1 Mike would like to purchase new laptop computer for no more than 1 000 As he searches his memory for possible laptop alternatives he can recall 6 different brands Dell Gateway Toshiba Sony HP and Acer However Mike has a strong preference for 2 of these brands Dell and Acer After much effort to compare the differences of these two brands Mike ultimately purchases a new Dell laptop In this example Dell and Acer would represent a b c d e Ultimate products Low involvement products A disposable product set A consideration set All of the above In the text case 7 2 said that AutoTrader com s initial challenge was to a b c d Figure out how to get cars delivered to customers who were far away Create an ad campaign urging the public to not worry about high gas and oil prices Change the habits of people who were used to buying cars from newspaper ads Create a customer guarantee program that assured anyone who bought a car would have 30 days to return it All of the above e The correct order of the 5 steps within the consumer decision buying process is a Problem recognition evaluate alternatives purchase information search post purchase evaluation Information search needs analysis reference group approval purchase post purchase evaluation Information search needs analysis purchase reference group approval post purchase evaluation Problem recognition information search evaluate alternatives purchase post purchase evaluation None of the above are correct Which of the following is most likely a low involvement product a b c d e A box of cookies A pack of gum A can of beer A box of cereal All of the above are low involvement products 5 A group of individuals whose characteristics values and behavioral patterns are similar within the group and different from those people in the surrounding culture is defined in the book as a an Culture Subculture Institutional group Consumer group None of the above 6 According to the textbook which 6 forces shape a company s macroenvironment A B C D E Divisional economic cultural natural technological and political Demographic relational cultural natural technological and political Demographic economic cultural natural educational and political Demographic economic cultural natural technological and political Demographic economic financial natural technological and political 2 3 4 b c d e a b c d e 1 Which of the following is NOT a demographic trend in the U S a b c d Increase in white collar workers Population in the US becoming less educated Recognition of gay lesbian markets Increase in number of working women Which is the youngest and largest U S Generation segment a b c d Millennials Gen Y Gen X None of the above a b c d Price Budget Value Cost Location Need Performance Expectation 9 Customer Satisfaction depends on the products perceived relative to a buyer s marketing allows companies to target few customers that are more profitable a b c d Direct Indirect Distant Close From Video The UPC found on grocery items stands for a b c d Universal price code Universal pattern code Universal product code None of the above From Video Goldman s design of the original shopping cart was inspired by a a b c d Car Baby Carriage Table Chair From Video Which of the following will NOT encourage customers to shop longer in grocery stores a b c d Softer lighting Smooth music Blue color schemes All of the above encourage extended shopping 14 According to the Target Market Selection Process before determining which segmentation variables to use you must first a b c d Select specific markets Evaluate relevant market segments Develop market segment profiles Identify the appropriate targeting strategy 7 8 10 11 12 13 2 15 Which of the following is not a type of segmentation variable for consumer markets a b c d e Demographic Lexigraphic Psychographic Behavioristic Geographic 16 A group of people or organizations which a business creates and maintains a marketing mix specifically designed to satisfy the needs of group members is a 17 The Claritas Prizm website that we looked at in class was an example of what type of segmentation a b c d a b c d Heterogeneous market Target market Market density Producer market Benefit segmentation Price Segmentation Geodemographic Segmentation Competitor Segmentation 18 What are three of the external characteristics of marketing segmentation A Geographic Economic and Perceptions B Attitudes Motivations and Demographic C Geographic Economic and Demographic D Attitudes Economic and Lifestyle E Personality Lifestyle and Demographic Based on product usage rates what segment would marketers preferably market their products to Light Users Heavy Users Non Users Both a and b Both a and c 19 A B C D E 20 A B C D E 21 What is not an EXTERNAL characteristic of market segmentation Cultural Demographic Geographic Lifestyle Economic Hallmark s creation of 43 Hallmark Holidays is an example of utilizing A B C D E Cross cultural research Fictional segmentation Non traditional market research Occasion segmentation Efficiencies in the supply chain A True B False 3 22 Segmenting a market always costs more than not segmenting 23 A B C D E Which of the following is not an advantage to a concentrated targeting strategy Concentration of resources Meets needs of narrowly defined segment Can appeal to all market segments Small firms can compete Requires fewer resources 24 The single biggest problem associated with market segmentation is Cognitive dissonance caused by similar segmentation strategies Alienating those not in the target market A Halo effect resulting from copycats B C D Additional costs E None of the above 25 The key advantage of market segmentation is 26 A good approximation of undifferentiated segmentation is Lower costs Effectiveness Efficiency A B C D Good media coverage E B C are correct Cars A Electricity B C Jeans D Beer E Vodka 27 Weekends are for Michelob is an example of A Usage segmentation B Social class segmentation C Lifestyle segmentation D Income segmentation E Occasion segmentation 28 The Baby Boom generation is important to marketers for all of the following reasons EXCEPT A B C D E Number of people in this cohort Its self absorption It challenged exiting societal norms It grew up with TV Baby Boom generation is important to marketers for all of the above reasons 29 Millennials are important to marketers because of all of the following reasons EXCEPT A B C D E Number of people Grew up with the internet Marketing s fascination with youth
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