BUS 491CS Practice Exam

4/21/23, 7:43 PM Mini-Quiz 10%: Jack Stauber
2 / 2 pts
Question 1
The process of setting a high price for a new product to gain maximum
revenues layer by layer from the segments willing to pay the high prices is
called:
market-skimming pricing
market-penetration pricing
market-layering pricing
market-saturation pricing
0 / 2 pts
Incorrect Question 2
Choose the best definition of brand equity among these statements:
the value of a branded product compared to a non-branded product
the branded product monetary value
the image of a brand
the positioning of a brand
2 / 2 pts
Question 3
Which of the following best describes the first stage of the new product
development process?
idea generation
https://canvas.csun.edu/courses/122157/assignments/1337631/submissions/225581 1/19
idea screening
concept development and testing
business analysis
2 / 2 pts
Question 4
One need to collect Primary data and then secondary data to complete
good research.
True
False
First Secondary
2 / 2 pts
Question 5
____________ is the process of evaluating each market consumer’s

attractiveness and selecting one or more segments to enter.
market targeting
mass marketing
market segmentation
market positioning
2 / 2 pts
Question 6
The stage in the product life cycle where the marketing objective is to
maximize profit while defending market share:
maturity stage
decline stage
introduction stage
growth stage
2 / 2 pts
Question 7
Pull strategies are MOSTLY directed to:
consumers
negotiators
sellers
retailers
2 / 2 pts
Question 8
The stage of the PLC characterized by overcapacity, greater competition,

and the eventual elimination of weaker competitors is called the:
maturity stage
decline stage
introduction stage
growth stage
2 / 2 pts
Question 9
Which of the following research designs should you conduct first?
exploratory research design
experimental research design
descriptive research design
primary research design
2 / 2 pts
Question 10
If a company is focusing on multiple niches at the same time its targeting

strategy is named:
concentrated marketing
target marketing
differentiated marketing
undifferentiated marketing
2 / 2 pts
Question 11
What is the Just Noticeable Difference also called JND in business mean?
The lowest level a consumer can feel a difference
Consumers getting used to what they are getting
Consumers detecting a minimal difference between two stimuli
The process customers use to categorize a situation
2 / 2 pts
Question 12
Satisfaction and value are related and somewhat similar, one of the
difference is that satisfaction is:
Evaluated after value
Harder for consumers to evaluate
More difficult to perceive
Not always necessary
2 / 2 pts
Question 13
What are the three basic Distribution Strategies? Except ...
Limited
Intensive
Exclusive
Selective
2 / 2 pts
Question 14
Considering the strategies available, assume that a company cuts prices,

increases advertising, tries to get its products into more stores, and
improve its store display. Which of the following strategies would the
company most likely be pursuing?
Market Penetration
Market Development
Product Development
Diversification
2 / 2 pts
Question 15
_______________ exerts the broadest and deepest influence on

consumer behavior.
Culture
Social Class
Personality
Lifestyle
0 / 2 pts
Which one should you do first? [… then Segmenting and Targeting.]
Identify salient consumer characteristics
Identify an identity
Identify a positioning
Identify Consumer Niches
2 / 2 pts
Question 17
A simple way to do qualitative research is to: [identify correct answer]
Interview an expert
Conduct a Survey
Collect more than 100 observations
Compute some statistical data
2 / 2 pts
Question 18
Businesses are successful when they create problems to their consumers

