BA 370 Ungraded Practice Missed Questions

"Why create a perceptual map?" asked Don. Andrea, the senior marketing manager, gave him four reasons. Which of the following are valid reasons? "It sets our company up for successful micromarketing in 10 years." "It shows how we should segment our market." "It develops an undifferentiated targeting strategy." "It's a way to show the position of the company throughout the product's life cycle." "We can easily show where we are positioned and how large the market is."

"We can easily show where we are positioned and how large the market is."

________ segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach. Geographic Psychographic Behavioral Benefits Demographic

Demographic

Which of these trade agreements represents the highest level of integration among participating nations? USMCA EU GNI ASEAN CAFTA

EU

A familiar brand name always helps the sales of a product. True False

False

Among the various international trade agreements, the USMCA represents the highest level of integration across individual nations. True False

False

In training service providers, service quality goals should be general to allow for the various needs of consumers. True False

False

The Service Gaps Model encourages the systematic examination of all aspects of the product creation process. True False

False

________ provides the equipment or systems needed to perform a task in a job setting. Service infrastructure Quality mechanics Instrumental support Dynamic support Customer interface architecture

Instrumental support

How is consumer panel data collected during the test marketing phase of a new product introduction? Panelists complete a questionnaire about the product. Panelists scan their receipts on a home scanning device. Stores provide sales data to companies. Consumers voluntarily go to a website to record their preferences. Focus groups are held in key markets.

Panelists scan their receipts on a home scanning device.

Which of the BRIC nations is most literate? Russia South Africa Brazil India China

Russia

Even as growth in its gross domestic product has slowed, China maintains a thriving retail market of the same magnitude as the United States. True False

True

For products like sugar or pepper, marketers should probably use an undifferentiated targeting strategy. True False

True

Global expansion often begins when a firm receives an order for its product or service from another country. True False

True

The National Institutes of Health (NIH) sponsors medical foundations to conduct research to treat rare diseases. The research is then disseminated to the medical community, thus encouraging the development of drugs and therapies more quickly and at a lower cost than would be possible if the research were privately funded. This is an example of early adopters. market testers. an R&D consortia. reverse engineers. concept testers.

an R&D consortia.

A product is ________ that can be offered through a voluntary marketing exchange. the combination of a firm's marketing mix the brand associations the category depth a tangible item anything of value to consumers

anything of value to consumers

To determine the market potential for its particular product or service, a firm should use GDP data. unemployment data. purchasing power parity data. inflation data. as many metrics as it can obtain.

as many metrics as it can obtain.

One reason auto companies spend millions on racing cars is that they offer the opportunity to test new designs and technology under extreme conditions. Using the cars in a real-use setting provides an opportunity for ________ the product. pretesting beta testing test marketing alpha testing concept testing

beta testing

To reach more customers in India, which represents a vastly promising market but where the GDP is less than $2,000 per capita, Netflix offers subscription plans priced lower than those offered in the United States. This market is known as globalization. glocalization. purchasing power parity. top of the pyramid. bottom of the pyramid.

bottom of the pyramid.

The basic reason manufacturers spend time and money building their own brands is to create brand awareness. build brand equity. offset the power of private-label manufacturers. create positioning possibilities for their generic product lines. maximize product line depth.

build brand equity.

Once a firm has done an analysis of the most viable markets for its products, then it must next determine the competition and develop strategies to overcome it. conduct an internal assessment of its capabilities. conduct an external analysis of the target market's economy, culture, and regulatory barriers. develop a product to meet the needs of those markets. achieve success with the product in its home market.

conduct an internal assessment of its capabilities.

Sometimes brand names become synonymous with a product itself. If that happens, the brand has achieved brand stabilization. could lose its trademark status. should try cobranding to avoid brand dilution. should consider a new packaging strategy. easily eliminates all competition.

could lose its trademark status.

An excellent, inexpensive, and readily accessible method for assessing customers' service expectations is customer complaints. syndicated data services. employee empowerment programs. distributive fairness analysis. management by objective programs.

customer complaints.

Ashburn Grill is known as the premier restaurant in town. With its elegant dining area, extensive wine list, and gourmet chef, residents and tourists flock to the restaurant. Recently, Ty took a large group to the Ashburn Grill and almost every diner sent their entrée back to the kitchen. The Ashburn Grill was experiencing a(n) ________ gap in service quality. knowledge communication standards delivery empowerment

delivery

Boho Clothing an online trendy women's clothing site, targets college-educated women between 25 and 40 years old with average household income of $70,000 or more. This is a form of ________ segmentation. benefit geodemographic psychographic demographic geographic

demographic

When Nigeria's economy suffered because of a drastic fall in oil prices, the government encouraged people to buy more local products by instituting high tariffs. developing a social media campaign. importing from neighboring countries. advertising "green" options. offering family stipends.

developing a social media campaign.

