This document appears to be a quiz covering key concepts in marketing. It includes 20 multiple choice questions testing understanding of topics like:
1) The types of goods and services that economies focus on producing as they advance (services).
2) Examples of different types of demand like latent demand.
3) Strategies companies use like market penetration, product development, and diversification.
4) Marketing concepts like the marketing mix, segmentation, and integrated marketing.
The quiz covers a wide range of foundational marketing topics to assess the test taker's knowledge.
This document appears to be a quiz covering key concepts in marketing. It includes 20 multiple choice questions testing understanding of topics like:
1) The types of goods and services that economies focus on producing as they advance (services).
2) Examples of different types of demand like latent demand.
3) Strategies companies use like market penetration, product development, and diversification.
4) Marketing concepts like the marketing mix, segmentation, and integrated marketing.
The quiz covers a wide range of foundational marketing topics to assess the test taker's knowledge.
This document appears to be a quiz covering key concepts in marketing. It includes 20 multiple choice questions testing understanding of topics like:
1) The types of goods and services that economies focus on producing as they advance (services).
2) Examples of different types of demand like latent demand.
3) Strategies companies use like market penetration, product development, and diversification.
4) Marketing concepts like the marketing mix, segmentation, and integrated marketing.
The quiz covers a wide range of foundational marketing topics to assess the test taker's knowledge.
Question 1 of 20 1.0/ 1.0 Points As economies advance, a growing proportion of their activities focuses on the production of ________.
A. products
B. services
C. luxury goods
D. events
E. experiences
Question 2 of 20 1.0/ 1.0 Points When Jimmy buys his own house, he would like to have a home theater system and a jacuzzi. He plans to save enough money in the next three years so that he can fulfill his wish. Jimmys desire for the home theater and the jacuzzi is an example of a(n) ________.
A. latent demand
B. need
C. unstated need
D. demand
E. want
Question 3 of 20 1.0/ 1.0 Points Dallas owns a chain of fast-food joints. As the chain became more and more successful, she decided to contribute a share of her profits each year to support irony deficiency research. This is an example of ________.
A. environmental marketing
B. cause-related marketing
C. benefit marketing
D. responsible marketing
E. corporate community involvement
Question 4 of 20 1.0/ 1.0 Points A social definition of marketing says ________.
A. effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers
B. a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company's products
C. marketing is the process of extracting the maximum value from consumers to facilitate corporate growth
D. marketing is the process of aggressive selling and promotion to encourage the purchase of products that might otherwise be unsought by the consumer
E. marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others
Question 5 of 20 1.0/ 1.0 Points The identification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes is known as ________.
A. customization
B. segmentation
C. cross-selling
D. integration
E. disintermediation
Question 6 of 20 1.0/ 1.0 Points A(n) ________ need is a need that the consumer explicitly verbalizes.
A. delight
B. affirmative
C. stated
D. unsought
E. secret
Question 7 of 20 1.0/ 1.0 Points McCarthy classified marketing activities into the four Ps of the marketing mix. These four Ps stand for ________.
A. place, promotion, production, and positioning
B. product, price, promotion, and place
C. product, production, price, and place
D. promotion, place, positioning, and price
E. product, positioning, place, and price
Question 8 of 20 1.0/ 1.0 Points Identify the correct statement about marketing management.
A. It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services.
B. It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.
C. It is defined as the field that deals with planning and managing a business at the highest level of corporate hierarchy.
D. It focuses mostly on monitoring the profitability of a company's products and services.
E. It focuses solely on attaining an organization's sales goals in an efficient manner.
Question 9 of 20 1.0/ 1.0 Points The value of an offering is described as ________.
A. the sum of the tangible and intangible benefits and costs to customers
B. the price consumers are charged for a product
C. the cost of manufacturing a product
D. the degree to which consumer demand for a product is positive
E. the intangible benefits gained from a product
Question 10 of 20 1.0/ 1.0 Points Which of the following is true of business markets?
A. Buyers are usually not skilled at comparing competitive product offerings.
B. Products sold in such markets are usually highly standardized.
C. Buyers have limited purchasing power.
D. Business buyers buy goods to make or resell a product to others at a profit.
E. Property rights, language, culture, and local laws are the most important concerns.
Question 11 of 20 1.0/ 1.0 Points ________ goods constitute the bulk of most countries' production and marketing efforts.
