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