MKTG 431 SFSU Midterm

Research has shown that the influence of family on the consumer buying process is very strong. This is because many of the consumption patterns we have for products are formed by the time we are ____ years old? Select one: a. 1 b. 24 c. 35 d. 5 e. 16

16

Principles of Marketing is a three credit hour class. The rule of thumb for college level work says that (in addition to viewing the lectures) you should be spending _________ additional hours studying each week? Select one a. 10-15 b. Actually, you don't even have to view the lectures to do well. c. Whatever it takes d. 6-9 e. 3

6-9

What is the difference between data and information as discussed in class? Select one: a. A datum is a fact; information is a collection of facts. b. A datum is a fact; information is a fact that is used in making a decision. c. Data are things that are true, information is things that are believed to be true. d. Data is the singular, information is the plural. e. A datum is a fact based on hard evidence; information is a fact based on opinion.

A datum is a fact; information is a fact that is used in making a decision

Which of the following situations is probably illegal price discrimination as determined by the Robinson-Patman Act? Select one: a. The Frito Lay company sells potato chips to Wal Mart for less money than to a local grocery store because Wal Mart buys in very large quantities in order to be able to offer low prices. b. A gasoline filling station charges customers who use a credit card or an ATM card three cents extra per gallon. c. A gasoline refinery sells gasoline to its dealers for 50 cents less than to independent dealers because it doesn't want independent dealers selling gasoline at lower prices than the company's dealer network. d. A bank charges a lower fee for a checking account to customers who have agreed to have their paychecks deposited to the account automatically? e. These are all examples of illegal price discrimination.

A gasoline refinery sells gasoline to its dealers for 50 cents less than to independent dealers because it doesn't want independent dealers selling gasoline at lower prices than the company's dealer network.

When we speak of a consumer, we are speaking of...? Select one: a. An individual who is exactly like every individual who buys a specific product. b. We are speaking of all of these when we speak of a consumer. c. A small business that purchases things for resale to other businesses. d. The aggregate demand for a good or service. e. A person who purchases things for personal consumption.

A person who buys things for personal consumption

Which of the following situations describes a business customer? Select one: a. A person who buys yarn in order to knit baby clothes for sale on her "darned babies" website. b. A person who notices that her baby could use some new knitted baby clothes. c. A person who surfs the web looking for knitted baby clothes. d. All of these are business customers. e. A person who buys yarn in order to knit a sweater for himself

A person who buys yarn in order to knit baby clothes for sale on her "darned babies" website

A marketing channel always includes? Select one: a. A wholesaler b. All of the above c. A producer d. A retailer e. A salesperson

A producer

The value of the levels of the product concept is that the actual product can be thought of as? a. A way to deliver the core benefit to the consumer. b. The only way to deliver the core benefit to the customer. c. The second step in a marketing program. d. The linkage between the core benefit and the market segment. e. Unfinished until the product has been enhanced by offering a service guarantee.

A way to deliver the core benefit to the consumer

Desiree knows that she does not have very much money. Yet she dreams of being rich and famous like one of those Hollywood stars you see on television all the time. Her one luxury is to buy fashionable designer dresses just like those worn on her favorite television shows. In order to survive, she eats day old bread and lots of rice because it is very inexpensive. Desiree's desire to save money on food which she eats alone is motivated by her ____________? Select one: a. Ideal self-concept b. Actual self-concept. c. Fashion sense. d. Need for safety. e. External motivation.

Actual self-concept.

When would you be willing to spend money to develop new information to support a decision? a. When the expected value of the decision increases with better information. b. When there is a lot at risk in making the decision. c. When the information you develop is better than guessing. d. All of these are reasons to spend money to develop new information to support a decision. e. When there is a high level of uncertainty about alternative outcomes.

All of the above

Which of the following is NOT a source of information for a typical Marketing Information System? a. Marketing intelligence b. Marketing research c. Acquired databases d. Internal data e. All of these are sources of information for a typical marketing information system.

