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Marketing Final Study Guide

Marketing Final Study Guide

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Published by: deenicole008 on Mar 16, 2010
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4511 study guide final 2010 ch. 7,8,14
 
True/False
 
 Indicate whether the statement is true or false.
  __T__ 1. Global Travel Agency is a small business that creates personalized vacations for its customers and is now inthe process of identifying groups of travelers who have relatively similar vacation dreams. The business isengaged in the process of market segmentation.
 
 __T__ 2. A market segment is deemed to have substantiality if it contains large numbers of potential customers.
 
 __T__ 3. Geography, psychographics, and benefits sought are examples of possible segmentation variables used bymarketers.
 
 __F__ 4. U.S. paint manufacturers traditionally use different formulae for developing paint to be used in the humidSoutheast, the frigid Midwest, and the hot and dry Southwest. This is an example of how demographicsegmentation is used.
G
eographic
 
 __T__ 5. A market segmentation study done by the University of Thessaly in Greece classified recreational skiers interms of their gender, age, and educational levels. The study used demographic segmentation variables.
 
 __T__ 6. Clearing Skies Press published a book by Robert Ruark entitled
 K 
eeping the Baby Alive Till Your Wife Gets Home
. It is an advice book for new fathers. The market for this book is based on demographics.
 
 __T__ 7. Five statistically distinct health
 
segments in the general population have been identified. One of thesesegments is referred to as ³Avid Partners.´ Avid Partners are information-driven. They are characterized bytheir high interest in acquiring health-care knowledge, their perception of themselves as "partners" indecisions that are made about their medical care, their lack of loyalty to specific physicians, and their resulting willingness to change physicians. The primary segmentation variables used to identify these healthsegments was psychographic
 
 __T__ 8. Reality-based television shows are targeted to people who like to believe they could become a part of such ashow and find their way to fame and fortune. This is an example of psychographic segmentation.
 
 __T__ 9. Sav-On Stores, which operates a number of Piggly Wiggly grocery stores, learned that 25 percent of itsshopping base is responsible for a substantial majority of its revenue. This is the general idea posited by the80/20 principle.
 
 __F__ 10. Clorox targets individuals who buy lots of cleaning products (heavy users). Some of these users are mainlyinterested in cleaning bathrooms, while others are more concerned with kitchen cleanliness. Clorox doesn'tapproach these two groups differently but addresses both types of people as heavy users. This is an exampleof how companies use benefit segmentation.
U
sage-Rate
 
 __F__ 11. The business market consists of four broad segments. They are producers, resellers, governments, andregions.
Institutions
 __T__ 12. Festive Holiday Truffles is a small confectionary company in Washington. Its owner has been heard to sayshe engages in mass marketing. Marketers would call her strategy an undifferentiated targeting strategy.
 
 __F__ 13. One reason marketers use market segmentation as a tool is that once completed, the process need not berepeated.
 
 __T__ 14. Pitkin Enterprises produces animal figurines for children and young adults. For children, it makes hard-to- break figurines that are promoted and distributed in the same manner as the delicate, porcelain ones made for young adults. Pitkin engages in multisegment targeting.
 
 
 __T__ 15. One of the forces influencing the growth of one-to-one marketing is more demanding and time-poor consumers.
 
 __F__ 16. Ol' Roy (the Wal-Mart store brand) dry dog food is sold at minimal cost with no promotion. Kal-Kan Foodsmarkets Pedigree dry dog food and spends time and money to develop ads to show the relationships betweendogs and their owners. Since the two companies' products provide the same level of nutrients to dogs, these products are undifferentiated.
 
 __T__ 17. A marketing decision support system is an interactive, flexible computerized information system that bypasses information-processing specialists and gives managers access to useful information from their owndesks.
 
 __F__ 18. The three roles of marketing research are persuasive, reminder, and informative.
D
escriptive,
D
iagnostic,and Predictive
 __T__ 19. A decision support system (DSS) involves the planning, collection, and analysis of data relevant to marketingdecision making and the communication of the results of this analysis to management.
 
 __T__ 20. Marketing research provides decision makers with data on the effectiveness of the current marketing mix andalso with insights for necessary changes.
 
 __T__ 21. To save money on marketing research, a marketing manager suggests the company use the results of a surveyconducted last year because similar questions were asked then. The manager is suggesting use of secondarydata.
 