A. Impulse
B. Physical
C. Luxury
D. Intangible
E. Durable
Question 12 of 20 1.0/ 1.0 Points Which of the following is most consistent with what you now know to be marketing
A. All communication to consumers must deliver a consistent message irrespective of the medium.
B. Creating demand is the most important thing we do.
C. Selling product is the most important thing we do.
D. In order to succeed, the main focus should be on having an efficient production process in place.
E. Discovering and filling customers needs is what its really all about.
Question 13 of 20 1.0/ 1.0 Points The ________ concept holds that consumers will favor offerings with the best quality, performance, or innovative features.
A. product
B. marketing
C. holistic marketing
D. selling
E. production
Question 14 of 20 1.0/ 1.0 Points The ________ is the channel stretching from raw materials to components to final products that are carried to final buyers.
A. communication channel
B. distribution channel
C. marketing chain
D. supply chain
E. service chain
Question 15 of 20 1.0/ 1.0 Points The ________ holds that the organization's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer's and the society's well-being.
A. selling concept
B. integrated marketing concept
C. social responsibility marketing concept
D. relationship marketing concept
E. production concept
Question 16 of 20 1.0/ 1.0 Points Shawna is very upset that she can't get tickets to the Rolling Stones concert because they are sold out. Which of the following demand states applies to Shawnas situation?
A. unwholesome demand
B. latent demand
C. overfull demand
D. nonexistent demand
E. full demand
Question 17 of 20 1.0/ 1.0 Points Managers of ________ businesses concentrate on achieving high manufacturing efficiency, low costs, and mass distribution.
A. product-oriented
B. consumer-oriented
C. production-oriented
D. selling-oriented
E. marketing-oriented
Question 18 of 20 1.0/ 1.0 Points Sales of woolen clothing usually increase during the winter season and decline thereafter. This is an example of ________ demand.
A. impulse
B. negative
C. declining
D. irregular
E. latent Question 19 of 20 1.0/ 1.0 Points ________ are basic human requirements, while ________ are the ways in which those requirements are satisfied.
A. Demands; needs
B. Demands; wants
C. Needs; wants
D. Needs; demands
E. Wants; needs
Question 20 of 20 1.0/ 1.0 Points Which of the following categories of goods and services is most likely to require an aggressive use of the selling concept?
A. necessary goods
B. luxury goods
C. unsought goods
D. complementary goods
E. shopping goods
Chapter 2 Quiz Ret urn to Assessment List
Part 1 of 1 - 20.0/ 20.0 Points
Question 1 of 20 1.0/ 1.0 Points Once Starbucks had established its presence in thousands of cities internationally, the company sought to increase the number of purchases by existing customers with a ________ strategy that led to new in-store merchandise, including compilation CDs and high-speed wireless access.
A. market-development
B. product-development
C. diversification
D. conglomerate
E. market-penetration
Question 2 of 20 1.0/ 1.0 Points When one company licenses another to produce its offerings, or two companies jointly market their complementary offerings, it is called a ________.
A. logistics collaboration
B. promotional alliance
C. product or service alliance
D. pricing collaboration
E. total quality management
Question 3 of 20 1.0/ 1.0 Points The first phase of the value creation and delivery sequence is ________ that represents the "homework" marketing must do before any product exists.
A. acquiring the value
B. choosing the value
C. communicating the value
D. considering the value
E. providing the value
Question 4 of 20 1.0/ 1.0 Points Qantas, the Australian national carrier, introduces flights to the Middle East. This is an example of ________.
A. diversification
B. differentiation
C. market development
D. market penetration
E. product development
Question 5 of 20 1.0/ 1.0 Points McDonald's has often teamed up with Disney to offer products related to current Disney films as part of its meals for children. The best description of this form of alliance would be a(n) ________.
