MKTG 303 Principles of Marketing Course Help

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Exam 2

Question 1

2 / 2 pts

A _____ is a master plan created by a marketer for conducting market research.

research hypothesis

research cluster

research design

probability sample

Question 2

2 / 2 pts

Although cost effective, an online focus group _____.

does not generate immediate results

does not allow the moderator to see body language or nonverbal cues

generates a solid representative sample

encourages the testing of sample products

Question 3

2 / 2 pts

A _____ is a strategic relationship that extends to external entities but involves no direct buyer-seller interactions.

buyer partnership

network partnership

lateral partnership

seller partnership

Question 4

2 / 2 pts

Which of the following changes is seen as a result of a rise in households with only one person?

Increase in single-serve food products

Decrease in the average size of new cars

Decrease in the marketing of vacations

Increase in apartment building developments

Question 5

2 / 2 pts

Jake is determining which customers should be included in a study sample. According to this information, Jake is in which stage of the marketing research process?

Formulating a hypothesis

Collecting data

Defining a problem

Creating a research design

Question 6

2 / 2 pts

You overhear your parents having a conversation about the family’s grocery list and which of them is going to do the shopping this coming weekend. Your mother typically does the grocery shopping and has a comprehensive process, which entails researching supermarkets that have the best sales, clipping coupons, and identifying which items she wants from the circulars that are mailed weekly to the house. She prefers to do the shopping herself but has to go out of town, leaving your dad with this responsibility. Your dad generally just buys whatever he thinks you and your siblings will like and prefers to be in and out of the grocery store. What can be said about your parents’ purchase decision styles?

Involvement in purchase decisions may vary from one person to the next.

Men are more likely to rely on personal determinants when making purchase decisions.

More time elapses between the problem/opportunity recognition and the purchase act stages of the purchase decision process for your dad.

Both of them engage in high-involvement decisions.

Your mom’s purchase decision process requires low-involvement because she does most of the grocery shopping for your family.

Question 7

2 / 2 pts

Which of the following is the earliest method used for gathering marketing information?

Delphi technique

Email surveys conducted by research professionals

Telephone surveys conducted to assess household preferences

Written testimonials received from purchasers of a firm’s products

Question 8

2 / 2 pts

Vanessa owns a music company and has been storing a wealth of information ranging from customer contact information to the names of each record the customers have purchased. In order to stay competitive, she had a tech company build a marketing decision support system (MDSS) for her to enable quick decision making. One of the features Vanessa likes best about her company’s MDSS is the system’s ability to manage and produce information in various formats. Moreover, as the user or decision maker changes topics, the system matches information to the problem that has been introduced.

Which of the following characteristics of a marketing decision support system is represented in the example above?

inexpensiveness

flexibility

interactivity

accessibility

investigative properties

Question 9

2 / 2 pts

Which of the following firms is ranked as the world’s largest marketer in terms of annual sales?

ExxonMobil

General Electric

Walmart

Royal Dutch Shell

Question 10

2 / 2 pts

Candace has been using the same shampoo brand for decades. When she finally dyes her hair, however, her hairdresser informs her that she will need to find a new shampoo that can help maintain her new color, prevent breakage, and condition her hair. Before going to the beauty supply store, Candace calls a few friends for recommendations and conducts web-based research on shampoos that address her specific needs. What can one infer about purchase decisions?

Every consumer approaches purchase decisions the same way.

The same purchase decision requires the same level of involvement every time.

Purchase decisions are always based on personal factors and preferences.

Product cost is the only factor that determines whether a consumer will engage in a low- or high-involvement purchase decision.

Buying shampoo can be a high-involvement purchase decision.

Question 11

2 / 2 pts

Which of the following is a type of nonprobability sample?

Cluster sample

Convenience sample

Simple random sample

Stratified sample

Question 12

2 / 2 pts

_____ is a form of exporting in which a firm barters products rather than selling them for cash.

Free trade

Countertrade

Franchising

Subcontracting

Question 13

2 / 2 pts

Starbucks marketing itself as “premium coffee” beverage retailer is an example of a positioning strategy based on _____.

product homogeneity

product users

product class

product life cycle stage

Question 14

2 / 2 pts

According to Maslow, _____ needs concern essential requirements for survival such as food, water, shelter, and clothing.

esteem

belongingness

physiological

self-actualization

Question 15

2 / 2 pts

McBurgers plans to introduce a new line of fish sandwiches to fifteen stores in eastern United States for a six-month period. If the product and promotional efforts behind it are successful, the company may launch them nationwide. What type of research is being conducted to determine potential success?