All of the above

An inverted demand curve is usually associated with luxury or prestige goods. With an inverse demand curve, within a certain range of prices... Select one: a. An increase in price will lead to an increase in the quantity demanded b. There is no limit to the quantity demanded. c. An increase in price will lead to a decrease in the quantity demanded d. A discount will lead to an increase in the quantity demanded e. A decrease in price will lead to an increase in the quantity demanded

An increase in price will lead to an increase in the quantity demanded

Which of the following is NOT a source of internal data used in a marketing information system? Select one: a. Ordering data b. An information silo c. Sales data d. customer service logs e. Tracking logs from the company website

An information silo

What do we mean when speak of an organization's stakeholders? Select one: a. Individuals or organizations who monitor blogs (web logs) about new products for an industry. b. Individuals or organizations who have expressed interest in buying a particular company's stock when it is undervalued in the marketplace. c. Any individual or organization that is affected by a company's marketing activity. d. Individuals or organizations who are not currently customers of a company. e. Any individual or organization that makes money when a particular company introduces a successful new product.

Any individual or organization that is affected by a company's marketing activity.

Kris decided to go shopping for a pair of tennis shoes. She went to the mall where there were several stores selling shoes. The first store was poorly lit, seemed to be kind of dirty and was very crowded. The second store was brightly lit, sparkning clean and had the shoes attractively displayed on shelves. She walked past the first store and into the second store in order to shop for shoes. Kris was influenced by ___________? Select one: a. Time of day b. The buying task c. Personality d. Her mood at the time. e. Atmospherics

Atmospherics

The two components of quality are? Select one: a. Cost of obtaining the benefit, benefits received. b. Features, benefits. c. Reliability, warranty d. Benefits received, consistency. e. Price, benefits received.

Benefits received, consistency

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company define the marketing strategy for and determine the projected income from a new product? Select one: a. Screening and evaluation b. Market Testing c. New-product strategy development d. Commercialization e. Business analysis f. Idea generation g. Technical development

Business analysis

_______________ is the marketing of goods and services to companies, governments, or not-for-profit organizations purposes other than personal consumption? Select one: a. B2C marketing b. Internet marketing c. Consumer marketing d. Production era selling e. Business marketing

Business marketing

Of the three ways to satisfy a need, which one is used to create exchanges? Select one a. All of these are used in exchanges. b. Fake it. c. Buy it. d. Make it. e. Steal it.

Buy it

The group of people in an organization who become involved in the purchase decision are a(the) _________? Select one: a. Professional buyer b. Customer council c. Component parts. d. Buying center e. Decision makers

Buying center

One of the ironies in brand management is that if you are very successful at creating a branded product so that people start referring to the brand name instead of the product name, you risk losing the right to the brand name. This use of the brand name as the product name is called _______________? Select one: a. Infringement b. Mistaken identity c. The last laugh. d. Cannibalization e. Common usage

Common usage

In a(n) _____________ situation, multiple suppliers are invited to submit proposals for a contract to supply a good or service to a business customer? Select one: a. Competitive bidding. b. Environmental scanning. c. Reciprocal selling. d. Open outcry auction. e. Modified re-buy.

Competitive bidding

The LOWER the ___________ the more likely people will be to adopt your new product? Select one: a. Observability b. Compatibility c. Relative advantage d. Trialability e. Complexity

Complexity

What do we mean when we say demand for industrial goods is derived? Select one: a. A product can be considered to be either a consumer product or an industrial product depending on how it is used. b. Business customers consider other things than simply price when deciding to purchase an industrial good. c. Many business customers use contracts to establish purchase quantities. d. Transportation issues make a significant difference in a company's ability to use industrial goods in its products. e. Consumers buy industrial goods indirectly when they purchase consumer goods that use industrial goods as components.

Consumers buy industrial goods indirectly when they purchase consumer goods that use industrial goods as components.

Roxanne has completed her positioning analysis and has decided that there is an opportunity to create an adult milk beverage that is enhanced with vitamins. Currently, her company does not make such a product, nor for that matter do any of her competitors. Roxanne has the opportunity to? Select one: a. Save on advertising costs because there are no competitors in her segment. b. Create a new category by introducing a product that is different from anything else on the market. c. Reposition the industry around vitamin enhanced milk beverages. d. Charge higher prices because there are no competitors in this segment e. She can do all of these things.

Create a new category by introducing a product that is different from anything else on the market

OK, so you have successfully divided the potential market into three target market segments. What do you do next? Select one: a. Develop a low cost strategy for each market. b. Subdivide each segment into usable market niches c. Identify ways that potential customers in each segment are similar to each other with respect to your product. d. Create specific product/market offerings to satisfy unmet needs in each segment e. Congratulate yourself on a job well done and ask your boss for a raise.