because problems:
Create dissatisfaction with actual state
Are actual states
Are want states
Create needs
2 / 2 pts
Question 19
If Nintendo sells its game consoles at low prices but then makes much
more money on their video game titles, they are using which of the
following product-mix pricing strategies?
captive-product pricing
by-product pricing
product line pricing
optimal-product pricing
0 / 2 pts
According to the video I referenced for you to watch (namely, "Are OLD
CARS more RELIABLE? Planned obsolescence and SUSTAINABILITY in
the AUTO INDUSTRY") Who is ultimately planning for car obsolescence?
The car buyers
The car manufacturers
The rules, regulations and laws from the Government
The competitiveness between car manufacturers
2 / 2 pts
Question 21
Which of the following terms best describes the environment that includes
the forces that affect its ability to serve its customers – the top
management, the finance, the R&D, the purchasing, the manufacturing,
and the accounting?
Internal Microenvironment
Microenvironment
Macroenvironment
External Macroenvironment
2 / 2 pts
Question 22
In business there are many more strategies than tactics.
True
False
Fewer strategies and many tactics.
2 / 2 pts
Question 23
The most important communication objectives are? [Except]
Encode
Inform
Compare
Persuade
0 / 2 pts
_____________- is the task that consists in assessing each competitor’s

strengths and weaknesses (choose best answer).
Benchmarking Analysis
SWOT analysis
Market Analysis
Competitive Advantage Analysis
2 / 2 pts
Question 25
Which one of these is not a function part of the promotion Mix?
Positioning
Public Relations
Phone Marketing
Sponsoring
2 / 2 pts
Question 26
The first stage of the buyer decision process is?
Need recognition
Desire
Awareness
Value recognition
2 / 2 pts
Question 27
The process of dividing a market into groups of consumers who share

similarities is referred to as:
market segmentation
product positioning
brand equity
situation analysis
2 / 2 pts
Question 28
All of the following are considered basic competitive strategies EXCEPT:
Market builder
Market leader
Market follower
Market challenger
2 / 2 pts
Question 29
Marketers need to assess each competitor’s strengths and weaknesses

carefully in order to answer the critical question:
What can our competitors do?
How can I make profits?
When will I come under attack?
When should I consider an exit strategy?
2 / 2 pts
Question 30
What is happening in the black box also named process stage of

consumer decision making?
Psychological factors are affecting consumers
The sales departments are communicating with the consumers
Marketers set the price
Consumers make the purchase
2 / 2 pts
Question 31
The MOST difficult part of the SWOT analysis is:
The Opportunity Analysis
The Competitors analysis
The External Analysis
The internal Analysis
2 / 2 pts
Question 32
According to Maslow's hierarchy of needs, the need to differentiate

yourself from others is:
esteem needs
self-actualization needs
social needs
physiological needs
2 / 2 pts
Question 33
The simplest definition of marketing is:
delivery of customer satisfaction at a profit
buy low, sell high
demand equals consumer response
deliver products at the highest possible price
2 / 2 pts
Question 34
the AUTO INDUSTRY") people replace material possessions when?
When there is a strong enough emotional incentive to do so
When these material possessions are broken
When these material possessions have come at the end of their lifespan
When these material possessions are old and out of warranty
0 / 2 pts
In your Place Mix, brokers are important for which reason?
they can speed up your sales
they do not take title of the products
they perform limited distribution services
they finance the production of the products
2 / 2 pts
Question 36
All of the following are advantages of using secondary data EXCEPT:
secondary data usually costs more than primary data
secondary data can be obtained from either internal or external sources
secondary data can be obtained more quickly than primary data
secondary data can often provide data an individual company cannot

collect on its own
2 / 2 pts
Question 37
The marketing mix is made of: [EXCEPT]
Priority
Product
Promotion
Place
2 / 2 pts
Question 38
Quantitative research implies using surveys for instance.
True
False
2 / 2 pts
Question 39
The activities involved in selling goods and services to those buying for
resale or business use are called?
wholesaling
discounting
factoring
retailing
2 / 2 pts
Question 40
The strategy of going after a new product that is unusual for the company
and in a very different market is called:
diversification
market development
market penetration
product development
2 / 2 pts
Question 41
The difference between what the customer gains from owning and using a
product and the cost of obtaining the product is called ____________.
customer value
customer quality
customer satisfaction
perceptual relationships
2 / 2 pts
Question 42
Which one of the following statements look like a business opportunity?
the air is increasingly getting polluted according to the American Health