Stratified sampling

Trend analysis

Test marketing

Exploratory research

Question 16

2 / 2 pts

In the 1800s, more than 90 percent of Americans worked in _____ industry.

automobile

shipping

farming

service

Question 17

2 / 2 pts

Which of the following scenarios best illustrates reinforcement in purchasing decisions?

A chef purchases mushrooms for a second time from a wholesaler, even though the first order was disappointing.

A needle on the gas gauge signals a driver to pull into a gas station.

An appliance distributor replaces a dishwasher free of charge and provides excellent after-sales service.

The smell of hot dogs at a ballpark induces an obese man to order “a dog with everything on it.”

Question 18

2 / 2 pts

Technology presents challenges for global marketers that extend beyond the Internet and other telecommunications innovations. A major technological issue involving food marketers is _____.

reverse engineering

genetic reengineering

value engineering

business process reengineering

Question 19

2 / 2 pts

Penelope is using data collected and published by a trade association in her marketing research study. The data used by Penelope can be regarded as _____.

experimental data

primary data

raw data

secondary data

Question 20

2 / 2 pts

Kyle plans to buy new tires for a car that his family uses for camping trips. These tires are of the same type like those that are used on General Motors commercial trucks and can be purchased from Industrial Tire Company. The tires that Kyle will buy for his car can be classified as _____ products.

consumer

MRO

service

business

Question 21

2 / 2 pts

You have just been promoted to vice president of marketing for your firm. Unlike your predecessor, you believe the firm can increase its sales in a market by focusing on more than one segment of the market. You recognize that doing this means your firm will incur higher production costs. Based on this information, which of the following targeting strategies are you advocating?

a heterogeneous targeting strategy

a concentrated targeting strategy

a broad-based targeting strategy

a differentiated targeting strategy

an undifferentiated targeting strategy

Question 22

2 / 2 pts

Placing a product at a certain point or location within a market in the minds of prospective buyers is known as _____.

value engineering

optimizing

social referencing

positioning

Question 23

2 / 2 pts

The _____ is a major player in the international legal environment, which lends foreign exchange to nations that require it to conduct international trade.

Collective Security Treaty Organization (CSTO)

International Monetary Fund (IMF)

World Trade Organization (WTO)

Question 24

2 / 2 pts

A nation’s size, per-capita income, and stage of economic development determine its prospects as a host for _____.

free trade association

international business expansion

public private partnership

regional economic integration

Question 25

2 / 2 pts

Which of the following actions generally helps marketers encounter new products, new approaches to distribution, or clever new promotional ideas?

Globalization

Product standardization

Developing core values

Market penetration

Question 26

2 / 2 pts

Best Buy Rewards Program tracks customer sales, and periodically issues coupons to customers based on the values of prior purchases. This marketing effort by Best Buy can be regarded as _____ marketing.

societal

affinity

frequency

database

Question 27

2 / 2 pts

_____ is a quantitative forecasting technique that assigns weights to historical sales data, giving the greatest weight to the most recent data.

Delphi technique

Exponential smoothing

Jury of executive opinion

Test market

Question 28

2 / 2 pts

Relationship marketing focuses on developing long-term, high-value relationships with many different stakeholders including _______________.

regulators

creditors

environmentalists

distributors

consumer advocacy groups

Question 29

2 / 2 pts

Which of the following industries makes the largest contribution to the United State’s gross domestic product?

Service industry

Oil industry

Automobile industry

Manufacturing industry

Question 30

2 / 2 pts

At which stage of the consumer decision-making process is cognitive dissonance most likely to occur?

Postpurchase evaluation

Purchase decision and purchase act

Evaluation

Question 31

2 / 2 pts

One of the advantages of national account selling is:

a decrease in the value of risk adjusted return on capital.

an increased inventory turnover for the firm.

lowered switching costs for a firm’s loyal customers.

a strengthened buyer-seller relationship through collaboration.

Question 32

2 / 2 pts

While researching on the idea of opening his own health club, Tom learned that there are 11 million health club members in the United States, and 90 percent of them are between the ages of 18 and 49. They prefer to exercise with people of their own gender, and the majority of them are urban dwellers. During the process of market segmentation, this information is most likely to be used by Tom for:

developing a market segment profile.

observational analysis.

forecasting total market potential.

marketing research.

Question 33

2 / 2 pts

Marketing to Asian American consumers is challenging as:

they have considerably less disposable income compared to other minority groups.

they belong to multiple ethnic groups with their own language, religion, and value systems.

they are widely spread in different regions of the United States.

they have a high acculturation rate.

Question 34

2 / 2 pts

_____ defines consumer groups according to variables such as gender, age, income, occupation, education, sexual orientation, household size, and stage in the family lifecycle.

