Post introduced Honey Bunches of Oats Greek Honey Crunch cereal because market
research showed sales of its traditional Honey Bunches of Oats were down and sales of
Greek yogurt were on the rise.
One of the disadvantages of using style as a discriminator is that consumer tastes
change over time and what is considered stylish can quickly lose its appeal.
The major advantage of brand connections for the brand sponsor is that it is a barrier to
entry for potential competitors, especially for smaller firms that lack brand recognition.
A modified rebuy may occur when a buyer is familiar with the existing product and
supplier but may be looking for additional information. Perhaps new competitors or
products have entered the market or the current supplier is not meeting expectations.
The lower the reach and frequency, the higher the cost of a campaign.
The user expectations method of forecasting relies on answers from customers
regarding their expected consumption or purchases of the product.
Marketing (little m) serves as the driver of business strategy.
The maturity stage of the PLC is characterized as having a few large players dominate
the market followed by a number of smaller companies with specific products meeting
specialized market needs.
Early adopters are opinion leaders who seek out new products but are price-sensitive to
innovation.
_____________ are the largest minority group with a total population of ______.
A. Hispanics, 50 million
B. African-Americans, 60 million
C. Hispanics, 28 million
D. Asians, 40 million
E. African-Americans, 50 million
The 4Ps of marketing refers to ___________.
A. Product, price, place, and promotion
B. The marketing mix
C. How a company can achieve distinction by offering a unique combination of these
elements
D. The basic building blocks of marketing
E. All of these
You are creating a survey for your company. The question you are currently working on
asks your business-to-business customers to describe the ideal purchasing transaction.
You are utilizing a(n) __________ question to collect the desired information.
A. Behavioral
B. Open-ended
C. Observational
D. Closed-ended
E. Probing
Managers may try several methods of forecasting that deliver different predictions. This
leads to __________________.
A. Uncertainty of which methods to use and how accurate they are likely to be
B. The choice to use as many models as possible
C. The view that subjective methods are just as good
D. Uncertainty of which methods to use and how accurate they are likely to be, the
choice to use as many models as possible, and the view that subjective methods are just
as good
E. Both uncertainty of which methods to use and how accurate they are likely to be and
the view that subjective methods are just as good
Deciders are an important group for the salesperson to be able to identify because
________.
A. They make the ultimate purchase decision
B. They decide what characteristics the product should possess
C. They decide what price the company should pay
D. They have control over who is allowed to be a vendor
E. They are users who choose the products they want
____________ has(have) the advantage of interactive capabilities.
A. Online and social media
B. Radio
C. Direct mail
D. Newspaper
E. Television
The marketing manager for ABC Corp. decides to scour her CRM and supplier
databases to see if any helpful information comes to light. She uses a software package
to run a variety of analysis. The problem with what is she doing is that she did not
__________.
A. Hire a statistician
B. Include employee information
C. Ask customer permission
D. Consider her supplier reactions
E. Implement a research process
Moving a customer past a need to really want the product is the _____________ stage
in the AIDA model.
A. Attention
B. Interest
C. Desire
D. Action
E. Advertise
Apple Cora Anderson was born in 2001. She is a member of __________.
A. The baby boomer generation
B. The GI generation
C. The silent generation
D. Generation X
E. The Millennial generation or Generation Z
Value may be defined as the ratio of bundled benefits received to the cost incurred by
the customer to receive those benefits. ____________ is not thought of as one of the
costs.
A. Monetary cost
B. Time to shop
C. Skill or expertise
D. Poor service quality
E. Customer satisfaction
James is trying to determine the best price for his new fishing poles and thus uses the
sales price as a basis of calculating the markup percentage. He is using _________.
A. Cost-plus pricing
B. Price war
C. Average-cost pricing
D. Markup on sales price
E. Target return pricing
When it is said that a service cannot be separated from the provider, and that a service’s
quality can only be as good as that of the provider himself or herself, the service is said
to have __________.
A. Variability
B. Creativity
C. Nonvalence reward for returns
D. Nordstrom’s concept
E. All of these
_________ is the way a site enables two-way communications between user and site.
A. Communication
B. Community
C. Customization
D. Context
E. Connections
When someone buys a car insurance policy, he or she buys _______.
A. The written policy that comes from the agent
B. The office staff, agent, and brand of the insurance company
C. The promise that if something happens to the car, the insurance company will fix it
or replace it
D. The agreement to be there at the site of the accident
E. None of these
A fundamental criterion in vendor selection is the vendor’s ability to meet contractual
obligations including delivery times and service schedules. This concept is called
______.
A. Supplier choice
B. Dependability
C. Reliability
D. Sustainability
E. None of these
x
________ is not part of the market research process.
A. Defining the problem
B. Implementing the recommendations
C. Establishing the research design
D. Collecting the data
E. Searching secondary sources
A marketing audit may be needed in any of the following situations except when
____________.
A. The firm is about to undergo a major rebranding initiative
B. Evidence exists of significant marketing inefficiencies and poor ROMI and other
metrics
C. A new creative agency is coming onboard
D. A recent change has occurred in top management
E. the schedule calls for a routine audit to be done
Contingency plans should include ________.
A. Best-case scenarios
B. Worst-case scenarios
C. Expected-case scenarios
D. Best-case scenarios and Worst-case scenarios only
E. Best-case scenarios, Worst-case scenarios, and Expected-case scenarios