4) Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a ________. A) need B) value C) demand D) market offering E) desire Answer:
5) Canadian telecommunications giant BELL has committed resources to continue its annual, "Let's Talk" day to promote greater awareness in mental health. This is an example of a market- ing offering for a(n) ________. A) product B) person C) idea D) place E) exchange Answer:
6) The Walt Disney World Resort doesn't just offer amusement park rides, it uses its famed Dis- ney magic to create carefully orchestrated ________. A) service offerings B) benefits C) wants D) values E) experiences Answer:
7) Which of the following is a difference between the marketing concept and the selling concept? A) The marketing concept focuses on customer needs, whereas the selling concept focuses on ex- isting products. B) The marketing concept focuses on customer conquest, whereas the selling concept focuses on targeting the right customers. C) The marketing concept takes an inside-out perspective, whereas the selling concept takes an outside-in perspective. D) The marketing concept is product-centered, whereas the selling concept is production-cen- tered. E) The marketing concept focuses on short-term sales, whereas the selling concept strives to build long-term customer relationships. Answer:
8) Mountain Equipment Co-op (MEC) lives by a long-standing belief in being socially and envi- ronmentally accountable. This most likely reflects the ________. A) Societal Marketing Concept B) Selling Concept
C) Marketing Concept D) Product Concept E) Production Concept Answer:
9) Customer-driven marketing is most effective when ________.
A) a clear need exists among customers, but the need is difficult to identify B) customers do not know what they want but are easily persuaded C) customers seek new products and technological innovations D) clear needs exist and customers know what they want E) customers have wants but cannot afford them Answer:
10) ________ refers to a channel stretching from raw materials to components to final products that are carried to final buyers. A) A supply chain B) A marketing channel C) A market segment D) A demand chain E) A marketing-mix channel Answer:
11) An organization's mission statement should emphasize its intentions toward customers and the customer experience the organization seeks to create. TRUE or FALSE? Answer:
12) "At Dodson, we sell shoes" is a market-oriented business definition. TRUE or FALSE? Answer:
13) "At CL Online, we create customer connectivity, anytime, anywhere" is a product-oriented
14) A ________ is purposeful, specifying what an organization wants to accomplish in the larger environment. A) marketing strategy B) marketing objective C) strategic plan D) mission statement E) market portfolio Answer:
15) According to the BCG matrix, products or businesses with a high market share in a high- growth market are classified as ________. A) stars B) cash cows C) question marks D) dogs E) heroes Answer:
16) ________ refers to reducing the business portfolio by abandoning products that no longer fit the company's overall strategy. A) Market segmentation B) Vertical integration C) Product line extension D) Downsizing E) Diversification Answer:
17) Both market penetration and market development strategies primarily involve ________. A) selling the company's current products B) modifying the company's product line C) selling in new as well as existing markets D) developing new products E) leaving the current market Answer:
18) Many companies have dropped formal strategic planning models like the BCG because they can be difficult, time consuming, and costly to implement. TRUE or FALSE ? Answer:
19) Marketing department actions can increase purchasing costs, disrupt production schedules, increase inventories, and create budget headaches. Thus, other departments may ________ the marketing department's efforts. A) support
B) develop C) resist D) encourage E) favour Answer:
20) When considering managing marketing strategies and the marketing mix, the core of this ap- proach is all about creating customer value and profitable customer relationships. Which series of factors are immediately next to the customer (from middle of circle to the outside)? A) Suppliers, Marketing intermediaries, Competitors, Publics B) Place, Promotion, Price, Product C) Segmentation, Targeting, Differentiation, Positioning D) Marketing: analysis, planning, implementation, control E) Market Penetration, Diversification, Market Growth, Product Growth Answer:
21) Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization. A) supply chain B) macroenvironment C) marketing intermediary network D) internal environment E) microenvironment Answer:
22) ________ are distribution channel firms that help a company find customers or make sales to them. A) Resellers B) Suppliers C) Producers D) Logistics firms E) Credit companies Answer:
