Unit 4 quiz 2
Question 1 In a customer-driven marketing strategy, you
select specific groups of customers whose needs your service can satisfy. What
strategy are you using?
Question 2 Your firm has decided to customize its goods and
services to meet local market demands. What segmentation strategy is a good
approach to use?
final consumer end-use
education and occupation
Question 3 Customers show their allegiance to brands, stores
or companies. Marketers can use this information to segment customers by:
Question 4 Business markets use some of the segmentation
criteria used for consumer markets. Of the options below, which are primarily
used in a B2B (business to business) situation and not in a B2C (business to
operating characteristics and purchasing approaches
nations, countries and neighborhoods
age, gender, and income
Question 5 When the size, purchasing power and profiles of a
market segment can be determined, it possesses the requirement of being:
Question 6 Your company decides to sell a product to a large
share of a smaller, concentrated group of business customers. The strategy you
are using is called:
Question 7 A company with a food product line directed at
children decides to cut the calories, additives and salt from its product
offerings. It is practicing socially responsible target marketing.
Question 8 Not all brand differences are meaningful or
worthwhile, as each has the potential to create costs to the firm as well as
benefits to the consumer. If the difference cannot easily be copied by
competitors, it is said to be:
Question 9 A form of product that consists of activities,
benefits or satisfactions offered for sale that are essentially intangible and
do not result in the ownership of anything is called a:
Question 10 A name, term, symbol, or design (or a
combination of these) that helps distinguish a product from competitive
offerings is called a:
Question 11 A group of products that are closely related
because they function in a similar manner, are sold to the same customer
groups, are marketed through the same type of outlets, or fall within given
price ranges is called a:
Question 12 All of the goods and services that a particular
seller offers for sale are called a:
Question 13 Which of the following is most likely to be seen
as the major enduring asset of a company, outlasting the company’s specific
products and facilities?
physical goods inventory
brand and reputation
Question 14 New product development starts with:
Question 15 Your company decides to use internal sources for
developing new product ideas. Which of the following would NOT be consulted?
executives and professionals
company records and data
Question 16 Which one of the following is the most important
external source of new product ideas?
trade magazines, shows, and seminars
distributors and suppliers
Question 17 A product has a very short life cycle, popular
with a narrow audience that causes a quick spike in consumer demand, followed
by a quick drop off in popularity. This describes a:
Question 18 In a standard Product Life Cycle, it is likely
that profits are nonexistent or negative (a loss) during the following phase:
Question 19 During this stage of the Product Life Cycle,
sales start to accelerate significantly, as new customers are attracted to the
product offering. Unfortunately, competitors are also attracted and
counter-measures may be needed. This stage is called:
Question 20 Companies need to pay attention to their aging
products. Management should regularly review sales, market share, costs, and
profit trends to decide whether to maintain, harvest or drop these declining
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