ENTR 321 Chapter 10
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) Below-average-income wage earners
Laggards
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) Tradition-oriented people who often live in the past
Laggards
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) Unskilled labor
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). -Early Adopters -Early Majority -Laggards -Innovators -Late Majority
1. Innovators 2. Early Adopters 3. Early Majority 4. Late Majority 5. Laggards
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) Future oriented
Early Adopters
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) Owners of small businesses; non-managerial office and union managers
Early Majority
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) Present oriented
Early Majority
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) High-income people who have incomes from salary and investment.
Early adopters
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) Above-average-income wage earners
Early majority
It is usually more expensive to gather secondary data than primary data True or False
False
Only major strategic decisions need to be supported through marketing research True or False
False
Pricing procedures are the same for all types of ventures. True or False
False
Skimming is setting prices at such a low level that products are sold at a loss. True or False
False
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) High-Income people who have inherited their wealth.
Innovators
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) Highest professionals, including merchants and financiers
Innovators
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) Present (security) oriented
Late Majority
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) Skilled labor
Late Majority
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) Average-income wage earners
Late majority
The 4Cs of marketing include all the following except: a.) continuity b.) choice c.) cocreation d.) communities
continuity
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.) resource management, context, and content b.) cost, complexity, and relevancy c.) control contribution, and distribution d.) creating something of value, enabling customer promotion, and encouraging participation
creating something of value, enabling customer promotion, and encouraging participation
Of the following, which is not associated with entrepreneurial tactics in market research? a.) lead user research b.) in-person interviews c.) blog monitoring d.) guerrilla marketing
in-person interviews
When developing a survey, you should consider a.) ask leading and biased questions b.) including questions only pertaining to the study c.) the personality of the respondents d.) giving concise but incomplete instructions
including questions
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) Present oriented, but worried about the impact of time
innovators
Of the following, which does the textbook identify as critical to the marketing planning process? a.) marketing myopia b.) market segmentation c.) marketing research d.) market niche
marketing research
The 4Ps of marketing include all the following except: a.) promotion b.) principle c.) price d.) product
principle
What is penetration pricing? a.) setting price to maximize market share b.) setting price to maximize profit c.) setting price to match the competition d.) setting price to switch customers to new product lines
setting price to maximize market share
What is skimming? 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
setting price to maximize profit
In the marketing shift from the 4Ps to the 4Cs, price shifts to choice and promotion shifts to communities True or False
True
Marketing information that has already been compiled is known as secondary data. True or False
True
Marketing research involves the gathering of information about a particular market, followed by analysis of the information True or False
True
Mobile social media applications can be differentiated based on location-sensitivity as well as on time sensitivity. True or False
True
Pricing in the social media age is sometimes based on a model that offers basic levels of service for free. True or False
True
Social media marketing is the application of online collaborative media for marketing purposes. True or False
True
A market is a.) a way of gaining consumer data b.) a group of known purchasers c.) a group of consumers who have purchasing power and unsatisfied needs d.) a segment of the economy
a group of consumers who have purchasing power and unsatisified needs
All of the following techniques are used in gathering primary data except a.) surveys b.) analysis of financial records c.) observational methods d.) experimentation
analysis of financial records
Inhibitors to marketing research include all of the following except: a.) complexity b.) distribution c.) cost d.) irrelevancy
distribution
Choose the appropriate consumer type that corresponds with the following descriptions. (Early Adopters, Early Majority, Innovators, Laggards, Late Majority) Middle managers and owners of medium-sized businesses
early adopters
Secondary data consists of a.) internal data only b.) existing information c.) external data only d.) newly developed primary research
existing information
What is meant by pricing for the life cycle? a.) that pricing needs to be adjusted at each stage in a product's life cycle b.) that pricing of new products needs to start out high and end low c.) that pricing needs to be increased at each stage in a product's life cycle d.) that pricing of new products needs to start out low and end high
that pricing needs to be adjusted at each stage in a products life cycle
Of the following pricing models, which is not indicative of pricing in the social media age? a.) the growth stage model b.) the subscription model c.) the freenium model d.) the affiliate model
the growth stage model
Market segmentation is a.) the process of segmenting the sales force b.) the process of categorizing products into different segments c.) heavily psychographic nature d.) the process of identifying a specific set of characteristics that differentiate one group of consumers from the rest
the process of identifying a specific set of characteristics that differentiate one group of consumers from the rest