Question 1

Unlike most consumers,organizational buyers are professional,specialized,and expert.

Accepted Answer

A) True 
 B)False

Question 2

Conveyors,coal,transistors,steel,and wheat are examples of

Accepted Answer

A)  industrial goods. 
B)  consumer goods. 
C)  company goods. 
D)  production goods. 
E)  market goods. 
A)  industrial goods. 
B)  consumer goods. 
C)  company goods. 
D)  production goods. 
E)  market goods.

Question 3

Based on a product review in a magazine,Rob decided on which product to buy.He is demonstrating the impact of

Accepted Answer

A)  psychological influences. 
B)  cultural influences. 
C)  past experience influences. 
D)  social influences. 
E)  personal influences. 
A)  psychological influences. 
B)  cultural influences. 
C)  past experience influences. 
D)  social influences. 
E)  personal influences.

Question 4

What is market segmentation and why is it important?

Accepted Answer

The process of dividing a mark

Question 5

Segmentation must be done carefully,as 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 6

Jennifer has recently bought two pairs of shoes.One pair was for casual wear and the other was for jogging.Jennifer bought these shoes on the basis of which segmentation variable?

Accepted Answer

A)  Level of income 
B)  Demographic 
C)  Geographic 
D)  Product-use 
E)  Psychographic 
A)  Level of income 
B)  Demographic 
C)  Geographic 
D)  Product-use 
E)  Psychographic

Question 7

Marketing of insurance,airlines,investment counsellors,and health clinics are examples of

Accepted Answer

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

Question 8

When consumer characteristics such as life styles,opinions,interests,and attitudes are used,which basis of segmentation is evident?

Accepted Answer

A)  Geographic 
B)  Psychographic 
C)  Product positioning 
D)  Demographic 
E)  Product-use 
A)  Geographic 
B)  Psychographic 
C)  Product positioning 
D)  Demographic 
E)  Product-use

Question 9

A consumer who is dissatisfied with a product the first time it is used will normally try the product one more time (but only one more time)to give it another chance.

Accepted Answer

A) True 
 B)False

Question 10

With respect to the 4 Ps,"price" refers only to the actual amount of money that consumers must pay for a product or service.

Accepted Answer

A) True 
 B)False

Question 11

A restaurant like Olive Garden is classified as a "pure" service.

Accepted Answer

A) True 
 B)False

Question 12

Assume that you went to a shopping mall to determine peoples' 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 13

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 14

The ________ philosophy says that the entire firm is coordinated to serve its present and potential customers at a profit.

Accepted Answer

A)  marketing concept 
B)  marketing functions 
C)  marketing mix 
D)  product mix 
E)  marketing research 
A)  marketing concept 
B)  marketing functions 
C)  marketing mix 
D)  product mix 
E)  marketing research

Question 15

A moderator-led group discussion about a product or service is called ________.

Accepted Answer

A)  psychoanalysis 
B)  experimentation 
C)  a focus group 
D)  video mining 
E)  observation 
A)  psychoanalysis 
B)  experimentation 
C)  a focus group 
D)  video mining 
E)  observation

Question 16

Which of the following is correct with regard to the elements in the marketing mix?

Accepted Answer

A)  Of the four elements,"product" is generally the least important. 
B)  The elements are all equally important,regardless of the product being sold. 
C)  Price plays a small role in fresh meat,but a relatively larger role in selling newspapers. 
D)  Distribution is not very important in marketing gasoline,but it is important for lumber. 
E)  Promotion is vital in selling toys,but much less important in selling nails. 
A)  Of the four elements,"product" is generally the least important. 
B)  The elements are all equally important,regardless of the product being sold. 
C)  Price plays a small role in fresh meat,but a relatively larger role in selling newspapers. 
D)  Distribution is not very important in marketing gasoline,but it is important for lumber. 
E)  Promotion is vital in selling toys,but much less important in selling nails.

Question 17

Rondell Corp.is involved in a market research project.They have already studied the current situation to discover customer needs and what is being done to meet those needs.What should they do next?

Accepted Answer

A)  Collect data 
B)  Select a research method 
C)  Analyze the data 
D)  Conduct a focus group 
E)  Prepare a report 
A)  Collect data 
B)  Select a research method 
C)  Analyze the data 
D)  Conduct a focus group 
E)  Prepare a report

Question 18

________ is segmentation by such traits as age,income,gender,ethnicity,and marital status.

Accepted Answer

A)  Random selection 
B)  Demographics 
C)  Psychographics 
D)  Product-use 
E)  Geographics 
A)  Random selection 
B)  Demographics 
C)  Psychographics 
D)  Product-use 
E)  Geographics

Question 19

Some products can be sold abroad with virtually no changes.Which of the following products does require adaptations before it can be sold abroad?

