Marketing Self Assesments

Question 1

Which of the following are the core components of marketing strategy?

Answer 1

target market, marketing mix

Question 2

Which of the following is not considered a component of customer profiles/personas

Answer 2

Assumption attributes (speculation data, company opinions, guesstimates, etc.)

Question 3

Lipton has increased sales by developing ads that encourage its current customers to drink Lipton tea instead of coffee at morning “coffee breaks.” This effort focuses on:

Answer 3

market penetration

Question 4

The “four Ps” of a marketing mix are:

Answer 4

Product, Place, Promotion, and Price

Question 5

Which of the following is not part of the external marketing environment?

Answer 5

competitive environment

Question 6

Jazzy Tile Co. segmented its broad product-market and decided to aim at two different segments, offering each segment a different marketing mix. Jazzy Tile Co. is following the ______________ approach.

Answer 6

multiple target market

Question 7

Which of the following is NOT a factor that can affect the choice of segmenting or combining:

Answer 7

Combining implies more marketing costs

Question 8

Which of the following is not a criteria for determining segments?

Answer 8

People in the segment are similar to people in other segments.

Question 9

Torpedo Brands is a newly emerging shoe manufacturing company. After extensive market research the firm has divided its market into professional athletes, amateur players, and non-athlete casual. Each category has its own needs, traits, and marketing goals. In this scenario, Torpedo Brands has engaged in market _______

Answer 9

segmentation

Question 10

Which of the following activities are not considered marketing:

Answer 10

building a facility to make furniture.

Question 11

(True/False). Part of the criteria for determining ta viable market segment is that the segment needs be large enough to be profitable.

Answer 11

True

Question 12

which of the needs in heirarchy of needs does this attempt to satisfy? it says “When you care enough to send the very best”

Answer 12

social needs

Question 13

The new product development process is an organized approach for bringing new products to market and consists of 5 stages. Place the 5 stages in order:

Answer 13

idea generation
screening
idea evaluation
development
commercialization

Question 14

Many new product concepts require an adoption process. Match the stage of the adoption process with the correct order

Answer 14

awareness
interest
evaluation
trial
decision
confirmation

Question 15

In this course, we delve into multiple issues concerning Product Life cycle Length. Which one of these is NOT an issue?

Answer 15

Greater Product Complexity

Question 16

Utilizing the marketing mix in a distinct way such that customers see it as different from the competition is known as:

Answer 16

differentiation

Question 17

Which of the following does not represent a differentiation strategy?

Answer 17

Offering an assortment of commodity/me-too products

Question 18

Tension caused by uncertainty about the rightness of a decision is known as:

Answer 18

dissonance

Question 19

When a consumer tends to resort to habit when solving a buying problem and making a purchase decision, this is known as:

Answer 19

routinized response behavior

Question 20

Stimuli created by a marketer in the environment that trigger a drive or response are:

Answer 20

cues

Question 21

Customers remembering messages that are consistent with their beliefs and attitudes, but not remembering those messages that conflict, is known as:

Answer 21

selective retention

Question 22

Sarah is considered part of an active, outdoor-loving, customer segment that is into sports, music and fashion. This is an example of segmentation based on activities, interests and opinions ad relates to:

Answer 22

Psychographics

Question 23

In marketing to businesses and organizations, several people are usually involved in the purchase decision. This collection of roles is referred to as the:

Answer 23

Buying Center

Question 24

Sweets Galore, the manufacturer of Rainbow brand lollipops, decided to expand into manufacturing liqueur-filled chocolate truffles. Its buying process for the chocolates, liqueurs, and molds was extensive, and included setting product specifications and evaluating sources of supply. This is an example of a:

Answer 24

new-task buy

Question 25

What term is used to describe when a customer purchases a product with no planning or forethought?

Answer 25

impulse buying

Question 26

_____________ products are ones that the customer really wants because there are no acceptable substitutes. They are characterized by the customer’s willing to search.