A. promotional alliance
B. product alliance
C. logistics alliance
D. pricing collaboration
E. network alliance
Question 6 of 20 1.0/ 1.0 Points After analyzing their company's strengths and weaknesses, top managers at Loan Bright decided that they would serve individual loan officers who typically only wanted to purchase small sets of homebuyer data, rather than bigger institutional clients. To meet the needs of this segment, Loan Bright simplified its sales contract, restructured its advertising efforts to focus on Google ads, and created a separate customer-service department. Loan Bright's strategy is best described as a(n) ________ strategy.
A. differentiation
B. diversification
C. focus
D. promotional
E. overall cost leadership
Question 7 of 20 1.0/ 1.0 Points A strategy is a game plan for achieving what the business unit wants to achieve.
A. True
B. False
Question 8 of 20 1.0/ 1.0 Points If you were the CEO of a company that was looking to implement strategies to fill a perceived strategic-planning gap, you would most likely explore ________ strategy first because it is easier to improve an existing business than to build a new one.
A. exclusive
B. market-development
C. diversification
D. product-development
E. market-penetration
Question 9 of 20 1.0/ 1.0 Points Which of the following is best described as a market-oriented business definition?
A. Columbia Pictures: We make movies.
B. Xerox: We make copying equipment.
C. Encyclopedia Britannica: We distribute information.
D. Missouri-Pacific Railroad: We run a railroad.
E. Standard Oil: We sell gasoline.
Question 10 of 20 1.0/ 1.0 Points During Jill's market research study, many customers indicated that traditional oven mitts made it very difficult to hold baking dishes, resulting in frequent spills. Jill brought her findings to the research department, and her company leveraged its engineering and design competencies to develop a new hand-held hot-pad that allows for significantly greater dexterity in handling hot cooking implements, while protecting the cook from burns. This is an example of the ________ element of the holistic marketing framework.
A. value creation
B. value focus
C. value networking
D. integrated marketing
E. negative demand
Question 11 of 20 1.0/ 1.0 Points Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.
A. conglomerate
B. horizontal
C. integrative growth
D. concentric growth
E. intensive growth
Question 12 of 20 1.0/ 1.0 Points When it was first launched, Google's paid search platform represented a new strategy for revenue generation on the Internet. This is an example of innovation along which of the following dimensions?
A. process
B. value capture
C. supply chain
D. presence
E. brand
Question 13 of 20 1.0/ 1.0 Points Another way to describe a supply chain, where companies partner with specific suppliers and distributors to ensure a smooth functioning of the system, is to call it a ________.
A. value exploration
B. domestic power center
C. horizontal integration
D. value delivery network
E. teamwork group
Question 14 of 20 1.0/ 1.0 Points Mission statements are at their best when they reflect a ________.
A. vision
B. market
C. strength
D. competency
E. value
Question 15 of 20 1.0/ 1.0 Points As Kodak addresses the digital revolution taking over the photographic industry, it wants customers to see it as a leader in digital photography. Thus, it is moving away from the production of film roll cameras. This would be an example of which of the following value creation steps?
A. repositioning the company's brand identity
B. changing the corporate vision
C. realigning core competencies
D. redoing the corporate logo
E. abandoning current product lines
Question 16 of 20 1.0/ 1.0 Points The fulfillment management process includes all the activities in ________.
A. receiving and approving orders, shipping the goods on time, and collecting payment
B. gathering and acting upon information about the market
C. researching, developing, and launching new high-quality offerings quickly and within budget standards
D. building deeper understanding, relationships, and offerings to individual customers
E. defining target markets and prospecting for new customers Question 17 of 20 1.0/ 1.0 Points The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics), marketing them (marketing and sales), and servicing them (service).
A. tertiary activities
B. operations processes
C. secondary activities
D. primary activities
E. manufacturing processes
Question 18 of 20 1.0/ 1.0 Points In the cycle of complete strategic planning, taking corrective action is a part of ________.
A. implementation
B. controlling
C. organizing
D. planning
E. analyzing
Question 19 of 20 1.0/ 1.0 Points The ________ is the number of channel levels, from raw materials to final product and distribution, in which a company will participate.
A. market segment sphere
B. competence sphere
C. vertical sphere
D. product/application sphere
E. industry sphere
Question 20 of 20 1.0/ 1.0 Points MasterCard and Visa may team up with university alumni associations to offer affinity credit cards that typically display an iconic image associated with the university on the card itself and may include an incremental donation program associated with purchases made using the card. The best description of this form of alliance would be a ________.
