Question 1

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.

Question 2

An individual's motivations, perceptions, ability to learn, and attitudes are part of which influence on consumer behaviour?

Accepted Answer

A)  Personal 
B)  Social 
C)  Cultural 
D)  Past experience 
E)  Psychological 
A)  Personal 
B)  Social 
C)  Cultural 
D)  Past experience 
E)  Psychological

Question 3

If you are in the market for a new set of skis, you probably have some idea of who provides the best skis and how they differ. You may have accumulated some of this knowledge during the information-seeking stage and combined it with what you knew before. The next stage for you is to

Accepted Answer

A)  evaluate alternatives. 
B)  seek information. 
C)  buy a new pair of skis. 
D)  recognize the problem. 
E)  evaluate post-purchase. 
A)  evaluate alternatives. 
B)  seek information. 
C)  buy a new pair of skis. 
D)  recognize the problem. 
E)  evaluate post-purchase.

Question 4

What is the benefit of an integrated marketing strategy?

Accepted Answer

An integrated marketing strate

Question 5

A chef visits the produce market each morning to select fruits and vegetables for use in her restaurant's soups and salads. Explain whether the chef is buying production items or expense items.

Accepted Answer

The chef is buying production

Question 6

A car like the Ford Focus tends to be positioned on the basis of economy, while a Porsche tends to be positioned on the basis of performance.

Accepted Answer

A) True 
 B)False

Question 7

When a company with a well-known brand sells another company the right to place that brand on its products, these are called private brands (e.g., the Harley-Davidson logo on gloves).

Accepted Answer

A) True 
 B)False

Question 8

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 9

DVD Heaven sells new and used DVDs, particularly to university and college students in large Canadian cities. It plans to expand its business online, hoping to increase sales by offering a more convenient means of ordering for busy college students. The president of DVD Heaven has been talking to several other business owners, and now expresses some concerns over developing the e-commerce side of the business. The vice-president argues that it is essential for continued growth, but the president argues that there are too many consumer concerns.
Which of the following statements, if true, would not support the argument being made by the president regarding consumer concerns?

Accepted Answer

A)  Fraudulent businesses are being set up and run on the Internet. Many consumers would rather enter a building that houses a business they know really exists. 
B)  Identity theft and the theft of credit card numbers can occur when ordering online. 
C)  Privacy can be compromised on the Internet, and unethical e-businesses can track or sell sensitive information such as buying patterns. 
D)  College students are five times more likely to order over the Internet than older adults. 
E)  Customers like to see and feel products before ordering them. 
A)  Fraudulent businesses are being set up and run on the Internet. Many consumers would rather enter a building that houses a business they know really exists. 
B)  Identity theft and the theft of credit card numbers can occur when ordering online. 
C)  Privacy can be compromised on the Internet, and unethical e-businesses can track or sell sensitive information such as buying patterns. 
D)  College students are five times more likely to order over the Internet than older adults. 
E)  Customers like to see and feel products before ordering them.

Question 10

What is product placement? Why is it popular with marketing managers?

Accepted Answer

Product placement is a promotional tacti

Question 11

You and your spouse decide that the sports car you currently own is not going to be suitable for travelling with your new baby, Amy. You are in what stage of the consumer buying process?

Accepted Answer

A)  Purchase decision 
B)  Post-purchase evaluation 
C)  Problem recognition 
D)  Information seeking 
E)  Evaluation of alternatives 
A)  Purchase decision 
B)  Post-purchase evaluation 
C)  Problem recognition 
D)  Information seeking 
E)  Evaluation of alternatives

Question 12

Campbell's Soup has discovered that millennials are buying less soup than the population as a whole. This is an illustration of the importance of demographic variables in marketing.

Accepted Answer

A) True 
 B)False

Question 13

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

Question 14

List the seven steps in the new product development process.

Accepted Answer

Product ideas, screening, conc

Question 15

What is the ratio for value?

Accepted Answer

Value = be

Question 16

Needing some new clothes, you ask one of your co-workers where he shops. That evening you check the newspapers for sales. You are 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

Black & Decker makes toasters, vacuum cleaners, electric drills, and a variety of other appliances and tools. This is Black & Decker's

Accepted Answer

A)  product blend. 
B)  product offering. 
C)  product mix. 
D)  product line. 
E)  multiple product lines. 
A)  product blend. 
B)  product offering. 
C)  product mix. 
D)  product line. 
E)  multiple product lines.

