MKTG 380 TEST 1 – Flashcards
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1. Banks have recently begun to install ATMs in supermarkets to address customers' wants for instant cash when they go shopping. What type of utility are banks creating for customers? A. Form B. Possession C. Place D. Ownership
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C
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2. A company produces a high-quality product, with a maximum monthly output of 10,000 units. Production levels are constant and the company relies on its marketing department to find customers for its output. This approach is consistent with which era in marketing history? A. Production era B. Relationship era C. Marketing era D. Sales era
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D
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3. You remember my research trip to the country of Gabon in Sub-Saharan Africa where I visited Albert Schweitzer Hospital in the remote village of Lambarene, which is located in a jungle. Applying Maslow's theory of the hierarchy of needs, at which stage was Dr. Schweitzer when he decided to move from Germany to Lambarene in order to treat the impoverished inhabitants of Central Gabon free of charge? A. Physiological needs B. Safety needs C. Need for belongingness (love) D. Esteem needs E. Self Actualization needs
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E
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4. Indigo Ltd. wanted to increase its customers by applying the marketing concept. Which of the following would be an appropriate way to apply this approach? A. Maximize production of goods B. Focus on meeting the needs of the consumers C. Offer more product variety than competitors D. Produce high quality goods
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B
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5. If a company such as J.B. Trucking wanted to avoid marketing myopia, it should define its business as: A. a provider of transportation solutions B. a trucking company C. a materials handling company D. a freight hauling firm
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A
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6. As I have shared my world research experiences with you, I mentioned that some time ago when I was in London the UK Parliament enacted a sales tax of 40% on the sales of every radio and television set. The new sales tax would have seriously curbed the sales of these units and would have put many manufacturers and distributors out of business. The British marketers' response strategy was to: A. Increase promotional campaigns in order to offset the impact of sales taxes B. Offer a new and more convenient payment plan C. Add accessories without additional charges D. Offer long-term lease programs which bypassed the sales tax
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D
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7. State bureaus of tourism and conventions typically engage in _____ marketing. a.organization b.person c.place d.cause
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C
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8. Phoebe was asked to bring a can of food for the local food bank as the "price of admission" for a certain ceremony. This is an example of _____. a.person marketing b.organization marketing c.ownership utility d.cause marketing
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D
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9. As an official sponsor of the Olympics, the Coca-Cola Company engages in _____ marketing. a.place b.event c.person d.organization
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B
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10. Many hotel chains offer free stays and other perks to repeat customers. This is an example of: A.relationship marketing. B.transaction-based marketing. C.interactive marketing. D.social marketing.
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A
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11. Sally Myers, head of marketing at Sally's Salon, serviced six new customers over the past two weeks. Through a feedback form, Sally learnt that all of them had acted upon the opinions of their friends and family members. What Sally encountered is an example of: A.transaction-based marketing. B.sales orientation. C.marketing myopia. D.buzz marketing.
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D
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12. A gaming corporation and a mobile manufacturer work together to develop unique games which are made available on the applications of the phones. This is an example of: a.an exchange function. b.marketing research. c.social marketing. d.a strategic alliance.
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D
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13. William Cutlery Inc. sells its products at its stores and via door-to-door sales. Selling, order taking, delivery, and limited customer service are all conducted by the drivers. Which two marketing functions overlap as a result of the drivers' required responsibilities? a.Facilitation and distribution b.Exchange and facilitating c.Distribution and exchange d.Exchange and financing
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C
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14. Product lines, pricing decisions, selections of appropriate distribution channels, and decisions relating to promotional campaigns are A. fixed and unchanging B. independent of the impact of external factors C. dynamic in today's boundaryless business environment D. determined from a purely retrospective viewpoint
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C
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15. Relationship marketing can help a company: A. create long-term and cost-effective links with individual customers and suppliers for mutual benefit B. reduce its strategic planning effort since the need for such planning is greatly diminished by relationship marketing C. locate more effective media for use in advertising and mass marketing D. eliminate the strategic planning process and move into tactical plans directly.
