Question 1

Branding is a process of using symbols to communicate the qualities of a particular product made by a particular company.

Accepted Answer

A) True 
 B)False

Question 2

What are physical products purchased by companies to produce other products called?

Accepted Answer

A) Reseller goods 
B) Work-in-progress goods 
C) Consumer goods 
D) Industrial goods 
E) Transition goods 
A) Reseller goods 
B) Work-in-progress goods 
C) Consumer goods 
D) Industrial goods 
E) Transition goods

Question 3

What is the last step in the consumer buying process?

Accepted Answer

Post-purch

Question 4

The importance of ________ in marketing can be seen in the example of the introduction of "Crayola IQ" colour pencils because crayons were seen as too "babyish" by 8 to 12-year olds.

Accepted Answer

A) language 
B) geography 
C) demographics 
D) history 
E) psychology 
A) language 
B) geography 
C) demographics 
D) history 
E) psychology

Question 5

What is the main factor that is used to distinguish expense items from capital items?

Accepted Answer

The distinction is largely based on time

Question 6

It is estimated that it takes 100 new product ideas to generate 1 product that finally reaches the marketplace.Even then,only a few of those become successful products.

Accepted Answer

A) True 
 B)False

Question 7

A market research technique based on questioning a representative sample of consumers about purchasing attitudes and practices is which of the following?

Accepted Answer

A) Audit 
B) Inquiry 
C) Survey 
D) Analysis 
E) Investigation 
A) Audit 
B) Inquiry 
C) Survey 
D) Analysis 
E) Investigation

Question 8

Hilltel sells smartphones and other electronic devices.The company has decided to sell its products internationally and is considering using a standardized marketing approach wherever it sells its products. Hilltel's head of marketing thinks that a standardized marketing strategy will allow the company to portray a consistent global brand.Which of the following,if true about using a single marketing approach,would strengthen his case?

Accepted Answer

A) The company would face more competition overseas than otherwise. 
B) The company's products would need to be of the most recent technology. 
C) The prices of the company's products will be the same everywhere in the world. 
D) An international marketing team would need to be hired to craft an appropriate strategy. 
E) The company's products could be standardized accordingly. 
A) The company would face more competition overseas than otherwise. 
B) The company's products would need to be of the most recent technology. 
C) The prices of the company's products will be the same everywhere in the world. 
D) An international marketing team would need to be hired to craft an appropriate strategy. 
E) The company's products could be standardized accordingly.

Question 9

What is a moderately expensive,infrequently purchased good or service called?

Accepted Answer

A) Impulse good 
B) Convenience good 
C) Occasional good 
D) Shopping good 
E) Luxury good 
A) Impulse good 
B) Convenience good 
C) Occasional good 
D) Shopping good 
E) Luxury good

Question 10

If a company requires consumer response to a new product under real conditions,which phase of the product development process would the company use?

Accepted Answer

A) Business analysis 
B) Concept testing 
C) Commercialization 
D) Screening 
E) Product testing and test marketing 
A) Business analysis 
B) Concept testing 
C) Commercialization 
D) Screening 
E) Product testing and test marketing

Question 11

What is a product?

Accepted Answer

A product is a good,

Question 12

Discuss the five common methods of segmenting consumer markets.

Accepted Answer

The five common methods are geographic (

Question 13

Which of the following is a convenience service?

Accepted Answer

A) A limousine ride from the restaurant to senior prom 
B) Catering for a wedding reception 
C) A haircut at one of Great Clips' 3000 quick-service salons 
D) A hotel room next door to the convention you're attending 
E) The daily newspaper 
A) A limousine ride from the restaurant to senior prom 
B) Catering for a wedding reception 
C) A haircut at one of Great Clips' 3000 quick-service salons 
D) A hotel room next door to the convention you're attending 
E) The daily newspaper

Question 14

Many firms use ________,in which 6 to 15 people are brought together to talk about a product.A moderator leads a discussion,and employees from the sponsoring company may observe the proceedings from behind a one-way mirror.People's comments are taped,and researchers go through the data looking for common themes.

Accepted Answer

A) observation 
B) secondary data scanning 
C) experimentation 
D) visual survey 
E) focus groups 
A) observation 
B) secondary data scanning 
C) experimentation 
D) visual survey 
E) focus groups

Question 15

Otto's Office Products is a large national company selling office supplies to businesses and everyday consumers.It is compiling an in-house data warehouse in order to identify customers and build relationships with them. The IT department has recommended that Otto's use data mining to build customer profiles and prepare business models to predict future purchasing behaviour.Otto's CEO is not in favour of data mining and argues that it shouldn't be used.Which of the following statements,if true,would support the CEO's argument for not using data mining?

