Question 1

Each society contains ________, groups with shared values emerging from their special life experiences or circumstances.

Accepted Answer

A)  stakeholders 
B)  cliques 
C)  consumer bundles 
D)  subcultures 
E)  behavioral niches 
A)  stakeholders 
B)  cliques 
C)  consumer bundles 
D)  subcultures 
E)  behavioral niches

Question 2

Elance.com is a service provider that allows contractors to describe their level of satisfaction with subcontractors. This is an example of a(n) ________.

Accepted Answer

A)  independent customer goods and service review forum 
B)  public blog 
C)  customer complaint site 
D)  combo site offering customer reviews and expert opinions 
E)  distributor or sales agent feedback site 
A)  independent customer goods and service review forum 
B)  public blog 
C)  customer complaint site 
D)  combo site offering customer reviews and expert opinions 
E)  distributor or sales agent feedback site

Question 3

Secondary beliefs and values are passed on from parents to children and reinforced by major social institutions, making them very difficult to change by marketers.

Accepted Answer

A) True 
 B)False

Question 4

When gathering marketing intelligence, companies often use the US census, which provides an in-depth look at the population swings, demographic groups, regional migrations, and changing family structure of the more than 281 million people living in the United States. Which of the following steps to improve the quality of a company marketing intelligence system would be most closely associated with this illustration?

Accepted Answer

A)  A company can purchase information from outside suppliers. 
B)  A company can take advantage of government data sources. 
C)  A company can use online customer feedback systems to collect data. 
D)  A company can network externally. 
E)  A company can use its sales force to collect and report data. 
A)  A company can purchase information from outside suppliers. 
B)  A company can take advantage of government data sources. 
C)  A company can use online customer feedback systems to collect data. 
D)  A company can network externally. 
E)  A company can use its sales force to collect and report data.

Question 5

Companies assume that the lower the product-penetration percentage, the lower will be the market potential.

Accepted Answer

A) True 
 B)False

Question 6

If a cheese factory was interested in estimating the market potential for a new light cheese and estimated the potential by multiplying a base number (population) by several adjusting percentages (e.g., personal discretionary income per capita, average percentage of discretionary income spent on food, etc.), it would be using the chain-ratio method to estimate market potential.

Accepted Answer

A) True 
 B)False

Question 7

________ projects the next period's sales by combining an average of past sales and the most recent sales, giving more weight to the latter.

Accepted Answer

A)  Time-series analysis 
B)  Statistical demand analysis 
C)  Econometric analysis 
D)  Cost effectiveness analysis 
E)  Exponential smoothing 
A)  Time-series analysis 
B)  Statistical demand analysis 
C)  Econometric analysis 
D)  Cost effectiveness analysis 
E)  Exponential smoothing

Question 8

When ConAgra learned that many mothers switched to time-saving meals and snacks when school started, it launched its "Seasons of Mom" campaign to help grocers adjust to seasonal shifts in household needs. Which of the eight possible actions to improve the quantity and quality of its marketing intelligence yielded this insight?

Accepted Answer

A)  Train and motivate the sales force to spot and report new developments. 
B)  Motivate distributors, retailers, and other intermediaries to pass along important intelligence. 
C)  Hire external experts to collect intelligence. 
D)  Network internally and externally. 
E)  Set up a customer advisory panel. 
A)  Train and motivate the sales force to spot and report new developments. 
B)  Motivate distributors, retailers, and other intermediaries to pass along important intelligence. 
C)  Hire external experts to collect intelligence. 
D)  Network internally and externally. 
E)  Set up a customer advisory panel.

Question 9

The traditional household consists of ________.

Accepted Answer

A)  a husband, wife, and children (and sometimes grandparents) 
B)  a group of related persons living together 
C)  two or more families living together 
D)  a man and a woman living together (whether married or not) 
E)  related or unrelated persons who share living arrangements 
A)  a husband, wife, and children (and sometimes grandparents) 
B)  a group of related persons living together 
C)  two or more families living together 
D)  a man and a woman living together (whether married or not) 
E)  related or unrelated persons who share living arrangements

Question 10

Firms find "reverse innovation" advantage by introducing a commodity in a ________.

Accepted Answer

A)  developed country and then distributing it globally 
B)  developing country and then distributing it in other developing countries 
C)  developing country and then distributing it globally 
D)  developed country and then distributing it in developing countries 
E)  developed country and then distributing it in other developed countries 
A)  developed country and then distributing it globally 
B)  developing country and then distributing it in other developing countries 
C)  developing country and then distributing it globally 
D)  developed country and then distributing it in developing countries 
E)  developed country and then distributing it in other developed countries

Question 11

A ________ is a "large social, economic, political, and technological change that is slow to form, and once in place, influences us for some time - between seven and ten years, or longer."

Accepted Answer

A)  fad 
B)  fashion 
C)  trend 
D)  megatrend 
E)  style 
A)  fad 
B)  fashion 
C)  trend 
D)  megatrend 
E)  style

Question 12

The distance between the market minimum and the market potential shows the overall ________.

Accepted Answer

A)  marketing sensitivity of demand 
B)  market share of the firm 
C)  market forecast of the firm 
D)  product-penetration percentage 
E)  sales quota 
A)  marketing sensitivity of demand 
B)  market share of the firm 
C)  market forecast of the firm 
D)  product-penetration percentage 
E)  sales quota

Question 13

A ________ is the company's estimated share of market demand at alternative levels of company marketing effort in a given time period.

