Marketing Final Cal Poly SLO

During the __________ stage of the product life cycle, there are few but an increasing number of competitors. Select one: a. growth b. decline c. innovation d. maturity e. introduction

a

Each time you go to the grocery store and have your purchases scanned while using a loyalty or bonus reward card, you are contributing to a database that can help marketers determine all of the following EXCEPT Select one: a. other stores where you buy similar products. b. marketplace trends. c. what a typical shopping list looks like. d. whether changes in prices affect buying. e. what kinds of promotions might be attractive to you.

a

Fernando was thrilled to find out that his company had just decided to invest a great deal of money in the product he was managing. He knows that even with its recent high rate of growth and the fact that it dominates its market, he would need more money to establish it firmly. Using the BCG portfolio analysis, his product would be classified as aNo Select one: a. star. b. anchor. c. question mark. d. cash cow. e. dog.

a

For years, when considering new products, marketers at Celestial Seasonings asked themselves, "What would Stacy think?" Stacy was a fictional character representing 25-50-year-old, educated, upper-income women who rarely watched television but did a lot of reading. "Stacy" represented Celestial's primary Select one: a. target market segment. b. SBU. c. sustainable competitive advantage. d. demographic segment. e. positioning.

a

Golden Years Vitamin Corporation targets consumers living in Florida who are over age 65. Golden Years is using __________ segmentation. Select one: a. geodemographic b. loyalty c. self-actualization d. benefit e. psychographic

a

Google and other search engines allow marketers to bid to have their ads shown when consumers search on keywords related to the firm's products. These marketers are attempting to create value through Select one: a. promotion. b. price. c. product. d. place. e. cost-based measures.

a

In the Circles for a Successful Value Proposition framework, the portion of the customer needs/wants circle that doesn't overlap with anything else represents Select one: a. unmet customer needs/wants. b. the firm's value proposition. c. unknown customer needs/wants that the firm does not understand. d. low-priority needs and wants that customers are willing to give up. e. competitors' value propositions.

a

Manufacturers who use just-in-time manufacturing systems coordinate closely with suppliers to ensure that materials and supplies arrive just before they are needed in the manufacturing process. While just-in-time systems can offer major advantages in terms of inventory costs, they must be carefully managed. If a firm found that its just-in-time system was badly managed, leading to frequent manufacturing delays due to missing parts, this would represent aNo __________ in a SWOT analysis. Select one: a. weakness b. strength c. threat d. business mission e. opportunity

a

Many companies use the Internet to allow consumers to design customized products; for example, Nike allows customers to order shoes with custom color combinations. This is a form of Select one: a. micromarketing. b. differentiated targeting. c. concentrated targeting. d. psychographic segmentation. e. undifferentiated targeting.

a

Many small businesses whose competitors are national franchises advertise "we are locally owned" or "we have been here since 1951." This is part of these firms' Select one: a. positioning strategy. b. customer excellence strategy. c. market segmentation strategy. d. business mission. e. target market.

a

Many states create licensing requirements for a variety of professionals (such as lawyers and accountants) designed to restrict entry into their market by professionals from other states. This strategy limits ____________ growth strategies. Select one: a. market development b. product development c. diversification d. product proliferation e. market penetration

a

Marvin is looking for data to help him with a new market research study assigned to him. When reviewing existing secondary data from a past research study, Marvin should pay careful attention to Select one: a. how the secondary data were collected. b. how often primary data were substituted for secondary data. c. whether the Bureau of the Census has certified the research. d. where the data were warehoused. e. whether the data were transformed into information.

a

One example of a customer loyalty program is Select one: a. a frequent diner card at a restaurant, offering a free appetizer for every $100 in food purchases. b. an everyday low price policy on all products at a grocery store. c. an extensive customer service training program for new employees at a hair salon. d. seasonal sales on top selling items. e. a quantity discount offered for large purchases at an office supply store.

a

One reason auto companies spend millions on racing cars is that they offer the opportunity to test new designs and technology under extreme conditions. Car racing provides an opportunity for Select one: a. beta testing. b. test marketing. c. pretesting. d. alpha testing. e. concept testing.

