Marketing Revision
Marketing mix planning begins with
Building an offering that brings value to target customers
Setting a reasonable price for the product
Finding a suitable promotion strategy for the product
Selecting the right channel for distribution of the product
When McDonald's targets children, teens, adults, and seniors with different ads and media, it is practicing ___________segmentation.
Usage rate
Psychographic
Age and life-cycle
Behavioural
_______ involves gathering primary data by asking people questions about their knowledge, attitudes, preferences, or buying behaviour. It is the most widely used method for primary data collection.
Exploratory research
Ethnographic research
Survey research
Causal research
What does the term 'diffusion of innovation' mean?
It refers to the types of consumers and the speed with which these consumers can be enticed to utilise or try a product.
It is a term used to describe the positioning of products.
It refers to the extent to which an organisation's culture promotes innovation.
It refers to the length of time it takes for new ideas to be accpeted and acted upon within the organisation.
There are many areas of external influences that affect pricing decisions. Which of the following is NOT one of these areas of external influences?
Legal and regulatory factors
Competitors
Demand and price elasticity
Organisational objectives
People cannot focus on all of the stimuli that surround them each day. A person's tendency to screen out most of the information to which he is exposed is called _____.
Selective distortion
Selective attention
Cognitive inertia
Cognitive dissonance
Because practically all marketers provide some services, ______ typically do not exist in today's business environment.
Pure goods
Pure services
Customer services
Tangible-dominant products
Conflict which occurs among firms at the same level of the marketing channel is known as ______ conflict.
Equilateral
Vertical
Horizontal
Exterior
Chronos pls designs and markets different brands of cycling watches. Each brand has a single unique feature: the Chronos Cosmos has a heart rate monitor, the Chronos Acumen is designed for older cyclists who prefer a large display, and the Chronos Agelis has a GPS function. Which of the following is evident here?
Service differentiation
Image differentiation
Product differentiation
Channel differentiation
Which of the following statments is true of test marketing?
When the costs of developing and introducing the product are low, the company will have to do significant test marketing
The amount of test marketing needed remains constant for each new product
Test marketing costs can be high, and it takes time that may allow competitors to gain advantages
Test marketing is seldom done on products that are risky
Customers who have low involement in the decision-making process are much more likely to:
Choose the cheapest option
Not care about the quality of the product
Take a long time to make their decisions as they are not really engaged in it
Use non-verbal cues to help them make their decision
Which of the following companies use product bundle pricing?
HP, which launched a range of laptop models, each price according to its features
Photo genie, which sells inexpensive cameras that run only on their own, expensive, batteries
Green thumb, which gives away free watering cans with the purchase of certain potted plants
Panizza, whose combo meals are prices lower than its individual components sold together
A brand name is part of the:
Core product
Augmented product
Actual product
Core features of the product
When viewing the market from a buyer's point of view, "convenience" corresponds to ______ in the four Ps according to the seller's point of view.
Promotion
Place
People
Product
A direct-response information form found in a magazine advertisement that allows customers to send for more information has a primary objective of _______.
Encouraging product trial
Stimulation demand
Creating awareness
Identifying prospects
The last group to adopt a new product, _____, is oriented toward the past and is suspicious of new products.
Non-adopters
Laggards
Late adopters
Late majority
Within the Product Life Cycle concept, when will the numbers of new customers entering a market start to decrease?
Introduction
Growth
Maturity
Decline
The characteristic of a service whereby it cannot be seen, tasted, felt, heard, or smelled before being bought is called:
Intangibility
Inseparability
Variability
Perishability
Which of the following support a 'repositioning' strategy?
Increase advertising speed
Expand the product line
Increase prices to increase quality perceptions
Minimise costs to maximise profits
In an effort to differentiate its offerings from its competitors, Dell Computers decided to add an extra USB port in all its laptops besides providing a free pair of Delphi power bass headphones with every Dell laptop. Although the additional features increased the price of the laptops by $100, Dell was confident that the strategy would help boost demand for its laptops substantially. This is an example of _________.
Cost-based pricing
Break-even pricing
Good-value pricing
Value-added pricing
When Minute Maid mailed out free samples of its new intant drink mix, it was trying to move prospective customers into the _____ stage of the product adoption process.
Awareness
Evaluation
Trial
Adoption
Which of the following is/ are part of the company's internal operating environment?
Cultural forces
Staff
Competitor activity
Management
Which of the following criticisims may be made of the Product Life Cycle?
It does not provide a framework for considering product strategy decisions
It does not provide a stimulus for the new product development
It does not take into account the impact of marketing activity on sales and profits
It does not help us to manage an individual product over time
The increasing use of market segmentation, targeted marketing and product specialisation has resulted in a greater need for:
Specialty stores
Convenience stores
Shopping goods stores
Department stores
Marketers must be careful to guard against _______ when using age and life-cycle segmentation
Stereotyping
Traditional marketing
Cannibalisation
Differentiation
Kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. After the cereal begins to appear in these new markets, the company increases its promotion expenditure to check competition. Kellogg's is in the _____ stage of the product life cycle.
Adoption
Introduction
Growth
Maturity
Which of the following refers to a nonprobability sample in which the researcher selects the easiest population members from which to obtain information?
Judgement sample
Convenience sample
Statified random sample
Quota sample
A consumer that spends considerable time and energy seeking detailed infromation about a product prior to purchase is displaying which type of decision making?
High involvement
Low involvement
Experimental
Experiential
With reference to the ADIA model of advertising effects, what does the first A stand for?
Association
Action
Attribute
Awareness
Which of the following is considered to be a relative strength of advertising?
Advertising usually facilitates two-way communication with the audience
Advertising is personal
Advertising is relatively inexpensive compared to other promotional methods
Advertising can be used to build up a long-term image of a brand
Often when a company introduces a new product or line extention, its promotion will focus on ________ in order to initiate the product-adoption process.
Creating awareness
Stimulating demand
Retaining loyal customers
Identifying prospects
A regional supermarket chain runs print, radio, and television advertisements announcing that 1% of each of its sales is donated to local after-school programs for underpriviledged youth. This is an example of _________.
Sustainable marketing
Market segmentation
Cause-related marketing
Product differentiation
A marketing research company asked members of a focus group to describe several brands as animals. This is an example of ______.
Brand extension
Quantitative research
Interpretive consumer research
Brand strength analysis
For which of the following would a company use an exclusive distribution strategy?
Newspapers
Dairy products
Chewing gum
Luxury cars
In the contet of behavioural segmentation, markets segmented by ______ can be categorised into light, medium, and heavy product users.
Usage rate
Loyalty status
Benefits sought
User status
Which of the following statments is true of social classes?
Income is the single factor that determines social class
Social classes are society's temporary divisions
People within a social class tend to exhibit similar buying behaviour
Social classes universally exhibit identical product and brand preferences
When _______ branding is used, each of a firm's products is branded with at least psrt of the same name.
Individual
Family
Selective
Brand-extention
Quantitative research collects which of the following types of data?
Customer attitudes
Market size
Market share
Sales figures
Marketers describe the way a consumer processes information to arrive at brand choices as _____
Cognitive dissonance
Alternative evaluation
Impulse buying
Information search
Carrie tends to purchase various brands of bath soap. She has never been loyal to a specific brand; instead she does a lot of brand switching. Carrie exhibits _____
Dissonance-reducing buying behaviour
Complex buying behaviour
Conspicuous consumption behaviour
Variety-seeking buying behaviour
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