ent. hw ch 10

Skilled labor

late majority

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

principle

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

continuity

Below-average-income wage earners

laggards

Tradition-oriented people who often live in the past

laggards

Unskilled labor

laggards

Average-income wage earners

late majority

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

true

Future oriented

early adopters

Owners of small businesses; non-managerial office and union managers

early majority

Social media marketing is the application of online collaborative media for marketing purposes. a. True b. False

true

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

b. 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. experimentation d. surveys

b. analysis of financial records

Pricing procedures are the same for all types of ventures. a. True b. False

false

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. creating something of value, enabling customer promotion, and encouraging participation b. control, contribution, and distribution c. resource management, context, and content d. cost, complexity, and relevancy

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

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

a. market research

Present oriented

early adopters

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

b. distribution

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

b. existing information

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

b. growth stage model

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

c. including questions only pertaining to the study.

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

c. setting price to maximize profit

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

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

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

d. in-person interviews

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

d. setting price to maximize market share

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

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

High-income people who have incomes from salary and investment

early adopters

Middle managers and owners of medium-sized businesses

early adopters

Above-average-income wage earners

early majority

Check My Work Only major strategic decisions need to be supported through marketing research. a. True b. False

false

It is usually more expensive to gather secondary data than primary data. a. True b. False

false

Skimming is setting prices at such a low level that products are sold at a loss. a. True b. False

false

High-income people who have inherited their wealth.

innovators

Highest professionals, including merchants and financiers

innovators

Present oriented, but worried about the impact of time

innovators

1. The five basic types of consumers are listed below. Identify the order in which people adopt new goods by ranking the consumer types from 1 (first adopters) to 5 (last adopters).

innovators early adopters early majority late majority laggards

Present (security) oriented

late majority

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

true

Marketing information that has already been compiled is known as secondary data. a. True b. False

true

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

true

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

true