a

Paul subscribes to an Internet service that alerts him whenever other firms in his industry are quoted in the media. Paul is using this type of market research primarily to Select one: a. monitor his competitors. b. help him understand the needs of his customers. c. decide how to price his new products. d. provide a link between him and his production center. e. increase profits through the sale of syndicated data.

a

The CEO of David's firm just came back from a business seminar, and he called David into his office. He stated, "I just found out about the product life cycle curve in a strategy seminar. This is a great tool. I want you to drop whatever you're doing and inventory all of our products to determine exactly where they are in the product life cycle." David needs to think fast for a good answer because he knows that Select one: a. it is often impossible to identify with precision where a product is in the product life cycle. b. the product life cycle is not helpful in companies like his that pay attention to diffusion of innovation. c. his job may be threatened by the answer. d. the product life cycle is not a useful concept. e. the idea has been discredited by recent research.

a

The value of the euro has changed significantly since 2002 with the problems experienced by several European economies. This change in value is called Select one: a. foreign currency fluctuations. b. global financial impact. c. interest destabilization. d. recession. e. inflation.

a

When conducting a research study attempting to understand what features were most important to automobile consumers, Gary's Research Company used a questionnaire containing __________ questions, with a predetermined set of response options. Select one: a. structured b. free-form c. unstructured d. observational e. in-depth interview

a

Which of the following factors, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of an opportunity? Select one: a. Recent consumer studies have indicated that Chinese consumers prefer American cars. b. The factory that manufactures a new, popular car cannot build enough vehicles to meet the demand, while other factories have excess capacity. c. Due to outdated engine technology, the company's cars get lower gas mileage than those of major competitors. d. The company has lower manufacturing costs than its key competitors, allowing it to sell its cars at low prices. e. A New York law firm has filed a $10 million class action suit against the company on behalf of car owners whose gas tanks exploded.

a

If a firm wants to develop a sustainable competitive advantage, it should Select one: a. arrange to meet with competitors to discuss how to avoid direct competition. b. examine its operations and customer relations to identify significant things competitors cannot easily copy. c. copy the innovative features of other firms that are attractive to customers. d. increase its marketing budget so that it outspends its competitors. e. begin an aggressive campaign to buy up competitors.

b

It is almost impossible to watch a sporting event on television without seeing Nike's swoosh check mark, which is Nike's Select one: a. term. b. symbol. c. name. d. theme. e. design.

b

Kim's Kayak Tours initially identified active retirees living in the retirement community nearby as one of its target markets. Kim then tailored her service and marketing message to the interests and schedules of that audience. Kim initially used __________ segmentation and then used __________ segmentation. Select one: a. micromarketing; loyalty b. geodemographic; lifestyle c. behavioral; geodemographic d. lifestyle; macromarketing e. geographic; loyalty

b

Many inventors struggle with the question, "I made it; now how do I get rid of it?" They have made the error of considering marketing as a. an accounting function. b. an afterthought. c. an integral part of a business plan. d. important only for new products. e. a profit center.

b

Melanie works for a small computer software company. Her boss is constantly improving its products but neglecting customers, billing, and promoting the company. Her boss is probably stuck in the __________ era of marketing. Select one: a. market-oriented b. production-oriented c. value-based marketing d. retailing-oriented e. sales-oriented

b

Nadia stood outside the mall and asked people which stores they visited and if they bought anything. If they said yes, she asked them what they bought and how they came to the decision to buy that item. What form of research was Nadia most likely conducting? Select one: a. questionnaire b. in-depth interviews c. experiment d. biometrics e. focus group

b

The Lite beer commercial with the slogan, "less filling, tastes great," was based on __________ segmentation. Select one: a. loyalty b. benefit c. psychographic d. geographic e. geodemographic

b

The manager of a company selling baby products asks you to conduct research into the question, "Is life expectancy getting longer in Kuwait?" The problem with this research objective is that Select one: a. it will lead to a set of unstructured questions. b. it is irrelevant to the baby products company. c. it is a research question that probably cannot be answered with any level of accuracy. d. it is already known and available from the U.S. Bureau of the Census. e. it is a question related to another culture.

