Question 1

Which of the following is not a variable used for segmenting consumer markets?

Accepted Answer

A)  Demographics 
B)  Psychographics 
C)  Purchase behavior 
D)  Geographical characteristics 
E)  All of the above are variables used for segmenting consumer markets. 
A)  Demographics 
B)  Psychographics 
C)  Purchase behavior 
D)  Geographical characteristics 
E)  All of the above are variables used for segmenting consumer markets.

Question 2

Other components of value, such as brand, image, price, and product features, can provide a competitive advantage in today's business environment.

Accepted Answer

A) True 
 B)False

Question 3

Factors leading to the demise of mass marketing include:

Accepted Answer

A)  consumer affluence 
B)  manufacturing technology 
C)  multiple distribution channels 
D)  Only A and B 
E)  All of the above are factors. 
A)  consumer affluence 
B)  manufacturing technology 
C)  multiple distribution channels 
D)  Only A and B 
E)  All of the above are factors.

Question 4

A firm pursuing a customer-centric focus would be involved in all of the following except:

Accepted Answer

A)  producing new or improved products 
B)  utilizing evolving marketing methods 
C)  focusing on new or changing target markets 
D)  improving financial efficiencies 
E)  All of the above are areas in which a customer-centric firm is involved. 
A)  producing new or improved products 
B)  utilizing evolving marketing methods 
C)  focusing on new or changing target markets 
D)  improving financial efficiencies 
E)  All of the above are areas in which a customer-centric firm is involved.

Question 5

The ability to understand the inner logic and coherence of other ways of life and refrain from judging other value systems is called:

Accepted Answer

A)  Ethnographics 
B)  Cross-cultural analysis 
C)  Cultural empathy 
D)  Country-of-origin research 
E)  Intermarket analysis 
A)  Ethnographics 
B)  Cross-cultural analysis 
C)  Cultural empathy 
D)  Country-of-origin research 
E)  Intermarket analysis

Question 6

Which of the following cannot be viewed as a brand?

Accepted Answer

A)  Firms 
B)  Institutions 
C)  People 
D)  Service 
E)  All of the above can be viewed as a brand. 
A)  Firms 
B)  Institutions 
C)  People 
D)  Service 
E)  All of the above can be viewed as a brand.

Question 7

A thorough market analysis includes an examination of current and potential competitors.

Accepted Answer

A) True 
 B)False

Question 8

Global advertising campaigns focus on sending the same message to consumers around the world.

Accepted Answer

A) True 
 B)False

Question 9

The average failure rate of new products launched in the market is about 39 percent.

Accepted Answer

A) True 
 B)False

Question 10

Quality, often synonymous with value, is enough to sustain a competitive advantage in today's business environment.

Accepted Answer

A) True 
 B)False

Question 11

Mass marketing is more appropriate in industrially advanced countries than in less advanced countries with developing economies.

Accepted Answer

A) True 
 B)False

Question 12

Why is the 21st century appropriately called the "Century of the Consumer"?

Accepted Answer

Globalization and the shrinking of the c

Question 13

In the 4 P's that comprise the marketing mix, product refers to:

Accepted Answer

A)  goods 
B)  services 
C)  tangible and intangible attributes 
D)  A and B 
E)  A, B, and C 
A)  goods 
B)  services 
C)  tangible and intangible attributes 
D)  A and B 
E)  A, B, and C

Question 14

The size of the market refers to:

Accepted Answer

A)  Measurability 
B)  Marketability 
C)  Accessibility 
D)  Substantiality 
E)  Congruency 
A)  Measurability 
B)  Marketability 
C)  Accessibility 
D)  Substantiality 
E)  Congruency

Question 15

Many firms in industrialized countries are focusing their attention on soliciting new customers rather than retaining their existing customers because it is usually cheaper to recruit new customers.

Accepted Answer

A) True 
 B)False

Question 16

When marketers study the consumer environment, they would look at all of the following except:

Accepted Answer

A)  demographic trends 
B)  personal and group influences 
C)  knowledge, attitudes, and motivations 
D)  They would look at all of the above. 
A)  demographic trends 
B)  personal and group influences 
C)  knowledge, attitudes, and motivations 
D)  They would look at all of the above.

Question 17

The process of identifying a group of people similar in one or more ways is called:

Accepted Answer

A)  Market research 
B)  Target marketing 
C)  Market analysis 
D)  Market segmentation 
E)  None of the above. 
A)  Market research 
B)  Target marketing 
C)  Market analysis 
D)  Market segmentation 
E)  None of the above.

