SAINT LEO MKT301 ALL QUIZZES

Question 1. Question :

Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?

Question 2. Question :

Which of the following customer questions is answered by a company's value proposition?

Question 3. Question :

An organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health-conscious individuals, and people identified as trendsetters who try out new products in the market before others. These three groups are examples of __________.

Question 4. Question :

Modern strategic planning __________.

Question 5. Question :

The collection of businesses and products that make up a company is called its __________.

Question 6. Question :

Which of the following terms refer to customers who make repeat purchases and tell others about their positive experiences with a product or service?

Question 7. Question :

A room upgrade offered by a hotel to a guest who often stays in the hotel is an example of __________.

Question 8. Question :

__________ is determined by a customer's evaluation of the benefits and costs of a market offering relative to those of competing offers.

Question 9. Question :

Hank is an assistant marketing director for a firm in a market with many low-margin customers. What type of relationship with these customers would be the most profitable for him?

Question 10. Question :

Which of the following marketing orientations holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do?

Question 11. Question :

It is most accurate to say that when customers purchase products they act on __________ as they judge values and costs.

Question 12. Question :

A women's apparel manufacturer in California recently acquired a Houston-based company that manufactures office furniture. This is an example of __________.

Question 13. Question :

Amor, a successful brand of women's clothing, recently introduced a line of fitness equipment. This is an example of __________.

Question 14. Question :

The Farmer’s Pantry, an all-natural grocery store and bakery, has launched a bottom-up customer service model empowering frontline employees to solve most customer complaints, even those that are somewhat complex. What part of the marketing mix does this describe?

Question 15. Question :

Golden Oldies, an online music store specializing in classic rock ‘n roll, developed an algorithm that predicts what albums, posters, and books will appeal to a buyer based on the answers to a few questions about the 1960s. What part of the marketing mix is Golden Oldies employing?

Question 16. Question :

The Really Tasteless Frozen Food Company has decided that, based on the financial projections, they are not going to be required to make any adjustments in their contribution margins. Identify the part of the marketing mix most closely identified with this activity.

Question 17. Question :

Sony Electronics has determined that because home theater products have gotten so complex, they are going to include an automated setup process built into each TV. What part of the marketing mix does this describe?

Question 18. Question :

The Marketing Director for Terrible Tours just bought a series of commercials on the Today Show and a run of print ads in the AARP magazine. Which part of the marketing mix best describes this activity?

Question 19. Question :

Coronary Foods has contracted with UPS to manage all their shipping, warehousing, and store deliveries, including stocking the shelves at big box stores. What part of the marketing mix is UPS providing?

Question 20. Question :

It’s About Time, an online vintage clothing store, encourages its customers to create an avatar that can be dressed in clothing typical of the products sold on the site. What part of the marketing mix does the avatar best represent?

Question 1. Question :

A marketer wanting to determine business buyer behavior is most likely to ask which of the following questions?

Are buyers sensitive toward price changes in consumer markets?

What are the major influences on buyers?

Are niche markets more profitable than mass markets?

How do interpersonal factors affect organizational performance?

Is the role of gatekeepers relevant in the international business environment?

Question 2. Question :

Mary Adams is helping her company develop a marketing program for a new product line. The program is designed to appeal most to less materialistic consumer groups who are likely to prize experience, not acquisition. The marketing program is most likely designed to appeal to which of the following demographic groups?

Generation X

Millennials

Echo Boomers

Silent Generation

Lost Generation (Page Ref: 72

Question 3. Question :

The marketing team of 7 Star Inc., a company manufacturing smartphones, is currently studying the size, density, location, age, and occupation of its target market. Which of the following environments is being studied in this scenario?

Demographic environment

Political environment

Economic environment

Technological environment

Cultural environment (Page Ref: 70)

Question 4. Question :

Dan has been directed to study the actors close to a company that affect its ability to serve its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance, Dan has been directed to study the __________ of the company.

macroenvironment

microenvironment

technological environment

demographic environment

political environment (Page Ref: 66)

Question 5. Question :

Which of the following is the objective of causal research?

To test hypotheses about cause-and-effect relationships

To gather preliminary information that will help suggest hypotheses

To describe things, such as the market potential for a product

To assign a cause to a seemingly random event

To predict the effect of a random event on unrelated entities (Page Ref: 103)

Question 6. Question :

Which of the following statements is true regarding competitive marketing intelligence?

The advantage of using competitive marketing intelligence is negligible.

The goal of competitive marketing intelligence is to improve recruiting efforts.

Competitive marketing intelligence relies upon costly internal databases.

Competitive marketing intelligence relies upon publicly available information.

Companies using competitive marketing intelligence routinely ignore consumers' online chatter. (Page Ref: 101)

Question 7. Question :

Which of the following is a common reason for new product failure?

