ch 10
Pricing procedures are the same for all types of ventures. a. True b. False
b
Average-income wage earners
late majority
Below-average-income wage earners
laggards
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
It is usually more expensive to gather secondary data than primary data. a. True b. False
b
Present oriented
early majority
High-income people who have inherited their wealth
innovators
Highest professionals, including merchants and financiers
innovators
Tradition-oriented people who often live in the past
laggards
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).
1)innovators 2)early adopters 3)early majority 4)late majority 5)laggards
Future oriented
early adopters
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
Owners of small businesses; non-managerial office and union managers
early majority
Inhibitors to marketing research include all of the following except: a. complexity b. distribution c. cost d. irrelevancy
b
The 4Cs of marketing include all the following except: a. cocreation b. choice c. continuity d. communities
c
In the marketing shift from the 4Ps to the 4Cs, price shifts to choice and promotion shifts to communities. a. True b. False
a
Marketing information that has already been compiled is known as secondary data. a. True b. False
a
Marketing research involves the gathering of information about a particular market, followed by analysis of the information. a. True b. False
a
Mobile social media applications can be differentiated based on location-sensitivity as well as on time-sensitivity. a. True b. False
a
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
Pricing in the social media age is sometimes based on a model that offers basic levels of service for free. a. True b. False
a
Social media marketing is the application of online collaborative media for marketing purposes. a. True b. False
a
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
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
Of the following, which is not associated with entrepreneurial tactics in market research? a. blog monitoring b. in-person interviews c. guerrilla marketing d. lead user research
b
Only major strategic decisions need to be supported through marketing research. a. True b. False
b
Skimming is setting prices at such a low level that products are sold at a loss. a. True b. False
b
The 4Ps of marketing include all the following except: a. price b. principle c. product d. promotion
b
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. resource management, context, and content d. control, contribution, and distribution
b
Of the following pricing models, which is not indicative of pricing in the social media age? a. the freemium model b. the subscription model c. the growth stage model d. the affiliate model
c
Secondary data consists of a. external data only. b. newly developed primary research. c. existing information. d. internal data only
c
Market segmentation is a. the process of segmenting the sales force b. heavily psychographic in nature c. the process of categorizing products into different segments d. the process of identifying a specific set of characteristics that differentiate one group of consumers from the rest
d
What is meant by pricing for the life cycle? a. that pricing needs to be increased at each stage in a product's life cycle b. that pricing of new products needs to start out low and end high c. that pricing of new products needs to start out high and end low d. that pricing needs to be adjusted at each stage in a product's life cycle
d
What is penetration pricing? a. setting price to switch customers to new product lines b. setting price to maximize profit c. setting price to match the competition d. setting price to maximize market share
d
What is skimming? a. setting price to match the competition b. setting price to switch customers to new product lines c. setting price to maximize market share d. setting price to maximize profit
d
Present oriented, but worried about the impact of time
innovators
Unskilled labor
laggards
Present (security) oriented
late majority
Skilled labor
late majority