Question 1

The best segmentation for small drug stores or dry cleaners would be

Accepted Answer

A)  geographic. 
B)  demographic. 
C)  geo-demographic. 
D)  product use. 
E)  psychographic. 
A)  geographic. 
B)  demographic. 
C)  geo-demographic. 
D)  product use. 
E)  psychographic.

Question 2

Product X is just beginning to generate a profit for the first time as the manufacturer lowers prices slightly and sees a significant increase in sales. At what stage in the product life cycle is Product X?

Accepted Answer

It is entering the growth stag

Question 3

A few marketing powerhouses like Coca-Cola and Procter & Gamble can develop their marketing strategies without too much concern about the external marketing environment, but most companies must pay a lot of attention to the external marketing environment.

Accepted Answer

A) True 
 B)False

Question 4

Sherrie wants to complete a research project; unfortunately, she has no idea where to begin. You advise her to begin by

Accepted Answer

A)  designing a questionnaire. 
B)  collecting data. 
C)  selecting a research method. 
D)  studying the current situation. 
E)  analyzing data. 
A)  designing a questionnaire. 
B)  collecting data. 
C)  selecting a research method. 
D)  studying the current situation. 
E)  analyzing data.

Question 5

Companies in Poland have succeeded in overcoming consumer resistance to credit by promoting the safety and desirability of using credit rather than depending solely on cash. This is an example of the use of a ________ variable in market segmentation.

Accepted Answer

A)  level of income 
B)  demographic 
C)  geographic 
D)  behavioural segmentation 
E)  psychographic 
A)  level of income 
B)  demographic 
C)  geographic 
D)  behavioural segmentation 
E)  psychographic

Question 6

New developments in technology have had a big impact on the production area of a business, but much less impact on the marketing area.

Accepted Answer

A) True 
 B)False

Question 7

Diana is going to be married soon, and she is shopping around for a wedding gown. For Diana, a wedding gown is a shopping good.

Accepted Answer

A) True 
 B)False

Question 8

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 9

Mirror Corp. has just completed the "screening" phase of the new product development process. What should they do next?

Accepted Answer

A)  Use input from the concept-testing phase to produce a preliminary version of the product 
B)  Conduct market research to solicit consumers' input about the benefits the proposed product must provide for consumers 
C)  Eliminate all product ideas that do not mesh with the firm's abilities, expertise, or objectives 
D)  Begin limited production of the product 
A)  Use input from the concept-testing phase to produce a preliminary version of the product 
B)  Conduct market research to solicit consumers' input about the benefits the proposed product must provide for consumers 
C)  Eliminate all product ideas that do not mesh with the firm's abilities, expertise, or objectives 
D)  Begin limited production of the product

Question 10

The President's Choice brand (Loblaws Companies Ltd.) and the Life brand (Shoppers Drug Mart) are examples of private brands.

Accepted Answer

A) True 
 B)False

Question 11

Martin has had a successful career in retail sales, industrial sales, and public relations. He applies for the job of director for marketing at Panther Shoes, a manufacturer of athletic apparel. Martin is not sure if Panther Shoes is selling consumer or industrial products. Can you help Martin clarify the difference between the two types of products?

Accepted Answer

It is possible that Panther Shoes is sel

Question 12

________ is the process of planning and executing the development, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

Accepted Answer

A)  Promotion 
B)  Relationship marketing 
C)  Marketing 
D)  Market strategy 
E)  Market segmentation 
A)  Promotion 
B)  Relationship marketing 
C)  Marketing 
D)  Market strategy 
E)  Market segmentation

Question 13

The marketing plan identifies the marketing objectives stating what marketing will accomplish in the future.

Accepted Answer

A) True 
 B)False

Question 14

Dinasonic manufactures and markets consumer kitchen products. The company is preparing to introduce its products to international markets. The company's director of marketing wants the company to adapt its marketing approach to the various markets in different countries that the company is looking to enter. He needs to defend the proposal for his recommended marketing strategy to the rest of the executive team. The director of marketing argues that Dinasonic's products will need to be adapted to local markets to fit the standard of living in other countries. Which of the following, if true, would strengthen this position?

Accepted Answer

A)  Dinasonic plans to enter only markets in advanced economies. 
B)  Dinasonic has some of the best marketing talent in the industry. 
C)  Dinasonic's manufacturing processes are very cost-effective. 
D)  None of Dinasonic's major competitors will be entering the same markets Dinasonic will. 
E)  Many consumers in developing economies would not be able to afford Dinasonic's products. 
A)  Dinasonic plans to enter only markets in advanced economies. 
B)  Dinasonic has some of the best marketing talent in the industry. 
C)  Dinasonic's manufacturing processes are very cost-effective. 
D)  None of Dinasonic's major competitors will be entering the same markets Dinasonic will. 
E)  Many consumers in developing economies would not be able to afford Dinasonic's products.

Question 15

Which of the following is correct regarding the product mix and product line concepts?

Accepted Answer

A)  A product line is broader than a product mix. 
B)  The product mix refers to the group of products a company has available for sale. 
C)  The product line concept applies to physical products, while the product mix concept applies only to services. 
D)  A product line focuses on convenience goods, while a product mix focuses on shopping goods. 
E)  A product line is almost always more expensive than a product mix. 
A)  A product line is broader than a product mix. 
B)  The product mix refers to the group of products a company has available for sale. 
C)  The product line concept applies to physical products, while the product mix concept applies only to services. 
D)  A product line focuses on convenience goods, while a product mix focuses on shopping goods. 
E)  A product line is almost always more expensive than a product mix.

