Mkt 421 guide 1 21) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes. A. Market segmentation B. Mass marketing C. Diver

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21) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes. A. Market segmentation B. Mass marketing C. Diversification D. Market positioning

Text of Mkt 421 guide 1 21) ______________ is the process of naming broad product-markets and then...

  • 1. MKT 421 Guide 1 Click Here To Buy The Tutorial1) Predicting what types of bicycles different customers will want and deciding which of thesecustomers the business will try to satisfy are activities a firm should do as part ofA. A command economy.B. Making goods or performing services.C. Marketing.D. Production.2) For Tesla, a new firm that makes an electric sports car, estimating how many competitors willmake electric vehicles and what kinds they will make, is:A. A production activity.B. A part of marketing.C. An example of the micro-macro dilemma.D. One of the universal functions of innovation.3) According to the text, marketing means:A. Selling.B. Advertising.

2. C. Producing and selling.D. Much more than selling and advertising.4) To compete more successfully with its many competitors offering packaged cookies, FamousAmos added its own line of extra chunky premium cookies. This seems to be an effort at:A. Market penetration.B. Product development.C. Combination.D. Market development.5) Professional Dental Supply has been successfully selling dental instruments to dentists forthe past 20 years, and has developed strong customer relations. When looking for newmarketing opportunities, Professional Dental Supply will most likely look first atA. Diversification.B. Product development.C. Market penetration.D. Market development.6) Which of the following statements regarding marketing strategies is FALSE?A. These strategies must meet the needs of target customers, and a firm is likely to get acompetitive advantage if it just meets needs in the same way as some other firm.B. These strategies require decisions about the specific customers the firm will target and themarketing mix the firm will develop to appeal to that target market.C. It is useful to think of the marketing strategy planning process as a narrowing-down process.D. Developing successful marketing strategies does not need to be a hit-or-miss proposition. 3. 7) The marketing mixA. Includes the target marketB. Includes four variablesadvertising, personal selling, customer service, and sales promotion.C. Includes four variablesPeople, Place, Promotion, and Price.D. Helps to organize the marketing strategy decision areas.8) A firms marketing mix decision areas would NOT include:A. PeopleB. ProductC. PromotionD. Price9) Product is NOT concerned with:A. Branding.B. Packaging.C. Quality level.D. Wholesale price.10) When one considers the strategy decisions organized by the four Ps, branding is related topackaging as:A. Production is to marketing.B. Personal selling is to mass selling.C. Branding is to pricing.D. Store location is to sales force selection. 4. 11) Dell, Inc. wants to offer customers televisions in addition to computers. This is a change intheir _____________________A. promotional.B. product.C. pricing.D. personnel.12) Big Fizz Co., a manufacturer of cola-flavored drinks, wants to add packaged fruit juices to itsexisting product line. Big Fizz must make some decisions regarding packaging and branding ofthe fruit juices. These decisions would fall under which variable of the marketing mix?A. PlaceB. PromotionC. PriceD. Product13) A marketing plan is:A. A marketing strategy.B. A marketing strategyplus the time-related details for carrying it out.C. A target market and a related marketing mix.D. A marketing program.14) The main difference between a marketing strategy and a marketing plan is that:A. A marketing plan includes several marketing strategies.B. A marketing strategy provides more detail. 5. C. A marketing strategy omits pricing plans.D. Time-related details are included in a marketing plan.15) Which of the following would probably NOT be in a proposed marketing plan?A. A statement of how frequently the design of the website will be changed.B. Expected sales and profit results.C. A description of the target market and marketing mix.D. A list of what company resources (costs) would be required.16) Marketing strategy planners should recognize that:A. Mass marketing is often very effective and desirable.B. Large firms like General Electric, Target, and Procter & Gamble are too large to aim at clearlydefined markets.C. Target marketing is not limited to small market segments.D. Target markets should not be large and spread out.17) Good marketing strategy planners know that:A. Target marketing does not limit one to small market segments.B. Mass marketing is often very desirable and effectiveC. The terms mass marketing and mass marketer mean basically the same thing.D. Firms like Nabisco and WalMart are too large to aim at clearly defined target markets.18) Target marketing, in contrast to mass marketing,A. Assumes that all customers are basically the same. 6. B. Ignores markets that are large and spread out.C. Focuses on fairly homogeneous market segments.D. Is limited to small market segments.19) Clustering techniques applied to segmenting marketsA. Usually require computers to group people based on data from market research.B. Remove the need for managerial judgment.C. Eliminate the need for marketing managers to specify in advance what dimensions might berelevant for grouping consumers.D. All of the above are true.20) The process of naming broad product-markets and then segmenting them in order to selecttarget markets and develop suitable marketing mixes is called:A. Market segmentation.B. Market development.C. Market research.D. Market penetration.21) ______________ is the process of naming broad product-markets and then segmentingthese broad product-markets in order to select target markets and develop suitable marketingmixes.A. Market segmentationB. Mass marketingC. DiversificationD. Market positioning 7. 22) A ______________ is an organized way of continually gathering and analyzing data to getinformation to help marketing managers make ongoing decisions.A. Marketing modelB. Marketing information systemC. Marketing research departmentD. Marketing research project23) ________________ ________________ utilizes qualitative and quantitative analysisprocedures to help marketing managers make more informed decisions.A. Marketing processing.B. Marketing planning.C. Marketing research.D. Marketing structure.24) Procedures that develop and analyze new information to help marketing managers makedecisions are called:A. Operational planning.B. Strategy planning.C. Marketing research.D. Analytical research.25) The part of the relevant population that is surveyed by a researcher is called the:A. Focal group.B. Representative group.C. Sample. 8. D. Target population.26) One of the major disadvantages of the focus group interview approach is thatA. It is difficult to measure the results objectively.B. Ideas generated by the group cannot be tested later with other research.C. There is no interviewer, so the research questions may not be answered.D. It is difficult to get in-depth information about the research topic.27) When focus group interviews are used in marketing,A. The typical group size is 15 to 20 typical consumers whether online or off-line.B. Each person in the group answers the same questionnaire, to focus the discussion.C. The research conclusions will vary depending on who watches the interview whether onlineor off-line.D. It is primarily as a follow-up to more quantitative research.28) The marketing manager at Massimino & McCarthy, a chain of retail stores that sells mensclothing, is reviewing marketing research data to try to determine if changes in marketingstrategy are needed. Which of the following sources of data would be a secondary data source?A. Reviewing videotapes of a recent focus group.B. Looking through the companys marketing information system to see past sales trends.C. Spending time in stores observing customers behavior.D. Making phone calls to some of the best customers to learn their interest in a new line ofclothing. 9. 29) A small manufacturing firm has just experienced a rapid drop in sales. The marketingmanager thinks that he knows what the problem is and has been carefully analyzing secondarydata to check his thinking. His next step should be to:A. Develop a formal research project to gather primary data.B. Conduct an experiment.C. Develop a hypothesis and predict the future behavior of sales.D. Conduct informal discussion with outsiders, including intermediaries, to see if he hascorrectly defined the problem.30) The observing method in marketing research:A. May require customers to change their normal shopping behavior.B. Is not suitable for obtaining primary data.C. Uses personal interviews.D. Is used to gather data without consumers being influenced by the process.31) Market segmentation:A. Assumes that most submarkets can be satisfied by the same marketing mix.B. Tries to identify homogeneous submarkets within a product-market.C. Means the same thing as marketing strategy planning.D. Is the same thing as positioning.32) Which is the first step in market segmentation?A. Clustering people with similar needs into a market segment.B. Evaluating market segments to determine if they are large enough.C. Finding one or two demographic characteristics to divide up the whole mass market. 10. D. Naming a broad product-market of interest to the firm.33) The first step in market segmentation should be:A. Evaluating what segment(s) you currently serve.B. Defining some broad product-markets where you may be able to operate profitably.C. Deciding what new product you could develop.D. Finding a demographic group likely to use your products.34) Which of the following is NOT one of the texts product life cycle stages?A. Market penetrationB. Market growthC. Market maturityD. Market introduction35) Which of the following is a DEMOGRAPHIC segmenting dimension?A. Brand familiarity.B. Family life cycle.C. Rate of use.D. Type of problem solving.36) The product life cycle has four stages. Which of the following is NOT one of these?A. Market growthB. Economic competitionC. Market introd