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A
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16. ADA Inc. stopped its production of oral care goods after determining apparel production to be its new primary objective. This is a direct result of the ____ planning process at ADA Inc. A. tactical B. research C. strategic D. economic
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C
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17. An event management company decided to use radio advertising in order to promote an upcoming music festival. The executives of the company suggested various activities that could be used for the radio campaign. These activities are a part of the company's A. tactical planning efforts B. standard operating procedures C. weekly scheduling plans D. unit-wise budgeting plans
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A
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18. Promotional schemes like frequent shopper programs provide incentives to loyal buyers. Considering Porter's Five Forces model, such offers will: A. reduce the threat of new entrants B. decrease the rivalry among competitors C. decrease the bargaining power of the supplier D. increase the threat of substitute products
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A
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19. Business strategies are impacted by the widespread use of the Internet. Which of the following is true with respect to its impact? A. The Internet has eliminated all forms of substitution threats. B. The Internet has reduced barriers to market entry C. The Internet has reduced the bargaining power of end-users D. The Internet has reduced consumer awareness about the differences among competitors
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B
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20. Which of the following conditions would lead a company's marketers to find a new market, change prices, or compete in other ways to maintain an advantage? A. When the bargaining power of suppliers is low B. When the bargaining power of buyers is low C. When the threat of substitute products is high D. When the threat of new entrants is low
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C
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21. Which of the following statements is indicative of a second mover strategy? A. Entering new markets with existing products B. Making significant innovations that turn old products into new ones C. Observing closely the innovations of first movers then improving on them D. Entering new markets with new products before any other entrants
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C
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22. An example of a firm's strength discovered by a SWOT analysis might be: A. ownership of valuable patents B. a narrow current product line C. Changing buyer tastes in the marketplace D. Existing government policies favoring the industry
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A
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23. An example of a threat to a firm discovered by a SWOT analysis might be: A. the presence of cost advantages due to advanced technology B. the change to acquire firms with the needed technology C. the entry of new competitors in the industry D. the narrow product line produced by the firm
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C
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24. Maxwell has been promoted to an upper-level management position at QVC. He will be involved in matters relating to transportation media, order processing, and development of marketing channels. Maxwell is involved in developing ____ strategies for the marketing team. A. product B. distribution C. promotional D. test marketing
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B
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25. As chief executive of Stalwart Shipfitting Company, a diversified producer of marine supplies and equipment, John needs a method for spotting promising product lines that warrant commitment of additional resources, as well as those that should be removed from the firm's product portfolio. A good choice for this firm at this stage would be to use: A. computer models B. strategic business units C. a marketing audit D. an industry analysis
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B
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26. Monitoring local newpapers and television news shows for general information relating to a firm's business would be an example of: A. environmental scanning B. economic analysis C. socio-political manipulation D. technological development
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A
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27. To acquire regional expertise and comply with the local laws of a country, international firms often find it desirable to: A. form political action committees B. export goods and services to that country C. form strategic alliances with domestic companies in that country D. relocate manufacturing facilities to that market
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C
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28. Corea Inc., a pharmaceutical company, is involved in the research, development, manufacture, and marketing of prescription medicines. A new drug developed by them has been awarded patent rights by the U.S. Food and Drug Administration. The patent grants them exclusive rights to manufacture and market the drug for 3 years. Based on this information, which of the following statements will be true? A. Corea Inc. will operate in a market with monopolistic competition B. Corea Inc. will have exclusive rights to produce and market the product forever C. Corea Inc. will operate in a perfectly competitive market D. Corea Inc. will have temporary monopoly in the market for this drug.
