Chapter 2 - Marketing

Question 1

Which of the following is an example of primary data?

a) Genealogical records found at the local library
b) Brochures published by provincial tourism departments and cited in a university study of travel
c) Data on average monthly rainfall in 20 selected Canadian cities, published by Environment Canada
d) “Key Small Business Statistics” published by Statistics Canada
e) A survey you distribute to your classmates, to determine the best time to schedule a meeting

Answer 1

e) A survey you distribute to your classmates, to determine the best time to schedule a meeting

Question 2

Question 2
Agents at Plutocrat Realtors decided that they will not buy or sell any homes that are valued at less than $2,500,000. They recognise that this will probably limit the number of clients that they represent, but they feel that \_\_\_\_\_ will work for them.
a) Economic segmentation
b) Demographic segmentation
c) Regressive segmentation
d) Geographic segmentation
e) Socio-economic segmentation

Answer 2

b) Demographic segmentation

Question 3

Which of the following is one of the 4 P’s of the marketing mix?

a) Productivity
b) Price
c) Production
d) Product differentiation
e) Personnel

Answer 3

b) Price

Question 4

The range of customers in the automobile market is varied. Their needs are equally varied. Some people need trucks to haul construction equipment and farm supplies. Others need to take kids to hockey practice. Some people drive small, soft-top sports cars. Others like big luxury vehicles like Mercedes Benzes. To serve these various different customer groups better, successful businesses must practice:

a) Diversified user marketing
b) Market segmentation
c) Multi-consumer marketing
d) Multi-channel marketing

Answer 4

b) Market segmentation

Question 5

Which of the following is not one of the variables considered when segmenting a market?

a) Geographic variables
b) Demographic variables
c) Psychographic variables
d) Product differentiation variables

Answer 5

d) Product differentiation variables

Question 6

Which of the following best describes the term “target market”?

a) A group of people who share demographic and psychological traits
b) A group of people who need your product
c) A group of people who are most likely to purchase a product because they have similar needs and wants
d) A group of people who can be segmented in some way

Answer 6

c) A group of people who are most likely to purchase a product because they have similar needs and wants