MidTerm 1 Answer Key

MidTerm 1 Answer Key - 6M:100 SCB FALL MIDTERM #1 ANSWER...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
6M:100 SCB FALL MIDTERM #1 ANSWER KEY MULTIPLE CHOICE QUESTIONS 1. D. A social factor. 2. D. A value. 3. E. A high demand for U.S.-made products would be an opportunity. 4. A. Exporting. 5. C. Break-even analysis. 6. A. Target market. 7. B. The market it wishes to serve. The choice of the market to serve determines the product and technology decisions. 8. C. Message adaptation. AFLAC altered its promotional strategy to reach the Japanese market. 9. D. Exporting. Exporting is selling domestically produced products into another country. Exporting would allow more use of the existing overcapacity. Other alternatives do not mitigate this problem for the brewers. 10. B. Survey research. 11. A. Situation analysis. 12. E. Enable the marketer to tailor marketing mixes to meet the needs of one or more specific groups. The purpose of segmentation is to group similar consumers and to serve their needs with a specialized marketing mix. 13. E. All of the choices have a competitive advantage. While not all have sustainable competitive advantage, all do have a unique feature that differentiates them from other businesses selling similar products. 14 E. Recognition of the marketing opportunity. Marketing research can hone in and identify where the best opportunities lie. 15. A. They obtain additional information that reinforces their decision. New information that reinforces positive ideas about the purchase tends to reduce cognitive dissonance and increases satisfaction. 16. B. Market segment. 17. C. Needs and wants and an ability and willingness to buy. A market is defined as having four imperative characteristics: people or organizations, needs and wants, ability, and willingness to buy. 18. B. The external environment. The external environment is basically uncontrollable, but the other four answers are part of the marketing mix.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
19. B. Niche competitive advantage. Yuengling offers a product that is only available in a limited area. 20. A. Selective distortion. Researchers have found that cures such as brand names influence consumers’ perception of products and brands. 21. B. Benefit. The benefit is easy-to-carry luggage. 22. C. Cultural. Smaller homes are part of the culture of Japan. 23. E. Be set within a one-year timeframe. There is no one-year time frame restriction on objectives though specifying a particular time frame makes an objective more clear and precise. 24.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 09/15/2011 for the course 6M 100 taught by Professor Staff during the Spring '11 term at University of Iowa.

Page1 / 5

MidTerm 1 Answer Key - 6M:100 SCB FALL MIDTERM #1 ANSWER...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online