SAINT LEO MKT301 MODULE 3 QUIZ 2

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.