b

Which element of the marketing mix is most relevant to the activity "creating value"? Select one: a. place b. product c. purchasing d. price e. promotion

b

Which of the following segmentation methods is being used when M&M's offers special wedding-themed packaging for customized M&M's (imprinted with the names of the bride and groom)? Select one: a. geographic segmentation b. occasion segmentation c. loyalty segmentation d. lifestyle segmentation e. benefit segmentation

b

__________ segmentation is the most common basis of consumer market segmentation because these segments are easy to define and usually easy to reach. Select one: a. Benefits b. Demographic c. Behavioral d. Geographic e. Psychographic

b

Some companies have been accused of taking advantage of the current social trend of green marketing, positioning their products as environmentally friendly when this may not actually be the case. This is called Select one: a. greenbaiting. b. red marketing. c. greenwashing. d. green puffery. e. fake greening.

c

The first objective in the evaluate performance phase of the marketing planning process is to Select one: a. consider changing the target market. b. adjust advertising allocations. c. review implementation programs and results using metrics. d. find ways to cut costs. e. determine whether to raise or lower prices.

c

The first question a marketing researcher should ask when considering a research study is Select one: a. What sample size will be needed? b. Should we use structured or unstructured questions? c. Will the research be useful? d. Who will pay for it? e. When is the due date?

c

The process of dividing the market into groups of customers with different needs, wants, or characteristics is called Select one: a. allocation. b. target marketing. c. market segmentation. d. positioning. e. value capture.

c

Walmart is known for its efficient logistical systems. Every time consumers buy something, that purchase is recorded and sent to company headquarters, where it is used to generate reorders to vendors. In addition, customers' billions of purchases are analyzed using data mining techniques to uncover Select one: a. new ideas for human resources management. b. competitors' pricing strategies. c. patterns of consumers' purchasing behavior. d. the impact of income tax laws. e. the relationship between primary and secondary data.

c

When Ramona, the keynote speaker at a major business leaders' conference, arrived in the middle of the night at the Ritz-Carlton, she was exhausted and her suit was wrinkled from her ten-hour plane trip. The night clerk found someone to dry clean Ramona's suit and have it ready for her morning presentation. She has been a loyal Ritz-Carlton customer ever since. In this example, Ritz-Carlton demonstrated the macro strategy of Select one: a. global excellence. b. product excellence. c. customer excellence. d. promotional excellence. e. operational excellence.

c

When a T-shirt manufacturer states, "We only sell it in black because that way we can buy plenty of black fabric and run our plant efficiently," its statement reflects the views that were popular in which era of the evolution of marketing? Select one: a. economics-oriented b. market-oriented c. production-oriented d. sales-oriented e. value-based marketing

c

Whenever Donald calls on potential pest control customers, he emphasizes the fact that, unlike the national franchise competitors, he is a local business person and has been in business over twenty years. Donald is __________ his business relative to his competition. Select one: a. segmenting b. targeting c. positioning d. packaging e. pricing

c

Which of the following is NOT one of the five groups in the diffusion of innovation curve? Select one: a. Late majority. b. Innovators. c. Non-adopters. d. Early adopters. e. Early majority.

c

Which of the following statements best describes secondary data? Select one: a. Secondary data will always meet the researchers' needs. b. Secondary data are those data collected to address specific research needs. c. Secondary data are pieces of information that have been collected prior to the start of the focal research project. d. Secondary data includes only qualitative research. e. Secondary data collection is always extremely time consuming and expensive.

c

A __________ is often used to illustrate the position of a firm's products or brands in consumers' minds. Select one: a. loyalty timeline b. mass marketing analysis c. psychographic profile d. perceptual map e. PRIZM analysis

d

Adidas Group owns Reebok, Rockport, and TaylorMade brands. Having a variety of brands allows Adidas to Select one: a. use geographic segmentation. b. generate economies of scale in advertising expenditures. c. engage in micromarketing for hard-to-fit shoe customers. d. obtain a bigger share of the shoe market. e. use mass marketing techniques.

