Marketing Final Exam

Agencies and the degree of interdependence within the

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Unformatted text preview: within the industry. ANS: F Regulatory agencies are political and legal factors. PTS: 1 REF: 52 Thinking KEY: CB&E Model Strategy OBJ: 04-8 TOP: AACSB Reflective MSC: BLOOMS Comprehension MULTIPLE CHOICE 1. A(n) _____ is a defined group that managers feel is most likely to buy a firm’s product. a. target market b. buying center c. aggregated unit d. consumer cluster e. demographic sample ANS: A This is the definition of a target market. PTS: 1 REF: 39 Thinking KEY: CB&E Model Customer OBJ: 04-1 TOP: AACSB Reflective MSC: BLOOMS Knowledge 2. Which of the following statements best describes the typical target market? a. A target market will remain stable over time, including the same group of consumers. b. Target markets change over time as consumers drop in or out of the market, and as tastes change. c. Target markets are not strongly affected by changes in the external environment. d. Target markets only change when the features and benefits of the product offering change. e. Target markets cannot be specifically defined according to age, income, or location, because these factors are continually changing. ANS: B Target markets are defined and described, but they are always changing in response to the environment. PTS: 1 REF: 39 Thinking KEY: CB&E Model Customer OBJ: 04-1 TOP: AACSB Reflective MSC: BLOOMS Evaluation 3. Colorific recently began competing with Crayola coloring products. At the beginning of the school year, the _____ for Colorific products consists of back-to-school shoppers. a. target market b. buying center c. mass market d. consumer sample e. aggregated demography ANS: A A target market is a defined group that managers feel is most likely to buy its products. PTS: 1 REF: 39 Thinking KEY: CB&E Model Customer OBJ: 04-1 TOP: AACSB Reflective MSC: BLOOMS Application 4. The publisher of Ebony magazine has forged an alliance with Dan River, Inc. to create luxury bed and bath products for the newly developed Ebony Home brand. Ebony Home will use the publisher’s long history and expertise to market to the African American market. The African American market is the _____ for the Ebony Home brand. a. target market b. buying center c. aggregated unit d. consumer cluster e. demographic sample ANS: A A target market is a defined group that managers feel is most likely to buy a firm’s product. PTS: 1 REF: 39 Thinking KEY: CB&E Model Customer 5. The external environment: a. b. c. d. OBJ: 04-1 TOP: AACSB Reflective MSC: BLOOMS Application can be controlled in much the same manner as the internal marketing mix cannot be influenced by marketing managers does not change over time does not have an impact on Fortune 500 companies must be continually monitored by marketing managers e. ANS: E The goal in gathering the environmental data is to identify future market opportunities and threats. PTS: 1 REF: 40 Thinking KEY: CB&E Model Strategy OBJ: 04-1 TOP: AACSB Reflective MSC: BLOOMS Analysis 6. All of the following are factor...
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This document was uploaded on 09/29/2013.

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