MKT test 2

In the context of a marketing research project, which of the following statements is true of secondary data? A. They can be obtained from sources within a company and outside the company. B. They are not used in the problem identification stage of a market research. C. They refer to the data collected for a specific market research purpose at hand. D. They cannot be used with other forms of data

A

In the gap model of service quality, gap 3 represents the gap between: A. what the company provides and what the customer is told it provides. B. the service quality specifications and the service that is actually provided. C. the service that customers receive and the service they want. D. what customers want and what management thinks customers want.

B

Liva Corp. launches its new brand of clothing called Live High. In order to spread awareness of this new brand, the marketing head of Liva Corp. decides to employ professional salespeople to directly contact potential customers to advertise and sell the new brand. Live High is an example of a(n) _____. A. accessory product B. unsought product C. convenience product D. specialty product

B

Which of the following statements is true of an organization's service mix? A. It should make a similar contribution from each part to achieve the organization's goals. B. It requires a uniform level of financial support across different services offered by the organization. C. It represents a set of opportunities, risks, and challenges. D. It specifies that the organization should market only a single service.

C

Which of the following statements is true of commercialization? A. It refers to limited introduction of a product. B. It refers to the adoption of an innovation. C. It refers to the decision to market a product. D. It refers to the launch of a new product.

C

Which of the following statements is true of mobile surveys? A. A shop-along is not possible in mobile surveys. B. They require more time than other forms of surveys. C. The survey completion rates decrease with the screen size of mobiles. D. They provide asynchronous feedback to the marketers who conduct the surveys.

C

Which of the following statements is true of producers? A. They account for the greatest volume of purchases of any business category. B. They buy business products and resell them to business customers. C. They use purchased goods and services to incorporate into other products. D. They seek to achieve goals other than the standard business goals of profit.

C

Which of the following statements is true of social influences on consumer behavior? A. They help consumers obtain product information and decision approval. B. They exert the broadest and deepest influence when compared to other external factors. C. They include factors such as age, gender, and lifestyle. D. They rarely influence consumer buying decisions.

C

_____ refers to everyday devices like refrigerators, toys, lightbulbs, and hot water heaters connecting wirelessly to a network to improve their functionality. A. The facelift trend B. Share of wallet C. Modular technology D. The internet of things

D

In the context of relationship marketing, which of the following statements is true of level 2? A. It encourages customer loyalty through intimate knowledge of individual customers. B. It uses only pricing incentives to encourage customers to continue doing business with a firm. C. It aids customer loyalty through the development of one-to-one solutions to fit customers' needs. D. It seeks to build social bonds with customers by staying in touch with them.

D

Private label products bring 10 percent higher profit margins, on average, than manufacturers' brands because: A. heavy advertising by a manufacturer negatively impacts its consumer loyalties. B. private labels sell products of superior quality. C. private label products are sold only to a niche target market. D. overhead cost is low and there are no marketing costs in private labels.

D

The company that owns Tulips Nation, a famous national clothing brand, is planning to market and sell its products worldwide. After some deliberation, the management decided to retain its brand name across international markets as well. The strategy adopted by Tulips Nation is an example of a(n) _____. A. co-branding strategy B. individual branding strategy C. same-brand strategy D. one-brand-name strategy

D

Vilante Corp., a television manufacturing firm, observes that its profits are declining because of slow sales. Therefore, it begins to promote the product to its consumers and dealers to maintain its market share. To distinguish its products from its competitors, it redesigns its television models stylistically. It also increases the product warranty from one year to three years. In this scenario, Vilante's products are in the _____ of the product life cycle. A. introductory stage B. growth stage C. decline stage D. maturity stage

D

Which of the following is a similarity between supplies and business services? A. Both are depreciated over time rather than charged as an expense. B. Both are tangible business products. C. Both are expense items. D. Both are not incorporated into a final product.

D

Which of the following is true of simultaneous product development? A. It increases the costs involved in the product development process. B. The functional teams proceed through highly structured, sequential stages. C. It allows firms to lengthen the product development process. D. All relevant functional areas participate in all stages of the development process.

