Archive for February 2019

The following organizational approaches accomplish tasks necessary to develop and manage products: market manager approach, product manager approach, and the _________ approach.

The following organizational approaches accomplish tasks necessary to develop and manage products: market manager approach, product manager approach, and the _________ approach.


a. brand manager
b. functional team
c. multiproduct manager
d. special projects
e. venture team


Answer: e

The members of a venture team come from

The members of a venture team come from


a. the marketing department.
b. a consulting firm.
c. the research and development department.
d. the production and finance departments.
e. different functional areas of an organization.


Answer: e

A brand manager in a multiproduct firm would be responsible for

A brand manager in a multiproduct firm would be responsible for


a. performance of a specific brand.
b. all brands within a product line.
c. branding the products of the firm.
d. all products in the brand-line group.
e. all brands made by the firm.


Answer: a

Dropping an unprofitable product immediately is the best strategy when

Dropping an unprofitable product immediately is the best strategy when


a. all advertising and promotional efforts have been exhausted.
b. customers have a negative outlook on other products.
c. losses are too great to prolong the product's life.
d. the product's performance cannot be improved.
e. there is low compatibility with the firm's business strategies.


Answer: c

A runout policy of product deletion

A runout policy of product deletion


a. lets the product decline without changing the product strategy.
b. is an immediate-drop decision.
c. exploits any strengths left in the product.
d. raises the price of the product continually to secure as much profit as possible before the product is priced out of the market.
e. occurs when production cannot keep pace with demand because of material shortages.


Answer: c

A phase out approach can be best described as

A phase out approach can be best described as


a. allowing the product to decline without a change in the marketing strategy.
b. exploiting any strengths left in the product.
c. immediately dropping the product from the product mix.
d. intensifying marketing efforts in core markets.
e. stopping production to get rid of material surplus.


Answer: a

The product deletion process is similar to the ___________ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.

The product deletion process is similar to the ___________ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.


a. idea generation
b. screening
c. product development
d. test marketing
e. business analysis


Answer: e

A suggested approach to deleting products, in which each product is evaluated periodically to determine its impact on the overall effectiveness of the firm's product mix, is called a(n)

A suggested approach to deleting products, in which each product is evaluated periodically to determine its impact on the overall effectiveness of the firm's product mix, is called a(n)


a. evaluation study.
b. formal evaluation.
c. product inspection.
d. systematic review.
e. reassessment examination.


Answer: d

Product deletion

Product deletion


a. tends to be an easy task for most organizations.
b. may be opposed by management.
c. involves immediate termination.
d. is a matter of indifference to customers.
e. usually occurs only with convenience items.


Answer: b

Three major ways in which marketers engage in product differentiation are

Three major ways in which marketers engage in product differentiation are


a. product quality, product design and features, and product support services.
b. product quality, product support services, and packaging.
c. product support services, product design and features, and product positioning.
d. product positioning, product quality, and product management.
e. product positioning, product design and features, and product promotion.


Answer: a

Early in the commercialization phase, marketers must make decisions about

Early in the commercialization phase, marketers must make decisions about


a. warranties, repairs, and replacement parts.
b. product features and breakeven points.
c. functionality, safety, and convenience.
d. the proposed marketing mix variables.
e. which ideas to further pursue.


Answer: a

The test-marketing stage

The test-marketing stage


a. is an extension of the screening stage.
b. should come immediately after business analysis.
c. ensures that the product will not fail.
d. is a sample launching of the entire marketing mix.
e. prevents competitors from copying the product.


Answer: d

The phase of the new-product development process when the organization determines the technological feasibility of producing the product at a cost that results in a reasonable selling price is

The phase of the new-product development process when the organization determines the technological feasibility of producing the product at a cost that results in a reasonable selling price is


a. test marketing.
b. commercialization.
c. concept testing.
d. product development.
e. business analysis.


Answer: d

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called


a. concept testing.
b. customer response testing.
c. idea analysis.
d. test marketing.
e. screening.


Answer: a

Introducing new products is risky and so is

Introducing new products is risky and so is


a. performing marketing research.
b. keeping tabs on the actions of competitors.
c. not introducing new products.
d. generating new product ideas.
e. addressing customers' concerns about products.


Answer: c

The major drawback to using aesthetic modifications is

The major drawback to using aesthetic modifications is


a. the cost of the modifications.
b. that the value of the modification is determined subjectively.
c. the need for redesign of the product.
d. a possible decrease in market share.
e. that there is no differentiation for the product in the market.



Answer: b

Which of the following is the best example of a functional modification?

Which of the following is the best example of a functional modification?


a. Campbell's puts more of a higher-grade chicken in its classic chicken noodle soup.
b. A smoke alarm is modified to be more sensitive to smoke at farther distances.
c. Motorola uses a battery that allows its cell phones to charge back up more quickly.
d. The manufacturer of the primer and sealer, Kilz, introduces an odorless variety.
e. Friskies changes the ingredients in its cat food to a taste that is preferred by most cats.


Answer: b

Quality modifications are changes that relate to a product's

Quality modifications are changes that relate to a product's


a. dependability and durability.
b. effectiveness and versatility.
c. price and availability.
d. reliability and value.
e. value and durability.


