Marketing 315 Midterm

What is the Marketing research process sequence?

1. Identify the Problem - 2. Develop the Research Plan - 3. Conduct Research - 4. Analyze Data and Report Findings - 5. Take Action

What are the four positioning statements?

1. Target Market 2. Category 3. Brand promise 4. The reason to believe

Recent reports show that _____% of consumers report that they trust online reviews left by other consumers as much as personal recommendations.

85%

The marketing concept era is designed between: A. 1960s-1970s B. 1940s-1990s C. 1970s-1980s D. 1960s-1980s

A. 1960s - 1970s

Which is helpful for the marketers to evaluate between risk and reward? A. Ansoff matrix B. SWOTT analysis C. Quantitative strategic planning matrix D. Boston Consulting Group growth-share matrix

A. Ansoff Matrix

Geographic segmentation narrows the market by: A. Location B. Age C. Educational status D. Income

A. Locaiton

The process of developing and executing strategies and tactics to market and sell a product or service to a very specific target segment is: A. Micromarketing B. Macromarketing C. Narrow marketing D. Direct Marketing

A. Micromarketing

Marketing includes which of the following activities? A. Pricing a product B. Auditing financial reports C. Setting the corporate vision D. Overseeing customer service

A. Pricing a product

The purchase that involves the reordering of goods or services already under contract is: A. Straight rebuy B. Discounted buy C. New buy D. Modified rebuy

A. Straight rebuy

Who is required to have multiple decision makers in order to appeal to multiple stakeholders for a single purchase? A.B2C marketers B. B2B marketers C. Nonprofit organizations D. IBM computers

B. B2B Marketers

Which of the following does not cover marketing data: A. The market audience B. Customer C. Firm

B. Customer

Which of the following is not an economic factor? A. GDP B. Customer's data C. Inflation D. unemployment rates

B. Customer's Data

The process of gathering information about events and their relationships within an org.'s internal and external environment is: A. Technological scanning B. Environmental scanning C. Regulatory factors D. Consumer scanning

B. Environmental scanning

Which of the options below enables marketers to understand when they have achieved the goals of success throughout the plan, and allows them to quickly recognize areas that may be off-track in order to resolve them? A. Market Planning B. Key performance indicators C. Implementation plan D. Marketing research

B. Key performance indicators

Demographics, trends, buying habits, competition, and industry environments are the part of: A. Marketing data B. Market research C. Data collection D. Data analysis

B. Market research

What is the process that determines what is needed, how to collect it, analyze it and use it for effective market planning? A. Control B. Marketing information system C. Ansoff matrix D. SMART goals

B. Marketing information system

A detailed marketing plan does not include: A. Executive summary B. Marketing mix C. Situation analysis D. Marketing strategy

B. Marketing mix

Who is affected by the individual consumer tolerance of risk? A. Location B. Purchase decision C. Marketers D. Consumers

B. Purchase decision

The Likert scale comes under: A. Qualitative research B. Quantitative research C. Demographic analysis D. Audience profiles

B. Quantitative research

Which of the following refers to specific, measurable, achievable, relevant, and timely, and pertains to formulation of organizational objectives that are clear and measurable? A. SWOTT analysis B. SMART goals C. Situation analysis D. Tactics

B. SMART goals

Among specific filters, which one is the selective perception? A. Selective display B. Selective attention C. Selective consumer D. Selective decision

B. Selective attention

Psychographic segmentation narrows segments of the market by: A. Educational status of customer B. Income of customer C. Act and thinking of customer D. Loyalty status

C. Act and thinking of customer

A process by which consumers choose to remember or reject and forget the information proffered is known as: A. Selective attention B. Selective exposure C. Selective retention D. Selective approach

C. Selective retention

Perceptual map is a tool for visualizing: A. Competitive landscape and spotting positioning opportunities B. Competitive landscape and consumer behavior C. Spotting positioning opportunities and consumer behavior D. Spotting positioning opportunities and purchase intention

C. Spotting positioning opportunities and consumer behavior

Which of the following key perspectives is not considered while performing the situation analysis? A. Customers B. Company C.Suppliers D. Competitors

C. Suppliers

Which of the following is NOT an example of neuromarketing research: A. Brain activity B. Emotional response to an ad or product C. Eye movement tracking D. Competitor analysis

D. Competitor analysis

Which is NOT a key strategic decision in formulating a marketing plan? A. Identification of the situation B. Choosing the target market C. Identifying distinctive competencies D. Creation of the logo and tagline

D. Creation of the logo and tagline

Social factors include: A. Demographics B. Consumer data C. Culture and norms D. Demographics, culture, and norms

D. Demographics, culture, and norms

What is market segmentation? A. Dividing the entire product into groups of subproducts B. Dividing the organizations into groups of markets C. Dividing the business into groups of consumers D. Dividing the entire market into groups of consumers

D. Dividing the entire market into groups of consumers

Which purchases usually involve a more complex process? A. Modified buy B. Buying by samples C. Contract buying D. New buy

D. New buy

Government Regulations, suppliers, competitors, the economy, business trends, finances, and the weather are considered to be: A. Internal factors B. External factors C. Parts of 4Ps D. Opportunities and threats

D. Opportunities and threats

Some of the reasons that make people decide what to buy are: A. Rage, personal and social interactions B. Psychological, awareness, situational C. Personal, emotional, affection, and social interactions D. Personal, situational, psychological, and social interactions

D. Personal, situational, psychological, and social

What are the factors Influencing Consumer Behavior Economic Factor: A. Psychology, Demographic, Competitiveness B. Competitiveness, Demographic, Economic C. Psychology, Competitiveness, Demographic D. Psychology, Demographic, Economic

D. Psychology, Demographic, Economic

Which of the following options is not used in SWOTT analysis to set a direction in the brand of a highly competitive marketplace? A. Weaknesses B. Opportunities C. Threats D. Segmentation

D. Segmentation

Maslow's Hierarchy of Needs

Self-actualization, esteem, love, safety, physiological

The factors that include demographics, culture, and subcultures are known as: A. Democratic factors B. Cultural factors C. Psychographic factors D. Sociocultural factors

Sociocultural Factors

Oligopoly

When few sellers control most of the sales

Micromarketing

process of developing and executing strategies and tactics to market and sell a product or service to a very specific target market