Answer 26

Specialty

Question 27

E-Z-Go, a producer of golf carts, promotes its carts to prospective customers by advertising them as an easy and quiet way for workers to get around malls, airports, and big factories. E-Z-Go is trying to increase its sales through:

Answer 27

market development

Question 28

Wizard Toy Company’s marketing researcher conducted a survey to find out the percentage of customers who, after receiving a promotional mailing about a new toy, actually went out and purchased the product. This market research survey is an example of:

Answer 28

quantitative research

Question 29

Lipton has increased sales by developing ads that encourage its current customers to drink Lipton tea instead of coffee at morning “coffee breaks.” This effort focuses on:

Answer 29

market penetration

Question 30

Tom and Sally Jones are preparing to purchase a new car. He currently has a Toyota Camry and she has a Honda Accord. They now have two children under age 5, so they plan to trade in Sally’s car to purchase a minivan. Sally and Tom decided on a Honda Odyssey because Sally is familiar with Hondas and thinks they are very reliable. In this purchase situation, Tom and Sally’s family life cycle stage is a _____________ segmenting dimension, and the benefit Sally seeks (reliability) is a _____________ segmenting dimension.

Answer 30

demographic; behavioral

Question 31

“Publicity”

Answer 31

is mass selling that avoids paying media costs

Question 32

Which is NOT a reason to use a direct distribution channel?

Answer 32

Suitable intermediaries are available

Question 33

Place in the 4 “P”s means the same as:

Answer 33

Distribution

Question 34

In which of the following cases will profit be maximized?

Answer 34

When marginal revenue is equal to marginal cost

Question 35

Some firms, including most retailers and wholesalers set prices by adding a dollar amount to the cost of products to get the selling price. This pricing approach is called _______?

Answer 35

markup

Question 36

Consumers tend to be relatively less price sensitive:

Answer 36

when there are very high switching costs

Question 37

Average-cost pricing:

Answer 37

will lead to losses if actual sales are much lower than expected

Question 38

Which of the following is not considered a typical pricing objective used by companies?

Answer 38

Revenue Oriented

Question 39

Ford Motor Co. “loaned” new Fiestas to social trendsetters who drove the cars as part of their Meals on Wheels responsibilities. When Ford asked them to write about their driving experiences on Facebook and Twitter, it was emphasizing which aspect of the 4Ps?

Answer 39

Promotion

Question 40

The AIDA model consists of four promotion jobs:

Answer 40

getting Attention, holding Interest, arousing Desire, and obtaining Action.

Question 41

A marketing manager should realize that the adoption curve concept implies:

Answer 41

using different promotional mixes for different adopter groups.

Question 42

Hershey’s places a simple ad for its “Kisses” chocolates in SPORTS ILLUSTRATED. The ad shows only a photo of the product with no copy words. This is an example of a(n) ____________ promotion objective.

Answer 42

Reminding

Question 43

American Tourister, Inc.—a producer of luggage—is planning to introduce a new product line. The marketing manager is having her sales force call on retailers to explain American Tourister’s consumer advertising plans, the unique features of the new luggage, how the distributors can best promote it, and what sales volume and profit margins they can reasonably expect. This is an example of:

Answer 43

a “pushing” policy

Question 44

Which of the following is an objective that would indicate that a Profit Oriented Strategy for pricing should be followed?

Answer 44

Target Return

Question 45

Which one of the following is NOT a form of advertising?

Answer 45

Reactionary

Question 46

Which one of the below traditional advertising channels reaches the widest market at the lowest cost?

Answer 46

Radio

Question 47

Which of these is a type of unpaid, non-personal presentation of ideas, goods, and services?

Answer 47

Publicity

Question 48

Saxon Shoes is a large independent shoe store. In the men’s department, the store offers three different brands of slip-on tassel loafers for men: Bass, priced at $75; Rockport, priced at $125; and Allen Edmonds, priced at $250. In terms of product quality, which of the following is an accurate statement?

Answer 48

The quality of the three brands depends on the degree to which they meet the needs of the consumers in the target market.

Question 49

Direct channels are rarely used in business-to-business marketing.

Answer 49

False

Question 50

For specialty products that have relatively high demand, a manufacturer is more inclined to use which of the following market exposure strategies?

Answer 50

Selective

Question 51

A pricing level policy which harvests demand at a higher price before lowering for the more price-sensitive customers is referred to as _________.

Answer 51

Price skimming

Question 52

Which of the following could increase a customer’s price sensitivity?

Answer 52

-ease of price comparison
-availability of substitutes
k-no substantial end benefit
-lower initial investment