d

After assessing the market growth potential for his company's baby products in Mexico, Harmon wanted to evaluate market competitiveness. To do this, Harmon would consider Select one: a. profitability and customer buying behavior. b. mass marketing distribution potential and logistical support. c. the current size of the market and the expected growth rate. d. the number of competitors, entry barriers, and product substitutes. e. ease of pricing control and number of promotional outlets.

d

After conducting STP analysis for her custom auto parts store and developing strategies for each of the four Ps, Monique now has to make _____________ decisions. Select one: a. competitive response b. mission statement c. market growth d. resource allocation e. product line

d

During the __________ era, firms had excess capacity and used personal selling and advertising to generate customers. Select one: a. retailing-oriented b. value-based marketing c. market-oriented d. sales-oriented e. production-oriented

d

For products like clothespins, which provide the same benefit for all consumers, marketers should probably use aNo ________ strategy. Select one: a. differentiated segmentation b. concentrated targeting c. lifestyle segmentation d. undifferentiated targeting e. benefit segmentation

d

Fourteenth National Bank prides itself on offering better service than any of its competitors. If this is accurate, and if customers recognize and value Fourteenth National's superior service, the bank creates and delivers value through Select one: a. product excellence. b. operational excellence. c. promotional excellence. d. customer excellence. e. global excellence.

d

In mid-2010, Hewlett-Packard Company (HP) acquired Palm Computing, Inc., a manufacturer of personal devices and smart phones. Before deciding to acquire the company, strategic planners at HP spent time thinking about how Palm and HP would fit together, and how the acquisition might change HP's core goals and objectives. The strategic planners were engaged in the ____________ step of the marketing planning process. Select one: a. identify and evaluate opportunities b. situation analysis c. implement marketing mix and allocate resources d. define the business mission e. evaluate performance

d

Marketers often create a special marketing mix for loyalty segments because these segments are Select one: a. difficult to identify. b. constantly changing. c. costly to acquire. d. generally profitable. e. too large to service with ordinary targeting.

d

The __________ diffusion of innovation group is crucial because few new products can be profitable until this large group buys them. Select one: a. late majority b. laggard c. innovator d. early majority e. early adopter

d

The fundamental goal of marketers when creating goods, services, or combinations of both, is to Select one: a. stimulate short-term sales. b. operate according to government regulations. c. serve all consumers. d. create value. e. defeat the competition.

d

When Toyota introduced hybrid cars, there were waiting lists to buy them. Then Honda and a few other manufacturers entered the market, shifting the product life cycle for hybrid cars into the __________ stage of the product life cycle. Select one: a. decline b. introduction c. maturity d. growth e. leveling

d

Which of the following types of research would be considered quantitative research? Select one: a. Focus group research b. Observational research c. Social media monitoring d. Experimental research e. In-depth interviews

d

Yolanda is the new restaurant manager in a major hotel. When considering changes in the restaurant that will increase value to customers, Yolanda will likely attempt to either provide the same quality at a lower cost or Select one: a. increase prices to increase revenue. b. lower the quality and the price. c. offset higher hotel rates with lower restaurant prices. d. improve products and services at the same cost. e. reduce customer expectations through reduced service.

d

__________ research is a type of quantitative research that manipulates variables to help determine cause and effect. Select one: a. Focus group b. Descriptive c. Syndicated d. Experimental e. Manipulative

d

Education marketers have learned that the primary motivations of most nontraditional college students are self-respect and self-fulfillment. Understanding the values of this market segment allows marketers to Select one: a. offer alternative courses based on geographic location. b. use micromarketing strategies. c. employ loyalty marketing strategies. d. lower the price for this market segment. e. emphasize the benefits these consumers are looking for in a college education.

