NU MKT302A WEEK 2 QUIZ

| June 10, 2016

Question
Question 1

The purpose of market segmentation is to:

reduce the market down to a size the firm can handle

divide the market into equal size and profit regions for sales territories

group a large number of markets together, enabling a company to serve them simultaneously

develop a generalized definition of the market as a whole

enable the marketer to tailor marketing mixes to meet the needs of one or more specific groups

Question 2

For a product to be called a business product, it must be used to manufacture other products, become part of another product, or aid the normal operations of an organization.

True

False

Question 3

Which of the following tools is particularly effective for B-to-B marketers to use for product demonstration?

text messaging

social networking sites

blogs

mobile marketing

video

Question 4

To save money on marketing research, a marketing manager suggests that the company use the results of a survey conducted last year because similar questions were asked then. The manager is suggesting use of primary data.

True

False

Question 5

A segmentation plan must produce segments that are accessible-that is, the firm must be able to reach members of targeted segments with customized marketing mixes.

True

False

Question 6

A market is people or organizations that have:

the ability, willingness, and power to buy.

a medium of exchange and products they desire.

needs and wants and an ability and willingness to buy.

unmet needs or wants and products or services that satisfy those unmet needs or wants.

communication, financial, and capital resources.

Question 7

Marketing research has three functional roles. These roles are:

normative, descriptive, and explanatory

predictive, normative, and persuasive

descriptive, diagnostic, and predictive

flexible, interactive, and discovery-oriented

descriptive, explanatory, and predictive

Question 8

The first step in the marketing research process is to identify and formulate the problem/opportunity.

True

False

Question 9

Because formal committees are often established to purchase business products, members of buying centers can be readily identified on formal organizational charts.

True

False

Question 10

Managers can use the NAICS data to:

create a more focused mission statement.

eliminate risk.

classify consumer behavior.

Identify potential new customers.

determine purchase motives.

Question 11

The marketing researcher for Bubastis Cat Treats has noticed a growing number of cat owners purchasing organic treats for their pets. The researcher thinks there is a market for organic cat treats, but she’s not sure if the segment is substantial. In this case, substantiality means the segment:

has enough special stores, magazines, and other outlets that it will be possible to direct advertisements at this group

Is large enough to permit a profitable market effort toward its members

exhibits a response rate to marketing variables different from the rates of other segments

is too large and needs to be reduced to a more easily identifiable and measurable size

will be difficult to develop a product to match this group of buyers

Question 12

A market segmentation study done by the University of Thessaly in Greece classified recreational skiers in terms of their gender, age, and income levels. The study used psychographic segmentation variables.

True

False

Question 13

The reseller market is the same as the retailer market.

True

False

Question 14

Rod saw a television commercial for a Honda S2000 and wants to test-drive one. The commercial is an example of a(n) _____ stimulus.

internal

external

primary

secondary

nonpersonal

Question 15

Noah perceives the purchase of a tattoo to be a socially risky decision because he thinks that people will judge him unfairly if he has a tattoo. Hayley, however, does not perceive getting a tattoo as particularly risky behavior. As far as social risk is concerned, getting a tattoo will be a higher-involvement activity for Noah than for Hayley.

True

False

Question 16

Hensley Poultry is a wholesaler that buys poultry food and health products from Provini, Inc., feeding systems from Big Dutchman, Inc., and incubation systems from Copca Corp. Hensley then sells those products to poultry producers and farmers’ cooperatives in Iowa. Hensley Poultry could be best classified as a(n):

producer.

distribution network.

inventory carrier.

specialty retailer.

reseller.

Question 17

Consumers with prior experience in buying a certain product will spend less time searching for product information and will limit the number of products that they consider.

True

False

Question 18

The steps of the consumer decision-making process in order are:

need recognition, alternative aggregation, reevaluation, purchase decision, postpurchase behavior

need positioning, stimulus response reactions, evaluation of alternatives, purchase decision, postpurchase behavior

need positioning, alternative aggregation and divestment, purchase decision, postpurchase evaluation

information search, need positioning, evaluation of alternatives, product trial, purchase decision, postpurchase satisfaction

need recognition, information search, evaluation of alternatives, purchase, and postpurchase behavior

Question 19

Managers must combine specific pieces of information needed to identify the marketing research problem. Their _____ is to provide insightful decision-making information.

company-correlated goal

autonomous task

dichotomous goal

marketing research objective

field service objective

Question 20

B-to-B marketers have found that they can use tools such as LinkedIn and YouTube to boost brand awareness.

True

False

Question 21

Marketers are rediscovering that the “one-size-fits-all” approach to marketing is still relevant.

True

False

Question 22

The single largest business customer in the world is the U.S. retailer Walmart.

True

False

Question 23

What is the chief advantage of primary data?

Low cost compared to secondary data

Answers specific research questions that secondary data cannot answer

Availability to any interested party for use

Accessibility through computerized databases

Avoiding interviewer biases

Question 24

Which of the following is the BEST example of an internal stimulus that would create need recognition?

A friend comments on how shabby your coat looks

A radio station runs an ad for a new video game rental store

A headache

An invitation to a graduation for which you need a gift

A billboard promoting a new national Internet service provider

Question 25

NASCAR racing fans are some of the most diverse and loyal fans in the world. They will stand in the pouring rain, the freezing cold, or the blistering heat for hours to shake the hand and get the autograph of a NASCAR driver. These fans are not concentrated in any one area but are dispersed throughout the United States. A Web site designed to market NASCAR memorabilia would be most likely to be successful if it used _____ segmentation to determine its target market.

demographic

psychographic

geodemographic

usage rate

family life cycle

Question 26

A marketing decision support system (DSS) is an interactive, flexible, computerized information system that bypasses information-processing specialists and gives managers access to useful information from their own desks.

True

False

Question 27

____ specifies the research questions to be answered, how and when the data will be gathered, and how the data will be analyzed.

A secondary data use plan

The research collaborative plan

An autonomous director

The research design

The sampling plan

Question 28

A cooperative agreement between business firms is called a:

shared capital contract.

global partner development strategy.

strategic alliance.

joint contract.

comarketing effort.

Question 29

The United States, unlike some other countries, does not have a status structure or social class system.

True

False

Question 30

Before toll-free telephone numbers and the Internet were used as commercial tools, passengers usually purchased airline tickets from travel agents. Travel agents no longer receive a commission from the airlines for selling tickets to consumers. This is an example of:

reintermediation.

disassociation.

disintermediation.

discrimination.

transference.

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