A. logistics alliance
B. pricing collaboration
C. promotional alliance
D. network alliance
E. product alliance
Chapter 3 Quiz Ret urn to Assessment List
Part 1 of 1 - 19.0/ 20.0 Points
Question 1 of 20 1.0/ 1.0 Points Only one level of industry marketing expenditure will actually occur. The market demand corresponding to this level is called the ________.
A. market forecast
B. market potential
C. company demand
D. market minimum
E. market share
Question 2 of 20 1.0/ 1.0 Points Arlette would like to own a Mercedes but is unable to afford one at this time. Arlette is part of the ________ for this product.
A. available market
B. potential market
C. penetrated market
D. projected market
E. target market
Question 3 of 20 1.0/ 1.0 Points ________ is the limit approached by market demand as industry marketing expenditures approach infinity for a given marketing environment.
A. Market potential
B. Sales budget
C. Sales quota
D. Company sales potential
E. Company sales forecast
Question 4 of 20 1.0/ 1.0 Points When a company is said to have engaged in "greenwashing," it means that ________.
A. the company has changed its "green" image in order to appeal to a different, usually older, demographic
B. the company has undertaken a campaign to lobby for tougher environmental regulations for the industry
C. the company has moved its production facilities to countries where environmental laws and regulations are less rigorous
D. the company has significantly changed its business processes to incorporate a greener, more environmentally friendly philosophy
E. the company's products are not nearly as green and environmentally beneficial as its marketing might suggest
Question 5 of 20 1.0/ 1.0 Points The ________ market is the set of consumers who are buying the company's product.
A. available
B. potential
C. target
D. penetrated
E. green
Question 6 of 20 1.0/ 1.0 Points Companies can practice targeted marketing by using ________ records of Web site usage stored on personal browsers.
A. trolls
B. honey-pots
C. black swans
D. plug-ins
E. cookies
Question 7 of 20 0.0/ 1.0 Points Few consumers actually delete cookies frequently. When customers do not delete cookies, they expect customized marketing appeals and deals.
A. true
B. false
C. cookies..yum!
Question 8 of 20 1.0/ 1.0 Points A growing population does not mean growing markets unless ________.
A. the government has a budget surplus
B. people have sufficient purchasing power
C. there is common ownership of all resources
D. there is adequate governmental intervention in the market
E. the people are under a democratic system of government
Question 9 of 20 1.0/ 1.0 Points ________ for a product is the total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program.
A. Company demand
B. Market demand
C. Area market potential
D. Total market potential
E. Company sales potential
Question 10 of 20 1.0/ 1.0 Points The traditional household consists of ________.
A. a husband, wife, and children (and sometimes grandparents)
B. a group of related persons living together
C. a man and a woman living together (whether married or not)
D. related or unrelated persons who share living arrangements
E. a husband, wife, 2.2 kids, a dog, a car, a parakeet, and a rabid gerbil
Question 11 of 20 1.0/ 1.0 Points One of the ways to find relevant online information on competitors' strengths and weaknesses might be to frequent distributor or sales agent feedback sites.
A. true
B. false
C. Wow! Google has everything!
Question 12 of 20 1.0/ 1.0 Points The ________ market is the set of consumers with an adequate interest, income, and access to a particular offer.
A. potential
B. available
C. penetrated
D. right
E. target
Question 13 of 20 1.0/ 1.0 Points There is a global trend toward an aging population.
A. true
B. false
C. I dont know. My dog ate my textbook.
Question 14 of 20 1.0/ 1.0 Points As the manager of an organization that is attempting to build a Marketing Information System (MIS), you have been informed that a MIS is built upon three fundamental information sources. The sources are ________, marketing intelligence activities, and marketing research.
A. consultant reports
B. secondary data from government sources such as the Better Business Bureau
C. external records and documents
D. databases found on the Internet
E. internal company records
Question 15 of 20 1.0/ 1.0 Points Which of the following would be the best illustration of a secondary belief or value?