e

Eric is a sales rep for an established building materials manufacturer. Business is good, but he is concerned that the company has spent little on new product development and has not created a new product in over five years. Without new products, Eric can only market to his current customers or Select one: a. focus on concept testing. b. intensify his prototyping. c. expand his early adopter market segment. d. diversify. e. market the same products to similar customers.

e

For many years, Southwest Airlines distinguished itself as the low-cost airline. Now, many other low-cost competitors have entered the market. Similarly, Southwest was one of the first airlines to offer online ticketing. Now, all airlines have online ticketing. These examples suggest that Select one: a. product excellence is the only true source of a sustainable competitive advantage. b. situation analysis is a continuous process. c. customers rarely remain loyal to companies. d. innovation is pointless because competitors will develop copycat offerings. e. no single strategy is likely to be sufficient to build a sustainable competitive advantage.

e

Heather has been assessing a number of her firm's products using, the Boston Consulting Group approach to portfolio analysis. She has been trying to assess the strength in a particular market and is looking at the sales of the product and the overall market as well as the sales of competitors. Heather is trying to determine: Select one: a. a source of competitive advantage. b. the impact of population shifts on future demand. c. cash equivalent values for each product. d. the market growth rate. e. the product's relative market share.

e

In a SWOT analysis, increasing gasoline prices would represent a potential __________ for manufacturers of electric cars. Select one: a. operational advantage b. locational advantage c. weakness d. threat e. opportunity

e

In addition to using sentiment mining to determine customer attitudes about products, some companies also participate in ________ by joining in online conversations with customers. Select one: a. data mining b. experiments c. in-depth interviews d. chat room dynamics e. social engagement

e

In its discussion of Nike and adidas, two major athletic shoe manufacturers, the text mentions that Nike has purchased Umbro, a sports brand that has appealed mainly to soccer (European football) enthusiasts in the past. This action suggests that Nike intends to compete head to head with adidas, which got its start designing soccer shoes. On a SWOT analysis for adidas, how should Nike's acquisition of Umbro be categorized? Select one: a. Strength b. Segment c. Opportunity d. Weakness e. Threat

e

In most companies, portfolio management is typically done at the SBU or ___________ level of the firm. Select one: a. customer care b. sales representative c. corporate d. accounting e. product line

e

In questionnaire design, a question such as, "When was the first time you went to a dentist?" suffers from the problem of a question that Select one: a. leads respondents to a particular response. b. asks two questions at once. c. respondents are reluctant to answer because the information is sensitive. d. is complex and something respondents may be unfamiliar with. e. respondents cannot easily or accurately answer.

e

Marketers must determine the price of a product carefully, based on potential buyers' beliefs about Select one: a. the cost to manufacture the product. b. the economic outlook. c. the environment. d. the product's new advertising campaign. e. its value.

e

Overriding desires that drive how we live our lives are called Select one: a. self-control. b. self-confidence. c. self-concept. d. self-esteem. e. self-values.

e

The Got Milk advertising campaign, designed to increase consumption of milk, was intended to help market aNo Select one: a. organization. b. individual. c. firm. d. specific product. e. industry.

e

The prevailing marketing strategy of the __________ era was to find customers for inventories that went unsold. Select one: a. retailing-oriented b. value-based marketing c. market-oriented d. production-oriented e. sales-oriented

e

Toothpastes sold in supermarkets and pharmacies promise various results, such as whiter teeth, protection against gum disease, tartar control, or fresh breath. Toothpaste marketers are using __________ segmentation. Select one: a. loyalty b. geodemographic c. demographic d. psychographic e. benefit

e

We often see advertisements touting a product as being made with natural ingredients, or being long-lasting. Marketers using these types of promotions are positioning their products based primarily on Select one: a. competitive comparisons. b. profitability. c. symbols. d. the value proposition. e. product attributes.

e

When a pharmaceutical company develops a new medication, it typically applies for a patent to prevent competitors from developing copycat products for several years. Pharmaceutical companies apply for patents to establish Select one: a. an efficient supply chain. b. an operational excellence macro strategy. c. product efficiency. d. a market penetration growth strategy. e. a sustainable competitive advantage.

