MKT 571/MKT571 QUIZ 2 (NEW CLASSROOM) A++++ GUARANTEE - 88675

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  • From: Business, Marketing
  • Posted on: Fri 27 Feb, 2015
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1. What is the second stage of the consumer buying process? Purchase decision Buyer satisfaction Information search Evaluation of alternatives 2. Which of the following is used to determine a competitive frame of reference for brands to compete against other brands due to their closeness as substitutes? Market membership Product membership Category membership Industry membership 3. In behavioral segmentation, a product or service is grouped by which other dimension besides knowledge of, attitude toward, and use of? Dimension to Relationship to Value to Response to 4. Which of the following marketing strategies does not concentrate on recognizing differences in customers’ needs in the organization? Direct Concentrated Niche Undifferentiated 5. Which term describes the diverse needs of many ethnic market segments? Multidiversity marketing Multicultural marketing Multifaceted marketing Mass marketing 6. Which of the following would consumers associate closely with a brand? Customer focuses Brand attitudes Points of reference Points-of-difference 7. Which group is experiencing the fastest population growth today? African Americans Asian Americans Caucasian Americans Hispanic Americans 8. Which market is known as the invisible market segment? Caucasian American African American Hispanic American Asian American 9. Which of the following do marketers use to give consumers a special reason for them to purchase a product or service? Value proposition Consumer response Value-added product Product demand 10. Which of the following tools do marketers use to visually illustrate how consumers view products or services on multivariables? Brand extensions Point-of-difference Brand cannibalizations Perceptual mapping 11. Which of the following is a tool a company uses to position its brands attributes in the minds of those in the organization? Brand positioning bull’s eye Competitive analysis Brand perceptual analysis Industry analysis 12. Which of the following is known as the process of creating a segment storyboard to test the attractiveness of each segment? Segment acid test Marketing-mix strategy Needs-based segmentation Segment attractiveness 13. How many primary groups does VALS classify U.S. adults into based on personality traits and key demographics? Nine Two Seven Eight 14. When purchasing, in which state does the consumer set a minimum acceptable cutoff level for each attribute and then makes a buying decision? Lexicographic heuristic Elimination-by-aspects heuristic Indirect heuristic Conjunctive heuristic 15. Which other factor does an organization’s marketing strategy focus on: segmentation, targeting, and perceptual mapping positive marketing positioning possession 16. When searching for a supplier, which of the following provides the broadest reach of possible suppliers in today’s competitive market environment? Standard & Poor’s Business associates Trade directories Internet 17. What other dimension helps market segments be measurable, substantial, accessible, and differentiable? Reasonable Obtainable Functional Actionable 18. Which other dimension is the VALS classification system based on besides consumer motivation? Consumer support Consumer beliefs Consumer retention Consumer resources 19. Which other criteria helps make up the three criteria for a successful brand mantra: inspire, simplify, and create infuse inflate communicate 20. Which of the following do brand mantras attempt to define? Similarity to other brands Points of difference to other brands Brand equity Brand identity 21. Which of the following is known in marketing as attributes of a product or service that may not be unique to the product or service? Points-of-difference Brand reference Points-of-reference Points-of-parity
Solution Description

1. What is the second stage of the consumer buying process?

Purchase decision

Buyer satisfaction
Information search
Evaluation of alternatives

2. Which of the following is used to determine a competitive frame of reference for brands to compete against other brands due to their closeness as substitutes?

Market membership

Product membership

Category membership
Industry membership

3. In behavioral segmentation, a product or service is grouped by which other dimension besides knowledge of, attitude toward, and use of?

Dimension to

Relationship to

Value to

Response to

4. Which of the following marketing strategies does not concentrate on recognizing differences in customers’ needs in the organization?

Direct

Concentrated

Niche

Undiffer

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