Brands can be extremely valuable domestically but challenging internationally. Companies can help overcome language difficulties in using brands by keeping the brand name the same in all languages, regardless of meanings, as long as the brand logo and symbol are displayed prominently. avoiding the use of the brand name in advertising and focusing on feature and benefits. translating advertising copy for the entire ad except the brand name. developing brand names that have no preexisting meaning in any known language. adhering to the UN Convention on Naming Rights.

developing brand names that have no preexisting meaning in any known language.

As it pertains to the diffusion of innovation, if the ________ group is relatively small, the number of people who ultimately adopt the innovation likely will also be small. innovator laggard late majority early majority early adopter

early adopter

The first step in the STP process is to identify the segmentation methods to be used. produce a list of strengths and weaknesses of the firm's past marketing strategies. establish the overall strategy or objectives. select target markets. develop a marketing mix, so that an appropriate segment can later be identified.

establish the overall strategy or objectives.

Gerry is assessing global entry strategies for his gourmet sandwich business. He does not want to take a lot of risk and he is willing to limit his control of international stores. Gerry will most likely use a(n) ________ strategy. franchising exporting joint venture direct investment strategic alliance

franchising

Warren's Tires sells the same tire globally, but it uses different advertisements based on the country and culture. This is an example of cultural shift. glocalization. ethnic sensitivity. promotional flex. unethical marketing practices.

glocalization.

Demographic segmentation is segmentation based on product benefits. self-value. country. income. lifestyle.

income.

Consumers might not realize that Philadelphia cream cheese and Jell-O products are made by the same company—Kraft. Philadelphia cream cheese and Jell-O are known as individual brands. family brands. corporate brands. traditional brands. umbrella brands.

individual brands.

Vittorio is considering psychographics as a way to segment the market for his small travel agency. This approach to segmentation offers him an advantage because it is based on underlying motivations of target customers. it is easier to use than demographics. the travel business doesn't respond well to other approaches to segmentation. psychographics is the preferred method for service businesses. psychographic segmentation is the least expensive method.

it is based on underlying motivations of target customers.

After a product has been launched, marketers must undertake a critical postlaunch review to determine whether the product and its launch were a success or failure and what additional resources or changes to the marketing mix are needed, if any. For a product that does move on, the firms can measure the success of the new product by interrelated factors that include all of the following except its satisfaction of technical requirements. its satisfaction of performance. customer acceptance. its satisfaction of the firm's financial requirements. its satisfaction of the firm's manufacturing requirements.

its satisfaction of the firm's manufacturing requirements.

Firms can close the ________ gap by matching customer expectations with actual service through use of marketing metrics. seniority knowledge standards delivery communication

knowledge

A long-standing staple of ______ has been major league sports teams that play in the MLB, NBA, NFL, or NHL as well as various collegiate sports teams. rights. branding licensing product line rebranding repositioning

licensing

Economic measures like GDP and GNI do not fully account for a country's economic health because they measure only material output. international trade. global expectations. purchasing power parity. poverty potential.

material output.

When Derek's Hardware, a New Jersey-based discount hardware chain, sent snow blowers to its Augusta, Georgia, store in April, it was engaged in concentrated segmentation. geodemographic segmentation. benefit segmentation. psychographic segmentation. misguided geographic segmentation.

misguided geographic segmentation.

Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from relative advantage. compatibility. observability. complexity. trialability.

observability.

As it relates to positioning, a _________ displays the position of products or brands in the consumer's mind. segmentation map SWOT analysis geographic display self-values map perceptual map

perceptual map

In the product development process, what takes place between concept testing and market testing? securing financial backing conducting marketing research brainstorming determining potential ROI performing product development

performing product development

Global pricing strategies should strive to be consistent with offshore distribution facilities. the cost of materials. positioning strategies. domestic pricing. trade surplus guidelines.

positioning strategies.

In one test before product launch, customers try a sample product and are then surveyed to understand whether or not they would buy/use the product again. This is known as premarket testing. market testing. alpha testing. concept testing. prelaunch testing.

premarket testing.

Suppose that CVS (a major drug store chain) wants to introduce its own brand of cough medicine that is similar in contents and packaging to a national brand, but at a lower cost. What kind of brand would CVS be introducing? national brand counterfeit brand premium brand private-label brand manufacturer's brand

private-label brand

If a new product concept gets positive evaluations from potential customers during concept testing, the next step for a firm is market testing. product development. brainstorming. reverse engineering. launching of the product.

product development.

Cultural differences such as food preferences, language, and religion also play a role in STP strategy. domestic marketing strategy. product strategy planning. global communication strategy. global marketing strategy.

product strategy planning.

Education marketers know that the primary motivations of most nontraditional college students are self-respect and self-fulfillment, so they craft their marketing message to emphasize the benefits these consumers are looking for in a college education. What type of segmentation method was used to segment this market? psychographics demographics geographics geodemographics behavior

psychographics

Ravi is gathering information about the general economic environment in Bangladesh. In doing so, he will look for information about the general economic environment, market size and population growth rate, and culture. real income. airport capabilities. political status. religious institutions.

real income.

