Marketing 3023 - Marketing Fundamentals » Winter 2021 » Quiz 3
Need help with your exam preparation?
Get Answers to this exam for $6 USD.
Get Answers to all exams in [ Marketing 3023 - Marketing Fundamentals ] course for $25 USD.
Existing Quiz Clients Login here
Question #1
The main difference between a "product-market" and a "generic market" is whether customer needs are similar or different.
A.
TRUE
B.
FALSE
Question #2
When a customer orders a book at Amazon.com, the online retailer recommends related books that have been purchased by other customers who bought that book. Amazon is using a(n)
A.
disaggregating approach.
B.
aggregating approach.
C.
clustering approach.
D.
generic market.
E.
CRM database.
Question #3
In a generic market,
A.
sellers may compete in different product-markets.
B.
diverse types of products may compete for customers.
C.
customers have broadly similar needs, sellers may compete in different product-markets, there may be many ways to satisfy customers' needs, and diverse types of products may compete for customers.
D.
customers have broadly similar needs.
E.
there may be many ways to satisfy customers' needs.
Question #4
Qualifying dimensions are those that actually affect the customer's purchase of a specific brand in a product-market.
A.
FALSE
B.
TRUE
Question #5
Which of the following is a behavioral segmenting dimension?
A.
ethnicity
B.
region of the world or country
C.
education
D.
income
E.
needs
Question #6
A marketing manager has just learned about generic markets. This may lead the manager
A.
to see a larger set of potential competitors.
B.
to think about new ways of satisfying the needs of his or her current customers.
C.
to put less emphasis on market penetration or market development opportunities and more emphasis on product development opportunities, to see a larger set of potential competitors, and to think about new ways of satisfying the needs of his or her current customers.
D.
to put less emphasis on market penetration or market development opportunities and more emphasis on product development opportunities.
Question #7
Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided not to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the
A.
single target market approach.
B.
None of the answers is correct.
C.
multiple target market approach.
D.
combined target market approach.
E.
mass marketing approach.
Question #8
When segmenting markets, cost considerations typically encourage a company to ________ and ________.
A.
disaggregate; use one segment
B.
disaggregate; combine segments
C.
aggregate; use different segments
D.
aggregate; combine segments
E.
disaggregate; use different segments
Question #9
A pencil, a dictating machine, and a computer might compete in the same
A.
Any of the answers could be correct.
B.
product-market.
C.
generic market.
D.
target market.
Question #10
How customers think about the various brands in a market can be graphically represented and tracked through
A.
researching.
B.
positioning.
C.
clustering.
D.
segmenting.
E.
targeting.
Question #11
A marketing researcher using the scientific method develops and tests hypotheses about the relationships between things or about what will happen in the future.
A.
TRUE
B.
FALSE
Question #12
A statistical package is likely to be used with quantitative research, but not with qualitative research.
A.
TRUE
B.
FALSE
Question #13
During a situation analysis, a marketing researcher should
A.
begin to talk informally to as many customers as possible.
B.
collect primary data,study what information is already available, begin to talk informally to as many customers as possible and talk with competitors facing similar problems.
C.
talk with competitors facing similar problems.
D.
collect primary data.
E.
study what information is already available.
Question #14
Two similar groups of consumers are shown different magazines that include the same ad; and then each consumer is asked questions about the advertised product. This seems to be a description of
A.
a consumer panel research project.
B.
a set of focus group interviews.
C.
None of the answers are correct.
D.
the experimental method.
E.
a set of personal interviews.
Question #15
The General Data Protection Regulation (GDPR)
A.
only applies to companies that do business within the European Union nations.
B.
is a uniform set of consumer privacy laws that govern privacy in all countries.
C.
is comprised of the laws in the United States that protect personal data and require informational privacy.
D.
is a set of laws on data protection and privacy for all individuals within the European Union.
E.
only applies to companies that house their servers in the United States.
Question #16
Syndicated research is an economical approach for collecting specific research needed by one firm for a specific problem.
A.
FALSE
B.
TRUE
Question #17
The scientific method
A.
is a hit-or-miss approach.
B.
None of the answers are correct.
C.
rejects the idea that marketing managers can make "educated guesses" about marketing relationships.
D.
assumes that statistical analysis provides the only basis for rejecting a hypothesis.
E.
is an orderly way of presenting your point of view.
Question #18
The most difficult and important step in the scientific approach to marketing research is
A.
analyzing the situation.
B.
defining the problem.
C.
interpreting the data.
D.
solving the problem.
E.
getting problem-specific data.
Question #19
The response rate is the percentage of people contacted who complete a given questionnaire.
A.
FALSE
B.
TRUE
Question #20
A ________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions.
A.
marketing logistics system
B.
marketing information system
C.
marketing research project
D.
marketing model
E.
marketing research department
Need help with your exam preparation?
Get Answers to this exam for $6 USD.
Get Answers to all exams in [ Marketing 3023 - Marketing Fundamentals ] course for $25 USD.
Existing Quiz Clients Login here