Question 18

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 19

When marketers segment markets based on demographics, they are doing so on the basis of "quantitative" factors like age, education, family size, and income, but not on the basis of "qualitative" factors like nationality, race, and religion.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is true with regard to the concept of the value package?

Accepted Answer

A)  The physical characteristics of the product are the primary focus for the consumer. 
B)  The price of the product is the primary focus of the consumer. 
C)  The value package includes both tangible and intangible attributes of the product. 
D)  The value package cannot be high if the price of the product is high. 
E)  The value package concept applies to physical products, but not intangible services. 
A)  The physical characteristics of the product are the primary focus for the consumer. 
B)  The price of the product is the primary focus of the consumer. 
C)  The value package includes both tangible and intangible attributes of the product. 
D)  The value package cannot be high if the price of the product is high. 
E)  The value package concept applies to physical products, but not intangible services.

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

An individual's motivations, perceptions, ability to learn, and attitudes are part of which influence on consumer behaviour?

If you are in the market for a new set of skis, you probably have some idea of who provides the best skis and how they differ. You may have accumulated some of this knowledge during the information-seeking stage and combined it with what you knew before. The next stage for you is to

What is the benefit of an integrated marketing strategy?

A chef visits the produce market each morning to select fruits and vegetables for use in her restaurant's soups and salads. Explain whether the chef is buying production items or expense items.

A car like the Ford Focus tends to be positioned on the basis of economy, while a Porsche tends to be positioned on the basis of performance.

When a company with a well-known brand sells another company the right to place that brand on its products, these are called private brands (e.g., the Harley-Davidson logo on gloves).

Why are businesses interested in the development of new products?

What is product placement? Why is it popular with marketing managers?

You and your spouse decide that the sports car you currently own is not going to be suitable for travelling with your new baby, Amy. You are in what stage of the consumer buying process?

Campbell's Soup has discovered that millennials are buying less soup than the population as a whole. This is an illustration of the importance of demographic variables in marketing.

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?

List the seven steps in the new product development process.

What is the ratio for value?

Needing some new clothes, you ask one of your co-workers where he shops. That evening you check the newspapers for sales. You are in the ________ stage of the consumer buying process.

Black & Decker makes toasters, vacuum cleaners, electric drills, and a variety of other appliances and tools. This is Black & Decker's

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

When marketers segment markets based on demographics, they are doing so on the basis of "quantitative" factors like age, education, family size, and income, but not on the basis of "qualitative" factors like nationality, race, and religion.

Which of the following is true with regard to the concept of the value package?

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, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

Filters

Exam 12: Understanding Marketing Principles and Developing Products

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

An individual's motivations, perceptions, ability to learn, and attitudes are part of which influence on consumer behaviour?

If you are in the market for a new set of skis, you probably have some idea of who provides the best skis and how they differ. You may have accumulated some of this knowledge during the information-seeking stage and combined it with what you knew before. The next stage for you is to

What is the benefit of an integrated marketing strategy?

A chef visits the produce market each morning to select fruits and vegetables for use in her restaurant's soups and salads. Explain whether the chef is buying production items or expense items.

A car like the Ford Focus tends to be positioned on the basis of economy, while a Porsche tends to be positioned on the basis of performance.

When a company with a well-known brand sells another company the right to place that brand on its products, these are called private brands (e.g., the Harley-Davidson logo on gloves).

Why are businesses interested in the development of new products?

What is product placement? Why is it popular with marketing managers?

You and your spouse decide that the sports car you currently own is not going to be suitable for travelling with your new baby, Amy. You are in what stage of the consumer buying process?

Campbell's Soup has discovered that millennials are buying less soup than the population as a whole. This is an illustration of the importance of demographic variables in marketing.

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?

List the seven steps in the new product development process.

What is the ratio for value?

Needing some new clothes, you ask one of your co-workers where he shops. That evening you check the newspapers for sales. You are in the ________ stage of the consumer buying process.

Black & Decker makes toasters, vacuum cleaners, electric drills, and a variety of other appliances and tools. This is Black & Decker's

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

When marketers segment markets based on demographics, they are doing so on the basis of "quantitative" factors like age, education, family size, and income, but not on the basis of "qualitative" factors like nationality, race, and religion.

Which of the following is true with regard to the concept of the value package?

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, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

Filters