23) The town of Genter recently witnessed a devastating hurricane that crippled the town's infra- structure. Q-Mart, a retail chain that plans to open a new retail store in Genter, organizes a pro- gram to help the people of Genter. The program consists of providing free meals to those who lost their dwellings in the hurricane. What section of the marketing microenvironment is Q-Mart most likely trying to reach? A) suppliers B) marketing intermediaries C) local publics
24) ________ markets consist of individuals and households that buy goods and services for per- sonal use. A) Consumer B) Business C) Government D) Wholesaler E) Retailer Answer:
25) A public is any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives. TRUE or FALSE ? Answer:
26) Which of the following generational groups accounts for 25 percent of the Canadian popula- tion but still controls the highest spending power of any age cohort? A) Millennial B) Generation X C) Generation Z D) baby boomer E) Lost Generation Answer:
27) Which of the following is most likely a true statement about generational groups in Canada? A) The millennials account for nearly half of all discretionary consumer spending in Canada. B) Generation Xers are the most educated generation to date. C) The baby boomers comprise the poorest segment of the population. D) Generation Xers form the largest segment of the population. E) The millennials are the most financially secure generation. Answer:
28) Companies have responded to consumers' back-to-basics sensibility in their lifestyle and spending patterns through ________. A) frugal marketing B) value marketing C) quality marketing D) diverse marketing E) prestige-oriented marketing Answer:
29) Changes in variables, such as income, cost of living, interest rates, and savings and borrow- ing patterns most likely reflect changes in the ________ environment of a company.
A) economic B) natural C) demographic D) political E) cultural Answer:
30) The purchasing power of a population is part of the demographic environment of a com- pany's macroenvironment. TRUE or FALSE? Answer:
31) Which of the following is true of a good marketing information system?
A) It focuses solely on maximizing the amount of data generated irrespective of relevance. B) It typically uses only external sources of data in marketing research. C) It helps decision makers use the information to generate customer and market insights. D) It develops a way of offering information about future plans of action that might not be very feasible or cost-effective. E) It eliminates the time-consuming task of assessing the information needs of a firm. Answer:
32) Which of the following sources constitutes the internal database of a company? A) commercial online databases B) supplier information C) the company's sales transactions D) reports sold by market research firms E) big data Answer:
33) Hammond Corp. operates in the highly aggressive electronics market. The firm aims to ob- tain early warnings of opportunities and threats caused by the actions of other firms that are do- ing well in the industry. Which of the following sources would best serve Hammond's purpose? A) sales data from exclusive Hammond retailers B) archival data on company performance C) competitive marketing intelligence D) research on demographics of its existing customers E) internal survey on employee performance Answer:
34) Which of the following is not considered a source of competitive marketing intelligence? A) observing consumers firsthand B) monitoring social media C) competitors' internal databases D) benchmarking competitors' products E) online research
35) Which of the following is an advantage of primary data?
A) They are less expensive to obtain than secondary data. B) They can be obtained more quickly than secondary data. C) They can be accessed from existing information. D) They are more relevant than secondary data. E) They are more reflective of past problems. Answer:
36) Which of the following is a quantitative approach to research?
A) observational research B) online focus groups C) ethnographic research D) in-depth interviews E) marketing surveys Answer:
37) CRM analysts use big data and marketing analytics to unearth patterns in customer data. TRUE or FALSE? Answer:
38) Susan Hart, the manager of a children's boutique, collects data from her monthly records of sales, costs, and cash flow. In this case, Susan is making use of ________ databases. A) external B) secondary C) historical D) internal E) dialog Answer:
39) Which of the following is true of competitive marketing intelligence?
A) It can predict a firm's future but not the pattern of forces in the market. B) It cannot be collected from internal sources of a firm such as employees and the sales force. C) It requires inside information from a competitors' internal database. D) It can be obtained from information that is available in the public domain. E) It can be obtained from online databases only through subscription and a fee. Answer:
40) Which of the following statements regarding marketing intelligence is true?