Society
since the air is polluted we should be making pollution masks
our pollution masks are rated the best protection against air pollution by
the American Health Society
we could partner with a popular brand of filter to improve the quality of our
pollution masks
2 / 2 pts
Question 43
The primary marketing task of any business is to ________.
deliver customer value at a profit
create customer needs
differentiate in terms of cost of production
reduce competition
2 / 2 pts
Question 44
When a company enters a new product category for which its current
brand names are not appropriate, it will likely follow which of the following
brand strategies?
new brand
brand extension
line extension
product extension
2 / 2 pts
Question 45
Which one of these concepts of Brand Equity is reducing the marketing

costs to leverage the trade?
brand loyalty
brand preference
brand associations
brand quality
2 / 2 pts
Question 46
If a company is making a specific product for a unique target, its targeting

strategy is called:
differentiated targeting strategy
segmented targeting strategy
positioned targeting strategy
concentrated targeting
2 / 2 pts
Question 47
These are attributes of bargaining power between manufacturers and

retailers. One of them only belongs to
the manufacturers. Which one?
product quality
consumer loyalty
reputation
contribution to profit
2 / 2 pts
Question 48
If a company sells its product directly to the consumer without using any
intermediaries, it is using a(n):
direct marketing channel
indirect marketing channel
forward channel
straight channel
2 / 2 pts
Question 49
All of the following are “first mover” or innovator advantages, EXCEPT:
benefit from existing marketing efforts
get to choose best target market
product becomes category prototype against which all others are judged
lock up necessary resources, for eg. distribution
2 / 2 pts
Question 50
the AUTO INDUSTRY") when reviewing and giving financial incentives for
new cars the Government rules and regulations are mostly looking at:
Vehicle emissions while the car is running
Vehicle sustainability
Vehicle ability to be easily fixed by owner and easily upgraded
Vehicle durability and reliability
Quiz Score: 100 out of 100

This quiz score has been manually adjusted by +10.0 points.

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4/21/23, 7:43 PM Mini-Quiz 10%: Jack Stauber

Choose the best definition of brand equity among these statements:

the value of a branded product compared to a non-branded product

the branded product monetary value

the image of a brand

the positioning of a brand

concept development and testing

____________ is the process of evaluating each market consumer’s

Pull strategies are MOSTLY directed to:

The stage of the PLC characterized by overcapacity, greater competition,

Which of the following research designs should you conduct first?

exploratory research design

experimental research design

descriptive research design

primary research design

If a company is focusing on multiple niches at the same time its targeting

The lowest level a consumer can feel a difference

Consumers getting used to what they are getting

Consumers detecting a minimal difference between two stimuli

The process customers use to categorize a situation

Evaluated after value

Harder for consumers to evaluate

More difficult to perceive

Not always necessary

What are the three basic Distribution Strategies? Except ...

Considering the strategies available, assume that a company cuts prices,

_______________ exerts the broadest and deepest influence on

Which one should you do first? [… then Segmenting and Targeting.]

Identify salient consumer characteristics

Identify Consumer Niches

A simple way to do qualitative research is to: [identify correct answer]

Collect more than 100 observations

Compute some statistical data

Businesses are successful when they create problems to their consumers

Create dissatisfaction with actual state

Are actual states

Are want states

product line pricing

The car buyers

The car manufacturers

The rules, regulations and laws from the Government

The competitiveness between car manufacturers

In business there are many more strategies than tactics.

Fewer strategies and many tactics.

The most important communication objectives are? [Except]

_____________- is the task that consists in assessing each competitor’s

Competitive Advantage Analysis

Which one of these is not a function part of the promotion Mix?

The first stage of the buyer decision process is?

The process of dividing a market into groups of consumers who share

All of the following are considered basic competitive strategies EXCEPT:

Marketers need to assess each competitor’s strengths and weaknesses

What can our competitors do?

How can I make profits?

When will I come under attack?

When should I consider an exit strategy?

What is happening in the black box also named process stage of

Psychological factors are affecting consumers

The sales departments are communicating with the consumers

Marketers set the price

Consumers make the purchase

The MOST difficult part of the SWOT analysis is:

The Opportunity Analysis