 __F__ 22. The quality of secondary data should never be questioned.
 
 __T__ 23. Stuart Marketing Research is gathering information on the way people wrap gifts specifically for a largemanufacturer of gift wrap paper that is considering introducing reusable wrapping paper with Velcrofasteners. The information gathered would be an example of primary data.
 
 __F__ 24. The most popular technique for gathering primary data is statistical analysis.
Survey
 
 ____ 25. When Mars Candy used computerized mall intercept interview techniques to determine how and when people buy chocolate, it would have most likely used either computer-assisted personal interviewing or computer-assisted self-interviewing.
 
 __F__ 26. An example of a good open-ended question would be, "Do you prefer dark chocolate or milk chocolate?"
 
 __F__ 27. Xerox was engaged in experiment research when it sent researchers to visit workplaces and watch peoplewhile they worked.
Observation
 
 __T__ 28. Ethnographic research is a form of experiment research because it is conducted without any preconceptions.
 
 __F__ 29. Researcher Martina Nugh was interested in how students perceive the health service provided by her university. To collect data on this issue, she interviewed the students in her evening class. Nugh has used arandom sampling procedure.
Convenience
 
 __T__ 30. Among the advantages claimed for online focus groups are speed, cost-effectiveness, broad geographic scope,accessibility, and honesty.
 
 __T__ 31. Scanner-based research is a system of gathering information from a group of respondents by continuouslymonitoring the promotions panel members are exposed to and their subsequent purchase behavior.
 
 __F__ 32. Los Hermanos Cafe has successfully operated seven restaurants in the same community for 20 years.Management plans to introduce an egg and cheese breakfast burrito to three restaurants after having successwith this product in its other four diners. Los Hermanos Cafe doesn't need to conduct research beforeintroducing the new product in its remaining restaurants.
 
 
 __T__ 33. Competitive intelligence allows managers to predict changes in business relationships, identify marketplaceopportunities, and discover new or potential competitors.
 
 __T__ 34. Lobbying, product publicity, and crisis management are all functions of public relations tools.
 
 __T__ 35. Crisis management should begin before a crisis occurs.
 
 __T__ 36. A sales promotion campaign could include any (or all) of the four promotional elements of the promotionalmix.
 
 __T__ 37. Sales promotions are primarily short-term incentives. Immediate purchase is usually the goal of sales promotion.
 
 ____ 38. Coupon distribution by packaged-goods manufacturers has been increasing in recent years.
 
 __F__ 39. When Hasbro Games offers to pay a $2 refund to any customer who purchases either a Connect Four,Trouble, Operation, Battleship, Twister, or Guess Who? game, it is an example of a premium offer.
Rebate
 
 __T__ 40. During the month of July 2006, any child who got a McDonald¶s Happy Meal also received a toy inspired byDisney's
 P 
irates of the Caribbean: Dead Man's Chest 
. The toy is an example of a premium.
 
 __F__ 41. Point-of-purchase promotions are seldom used as a sales promotion tool because most purchase decisions aremade before consumers ever enter a store.
 
 __T__ 42. Hewlett-Packard offered $25 to individual Office Depot salespeople for each HP Laser Jet printer they sold.The $25 is push money.
 
 __T__ 43. Manufacturers use trade promotions because they help manufacturers gain new distributors, obtainintermediary support for consumer promotions, and improve trade relations.
 
 __T__ 44. Personal selling becomes a more important promotional tool as product complexity and buyer risk increase.
 
 __T__ 45. Consultative selling is also called relationship selling.
 
 __T__ 46. Relationship selling is typically used to sell industrial-type goods, such as oil drilling equipment.
 
 __T__ 47. With relationship selling the salesperson would spend most of his or her contact time with the prospecttalking about the product because the salesperson does not want to waste the customer's time.
 
 ____ 48. To qualify a sales lead, a salesperson must identify the person in an organization who has the authority to buythe product and must close the sale with that individual.
 
 __T__ 49. Salespeople should view objections as requests for information.
 
 __T__ 50. The final selling duty for most successful salespeople is closing the sale.
 
M
ultiple Choice
 
 Identify the choice that best completes the statement or answers the question.
  __E__ 51. _____ is the process of dividing a market into meaningful groups that are relatively similar and identifiable.a. Perceptual mapping b. Positioningc. Micromarketingd. Market samplinge. Market segmentation __E__ 52. Market segmentation helps businesses to:a. define customer needs and wants more precisely

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