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BUSN 319 Midterm Exam

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BUSN 319 Midterm Exam

 1.Question :(TCO 1) The Book Promoters Association of Canada members recently questioned what could be done to rejuvenate the Canadian book publishing industry.  Some members claimed the problem was Canadian retailers had been replaced by Wal-Marts.  Others said the problem was with stodgy promotions.  Still others said the problem was caused by too little money being budgeted to fund marketing programs.  It was time that Canadian book publishers used __________ to save the industry.
Student Answer: advertising
 sales promotion
 publicity
 marketing research
 tactical support

 

 2.Question :(TCO 1) The act of consciously choosing from alternatives is called
Student Answer: a dilemma.
 a quandary.
 decision making.
 a paradox.
 a predicament.

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 3.Question :(TCO 1) During the marketing research process, __________ are the specific, measurable goals the decision maker seeks to achieve in conducting the marketing research.
Student Answer: measures of success
 research objectives
 marketing research plans
 decisions
 definitions

 

 4.Question :(TCO 1) A test market is an example of which type of marketing research?
Student Answer: descriptive
 explanatory
 exploratory
 causal
 concrete

 

 5.Question :(TCO 1) When Home Depot entered the Quebec market, two percent of the population was aware of the retail chain.  To determine how effective its advertising was in the first 18 months of its presence in the Canadian province, it conducted awareness research for a second time.  Prior to conducting the research, it was decided that if at least 50 percent of the population were aware of the Home Depot brand that it would continue its present advertising program.  This is an example of a(n)
Student Answer: objective
 constraint
 assumption
 measure of success.
 barrier to entry

 

 6.Question :(TCO 3) Fisher-Price managers developed a(n) __________ for the Chatter Telephone that involved adding a noisemaker, wheels, and eyes to the basic telephone.
Student Answer: vision
 alternative
 hypothesis
 new-product concept
 opportunity

 

 7.Question :(TCO 1) Secondary data are the
Student Answer: facts and figures that are newly collected for the project at hand.
 facts and figures obtained by watching people mechanically rather than in person.
 facts and figures obtained by asking people questions.
 facts and figures that have already been recorded before the project.
 conclusions developed from information obtained from a representative sample of a population.

 

 8.Question :(TCO 3) The process of segmenting a market and selecting specific segments as targets is the link between the various buyer’s needs and
Student Answer: self-regulatory industry standards.
 government regulations.
 top-level management.
 controllable environmental factors.
 the organization’s marketing program.

 

 9.Question :(TCO 3) MyTwinn makes dolls that look like young girls.  For $119 they will make a doll that looks just like a photograph.  So, if you send in the money and a photo of your young niece, she could have a doll that is her twin!  This is an example of
Student Answer: mass customization.
 synergy
 target marketing.
 how the 80/20 rule is implemented.
 repositioning

 

 10.Question :(TCO 6) The first step in segmenting and targeting markets is to
Student Answer: recognize a need.
 group potential buyers into segments.
 create product groupings.
 estimate size of the overall market.
 develop a market-product grid.

 

 11.Question :(TCO 6) Which of the following is NOT a criterion used in forming segments?
Student Answer: potential for increased profit
 similarity of needs of potential buyers within a segment
 competitive position
 potential of marketing action to reach a segment
 simplicity and cost of assigning potential buyers to segments

 

 12.Question :(TCO 3, 5 & 6) A market-product grid is a framework to relate the market segments of potential buyers to
Student Answer: estimated expenses for products sold.
 total anticipated revenue.
 total anticipated profit.
 market share compared to closest competitor.
 products offered or potential marketing actions by an organization.

 

 13.Question :(TCO 6) Which of the following is a criterion used for selecting a target segment?
Student Answer: 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
 competitive position

 

 14.Question :(TCO 3, 5 & 6) Changing the place an offering occupies in consumers’ minds relative to competitive products is called
Student Answer: perceptual mapping.
 product positioning.
 product differentiation.
 repositioning
 psychographics

 

 15.Question :(TCO 3, 5 & 6) Which of the following data are collected from consumers to develop a perceptual map for a particular product?
Student Answer: a listing of all prospective brands and products
 managerial judgments about how consumers perceive products
 identification of the important attributes for a product class
 rank order of the ratings of an existing brand’s preference relative to its competitors
 All of the above types of data are collected from consumers.

 

 16.Question :(TCO 1, 3, 5 & 6) A __________ is a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range.
Student Answer: product class
 product mix
 product line
 marketing category
 product category

 

 17.Question :(TCO 1, 3, 5 & 6) The terms continuous innovation, dynamically continuous innovation, and discontinuous innovation, are classifications based on
Student Answer: generated sales.
 production technology.
 degree of learning required by the consumer.
 channels of distribution.
 industry growth.

 

 18.Question :(TCO 1, 3, 5 & 6) When General Foods introduced Post Cereals with freeze-dried fruits, people found that by the time the fruit had absorbed enough milk, the flakes were soggy.  Why did this product fail?
Student Answer: poor product quality
 insignificant point of difference compared to competitive offerings
 too little market attractiveness
 poor execution of the marketing mix
 no economical access to buyers

 

 19.Question :(TCO 1, 3, 5 & 6) A company defines the role for new products in terms of the firm’s overall corporate objectives in the __________ stage of the new-product process.
Student Answer: idea generation
 distinctive competency
 new-product strategy development
 business mission
 strategic management process

 

 20.Question :(TCO 3 & 6) Breyer’s introduced a new line of ice cream flavors for sale in elegant black containers.  This was done on a limited scale to determine consumer reactions before national distribution of the product.  Breyer’s new product was in the __________ stage of the new-product process.
Student Answer: commercialization
 screening and evaluation
 business analysis
 development
 market testing

 

 21.Question :(TCO 1, 3, 5 & 6) A product in the introduction stage of the product life cycle should have which of the following marketing objectives?
Student Answer: gain awareness and stimulate trial
 stress differentiation
 maintain brand loyalty
 gain as much distribution as possible
 reveal a marketing niche

 

 22.Question :(TCO 1, 3, 5 & 6) When the National Cattlemen’s Beef Association advertises Beef, It’s What’s for Dinner it is trying to stimulate __________ demand.
Student Answer: selective
 primary
 derived
 generic
 secondary

 

 23.Question :(TCO 1, 3, 5 & 6) The stage in the product life cycle labeled A in above Figure is called
Student Answer: introduction
 maturity
 growth
 diversification
 decline

 

 24.Question :(TCO 1, 3, 5 & 6) Which of the following is a characteristic of the growth stage of the product life cycle?
Student Answer: advertising emphasis switches to primary demand
 growing proportion of repeat purchasers to initial purchasers
 product features remain unchanged
 profit margins increase as sales increase
 All of the above are characteristics of the growth stage of the product life cycle.

 

 25.Question :(TCO 1, 3, 5 & 6) The apple that appears on every Apple computer product is an example of a
Student Answer: copyright
 trade name
 service mark
 brand name
 generic brand

 

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