QUESTION 4 In the context of understanding consumer needs and wants, which of the following is true of wants? A. They are the basic necessities, such...
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QUESTION 4In the context of understanding consumer needs and wants, which of the following is true of wants?

A. They are the basic necessities, such as food, clothing, shelter, and safety.

B. They are similar for all individuals.

C. They do not vary across cultures

.D. They do not influence people's buying behavior

.E. They are shaped by a person's knowledge, culture, and personality.


QUESTION 18

  1. Which of the following is NOT a microenvironmental factor?

A. company

B. corporate partners

C. consumers

D. competition

E. capabilities


QUESTION 20

  1. The term "marketing research" refers to:

A. a strategic way of developing a marketing plan by mixing the controllable elements

.B. an area of study concerned with managing the resources and activities of a firm.

C. a series of actions that help in enhancing the performance of firms

.D. a set of techniques for systematically collecting, recording, analyzing, and interpreting useful data

.E. a procedure that a marketer follows when developing a market plan.


QUESTION 21

  1. Which of the following is NOT a step in the marketing research process?

A. Design the research plan

B. Define the mission statement and objective

C. Analyze data

D. Collect data

E. Determine action plan

  

QUESTION 22

  1. Assuming that a particular market research study will reduce uncertainty associated with the proposed project, which of the following is the second question that needs to be addressed before starting the study?

A. How will the results be presented

B. Will observation research be considered intrusive?

C. Is top management committed to the study?

D. How will the questions be defined?

E. Who will manage the research?

QUESTION 24

  1. As a marketing researcher, one should differentiate between a real problem and a symptom of the real problem. Which one of the following is likely to be a symptom of the problem?

A. Change in customers' preferences

B. Change in size of the market

C. Customer preference of the new product features

D. Market share decline

E. New competitor entrance

  

QUESTION 25

  1. Which of the following is a source of secondary data?

A. Focus groups

B. Surveys

C. In-person interviews

D. Census data

E. Experiments

  

QUESTION 26

  1. Which of the following statements is NOT true about ethical issues associated with marketing decisions?

A. Marketers and sales professionals rank poorly in a rating of the most trusted professions

B. Customers pay attention to issues related to corporate ethics and social responsibility

C. Many executives believe that creating an ethical climate should be a firm's number one priority

D. Generally speaking, customers do not trust professionals

E. Customers are skeptical of marketing

  

QUESTION 27

  1. Which of the following refers to a branch of ethical study that examines ethical rules and principles within a commercial context?

A. Business ethics

B. Ethical climate

C. Corporate social responsibility

D. Consumerism

E. Moral mentor metric

  

QUESTION 28

  1. Deceptive advertising and promotion of inferior products are examples of unethical practices related to:

A. environment

.B. marketing.

C. marketplace.

D. finance.

E. labour .


QUESTION 32

  1. Establishing an ethical business climate requires all employees to be dedicated to that goal because:

A. their career prospects solely depend upon their ethical decisions.

B. managers rarely enforce values unless employees ask them to do so.

C. customers are only vaguely interested in a firm's ethical standards

.D. employees lack the visionary scope to understand the ramifications of unethical behavior.

E. the roots of ethical conflict often are the competing values of individuals.

QUESTION 34

  1. A company that sells shoes has a website with a make-your-own-shoe feature. It makes a vast number of styles in every major performance category available to the customer for personalization. This is an example of:

A. mass customization.

B. brand repositioning.

C. perceptual mapping.

D. undifferentiated positioning.

E. brand extension.

QUESTION 36

  1. Which of the following is true of mass customization?

A. It refers to the display, in two or more dimensions, of the position of products or brands in the consumer's mind.

B. It refers to a marketing strategy a firm can use if a product or service is perceived to provide the same benefits to everyone

.C. It refers to the mental picture that people have about a company and its products or services relative to competitors.

D. It refers to a strategy in which marketers change a brand's focus to target new markets or realign the brand's core emphasis with changing market preferences.

E. It refers to the practice of interacting on a one-to-one basis with many people to create custom-made products or services.


QUESTION 38

  1. Which of the following statements is true of middle-class consumers?

A. Their family income is usually between $20,000 and $30,000

.B. They rely on assistance to cover their basic needs

.C. They have very high discretionary incomes and tend to purchase luxury items

.D. They tend to be careful about their spending and are often value-conscious

.E. Their spending patterns are not influenced by economic conditions.

  

QUESTION 39

  1. Plus Light, a torch manufacturing company, releases high-intensity torches at incredibly low prices. Within a year, it achieves market monopoly by driving away most of its competitors from business. Which of the following practices did Plus Light engage in?

A. Predatory pricing

B. Price fixing

C. Price discrimination

D. Bid rigging

E. Resale price maintenance

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