A. belief in getting married
B. belief in work
C. belief in being honest
D. belief in giving to charity
E. belief in getting married early
Question 16 of 20 1.0/ 1.0 Points An important force affecting business is the ________ movement, a movement of citizens and government organized to strengthen the rights and powers of buyers in relation to sellers.
A. consumerist
B. self-determination
C. materialistic
D. human rights
E. environmental
Question 17 of 20 1.0/ 1.0 Points By 2010, projections indicate that the largest category of households will be composed of ________.
A. single-parent families
B. single live-alones
C. vegetarians
D. married couples with children
E. childless married couples and empty nesters
Question 18 of 20 1.0/ 1.0 Points The ________ market is the part of the qualified available market the company decides to pursue.
A. target
B. reserve
C. available
D. wrong
E. potential
Question 19 of 20 1.0/ 1.0 Points ACME LLC, a small company that manufactures specialty cereals and energy bars, wants to launch a "green marketing" program in response to heightened consumer awareness about environmental issues. What should the company do to maximize the program's chances of being successful?
A. engage in "greenwashing" to highlight the environmental benefits of the product
B. emphasize benefits to the consumer rather than environmental benefits
C. explain the rules and regulations laid out by governmental agencies to protect the environment
D. demonstrate that the products will benefit both customers and the society in the long- term
E. focus on the efforts and costs incurred by the company to bring these "green" products to consumers
Question 20 of 20 1.0/ 1.0 Points ________ beliefs and values are passed from parents to children and reinforced by social institutions schools, churches, businesses, and governments; they are very difficult to change.
A. Core
B. Transient
C. Variable
D. Secondary
E. Stubborn
Chapter 4 Quiz Ret urn to Assessment List
Part 1 of 1 - 17.0/ 25.0 Points
Question 1 of 25 0.0/ 1.0 Points Primary data can be collected in several ways. Installing CCTV cameras in a retail store whereby consumers' actions can be recorded is an example of ________.
A. experimental research
B. survey research
C. focus group research
D. behavioral research
E. observational research
Question 2 of 25 1.0/ 1.0 Points Which of the following is used to assess people's knowledge, beliefs, preferences, and satisfaction and to measure these magnitudes in the general population?
A. observational research
B. a dinner party
C. descriptive research
D. quantitative research
E. survey research
Question 3 of 25 1.0/ 1.0 Points Especially popular with such companies as Procter & Gamble, marketing-mix modeling is used to allocate or reallocate expenditures.
A. true
B. false
C. I dont know but they make good toothpaste.
Question 4 of 25 1.0/ 1.0 Points A question that respondents can answer in an almost unlimited number of ways is called a ________.
A. stupid question
B. structured question
C. closed-end question
D. dichotomous question
E. completely unstructured question
Question 5 of 25 0.0/ 1.0 Points Which of the following statements about telephonic interview is true?
A. It usually takes a long time to gather information through telephonic interviews.
B. The interviewer is unable to clarify questions if respondents do not understand them.
C. Telephone interviewing in the U.S. is getting more difficult because of consumers' growing antipathy toward telemarketers.
D. The U.S. government generally encourages telemarketing by firms.
E. The response rate for telephonic interviews has been typically lower than for mailed questionnaires.
Question 6 of 25 1.0/ 1.0 Points Which of the following is an advantage of online research?
A. It can be done in ones pajamas.
B. Online research is relatively free of technological problems and inconsistencies.
C. Online research is slow but gather detailed information.
D. Samples are generally representative of the target population.
E. People tend to be honest and thoughtful online.
Question 7 of 25 1.0/ 1.0 Points If the goal of marketing research is to shed light on the real nature of a problem and to suggest possible solutions or new ideas, the research is said to be ________.
A. exploratory
B. descriptive
C. secondary
D. good
E. primary
Question 8 of 25 1.0/ 1.0 Points A scale that connects two bipolar words is called a ________.
A. manic depressive
B. word association
C. semantic differential
D. dichotomous question
E. Likert scale
Question 9 of 25 0.0/ 1.0 Points Which of the following is an internal marketing metric that companies need to monitor?