Which of the following can help suppliers save on the cost of a product? rebranding labeling repositioning branding packaging

rebranding - wrong i think

The new hotel manager asked the pastry chef, "Are you sure you know how to cook Baked Alaska?" Which of the service dimensions was the hotel manager expressing concern about? reliability responsiveness assurance empathy tangibles

reliability

Private-label brands are developed and managed by manufacturers. wholesalers. supply chain specialists. manufacturer's representatives. retailers.

retailers.

When a global firm turns to its subsidiaries in less developed markets for new product ideas, such as when Samsung's ActivWash was initially developed for the Indian population and is now one of the most popular washing machines in South Korea, it is engaged in a consortia. reverse innovation. competitive engineering. pioneering. beta testing.

reverse innovation.

Firms can measure the success of a new product by satisfaction of its technical requirements. fewer competitors in the market. slow sales and low profits. customer reluctance to accept the product. uneven performance.

satisfaction of its technical requirements.

Many restaurants offer daily specials, appetizers, entrees, and desserts not listed on their standard menu. These daily specials primarily provide the new product benefit of keeping up in a market where sales come mostly from new products. satisfying the changing needs of current and new customers. avoiding market saturation from products that have been on the market for a long time. creating diversification and reducing risk. reduction in cost of ingredients.

satisfying the changing needs of current and new customers.

If you visit a Kentucky Fried Chicken restaurant in China, along with KFC's regular menu items, you will find congee, a rice porridge that can feature pork, pickles, mushrooms, and preserved egg, on the menu. This is an example of which global product strategy? sell the same products in both the home country market and the host country sell only products native to the home country sell a product similar to that sold in the home country, but include minor adaptations sell only products native to the various global markets sell totally new products or services

sell totally new products or services

Because services are intangible, it is often difficult for customers to determine how a service meets their expectations, which marketers call service perceptions. service efforts. service quality. service aspirations. service feedback.

service quality.

When Winifred planned her trip to Cambodia, she spent months evaluating packages, airfares, and hotel accommodations. Winifred's trip is an example of a(n) ________ product. specialty convenience unsought shopping sought

shopping

Many restaurants roll out new ideas first in Orlando, Florida, a location that attracts a vast range of diverse tourists and thus might offer insights into what various consumer groups will like. This is an example of target marketing. test marketing. product marketing. product launching. premarket testing.

test marketing.

When McDonald's comes up with a new drink or sandwich for its restaurants, it often markets it in a dozen or so of its outlets. When the company does this, it is engaged in pretesting. product launch. test marketing. product development. concept testing.

test marketing.

On the basis of the research it has gathered on consumer perceptions, the tests it has conducted, and competitive considerations, the XYZ firm confirms its target market (or markets) and decides how its product will be positioned. Then the firm finalizes the remaining marketing mix variables for the new product, including the marketing budget for the first year. This process illustrates the product launch. the company's evaluation of results. premarket demonstrations. alpha testing. beta testing.

the product launch.

The diffusion of innovation theory focuses on the geographic boundaries of innovation. the relationship between pioneer brands and imitators. the psychological traits of innovators. the rate at which consumers are likely to adopt a new product or service. the way a product moves through the product life cycle.

the rate at which consumers are likely to adopt a new product or service.

Which of the following sis a main component of a value proposition? the target market the location of the company headquarters the ability to mass market the price of the product or service being offered the financial state of the company

the target market

Whenever the president of the local public university promotes the institution, he emphasizes the university's price (much lower than neighboring private colleges) and high quality. He is positioning the institution based primarily on the value proposition. product attributes. symbols. competitive comparisons. profitability.

the value proposition.

Domino's growth plan has focused on Mexico partially because there are no pizza competitors. pizza and Mexican food have similar flavors. advertising is cheaper in Mexico than in any other Latin American country. 80 percent of the population is middle class with a large discretionary income. there is a growing penetration of Internet technologies.

there is a growing penetration of Internet technologies.

When managers understand what their service providers are facing on a day-to-day basis by directly observing them and talking to customers, it is called management by empowerment. marketing research. high expectations. walking around. being responsive.

walking around.

Today, many developed countries are experiencing ________ population growth. slight zero or negative rapid moderate significant

zero or negative

Which BRIC country's economic growth in the 21st century can largely be attributed to the expansion of its literate population and the impositions of social programs that have allowed more than half of its 201 million citizens to enter the middle class? Brazil Russia India China Chile

Brazil

A U.S. firm is analyzing its business prospects in China. Marketing executives understand which of the following to be true of this potential market? China's leadership, which maintains communist political ideals, has not embraced market-oriented economic development, which has led to startlingly slow gains. Recent developments in China have led to dramatically decreased living standards and levels of personal freedom. China struggles with unequal economic distribution. China's economy has recently seen a substantial decrease in its Global Retail Development Index (GRDI). China's growth in its gross domestic market has increased.

China struggles with unequal economic distribution.

On the diffusion of innovation curve, the first group of buyers who want to be the first on the block to have the new product are known as early adopters. True False

False - innovators