Busn 319 Quiz Week 4 100 All Answers Instructor S Explanations

BUSN 319 Quiz week 4

100% All correct answers + Instructor’s explanations

1. Question : (TCO 1) The Book Promoters Association of Canada members recently questioned what could be done to rejuvenate the Canadian book publishing industry. Some members claimed the problem was Canadian retailers had been replaced by Wal-Marts. Others said the problem was with stodgy promotions. Still others said the problem was caused by too little money being budgeted to fund marketing programs. It was time that Canadian book publishers used __________ to save the industry.

advertising

sales promotion

publicity

marketing research

tactical support

2. Question : (TCO 1) A conscious choice made from among two or more alternatives is called a

dilemma

quandary

decision

paradox

predicament

3. Question : (TCO 1) During the marketing research process, __________ are the specific, measurable goals the decision maker seeks to achieve in conducting the marketing research.

measures of success

research objectives

marketing research plans

decisions

definitions

4. Question : (TCO 1) An interview is an example of which type of marketing research?

descriptive

explanatory

exploratory

causal

concrete

5. Question : (TCO 1) One test of whether marketing research should be done is

whether different outcomes will lead to different marketing actions.

whether different outcomes will lead to the unrelated marketing actions.
using a jury of executive opinion to interpret the data.

agreeing to take action only if the decision is unanimous.

if top management has the final say on actions taken after research is completed.

6. Question : (TCO 3) In the world of marketing, __________ are ideas about products or services.

concepts

notions

perceptions

impressions

theories

7. Question : (TCO 1) Facts and figures that are newly collected for a project at hand are called

: internal secondary data.

external secondary data.

primary data.

observational data.

tertiary data.

8. Question : (TCO 3) The process of segmenting a market and selecting specific segments as targets is the link between __________ and the organization’s marketing program.

self-regulatory industry standards

government regulations

top-level management

market needs

controllable environmental factors

9. Question : (TCO 3) Lands End will custom fit the Marinac jacket and make it with additional features such as thumb loops, underarm ventilation slits, and a key clip when you order from LandsEnd.com. This is an example of

mass customization.

synergy

target marketing.

how the 80/20 rule is implemented.

repositioning

10. Question : (TCO 6) There are five steps involved in segmenting and targeting a market. What should a marketer do once he or she has selected a target market?

create product groupings

develop a market-product grid

estimate size of market

take marketing actions to reach that target market

form prospective buyers into market segments

11. Question : (TCO 6) Which of the following is NOT a criterion used in forming segments?

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

12. Question : (TCO 3, 5 & 6) A market-product grid is a framework to relate

estimated expenses for products sold to various market segments.

total anticipated revenue for each product to market segments.

total anticipated profit for each product to segments.

the market segments of potential buyers to products offered or potential marketing actions by an organization.
the market segments of potential buyers to relative market share compared to closest competitor.

13. Question : (TCO 6) Which of the following is a criterion used for selecting a target segment?

potential for increased profit

similarity of needs of potential buyers within a segment

difference of needs of buyers among segments

potential of a marketing action to reach a segment

compatibility with the organization s objectives and resources

14. Question : (TCO 3, 5 & 6) Changing the place an offering occupies in consumers’ minds relative to competitive products is called

perceptual mapping.

product positioning.

product differentiation.

repositioning

psychographics

15. Question : (TCO 3, 5 & 6) Which of the following data are collected from consumers to develop a perceptual map for a particular product?

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
All of the above data are collected from consumers.

16. Question : (TCO 1, 3, 5 & 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.

warranty from the seller

bundle of tangible and intangible attributes

bundle of tangible attributes

a tangible received in exchange for a person’s time and

bundle of intangible attributes

17. Question : (TCO 1, 3, 5 & 6) Which of the following is NOT an attribute of a new product?

The product is less than 6 months old.

The product requires a significant degree of new learning by consumers.
The product is new in legal terms.

The product is new from a competitor’s perspective.

The product is new from the organization’s perspective.

18. Question : (TCO 1, 3, 5 & 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?

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

19. Question : (TCO 1, 3, 5 & 6) The stages a firm goes through to identify business opportunities and convert them into salable goods or services are called the

situation analysis.

new-product process.

strategic management process.

SWOT analysis.

idea generation process.

20. Question : (TCO 3 & 6) When audiences are allowed to preview actual movies such as Pretty Woman and National Treasure: Book of Secrets before they are released to the general public, it is a part of the __________ stage of the new-product process.

market testing

business analysis

commercialization

screening and evaluation

concept testing

21. Question : (TCO 1, 3, 5 & 6) Lack of profit in the introductory stage of the product life cycle is very often the result of

insufficient allocation of resources to the marketing mix.

poor selection of distribution channels.

high taxes.

large investment costs in product development.

ineffective execution of the marketing program.

22. Question : (TCO 1, 3, 5 & 6) When the Floral Council advertises giving flowers as a thoughtful and appreciated gift for any occasion it is trying to stimulate __________ demand.

selective

primary

derived

generic

secondary

23. Question :
(TCO 1, 3, 5 & 6) The stage in the product life cycle labeled A in above Figure is called

introduction

maturity

growth

diversification

decline

24. Question : (TCO 1, 3, 5 & 6) Which of the following is a characteristic of the growth stage of the product life cycle?

advertising emphasis switches to primary demand

growing proportion of repeat purchasers to initial purchasers

product features remain unchanged

profit margins increase as sales increase

All of the above are characteristics of the growth stage of the product life cycle.

25. Question : (TCO 1, 3, 5 & 6) The apple that appears on every Apple computer product is an example of a

copyright

trade name

service mark

brand name

generic brand

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