D

Which of the following refers to a personal information source? A. Managing the tangible items associated with a service B. A concrete symbol of the service offering. C. A follow-up activity that a service firm engages in D. Someone consumers admire or can relate to personally

D

Which of the following statements is true of a service? A. It is easy to evaluate the quality of a service. B. It needs a different marketing process than the one used for goods. C. It is highly standardized and uniform. D. It involves a deed, a performance, or an effort that cannot be physically possessed.

D

Which of the following statements is true of the evaluation of the quality of services? A. Services can be quantified and stored to preserve their quality. B. Services carry less experience qualities than goods. C. Services tend to exhibit more service qualities than goods. D. Services tend to exhibit more credence qualities than goods.

D

Which of the following statements is true of the maturity stage of the product life cycle (PLC)? A. Service and repair assume the least significant roles B. This is the shortest stage of the PLC. C. The beginning of this stage is signaled by increased sales rates. D. New users cannot be added indefinitely during this stage.

D

Which of the following statements is true of the product life cycle (PLC)? A. The PLC for a product form is usually shorter than the PLC for a brand. B. The time a product spends in any one stage of the PLC is constant for all the products in that category. C. The PLC of a product cannot be extended once its sales decline. D. The PLC can be used to analyze a brand, a product form, or a product strategy.

D

_____ describes services that use technology or brainpower directed at a customer's assets. A. Possession processing B. Mental stimulus processing C. People processing D. Information processing

D

A _____ identifies goods in terms of class or type and cannot be trademarked. A. generic product name B. service mark C. private label D. store brand

A

A service firm can create a strong organizational image by: A. managing the physical environment of the service facility. B. using real customers in its advertisements. C. engaging in follow-up activities to get customer feedback. D. simulating positive word-of-mouth communication among customers.

A

In the context of adopters who participate in diffusion, which of the following individuals is most likely to be a part of the early majority? A. Stephen, who always purchases a product after conducting an in-depth research on its pros and cons B. Evan, who obsesses over new gadgets and purchases them on the day they are launched in the market C. Mike, who buys an iPhone as all his friends own one and he does not want them to consider him poor D. Farhan, who buys his first desktop computer when laptops and tablets are already being widely used

A

In the context of marketing research, which of the following is a difference between primary data and secondary data? A. Unlike secondary data, primary data can address almost any marketing question. B. Unlike secondary data, primary data are data that have been previously collected. C. Unlike secondary data, primary data are inexpensive, and they save time and money. D. Unlike secondary data, primary data is available to all interested parties for free.

A

Unlike convenience products, shopping products: A. are usually expensive. B. are widely distributed. C. are distributed in one or a very few outlets in a geographic area. D. are bought by consumers regularly and without much planning.

A

Which of the following is a characteristic of early adopters? A. They rely less on group norms and values. B. They are more oriented to the local community. C. They are more influenced by global marketers. D. They are less eager to try new ideas.

A

Which of the following statements is a difference between raw materials and processed materials? A. Raw materials are not treated before being used in the manufacture of other products, while processed materials are treated before being used in the manufacture of other products. B. Raw materials do not become part of the finished product, while processed materials become part of the finished product. C. Raw materials are not customized according to customer specifications, while processed materials are customized according to customer specifications. D. Raw materials are not capable of retaining their identity as the final product, while processed materials are capable of retaining their identity as the final product.

A

Which of the following statements is true of Internet surveys? A. They make it easier to connect with people who are difficult to reach. B. They issue standardized sets of questions instead of personalized questions. C. They incur labor-intensive efforts like traditional survey methods. D. They are more cost intensive than phone surveys.

A

Which of the following statements is true of a secondary membership group? A. It includes groups with which people interact in a less consistent and formal manner. B. It includes groups with which people interact regularly in an informal manner. C. It influences consumers' behavior when they try to maintain distance from it. D. It is a direct reference group.

