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12. When outliers are present in the data set, the ________ is the best choice to measure central tendency. A) median B) standard deviation C) mean D) mode E) none of the above

A

Price is best described as _____. A. that which is given up in exchange to acquire a good or service B. money exchanged for a good or service C. the psychological results of purchasing D. the cost in dollars for a good or service as set by the producer E. the value of a barter good in an exchange

A

Airlines have developed frequent-flyer programs to encourage passengers to use the same airlines repeatedly. These programs and other similar ones use ________ segmentation to target their markets. A. demographic B. usage rate C. geographic D. benefits E. psychographic

B

The stages of the product life cycle, in order, are _____ . A. introduction, maturity, decline B. introduction, growth, maturity, decline C. growth, maturity, plateau, decline D. innovation, early adoption, late adoption, laggard E. category acceptance, category growth, brand acceptance, brand growth

B

Which of the following is true about a targeting strategy? A. With a custom marketing strategy, a company develops one or more products for each of several customer groups with different product needs. B. A differentiated targeting strategy is appealing to a broad spectrum of people. C. Saying "customers want to express their individuality with the products they buy" reflects a concentrated targeting strategy. D. A concentrated targeting strategy is focusing a firm's efforts on offering one or more products to a single segment. E. An undifferentiated targeting strategy is an approach that modifies a basic good or service to meet the needs of an individual.

D

The Wall Street Journal subscriber survey (October 13, 2013) asked 46 questions about subscriber characteristics and interest. State whether each of the following questions provided qualitative or quantitative data and indicate the measurement scale appropriate for each. a) What is your age? b) Are you male or female? c) When did you first start reading the WSJ? High school, college, early career, mid-career, late career, or retirement? d) How long have you been in your present job or position? e) What type of vehicle are you considering for your next purchase? Nine response categories include sedan, sports car, SUV, minivan, and so on.

a). Age: Quantitative; ratio scale of measurement b). Gender: Qualitative; nominal scale of measurement c). When start reading WSJ? Qualitative; ordinal scale of measurement since the responses can be ordered from earliest (high school) to latest (retirement) d). How long in job? Quantitative; ratio scale of measurement e). Type of vehicle: Qualitative; nominal scale of measurement