Question 16

ComicalYou is a new social media service in which participants create avatars to represent themselves, describe their lives, and interact with one another. All the postings are graphical, presenting the messages in the form of comic panels and strips. The service's software easily converts ideas into whimsical images. The site's creators, Ginny and RJ, believe that ComicalYou will be especially appealing to young people because it is so effective in conveying emotional content with a lighthearted appeal. They, along with a team of six employees, have completed the software, tested it on two dozen of their closest friends, and are eager to open up their site to users. As ComicalYou reaches the introduction stage of the product life cycle, what marketing strategy is most appropriate?

Accepted Answer

A)  Lower price slightly to increase sales. 
B)  Focus on making customers aware of the product and its benefits. 
C)  Cut prices in response to increased competition. 
D)  Increase advertising in response to greater competition. 
E)  Develop product adaptations to extend the product's life. 
A)  Lower price slightly to increase sales. 
B)  Focus on making customers aware of the product and its benefits. 
C)  Cut prices in response to increased competition. 
D)  Increase advertising in response to greater competition. 
E)  Develop product adaptations to extend the product's life.

Question 17

Advertising to make people more aware of the hazards of drinking and driving is an example of

Accepted Answer

A)  industrial marketing. 
B)  relationship marketing. 
C)  service marketing. 
D)  idea marketing. 
E)  consumer marketing. 
A)  industrial marketing. 
B)  relationship marketing. 
C)  service marketing. 
D)  idea marketing. 
E)  consumer marketing.

Question 18

Secondary data are generally more useful than primary data because secondary data are more voluminous, more readily available, and cheaper to obtain.

Accepted Answer

A) True 
 B)False

Question 19

Explain how each of the main factors in the external environment of a business affects how marketing is carried out.

Accepted Answer

- Economic factors: Economic conditions

Question 20

In terms of the 4 P's, market research is useful for the product, price, and promotion aspects, but not very useful for the distribution aspect.

Accepted Answer

A) True 
 B)False

The best segmentation for small drug stores or dry cleaners would be

Product X is just beginning to generate a profit for the first time as the manufacturer lowers prices slightly and sees a significant increase in sales. At what stage in the product life cycle is Product X?

A few marketing powerhouses like Coca-Cola and Procter & Gamble can develop their marketing strategies without too much concern about the external marketing environment, but most companies must pay a lot of attention to the external marketing environment.

Sherrie wants to complete a research project; unfortunately, she has no idea where to begin. You advise her to begin by

Companies in Poland have succeeded in overcoming consumer resistance to credit by promoting the safety and desirability of using credit rather than depending solely on cash. This is an example of the use of a ________ variable in market segmentation.

New developments in technology have had a big impact on the production area of a business, but much less impact on the marketing area.

Diana is going to be married soon, and she is shopping around for a wedding gown. For Diana, a wedding gown is a shopping good.

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

Mirror Corp. has just completed the "screening" phase of the new product development process. What should they do next?

The President's Choice brand (Loblaws Companies Ltd.) and the Life brand (Shoppers Drug Mart) are examples of private brands.

________ is the process of planning and executing the development, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

The marketing plan identifies the marketing objectives stating what marketing will accomplish in the future.

Which of the following is correct regarding the product mix and product line concepts?

Advertising to make people more aware of the hazards of drinking and driving is an example of

Secondary data are generally more useful than primary data because secondary data are more voluminous, more readily available, and cheaper to obtain.

Explain how each of the main factors in the external environment of a business affects how marketing is carried out.

In terms of the 4 P's, market research is useful for the product, price, and promotion aspects, but not very useful for the distribution aspect.

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

The best segmentation for small drug stores or dry cleaners would be

Product X is just beginning to generate a profit for the first time as the manufacturer lowers prices slightly and sees a significant increase in sales. At what stage in the product life cycle is Product X?

A few marketing powerhouses like Coca-Cola and Procter & Gamble can develop their marketing strategies without too much concern about the external marketing environment, but most companies must pay a lot of attention to the external marketing environment.

Sherrie wants to complete a research project; unfortunately, she has no idea where to begin. You advise her to begin by

Companies in Poland have succeeded in overcoming consumer resistance to credit by promoting the safety and desirability of using credit rather than depending solely on cash. This is an example of the use of a ________ variable in market segmentation.

New developments in technology have had a big impact on the production area of a business, but much less impact on the marketing area.

Diana is going to be married soon, and she is shopping around for a wedding gown. For Diana, a wedding gown is a shopping good.

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

Mirror Corp. has just completed the "screening" phase of the new product development process. What should they do next?

The President's Choice brand (Loblaws Companies Ltd.) and the Life brand (Shoppers Drug Mart) are examples of private brands.

________ is the process of planning and executing the development, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

The marketing plan identifies the marketing objectives stating what marketing will accomplish in the future.

Which of the following is correct regarding the product mix and product line concepts?

Advertising to make people more aware of the hazards of drinking and driving is an example of

Secondary data are generally more useful than primary data because secondary data are more voluminous, more readily available, and cheaper to obtain.

Explain how each of the main factors in the external environment of a business affects how marketing is carried out.

In terms of the 4 P's, market research is useful for the product, price, and promotion aspects, but not very useful for the distribution aspect.

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