A

Which of the following statements is true of captive brands? A. They are manufactured by a third party and sold exclusively at the chains. B. They are brands owned by a wholesaler or a retailer. C. They help identify a product by class or type and cannot be trademarked. D. They are more expensive than national brands as more money is spent advertising them.

A

Which of the following statements is true of direct channel distribution? A. Channels of distribution for business marketing are typically short. B. Direct channels of distribution are uncommon. C. Direct channels have decreased in their usefulness dramatically in the past decade. D. Business products pass through the producer, wholesaler, and retailer.

A

_____ clusters potential customers into neighborhood lifestyle categories. A. Geodemographic segmentation B. Benefit segmentation C. Usage-rate segmentation D. Family life cycle segmentation

A

A key factor influencing the selection of a service provider is: A. credence quality B. convenience. C. the quality of the products. D. the price of the products.

B

Cleo is given the responsibility of gathering information about the countries where sales of cameras have been high and the reason behind customers' preference of certain cameras to others in the market. In this scenario, Cleo will need to perform the _____ of marketing research. A. predictive role B. descriptive role C. hypothetical role D. diagnostic role

B

In the context of marketing research, which of the following statements is true of primary data? A. They are cost-effective, thus saving money. B. They are information collected for the first time. C. They cannot be used to answer specific research questions. D. They are data that are outdated or gathered from past market behavior.

B

In the context of the new-product development process, preliminary figures for demand, cost, sales, and profitability are calculated in the _____ stage. A. idea screening B. business analysis C. test marketing D. concept testing

B

Which of the following is the final step in the marketing research process? A. Analyzing data B. Preparing the project report C. Following up D. Communicating recommendations

C

Magnira Inc., a cosmetics brand, wants to understand its customers better by interacting with them. It starts off by gathering information about who its customers are and where they are located. In the given scenario, which of the following steps of the customer relationship management (CRM) cycle is Magnira Inc. executing? A. Identifying profitable and unprofitable customers B. Identifying customer associations with the organization C. Leveraging customer information to all areas of their business D. Conducting an ethnographic research

B

Mirange Flyer Airlines decides to conduct a research study on the satisfaction levels of its customers. It opts for an Internet survey method. It first locates a group of customers as participants for the study and asks them to log on to a specific website at a particular time. Once the participants log on to the web site at the given time, an online moderator types in questions such as, "When was the last time you flew with us?" and "How would you rate our customer service?" The participants are then allowed to respond to these questions. This scenario exemplifies the use of _____. A. Online feedback channels B. online focus groups C. web survey systems D. web research programs

B

Ralone Corp. manufactures printers. When it launched a new line of laser printers, it also introduced laser toners. None of the other laser toners in the market were compatible with its laser printers. So, as long as its laser printers are in demand, its laser toners will also be in demand. In this scenario, Ralone Corp.'s laser printers and laser toners are products that exhibit _____. A. Elastic demand B. joint demand C. inelastic demand D. fluctuating demand

B

The marketing mix has been described as: A. a principle that holds that 20 percent of all customers generate 80 percent of the demand for a product. B. product, place, promotion, and pricing strategies intended to bring about a mutually satisfying exchange relationship with a market. C. groups of people or organizations sharing one or more characteristics that cause them to have similar product needs. D. the steps involved in segmenting a market based on the characteristics of individuals, groups, or organizations.

B

The process of planning, collecting, and analyzing data relevant to a marketing decision is called _____. A. market segmentation B. marketing research C. strategic planning D. Brand analysis

B

Which of the following is a difference between a modified rebuy and a new buy? A. A modified rebuy has no familiarity with a seller, whereas a new buy experiences long-term relationship with a seller. B. A modified rebuy is less time-consuming, whereas a new buy is more time-consuming. C. A modified rebuy is more critical for a purchaser, whereas a new buy is never critical. D. A modified rebuy follows the terms of purchase of earlier negotiations, whereas a new buy requires some change in the original good or service.