e

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged? Select one: a. segmentation b. control c. implementation d. metrics e. planning

e

When the detailed opinions of a few industry experts or experienced consumers are needed, __________ are often the best qualitative research method. Select one: a. surveys b. secondary data mining studies c. social media studies d. focus groups e. in-depth interviews

e

Which of the following defines a value proposition? Select one: a. the one feature that will prompt a customer to buy the product b. an advertisement that talks about value c. a special discount offer dropping the price d. a display of the position of products or brands in the consumer's mind e. the unique value that a product or service provides to customers

e

Which of the following would NOT be used in calculating the profitability of a segment? Select one: a. profit margin percentage b. segment adoption percentage c. fixed costs d. segment size e. segment perceptions

e

Which of these is NOT one of the main components of a value proposition? Select one: a. The name of the product or brand being offered. b. The product/service category or concept being offered. c. The target market. d. The unique point of difference or benefits offered. e. The price of the product or service being offered.

e

Zappos.com, an online shoe store, worked to overcome the problem of new product __________ with its easy, no-hassle return procedure. Select one: a. compatibility I b. complexity c. observability d. relative advantage e. trialability

e

A major advantage of primary data collection is that Select one: a. all of these are advantages of primary research data. b. it can be tailored to meet the specific research needs. c. it is general enough to meet many researchers' needs. d. it takes less time to collect than secondary data. e. it can be easily accessed through syndicated databases.

b

Academic researchers often jump at the opportunity to conduct a research study, curious to learn more and address unanswered questions for the sake of general knowledge. Business people tend to be more cautious before embarking on a marketing research study, recognizing that research is often Select one: a. beyond most managers' ability to comprehend. b. expensive and time consuming. c. of little use in real marketing situations. d. an academic exercise of little real value. e. an impediment to decisive management.

b

Effective marketing doesn't just happen. It is Select one: a. promoted through STP analysis. b. planned. c. the result of competitors' failures. d. introduced through control phase SBUs. e. possible only for seasoned marketing executives to achieve.

b

Four Winds Art Gallery recently began offering appraisals of customers' art collections, in addition to continuing to sell paintings. Four Winds is Select one: a. increasing customer value through inflated appraisal evaluations. b. expanding from offering just goods to also offering services. c. capturing value through multiple pricing strategies. d. expanding from offering just services to also offering goods. e. implementing a market segmentation strategy.

b

Gerald's Tire Store sets itself apart from competitors by the extra attention it pays to providing fast, courteous service in a clean, professional-looking environment. Gerald's has used this strategy for over 40 years, expanding to 15 outlets. Gerald's Tire Store has created a ___________________ to create and deliver value and to develop a sustainable competitive advantage. Select one: a. market development strategy b. macro, or overarching, strategy c. diversification strategy d. set of metrics e. segmentation strategy

b

"Why create a perceptual map?" asked David. Andreas, the senior marketing manager, gave him four reasons. Which of the following is NOT a valid reason? Select one: a. "It shows where we aren't—and where our competitors aren't—in our customers' and prospects' minds." b. "We can easily show where we are positioned and how large the market is." c. "It's a way to show the position of the company throughout the product's life cycle." d. "It's a way to demonstrate the dimensions that our customers think are important." e. "It's a quick way for senior managers to see not only our product but each of our competitors, all at once."

c

After assessing the market growth potential and market competitiveness for his company's baby products in Mexico, Harmon wanted to evaluate market access. To do this, Harmon would consider Select one: a. the current size of the market and the expected growth rate. b. profitability and customer buying behavior. c. ease of accessing or developing distribution channels and brand familiarity. d. the number of competitors, entry barriers, and product substitutes. e. ease of pricing control and number of promotional outlets.