Incorrect estimation of the market size

Low product development costs

Ineffective social marketing campaigns

Low selling prices of products

Patent ownership exclusively held by the company (Page Ref: 260)

Question 8. Question :

Proposals related to __________ include promoting the use of sustainable ingredients, recycling and reducing solid wastes, and managing energy consumption.

the right to be informed

consumer protection

preserving the world for future consumption

quality of life

the right to charge any price for the product (Page Ref: 593)

Question 9. Question :

Malcolm Sanders, a graduate student from Boston, makes customized snowboards for local snowboarding enthusiasts. The demand for snowboards peaks during the winter months, a busy time for Malcolm. He advertises more aggressively and sells most of his snowboards around this time. Which market segmentation approach does Malcolm most likely use?

Gender segmentation

Psychographic segmentation

Occasion segmentation

Geographic segmentation

Age and life-cycle segmentation (Page Ref: 196

Question 10. Question :

Consumer products refer to __________.

products purchased by consumers for further processing or for use in conducting a business

products and services bought by final consumers for personal consumption

primarily intangible offerings from marketers

raw materials as well as manufactured materials and parts

products that aid in the consumer's production or operations, including installations and accessory equipment (Page Ref: 226)

Question 11. Question :

FlashFlix, a streaming movie service, created a blog to help parents on budget plan “movie at home” parties for their kids and their friends, offering prizes to the best blog story about how the family was coping with a tight budget. To which environmental force is FlashFlix reacting?

Technological

Social

Political

Economic

Competition

Question 12. Question :

Taking advantage of the trend in multi-generational housing, Madison Builders is aggressively marketing its “home within a home” concept, which features a grandparents’ mini-home incorporated into a large single-family house. Which environmental force is Madison Builders counting on for its future home sales?

Technological

Social

Political

Economic

Competition

Question 13. Question :

The Farmer’s Pantry, an all-natural upscale grocery store, tends to cater to a well-educated, upper-middle-class clientele. The stores use streaming video from the farms and fishing boats that supply their products directly to their customers’ phones via hash tags. What environmental force is Farmer’s Pantry leveraging?

Technological

Social

Political

Economic

Competition

POOL 9

Question 14. Question :

Casey has finally finished his Saturday chores and is preparing for a little “me time” away from the house and family. He and his wife have agreed on a budget of $50 for his weekly Saturday outings with his buddies. They are debating whether to play golf, watch the game at the local sports bar, or visit the car show as they only have funds for one of these. What environmental force are Casey and his friends experiencing?

Technological

Social

Political

Economic

Competition

Question 15. Question :

Responding to very strict “green” legislation, the chemical firm Atticus Environmental is touting the safety of its consumer-based vegetable garden insecticide, claiming it bio-degrades in 90 days, which is twice as fast as required by the new law. Which environmental factor is the firm hoping to leverage for additional sales?

Technological

Social

Political

Economic

Competition

Question 16. Question :

The quantitative (numerical) segmentation factors that help a marketing manager decide where, and to whom, to sell the firm’s products such as age, race, gender, and income are known as:

lifestyle choices.

communications planning.

demographics.

market planning.

numeric profile.

Question 17. Question :

Research and experience shows that most supermarkets are able to draw customers from approximately a five mile radius; however, Trader’s Joe’s draws from a much larger area due to their image and special products. If Trader Joe’s uses this phenomenon in developing a persona for a group of customers, this would be an example of what type of segmentation?

Psychographic

Demographic

Branded

Price

Geographic

Question 18. Question :

The firm that makes Betty Sue’s Down Home Pork Rinds found that their best customers enjoy NASCAR, pro wrestling, family gatherings, and are politically conservative. These are considered to be the __________ of the market segment

demographics

psychographics or lifestyle

social planning elements

customer attributes

media choices

Question 19. Question :

Patty’s Party Palace plans all year for their Halloween spectacular specializing in adult versions of animated characters such as Snow White and the Little Mermaid. Which subset of behavioristic segmentation would Patty most likely use?

Heavy/light user

Price

Psychographic

Occasion

Holiday

Question 20. Question :

Select the definition that best describes the concept of a persona.

A set of psychological traits used in identifying advertising.

A fictional name and set of characteristics describing a market segment.

The demographic traits of a group of consumers.

A set of characteristics used in setting price.

A segmentation strategy based on the beliefs of consumer.

1. Question :

Ford and its network of independent franchised dealers is an example of a __________.

manufacturer-sponsored retailer franchise system

manufacturer-sponsored wholesaler franchise system

service-firm-sponsored retailer franchise system

service-firm-sponsored equity strategic alliance

manufacturer-and-service-sponsored joint venture (Page Ref: 346)

Question 2. Question :

Which of the following involves the producer agreeing not to sell to other dealers in a given area, or the buyer agreeing to sell only in its own region?

Closed loop marketing

Uniform-delivery pricing

Exclusive territorial agreement

Cross merchandising

Nationalized marketing (Page Ref: 356)

Question 3. Question :

Whitelight stocks its toothpastes in all convenience stores across the country. This is an example of __________ distribution.

exclusive

selective

hybrid

intensive

normal (Page Ref: 352-353)

Question 4. Question :

Relative advantage, compatibility, complexity, divisibility, and communicability are all characteristics of __________.

alternative evaluations

the degree of buyer involvement

a product's rate of adoption

unexpected situational factors

postpurchase behaviors (Page Ref: 157-158)

Question 5. Question :

Mark has long supported a particular brand of footwear and has always bought that brand of footwear. Recently, the footwear manufacturer was embroiled in a controversy for using child labor at its manufacturing plants. Mark doubts the news reports and continues to purchase the same brand of footwear. It is most accurate to say that Mark displays __________.

selective distortion

cognitive dissonance

selective retention

selective attention

consumer ethnocentrism (Page Ref: 149)

Question 6. Question :

Which of the following is the final stage in the new product adoption process?