Product-based segmentation

Demographic segmentation

End-use segmentation

Geographic segmentation

Question 35

2 / 2 pts

Which of the following product purchases would most likely require a high-involvement decision?

Shampoo

Car

Hair dryer

Magazine subscription

Question 36

2 / 2 pts

Jack is a research specialist who has spent six months conducting a detailed study of customer attitudes and expectations. In writing the final report, Jack should remember to:

elaborate on the technical details of the research methods in the introduction.

present the results to all key executives in separate meetings.

direct his report toward the management and not other researchers.

include only the primary data collected as it is more specific for the current research.

Question 37

2 / 2 pts

The group born between 1968 and 1979, now generally in their early 30s to early 40s, often are referred to as _____.

Baby Boomers

Generation X

seniors

teenagers

Question 38

2 / 2 pts

While forming partnerships in business-to-business markets, organizations primarily look for companies that:

have shorter distribution channels than their competitors.

are focused on product-orientation.

can add value to the relationship.

differ from them in the core values and goals.

Question 39

2 / 2 pts

You are watching an episode of a new game show that tests contestants’ knowledge by giving them phrases they must respond to with a question.

The following marketing-related phrase comes up in the bonus round of the game:

“It’s an informed guess or assumption about a problem or a specific event. It sets the stage for in-depth research and clarifies what the researcher needs to test.”

The contestant’s response should be

What is a plausible conclusion?

What is an objective statement?

What is a hypothesis?

What is a qualitative data point?

What is a conclusive research finding?

Question 40

2 / 2 pts

A positioning map:

outlines how to introduce a new product to the marketplace.

can be used only for already successful products in the market.

is used primarily by companies utilizing undifferentiated marketing strategies.

shows how consumers view a product relative to competitive products.

Question 41

2 / 2 pts

Michael is a marketer who conducts research for small startups. He has been consulting for an agency that is having trouble managing data about various marketing mix variables, sales, and consumer distribution across the United States. The head of the company wants to be able to access information quickly and easily.

Which of the following should Michael suggest that the startup use to organize its information?

data mining

business intelligence

marketing decision support system

competitive intelligence

marketing information system

Question 42

2 / 2 pts

Bristol-Myers Squibb, a large pharmaceutical company, has developed a campaign featuring Lance Armstrong promoting their development of cancer drugs. The campaign has a slogan, “Together We Can Prevail.” This marketing strategy is being used by the company to satisfy ____ needs in the Maslow’s hierarchy of needs.

safety

physiological

self-actualization

esteem

Question 43

2 / 2 pts

Majority of the Hispanic population in the United States originate from _____.

Mexico

Cuba

Peru

Brazil

Question 44

2 / 2 pts

At specific mileage intervals, Capitol sends coupons to owners of their automobiles offering discounts on repair services through the dealerships. Each repair visit is overseen by a trained service representative, and the completed repairs are followed up to ensure customer satisfaction. The attention given by the dealership is called _____.

shadowing

shaping

screening

scaling

Question 45

2 / 2 pts

Which of the following industries has seen a steady growth in the United States in the recent years with nearly 80 percent of Americans now working in it?

Service

Manufacturing

You Answered

Agriculture

Automobile

Question 46

2 / 2 pts

You are the campaign manager for a candidate running for mayor of Hartford, Connecticut. You are running a series of focus group sessions with Hartford residents to get a better idea of their needs and wants.

Your focus group sessions are an example of which of the following types of research?

experimental research

descriptive research

exploratory research

marketing research

conclusive research

Question 47

2 / 2 pts

Kate believes the reason the sales of one of her company’s products has fallen is due to a price increase. She cites sales from the previous year to the same customers as evidence of declining sales. Kate is:

developing a research design.

identifying a symptom.

formulating a hypothesis.

conducting exploratory research.

Question 48

2 / 2 pts

_____ is a cooperative arrangement in which two or more businesses team up to closely link their names on a single product.

Cobranding

Comarketing

Lateral partnership

Symbiotic marketing

Question 49

2 / 2 pts

Consumers are more likely to experience cognitive dissonance when:

the purchase has been made at discount prices.

the purchased product has routine uses.

the product company offers excellent after-sales service.

the purchase decision has potential economic consequences.

Question 50

2 / 2 pts

A business school instructor talks about a “generally favorable attitude toward foreign investment.” Which factor is most likely to be an obstacle to the American attitude toward foreign investment’s being totally favorable?

competition from foreign products for U.S. consumers

less criticism by regular and social media outlets

large advertising budgets that attract undue attention

need for bilingual employees to explain the products

longer-lasting products with more attractive features

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