Accepted Answer

A) Data mining can build profiles of Otto's best customers and then use behavioural characteristics to identify new customers. 
B) Data mining is helpful to salespeople as it can identify customers that would benefit from an individual sales call or provide them with buying reminders for particular products. 
C) Data mining can be used to track online behaviour of the customers by the use of cookies and identify customer interests and business needs. 
D) A privacy paradox exists whereby mining personal information is intrusive,but also leads to better targeting. 
E) Data mining can help spot trends and patterns in customer purchases and enable the marketing department to shape advertising around these trends. 
A) Data mining can build profiles of Otto's best customers and then use behavioural characteristics to identify new customers. 
B) Data mining is helpful to salespeople as it can identify customers that would benefit from an individual sales call or provide them with buying reminders for particular products. 
C) Data mining can be used to track online behaviour of the customers by the use of cookies and identify customer interests and business needs. 
D) A privacy paradox exists whereby mining personal information is intrusive,but also leads to better targeting. 
E) Data mining can help spot trends and patterns in customer purchases and enable the marketing department to shape advertising around these trends.

Question 16

In consumer behaviour,what is the name for the influences that include the "way of living" that distinguishes one large group from another and one ethnic group from another?

Accepted Answer

A) Psychological 
B) Personal 
C) Social 
D) Domestic 
E) Cultural 
A) Psychological 
B) Personal 
C) Social 
D) Domestic 
E) Cultural

Question 17

Hostess Frito-Lay,the maker of Doritos,spent a year studying how to best reach its target market (teenagers).The researchers hung around shopping malls,schools,and fast-food outlets to watch teens.This is an example of primary data gathering.

Accepted Answer

A) True 
 B)False

Question 18

Purple Moon markets adventure software to pre-teen girls.This is an example of

Accepted Answer

A) relationship marketing. 
B) mass customization. 
C) product differentiation. 
D) customer identification. 
E) market segmentation. 
A) relationship marketing. 
B) mass customization. 
C) product differentiation. 
D) customer identification. 
E) market segmentation.

Question 19

In the 2018 BrandZ Top 100 Global Brands Ranking,the three most successful brands in the world were Google,Apple and Amazon.

Accepted Answer

A) True 
 B)False

Question 20

Groups of people with similar wants and needs that can be expected to show interest in the same products are called

Accepted Answer

A) customers. 
B) prospects. 
C) homogeneous segments. 
D) potential customers. 
E) target markets. 
A) customers. 
B) prospects. 
C) homogeneous segments. 
D) potential customers. 
E) target markets.

Branding is a process of using symbols to communicate the qualities of a particular product made by a particular company.

What are physical products purchased by companies to produce other products called?

What is the last step in the consumer buying process?

The importance of ________ in marketing can be seen in the example of the introduction of "Crayola IQ" colour pencils because crayons were seen as too "babyish" by 8 to 12-year olds.

What is the main factor that is used to distinguish expense items from capital items?

It is estimated that it takes 100 new product ideas to generate 1 product that finally reaches the marketplace.Even then,only a few of those become successful products.

A market research technique based on questioning a representative sample of consumers about purchasing attitudes and practices is which of the following?

What is a moderately expensive,infrequently purchased good or service called?

If a company requires consumer response to a new product under real conditions,which phase of the product development process would the company use?

What is a product?

Discuss the five common methods of segmenting consumer markets.

Which of the following is a convenience service?

In consumer behaviour,what is the name for the influences that include the "way of living" that distinguishes one large group from another and one ethnic group from another?

Hostess Frito-Lay,the maker of Doritos,spent a year studying how to best reach its target market (teenagers).The researchers hung around shopping malls,schools,and fast-food outlets to watch teens.This is an example of primary data gathering.

Purple Moon markets adventure software to pre-teen girls.This is an example of

In the 2018 BrandZ Top 100 Global Brands Ranking,the three most successful brands in the world were Google,Apple and Amazon.

Groups of people with similar wants and needs that can be expected to show interest in the same products are called

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters

Exam 12: Understanding Marketing Principles and Developing Products

Branding is a process of using symbols to communicate the qualities of a particular product made by a particular company.

What are physical products purchased by companies to produce other products called?

What is the last step in the consumer buying process?

The importance of ________ in marketing can be seen in the example of the introduction of "Crayola IQ" colour pencils because crayons were seen as too "babyish" by 8 to 12-year olds.

What is the main factor that is used to distinguish expense items from capital items?

It is estimated that it takes 100 new product ideas to generate 1 product that finally reaches the marketplace.Even then,only a few of those become successful products.

A market research technique based on questioning a representative sample of consumers about purchasing attitudes and practices is which of the following?

What is a moderately expensive,infrequently purchased good or service called?

If a company requires consumer response to a new product under real conditions,which phase of the product development process would the company use?

What is a product?

Discuss the five common methods of segmenting consumer markets.

Which of the following is a convenience service?

In consumer behaviour,what is the name for the influences that include the "way of living" that distinguishes one large group from another and one ethnic group from another?

Hostess Frito-Lay,the maker of Doritos,spent a year studying how to best reach its target market (teenagers).The researchers hung around shopping malls,schools,and fast-food outlets to watch teens.This is an example of primary data gathering.

Purple Moon markets adventure software to pre-teen girls.This is an example of

In the 2018 BrandZ Top 100 Global Brands Ranking,the three most successful brands in the world were Google,Apple and Amazon.

Groups of people with similar wants and needs that can be expected to show interest in the same products are called

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters