Mkt 421 guide 6 20) ______________ is the process of naming broad product-markets and then...
out of 20
Mkt 421 guide 6 20) ______________ 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 positioning B. Market segmentation C. M
20) ______________ 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 positioning B. Market segmentation C. Mass marketing D. Diversification
1. MKT 421 Guide 6 Click Here To Buy The Tutorial1) According to the text, marketing means:A. Much more than selling and advertising.B. Selling.C. Producing and selling.D. Advertising.2) Which of the following statements best describes the modern view ofmarketing?A. The job of marketing is to get rid of whatever the company is producing.B. Marketing is concerned with generating a single exchange between a firm anda customer.C. Marketing begins with anticipating potential customer needs.D. Marketing should take over production, accounting, and financial serviceswithin a firm.3) Predicting what types of bicycles different customers will want and decidingwhich of these customers the business will try to satisfy are activities a firmshould do as part of
2. A. Production.B. Marketing.C. Making goods or performing services.D. A command economy.4) To compete more successfully with its many competitors offering packagedcookies, Famous Amos added its own line of extra chunky premium cookies. Thisseems to be an effort at:A. Combination.B. Market development.C. Product development.D. Market penetration.5) Professional Dental Supply has been successfully selling dental instruments todentists for the past 20 years, and has developed strong customer relations.When looking for new marketing opportunities, Professional Dental Supply willmost likely look first atA. Market penetration.B. Market development.C. Product development.D. Diversification.6) Which of the following statements regarding marketing strategies is FALSE?
3. A. It is useful to think of the marketing strategy planning process as a narrowing-down process.B. Developing successful marketing strategies does not need to be a hit-or-missproposition.C. These strategies require decisions about the specific customers the firm willtarget and the marketing mix the firm will develop to appeal to that targetmarket.D. These strategies must meet the needs of target customers, and a firm is likelyto get a competitive advantage if it just meets needs in the same way as someother firm.7) The four Ps of a marketing mix are:A. Production, Personnel, Price, and Physical DistributionB. Product, Price, Promotion, and ProfitC. Product, Place, Promotion, and PriceD. Promotion, Production, Price, and People8) Which of the following is true?A. The product P in the marketing mix stands for only physical goods.B. The product P in the marketing mix stands for only tangible merchandise.C. The product P in the marketing mix stands for both physical goods and tangibleD. The product P in the marketing mix stands for both physical goods andservices.
4. 9) Product is NOT concerned with:A. Quality level.B. Wholesale price.C. Packaging.D. Branding.10) When one considers the strategy decisions organized by the four Ps, brandingis related to packaging as:A. Branding is to pricing.B. Personal selling is to mass selling.C. Store location is to sales force selection.D. Production is to marketing.11) Big Fizz Co., a manufacturer of cola-flavored drinks, wants to add packagedfruit juices to its existing product line. Big Fizz must make some decisionsregarding packaging and branding of the fruit juices. These decisions would fallunder which variable of the marketing mix?A. ProductB. PriceC. PromotionD. Place
5. 12) The ______ area of the marketing mix is concerned with decisions aboutgetting the right product to the target market when and where it is wanted.A. ProductB. PlaceC. PromotionD. People13) The main difference between a marketing strategy and a marketing plan isthat:A. Time-related details are included in a marketing plan.B. A marketing strategy omits pricing plans.C. A marketing strategy provides more detail.D. A marketing plan includes several marketing strategies.14) A marketing plan is:A. A marketing program.B. A target market and a related marketing mix.C. A marketing strategyplus the time-related details for carrying it out.D. A marketing strategy.15) Which of the following is part of a complete marketing plan?A. Competitors marketing strategies.
6. B. What company resources (costs) are required and at what rate.C. How different marketing mixes (for different target markets) relate to eachother.D. All of these.16) Target marketing, in contrast to mass marketing,A. Is limited to small market segments.B. Focuses on fairly homogeneous market segments.C. Ignores markets that are large and spread out.D. Assumes that all customers are basically the same.17) Marketing strategy planners should recognize that:A. Target markets should not be large and spread out.B. Target marketing is not limited to small market segments.C. Large firms like General Electric, Target, and Procter & Gamble are too large toaim at clearly defined markets.D. Mass marketing is often very effective and desirable.18) Good marketing strategy planners know that:A. Firms like Nabisco and WalMart are too large to aim at clearly defined targetmarkets.B. The terms mass marketing and mass marketer mean basically the same thing.C. Mass marketing is often very desirable and effective.
7. D. Target marketing does not limit one to small market segments.19) The process of naming broad product-markets and then segmenting them inorder to select target markets and develop suitable marketing mixes is called:A. Market penetration.B. Market research.C. Market development.D. Market segmentation.20) ______________ is the process of naming broad product-markets and thensegmenting these broad product-markets in order to select target markets anddevelop suitable marketing mixes.A. Market positioningB. Market segmentationC. Mass marketingD. Diversification21) Clustering techniques applied to segmenting marketsA. Usually require computers to group people based on data from marketresearch.B. Remove the need for managerial judgment.C. Eliminate the need for marketing managers to specify in advance whatdimensions might be relevant for grouping consumers.
8. D. All of the above are true.22) ________________ ________________ utilizes qualitative and quantitativeanalysis procedures to help marketing managers make more informed decisions.A. Marketing planning.B. Marketing processing.C. Marketing structure.D. Marketing research.23) Procedures that develop and analyze new information to help marketingmanagers make decisions are called:A. Strategy planning.B. Operational planning.C. Analytical research.D. Marketing research.24) A ______________ is an organized way of continually gathering and analyzingdata to get information to help marketing managers make ongoing decisions.A. Marketing information systemB. Marketing modelC. Marketing research projectD. Marketing research department
9. 25) One of the major disadvantages of the focus group interview approach is thatA. Ideas generated by the group cannot be tested later with other research.B. It is difficult to measure the results objectively.C. It is difficult to get in-depth information about the research topic.D. There is no interviewer, so the research questions may not be answered.26) The part of the relevant population that is surveyed by a researcher is calledthe:A. Representative group.B. Focal group.C. Target population.D. Sample.27) Marketing research which seeks structured responses that can be summarizedis called:A. Focus group research.B. Quantitative research.C. Qualitative research.D. Situation analysis research.28) Which of the following statements about consumer products is true?A. Convenience products are those that customers want to buy at the lowestpossible price.
10. B. Shopping products are those products for which customers usually want to useroutinized buying behavior.C. Specialty products are those that customers usually are least willing to searchfor.D. Unsought products are not shopped for at all.29) The observing method in marketing research:A. Uses personal interviews.B. May require customers to change their normal shopping behavior.C. Is used to gather data without consumers being influenced by the process.D. Is not suitable for obtaining primary data.30) A small manufacturing firm has just experienced a rapid drop in sales. Themarketing manager thinks that he knows what the problem is and has beencarefully analyzing secondary data to check his thinking. His next step should beto:A. Conduct an experiment.B. Develop a formal research project to gather primary data.C. Conduct informal discussion with outsiders, including intermediaries, to see ifhe has correctly defined the problem.D. Develop a hypothesis and predict the future behavior of sales.31) Which is the first step in market segmentatio