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D
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29. The airline industry in a particular county has only four dominant players. Large capital investments and government regulations often prevent new players from entering the market. Based on this information, the structure of the airline industry in this country is ____. A. a duopoly B. perfectly competitive C. an oligopoly D. a monopoly
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C
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30. Lockhead Martin won the largest military contract ever by proving it could be the first company to develop and fly a new model plane. This illustrates the importance of ____. A. rapid prototyping of new products B. Demarketing C.time-based competition D. the legal environment
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C
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31. Artisanal Brands, Inc. markets and distributes a line of specialty, artisanal, and farmstead cheese products in the United States. The company gives bulk discounts to their wholesalers. The result is that smaller stores are getting the products at a higher rate as compared to supermarkets and larger shopping chains. These stores will be protected under the ____. A. Sherman Antitrust Act B. Robinson-Patman Act C. Wheeler-Lea Act D. Cellar-Kefauver Act
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B
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32. In times of prosperity, marketers respond to consumer buying behavior by: A. launching special value-priced products that are likely to appeal to cost-conscious buyers B. holding down costs and offering superior services at lower prices C. lowering prices and increasing promotions that include special offers to stimulate demand D. offering new products, increasing their promotional efforts, and expanding distribution
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D
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33. Which of the following is a trend usually observed during an economic depression? A. Consumers are willing to spend more for premium versions of well-known brands B. Consumers have money to spend, but caution ofter restrains their willingness to buy C. Consumers focus on more basic, functional products that carry lower price tags D. Businesses offer new products, expand distribution, and raise prices to widen profit margins
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C
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34. Which of the following usually indicates a strong economy? A. Growth in services such as banking and restaurants B. Cautious spending by businesses and consumers C. A focus on basic, functional products with lower price tags D. Increase in purchasing power coupled with uncertain consumer demand
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A
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35. News reports from Zimbabwe indicate that a small pack of locally produced coffee beans costs approximately 1 billion Zimbabwean dollars, an amount that would have bought 60 new cars less than ten years ago in the same county. It can be surmised that Zimbabwe is experiencing extremely high levels of ____ which has spiraled out of control in the past ten years. A. growth B. stagflation C. deflation D. Inflation
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D
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36. Bank of Norasmus is one of the few banks that provides credit to disadvantaged communities. These loans are used for housing, small business creation, and education or personal development. Such and organization is said to be involved in ____. A. credit based investing B. socially responsible investing C. sustainability D. environmental management
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B
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37. Jen's Dairy markets milk and other milk products that are purely organic and grown using sustainable farming methods. They also have a program under which they recycle used cans of their products. These marketing strategies employed by Jen's Dairy show that they are involved in ____. A. demarketing B. green marketing C. socially responsible marketing D. competitive marketing
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B
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38. Jorge plans to buy a new car and discusses the purchase with his parents. Their influence on his buying decision is considered: A. impersonal B. interpersonal C. personal D. institutional
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B
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39. Which of the following is a core value emphasized by the American culture? A. Collectivism B. High power distance C. Aversion to consumerism D. Efficiency
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D
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40. The Asch phenomenon states that individuals will: A. follow their personal influences more closely than any other influence B. Conform to majority rule, even if it contradicts their beliefs C. purchase products that the majority deems unfit D. avoid problem-solving behavior for all purchases
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B
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41. If is crucial for marketers to focus their marketing strategies on opinion leaders in a group as opinion leaders: A. limit their purchases to the products and services typical of the social class they belong to, rather than imitating the reference group B. represent the only medium to carry information about products to general public. C. Represent the trendsetters who purchase products before others in the group and then influence the buying decisions of other group members. D. possess the highest purchasing power in a group
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C
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42. A _____ role is typically seen in purchase of products such as garden supplies and electronic equipments. A. wife-dominant B. syncratic C. husband-dominant D. automonic
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C
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43. A newly married couple is looking to rent an apartment. This decision is most likely to be: A. syncratic b. made by the husband c. made by the wife as she will manage the household d. autocratic
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A
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44. Helene made sure that her company car was equipped with OnStar devices in case she ever has car trouble or gets lost while traveling between appointments. Which level of Maslow's hierarchy of needs is Helene addressing? A. Social needs B. Safety needs C. Esteem needs D. Self-actualization needs
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B
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45. Which of the following products is aimed at satisfying the esteem needs of people? A. basic goods. B. cleaning products C. Auto safety features D. luxury watch
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D
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46. Which of the following is a low-involvement product? A. Cars B. Laptops C. Stationary D. Jewelry
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C
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47. During the search step of the consumer decision process, the consumer: A. realizes that it is time to make a change from the present situation B. develops a set of evaluative criteria to guide the purchase decision C. begins to notice favorable word-of-mouth communication about the product D. gathers information about the attainment of a desired state of affairs
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D
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48. Marketers can influence the outcome of the evaluation stage of the consumer purchase decision process by: A. attempting to convince consumers that certain attributes are more important than others in deciding which product to buy from among an array of them. B. identifying which evaluative criteria are important to the individual, and pointing out which brand best meets those criteria. C. trying to get the customer to reduce the size of the evoked set to exclude many of the choices. D. attempting to convince the consumer to spend more than what was budgeted for the purchase to acquire more features they might prefer.
