Question 1

________ marketing relies on word of mouth to build momentum and interest for a a product or idea.

Accepted Answer

A) Buzz 
B) Social 
C) Brand equity 
D) Niche 
E) Psychographic 
A) Buzz 
B) Social 
C) Brand equity 
D) Niche 
E) Psychographic

Question 2

In which stage of product development does market research have a major role?

Accepted Answer

A) Prototype development 
B) Commercialization 
C) Business analysis 
D) Product testing 
E) Concept testing 
A) Prototype development 
B) Commercialization 
C) Business analysis 
D) Product testing 
E) Concept testing

Question 3

The Chevrolet Spark is promoted to consumers based on fuel-efficiency and economy,while a Porsche is promoted based on high performance.This is an example of

Accepted Answer

A) relationship marketing. 
B) product positioning. 
C) product differentiation. 
D) mass customization. 
E) psychographic segmentation. 
A) relationship marketing. 
B) product positioning. 
C) product differentiation. 
D) mass customization. 
E) psychographic segmentation.

Question 4

Garrett is in the business of selling baseball bats.He decides to employ focus groups to determine which bats will likely be bestsellers.Which of the following groups will he be least likely to invite as participants?

Accepted Answer

A) Players from a professional baseball team 
B) Local college and high school baseball coaches 
C) Administrators of the local Little League baseball program 
D) Spectators at a baseball tournament 
E) Amateur players 
A) Players from a professional baseball team 
B) Local college and high school baseball coaches 
C) Administrators of the local Little League baseball program 
D) Spectators at a baseball tournament 
E) Amateur players

Question 5

Smartphones are an example of what kind of factor in the business environment?

Accepted Answer

A) Economic 
B) Technological 
C) Global 
D) Competitive 
E) Socio-cultural 
A) Economic 
B) Technological 
C) Global 
D) Competitive 
E) Socio-cultural

Question 6

Secondary data are

Accepted Answer

A) statistics and information that are available as a result of previous research. 
B) based on data newly collected for a specific research purpose. 
C) based on information gathered by someone else,but not yet published. 
D) any of the above,depending upon why the marketer is doing the research. 
E) data gathered for secondary areas of the firm like marketing research and accounting. 
A) statistics and information that are available as a result of previous research. 
B) based on data newly collected for a specific research purpose. 
C) based on information gathered by someone else,but not yet published. 
D) any of the above,depending upon why the marketer is doing the research. 
E) data gathered for secondary areas of the firm like marketing research and accounting.

Question 7

When Procter & Gamble sent video crews into households in the United Kingdom,Germany,and China to capture people's daily routines and product interaction,this was an example of primary data gathering and the use of observation as a market research method.

Accepted Answer

A) True 
 B)False

Question 8

Assume that you went to a shopping mall to determine people's attitudes toward a new peanut butter and pickle flavoured ice cream.You would be collecting ________ data.

Accepted Answer

A) census 
B) interview 
C) primary 
D) psychographic 
E) secondary 
A) census 
B) interview 
C) primary 
D) psychographic 
E) secondary

Question 9

Identify the five steps in the consumer buying process and explain what is involved in each step.

Accepted Answer

The five steps in the consumer buying pr

Question 10

Social media like Twitter and Facebook have facilitated the generation of new product awareness during the introduction stage of the product life cycle.

Accepted Answer

A) True 
 B)False

Question 11

Melissa was visiting San Francisco.When she arrived at Fisherman's Wharf,she decided to purchase a souvenir T-shirt for her boyfriend back home.Since there are about 40 T-shirt retailers in that area,Melissa spent the rest of the day searching for the shirt that would convey just the right meaning to her boyfriend.For Melissa,the shirt was a(n)________ good.

Accepted Answer

A) specialty 
B) convenience 
C) shopping 
D) accessory 
E) industrial 
A) specialty 
B) convenience 
C) shopping 
D) accessory 
E) industrial

Question 12

How might economic environmental factors affect the business of Panther Shoes,a manufacturer of athletic apparel?

Accepted Answer

Inflation rates affect prices;in turn,in

Question 13

The Delivery Company has an extensive distribution network in Canada.They buy products directly from manufacturers and distribute them to small retailers with a small mark-up.What market do they belong to?

Accepted Answer

A) Institutional market 
B) Demand-driven market 
C) Industrial market 
D) Primary market 
E) Reseller market 
A) Institutional market 
B) Demand-driven market 
C) Industrial market 
D) Primary market 
E) Reseller market

Question 14

Which of the following is correct with regard to packaging?

Accepted Answer

A) Fresh fruit and structural steel do not really need much packaging. 
B) The function of packaging is limited to product protection. 
C) Packaging does not provide advertising or promotion for products. 
D) Packaging costs can be as high as 50 percent of the total cost to make a product. 
E) All of these are correct. 
A) Fresh fruit and structural steel do not really need much packaging. 
B) The function of packaging is limited to product protection. 
C) Packaging does not provide advertising or promotion for products. 
D) Packaging costs can be as high as 50 percent of the total cost to make a product. 
E) All of these are correct.

Question 15

Provide examples showing how the importance of the marketing mix elements varies across different products.

