CH 10 HW

The 4Cs of marketing include all the following except:

a. choice
b. communities
c. continuity
d. cocreation

c. continuity

From Product……..to Cocreated
From Promotion…..to Communities
From Price…………to Customizable
From Place…………to Choice

The 4Ps of marketing include all the following except:

a. promotion
b. principle
c. price
d. product

b. principle
A market is

a. a group of consumers who have purchasing power and unsatisfied needs.
b. a way of gaining consumer data.
c. a segment of the economy.
d. a group of known purchasers.

a group of consumers who have purchasing power and unsatisfied needs.
All of the following techniques are used in gathering primary data except

a. observational methods
b. experimentation
c. analysis of financial records
d. surveys

analysis of financial records
Secondary data consists of

a. existing information.
b. newly developed primary research.
c. internal data only.
d. external data only.

existing information.
When developing a survey, you should consider

a. giving concise but incomplete instructions.
b. including questions only pertaining to the study.
c. the personality of the respondents.
d. ask leading and biased questions.

including questions only pertaining to the study.
Inhibitors to marketing research include all of the following except:

a. distribution
b. cost
c. irrelevancy
d. complexity

distribution
The textbook recommends that social media marketers consider three aspects of social media when using social media tools for marketing purposes. What are they?

a. resource management, context, and content
b. cost, complexity, and relevancy
c. control, contribution, and distribution
d. creating something of value, enabling customer promotion, and encouraging participation

creating something of value, enabling customer promotion, and encouraging participation
Of the following, which is not associated with entrepreneurial tactics in market research?

a. in-person interviews
b. blog monitoring
c. guerrilla marketing
d. lead user research

in-person interviews
Market segmentation is

a. the process of segmenting the sales force
b. the process of categorizing products into different segments
c. heavily psychographic in nature
d. the process of identifying a specific set of characteristics that differentiate one group of consumers from the rest

the process of identifying a specific set of characteristics that differentiate one group of consumers from the rest
Of the following, which does the textbook identify as critical to the marketing planning process?

a. marketing myopia
b. market niche
c. marketing research
d. market segmentation

marketing research
What is meant by pricing for the life cycle?

a. that pricing needs to be adjusted at each stage in a product’s life cycle
b. that pricing of new products needs to start out low and end high
c. that pricing of new products needs to start out high and end low
d. that pricing needs to be increased at each stage in a product’s life cycle

that pricing needs to be adjusted at each stage in a product’s life cycle
What is penetration pricing?

a. setting price to match the competition
b. setting price to switch customers to new product lines
c. setting price to maximize market share
d. setting price to maximize profit

setting price to maximize market share
What is skimming?

a. setting price to switch customers to new product lines
b. setting price to match the competition
c. setting price to maximize market share
d. setting price to maximize profit

setting price to maximize profit
Of the following pricing models, which is not indicative of pricing in the social media age?

a. the growth stage model
b. the affiliate model
c. the freemium model
d. the subscription model

the growth stage model
T/F
In the marketing shift from the 4Ps to the 4Cs, price shifts to choice and promotion shifts to communities.
T
T/F
Marketing research involves the gathering of information about a particular market, followed by analysis of the information.
T
T/F
Marketing information that has already been compiled is known as secondary data.
T
T/F
It is usually more expensive to gather secondary data than primary data.
F
T/F
Only major strategic decisions need to be supported through marketing research.
F
T/F
Social media marketing is the application of online collaborative media for marketing purposes.
F
T/F
Mobile social media applications can be differentiated based on location-sensitivity as well as on time-sensitivity.
F
T/F
Pricing procedures are the same for all types of ventures.
F
T/F
Pricing in the social media age is sometimes based on a model that offers basic levels of service for free.
T
T/F
Skimming is setting prices at such a low level that products are sold at a loss.
F
Market Segmentation
The process of identifying a specific set of characteristics that differentiate one group of consumers from the rest.

1. Demographic variables = Age, marital status, sex, occupation, income, and location
2. Benefit variables = Convenience, cost, style, trends (depending on the nature of the particular new venture)

Pricing strategies
Factors affecting the pricing decision:

The degree of competitive pressure
The availability of sufficient supply
Seasonal or cyclical changes in demand
Distribution costs
The product’s life-cycle stage
Changes in production costs
Prevailing economic conditions
Customer services provided by the seller
The amount of promotion
The market’s buying power