A. relative employee satisfaction
B. market share
C. relative perceived quality
D. total number of customers
E. consumer satisfaction
Question 10 of 25 0.0/ 1.0 Points A company would like to study the impact of advertising expenditure on sales and sales revenue. This is an example of ________ research.
A. secondary
B. prescriptive
C. exploratory
D. qualitative
E. causal
Question 11 of 25 1.0/ 1.0 Points If a marketing researcher is looking for a contact method that can gather information quickly and allow the interviewer to clarify questions if necessary, he or she will choose the telephone interview method.
A. true
B. false
C. I dont know.
Question 12 of 25 1.0/ 1.0 Points Jaime collected primary data when he distributed a survey to dorm residents to discover their attitudes and opinions on campus life.
A. true
B. false
C. I dont know. Does it really manner? I mean, who cares about dorm residents?
Question 13 of 25 1.0/ 1.0 Points ________ are data that were collected for another purpose and already exist.
A. Ordinate data
B. Cross-sectional data
C. Secondary data
D. Primitive data
E. Primary data
Question 14 of 25 1.0/ 1.0 Points An item in a questionnaire states that "most politicians cannot be trusted." Respondents are required to provide their answers by choosing any one of the following options: 1) Strongly disagree, 2) Disagree, 3) Neither agree nor disagree, 4) Agree, 5) Strongly agree. This is an example of a ________.
A. word association question
B. dichotomous question
C. Thematic Appreciation Test (TAT)
D. Likert scale
E. semantic differential
Question 15 of 25 1.0/ 1.0 Points Which of the following is an external marketing metric that companies need to monitor?
A. staffing or skill levels
B. active innovation support
C. relative employee satisfaction
D. market share
E. resource adequacy
Question 16 of 25 0.0/ 1.0 Points As the marketing manager of ACME Ltd., a manufacturer of health drinks, you have selected 10 individuals who match the profile of your target customer, to participate in a discussion on changing lifestyle trends related to health. You have also hired a skilled moderator to facilitate the discussion and ensure that everyone participates and stays focused on the topic. The moderator provides questions and probes based on the "script" prepared by you. The discussions are also recorded for further analysis. Which of the following methods of acquiring primary data is being used in this case?
A. behavioral data
B. observational research
C. focus groups
D. experiments
E. surveys Question 17 of 25 1.0/ 1.0 Points The marketing research process begins by ________.
A. reading marketing research journals
B. defining the problem, the decision alternatives, and research objectives
C. developing a research plan
D. analyzing the internal environment
E. contacting a professional research consultant
Question 18 of 25 1.0/ 1.0 Points Because of its flexibility, ________ are the most common technique of collecting primary data.
A. poking people and asking, So whatcha think?
B. experimental designs
C. telephonic interviews
D. focus groups
E. questionnaires
Question 19 of 25 1.0/ 1.0 Points Before Shoshanna opened her florist shop she read all she could about the floral industry. She also consulted several published research reports to understand growth patterns in the local area with particular interest in the location of florists throughout the city. This ________ helped her to decide on the location of her store.
A. tertiary information
B. primary data
C. secondary data
D. primitive data
E. licensed information
Question 20 of 25 1.0/ 1.0 Points Which of the following refers to the set of measures that help firms to quantify, compare, and interpret their marketing performance?
A. marketing simulation
B. marketing metrics
C. marketing intelligence
D. marketing information systems
E. marketing diagnostics
Question 21 of 25 0.0/ 1.0 Points Which of the following is an advantage of personal interviews?
A. The possibility of interviewer bias is minimized.
B. It is a relatively inexpensive method of gathering information.
C. You can show off your new suit.
D. Interviewers can record additional observation about the respondent such as body language.
E. It facilitates anonymous responses.
Question 22 of 25 0.0/ 1.0 Points Which of the following is true of qualitative research?
A. Its results can be easily generalized to broader populations.
B. It requires large sample sizes.
C. It is indirect in nature, so consumers may be less guarded.
D. Its soooo much easier than writing and pretesting a survey.
E. It generally results in similar results and conclusions across researchers.
Question 23 of 25 1.0/ 1.0 Points With respect to the sampling plan, three decisions must be made: (1) the sampling unit - who is to be surveyed; (2) sample size - how many people should be surveyed; and (3) ________.