A) Marketing intelligence typically involves sensitive and confidential information kept out of the public domain. B) The advantage of using competitive intelligence is negligible as it is based only on internal
sources of data. C) All marketing intelligence inputs are available at no cost to any potential users. D) Marketing intelligence is the systematic collection, monitoring, and analysis of publicly avail- able information. E) Marketing intelligence efforts are more focused on gaining insights into a firm's consumers rather than its competitors. Answer:
41) A child in Canada is exposed to many values including freedom, the beauty of our natural landscape, our belief in respect, equality, and fair treatment; family life; and being Canadian. These are symbolic of Canadian ________. A) subculture B) culture C) society D) perceptions E) expectations Answer:
42) Subcultures include ________.
A) nationalities. B) religions. C) racial groups. D) geographic regions. E) All of the above Answer:
43) Which of the following is a personal factor that influences a consumer's buying behaviour? A) life-cycle stage B) motivation C) status D) family E) social networks Answer:
44) A marketing firm has been assigned the task of watching trends in spending, personal in- come, savings, and interest rates. The marketing firm is most likely gathering information about consumers' ________. A) social network usage rates B) economic situations C) occupational needs D) purchasing perceptions E) brand affiliations
45) ________ is a discomfort caused by post-purchase conflict.
A) Selective retention B) Cognitive dissonance C) Selective attention D) Restraint bias E) Subliminal perception Answer:
46) Personal sources of information normally inform the buyer, but commercial sources legit- imize or evaluate products for the buyer. TRUE or FALSE? Answer:
47) In which of the following stages of the adoption process does a consumer consider whether trying a new product makes sense? A) interest B) adoption C) evaluation D) awareness E) trial Answer:
48) A business buyer is considering a change in product specifications, terms, and possibly sup- pliers. This buying situation is referred to as a(n) ________. A) modified rebuy B) new-task situation C) straight rebuy D) dual distribution channel E) exclusive distribution channel Answer:
49) ________ is the degree to which an innovation may be tried on a limited basis. A) Divisibility B) Compatibility C) Communicability D) Relative advantage E) Complexity Answer:
50) ________ are tradition-bound, suspicious of changes, and adopt an innovation only when it has become something of a tradition itself.
A) Latent innovators B) Early adopters C) Early mainstream adopters D) Lagging adopters E) Late mainstream adopters Answer:
51) ________ is the process of dividing a market into distinct groups of buyers who have differ- ent needs, characteristics, or behaviour. A) Differentiation B) Mass marketing C) Market targeting D) Market segmentation E) Positioning Answer: 52) Lilly's, a furniture retailer, sells low-end furniture and accent pieces that are targeted toward lower-income consumer groups. Lilly's most likely segments the consumer market based on ________ variables. A) demographic B) psychographic C) universal D) geographic E) behavioural Answer:
53) Delta, a Canadian video game manufacturer, targets teens between the ages of 13 and 18, providing free game trials and applications. The firm's marketing approach exemplifies ________ segmentation. A) age and life-cycle B) geographic C) occasion D) gender E) income Answer:
54) Market segments that can be effectively reached and served are said to be ________. A) measurable B) accessible C) substantial D) actionable E) profitable Answer:
55) By having over 90 different types of Tide detergent (stain remover, concentrate, scent, and HE liquid are just a few of the choices), Tide is trying to use a ________ strategy. A) differentiated B) low cost C) confusing
56) Although not recommended, some marketers decide to ignore market segmentation and tar- get the whole market with one offer. This is known as ________ marketing. A) undifferentiated B) differentiated C) niche D) local E) individual Answer:
57) The marketing manager of Refresh Inc., a leading producer of soft drinks, is considering a differentiated marketing strategy. An important consideration is weighing increased sales against ________ before selecting this strategy. A) decreased production B) increased demand C) increased costs D) decreased prices E) increased profits Answer:
58) Compared with undifferentiated marketing, differentiated marketing is more likely to lead to ________. A) reduced sales in each market segment B) weaker product position in each market segment C) higher costs of doing business D) redundancy in product design across market segments E) smaller market share in the industry Answer:
59) The surge in popularity of Canadian Craft Breweries like Beau's All Natural Brewing Co., Coulee Brew Co., Foghorn Brewing Company, and Persephone Brewing Co are primarily de- signed to meet the needs and wants of specific cities or regions. These are examples of ________ marketing. A) differentiated B) mass C) niche D) local E) individual
60) Micromarketing includes global marketing and standardized marketing. TRUE or FALSE ? Answer:
61) Which of the following is a pure tangible good?