Accepted Answer

All of the elements in the marketing mix

Question 16

It is January 15th and the temperature is -20 Celsius.You have been waiting in a frigid bus shelter,but the bus is nowhere to be found even after 45 minutes of waiting.You have been thinking about buying a used car and have been saving money for a purchase in the spring.At that moment,you decide to finally make the move to buy a car.That evening you go online and browse,and you also call up your cousin Gerry,who is a mechanic,and ask him what type of car he recommends.You are now in the ________ stage of the consumer buying process.

Accepted Answer

A) information seeking 
B) post-purchase evaluation 
C) problem recognition 
D) purchase decision 
E) evaluation of alternatives 
A) information seeking 
B) post-purchase evaluation 
C) problem recognition 
D) purchase decision 
E) evaluation of alternatives

Question 17

Why are businesses interested in the development of new products?

Accepted Answer

A) The federal government encourages every product manufacturer to spend 1 percent of revenue on new product development. 
B) New products are necessary to stay in business. 
C) New products keep the warranty and service departments busy. 
D) New products provide the fun that marketing managers need. 
E) Product development provides an opportunity for large tax write-offs. 
A) The federal government encourages every product manufacturer to spend 1 percent of revenue on new product development. 
B) New products are necessary to stay in business. 
C) New products keep the warranty and service departments busy. 
D) New products provide the fun that marketing managers need. 
E) Product development provides an opportunity for large tax write-offs.

Question 18

What are characteristics of populations that may be considered in developing a segmentation strategy called?

Accepted Answer

A) Psychographic variables 
B) Demographic variables 
C) Behaviour variables 
D) Purchaser variables 
E) Income variables 
A) Psychographic variables 
B) Demographic variables 
C) Behaviour variables 
D) Purchaser variables 
E) Income variables

Question 19

A group of people may share an age category,income level,or some other segmentation variable,but their spending habits may be quite different.

Accepted Answer

A) True 
 B)False

Question 20

What is the ability of a product to satisfy a human want or need called?

Accepted Answer

A) Purpose 
B) Value 
C) Function 
D) Usefulness 
E) Utility 
A) Purpose 
B) Value 
C) Function 
D) Usefulness 
E) Utility

________ marketing relies on word of mouth to build momentum and interest for a a product or idea.

In which stage of product development does market research have a major role?

The Chevrolet Spark is promoted to consumers based on fuel-efficiency and economy,while a Porsche is promoted based on high performance.This is an example of

Garrett is in the business of selling baseball bats.He decides to employ focus groups to determine which bats will likely be bestsellers.Which of the following groups will he be least likely to invite as participants?

Smartphones are an example of what kind of factor in the business environment?

Secondary data are

When Procter & Gamble sent video crews into households in the United Kingdom,Germany,and China to capture people's daily routines and product interaction,this was an example of primary data gathering and the use of observation as a market research method.

Assume that you went to a shopping mall to determine people's attitudes toward a new peanut butter and pickle flavoured ice cream.You would be collecting ________ data.

Identify the five steps in the consumer buying process and explain what is involved in each step.

Social media like Twitter and Facebook have facilitated the generation of new product awareness during the introduction stage of the product life cycle.

How might economic environmental factors affect the business of Panther Shoes,a manufacturer of athletic apparel?

The Delivery Company has an extensive distribution network in Canada.They buy products directly from manufacturers and distribute them to small retailers with a small mark-up.What market do they belong to?

Which of the following is correct with regard to packaging?

Provide examples showing how the importance of the marketing mix elements varies across different products.

Why are businesses interested in the development of new products?

What are characteristics of populations that may be considered in developing a segmentation strategy called?

A group of people may share an age category,income level,or some other segmentation variable,but their spending habits may be quite different.

What is the ability of a product to satisfy a human want or need 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

________ marketing relies on word of mouth to build momentum and interest for a a product or idea.

In which stage of product development does market research have a major role?

The Chevrolet Spark is promoted to consumers based on fuel-efficiency and economy,while a Porsche is promoted based on high performance.This is an example of

Garrett is in the business of selling baseball bats.He decides to employ focus groups to determine which bats will likely be bestsellers.Which of the following groups will he be least likely to invite as participants?

Smartphones are an example of what kind of factor in the business environment?

Secondary data are

When Procter & Gamble sent video crews into households in the United Kingdom,Germany,and China to capture people's daily routines and product interaction,this was an example of primary data gathering and the use of observation as a market research method.

Assume that you went to a shopping mall to determine people's attitudes toward a new peanut butter and pickle flavoured ice cream.You would be collecting ________ data.

Identify the five steps in the consumer buying process and explain what is involved in each step.

Social media like Twitter and Facebook have facilitated the generation of new product awareness during the introduction stage of the product life cycle.

How might economic environmental factors affect the business of Panther Shoes,a manufacturer of athletic apparel?

The Delivery Company has an extensive distribution network in Canada.They buy products directly from manufacturers and distribute them to small retailers with a small mark-up.What market do they belong to?

Which of the following is correct with regard to packaging?

Provide examples showing how the importance of the marketing mix elements varies across different products.

Why are businesses interested in the development of new products?

What are characteristics of populations that may be considered in developing a segmentation strategy called?

A group of people may share an age category,income level,or some other segmentation variable,but their spending habits may be quite different.

What is the ability of a product to satisfy a human want or need 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