Question 18

Cross-cultural analysis is the comparison of similarities and differences in behavioral and physical aspects of cultures.

Accepted Answer

A) True 
 B)False

Question 19

According to consumer research, which of the following prices would be most likely to evoke perceptions of high quality?

Accepted Answer

A)  $30.00 
B)  $29.98 
C)  $25.50 
D)  $29.75 
E)  $27.99 
A)  $30.00 
B)  $29.98 
C)  $25.50 
D)  $29.75 
E)  $27.99

Question 20

The less individualized the product and the larger the segment for which it is designed, the greater the likelihood that the costs to the marketer will increase.

Accepted Answer

A) True 
 B)False

Which of the following is not a variable used for segmenting consumer markets?

Other components of value, such as brand, image, price, and product features, can provide a competitive advantage in today's business environment.

Factors leading to the demise of mass marketing include:

A firm pursuing a customer-centric focus would be involved in all of the following except:

The ability to understand the inner logic and coherence of other ways of life and refrain from judging other value systems is called:

Which of the following cannot be viewed as a brand?

A thorough market analysis includes an examination of current and potential competitors.

Global advertising campaigns focus on sending the same message to consumers around the world.

The average failure rate of new products launched in the market is about 39 percent.

Quality, often synonymous with value, is enough to sustain a competitive advantage in today's business environment.

Mass marketing is more appropriate in industrially advanced countries than in less advanced countries with developing economies.

Why is the 21st century appropriately called the "Century of the Consumer"?

In the 4 P's that comprise the marketing mix, product refers to:

The size of the market refers to:

Many firms in industrialized countries are focusing their attention on soliciting new customers rather than retaining their existing customers because it is usually cheaper to recruit new customers.

When marketers study the consumer environment, they would look at all of the following except:

The process of identifying a group of people similar in one or more ways is called:

Cross-cultural analysis is the comparison of similarities and differences in behavioral and physical aspects of cultures.

According to consumer research, which of the following prices would be most likely to evoke perceptions of high quality?

The less individualized the product and the larger the segment for which it is designed, the greater the likelihood that the costs to the marketer will increase.

Consumer Behavior and Consumer Research

The Consumer Decision Process

Pre-Purchase Processes: Need Recognition, Search, and Evaluation

Purchase

Post-Purchase Processes: Consumption and Post-Consumption Evaluations

Consumer Motivation

Consumer Beliefs, Feelings, Attitudes, and Intentions

Culture, Ethnicity, Social Class, Family and Household Influences

Group and Personal Influence

Making Contact

Shaping Consumers Opinions

Helping Consumers to Remember

Filters

Exam 2: Creating Marketing Strategies for Customer-Centric Organizations

Which of the following is not a variable used for segmenting consumer markets?

Other components of value, such as brand, image, price, and product features, can provide a competitive advantage in today's business environment.

Factors leading to the demise of mass marketing include:

A firm pursuing a customer-centric focus would be involved in all of the following except:

The ability to understand the inner logic and coherence of other ways of life and refrain from judging other value systems is called:

Which of the following cannot be viewed as a brand?

A thorough market analysis includes an examination of current and potential competitors.

Global advertising campaigns focus on sending the same message to consumers around the world.

The average failure rate of new products launched in the market is about 39 percent.

Quality, often synonymous with value, is enough to sustain a competitive advantage in today's business environment.

Mass marketing is more appropriate in industrially advanced countries than in less advanced countries with developing economies.

Why is the 21st century appropriately called the "Century of the Consumer"?

In the 4 P's that comprise the marketing mix, product refers to:

The size of the market refers to:

Many firms in industrialized countries are focusing their attention on soliciting new customers rather than retaining their existing customers because it is usually cheaper to recruit new customers.

When marketers study the consumer environment, they would look at all of the following except:

The process of identifying a group of people similar in one or more ways is called:

Cross-cultural analysis is the comparison of similarities and differences in behavioral and physical aspects of cultures.

According to consumer research, which of the following prices would be most likely to evoke perceptions of high quality?

The less individualized the product and the larger the segment for which it is designed, the greater the likelihood that the costs to the marketer will increase.

Consumer Behavior and Consumer Research

The Consumer Decision Process

Pre-Purchase Processes: Need Recognition, Search, and Evaluation

Purchase

Post-Purchase Processes: Consumption and Post-Consumption Evaluations

Consumer Motivation

Consumer Beliefs, Feelings, Attitudes, and Intentions

Culture, Ethnicity, Social Class, Family and Household Influences

Group and Personal Influence

Making Contact

Shaping Consumers Opinions

Helping Consumers to Remember

Filters