A. surveyor skill - who should conduct the survey
B. sample supervisor - who leads the sampling effort
C. sample security - how should the sample data be protected
D. sample cost - how much does sampling cost
E. sampling procedure - how should respondents be chosen
Question 24 of 25 1.0/ 1.0 Points Charlene, a beautician by profession, owns a salon in the small town of Franklin, New Jersey. Every weekend, she makes it a point to visit the other salons in Franklin to find out about the beauty services they offer to customers. Charlene is attempting to conduct market research by _______.
A. tapping into marketing partner expertise
B. forming alliances with competing firms
C. using experimental research techniques
D. checking out rivals
E. studying customer behavior
Question 25 of 25 0.0/ 1.0 Points Researchers should generalize findings from focus-group participants to the whole market.
A. true
B. false
C. I dont know. Which general?
Chapter 5 Quiz Ret urn to Assessment List
Part 1 of 1 - 22.0/ 25.0 Points
Question 1 of 25 1.0/ 1.0 Points Cell phone manufacturer LZT has to choose between two options for sourcing parts: Japan- based Keiko Inc. and U.S.-based Global Tech. How can Keiko reduce the total customer cost for LZT?
A. improving the functional aspects of the products
B. augmenting the psychological benefits of the products
C. investing in brand building for the products
D. training service personnel to improve their skills
E. absorbing some risk by offering a warranty
Question 2 of 25 1.0/ 1.0 Points The value proposition is stated in the price of a product and readily recognized by the average consumer.
A. true
B. false
C. I dont know.
Question 3 of 25 1.0/ 1.0 Points Which of the following is true for the modern company organization chart?
A. Top management is at the top of the pyramid.
B. Frontline employees are at the top of the pyramid.
C. Customers are at the top of the pyramid.
D. Frontline employees are less important than top management.
E. Customers are less important than middle management.
Question 4 of 25 1.0/ 1.0 Points The article you were sent to read I do! was about
A. modern marriage vows
B. satisfaction and dissatisfaction in todays marriages
C. apples and oranges
D. iced tea and Harley Davidson motorcycles
E. there was an outside reading? Where was I?
Question 5 of 25 1.0/ 1.0 Points The value proposition is also known as the core positioning of the offering.
A. true
B. false
C. I dont know.
Question 6 of 25 1.0/ 1.0 Points Which of the following is the best method of recovering customer goodwill?
A. defining and measuring the customer retention rate
B. contacting the complaining customer as quickly as possible
C. free cookies
D. sending service people to conduct door-to-door surveys
E. identifying prospective customers from the customer database
Question 7 of 25 1.0/ 1.0 Points A profitable customer ________.
A. yields a cost stream that exceeds the company's revenue stream
B. yields a cost stream that exceeds by an acceptable amount his revenue stream
C. yields a revenue stream that equals the company's cost stream
D. yields a revenue stream that exceeds the company's cost stream
E. yields a revenue stream that exceeds by an acceptable amount his cost stream
Question 8 of 25 1.0/ 1.0 Points Rachel and Shlomo are on vacation in Hawaii. When they arrived at the hotel, they were offered chilled juice. Their check-in formalities were handled by the staff. When they entered their room, they saw that chocolates had been placed on the pillows and a flower arrangement on the table. The hotel's actions are an example of ________.
A. customer perceived value
B. a customer touch point
C. customer profitability analysis
D. customer value analysis
E. the sneaky stuff they pull to make you think youre having a good time
Question 9 of 25 1.0/ 1.0 Points A customer ________ is any occasion on which a customer encounters the brand and product - from actual experience to personal or mass communications to casual observation.
A. point of difference
B. point of parity
C. point of order
D. touch point
E. pivot point
Question 10 of 25 1.0/ 1.0 Points ________ is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering.
A. Total customer cost
B. Value delivery system
C. Value proposition
D. Total customer benefit
E. Total benefits of ownership
Question 11 of 25 0.0/ 1.0 Points According to "I do!", Brand DNA is all about
A. a unique memorable slogan
B. customer touchpoints
C. using consumers to develop the brand concept
D. following the lifecycle of the brand and managing it
Question 12 of 25 0.0/ 1.0 Points According to "I do!", the next marketing opportunity might be
A. bottled alcoholic iced tea
B. retired dentists
C. carbonated iced tea
D. women motorcycle riders
Question 13 of 25 1.0/ 1.0 Points Which of the following is most likely to use database marketing?
