53. SWOTs are useful in clarifying __________ marketing questions.
a. few
b. most
c. all
d. no
54. Strengths are
a. internal and favorable.
b. internal and unfavorable.
c. external and favorable.
d. external and unfavorable.
55. Weaknesses are
a. internal and favorable.
b. internal and unfavorable.
c. external and favorable.
d. external and unfavorable.
56. Opportunities are
a. internal and favorable.
b. internal and unfavorable.
c. external and favorable.
d. external and unfavorable.
57. Threats are
a. internal and favorable.
b. internal and unfavorable.
c. external and favorable.
d. external and unfavorable.
58. Company ABC’s brands and products have perceived strengths, and its marketing department needs to
consider what it can do to assure that these will be sustainable
a. market segments.
b. target markets.
c. competitive advantages.
d. opportunities.
59. Opportunities and threats are usually driven by changes in one of the
a. 5Cs.
b. 4Ps.
c. 3Ds.
d. 4Es.
60. Company ABC is developing a marketing strategy for a new cell phone product and just discovered that
ABC’s biggest competitor is launching a very similar product at almost exactly the same time. In a SWOT
analysis, the competitor’s product would be a(n)
a. strength.
b. weakness.
c. opportunity.
d. threat.
61. Which of the following is needed to develop a market?
a. hiring new people
b. market research
c. developing new skills
d. additional suppliers
62. If a market segment looks attractive, and serving that segment fits our corporate abilities, then we should
a. avoid it.
b. collect some data.
c. do some analysis.
d. go for it.
63. The market for video games looks great, but your company only knows how to make thumb drives. This
scenario is associated with which quadrant in a SWOT analysis?
a. upper left
b. upper right
c. lower left
d. lower right
64. Your company is great at making CD players, but the market for those isn’t so great right now. This
scenario is associated with which quadrant in a SWOT analysis?
a. upper left
b. upper right
c. lower left
d. lower right
65. Corporate strengths should be assessed relative to a firm’s competitors in order to understand customers and
their
a. market segments.
b. awareness.
c. demographics.
d. purchase choices.
66. A form of comparative analysis where customers show their opinions of a firm’s strengths vis-à-vis their
competitors is a
a. perceptual map.
b. SWOT analysis.
c. conjoint analysis.
d. target comparison.
67. Most attributes and benefits in many product categories can be whittled down to
a. needs and wants.
b. price and quality.
c. profit and loss.
d. success and failure.
68. Which of the following is true about our company based on this perceptual map?
a. We dominate competitor 3 on quality.
b. We dominate competitor 3 on price.
c. We are dominated by competitor 1 on price.
d. We are dominated by competitor 2 on quality.
69. Based on this chart, which segment can we pass up with the fewest regrets?
a. 1
b. 2
c. 3
d. 4
70. Company ABC makes kitchen appliances that have many features in great demand by professional chefs
whose only interest is in the foods they can produce. Based on its customers, ABC should try to dominate the
market in
a. price.
b. quality.
c. delivery area.
d. quantity.
71. When sizing a market, errors in estimates are
a. ignored.
b. calculated.
c. compounded.
d. reduced.
72. A market is easier to estimate if the target market
a. is small.
b. is large.
c. has more components.
d. is defined.
73. It’s always a little risky to extrapolate and predict growth, but a smart technique would be to obtain sales
data in the industry and extrapolate through a(n)
a. average.
b. moving average.
c. growth curve.
d. regression.
74. Company XYZ is considering launching a new MP3 player product. It has sized the market and it looks
attractive; however, the company would also be wise to predict the __________ of the market to better assess
its attractiveness.
a. population
b. segments
c. growth
d. moving average
75. Which calculation is the most accurate way to estimate the size of a market?
a. [population × %aware × %trial × %repeat ] × Per annum purchase
b. [population × %trial × per annum purchase] × %repeat
c. population × %aware
d. population × %aware × %trial × %repeat
76. Final probability estimates require information such as industry knowledge or data that may be obtained
from
a. surveying customers.
b. moving averages.
c. SWOT analysis.
d. surveying suppliers.
77. Company ABC is in the process of sizing the market for its new web-based service that allows consumers to
be matched with local attorneys specializing in the area of law pertaining to the consumer’s need. The
marketing team is trying to estimate the purchase decision-making process with respect to how likely it is that
visitors to the site will hire an attorney identified by Company ABC. In estimating the purchase decision-
making process, the marketing team should consider the elements of
a. awareness and intention.
b. awareness, trial, and repeat.
c. segmentation and trial.
d. trial, intention, and repeat.
78. When it comes to market sizing, things tend to be a bit __________ for B2B sellers compared to B2C
sellers.
a. easier
b. more difficult
c. more expensive
d. riskier
79. For market sizing, we start with the __________, and break it down into the __________ that are relevant.
a. proportion, total populations
b. total population, proportions
c. groups, individuals
d. individual, groups
80. Determining which segments to target depends on an interplay between __________ issues.
a. quantitative and strategic
b. qualitative and statistical
c. calculation and estimation
d. practical and theoretical
81. Explain what targeting is and why it has to be done.
82. How do marketers choose segments to target?
83. Describe a SWOT analysis and explain why it is a useful tool.
84. Identify and explain the strategic criteria for targeting segments.
85. Explain what a perceptual map is and what it is used for.
86. Explain how marketers estimate growth using a moving average. What are the benefits of using a moving
average?
87. How do marketers estimate the size of a market? Explain.
88. Tyson wants to sell his services as a fitness and nutrition consultant. When he is estimating profitability,
what factor does he need to consider that a business selling goods does not need to consider?
89. Bob is considering starting an RV business and needs to know about local competitors. Where could he
start?
90. Bob thinks that a new RV business in his area would not face much local competition. How does he size the
market? Include formulas in your answer.