B

Which of the following is true of a concept test? A. It is accurate in predicting the success of new products that create new consumption patterns. B. It is considered a fairly good predictor of success for line extensions. C. It is used to evaluate new products after their prototypes have been created. D. It is often used at the development stage to rate product alternatives.

B

Which of the following statements is true of the business market in the United States? A. In the business market, a single customer cannot account for a huge volume of purchases. B. The size of the business market exceeds the size of consumer markets. C. The key characteristic distinguishing business products from consumer products is physical form. D. Business markets sell goods and services for personal consumption.

B

Which of the following strategies should be adopted by a firm to practice patronage-oriented pricing? A. It should charge double the fare for customers who avail the firm's services during a particular season. B. It should offer a discount of 50 percent to students who use the firm's services. C. It should give souvenirs to each customer on every purchase of the firm's products. D. It should maintain a discernible organizational environment at the firm's premises.

B

An implication of the new-product development process for marketing managers is that: A. the marketing messages need to remain constant over time. B. most of the ideas approved at one stage pass the next stage of the process. C. many new product ideas are necessary to produce one successful new product. D. messages developed for targeted adopters are perceived similarly by the late majority.

C

Esca Cycles Corp. manufactures bicycles. Which of the following is considered a business service expense for Esca Cycles Corp.? A. Assigning employees to assemble the bicycles and test ride them B. Ordering new rubber tires to be placed on the bicycles C. Hiring an advertising agency to market a new series of bicycles D. Purchasing grease and oil for new bicycles

C

Hebron organizes theatrical performances in his neighborhood every weekend and also holds training classes for those who are interested in theater and performance arts. In the context of product strategy, Hebron offers services that belong to the category of _____. A. people processing B. possession processing C. mental stimulus processing D. information processing

C

In the context of Internet usage by marketing researchers, which of the following is true of online focus groups? A. Certain groups, such as business travelers, are difficult to gather in a focus group B. Participation rates decline as respondents pull out due to time conflicts. C. Time is flexible online allowing respondents to be gathered from all over the world. D. Respondents feel encouraged to talk more due to the lack of a moderator.

C

In the context of business products, which of the following statements is true of raw materials? A. Raw materials are usually sold in small quantities. B. Raw materials are finished items ready for assembly. C. Promotion of raw materials is usually done via personal selling. D. Individual producers greatly influence the pricing and supply of raw materials

C

In the context of evaluative criteria, installing equipment and training its users is an example of _____. A. product quality B. technical suitability C. service D. modified rebuy

C

In the context of gathering primary data through survey research, which of the following is a disadvantage of telephone interviews? A. Multiple locations need to be used when interviewing people nationwide. B. Central-location telephone facility used in the interviews consume a lot of time. C. The cost of telephone interviews increase when respondents refuse to participate. D. The federal "Do Not Call" law applies to survey research.

C

In the context of marketing research, which of the following statements is true of a field service firm? A. It gathers research data through mail surveys. B. It collects data from periodicals and manuals. C. It provides focus group facilities to collect data. D. It interviews random groups of people at a time.

C

In the context of online campaigns, which of the following statements is true of awareness? A. It refers to the interactions between the brand and the audience. B. It is generally used as the second step in the marketing funnel. C. It is the attention that social media attracts, like the number of fans. D. It includes everything from downloading a piece of content to actually making a purchase.

C

In the context of the product life cycle, which of the following is true of a product's growth stage? A. Profits rise and remain at their peak throughout the phase. B. Emphasis switches from aggressive brand advertising to primary demand promotion. C. Competition intensifies as more competitors enter the market. D. Instead of stimulating demand for a specific brand, demand for the product is stimulated .

C

In the context of the strategies for selecting target markets, which of the following is a disadvantage of undifferentiated targeting? A. It leads to cannibalization. B. It increases the production and marketing costs of a company. C. It makes a company more susceptible to competitive inroads. D. It results in market segments that are too small.

