Unit 2 Quiz

AT&T reacted to the popularity of the cellular phone by addition several cellular models to its line of regular phones. Availability and popularity of cellular phones is most likely due to changes in the _________________ environments.
a. political cultural
b. technological and legal
c. legal and economic
d. social and technological
d. social and technological
Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:
a. GDP measures show people’s tendency to buy particular products
b. income tends to be evenly distributed among consumers in most countries
c. GDP estimates may not be very accurate in economies that include foreign manufacturing plants whose profits leave that country
d. GDP measures show the degree of competition in a market
c. GDP estimates may not be very accurate in economies that include foreign manufacturing plants whose profits leave that country
Literacy studies show that about ___________________ of the world’s population CAN read.
a. two-thirds
b. four-fifths
c. one-half
d. one-fifth
b. four-fifths
A Metropolitan Statistical Area (MSA) is:
a. an area where there has been at least a 15% change in the population during the previous 10 years
b. a city with 250,000 or more people
c. generally centered on one city or urbanized area of 50,000 or more inhabitants and includes bordering urban areas
d. a Census Bureau term that corresponds to country-by-country political boundaries
c. generally centered on one city or urbanized area of 50,000 or more inhabitants and includes bordering urban areas
U.S. “mobiles” (consumers who move):
a. generally have less money to spend than other groups
b. must make many market-oriented decisions fairly quickly after they move
c. tend to “ignore national” retailers
d. create opportunities for marketers only when a long distance move is involved
b. must make many market-oriented decisions fairly quickly after they move
Regarding changing population patterns
a. the population of the U.S. will double in about 25 years
b. nearly one half of the people move in a typical year
c. areas with rapid population growth may suffer the most attractive marketing opportunities
d. all of the above are true
c. areas with rapid population growth may offer the most attractive marketing opportunities
Given its interest in the broad-product-market for “ready-to-eat, health-conscious snack foods,” which of the following should the Good Health Foods Co. do FIRST?
a. develop a plan for getting support from middlemen
b. develop each of the four Ps at the same time
c. segment the broad product-market into a relatively homogeneous group of customers
d. determine whether to compete on a price basis
c. segment the broad product-market into a relatively homogeneous group of customers
Food R Us is considering snack-food opportunities identified three possible market segments and gave them “nicknames”: adult dieters, junk fooders, and nutrition-conscious parents. The company decides to treat adult dieters and junk fooders as separate target markets and develops a different marketing mix for each. Apparently, Food R Us is following the ___________________ target market approach.
a. single
b. combined
c. multiple
d. separate
c. multiple
Customer related dimensions
a. only relate to promotion decisions
b. are also called combiners
c. help us develop better marketing mixes
d. help us determine customer equity
c. help us develop better marketing mixes
When evaluating international markets, the marketing manager should:
a. use the same marketing strategy for all markets
b. not worry very much about segmenting because marketing concepts are not very well developed in most other economies
c. consider the whole “foreign market” as a segment
d. use broad criteria, such as geographic region or state of economic development, to define submarkets before further segmenting
d. use broad criteria, such as geographic region or state of economic development, to define submarkets before further segmenting
“Positioning”:
a. is about getting the best possible shelf space for products in retail outlets
b. is useful for segmenting but not combining
c. helps strategy planners understand how customers think about various brands or products in relation to each other
d. applies only to existing products, not new products
c. helps strategy planners understand how customers think about various brands or products in relation to each other
Which of the following is MOST LIKELY to be a DETERMINING dimension with respect to purchase of a particular brand of coffee?
a. taste
b. income
c. age
d. gender
a. taste
Which of the following objectives of a business is the most important?
a. to engage in some specific business activity that will perform a socially and economically useful function
b. to develop an organization to carry on the business and implement its strategies
c. to earn enough profit to survive
d. all three of the above are equally important, because a failure in any one could lead to a total failure of the business
d. all three of the above are equally important, because a failure in any one could lead to a total failure of the business
Which of the following U.S. marketing managers is about to make a serious mistake?
a. “We are targeting the preschool age group, since that group is growing faster than ever before.”
b. “We are refocusing on senior citizens, since they will be a growing market for many years.”
c. “We are developing special swimsuit designs for older women as that market is very large and growing.”
d. “Our company is diversifying and going into the senior healthcare industry.”
a. “We are targeting the preschool age group, since that group is growing faster than ever before.”
A “market” consists of:
a. customers who are willing to exchange something of value
b. a group of potential customers with similar needs
c. sellers offering various ways of satisfying customer needs
d. all of the above
d. all of the above
A marketing manager in a large corporation wrote the company’s president a memo in which she said: “The performance of our SUB has improved.” An “SBU” is a:
a. struggling business unit
b. small business unit
c. selective branding unit
d. strategic business unit
d. strategic business unit
A firm’s “relevant market for finding opportunities” should:
a. be limited to products the firm already produces
b. be bigger than the fir’s present product-market – but not so big that the firm could not be an important competitor
c. have no geographic boundaries
d. be as large as possible
b. be bigger than the firm’s present product-market – but not so big that the firm could not be an important competitor
Which of the following is the BEST example of a “generic market?”
a. the entertainment market
b. the designer shoes market
c. the frozen yogurt market
d. the minivan market
a. the entertainment market
The first and most important criteria to analyze when evaluating product-market opportunities is:
a. “How does it fit with our objectives and resources?”
b. “What is the sales forecast for this product?”
c. “How much profit will we make this year?”
d. “How much do we need to invest in this product?”
a. “How does it fit with our objectives and resources?”