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B
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49. Trevor Miguel, a Mexican national, is relocating to America. He is in search of a house and is following up closely with the realtor and his agents. Trevor would be involved in which of the consumer problem-solving behaviors? A. Routinized response behavior B. Variety-seeking buying behavior C. Extended problem solving D. Limited problem solving
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C
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50. The determination of whether pencils are consumer products or business products is based on: A. the purpose for which the pencils are purchased B. the number of pencils purchased C. the place where the pencils are purchased D. the total price paid for the pencils.
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A
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51. Which of the following is a basic requirement for effective market segmentation? A. The firm must avoid focusing on consumer-dependent variable, such as discretionary income, while conducting market segmentation. B. The market segment must present measurable purchasing power and size. C. The company must expand beyond its marketing capabilities to capture those market segments that have reached the maturity stage in the product life cycle. D.The company must target a large number of small market segments so that they can develop effective strategies to appeal to them.
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B
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52. The Fayettevill-Springdale-Rogers region of Arkansas has approximately 340,000 people. Fayetteville is an urban center and it alone has a population of 60,000. The Fayetteville-Springdale-Rogers region would be classified as a: A. consolidated metropolitan statistical area (CMSA) B. primary metropolitan region (PMR) C. metropolitan statistical area (MSA) D. micropolitan statistical area (uSA)
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C
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53. Japanese automaker, Subaru, generates more than half of its sales in just four states (Alaska, Colorado, Maine, and Washington). These states constitute Subaru's: A. primary market B. core region C. secondary market D. capital region
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B
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54. The cohort effect describes: A. why members of the same psychographic group decide to vote the same way and have a lot of similarities in their choices. B. how Generation X uses its financial power to influence product trends, and gets closely followed by the marketers C. the effect of demographic characteristics in analyzing purchase habits, product usage rates, and brand preference D. the tendency of members of a generation to be influenced and bound together by events occurring during their key formative years.
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D
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55. The group born between 1968 and 1979, now generally in their early 30s to early 40s, often are referred to as ___. A. Baby boomers B. teenagers C. seniors D. Generation X
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D
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56. A young single person setting up an apartment for the first time is most likely to be a good prospect for: A. expensive furnishings B. luxury cars, personalized gifts and power tools C. small home appliances such as coffee makers and toasters D. health care products and insurance policies
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C
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57. One of the reasons cited by the U.S. Department of Commerce for the trend toward smaller households is: A. young people's tendency to marry early B. the increase in the number of same-sex couples C. the low cost of living D. the frequency of divorce
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D
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58. Five years ago, Joshua spent 28 percent of his $45,000 yearly income on his bachelor apartment. Today, Joshua is earning $60,000 annually. According to Engel's laws, the percentage of income he will spend on his new apartment will be: A. more than 70 percent B. the same as it was back then -- about 28 percent C. about 50 percent D. less than 10 percent
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B
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59. Segmentation by benefits sought is a product-related segmentation approach that: A. determines the marketer's effectiveness in statisfying the consumer B. measures the brand loyalty and consumer-perception C. re-evaluates customer reactions post-consumption D. focuses on the attributes that people seek in a product
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D
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60. A consumer goods company segments its markets on the basis of purchase patterns of their customers. The company groups its consumers who regularly buy their product into heavy, moderate, and light users, and nonusers. This segmentation approach is an example of ____. A. segmentation by benefits sought B. geographic segmentation C. segmentation by usage rates D. distributive segmentation
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C
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61. Undifferentiated marketing is also called ____. A. societal marketing B. mirco marketing C. concentrated marketing D. mass marketing
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D
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62. Which of the following statements is true of differentiated marketing? A. A company practicing differentiated marketing attempts to satisfy everyone in the market with one standard product. B. As compared to undifferentiated marketing, differentiated marketing leads to lower inventory and promotional cost C. Differentiated marketing approach can appeal to a small company that lacks the financial resources of its competitors. D. Differentiated marketing helps a company to diversify and reach new customers.
