MKTG 303 Principles of Marketing Exam 2
MKTG 303 Principles of Marketing Course Help
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Exam 2
Question 1
2 / 2 pts
A _____ is a master plan created by a marketer for conducting market research.
research hypothesis
research cluster
research design
probability sample
Question 2
2 / 2 pts
Although cost effective, an online focus group _____.
does not generate immediate results
does not allow the moderator to see body language or nonverbal cues
generates a solid representative sample
encourages the testing of sample products
Question 3
2 / 2 pts
A _____ is a strategic relationship that extends to external entities but involves no direct buyer-seller interactions.
buyer partnership
network partnership
lateral partnership
seller partnership
Question 4
2 / 2 pts
Which of the following changes is seen as a result of a rise in households with only one person?
Increase in single-serve food products
Decrease in the average size of new cars
Decrease in the marketing of vacations
Increase in apartment building developments
Question 5
2 / 2 pts
Jake is determining which customers should be included in a study sample. According to this information, Jake is in which stage of the marketing research process?
Formulating a hypothesis
Collecting data
Defining a problem
Creating a research design
Question 6
2 / 2 pts
You overhear your parents having a conversation about the family’s grocery list and which of them is going to do the shopping this coming weekend. Your mother typically does the grocery shopping and has a comprehensive process, which entails researching supermarkets that have the best sales, clipping coupons, and identifying which items she wants from the circulars that are mailed weekly to the house. She prefers to do the shopping herself but has to go out of town, leaving your dad with this responsibility. Your dad generally just buys whatever he thinks you and your siblings will like and prefers to be in and out of the grocery store. What can be said about your parents’ purchase decision styles?
Involvement in purchase decisions may vary from one person to the next.
Men are more likely to rely on personal determinants when making purchase decisions.
More time elapses between the problem/opportunity recognition and the purchase act stages of the purchase decision process for your dad.
Both of them engage in high-involvement decisions.
Your mom’s purchase decision process requires low-involvement because she does most of the grocery shopping for your family.
Question 7
2 / 2 pts
Which of the following is the earliest method used for gathering marketing information?
Delphi technique
Email surveys conducted by research professionals
Telephone surveys conducted to assess household preferences
Written testimonials received from purchasers of a firm’s products
Question 8
2 / 2 pts
Vanessa owns a music company and has been storing a wealth of information ranging from customer contact information to the names of each record the customers have purchased. In order to stay competitive, she had a tech company build a marketing decision support system (MDSS) for her to enable quick decision making. One of the features Vanessa likes best about her company’s MDSS is the system’s ability to manage and produce information in various formats. Moreover, as the user or decision maker changes topics, the system matches information to the problem that has been introduced.
Which of the following characteristics of a marketing decision support system is represented in the example above?
inexpensiveness
flexibility
interactivity
accessibility
investigative properties
Question 9
2 / 2 pts
Which of the following firms is ranked as the world’s largest marketer in terms of annual sales?
ExxonMobil
General Electric
Walmart
Royal Dutch Shell
Question 10
2 / 2 pts
Candace has been using the same shampoo brand for decades. When she finally dyes her hair, however, her hairdresser informs her that she will need to find a new shampoo that can help maintain her new color, prevent breakage, and condition her hair. Before going to the beauty supply store, Candace calls a few friends for recommendations and conducts web-based research on shampoos that address her specific needs. What can one infer about purchase decisions?
Every consumer approaches purchase decisions the same way.
The same purchase decision requires the same level of involvement every time.
Purchase decisions are always based on personal factors and preferences.
Product cost is the only factor that determines whether a consumer will engage in a low- or high-involvement purchase decision.
Buying shampoo can be a high-involvement purchase decision.
Question 11
2 / 2 pts
Which of the following is a type of nonprobability sample?
Cluster sample
Convenience sample
Simple random sample
Stratified sample
Question 12
2 / 2 pts
_____ is a form of exporting in which a firm barters products rather than selling them for cash.
Free trade
Countertrade
Franchising
Subcontracting
Question 13
2 / 2 pts
Starbucks marketing itself as “premium coffee” beverage retailer is an example of a positioning strategy based on _____.
product homogeneity
product users
product class
product life cycle stage
Question 14
2 / 2 pts
According to Maslow, _____ needs concern essential requirements for survival such as food, water, shelter, and clothing.
esteem
belongingness
physiological
self-actualization
Question 15
2 / 2 pts
McBurgers plans to introduce a new line of fish sandwiches to fifteen stores in eastern United States for a six-month period. If the product and promotional efforts behind it are successful, the company may launch them nationwide. What type of research is being conducted to determine potential success?