A) shampoo B) a spa treatment C) financial advice D) a meal at a restaurant E) a medical check-up Answer:
62) Susan has been redecorating her new condo for a year. She is carefully selecting every item. Susan finds an oriental rug that matches her colour scheme and décor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of a(n) ________. A) shopping product B) convenience product C) specialty product D) industrial product E) capital product Answer:
63) Laundry detergent, candy, magazines, and fast food are purchased frequently by customers. They are examples of ________ products. A) unsought B) shopping C) convenience D) specialty E) industrial Answer:
64) Many companies are taking a ________ approach, viewing quality as an investment and holding quality efforts accountable for bottom-line results. A) return-on-quality B) quality level C) performance quality D) conformance quality E) total quality management Answer:
65) A company adding new features to a product will most likely assess each feature's value to customers relative to its ________. A) cost to the company B) performance in the market C) benefits to the company
66) A ________ is defined as a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service. A) prototype B) paradigm C) framework D) patent E) brand Answer:
67) Which of the following terms best describes the process of designing and producing a con- tainer or wrapper for a product? A) labeling B) positioning C) licensing D) packaging E) branding Answer:
68) In 2020, Tim Horton's announced that it was going back to basics, backing away from an in- creasingly long menu that confused customers and slowed production and output. This product line reduction is being pursued because managers can ________. A) decrease costs by adding items B) increase market share by adding items C) increase profits by dropping items D) decrease costs by dropping items E) increase profits by adding items Answer:
69) ________ simply describes the appearance of a product.
A) Filling B) Strengthening C) Mixing D) Style E) Widening Answer:
70) Which of the following is most likely a true statement about services? A) Services can be stored for later sale or use. B) Service quality is not dependent on the provider. C) Services can be easily separated from their providers. D) Service industries vary greatly. E) Demand fluctuation has little to no impact on service providers. Answer: SECTION 2 - MULTIPLE CHOICE & TRUE OR FASLE QUESTIONS
• SELECT AND ANSWER 3 OUT OF THE 6 QUESTIONS BELOW
• Your answers show not exceed 150-200 words max.
(30 points, 10 point per answer x 3 questions)
1) How do companies use marketing techniques to respond to the changing diversity in the North American population? Provide examples to illustrate your response.
2) Jimmy's Great Coffee has enjoyed strong national success serving fresh brewed coffee and homestyle baked goods. In the pursuit of sustained growth, the executive committee has determined that Jimmy's will expand internationally in the next two years and attrac- tive foreign markets must be identified. In addition to identifying potential markets and the necessary research that will be conducted in order to make better foreign expansion deci- sions, the marketing director must consider issues that may arise when developing a mar- ket research strategy. What does the marketing director need to consider when contemplat- ing a research strategy abroad?
3) Explain how the decision process in the business market and consumer market differ.
4) Explain the four major steps in designing a customer-driven marketing strategy.
5) Differentiate between the BCG matrix and the product/market expansion grid.
6) What are the two ways in which a company can extend its product line?
(Forensic Psychology) David J. Thomas-Police Psychology - A New Specialty and New Challenges For Men and Women in Blue (Forensic Psychology) - Praeger (2011)
(Forensic Psychology) David J. Thomas-Police Psychology - A New Specialty and New Challenges For Men and Women in Blue (Forensic Psychology) - Praeger (2011)