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D
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63. Which of the following the earliest method used for gathering marketing information? A. Written testimonials received from purchasers of a firm's products. B. Email survey conducted by research professionals C. Telephone surveys conducted to assess household preferences D. Delphi technique
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A
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64. Douglas Knowles & Howe, a marketing research firm, contracts with clients to conduct complete marketing research projects, including telephone and online interviews. DK&H is a ____. A. syndicated service B. limited service C. full-service research supplier D. customer relationship management firm
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C
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65. Walmart is evaluating its performance records of the previous years that are stored in its database. In addition to this, the company is also evaluating its previous year invoices. This evaluation process carried out by firms is called ____. A. sales analysis B. financial iteration C. market capitalization D. interpretative research
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A
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66. Kate believes the reason the sales of one of her company's products has fallen is due to a price increase. She cites sales from the previous year to the same customers as evidence of declining sales. Kate is: A. developing a research design B. formulating a hypothesis C. identifying a symptom D. conducting exploratory research
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B
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67. Which of the following is true of secondary data used in marketing research? A. It is the data collected for a specific market study B. It provides richer and more detailed information compared to primary data C. It is usually collected and compiled by the investigator conducting the study D. It requires less time and is less expensive to gather.
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D
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68. Which of the following can be regarded as external data? A. Sales force activity reports compiled by the sales manager B. Accounting data obtained from the financial statements C. Information obtained from a syndicated research service D. Product performance reviews made by the engineering department
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C
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69. In the context of the sampling process, the universe is also known as the ______. A.stratified group B. population C. cluster D. quota
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B
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70. Which of the following is a probability sample? A. stratified sample B. quota sample C. convenience sample
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A
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71. Erica is a marketing researcher involved in improving retail store layouts. Erica would like to know the order in which the various types of products are purchased by the customers. Erica also wants to find out what type of assistance is required by the customers while purchasing products. The best method for Erica to collect this data would be by: A. observation B. telephonic surveys C. voluntary mail-back questionnaires D. Delphi technique
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A
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72. Which of the following is true of focus groups used by marketers to gather primary data? A. They elicit information from the customers through a question-and-answer format B. They allow participants to respond at their leisure C. They are typically used for measuring the success of a new product introduced in a specific area D. They are valuable tool for exploratory research and development of new product ideas.
