Marketing Quiz

.
(TCO 1) Grape-Nuts was one of the first cereals Post Cereal Company ever marketed. It scores well in brand awareness, but recently its sales have been steadily declining. Rather than assume the product was a dog, the Grape-Nuts marketing manager decided Post Cereals should first (Points : 3) hire a consultant.
engage in marketing research.
spend more dollars on advertising.
hire more salespeople.
develop new cereals.
(TCO 1) The act of consciously choosing from alternatives is called (Points : 3) a dilemma.
a quandary.
decision making.
a paradox.
a predicament.
Question 3.
(TCO 1) Research objectives are the (Points : 3) restrictions placed on potential solutions by the nature of the research.
criteria or standards used in evaluating proposed solutions to the research.
goals the decision maker seeks to achieve in conducting the marketing research.
conjecture about factors or situations that simplify the problem enough to allow it to be solved using the proposed research.
specific goals an organization seeks to achieve and by which it can measure its performance.
Question 4.
(TCO 1) A test market is an example of which type of marketing research? (Points : 3) Descriptive
Explanatory
Exploratory
Causal
Concrete
Question 5.
(TCO 1) When Home Depot entered the Quebec market, 2% of the population was aware of the retail chain. To determine how effective its advertising was in the first 18 months of its presence in the Canadian province, it conducted awareness research for a second time. Prior to conducting the research, it was decided that if at least 50% of the population was aware of the Home Depot brand, it would continue its present advertising program. This is an example of a(n) (Points : 3) objective.
constraint.
assumption.
measure of success.
barrier to entry.
Question 6.
(TCO 3) Fisher-Price managers developed a(n) _____ for the Chatter Telephone that involved adding a noisemaker, wheels, and eyes to the basic telephone. (Points : 3) vision
alternative
hypothesis
new-product concept
opportunity
Question 7.
(TCO 1) Secondary data are the (Points : 3) facts and figures that are newly collected for the project at hand.
facts and figures obtained by watching people mechanically rather than in person.
facts and figures obtained by asking people questions.
facts and figures that have already been recorded before the project.
conclusions developed from information obtained from a representative sample of a population.
Question 8.8. (TCO 3) Market segmentation stresses _____ and relating needs and benefits to specific marketing actions. (Points : 3) grouping people randomly in a market
market sectioning
grouping people according to similar needs
splitting people randomly between markets
product-based market development
Question 9.
(TCO 3) MyTwinn makes dolls that look like young girls. For $119, it will make a doll that looks just like a photograph. So, if you send in the money and a photo of your young niece, she could have a doll that is her twin! This is an example of (Points : 3) mass customization.
synergy.
target marketing.
how the 80/20 rule is implemented.
repositioning.
Question 10.
(TCO 6) The first step in segmenting and targeting markets is to (Points : 3) recognize a need.
group potential buyers into segments.
create product groupings.
estimate size of the overall market.
develop a market-product grid.
Question 11.
(TCO 6) Which of the following is not a criterion used in forming segments? (Points : 3) Potential for increased profit
Similarity of needs of potential buyers within a segment
Competitive position
Potential of marketing action to reach a segment
Simplicity and cost of assigning potential buyers to segments
Question 12.
(TCOs 3, 5, and 6) A market-product grid is a framework to relate the market segments of potential buyers to (Points : 3) estimated expenses for products sold.
total anticipated revenue.
total anticipated profit.
market share compared to closest competitor.
products offered or potential marketing actions by an organization.
Question 13.
(TCO 6) Which of the following is a criterion used for selecting a target segment? (Points : 3) Potential for increased profit
Difference of needs of buyers among segments
Potential of a marketing action to reach a segment
Question 14.
(TCOs 3, 5, and 6) Changing the place an offering occupies in consumers’ minds relative to competitive products is called (Points : 3) perceptual mapping.
product positioning.
psychographics.
Question 15.
(TCOs 3, 5, and 6) Which of the following data are collected from consumers to develop a perceptual map for a particular product? (Points : 3) A listing of all prospective brands and products
Managerial judgments about how consumers perceive products
Ratings of an ideal product’s or brand’s attributes
Rank order of the ratings of an existing brand’s preference relative to its competitors
Question 16.
(TCOs 1, 3, 5, and 6) A product is a good, service, or idea consisting of a _____ that satisfies consumers and is received in exchange for money or some other unit of value. (Points : 3) warranty from the seller
bundle of tangible and intangible attributes
bundle of tangible attributes
a tangible received in exchange for a person’s time
bundle of intangible attributes
Question 17.
(TCOs 1, 3, 5, and 6) The terms continuous innovation, dynamically continuous innovation, and discontinuous innovation are classifications based on (Points : 3) generated sales.
production technology.
degree of learning required by the consumer.
channels of distribution.
industry growth.
Question 18.
(TCOs 1, 3, 5, and 6) When General Foods introduced Post Cereals with freeze-dried fruits, people found that by the time the fruit had absorbed enough milk, the flakes were soggy. Why did this product fail? (Points : 3) Poor product quality
Insignificant point of difference compared to competitive offerings
Too little market attractiveness
Poor execution of the marketing mix
No economical access to buyers
Question 19.
(TCOs 1, 3, 5, and 6) The first stage in the new-product process is (Points : 3) idea generation.
screening and evaluation.
business analysis.
new-product strategy development.
concept testing.
Question 20.
(TCOs 3 and 6) Breyers introduced a new line of ice cream flavors for sale in elegant black containers. This was done on a limited scale to determine consumer reactions before national distribution of the product. Breyers new product was in the _____ stage of the new-product process. (Points : 3) commercialization
screening and evaluation
business analysis
development
market testing
Question 21.
(TCOs 1, 3, 5, and 6) The marketing objective for a product in the _____ stage of the product life cycle is to create consumer awareness and gain trial. (Points : 3) introduction
growth
maturity
decline
harvest
Question 22.
(TCOs 1, 3, 5, and 6) Promotional expenditures at the introduction stage of the product life cycle are best spent on (Points : 3) contests and sweepstakes.
creating selective demand.
creating primary demand.
personal endorsements.
maintaining brand loyalty.
Question 23.
(TCOs 1, 3, 5, and 6) The stage in the product life cycle labeled A in the below figure is called
(Points : 3)
introduction.
maturity.
growth.
diversification.
decline.
Question 24.
(TCOs 1, 3, 5, and 6) At which stage in the product life cycle do industry profits usually peak? (Points : 3) Introduction
Growth
Maturity
Decline
Commercialization
(TCOs 1, 3, 5, and 6) The swoosh that appears on every Nike product is an example of a (Points : 3) copyright.
trade name.
service mark.
brand name.
generic brand.