Create specific product/market offerings to satisfy unmet needs in each segment

Which of the following is NOT information that is available categorized by NAICS codes? Select one: a. Number of firms in an industry b. Salary data c. Employment data d. Industry sales data e. Current price data

Current data price

____________ attempts to identify new business opportunities by analyzing data from past transactions? Select one: a. Routine reporting b. Quarterly reporting c. Exception reporting d. Environmental scanning e. Data mining

Data mining

A(n) ______ is a conscious choice from among two or more alternatives. Select one: a. Dilemma b. Inference. c. Decision d. Option e. Research finding

Decision

Sandra is running an online bookstore. Her market research shows her that many people visit the site, look at several books, add one or more books to the shopping cart but never actually purchase anything. Based on what she learned about the consumer buying process, Sandra decided to offer free delivery. She felt that this would make it easier for the customer in the ___________ stage of the consumer buying process. Select one: a. Need recognition stage. b. Decision stage c. First stage. d. Impulse purchase stage. e. Evaluate alternatives stage.

Decision Stage

The goal at the ______________ stage of the product life cycle is to maximize profit without investing a lot of resources in the product. Select one: a. Introductory b. Maturity c. Rebirth d. Growth e. Decline

Decline

What is the most important stage of the market research process? Select one: a. Set research objectives b. Define the problem c. Answer specific questions d. Take action based on the findings e. Develop the research plan

Define the problem

The __________ to setting prices weighs consumer tastes and preferences more heavily than costs and profits. Select one: a. Qualitative approach b. Competition based approach c. Subjective-approach d. Cost-based approach e. Demand-based approach

Demand based approach

Many complicated products such as computers or automobiles are assembled using many component parts. Once a sales forecast for the main product has been established, it is relatively easy to estimate sales of the component products because of the ____________ characteristic of business markets? Select one: a. Acceleration principle b. Derived demand c. Inelastic demand d. Market structure e. Buying center

Derived demand

Which of the following statements about the consumer buying process is FALSE? Select one: a. The consumer buying process deals with people who are purchasing things for personal consumption. b. Not everybody who starts consumer buying process ends up buying a product. c. The consumer buying process deals with the way human beings solve problems. d. The consumer buying process deals with human behavior. e. Different people will go through the stages of the consumer buying process in a different order

Different people will go through the stages of the consumer buying process in a different order.

Zach hates the sport of soccer. He especially dislikes the Brazilian national team. He makes it a point never to wear anything that looks like soccer clothing, especially if it is in the colors of the Brazilian team. For Zach, the Brazilian soccer team is a(n) ____________? Select one: a. Membership group b. Conformity group c. Aspirational group d. Consideration set e. Dissociative group

Dissociative group

When a new product is being adopted by the ____________ , you could say it has reached the mass market. Select one: a. Early majority b. Late adopters c. Innovators d. Late majority e. Early adopters

Early majority

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. Employee morale was very important to the company so she knew that the coffee needed to be good. She went online and searched for several coffee services. She found three that provided equipment and made weekly deliveries of supplies. She called all three and asked them to come in and put on a demonstration so that the employees could decide which coffee they liked best. The winner of the taste test would get the contract Hermione used ____________ to evaluate the quality of the service? Select one: a. Intangibles b. Credence attributes c. Comparatives d. Search attributes e. Experiential attributes

Experiential attributes

Every time Jiwon goes to the candy counter at the bookstore, they never have exactly what she wants and she believes that there is an opportunity to develop a candy specifically for college students. Because she is not sure what features college students look for in candy, she should conduct __________ research to better understand how college students feel about candy? Select one: a. Pseudo b. Exploratory c. Descriptive d. Causal e. Experimental

Exploratory

T/F: Attitudes are permanent

False

T/F: Buyer's remorse affects business customers as well as consumers

False

T/F: Customers control the features that are available in the products they buy.

False

T/F: People put a lot of effort into routine purchases, even though they would rather not.

