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5 Written Questions

5 Matching Questions

  1. Generational cohorts are groups of people of the same generation who have similar purchase behavior because they have:

    a) similar income levels
    b) the same number of children
    c) shared country culture and ethnic backgrounds
    d) shared experiences, and are in the same stage of life
    e) similar income levels and levels of educational attainment
    f) all of the above
  2. Most banks now have customer relationship software which, when a customer contacts the bank, tells the service representative what types of accounts, loans, and credit cards the customer currently has. Service representatives use this information to sell some of the other services the bank currently offers to these customers. This is a _______________ growth strategy.

    a) product development
    b) diversification
    c) market development
    d) market penetration
    e) product proliferation
  3. Marco was assigned to help create a positioning strategy for his employer's products based on product attributes. He should consider:

    a) the characteristics that helped his firm win a statewide award for excellence in manufacturing
    b) the features the engineers feel are most important
    c) what the target market would consider the most important features
    d) the safety record of the firm and its products
    e) the ways the sales representatives have been positioning the firm's products
  4. There is an old saying, "Never go to the grocery store hungry." This saying suggests that a consumer's __________ state may adversely affect purchasing decisions.

    a) theoretical
    b) external
    c) shopping
    d) temporal
    e) social
    f) none of the above
  5. Stuart wanted to impress Janet with the perfect engagement ring. He had been saving money for months, and he noticed his attitudes and perceptions about diamond rings changing as he began paying attention to ads for rings. Marketers call this process

    a) Self-actualization
    b) A decision heuristic
    c) Learning
  1. a c) what the target market would consider the most important features

    Positioning should be done with the target market's needs in mind. What matters is which attributes are salient (important) to potential customers
  2. b c) Learning
  3. c d) market penetration

    Selling more services to existing customers is a market penetration growth strategy. If these were newly developed services, this would be a product development example
  4. d d) temporal

    Hunger is an example of a temporal state, a temporary state of mind that can influence decision making. In this case, the suggestion is that hunger will cause the consumer to purchase things s/he wouldn't buy otherwise
  5. e d) shared experiences, and are in the same stage of life

5 Multiple Choice Questions

  1. d) substantial

    A segment is substantial if it is large enough to be worth targeting, and if the segment members have sufficient buying power. "Substantial" is a better answer than "Profitable" because even a small segment with few people who can afford the product could be profitable in some circumstances, depending on price, margin, and so on
  2. b) Place

    Place refers to getting products to customers when and where they need them. This is what electronic downloading of e-books offers.
  3. e) meet inventory needs

    Some of the other options address ways that technology can help firms communicate with consumers; however, the question asks about members of the supply chain using technology; inventory management is an example of how the supply chain can benefit from technology
  4. positioning

    Donald is positioning his business relative to the competition by focusing on his investment in the local neighborhood and his years of experience serving local customers
  5. value proposition

5 True/False Questions

  1. Store atmosphere factors such as __________ can influence consumers' purchase decisions

    a) Music
    b) Color
    c) Lighting
    d) Scents
    e) All of the above
    consumers

    Perceptual maps measure perceptions of consumers, not of competitors or members of the firm

          

  2. The CAN-SPAM Act of 2003

    a) strengthened health standards for Spam and other canned meat products
    b) created penalties for sending misleading commercial email
    c) created oversight of canned visual advertising
    d) strengthened the Fair Packaging and Labeling Act
    e) restricted tobacco advertising
    f) none of the above
    b) created penalties for sending misleading commercial email

    The CAN-SPAM Act of 2003 restricts the situation in which spam email can be sent

          

  3. 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

          

  4. For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements with other countries creates:

    a) Weaknesses
    b) Opportunities
    c) Threats
    d) Strategic plans
    e) Strengths
    b) They speak different languages and comer from different cultures

    Asian consumers are not a single group-they come from many nations (i.e. China, Japan, Korea...) with different languages and cultures

          

  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
    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

          

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