QuestionQuestion 1 (5 points) Question 1 Unsaved__________ refers to a business buying situation in which the buyer purchases a product or service for the first time.Question 1 options:Reverse auctionNew taskStraight rebuyModified rebuyDerived demandSaveQuestion 2 (5 points) Question 2 UnsavedThe single most important demographic trend in the United States is the __________.Question 2 options:changing family structure of the populationincreasing number of professional jobschanging age structure of the populationmobility of familiesincreasing birth rateSaveQuestion 3 (5 points) Question 3 UnsavedWhich of the following is true of the Baby Boomers?Question 3 options:They represent a rapidly shrinking market for new housing and home remodeling.They are long past their peak earning and spending years.They tend to see themselves as far older than they actually are.They control an estimated 80 percent of the personal wealth in the U.S.They have utter fluency and comfort with digital technology.SaveQuestion 4 (5 points) Question 4 UnsavedWholesome Soups, a maker of organic soups, is starting a new marketing campaign emphasizing the ease of preparing and eating Wholesome Soups.Print, television, and Internet ads feature teens enjoying Wholesome Soups in between classes and during study breaks.Wholesome Soups’ new marketing campaign is most likely aimed at which of the following?Question 4 options:The LOHAS marketMillennialsThe SOHO marketGen XersBaby BoomersSaveQuestion 5 (5 points) Question 5 UnsavedFirms use competitive marketing intelligence to __________.Question 5 options:counter the adverse effects of organizational anarchycreate and sustain market monopoliesperpetuate organizational learningstrengthen weak ties with industry competitorsgain early warnings of competitor moves and strategiesSaveQuestion 6 (5 points) Question 6 UnsavedWhich of the following is the first step in the marketing research process?Question 6 options:Interpreting and reporting the findingsDeveloping the research planDefining the problem and objectives of the studyImplementing the research planDeveloping a marketing information systemSaveQuestion 7 (5 points) Question 7 UnsavedJoAnn Fabrics Inc.has created a new combination of colors and fabric types.The firm wants to know how consumers will perceive the new product.The firm is concerned with the product __________.Question 7 options:activationplacementideaimagedisplacementSaveQuestion 8 (5 points) Question 8 UnsavedNike produces shoes out of “environmentally preferred materials”, recycles old sneakers, and educates young people about conserving, reusing, and recycling.Nike is practicing:Question 8 options:design for environment.corporate social responsibility.brand imaging.new clean technology.pollution prevention.SaveQuestion 9 (5 points) Question 9 Unsaved”Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods.” This is an example of __________.Question 9 options:product diversificationdemographic segmentationpsychographic segmentationgeographic segmentationbrandingSaveQuestion 10 (5 points) Question 10 Unsaved__________ are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort.Question 10 options:Supplies and repair servicesShopping productsUnsought productsCapital itemsConvenience productsSavePrevious PageNext PageQuestion 11 (5 points) Question 11 UnsavedTaking advantage of the trend in multi-generational housing, Madison Builders is aggressively marketing its ‘home within a home’ concept, which features a grandparents’ mini-home incorporated into a large single-family house.Which environmental force is Madison Builders counting on for its future home sales?Question 11 options:PoliticalTechnologicalSocialCompetitionEconomicSaveQuestion 12 (5 points) Question 12 UnsavedCasey has finally finished his Saturday chores and is preparing for a little ‘me time’ away from the house and family.He and his wife have agreed on a budget of $50 for his weekly Saturday outings with his buddies.They are debating whether to play golf, watch the game at the local sports bar, or visit the car show as they only have funds for one of these.What environmental force are Casey and his friends experiencing?Question 12 options:CompetitionPoliticalEconomicSocialTechnologicalSaveQuestion 13 (5 points) Question 13 UnsavedFlashFlix, a streaming movie service, created a blog to help parents on budget plan ‘movie at home’ parties for their kids and their friends, offering prizes to the best blog story about how the family was coping with a tight budget.To which environmental force is FlashFlix reacting?Question 13 options:CompetitionTechnologicalSocialEconomicPoliticalSaveQuestion 14 (5 points) Question 14 UnsavedThe Farmer’s Pantry, an all-natural upscale grocery store, tends to cater to a well-educated, upper-middle-class clientele.The stores use streaming video from the farms and fishing boats that supply their products directly to their customers’ phones via hash tags.What environmental force is Farmer’s Pantry leveraging?Question 14 options:SocialEconomicCompetitionPoliticalTechnologicalSaveQuestion 15 (5 points) Question 15 UnsavedResponding to very strict ‘green’ legislation, the chemical firm Atticus Environmental is touting the safety of its consumer-based vegetable garden insecticide, claiming it bio-degrades in 90 days, which is twice as fast as required by the new law.Which environmental factor is the firm hoping to leverage for additional sales?Question 15 options:PoliticalCompetitionEconomicTechnologicalSocialSaveQuestion 16 (5 points) Question 16 UnsavedThe firm that makes Betty Sue’s Down Home Pork Rinds found that their best customers enjoy NASCAR, pro wrestling, family gatherings, and are politically conservative.These are considered to be the __________ of the market segmentQuestion 16 options:demographicscustomer attributesmedia choicessocial planning elementspsychographics or lifestyleSaveQuestion 17 (5 points) Question 17 UnsavedPatty’s Party Palace plans all year for their Halloween spectacular specializing in adult versions of animated characters such as Snow White and the Little Mermaid.Which subset of behavioristic segmentation would Patty most likely use?Question 17 options:PriceOccasionHolidayPsychographicHeavy/light userSaveQuestion 18 (5 points) Question 18 UnsavedResearch and experience shows that most supermarkets are able to draw customers from approximately a five mile radius; however, Trader’s Joe’s draws from a much larger area due to their image and special products.If Trader Joe’s uses this phenomenon in developing a persona for a group of customers, this would be an example of what type of segmentation?Question 18 options:PsychographicGeographicBrandedPriceDemographicSaveQuestion 19 (5 points) Question 19 UnsavedSelect the definition that best describes the concept of a persona.Question 19 options:A set of characteristics used in setting price.A segmentation strategy based on the beliefs of consumer.A set of psychological traits used in identifying advertising.A fictional name and set of characteristics describing a market segment.The demographic traits of a group of consumers.Question 20 (5 points) Question 20 UnsavedThe quantitative (numerical) segmentation factors that help a marketing manager decide where, and to whom, to sell the firm’s products such as age, race, gender, and income are known as:Question 20 options:communications planning.demographics.lifestyle choices.numeric profile.market planning.
