Question 1.Which of the following BEST describes an underlying trend towards an increasing number of farmers markets in the summer of 2011?
- Changes in resource availability shift the balance of supply and demand.
- Customer demand is rarely stable, necessitating demand forecasts.
- When demand surges past supply, marketers can practice demarketing.
- Changes in income affect consumer demand, which in turn affects suppliers’ earnings.
Question 2.Which of the following is NOT a likely use of a marketing dashboard?
- Providing campaign performance data to marketing managers.
- Making the results of predictive modeling available to the company’s sales staff.
- Allowing senior executives to launch new marketing campaigns based on historical sales information.
- Giving planners access to return on marketing investment (ROMI) data about a campaign.
Question 3.Which of the following was NOT described as an economic factor in the macro-environment that affects consumer purchasing power?
- Changes in income
Question 4.Consider a typical consumer search for a new pair of casual slacks. Which answer best describes the degree of involvement required, based upon the purchase category?
- Extended problem solving, typical of specialty products.
- Limited problem solving, typical of convenience products.
- Routine problem solving, typical of convenience products.
- Limited problem solving, typical of shopping products.
Question 5.What is the first step in the segmentation process?
- Group products into categories with similar prices.
- Group buyers into potential target market segments.
- Develop potential market actions based on brand image and market position.
- Estimate potential return on investment.
Question 6.Which of the following factors was NOT described in Chapter 8 as important in the global business environment?
- Level of economic development.
- Lack of demographic data availability.
- Value and volatility of the country’s currency.
- Political will to place value on environmental protection.
Question 7.What purpose was stated in Chapter 7 for the market research technique of “perceptual mapping”?
- To identify potentially successful positioning strategies by comparing products, brands, or companies.
- To evaluate potential products or brands that consumers might place in their consideration set.
- To identify whether a product/service might be sold to both business and consumer markets.
- To identify dimensions of competition that are important to potential consumers of a product
- or brand.
Question 8.Which answer reflects the second of the four steps in the process by which consumers’ emotions influence their purchase decisions?
- Consumer feels motivation to satisfy a need.
- Consumer becomes aware of a need.
- Emotion awakens a consumer’s need.
- Consumer makes a purchase.
Question 9.Which of the following answers is the BEST example of trigger marketing?
- Nathaniel bought a big-screen TV on April 30th. On June 15th, he receives an email offer for a 30% discount on home theater electronics.
- Doug and Sally cancelled their cell phone contract. Their provider used their profile data to purge similar records from their prospect database.
- Bernard searched for round-trip flight online. The travel website he used captured his email address for future marketing campaigns.
- Meredith grouped prospects in her marketing database into segments based on their likelihood to use her department store’s in-house financing.
Question 10.Which answer BEST conveys how technological and ecological concerns are related?
- When federal regulations mandating recycling of technology wastes are passed, firms should look for ways to circumvent these policies.
- As each new technology replaces an older technology, the solitary focus should be on driving greater sales.
- A “cradle to cradle” technology design philosophy allows materials to be continually repurposed, reducing demands on nonrenewable resources.
- The resource requirements of technology products throughout their lifecycle can affect the natural environment and vice versa.