False

The idea behind _____________ is that people who are born at the same time share similar experiences growing up and, therefore are similar in some of their attitudes and behaviors? Select one: a. Co-generation b. Generation X c. Baby boomers d. Generation Y e. Generational marketing

Generational marketing

Many national magazines such as Time or Business Week contain advertising that is different depending on where in the country the magazine is purchased. These regional editions are useful for marketers trying to communicate with customers who have been segmented according to ____________? Select one: a. Demographic b. Psychographics c. Business versus consumer d. Lifestyle e. Geography

Geography

Which of the following is NOT a source of internal data used in a marketing information system? Select one: a. Customer service logs b. Google searches c. Sales data d. Cost information e. Scheduling information

Google searches

Bruce wanted to open a coffee shop. He knew his coffee was way better than anything Starbucks could do so he opened his first store across the street from a Starbucks Store. He ran advertisements in the local paper claiming "Bruce's Brew is better than Starbucks Stuff" and offered a money back guarantee to any Starbucks customer who was willing to try a cup of Bruce's Coffee. Bruce is using a _______________ positioning strategy. Select one: a. Follow the leader b. Different attributes c. Head to head d. More is better e. Differentiation

Head to head

What is the 80-20 rule? Select one: a. All of these statements about the 80-20 rule are true b. Relationships are more profitable than transactions c. In general, 80% of your business comes from 20% of your customers d. 80% of your business should come from customer relationships e. 20% of you business should come from individual transactions

In general, 80% of your business comes from 20% of your customers

Which of the following statements about the growth stage of the product life cycle is FALSE? Select one: a. Increasing demand and high profits encourage competitors to enter the market. b. Increasing numbers of customers creates the opportunity to develop profitable market segments. c. Increasing demand and decreasing competition lead to higher profits. d. All of the other statements about the growth stage of the product life cycle are false. e. Branding is an important tool to use in differentiating the product.

Increasing demand and decreasing competition lead to higher profits

Proctor & Gamble frequently creates a separate brand identity for each product they bring to market. This strategy is called _______________. Select one: a. Excessive branding. b. Generic branding c. Family branding d. Individual product branding e. Private branding.

Individual product branding

Bruce is trying to sell his new "Bruce's Blend" of coffee to Starbucks. He met with the buyer and the buyer arranged for Bruce to serve a sample of his new blend to a group of 'tasters' who will taste the coffee and tell the buyer whether or not they think it is any good. These tasters are performing the role of ___________? Select one: a. Influencer b. Initiator c. Gatekeeper d. Buyer e. Decider

Influencer

When you are dealing with the ___________ characteristic of a service, one approach to marketing services is to make the service seem 'real' ? Select one: a. Perishability b. Derogatory c. Variability d. Intangibility e. Inseparability

Intangibility

One common strategy to extend the life of a product in the maturity stage of the product life cycle is to ____________? Select one: a. Harvest the product b. Introduce incremental innovations c. Skim the product. d. Stop advertising the product. e. Divest the product.

Introduce incremental innovations

_________ affects the amount of time and effort a buyer invests in the consumer buying process. Select one: a. Postpurchase behavior b. Internal search c. Cognitive Dissonance d. Identifying alternatives e. Involvement

Involvement

The major advantage of secondary data is that ____ Select one: a. Gives you control over the methodology b. It is external to the organization c. It is up to date d. It answers your specific research question e. It is immediately available.

It is immediately available

People may not be conscious of their true motivation for purchasing a specific product. This is especially true for socially consumed products such as luxury cars and designer fashions. They may say they are purchasing these products because they are of high quality or an excellent value. The real reason is more likely to be: Select one: a. They are on a company expense account and don't have to purchase these products with their own money. b. They know that many people will lose their jobs if nobody purchases luxury products. c. Luxury products are a way for them to maintain their self image. d. They are not aware of how expensive these products actually are. e. They perceive these products to be investments that will be much more valuable in the future than they are right now.

Luxury products are a way for them to maintain their self image.