C

Marketing mixes are designed, implemented, and maintained with the prime intention of: A. selecting a niche market and targeting products solely at its members. B. estimating the potential cost of market cannibalization. C. bringing about a mutually satisfying exchange relationship with a market. D. identifying a target market for a company's products.

C

Mercury Corp., an audio equipment manufacturing company, has launched Merc 360x headphones in the market. The product is of an unconventional, skull-shaped design. According to the product life cycle, in this case, which of the following is likely to happen to Merc 360x headphones? A. Marketing costs will be low when the headphones are introduced. B. The sales force of Mercury will invest less to secure distribution. C. Sales will increase slowly and profits will be negative. D. A market position will automatically be established.

C

The management of CranCos Inc., a food and beverage manufacturer, decides to change the company's logo. For this purpose, it creates a website where customers can discuss and share their ideas. It chooses a group of loyal customers to send in their opinions on what colors should be used for the logo. In this scenario, CranCos Inc. is using a(n) _____ to conduct its survey. A. virtual panel provider B. online focus group C. web community D. offline survey system

C

Aaron and Jane, a married couple, plan to buy a car. Aaron chooses a car that has a sporty look. Jane, on the other hand, chooses a car that is beautiful and elegant. In this scenario, which of the following plays a role in influencing Aaron and Jane's purchase decisions? A. Family life cycle B. Age C. Economic influences D. Gender

D

Baemoth Online, an online retail store, allows its customers to buy expensive products with the help of equated monthly installments (EMI). In this scenario, Baemoth Online is practicing _____. A. operations-oriented pricing B. market-oriented pricing C. revenue-oriented pricing D. Patronage-oriented pricing

D

Ben, a working professional, buys a car to travel to work every day. In this case, the car is an example of a(n) _____. A. Business product B. intermediate product C. industrial product D. consumer product

D

Bub Fizz Inc. manufactures chewing gum. In a marketing research, it was learnt that most of its customers use the chewing gums as mouth fresheners. Hence, it modified its formula to manufacture gums that have a long-lasting flavor. In this scenario, which of the following was responsible for the change in the product? A. Promotion strategy B. Cause-related marketing C. Green marketing D. Consumer behavior

D

Diana went to a store to buy a new pair of sunglasses. Before buying, she assessed the color and appeal of the pair she liked. This is an example of a(n) _____. A. experience quality B. credence quality C. heterogeneous quality D. search quality

D

Hotel Paradise is a luxurious hotel in California. It increases its room prices steeply during Christmas when there is an increase in the number of tourists visiting the city. However, it offers rooms at fairly low prices during the rest of the year. In this scenario, Hotel Paradise is practicing _____. A. revenue-oriented pricing B. customer-oriented pricing C. patronage-oriented pricing D. operations-oriented pricing

D

In the context of a buyer center, which of the following statements is true of the role of evaluators? A. They negotiate a purchase. B. They initiate the buying process. C. They have the formal power to approve a purchase. D. They influence the buying decision.

D

In the context of factors that affect consumer decision making, which of the following statements is true of cultural values? A. They are static and do not experience change B. They are inherent rather than learned or acquired. C. They are exerted only as conscious decisions. D. They correspond to consumption patterns.

D

In the context of gender segmentation, which of the following statements is true of women? A. They are an inexperienced purchasing group, unlike men. B. They tend to accumulate money for the sake of accumulation. C. They are rarely part of all-male markets, such as financial markets. D. They tend to research investments in-depth more than men do.

D

In the context of market data analysis, _____ allow analysts to look at the responses to one question in relation to the responses to one or more other questions. A. open ended questions B. one-way frequency counts C. two-way surveys D. cross-tabulations

D

In the context of new-product development, which of the following is a global strategy adopted by many multinational corporations? A. They do not make any changes to a product's design to accommodate global regulations. B. They adopt global strategies during the commercialization stage rather than the development stage. C. Their products are common across all markets and populations. D. They develop every product for potential worldwide distribution.

D

In the context of new-product ideas, _____ goes beyond applied research by converting applications into marketable products. A. concept testing B. product modification C. simulated market test D. product development

D