Exam 80544RR Groundwork

     

1.   A resort employs _______ when it shifts the firm's   target market from singles to families. 

 

  

A. multisegmentation

 

B. undifferentiation

 

C. customization 

 

D. repositioning 

 

 

2.   _______ occurs when resources of any variety are   transferred between the parties to a transaction. 

 

  

A. Commerce 

 

B. Exchange 

 

C. Marketing 

 

D. Puffery 

  

3.   A mail-order company that uses PRIZM employs       _______ segmentation. 

 

  

A. geographic 

 

B. demographic         

 

C. geodemographic

 

D. psychographic         

 

 

4.   The items people own, the services they use, and       the activities they engage in are byproducts of _______ actions. 

 

  

A. networking 

 

 B.         marketing 

 

C. global 

 

D. high-involvement         

 

  

5.   Which of the following is an example of the           concentration targeting strategy? 

 

  

A. A             tailor who individualizes each suit for each customer 

 

B. A             cruise line that advertises to families and singles 

 

C. A toy             manufacturer that makes some toys for children and some for adults 

 

D. A retailer that sells gadgets for             left-handed people only 

  

6.                 If fewer people can afford the cost of a college education, this               will drastically impact consumer behavior. In a recent survey of               college pricing, the College Board reported that               "moderate" college budgets for in-state public colleges               and private colleges for the 2015–2016 academic year averaged               approximately _______, respectively. 

 

  

A. $20,000 and $35,000 

 

B. $10,000 and $30,000 

 

C. $24,000 and $48,000 

 

D. $15,000 and $40,000 

    

7.                     Which of the following is an example of demographic                   segmentation? 

 

  

A. A shoe producer who                     targets the heaviest users of sandals 

 

B.                     A newspaper that targets teenagers 

 

C. A mail-order business                     that segments their market by Zip code 

 

D. A restaurant that                     targets vegetarians 

 

8.                     Ava posted a message on the app Nextdoor, asking her                   neighbors if they knew of a store that sold vintage hats. She                   received several replies. Which of the following best                   describes this situation? 

 

  

A. The power of agents of                     change 

 

B. The influence of                     opinion leaders 

 

C.                     Word-of-mouth communication 

 

D. High-involvement                     purchasing 

 

  

9.   What do marketers attempt to do in                     each stage of the customer lifecycle? 

 

  

A. Advertise to the                       consumer about their other product offerings 

 

B.                       Maintain their customers for life 

 

C. Improve their                       customer centricity via touchpoints

 

D. Convince consumers to                       buy their product 

  

10.   Which of the following                         describes PersonicX household-level segmentation                         system? 

 

  

A.                           It characterizes six distinct types of                           households. 

 

B.                           It was developed by Nielsen Claritas. 

 

C. It enables marketers to                           reach targeted segments both on- and offline. 

 

D.                           It assigns colorful labels to segments such as                           "Young Digerati" and "Shotguns and                           Pickups." 

 

 

 

11.   Which of the following                         statements about the pay gap between college graduates                         and everyone else in American society is true?

 

  

A.                           It has remained constant in recent years. 

 

B.                           It has narrowed in recent years. 

 

C.                           It has disappeared altogether. 

 

D. It has widened over the                           years. 

  

12.                               Which of the following concepts pertains to                             the discipline of psychology? 

 

  

A. Norms 

 

B. Culture 

 

 C. Motivation 

 

D. Values 

  

13.   Which of the                                 following statements best reflects the                                 marketing concept? 

 

  

A. Quality of life is more important                                   than standard of living. 

 

 B. The consumer is the                                   center of all business activities. 

 

C. Always target the largest number of                                   segments that resources allow. 

 

D. Positioning is the most important                                   element of marketing. 

  

14.   Due to its                                     influence on the way a home operates, a                                     family's decision to purchase a dog would most                                     likely be a/an _______ decision. 

 

  

 A. high-involvement                                       

 

B. zero-involvement 

 

C. low-involvement 

D.                                       unnecessary

 

  

15.   Studies                                         reveal that the annual medical cost of                                         obesity in 2015 was around _______                                         billion, and marketers have been quick                                         to capitalize on this. 

 

  

A. $55 

 

B. $29 

 

C. $98 

 

 D. $147 

 

  

16.   Which of the                                         following is an example of behavioral                                         segmentation? 

 

  

A. A resort that targets                                         families with children 

 

B. A restaurant that targets                                         senior citizens 

 

C. A health club that targets                                         college students 

 

D. A                                         florist that targets those who buy the                                         most flowers 

 

  

17.   What three                                         customer attributes are AIO inventories                                         designed to reveal? 

 

  

A. Access, intuition, and                                         ownership 

 

B. Age, involvement, and                                         oversaturation 

 

C.                                         Activities, interests, and opinions 

 

D. Aspiration, inspiration, and                                         orientation 

  

18.   Which of the                                         following statements about a company                                         that implements the marketing concept                                         is true?

 

  

A. It                                         puts consumers at the forefront of its                                         activities. 

 

B. It spends more on advertising                                         than competitors. 

 

C. It charges lower prices than                                         competitors. 

 

D. It considers selling to be                                         the most important function of the                                         firm. 

  

19.   Which of the                                         following statements about perceptual                                         maps is true?

 

  

A. They chart the location of                                         major metropolitan markets. 

 

 B. They help                                         marketers visually profile the differences                                         among a number of brands that compete                                         in the marketplace. 

 

C. They help marketers divide                                         consumers into different values and                                         lifestyle categories. 

 

D. They break down a                                         metropolitan market by Zip codes and                                         demographic characteristics.

  

20.   The value of                                         the dollar is tied to that of the euro.                                         What does this mean? 

 

  

A. A stronger euro lowers the                                         cost of goods the United States imports                                         from overseas. 

 

B. A weaker euro raises the cost                                         of goods the United States imports from                                         overseas. 

 

C. A stronger dollar raises the                                         cost of goods the United States imports                                         from overseas. 

 

D. A weaker dollar                                         raises the cost of goods the United                                         States imports from overseas.