Devry Busn319/Busn 319 Week 4 Quiz Latest July 2015 (A+++++ ANSWER) - 93436

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Question 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 Some members claimed the problem was that Canadian retailers had been replaced by Walmarts. 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 Question 2. Question : (TCO 1) A conscious choice made from among two or more alternatives is called a dilemma. quandary. decision. paradox. predicament. Question 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 Question 4. Question : (TCO 1) Obtaining data on the number of households that buy a particular product is an example of which type of marketing research? Descriptive Explanatory Exploratory Causal Concrete Question 5. Question : (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) objective. constraint. assumption. measure of success. barrier to entry. Question 6. Question : (TCOs 3 and 4) A picture or verbal description of a product or service a firm might offer for sale is known as a(n) hypothesis. proposition. new-product concept. alternative. opportunity. Question 7. Question : (TCO 1) Secondary data are the facts and figures that are newly collected for the project at hand. facts and figures obtained by watching people mechanically rather than in person. facts and figures obtained by asking people questions. facts and figures that have already been recorded before the project. conclusions developed from information obtained from a representative sample of a population. Question 8. Question : (TCO 3) Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as consumer differentiation. psychographics. market segmentation. market delineation. aggregation marketing. Question 9. Question : (TCOs 3 and 4) 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. Question 10. Question : (TCO 6) There are five steps involved in segmenting and targeting a market. Which should a marketer do once he or she has selected a target market? Create product groupings. Develop a market-product grid. Estimate the size of the market. Take marketing actions to reach that target market. Form prospective buyers into market segments. Question 11. Question : (TCO 6) Potential buyers within a segment should be difficult to reach to prevent competitors from reaching them first. similar to buyers among different segments. similar in terms of a marketing action. high cost to assign to segments. interested in direct mail services. Question 12. Question : (TCOs 3, 5, and 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 the closest competitor. Question 13. Question : (TCOs 2 and 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 Cost of reaching the segment Question 14. Question : (TCOs 3, 5, and 6) The place an offering occupies in consumers' minds on important attributes relative to competitive products is called product perception. relative positioning. competitive positioning. product positioning. selective perception. Question 15. Question : (TCOs 3, 5, and 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 Judgments of existing products or brands with respect to important 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. Question 16. Question : (TCOs 1, 3, 5, and 6) A _____ is a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range. product class product mix product line marketing category product category Question 17. Question : (TCOs 1, 3, 4, 5, and 6) New chewing gum flavors like lemon-lime, crystal mint, and mint mojito helped Wrigley’s add to its sales. These new flavors are which type of innovation? Continuous innovation Dynamically continuous innovation Discontinuous innovation Insignificant innovation Disruptive innovation Question 18. Question : (TCOs 1, 2, 3, 4, 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? 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. Question : (TCOs 1, 2, 3, 4, 5, and 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. Question 20. Question : (TCOs 3, 4 and 6) The market testing stage of the new-product process often involves test markets or purchase laboratories in which the dependent variable is consumer attitudes. price. advertising. product attributes. sales. Question 21. Question : (TCOs 1, 3, 4, 5, and 6) The marketing objective for a product in the _____ stage of the product life cycle is to create consumer awareness and gain trial. introduction growth maturity decline harvest Question 22. Question : (TCOs 1, 3, 5, and 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 Question 23. Question : (TCOs 1, 3, 5, and 6) The stage in the product life cycle labeled B in the below figure is called introduction. maturity. growth. diversification. decline. Question 24. Question : (TCOs 1, 3, 5, and 6) Which of the following is a characteristic of the growth stage of the product life cycle? Advertising emphasis switches to primary demand. There is a growing proportion of repeat purchasers to initial purchasers. Product features remain unchanged. Profit margins increase as sales increase. All of the above Question 25. Question : (TCOs 1, 3, 5, and 6) The stylized blue and white waves in an oval shape that appear on every package of Ocean Spray brand products is an example of a copyright. trade name. service mark. brand name. generic brand.
Solution Description

Question 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 that Canadian retailers had been replaced by Walmarts. 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

Question 2. Question :

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

dilemma.

quandary.

decision.

paradox.

predicament.

Question 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

Question 4. Question :

(TCO 1) Obtaining data on the number of households that buy a particular product is an example of which type of marketing research?

Descriptive

Explanatory

Exploratory

Causal

Concrete

Question 5. Question :

(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

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