5 Written questions
5 Matching questions
- Julie is an experienced shopper. She has been doing the family's weekly shopping since she was twelve. She is not very interested in status items, and questions advertising claims. Julie is most likely to be in the ______________ generational cohort.
b) Generation W
c) Generation X
d) Baby Boomers
e) Generation Y
- Marketers who design and offer new products and services to their existing customers are pursuing a ____________ growth strategy.
a) product development
c) market development
d) market penetration
e) product proliferation
- Many consumers correlate price with quality, thinking that the higher the price, the better the quality. For these consumers, this is:
a) Social factors
b) Temporal factors
c) A decision heuristic
d) A compensatory decision rule
e) A noncompensatory decision rule
f) None of the above
- E-books, in addition to being an alternative product form, provide _________ value creation since they can be downloaded via the internet immediately when they are needed.
f) All of the above
- Braddock University allows recent graduates to come back and take additional courses for free. By offering additional educational services, the university is enhancing its _____________ in an attempt to create value for its customers.
a) Place strategy
b) Product strategy
c) Locational excellence strategy
d) Segmentation strategy
e) Diversification strategy
- a a) product development
- b b) Product strategy
The product the students buy--a degree--is enhanced by the ability to take extra courses at no additional cost. Thus, this special offer is related to the product strategy.
- c b) Place
Place refers to getting products to customers when and where they need them. This is what electronic downloading of e-books offers.
- d c) Generation X
- e c) A decision heuristic
Price is a decision heuristic--a shortcut to simplify and shorten the decision process. The saying "You get what you pay for" is related to this heuristic.
5 Multiple choice questions
- d) Price elastic target market
- c) Learning
- e) decision heuristic
- b) A consumer recognizes an unsatisfied need
Need recognition is the first step in the consumer buying process
- c) family, reference groups, and culture
5 True/False questions
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:
b) product attributes
c) competitive comparisons
d) all of the above
e) none of the above → e) none of the above
By emphasizing the low price and high quality, the university president is focusing on value (which is not listed in the choices)
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.
f) none of the above → d) reachable
A segment is reachable if it can be reached for marketing communication and product distribution. Internet access has opened up many new ways to reach consumers
When senior citizens or recent immigrants are pressured to take out loans they cannot pay back (often containing high fees, hidden costs, and higher rates of interest), these are referred to as:
a) predatory loans
b) consolidated loans
c) opportunistic financing
d) low yield loans
e) prime rate loans → a) predatory loans
The loans provided by predatory lenders, which target vulnerable consumers, are referred to as predatory loans
What is value-based pricing? → Setting price based on buyers' perceptions of value rather than on the seller's cost
Regina wants to position her financial services company. Regina can position her services according to:
a) competitive comparisons
b) product attributes
e) all of the above
f) none of the above → 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