Accepted Answer

A)  sales budget 
B)  market demand 
C)  company demand 
D)  company sales potential 
E)  market potential 
A)  sales budget 
B)  market demand 
C)  company demand 
D)  company sales potential 
E)  market potential

Question 14

The time between introduction of products and peak production is shrinking.

Accepted Answer

A) True 
 B)False

Question 15

Suppose 100 million people consume black tea every year, and an average consumer consumes 8 kgs of tea at an average price of $3 per kg. Compute the total market potential for tea.

Accepted Answer

The answer of Suppose 100 million people consume black tea...

Question 16

The absolute limit of company demand is the market potential; the two would be equal if the company captured 100 percent of the market.

Accepted Answer

A) True 
 B)False

Question 17

A growing portion of US R&D expenditures goes to the development as opposed to the research side.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is likely to occur during economic downturns?

Accepted Answer

A)  People tend to spend more on luxury goods. 
B)  Consumption of necessary goods decline. 
C)  Long-term credit is available at concessional rates of interest. 
D)  The purchasing power of the population declines. 
E)  The level of investment in the economy rises. 
A)  People tend to spend more on luxury goods. 
B)  Consumption of necessary goods decline. 
C)  Long-term credit is available at concessional rates of interest. 
D)  The purchasing power of the population declines. 
E)  The level of investment in the economy rises.

Question 19

Which of the following is true about trends in worldwide population growth?

Accepted Answer

A)  Birthrates are on the rise in developed countries. 
B)  Overall, the world population growth is declining. 
C)  Birthrates are on the rise in developing countries. 
D)  Death rates are rising in developing countries. 
E)  Population growth is highest in developing countries. 
A)  Birthrates are on the rise in developed countries. 
B)  Overall, the world population growth is declining. 
C)  Birthrates are on the rise in developing countries. 
D)  Death rates are rising in developing countries. 
E)  Population growth is highest in developing countries.

Question 20

Regulation of technological changes has been relaxed by the US government over recent years.

Accepted Answer

A) True 
 B)False

Each society contains ________, groups with shared values emerging from their special life experiences or circumstances.

Elance.com is a service provider that allows contractors to describe their level of satisfaction with subcontractors. This is an example of a(n) ________.

Secondary beliefs and values are passed on from parents to children and reinforced by major social institutions, making them very difficult to change by marketers.

Companies assume that the lower the product-penetration percentage, the lower will be the market potential.

________ projects the next period's sales by combining an average of past sales and the most recent sales, giving more weight to the latter.

The traditional household consists of ________.

Firms find "reverse innovation" advantage by introducing a commodity in a ________.

A ________ is a "large social, economic, political, and technological change that is slow to form, and once in place, influences us for some time - between seven and ten years, or longer."

The distance between the market minimum and the market potential shows the overall ________.

A ________ is the company's estimated share of market demand at alternative levels of company marketing effort in a given time period.

The time between introduction of products and peak production is shrinking.

Suppose 100 million people consume black tea every year, and an average consumer consumes 8 kgs of tea at an average price of $3 per kg. Compute the total market potential for tea.

The absolute limit of company demand is the market potential; the two would be equal if the company captured 100 percent of the market.

A growing portion of US R&D expenditures goes to the development as opposed to the research side.

Which of the following is likely to occur during economic downturns?

Which of the following is true about trends in worldwide population growth?

Regulation of technological changes has been relaxed by the US government over recent years.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning

Creating Brand Equity

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Managing a Holistic Marketing Organization for the Long Run

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Exam 3: Collecting Information and Forecasting Demand

Each society contains ________, groups with shared values emerging from their special life experiences or circumstances.

Elance.com is a service provider that allows contractors to describe their level of satisfaction with subcontractors. This is an example of a(n) ________.

Secondary beliefs and values are passed on from parents to children and reinforced by major social institutions, making them very difficult to change by marketers.

Companies assume that the lower the product-penetration percentage, the lower will be the market potential.

________ projects the next period's sales by combining an average of past sales and the most recent sales, giving more weight to the latter.

The traditional household consists of ________.

Firms find "reverse innovation" advantage by introducing a commodity in a ________.

A ________ is a "large social, economic, political, and technological change that is slow to form, and once in place, influences us for some time - between seven and ten years, or longer."

The distance between the market minimum and the market potential shows the overall ________.

A ________ is the company's estimated share of market demand at alternative levels of company marketing effort in a given time period.

The time between introduction of products and peak production is shrinking.

Suppose 100 million people consume black tea every year, and an average consumer consumes 8 kgs of tea at an average price of $3 per kg. Compute the total market potential for tea.

The absolute limit of company demand is the market potential; the two would be equal if the company captured 100 percent of the market.

A growing portion of US R&D expenditures goes to the development as opposed to the research side.

Which of the following is likely to occur during economic downturns?

Which of the following is true about trends in worldwide population growth?

Regulation of technological changes has been relaxed by the US government over recent years.

Defining Marketing for the New Realities

Developing Marketing Strategies and Plans

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Tapping Into Global Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning

Creating Brand Equity

Addressing Competition and Driving Growth

Setting Product Strategy

Designing and Managing Services

Introducing New Market Offerings

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Managing a Holistic Marketing Organization for the Long Run

Filters