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BUS 346 - Midterm 1 Test

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5 Written Questions

5 Matching Questions

  1. In a SWOT analysis, increasing gasoline prices would represent a potential __________ for manufacturers of electric cars.

    a) Threat
    b) Locational advantage
    c) Opportunity
    d) Weakness
    e) Operational advantage
  2. Which of the following groups has never lived without easy access to cell phones or the Internet?

    a) Tweens
    b) Generation X
    c) Baby Boomers
    d) Generation W
    e) Generation Z
    f) None of the above
  3. When evaluating the attractiveness of the segment, if a segment is expected to react positively to the firm's offering, we say that the segment is
  4. From a marketing perspective, what separates __________ from the generation before them is
    that they are individualistic, value leisure time as a high priority, and are trying to maintain their youth.
  5. After conducting STP analysis for her custom auto parts store and developing strategies for each of the four Ps, Monique now has to make _____________ decisions.

    a) Mission statement
    b) Resource allocation
    c) Competitive response
    d) Market growth
    e) Product line
  1. a Baby Boomers
  2. b responsive

    For a segmentation strategy to be successful, the customers in the segment must react similarly and positively to the firm's offering. This is referred to as a responsive segment.
  3. c a) Tweens

    'Tweens' is the term for the youngest component of Generation Y, who have had access to cell phones and the Internet all their lives
  4. d c) Opportunity

    Higher gas prices should make consumers more likely to consider buying electric cars, so this is a positive factor. It is external to the firm since it is beyond the firm's control. An external positive factor is an opportunity
  5. e b) Resource allocation

    Monique has chosen a target market, determined positioning strategies, and developed marketing mixes. She mow has to consider available resources and determines how they will be allocated across the different options available for implementation

5 Multiple Choice Questions

  1. e) all of the above
  2. c) Expansion in China

    Expansion overseas is considered an 'opportunity'
  3. e) affective

    The words "like" and "love" are important here, as they represent feelings, which make up the affective component of an attitude. The cognitive component would be represented by beliefs (for example, the belief that Apple is better at innovation than its competitors). The behavioral component would be represented by actions (for example, the choice to buy an Apple computer instead of a Windows PC).
  4. b) perceptions

    The cultural differences between Americans and Indonesians have led to different perceptions of the meaning of the swastika symbol
  5. d) place

    By making sure the mobile network is available to use where and when customers want it, cellular service companies are working on place value creation

5 True/False Questions

  1. Laura finds that she spends very little time face to face with her family and friends. Most of her communication is done through text messages on her mobile/cell phone and Facebook. Laura probably is part of which generational cohort?

    a) Generation W
    b) Baby Boomers
    c) Generation X
    d) Generation Y
    e) All of the above
    d) Generation Y

          

  2. In order to effectively communicate value to target markets, marketers must first

    a) understand their customers
    b) redesign ads to meet media specifications
    c) hire the right ad agency
    d) use the Internet
    e) all of the above
    a) understand their customers

    All of these steps might factor into a value communication strategy, but the only one that is necessary in all cases is understanding customers

          

  3. Vacation, restaurant, and entertainment choices require marketers to consider which of the
    following social factors?

    a) Purchase anxiety
    b) Learning
    c) Lifestyle adaptation
    d) Family influences
    e) All of the above
    d) approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups

    Ethnic groups represent a fast-increasing percentage of the U.S. population

          

  4. Typical demographic data include:

    a) Race
    b) Geographic region
    c) Income
    d) Gender
    e) All of the above
    f) None of the above
    e) All of the above

    All of the listed choices were examples of demographic factors

          

  5. Whenever the president of the local public university promotes the institution, he emphasizes the university's price (much lower than neighboring private colleges) and high quality. He is positioning the institution based on:

    a) symbols
    b) product attributes
    c) competitive comparisons
    d) all of the above
    e) none of the above
    responsive

    For a segmentation strategy to be successful, the customers in the segment must react similarly and positively to the firm's offering. This is referred to as a responsive segment.

          

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