Younjin is a purchasing agent for Acme enterprises. Currently, the company makes a line of fire-proof file cabinets that are well regarded by its customers. One of her responsibilities is to purchase brochures explaining the benefits of the Acme file cabinets. She was recently authorized to purchase a computerized document management system for the company at the cost of several million dollars. With this new technology, she may be able to print the brochures in the factory rather than ordering them from a printing company as in the past. Younjin will probably treat this as a ___________ decision? Select one: a. Straight rebuy b. Make or break c. New task buy d. Modified rebuy e. Make or buy

Make or buy

BruceCo is a company that makes products for the coffee industry. They subscribe to a clipping service that monitors newspapers in major cities around the world for articles related to the coffee industry. This is an example of _____________ in a marketing information system? Select one: a. Marketing intelligence b. Computer hardware and software c. Decision makers d. Internal information e. Acquired databases/internet

Marketing intelligence

What is the difference between a business customer and an individual consumer? Select one: a. Mass marketing techniques are less effective on business customers because business buyers are professional and are trained to ignore advertising. b. Price is more important to the business customer than to the individual consumer because business customers buy products in order to make money. c. Mass marketing techniques are usually less cost effective in business marketing than in consumer marketing because there are fewer business customers than individual consumers. d. Mass marketing techniques are usually more effective in business markets because business buyers watch the same television shows as everybody else. e. Mass marketing techniques are usually less effective in business markets because advertising creates smaller transactions than personal selling.

Mass marketing techniques are usually less cost effective in business marketing than in consumer marketing because there are fewer business customers than individual consumers.

Younjin is a purchasing agent for Acme Enterprises. She is responsible for the company's copiers. The company makes lots and lots of copies so they spend more than $10 million on copies each year. Younjin is considering replacing all of the company's copiers with a networked solution that digitizes all documents and prints them on demand at designated workstations. This system will have to be custom designed for the company and will cost several million dollars. Younjin will probably treat this as a __________ decision? Select one: a. Modified rebuy b. Straight rebuy c. Boom or bust d. Make or buy e. New task buy

New task buy

Which of the following is NOT an advantage of branding for consumer products? Select one: a. A brand can be an assurance of quality for a customer b. A successful brand is an intangible asset. c. You can create a barrier to entry for other competitors d. There is an opportunity to leverage the brand through licensing or co-branding. e. Once a brand has been established, you do not have to maintain it

Once a brand has been established, you do not have to maintain it

The Myers-Briggs personality inventory is one typology discussed in class. Which of the following is NOT one of the dimensions of the Myers Brigs personality inventory? Select one: a. Optimist-pessimist b. Sensing-Intuitive c. Thinking-feeling d. Extrovert-Introvert e. Judgment-perception

Optimist-pessimist

What is the essence of the loss aversion principle? Select one: a. People prefer to discard obsolete products when newer products are available. b. People will work harder to avoid a loss than they will to achieve an equivalent gain. c. People will enjoy spending money more if they earned it than if they received it as a gift. d. People will be angry if they find out they paid too much money for a product. e. People will double their bet after taking a loss in order to win their money back.

People will work harder to avoid a loss than they will to achieve an equivalent gain.

The basic issue when you are dealing with the __________ characteristic of services is that the time or capacity to provide services is limited and fixed? Select one: a. Invisibility b. Variability c. Intangibility d. Perishability e. Insufferability

Perishability

One of the ways personality is useful to marketers is to use ___________, or enduring characteristics such as innovativeness, self-confidence, sociability, which will vary from person to person; as segmentation variables. Select one: a. Features b. Motivations c. Personality traits d. benefits e. National characters

Personality traits

The two basic sources of motivation discussed in class are? Select one: a. Products, services b. Consumers, businesses c. Physiological, Psychological d. Needs, wants e. Drives, Influence

Physiological, Psychological

_________ utility relates to the satisfaction proud owners get from the products they own. Select one a. Posession b. Form c. Place d. Time e. Image

Posession

Which of the following is NOT one of the dimensions customers use to evaluate service quality? Select one: a. Responsiveness b. Empathy c. Price d. Reliability e. Assurance

Price

For companies operating in an oligopoly market structure, prices tend to be very stable. In these situations, the company with the largest market share might raise its prices in hopes that other, smaller companies will follow. If this happens, the price will increase. This is called the ____________ to setting prices? Select one: a. Price leadership approach b. loss-leader approach c. Above or below approach d. Price line approach e. Customary pricing approach

Price leadership approach

A _____________ sample means that every person in the population of interest has a known chance of being included in the research. Select one: a. Snowball b. Probability c. Biased d. Convenience e. Intercept

Probability

Which of the following is a probability sample? Select one: a. Mall intercept sample b. Free sample c. Snowball sample d. Convenience sample e. Random sample

