Question 1: __________ refers to a business buying situation in which the buyer purchases a product or service for the first time.
Reverse auction
New task
Straight rebuy
Modified rebuy
Derived demand
Question 2: The single most important demographic trend in the United States is the __________.
changing family structure of the population
increasing number of professional jobs
changing age structure of the population
mobility of families
increasing birth rate
Question 3: Which of the following is true of the Baby Boomers?
They represent a rapidly shrinking market for new housing and home remodeling.
They are long past their peak earning and spending years.
They tend to see themselves as far older than they actually are.
They control an estimated 80 percent of the personal wealth in the U.S.
They have utter fluency and comfort with digital technology.
Question 4: Wholesome Soups, a maker of organic soups, is starting a new marketing campaign emphasizing the ease of preparing and eating Wholesome Soups. Print, television, and Internet ads feature teens enjoying Wholesome Soups in between classes and during study breaks. Wholesome Soups' new marketing campaign is most likely aimed at which of the following?
The LOHAS market
Millennials
The SOHO market
Gen Xers
Baby Boomers
Question 5: Firms use competitive marketing intelligence to __________.
counter the adverse effects of organizational anarchy
create and sustain market monopolies
perpetuate organizational learning
strengthen weak ties with industry competitors
gain early warnings of competitor moves and strategies
Question 6: Which of the following is the first step in the marketing research process?
Interpreting and reporting the findings
Developing the research plan
Defining the problem and objectives of the study
Implementing the research plan
Developing a marketing information system
Question 7: JoAnn Fabrics Inc. has created a new combination of colors and fabric types. The firm wants to know how consumers will perceive the new product. The firm is concerned with the product __________.
activation
placement
idea
image
displacement
Question 8: Nike produces shoes out of "environmentally preferred materials", recycles old sneakers, and educates young people about conserving, reusing, and recycling. Nike is practicing:
design for environment.
corporate social responsibility.
brand imaging.
new clean technology.
pollution prevention.
Question 9: "Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods." This is an example of __________.
product diversification
demographic segmentation
psychographic segmentation
geographic segmentation
branding
Question 10: __________ are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.
Supplies and repair services
Shopping products
Unsought products
Capital items
Convenience products
Question 11: Taking advantage of the trend in multi-generational housing, Madison Builders is aggressively marketing its "home within a home" concept, which features a grandparents' mini-home incorporated into a large single-family house. Which environmental force is Madison Builders counting on for its future home sales?
Political
Technological
Social
Competition
Economic
Question 12: Casey has finally finished his Saturday chores and is preparing for a little "me time" away from the house and family. He and his wife have agreed on a budget of $50 for his weekly Saturday outings with his buddies. They are debating whether to play golf, watch the game at the local sports bar, or visit the car show as they only have funds for one of these. What environmental force are Casey and his friends experiencing?
Competition
Political
Economic
Social
Technological
Question 13: FlashFlix, a streaming movie service, created a blog to help parents on budget plan "movie at home" parties for their kids and their friends, offering prizes to the best blog story about how the family was coping with a tight budget. To which environmental force is FlashFlix reacting?
Competition
Technological
Social
Economic
Political
Question 14: The Farmer's Pantry, an all-natural upscale grocery store, tends to cater to a well-educated, upper-middle-class clientele. The stores use streaming video from the farms and fishing boats that supply their products directly to their customers' phones via hash tags. What environmental force is Farmer's Pantry leveraging?
Social
Economic
Competition
Political
Technological
Question 15: Responding to very strict "green" legislation, the chemical firm Atticus Environmental is touting the safety of its consumer-based vegetable garden insecticide, claiming it bio-degrades in 90 days, which is twice as fast as required by the new law. Which environmental factor is the firm hoping to leverage for additional sales?
Political
Competition
Economic
Technological
Social
Question 16: The firm that makes Betty Sue's Down Home Pork Rinds found that their best customers enjoy NASCAR, pro wrestling, family gatherings, and are politically conservative. These are considered to be the __________ of the market segment
demographics
customer attributes
media choices
social planning elements
psychographics or lifestyle
Question 17: Patty's Party Palace plans all year for their Halloween spectacular specializing in adult versions of animated characters such as Snow White and the Little Mermaid. Which subset of behavioristic segmentation would Patty most likely use?
Price
Occasion
Holiday
Psychographic
Heavy/light user
Question 18: Research and experience shows that most supermarkets are able to draw customers from approximately a five mile radius; however, Trader's Joe's draws from a much larger area due to their image and special products. If Trader Joe's uses this phenomenon in developing a persona for a group of customers, this would be an example of what type of segmentation?
Psychographic
Geographic
Branded
Price
Demographic
Question 19: Select the definition that best describes the concept of a persona.
A set of characteristics used in setting price.
A segmentation strategy based on the beliefs of consumer.
A set of psychological traits used in identifying advertising.
A fictional name and set of characteristics describing a market segment.
The demographic traits of a group of consumers.
Question 20: The quantitative (numerical) segmentation factors that help a marketing manager decide where, and to whom, to sell the firm's products such as age, race, gender, and income are known as:
communications planning.
demographics.
lifestyle choices.
numeric profile.
market planning.