Devry Busn319 Week 4 Quiz Prefect Question 1 Tco The Broad Goal

Question 1.1.(TCO 1) The broad goal of _____ is to identify and define both marketing problems and opportunities and to generate and improve marketing actions. (Points : 3)
sales promotion
marketing research
tactical support
Question 2.2.(TCO 1) The act of consciously choosing from alternatives is called (Points : 3)
a dilemma
a quandary
decision making
a paradox
a predicament
Question 3.3.(TCO 1) During the marketing research process, _____ are the specific, measurable goals the decision maker seeks to achieve in conducting the marketing research.(Points : 3)
measures of success
research objectives
marketing research plans
Question 4.4.(TCO 1) A test market is an example of which type of marketing research? (Points : 3)
Question 5.5.(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)
measure of success.
barrier to entry.
Question 6.6.(TCO 3) A picture or verbal description of a product or service a firm might offer for sale is known as a(n) (Points : 3)
new-product concept.
Question 7.7.(TCO 1) Facts and figures that are newly collected for a project at hand are called (Points : 3)
internal secondary data
external secondary data
primary data
observational data
tertiary data
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 9.9.(TCO 3) To create a _____ strategy, allows customers to visit its website and design a sneaker to their personal specifications. (Points : 3)
product sampling
product extrapolation
mass customization
usage segmentation
psychographic segmentation
Question 10.10.(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 11.11.(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 12.12.(TCOs 3, 5, and 6) A market-product grid is a framework to relate (Points : 3)
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
market segments of potential buyers to relative market share compared to the closest competitor
Question 13.13.(TCO 6) Which of the following is a criterion used for selecting a target segment? (Points 🙂
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
Competitive position
Question 14.14.(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.
product differentiation.
Question 15.15.(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
Identification of the important attributes for a product class
Rank order of the ratings of an existing brand’s preference relative to its competitors
All of the above
Question 16.16.(TCOs 1, 3, 5, and 6) A _____ is the marketing term for a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value. (Points : 3)
market decision.
market factor
utility bundle
Question 17.17.(TCOs 1, 3, 5, and 6) The Federal Trade Commission considers a product new only (Points: 3)
for a period of 6 months after it enters regular distribution
for a period of 1 year after it enters regular distribution
until a similar product is introduced by a competitor
until a newer version of the same product is produced
for a period of 17 years, at which time patent rights are returned to the public domain
Question 18.18.(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 19.19.(TCOs 1, 3, 5, and 6) A company defines the role for new products in terms of the firm’s overall corporate objectives in the _____ stage of the new-product process.(Points : 3)
idea generation
distinctive competency
new-product strategy development
business mission
strategic management process
Question 20.20.(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)
screening and evaluation
business analysis
market testing
Question 21.21.(TCOs 1, 3, 5, and 6) A product in the introduction stage of the product life cycle should have which of the following marketing objectives? (Points : 3)
Gain awareness and stimulate trial.
Stress differentiation.
Maintain brand loyalty.
Gain as much distribution as possible.
Reveal a marketing niche
Question 22.22.(TCOs 1, 3, 5, and 6) When the National Cattlemen’s Beef Association advertises “Beef, It’s What’s for Dinner,” it is trying to stimulate _____ demand. (Points : 3)
Question 23.23.(TCOs 1, 3, 5, and 6) The stage in the product life cycle labeled C in the below figure is called
(Points : 3)

Question 24.24.(TCOs 1, 3, 5, and 6) At which stage in the product life cycle do industry profits usually peak? (Points : 3)
Question 25.25.(TCOs 1, 3, 5, and 6) The swoosh that appears on every Nike product is an example of a (Points : 3)
trade name.
service mark.
brand name.
generic brand.

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