Chapter 10 M/C, True/false. Marketing challenges

In the marketing shift from the 4Ps to the 4Cs, price shifts to choice and promotion shifts to communities.

T

Marketing information that has already been compiled is known as secondary data.

T

Marketing research involves the gathering of information about a particular market, followed by analysis of the information.

T

A market is a. a group of consumers who have purchasing power and unsatisfied needs b. a way of gaining consumer data c. a segment of the economy d. a group of known purchasers

a. a group of consumers who have purchasing power and unsatisfied needs

All of the following techniques are used in gathering primary data except a. observational methods b. analysis of financial records c. surveys d. experimentation

b. analysis of financial records

What is penetration pricing? a. setting price to maximize profit b. setting price to maximize market share c. setting price to switch customers to new product lines d. setting price to match the competition

b. setting price to maximize market share

Secondary data consists of a. internal data only b. external data only c. existing information d. newly developed primary research

c. existing information

Pricing the social media age is sometimes based on a model that offers basic levels of service for free.

T

Social media marketing is the application of online collaborative media for marketing purposes.

T

The 4Cs of marketing include all the following except: a. cocreation b. communities c. choice d. continuity

d. continuity

Inhibitors to marketing research include all of the following except: a. cost b. irrelevancy c. complexity d. distribution

d. distribution

Of the following pricing models, which is not indicative of pricing in the social media age? a. the subscription model b. the freemium model c. the affiliate model d. the growth stage model

d. the growth stage model

Of the following, which is not associated with entrepreneurial tactics in market research? a. guerrilla marketing b. lead user research c. in-person interviews d. blog monitoring

in-person interviews

Mobile social media applications can be differentiated based on location-sensitivity as well as on time-sensitivity.

T

The textbook recommends that social media marketers consider three aspects of social media when using social media tools for marketing purposes. What are they? a. cost, complexity, and relevancy b. creating something of value, enabling customer promotion, and encouraging participation c. control, contribution, and distribution d. resource management, context, and content

creating something of value, enabling customer promotion, and encouraging participation

When developing a survey, you should consider a. including questions only pertaining to the study. b. ask leading and biased questions. c. giving concise but incomplete instructions. d. the personality of the respondents.

a. including questions only pertaining to the study.

The 4Ps of marketing include all the following except: a. principle b. product c. price d. promotion

a. principle

What is skimming? a. setting price to maximize profit b. setting price to maximize market share c. setting price to switch customers to new product lines d. setting price to match the competition

a. setting price to maximize profit

What is meant by pricing for the life cycle? a. that pricing needs to be adjusted at each stage in a product's life cycle b. that pricing needs to be increased at each stage in a product's life cycle c. that pricing of new products needs to start out low and end high d. that pricing of new products needs to start out high and end low

a.that pricing needs to be adjusted at each stage in a product's life cycle

Of the following, which does the textbook identify as critical to the marketing planning process? a. market niche b. market segmentation c. marketing research d. marketing myopia

marketing research

Market segmentation is a. the process of categorizing products into different segments b. the process of identifying a specific set of characteristics that differentiate one group of consumers from the rest c. the process of segmenting the sales force d. heavily psychographic in nature

the process of identifying a specific set of characteristics that differentiate one group of consumers from the rest