c

After hurricanes like Katrina, many small building contractors will flock to the damaged area, charging whatever customers will pay for temporary repairs to roofs and other parts of damaged homes. These contractors are engaged in aNo __________ marketing orientation. Select one: a. external b. internal c. transactional d. value driven e. relational

c

Baby Boomers represent a huge demographic segment for travel marketers. Baby Boomers are also heavily motivated by self-fulfillment, which creates the possibility of __________ segmentation. Select one: a. behavioral b. self-concept c. psychographic d. geographic e. benefit

c

If a few of Nintendo's customers are asked to try out a new video game that has not yet been released on the market, this is an example of Select one: a. concept testing. b. premarket tests. c. beta testing. d. test marketing. e. market testing.

c

If a firm has demographic and purchasing information about its customers, the firm can use data mining techniques to Select one: a. find out which competitors its customers purchase from. b. create marketing mixes based on consumer self-values. c. build separate marketing programs for different demographic segments. d. determine which syndicated data warehouse services to purchase. e. understand psychographic motivations.

c

Jeff is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to the volume he will sell monthly. He has researched his competition, talked to some customers, and decided on prices he will charge. Jeff has also developed a plan for promoting his business. Based on this description, which element of the marketing mix does Jeff still need to work on? Select one: a. promotion b. product c. place d. price e. planning

c

Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. This is an example of Select one: a. typical production-oriented era marketing practices. b. supply chain management. c. customer relationship management. d. C2C marketing. e. a transactional marketing orientation.

c

Most banks implement customer retention programs aimed at their best customers. They do this because they know that retaining customers usually results in Select one: a. more clearly defined market segments. b. an operational advantage. c. increased long term profits. d. opportunities for diversification. e. a product development growth strategy. Feedback

c

One of the disadvantages of secondary research is ______, whereas one of the disadvantages of primary research is often ________. Select one: a. sophisticated training required to obtain it; potential bias b. time required for collection; sources not original c. potential bias; cost d. cost; outdated information e. outdated information; information not relevant to data needs

c

Paula is trying to determine whether the segments she is considering for her day care center will be profitable. Which of the following will NOT specifically help her in this analysis? Select one: a. The number of children needing day care in the immediate area. b. The percentage of parents in the area who can both afford to send their child or children to day care and who are willing to do so. c. The average number of school-age children in families sending a child to the day care center. d. The fixed costs of operating the center. e. The price she would charge minus the variable cost of providing service to each child.

c

Qualtrics, Surveymonkey, and Zoomerang are examples of Select one: a. focus group programs. b. biometric data companies. c. online survey software. d. syndicated data companies. e. data warehouses.

c

Since the late 1970s, most American families have seen their income growth stagnate, with income rising only slightly more than inflation. This has changed many American consumers' concept of Select one: a. demographics. b. scenario planning. c. value. d. green marketing. e. culture.

c

According to the text, younger consumers deal with having a lack of leisure time by Select one: a. spending less time on the phone. b. sleeping less. c. watching television programs on their laptops. d. eating unhealthy fast food meals. e. multitasking.

e

After major hurricanes like Katrina, many ethical home repair and building supply businesses continue to charge pre-hurricane prices to their customers, even though due to the huge increase in demand they could charge much more. These firms probably recognize that Select one: a. a transactional orientation is the key to long-term profitability. b. none of their competitors would be raising prices. c. if they raised prices they would be in violation of Commerce Department regulations. d. they can make more money from government contracts than from sales to customers. e. lifetime profitability of relationships matters more than profits from a particular transaction.

e

Astute marketers recognize that the increasing disparity of income between upper- and lower-income groups Select one: a. will disappear as ethnicity becomes a stronger cultural determinant. b. will vanish once the recession ends. c. will create inflationary expectations. d. is attributable to technological expertise of immigrant groups. e. creates opportunities to provide value to each group. Feedback

e

By the time BMW got into the mini-SUV market, sales had leveled off and were even starting to decline. BMW had to target its marketing efforts toward the __________ diffusion of innovation group. Select one: a. early adopter b. innovator c. laggard d. early majority e. late majority

e

College students can be a less __________ market segment because students' media habits are quite diverse. Select one: a. substantial b. identifiable c. quantifiable d. perceptive e. reachable

e