Stratified sampling
Trend analysis
Test marketing
Exploratory research
Question 16
2 / 2 pts
In the 1800s, more than 90 percent of Americans worked in _____ industry.
automobile
shipping
farming
service
Question 17
2 / 2 pts
Which of the following scenarios best illustrates reinforcement in purchasing decisions?
A chef purchases mushrooms for a second time from a wholesaler, even though the first order was disappointing.
A needle on the gas gauge signals a driver to pull into a gas station.
An appliance distributor replaces a dishwasher free of charge and provides excellent after-sales service.
The smell of hot dogs at a ballpark induces an obese man to order “a dog with everything on it.”
Question 18
2 / 2 pts
Technology presents challenges for global marketers that extend beyond the Internet and other telecommunications innovations. A major technological issue involving food marketers is _____.
reverse engineering
genetic reengineering
value engineering
business process reengineering
Question 19
2 / 2 pts
Penelope is using data collected and published by a trade association in her marketing research study. The data used by Penelope can be regarded as _____.
experimental data
primary data
raw data
secondary data
Question 20
2 / 2 pts
Kyle plans to buy new tires for a car that his family uses for camping trips. These tires are of the same type like those that are used on General Motors commercial trucks and can be purchased from Industrial Tire Company. The tires that Kyle will buy for his car can be classified as _____ products.
consumer
MRO
service
business
Question 21
2 / 2 pts
You have just been promoted to vice president of marketing for your firm. Unlike your predecessor, you believe the firm can increase its sales in a market by focusing on more than one segment of the market. You recognize that doing this means your firm will incur higher production costs. Based on this information, which of the following targeting strategies are you advocating?
a heterogeneous targeting strategy
a concentrated targeting strategy
a broad-based targeting strategy
a differentiated targeting strategy
an undifferentiated targeting strategy
Question 22
2 / 2 pts
Placing a product at a certain point or location within a market in the minds of prospective buyers is known as _____.
value engineering
optimizing
social referencing
positioning
Question 23
2 / 2 pts
The _____ is a major player in the international legal environment, which lends foreign exchange to nations that require it to conduct international trade.
Collective Security Treaty Organization (CSTO)
International Monetary Fund (IMF)
International Monetary Fund (IMF)
World Trade Organization (WTO)
Question 24
2 / 2 pts
A nation’s size, per-capita income, and stage of economic development determine its prospects as a host for _____.
free trade association
international business expansion
public private partnership
regional economic integration
Question 25
2 / 2 pts
Which of the following actions generally helps marketers encounter new products, new approaches to distribution, or clever new promotional ideas?
Globalization
Product standardization
Developing core values
Market penetration
Question 26
2 / 2 pts
Best Buy Rewards Program tracks customer sales, and periodically issues coupons to customers based on the values of prior purchases. This marketing effort by Best Buy can be regarded as _____ marketing.
societal
affinity
frequency
database
Question 27
2 / 2 pts
_____ is a quantitative forecasting technique that assigns weights to historical sales data, giving the greatest weight to the most recent data.
Delphi technique
Exponential smoothing
Jury of executive opinion
Test market
Question 28
2 / 2 pts
Relationship marketing focuses on developing long-term, high-value relationships with many different stakeholders including _______________.
regulators
creditors
environmentalists
distributors
consumer advocacy groups
Question 29
2 / 2 pts
Which of the following industries makes the largest contribution to the United State’s gross domestic product?
Service industry
Oil industry
Automobile industry
Manufacturing industry
Question 30
2 / 2 pts
At which stage of the consumer decision-making process is cognitive dissonance most likely to occur?
Postpurchase evaluation
Purchase decision and purchase act
Search
Evaluation
Question 31
2 / 2 pts
One of the advantages of national account selling is:
a decrease in the value of risk adjusted return on capital.
an increased inventory turnover for the firm.
lowered switching costs for a firm’s loyal customers.
a strengthened buyer-seller relationship through collaboration.
Question 32
2 / 2 pts
While researching on the idea of opening his own health club, Tom learned that there are 11 million health club members in the United States, and 90 percent of them are between the ages of 18 and 49. They prefer to exercise with people of their own gender, and the majority of them are urban dwellers. During the process of market segmentation, this information is most likely to be used by Tom for:
developing a market segment profile.
observational analysis.
forecasting total market potential.
marketing research.
Question 33
2 / 2 pts
Marketing to Asian American consumers is challenging as:
they have considerably less disposable income compared to other minority groups.
they belong to multiple ethnic groups with their own language, religion, and value systems.
they are widely spread in different regions of the United States.
they have a high acculturation rate.
Question 34
2 / 2 pts
_____ defines consumer groups according to variables such as gender, age, income, occupation, education, sexual orientation, household size, and stage in the family lifecycle.