Accepted Answer

A)  Cigarettes 
B)  Electric shavers 
C)  Foreign beer 
D)  Soft drinks 
E)  Domestic beer 
A)  Cigarettes 
B)  Electric shavers 
C)  Foreign beer 
D)  Soft drinks 
E)  Domestic beer

Question 20

The process of dividing a market into categories of customers by age is called

Accepted Answer

A)  product-use market segmentation. 
B)  relationship marketing. 
C)  geographic market segmentation. 
D)  psychographic market segmentation. 
E)  demographic market segmentation. 
A)  product-use market segmentation. 
B)  relationship marketing. 
C)  geographic market segmentation. 
D)  psychographic market segmentation. 
E)  demographic market segmentation.

Unlike most consumers,organizational buyers are professional,specialized,and expert.

Conveyors,coal,transistors,steel,and wheat are examples of

Based on a product review in a magazine,Rob decided on which product to buy.He is demonstrating the impact of

What is market segmentation and why is it important?

Segmentation must be done carefully,as a group of people may share an age category,income,level,or some other segmentation variable but their spending habits may be quite different.

Jennifer has recently bought two pairs of shoes.One pair was for casual wear and the other was for jogging.Jennifer bought these shoes on the basis of which segmentation variable?

Marketing of insurance,airlines,investment counsellors,and health clinics are examples of

When consumer characteristics such as life styles,opinions,interests,and attitudes are used,which basis of segmentation is evident?

A consumer who is dissatisfied with a product the first time it is used will normally try the product one more time (but only one more time)to give it another chance.

With respect to the 4 Ps,"price" refers only to the actual amount of money that consumers must pay for a product or service.

A restaurant like Olive Garden is classified as a "pure" service.

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

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

The ________ philosophy says that the entire firm is coordinated to serve its present and potential customers at a profit.

A moderator-led group discussion about a product or service is called ________.

Which of the following is correct with regard to the elements in the marketing mix?

Rondell Corp.is involved in a market research project.They have already studied the current situation to discover customer needs and what is being done to meet those needs.What should they do next?

________ is segmentation by such traits as age,income,gender,ethnicity,and marital status.

Some products can be sold abroad with virtually no changes.Which of the following products does require adaptations before it can be sold abroad?

The process of dividing a market into categories of customers by age is called

Understanding the Canadian Business System

Understanding the Environments of Business

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Developing and Promoting Goods and Services

Pricing and Distributing Goods and Services

Understanding Money and Banking

Understanding Securities and Investments

Financial Decisions and Risk Management

Filters

Exam 15: Understanding Marketing Processes and Consumer Behaviour

Unlike most consumers,organizational buyers are professional,specialized,and expert.

Conveyors,coal,transistors,steel,and wheat are examples of

Based on a product review in a magazine,Rob decided on which product to buy.He is demonstrating the impact of

What is market segmentation and why is it important?

Segmentation must be done carefully,as a group of people may share an age category,income,level,or some other segmentation variable but their spending habits may be quite different.

Jennifer has recently bought two pairs of shoes.One pair was for casual wear and the other was for jogging.Jennifer bought these shoes on the basis of which segmentation variable?

Marketing of insurance,airlines,investment counsellors,and health clinics are examples of

When consumer characteristics such as life styles,opinions,interests,and attitudes are used,which basis of segmentation is evident?

A consumer who is dissatisfied with a product the first time it is used will normally try the product one more time (but only one more time)to give it another chance.

With respect to the 4 Ps,"price" refers only to the actual amount of money that consumers must pay for a product or service.

A restaurant like Olive Garden is classified as a "pure" service.

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

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

The ________ philosophy says that the entire firm is coordinated to serve its present and potential customers at a profit.

A moderator-led group discussion about a product or service is called ________.

Which of the following is correct with regard to the elements in the marketing mix?

Rondell Corp.is involved in a market research project.They have already studied the current situation to discover customer needs and what is being done to meet those needs.What should they do next?

________ is segmentation by such traits as age,income,gender,ethnicity,and marital status.

Some products can be sold abroad with virtually no changes.Which of the following products does require adaptations before it can be sold abroad?

The process of dividing a market into categories of customers by age is called

Understanding the Canadian Business System

Understanding the Environments of Business

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Developing and Promoting Goods and Services

Pricing and Distributing Goods and Services

Understanding Money and Banking

Understanding Securities and Investments

Financial Decisions and Risk Management

Filters