Awareness

Adoption

Evaluation

Interest

Trial

Question 7. Question :

Which type of retailer is most likely to require its employees to focus most on assisting customers as they shop?

Self-service retailer

Full-service retailer

Off-price retailer

Limited-service retailer

Convenience retailer (Page Ref: 376)

Question 8. Question :

Which of the following is true of the bottom of the pyramid?

It is a market segment that has been tapped into and depleted.

It consists of people who have easy access to luxury goods.

It comprises people who have easy access to the basic amenities of life.

It is considered a source of market growth opportunities for consumer products.

Its members rarely move up into the middle class (Page Ref: 325)

Question 9. Question :

Multiprint, a printer manufacturing firm, sells ink cartridges for each of its specific models. Only Multiprint cartridges are compatible with Multiprint printers, and no two of the firm's models share the same specifications. What type of pricing does Multiprint use?

Product line pricing

Optional product pricing

Captive product pricing

By-product pricing

Product bundle pricing (Page Ref: 316)

Question 10. Question :

Smaller companies may assign specific executives to watch particular competitors. A manager who used to work for a competitor might follow that competitor closely to see what it does in the marketplace. Such a manager would be considered the company's __________ on that competitor.

market leader

market challenger

surrogate consumer

in-house expert

laggard

Question 11. Question :

Which of the following companies uses product line pricing?

Photo Genie, which sells inexpensive cameras that run only on their own expensive batteries

Mobile Point, which launched a range of cell phone models, each priced according to its features

Penguin's Parlor, which offers customers a 20% discount on their birthdays and certain holidays

Green Thumb, which gives away free watering cans with the purchase of certain potted plants

Panizza, whose combo meals are priced lower than the individual components sold together

Question 12. Question :

Most companies are started by individuals who live by their wits. They visualize an opportunity, take risks, and knock on every door to gain attention. Which of the following stages in marketing strategy is being illustrated here?

Exponential marketing

Formulated marketing

Entrepreneurial marketing

Affinity marketing

Ambush marketing (Page Ref: 535

Question 13. Question :

Mansfield Pharmaceuticals markets Zipro, an antibiotic. The firm has fixed costs of $1,000,000 and variable costs of $2 per bottle of 50 tablets priced at $10 per bottle. What is the break-even volume?

25,000

55,000

100,000

115,000

125,000

Question 14. Question :

As small companies achieve success, they inevitably move toward more __________ marketing. They adopt more-developed marketing tools and adhere to them closely.

ambush

formulated

entrepreneurial

intrepreneurial

multi-level

Question 15. Question :

What concept does the following formula “percent of change in quantity divided by the percent of change in price” represent?

Breakeven

Contribution margin

Price mark-up

Elasticity

Marginal analysis

Question 16. Question :

Reindeer Games, a new Christmas-themed video, pizza, and ice cream restaurant targeting families with young children, is located in an area that is also home to Chucky Cheese and a bounce activity center. As both of the latter are well established, the owner of Reindeer Games decided to launch her business with pricing on games and pizza parties about 20% lower than her competitors. What pricing strategy is Reindeer Games using for their launch?

Value-added

Everyday low prices

Penetration

Skimming

Segmented

Cost-plus

Question 17. Question :

Cats and Rats is a tablet game that allows players to be one or the other and try to outsmart their opponents. In order to win, the players need an occasional energy boost in the form of a nap, which is free, or the player can pay for Cat Treats or Cheese Nibbles for their cat or rat. What form of pricing is this?

Penetration

Value-added

Freemium

Skimming

Segmented

Question 18. Question :

Sam was visiting her grandparents during Spring Break and was appalled when they insisted on going to dinner at 5:30 to get the Early Bird Specials. What type of pricing strategy is making Sam insane?

Value-added

Everyday low prices

Skimming

Segmented

Cost-plus

Question 19. Question :

Canine Couture is launching a new line of hand-stitched doggy duds made from silk, cashmere, and linen. Couture has intentionally limited production and set prices for the new line at about four times the average price for other pet clothes in hopes of creating a prestige line. What pricing strategy is Canine Couture using?

Cost-plus

Value-added

Product line

Skimming

Segmented

Question 20. Question :

John and Robin run a small, but trendy, craft beer and pizza restaurant in a part of town that has a number of nighttime and dining options. The couple are discussing raising their prices on their “pint and slice” after-work special; however, they are concerned that their customers may decide that the new price is too high and sales will drop. What pricing concept is worrying John and Robin?

Consumer constructivism

Everyday low prices

Elasticity

Skimming

Cost-plus

Psychological pricing