Product-based segmentation
Demographic segmentation
End-use segmentation
Geographic segmentation
Question 35
2 / 2 pts
Which of the following product purchases would most likely require a high-involvement decision?
Shampoo
Car
Hair dryer
Magazine subscription
Question 36
2 / 2 pts
Jack is a research specialist who has spent six months conducting a detailed study of customer attitudes and expectations. In writing the final report, Jack should remember to:
elaborate on the technical details of the research methods in the introduction.
present the results to all key executives in separate meetings.
direct his report toward the management and not other researchers.
include only the primary data collected as it is more specific for the current research.
Question 37
2 / 2 pts
The group born between 1968 and 1979, now generally in their early 30s to early 40s, often are referred to as _____.
Baby Boomers
Generation X
seniors
teenagers
Question 38
2 / 2 pts
While forming partnerships in business-to-business markets, organizations primarily look for companies that:
have shorter distribution channels than their competitors.
are focused on product-orientation.
can add value to the relationship.
differ from them in the core values and goals.
Question 39
2 / 2 pts
You are watching an episode of a new game show that tests contestants’ knowledge by giving them phrases they must respond to with a question.
The following marketing-related phrase comes up in the bonus round of the game:
“It’s an informed guess or assumption about a problem or a specific event. It sets the stage for in-depth research and clarifies what the researcher needs to test.”
The contestant’s response should be
What is a plausible conclusion?
What is an objective statement?
What is a hypothesis?
What is a qualitative data point?
What is a conclusive research finding?
Question 40
2 / 2 pts
A positioning map:
outlines how to introduce a new product to the marketplace.
can be used only for already successful products in the market.
is used primarily by companies utilizing undifferentiated marketing strategies.
shows how consumers view a product relative to competitive products.
Question 41
2 / 2 pts
Michael is a marketer who conducts research for small startups. He has been consulting for an agency that is having trouble managing data about various marketing mix variables, sales, and consumer distribution across the United States. The head of the company wants to be able to access information quickly and easily.
Which of the following should Michael suggest that the startup use to organize its information?
data mining
business intelligence
marketing decision support system
competitive intelligence
marketing information system
Question 42
2 / 2 pts
Bristol-Myers Squibb, a large pharmaceutical company, has developed a campaign featuring Lance Armstrong promoting their development of cancer drugs. The campaign has a slogan, “Together We Can Prevail.” This marketing strategy is being used by the company to satisfy ____ needs in the Maslow’s hierarchy of needs.
safety
physiological
self-actualization
esteem
Question 43
2 / 2 pts
Majority of the Hispanic population in the United States originate from _____.
Mexico
Cuba
Peru
Brazil
Question 44
2 / 2 pts
At specific mileage intervals, Capitol sends coupons to owners of their automobiles offering discounts on repair services through the dealerships. Each repair visit is overseen by a trained service representative, and the completed repairs are followed up to ensure customer satisfaction. The attention given by the dealership is called _____.
shadowing
shaping
screening
scaling
Question 45
2 / 2 pts
Which of the following industries has seen a steady growth in the United States in the recent years with nearly 80 percent of Americans now working in it?
Service
Manufacturing
You Answered
Agriculture
Automobile
Question 46
2 / 2 pts
You are the campaign manager for a candidate running for mayor of Hartford, Connecticut. You are running a series of focus group sessions with Hartford residents to get a better idea of their needs and wants.
Your focus group sessions are an example of which of the following types of research?
experimental research
descriptive research
exploratory research
marketing research
conclusive research
Question 47
2 / 2 pts
Kate believes the reason the sales of one of her company’s products has fallen is due to a price increase. She cites sales from the previous year to the same customers as evidence of declining sales. Kate is:
developing a research design.
identifying a symptom.
formulating a hypothesis.
conducting exploratory research.
Question 48
2 / 2 pts
_____ is a cooperative arrangement in which two or more businesses team up to closely link their names on a single product.
Cobranding
Comarketing
Lateral partnership
Symbiotic marketing
Question 49
2 / 2 pts
Consumers are more likely to experience cognitive dissonance when:
the purchase has been made at discount prices.
the purchased product has routine uses.
the product company offers excellent after-sales service.
the purchase decision has potential economic consequences.
Question 50
2 / 2 pts
A business school instructor talks about a “generally favorable attitude toward foreign investment.” Which factor is most likely to be an obstacle to the American attitude toward foreign investment’s being totally favorable?
competition from foreign products for U.S. consumers
less criticism by regular and social media outlets
large advertising budgets that attract undue attention
need for bilingual employees to explain the products
longer-lasting products with more attractive features
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