Random sample

Bruce is afraid he is gaining weight. He got on the scale this morning and he was 10 pounds heavier than he was last night. He got on the scale again after breakfast and he had lost 10 pounds. Just before leaving for school he got on the scale again and he was 5 pounds lighter than he was after breakfast. Clearly, there is a problem with the _________ of Bruce's weight measurements? Select one: a. Representativeness b. Measurement c. Validity d. Reliability e. Trend

Reliability

Roxanne has completed her positioning analysis and believes she understands why her adult milk beverage has been performing so badly. Her product was the first product to use aseptic packaging, which allows milk to be stored at room temperature for long periods of time. Introduced in 1999, the product was positioned as a survival food because everybody was worrying about Y2K problems at the turn of the century. Today people are more concerned about nutrition and her aseptic milk is very low in fat. To take advantage of this, she changes her advertising slogan from "It will keep you alive in the next century" to "A healthy beverage, ready and waiting". Roxanne is trying to? Select one: a. Make people believe that the market leader is selling an unhealthy drink b. Reposition her product against itself c. Reduce her production costs d. Reposition her product against the competition e. She is trying to do all of these things.

Reposition her product against itself

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company identify feasible ideas and turn them into product concepts? Select one: a. Commercialization b. Idea generation c. Technical development d. Market Testing e. New-product strategy development f. Business analysis g. Screening and evaluation

Screening and evaluation

Sameer does not smoke. Every day he walks past a billboard advertising Camel cigarettes. In class, the instructor was talking about how much cigarette advertising is around us and described the billboard advertising Camel cigarettes as an example. Sameer was surprised by this. He had walked by the billboard every day, yet he had never noticed that it was an advertisement for cigarettes. This is an example of _____________? Select one: a. Selective retention b. Selective memory c. Selective service d. Selective interpretation e. Selective attention

Selective attention

Bruce is a fan of the Minnesota Vikings Football team. He was watching a game between the Minnesota Vikings and the San Francisco Fortyniners on San Francisco television station. He expected that the announcers would favor the local team and it appeared that he was right. Even though a national media agency gave the local announcers an award for the most unbiased coverage ever in a televised football game, Bruce remained convinced that the announcers had favored the local team. This is an example of ______________? Select one: a. Selective selection b. Selective retention c. Selective interpretation d. Selective attention e. Selective memory

Selective interpretation

Which of the following is NOT a good source of information to use in understanding your current market position? Select one: a. Complaints from unhappy customers. b. Critical articles published in newspapers. c. The results of market research studies. d. A SWOT analysis. e. Self knowledge

Self knowledge

Eseffisue Company has developed a portable solar-powered global positioning (GPS) device. There is a high demand for the product and until now, there wasn't anything like it on the market at any price. The company has a patent and the most important attribute for a GPS device is quality. Eseffisue Company should use a ____________ approach to pricing this new product? Select one: a. Trial pricing b. Environmental c. Variable price d. Skimming e. Penetration

Skimming

The ____________ approach to new product pricing sets prices high in order to recover development costs more quickly? Select one: a. Penetration b. Variable price c. Trial pricing d. Skimming e. new and improved

Skimming

Which of the following sampling techniques is a nonprobability sample? Select one: a. Random sample b. Systematic sample c. Iceberg sample d. Snowball sample e. Stratified random sample

Snowball sample

A ______________ is one for which a customer will accept no substitute? Select one: a. Specialty product b. Shopping product c. Unobtainable product d. Unsought product e. Convenience product

Specialty product

Which of the following research techniques is most likely to be used in descriptive research? Select one: a. Observation study b. Survey questionnaire c. Focus group d. Ethnography e. One-on-one depth interviews

Survey questionnaire

What do we mean when we speak of the price/value heuristic? Select one: a. That for socially consumed goods, price is part of the product. b. That in general, price is the most important component of value. c. That price is only one factor people use to determine a product's value d. That in general, people perceive a product with a higher price to be a better product e. That in general, the higher the price, the higher the value of the product

That in general, people perceive a product with a higher price to be a better product

Reference groups are important to Marketers because... Select one: a. Reference groups are important to marketers for all of these reasons. b. Aspriational groups tend to have more disposable income c. They serve as information sources and influence opinions d. They are an important market segment e. They are realtively stable over time