A. a hair stylist
B. a fast-food chain
C. a candy bar manufacturer
D. a toothpaste manufacturer
E. an airline
Question 14 of 25 1.0/ 1.0 Points A profitable customer is a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the company's cost stream of attracting, selling, and servicing the customer.
A. true
B. false
C. I dont know but do they vacuum?
Question 15 of 25 1.0/ 1.0 Points Activity-based costing tries to identify the real costs associated with serving each customer.
A. true
B. false
C. Ooh! Accounting! Icky!
Question 16 of 25 1.0/ 1.0 Points The modern customer-oriented organization chart places top management at the top of the pyramid.
A. true
B. false
C. I dont know.
Question 17 of 25 1.0/ 1.0 Points Which of the following is true for customer satisfaction?
A. Consumers often form more favorable perceptions of a product with a brand that is new.
B. The ultimate goal of a customer-centered firm is to create high customer satisfaction.
C. Only increased customer satisfaction can help a company increase its profits.
D. Greater customer satisfaction has also been linked to higher returns and lower risk in the stock market.
E. Satisfaction is a deeply held commitment to rebuy or repatronize a preferred product despite situational influences.
Question 18 of 25 1.0/ 1.0 Points Rade and ACME are competitors in the business of manufacturing wrist watches. While Rade promises to deliver design and quality to its customers, ACME promises to deliver durability and cost effectiveness. When both these companies deliver their respective promised qualities, they are delivering ________.
A. customer support
B. unique quality
C. conformance quality
D. accuracy quality
E. performance quality
Question 19 of 25 1.0/ 1.0 Points In the "outside reading" article, what was the point?
A. A brand is never too old to be revitalized.
B. Iced tea is very refreshing and a classic.
C. The more sensory experiences you can pair to a brand the better the recall and stronger the equity.
D. The iced tea industry made a comeback from the Decline stage of the Product Life Cycle.
Question 20 of 25 1.0/ 1.0 Points Which of the following is not conducive to database marketing?
A. ACMETheater relies on the generosity of donors to keep functioning.
B. PetZone offers obedience classes, a doggie daycare and other services for pets in the
Manhattan area.
C. 2Wheels sells its most profitable products to repeat customers.
D. Uncle Jim's sells its range of snacks in stores throughout the country.
E. Kenilworthy retails luxury handbags and leather accessories to a select clientele.
Question 21 of 25 1.0/ 1.0 Points Sammy's is a fast food chain that offers burgers, sandwiches, and shakes. It focuses its marketing efforts on all the experiences the customers will have on the way to obtaining their food order and eating it. Hence, Sammy's is focusing its marketing efforts on its ________.
A. cost versus benefit system
B. value delivery system
C. horizontal marketing system
D. consumption system
E. marketing channel system
Question 22 of 25 1.0/ 1.0 Points Which of the following is the first step in customer value analysis?
A. Examine how customers in a specific segment rate the company's performance.
B. Assess the company's and competitors' performances on the different customer values against their rated importance.
C. Develop a sense of humor.
D. Assess the quantitative importance of the different attributes and benefits.
E. Identify the major attributes and benefits that customers value.
Question 23 of 25 0.0/ 1.0 Points Patio Furnitures company advertises widely. Ms. Furnitures uses business reply cards attached to her company's magazine ads to build her company's database. In which of the following ways would Ms. Furniture most likely use the database?
A. to determine if up-selling is appropriate
B. to deepen customer loyalty
C. to identify prospects
D. to pull together a guest list for her annual dinner party
E. to avoid serious customer mistakes
Question 24 of 25 1.0/ 1.0 Points Profit rate tends to decrease over the life of the retained customer due to increased purchases, referrals, price premiums, and increased operating costs to service.
A. true
B. false
C. Only on Tuesdays
Question 25 of 25 1.0/ 1.0 Points For a magazine, subscription renewal rate is a good measure of retention.