BUSN 319 Week 4 : Satisfying Marketing Opportunities: Products and Services – Quiz

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1. (TCO 1) The broad goal of _____ is to identify and define both marketing problems and opportunities and to generate and improve marketing actions.(Points : 3)advertisingsales promotionpublicitymarketing researchtactical support 

2. (TCO 1) A decision is (Points : 3)a conscious choice to select the only possible alternative.a conscious choice between one positive alternative and all other negative alternatives.a conscious choice from among two or more alternatives.an unconscious choice of the alternative that presents the least amount of risk.an unconscious choice of the alternative that presents the greatest possible assurance of success. 

3. (TCO 1) Research objectives are the (Points : 3)restrictions placed on potential solutions by the nature of the research.criteria or standards used in evaluating proposed solutions to the research.goals the decision maker seeks to achieve in conducting the marketing research.conjecture about factors or situations that simplify the problem enough to allow it to be solved using the proposed research.specific goals an organization seeks to achieve and by which it can measure its performance. 

4. (TCO 1) A test market is an example of which type of marketing research?(Points : 3)

DescriptiveExplanatoryExploratoryCausalConcrete 

5. (TCO 1) When Home Depot entered the Quebec market, 2% of the population was aware of the retail chain. To determine how effective its advertising was in the first 18 months of its presence in the Canadian province, it conducted awareness research for a second time. Prior to conducting the research, it was decided that if at least 50% of the population was aware of the Home Depot brand, it would continue its present advertising program. This is an example of a(n) (Points : 3)objective.constraint.assumption.measure of success.barrier to entry. 

6. (TCO 3) In the world of marketing, _____ are ideas about products or services.(Points : 3)conceptsnotionsperceptionsimpressionstheories 

7. (TCO 1) Facts and figures that are newly collected for a project at hand are called (Points : 3)internal secondary data.external secondary data.primary data.observational data.tertiary data. 

8. (TCO 3) Market segmentation stresses _____ and relating needs and benefits to specific marketing actions. (Points : 3)grouping people randomly in a marketmarket sectioninggrouping people according to similar needssplitting people randomly between marketsproduct-based market development 

9. (TCO 3) To create a _____ strategy, nikeid.com allows customers to visit its website and design a sneaker to their personal specifications. (Points : 3)product samplingproduct extrapolationmass customizationusage segmentationpsychographic segmentation 

10. (TCO 6) The five key steps in segmenting and targeting markets (Points : 3)help identify market needs.provide guidance to reposition products.help create ideas for new products.link market needs of customers to the organization’s marketing program.are required by law. 

11. (TCO 6) Which of the following is not a criterion used in forming segments? (Points : 3)Potential for increased profitSimilarity of needs of potential buyers within a segmentCompetitive positionPotential of marketing action to reach a segmentSimplicity and cost of assigning potential buyers to segments 

12. (TCOs 3, 5, and 6) A market-product grid is a framework to relate the _____ to products offered or potential marketing actions by an organization. (Points : 3)estimated expenses for products soldtotal anticipated revenuetotal anticipated profitmarket share compared to closest competitormarket segments of potential buyers 

13. (TCO 6) Which of the following is a criterion used for selecting a target segment? (Points : 3)Potential for increased profitSimilarity of needs of potential buyers within a segmentDifference of needs of buyers among segmentsPotential of a marketing action to reach a segmentCompetitive position 

14. (TCOs 3, 5, and 6) What does the term product positioning refer to? (Points : 3)A careful analysis of cross tabulations

Shelf locations in major chain, grocery, and department storesGeographic segmentation, often within major metropolitan areasThe place a product offering occupies in consumers’ minds on important attributesAn old and outdated concept no longer worthy of consideration in marketing planning 

15. (TCOs 3, 5, and 6) Which of the following data are collected from consumers to develop a perceptual map for a particular product? (Points : 3)A listing of all prospective brands and productsManagerial judgments about how consumers perceive productsIdentification of the important attributes for a product classRank order of the ratings of an existing brand’s preference relative to its competitorsAll of the above 

16. (TCOs 1, 3, 5, and 6) A _____ is the marketing term for a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value.(Points : 3)productmarket decisionmarket factorutility bundleprocess 

17. (TCOs 1, 3, 5, and 6) Which of the following is NOT an attribute of a new product? (Points : 3)The product is less than 6 months old.The product requires a significant degree of new learning by consumers.The product is new in legal terms.The product is new from a competitor’s perspective.The product is new from the organization’s perspective. 

18. (TCOs 1, 3, 5, and 6) Suppose that you are a marketing consultant hired to analyze why a new disposable mop did not sell, despite the fact that there are several very successful disposable mops on the market. Which of the following would most likely be the reason for the mop’s failure? (Points : 3)Poor product qualityInsignificant point of difference compared to other disposable mopsBad timingPoor execution of the marketing mixAll of the above 

19. (TCOs 1, 3, 5, and 6) A company defines the role for new products in terms of the firm’s overall corporate objectives in the _____ stage of the new-product process. (Points : 3)idea generationdistinctive competencynew-product strategy developmentbusiness missionstrategic management process 

20. (TCOs 3 and 6) When audiences are allowed to preview actual movies, such as Pretty Woman and National Treasure: Book of Secrets, before they are released to the general public, it is a part of the _____ stage of the new-product process. (Points : 3)market testingbusiness analysiscommercializationscreening and evaluationconcept testing 

21. (TCOs 1, 3, 5, and 6) A product in the introduction stage of the product life cycle should have which of the following marketing objectives? (Points : 3)Gain awareness and stimulate trial.Stress differentiation.Maintain brand loyalty.Gain as much distribution as possible.Reveal a marketing niche. 

22. (TCOs 1, 3, 5, and 6) When the National Cattlemen’s Beef Association advertises “Beef, It’s What’s for Dinner,” it is trying to stimulate _____ demand.(Points : 3)selectiveprimaryderivedgenericsecondary 

23. (TCOs 1, 3, 5, and 6) The stage in the product life cycle labeled C in the below figure is called(Points : 3)introduction.maturity.growth.diversification.decline.

 

24. (TCOs 1, 3, 5, and 6) Which of the following is a characteristic of the growth stage of the product life cycle?(Points : 3)Advertising emphasis switches to primary demand.There is a growing proportion of repeat purchasers to initial purchasers.Product features remain unchanged.Profit margins increase as sales increase.All of the above 

25. (TCOs 1, 3, 5, and 6) The apple that appears on every Apple computer product is an example of a (Points : 3)copyright.trade name.service mark.brand name.generic brand.

 

 

 

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