Question 2.2. (TCO 1) A decision is (Points : 3)
a conscious choice to select the only possible alternative.
a conscious choice between one positive alternative and all other negative alternatives.
a conscious choice from among two or more alternatives.
an unconscious choice of the alternative that presents the least amount of risk.
an unconscious choice of the alternative that presents the greatest possible assurance of success.
Question 3.3. (TCO 1) Research objectives are the (Points : 3)
restrictions placed on potential solutions by the nature of the research.
criteria or standards used in evaluating proposed solutions to the research.
goals the decision maker seeks to achieve in conducting the marketing research.
conjecture about factors or situations that simplify the problem enough to allow it to be solved using the proposed research.
specific goals an organization seeks to achieve and by which it can measure its performance.
Question 4.4. (TCO 1) An interview is an example of which type of marketing research? (Points : 3)
Question 5.5. (TCO 1) Which of the following statements represents a possible measure of success in the define-the-problem stage of the marketing research process? (Points : 3)
You have 3 weeks and $10,000 to determine if it is going to be profitable to serve breakfast on weekdays or not.
If 3-year-olds like this, then it stands to reason 4-year-olds will like it even more.
If observations show that children like Toy A more than Toy B in terms of hours spent playing with it, then we will move ahead with making Toy A.
Let's identify the most cost effective method of advertising.
Use mail questionnaires, not focus groups.
Question 6.6. (TCO 3) A picture or verbal description of a product or service a firm might offer for sale is known as a(n) (Points : 3)
Question 7.7. (TCO 1) Facts and figures that are newly collected for a project at hand are called (Points : 3)
internal secondary data.
external secondary data.
Question 8.8. (TCO 3) The process of segmenting a market and selecting specific segments as targets is the link between the various buyers’ needs and (Points : 3)
self-regulatory industry standards.
controllable environmental factors.
the organization's marketing program.
Question 9.9. (TCO 3) Lands’ End will custom fit the Marinac jacket and make it with additional features, such as thumb loops, underarm ventilation slits, and a key clip, when you order from LandsEnd.com. This is an example of (Points : 3)
how the 80/20 rule is implemented.
Question 10.10. (TCO 6) The first step in segmenting and targeting markets is to (Points : 3)
recognize a need.
group potential buyers into segments.
create product groupings.
estimate size of the overall market.
develop a market-product grid.
Question 11.11. (TCO 6) Potential buyers within a segment should be (Points : 3)
difficult to reach to prevent competitors from reaching them first.
similar to buyers among different segments.
similar in terms of a marketing action.
high cost to assign to segments.
interested in direct mail services.
Question 12.12. (TCOs 3, 5, and 6) A market-product grid is a framework to relate (Points : 3)
estimated expenses for products sold to various market segments.
total anticipated revenue for each product to market segments.
total anticipated profit for each product to segments.
the market segments of potential buyers to products offered or potential marketing actions by an organization.
the market segments of potential buyers to relative market share compared to the closest competitor.
Question 13.13. (TCO 6) Which of the following is a criterion used for selecting a target segment? (Points : 3)
Potential for increased profit
Similarity of needs of potential buyers within a segment
Difference of needs of buyers among segments
Potential of a marketing action to reach a segment
Compatibility with the organization’s objectives and resources
Question 14.14. (TCOs 3, 5, and 6) Changing the place an offering occupies in consumers' minds relative to competitive products is called (Points : 3)
Question 15.15. (TCOs 3, 5, and 6) Which of the following data are collected from consumers to develop a perceptual map for a particular product? (Points : 3)
A listing of all prospective brands and products
Managerial judgments about how consumers perceive products
Ratings of an ideal product’s or brand’s attributes
Rank order of the ratings of an existing brand's preference relative to its competitors
All of the above
Question 16.16. (TCOs 1, 3, 5, and 6) A product is a good, service, or idea consisting of a _____ that satisfies consumers and is received in exchange for money or some other unit of value. (Points : 3)
warranty from the seller
bundle of tangible and intangible attributes
bundle of tangible attributes
a tangible received in exchange for a person's time
bundle of intangible attributes
Question 17.17. (TCOs 1, 3, 5, and 6) Which of the following is NOT an attribute of a new product? (Points : 3)
The product is less than 6 months old.
The product requires a significant degree of new learning by consumers.
The product is new in legal terms.
The product is new from a competitor's perspective.
The product is new from the organization's perspective.
Question 18.18. (TCOs 1, 3, 5, and 6) Suppose that you are a marketing consultant hired to analyze why a new disposable mop did not sell, despite the fact that there are several very successful disposable mops on the market. Which of the following would most likely be the reason for the mop’s failure? (Points : 3)
Poor product quality
Insignificant point of difference compared to other disposable mops
Poor execution of the marketing mix
All of the above
Question 19.19. (TCOs 1, 3, 5, and 6) The first stage in the new-product process is (Points : 3)
screening and evaluation.
new-product strategy development.
Question 20.20. (TCOs 3 and 6) The market testing stage of the new-product process often involves test markets or purchase laboratories in which the dependent variable is (Points : 3)
Question 21.21. (TCOs 1, 3, 5, and 6) The marketing objective for a product in the _____ stage of the product life cycle is to create consumer awareness and gain trial. (Points : 3)
Question 22.22. (TCOs 1, 3, 5, and 6) When the National Cattlemen’s Beef Association advertises “Beef, It’s What’s for Dinner,” it is trying to stimulate _____ demand. (Points : 3)
Question 23.23. (TCOs 1, 3, 5, and 6) The stage in the product life cycle labeled B in the below figure is called
(Points : 3)
Question 24.24. (TCOs 1, 3, 5, and 6) Which of the following is a characteristic of the growth stage of the product life cycle? (Points : 3)
Advertising emphasis switches to primary demand.
There is a growing proportion of repeat purchasers to initial purchasers.
Product features remain unchanged.
Profit margins increase as sales increase.
All of the above
Question 25.25. (TCOs 1, 3, 5, and 6) The apple that appears on every Apple computer product is an example of a (Points : 3)
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