They serve as information sources and influence opinions

Two of the major constraints on any market research project are... Select one: a. Time and money b. The availability of information and the cost of acquiring that information. c. Clients and managers d. Uncertainty over methods and probabalistic variables. e. Stakeholders, investors, and customers

Time and money

Which of the following is NOT a motive for a business customer to purchase a product? Select one: a. To be able to demonstrate she is the best purchasing agent in the company. b. To maximize profits for the firm. c. To do business with a salesperson whom the buyer has come to respect and considers to be a friend as well as a business associate. d. To negotiate a price so low that the supplier actually loses money on each transaction. e. To ensure that the products the firm uses meet the end user's quality requirements.

To negotiate a price so low that the supplier actually loses money on each transaction

T/F: A memorandum of understanding summarizes key points in a business agreement.

True

T/F: All of the marketing concepts that deal with tangible products apply to services as well.

True

T/F: It helps to keep your brand name from falling into the common usage if you use the brand name as an adjective, rather than as a noun or verb.

True

T/F: One of the functional benefits of packaging might be that a customer could re-use the package for other things after the product has been consumed.

True

T/F: One of the ways our perceptions are biased is that we see things that aren't really there.

True

T/F: There is no such thing as a good decision or a bad decision at the time you make it.

True

What is the hard way to become the category leader? Select one: a. To close your eyes and wish really, really hard that you are the category leader; then open your eyes and see if you have become the category leader. b. Find an attribute that nobody else is talking about and develop a market position featuring that unique attribute. c. Use the marketing mix to improve your position in an existing category. d. Spend money on advertising to make consumers think your product is superior when, in fact, it is not. e. To acquire the leading products in the category through merger and acquisition.

Use the marketing mix to improve your position in an existing category.

Bruce is very frustrated. He trying to make copies of a handout for his 9:30 principles of marketing class and the copier is jammed. The copier is always jammed. He has complained to the purchasing agent several times, asking them to get a copier that works. Bruce is performing the buying center role of _________? Select one: a. Gatekeeper b. Decider c. Influencer Incorrect d. Buyer e. User

User

Tracy is thinking of marketing a new energy drink. Her key selling proposition will be that her product tastes just as good at room temperature as it does when it is ice cold. She plans on testing whether or not students will like her new energy drink by showing pictures of her drink and the other leading brands to students outside the student union. If the majority of students prefer the picture of her product, she will go ahead with the product launch. Tracy may have a problem with the ___________ of her measurement in this market research project. Select one: a. Generalizability b. Reliability c. Information d. Validity e. Generalizibility

Validity

____________ are the costs of production that are tied to and vary with the number of units produced? Select one: a. Total costs b. Variable Costs c. Marginal costs d. Fixed costs e. Opportunity costs

Variable costs

One of the major issues in designing computer systems to support a marketing information system discussed in class is? Select one: a. Acquiring licenses for syndicated market research reports. b. Which environments will be covered in the environmental scan. c. How many data silos will be needed to support the functional areas in the company. d. Who has permission to enter and/or edit information in the database. e. Whether to rely on free information from the internet or to purchase proprietary information.

Who has permission to enter and/or edit information in the database

Price elasticity is the slope of the demand curve. When price elasticity is HIGH? Select one: a. You can increase profits by cutting prices b. You can increase revenue by increasing prices c. You can decrease revenues by cutting prices d. You can increase revenues by cutting prices. e. You can decrease profits by decreasing prices

You can increase revenues by cutting prices

The only way you can get remediation for a missed mini test is? Select one a. If missing a test will cause you not to pass the class. b. You were physically unable to take the test from the time it was due until after the last chance to re-take it and can prove it with a doctor's excuse or other external documentation. c. You had planned on taking it during the second week it was available, but had to leave the country because of work and couldn't take it when you planned to. d. You tried to take the test, but the computer wasn't working that day. e. If you misunderstood when the due date or the last chance to re-take the test was.

You were physically unable to take the test from the time it was due until after the last chance to re-take it and can prove it with a doctor's excuse or other external documentation

In general, you have more flexibility in setting your prices in the _________ stage of the product life cycle than in the _________ stage of the product life cycle? Select one: a. introductory, maturity b. maturity, growth c. growth, introductory d. decline, disaster e. maturity, introductory

introductory; maturity