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D
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73. McBurgers plans to introduce a new line of fish sandwiches to fifteen stores in eastern United States for a six-month period. If the product and promotional efforts behind it are successful, the company may launch them nationwide. What type of research is being conducted to determine potential success? A. Test marketing B. Exploratory research C. Stratified sampling
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A
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74. _____ is the process of searching through computerized information files to detect patterns that guide decision making. A. Slaes forecasting B. Data mining C. Exploratory research D. Ethnographic research
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B
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75. A company has introduced a new product in the market. The company distributes free samples of this product to people so that they can try it. This product is at the _____ stage of brand loyalty. A. brand insistence B. brand association C. brand preference D. brand recognition
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D
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76. A product is said to have achieved brand preference when: A. the product becomes familiar to the consumer B. the marketers start selling the product at a discount C. the consumer sees or recognizes the product and chooses it over its competitors D. the product has attained monopoly position with its customers
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C
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77. Which of the following is most likely to be the primary factor that attracts a consumer to a generic product? A. Package design B. Brand name C. Low price D. Product quality
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C
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78. The Kirkland brand is owned by Costco, and the products can only be purchased at Costco stores. Costco contracts with manufacturers to produce and package products under the Kirkland name. Kirkland can be regarded as a(n): A. family brand B. individual brand C. generic brand D. private brand
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D
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79. Housewares and apparel by Michael Graves and Mossimo Giannulli are sold exclusively at Target. These brands are examples of _____ brands. A. private B. national C. captive D. exclusive
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C
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80. Dell manufactures and markets computers and several related products, such as laptops, desktops, notebooks, and printers, all under the Dell name. These products are examples of ____ brands. A. family B. captive C. individual D. private label
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A
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81. Dawn, Joy, and Ivory are dish liquid brands manufactured by Procter & Gamble. All these brands can be regarded as ____ brands. A. private B. family C. generic D. indiviudal
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D
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82. A company's ability to market a product successfully at a higher price compared to its competitors is directly related to its: A. market capitalization B. product relevance C. brand equity D. market share
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C
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83. According to the Young & Rubicam's BrandAsset Valuator model, brand relevance is a dimension of brand personality that refers to: A. the extend of consumer awareness of a brand and understand of what kind of product it stands for B. the real and perceived appropriateness of a brand to a big consumer segment C. the way in which brand equity is assigned to the brand by evaluating institutions D. a brand's ability to stand apart from competitors
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B
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84. Which is the following statements is true of category management? A. Category managers are responsible for the profitability of their product groups B. Category managers help a retailer's category buyer maximize sales for a particular manufacturer's product rather than the whole category C. Category managers are usually assigned to a single brand rather than each retail chains D. Category managers are oriented toward mass market advertising, not in-store merchandising.
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A
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85. The leaping jaguar symbol, featured on cars of a particular brand, is a part of the brand's: A. service mark B. trade dress C. watermark D. trade token
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B
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86. A popular clothing brand in Switzerland decided to launch a new line of home furniture under the same brand name. This strategy being used by the company to launch its new offerings is called ____. A. line engagement B. brand reinforcement C. line extension D. brand extension
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D
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87. A ____ strategy concentrates on finding new markets for existing products. A. market penetration B. market development C. product development D. product diversification
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B
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88. Hertco Kitchens purchases cabinet doors from two vendors. In their production of kitchen cabinets, the doors constitute: A. Raw materials B. Component parts C. supplies D. MRO
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B
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89. Management of Hertco Kitchens has indicated the following attributes as a key factor in selection of a vendor (in addition to compatibility with its design and the quality of the purchased objects): A. The price B. The reliability (on time delivery for JIT operations) C. The reputation of the vendor D. The relationship that has been developed between Hertco and the vendor
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B
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90. Hertco management is considering expansion of their production facilities to support more sales. This requires more and more purchases of materials. You are going to allocate a space adjacent to their building to a couple of vendors in order to have them build the outsourced parts on the premise and deliver them in time to the production line. This method of delivering outsourced materials is called: A. Enhanced warehousing B. Conveyer belt loading C. JIT D. JIT 2 E. High frequency
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D
