into the future.5/18/2020 Chapters 3 and 4 Test: Managerial Marketing OGMT447 https://voorhees.instructure.com/courses/1197/quizzes/2477 5/21 The methods are: 1. Time-series analysis, that breaks past time series into four components (trend, cycle, seasonal, and erratic) and projects them into the future 2. Exponential smoothing, that projects the next period's sales by combining an average of past sales and the most recent sales, giving more weight to the latter 3. Statistical demand analysis, which measures the impact of a set of causal factors (such as income, marketing expenditures, and price) on the sales level 4. Econometric analysis, which builds sets of equations that describe a system and statistically derives the different parameters that make up the equations statistically. Question 7 2.5 / 2.5 pts The available market is the set of consumers who have interest, income, and access to a particular offer. Correct! Correct! True False Question 8 2.5 / 2.5 pts Suppose an individual buyer purchases three pairs of shoes each year at $50 each pair and that there are 50 million such consumers in the economy. Compute the total market potential for shoes. $5,000 million5/18/2020 Chapters 3 and 4 Test: Managerial Marketing OGMT447 https://voorhees.instructure.com/courses/1197/quizzes/2477 6/21 $6,500 million Correct! Correct! $7,500 million $10,000 million $75 billion Question 9 2.5 / 2.5 pts ________ measures the impact of a set of causal factors (such as income, marketing expenditures, and price) on the sales level. Time-series analysis Correct! Correct! Statistical demand analysis Econometric analysis Cost effectiveness analysis Exponential smoothing Question 10 2.5 / 2.5 pts Firms find "reverse innovation" advantage by introducing a commodity in a ________. developed country and then distributing it globally developing country and then distributing it in other developing countries5/18/2020 Chapters 3 and 4 Test: Managerial Marketing OGMT447 https://voorhees.instructure.com/courses/1197/quizzes/2477 7/21 Correct! Correct! developing country and then distributing it globally developed country and then distributing it in developing countries developed country and then distributing it in other developed countries Question 11 2.5 / 2.5 pts Jeanine would like to own a Mercedes but is unable to afford one at this time. Jeanine is part of the ________ market for this product- - - - - [Show More]

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