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91. You are commissioned by an electronics corporation to develop and market a new handset for telecommunications. You will proceed with the following functions in a sequence that would reach the corporate objective with minimal waste. A. Product development, direct and indirect distribution, consumer and business markets, transportation and warehousing, promotion, product and customer services, pricing and consumer financing, and outreaching. B. consumer and business markets, product development, promotion, pricing and consumer financing, direct and indirect distribution, product and customer services, transportation and warehousing, and outreaching. C. Promotion, product and customer services, consumer and business markets, product development, direct and indirect distribution, transportation and warehousing, pricing and consumer financing, and outreaching. D. Consumer and business markets, product development, direct and indirect distribution, transportation and warehousing, promotion, pricing and consumer financing, product and customer services, and outreaching. E. None of the above
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D
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92. Your firm is developing a precooked ethnic food to be sold to the Asian Americans of the Washington State. The new product would be offered in small packages and sold in supermarkets. You are in charge of measuring the level of demand in terms of the quantity of packages sold in current year. You are already informed of the population of Washington State and the percentage of Asian Americans. Assume that the national percentages of ethnic groups are applicable to Washington State as well. You are aiming at 5% of your target market and expecting to sell one package per week to them. How many packages would you be ordering to your production department? A. 350,000 packages B. 910,000 packages C. 1,820,00 packages D. 18,200,000 packages E. none of the above
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B
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93. A job that requires one to travel to new places, appreciate different types of art and architecture, and explore new ideas would be idea for a person who scores high on: A. Neuroticism B. Agreeableness C. Openness D. Conscientiousness
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C
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94. If you were marketing a certain product towards Asian Americans, what would you most likely do to advertise this item? A. Flyers B. E-newsletter online C. Billboards D. Advertisements in the mail E. None of the above
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B
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95. The exclusive dealing arrangement implies that A. In a game of blackjack only the dealer has the exclusive right to read the last card B. Only franchises have the exclusive right to sell the product C. In certain markets some distributors have exclusive right to sell the product D. Only one dealer in any sales territory can sell the product of the firm E. The wholesalers or retailers agree to exclusively handle this product of a single producer and do not carry products of the competitive firms
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E
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96. Tying agreement refers to A. When someone buys a suit, the seller throws in a tie in the deal that eliminates the privilege of the buyer to return the suit for refund B. An Act of the Congress which was sponsored by Senator Morton Tying in 1948 to legalize the price maintenance agreements between the producers and dealers C. Tying the sales of hazardous products to warranties for their regular inspection and maintenance by the producer D. The unlawful provision of tying the sale of one product to another product E. the selling of a set of homogeneous shopping goods in a simple transaction
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D
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97. You remember our discussion of market segmentation and targeting strategies. We discussed the market segmentation strategies by three automobile producers, Ford, General Motors, and Ferrari. From our discussion we concluded that: A. Ford Model T a differentiated, GM cars a concentrated, and Ferrari a undifferentiated market segmentation strategy B. Ford Model T a concentrated, GM cars a undifferentiated, and Ferrari a differentiated market segmentation strategy C. Ford Model T an undifferentiated, GM cars are a differentiated, and Ferrari a concentrated market segmentation strategy D. none of the above
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C
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98. For every $1 spend in the United States, ____ is attributed to the African American population. A. $0.01 B. $0.09 C. $0.30 D. $1.00 E. None of the above
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B
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99. A consumer who scores low on extraversion would be most likely to buy which of the following items: A. A jacket all of their friends have B. A ticket to Mexico City for Spring Break C. A book D. A cake for a party
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C
question
100. A benefit of reviewing Safavi's Market Fair is to learn the sequence of marketing activities in a broad sense to include the following function in the order of their appearance: A. 1-apply the "customer is always right" strategy, 2- create a management orientation which rewards good employees, 3-promote the product, 4- price it right and offer financing, 5- service the product, 6- reach to the national and international markets, 7-outreach your markets, and 8-conduct a market research to find problems and resolve them. B. 1 - service the product, 2 - reach to the national and international markets, 3- outreach your national and international markets, 4 - promote the product, 5-segmentize your markets according to metropolitan statistical areas, 6- investigates the needs and wants of your target markets, 7 - maintain an accounting system which you would keep records of your costs, and 8 - never say no to customers is you can manage it. C. 1- handle transportation, warehousing, and logistics, 2- promote the product, 3- price it right and offer financing, get to know the needs and wants of your target markets, 4- develop products with attributes to satisfy those needs, 5- design a work compensation plan which would motivate your employees to work more efficiently, 60 advertise your product with public interest in mind D. Get to know the needs and wants of your target markets, 2- develop products with attributes to satisfy them, 3- distribute the products directly or indirectly to the target market, 4- handle transportation, warehousing, and logistics, 5- promote the product, 6- price it right and offer financing, 7 - service the product, and reach to the national and international markets E. none of the above
answer
D