Answer: a

In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and

In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and


a. modification should make the product more consistent with customers' desires.
b. competing companies should not be aware of planned product modifications.
c. modification should change customers' desires to provide greater satisfaction.
d. management must perceive the modification as a reasonable and necessary action.
e. production costs and materials needed should be limited.


Answer: a

In product modification, the first issue to consider is whether

In product modification, the first issue to consider is whether


a. existing customers can perceive that a product modification has been made.
b. the product is modifiable.
c. quality is modified.
d. modification will make the product more consistent with customers' desires.
e. modification will provide greater satisfaction to the consumer.


Answer: b

What is the primary distinction between a line extension and a product modification?

What is the primary distinction between a line extension and a product modification?


a. A product modification results in a completely new product while a line extension is simply changing an old product.
b. In both cases an existing product is altered, but the alteration is more dramatic with a product modification than it is with a line extension.
c. Line extensions are designed to better meet the needs of the existing market segment while product modifications target entirely new segments of the market.
d. With product modifications, the original product is replaced in the product line while both the old and the new products remain in the case of line extension.
e. Line extensions are strictly aesthetic changes to an existing product whereas product modifications consist of changes in quality and functionality.


Answer: d

__________ is the development of a product that is closely related to one or more products in a firm's existing product line but is designed specifically to meet somewhat different customer needs.

__________ is the development of a product that is closely related to one or more products in a firm's existing product line but is designed specifically to meet somewhat different customer needs.


a. Quality modification
b. Line extension
c. Aesthetic modification
d. Feature modification
e. Product mix modification


Answer: b

A(n) ___________ is the development of a product that is closely related to one or more products in the existing product line but is designed specifically to meet somewhat different needs of customers.

A(n) ___________ is the development of a product that is closely related to one or more products in the existing product line but is designed specifically to meet somewhat different needs of customers.


a. product modification
b. line extension
c. quality modification
d. functional development
e. aesthetic extension


Answer: b

Why are line extensions more common than new products?

Why are line extensions more common than new products?



a. They are higher risk and more expensive.
b. They are guaranteed to succeed in the marketplace.
c. They are less expensive and lower-risk.
d. They require no market research.
e. Modifications to existing products are very easy.


Answer: c

Linear attribution gives credit to

Linear attribution gives credit to



Answer: all prior customer touchpoints that can be tracked in analytics

I have a blog and I want to track the engagement of my readers. My blog posts usually take at least 4 minutes to read, and I want to track the percentage of users who read an entire blog post. I should set up a(n) _____________ goal.

I have a blog and I want to track the engagement of my readers. My blog posts usually take at least 4 minutes to read, and I want to track the percentage of users who read an entire blog post. I should set up a(n) _____________ goal.



Answer: time on site

Consider the following conversion funnel: Visits: 1000 > Product in cart: 100 > Proceed to checkout: 98 > Entered shipping information: 93 > Entered payment information: 87 > Completed transaction: 85 - Where should we focus our efforts to increase the conversion rate?

Consider the following conversion funnel: Visits: 1000 > Product in cart: 100 > Proceed to checkout: 98 > Entered shipping information: 93 > Entered payment information: 87 > Completed transaction: 85 - Where should we focus our efforts to increase the conversion rate?



Answer: Getting visitors to place an item in the cart

Why is social media not free?

Why is social media not free?



Answer: Companies must allocate resources to managing their social media accounts.

A video or other content "goes viral" when

A video or other content "goes viral" when



Answer: those exposed to it forward it on to other friends, thus spreading it until it reaches market saturation.

A company wants to be scientific about creating a viral video. It has created a video and estimates the following virality parameters: Pf = .03; N = 500; Pv = .5. If the company is able to get 1,000 people to watch it at the outset, and its parameter estimates are accurate, is the video likely to go viral?

A company wants to be scientific about creating a viral video. It has created a video and estimates the following virality parameters: Pf = .03; N = 500; Pv = .5. If the company is able to get 1,000 people to watch it at the outset, and its parameter estimates are accurate, is the video likely to go viral?



Answer: Yes

Suppose I send an email with the following characteristics: 25% open rate; 25% click-through rate; 20% conversion rate; $100 average order value. How much revenue can I expect this email to generate if I send it out to my entire email list of 1000 members?

Suppose I send an email with the following characteristics: 25% open rate; 25% click-through rate; 20% conversion rate; $100 average order value. How much revenue can I expect this email to generate if I send it out to my entire email list of 1000 members?



Answer: $1250

What is ORM? Why is it important?

What is ORM? Why is it important?



Answer:

-Online Reputation Management- The act of reviewing what is being said about a company or individual online so that the company or individual can engage in activities that improve their overall public relations. Online reputations management is public relations, but online

If a company's Facebook posts are not being shown, what can the company do to be seen by more of its fans?

If a company's Facebook posts are not being shown, what can the company do to be seen by more of its fans?



Answer: It can pay facebook to make its content reach more of its fans. Increase engagement on page, buy advertisements, and boost posts


In addition to paying CPM and CPC, Facebook advertisers can also pay for advertising via
oCPM (optimized CPM) and CPA (cost per action).

Suppose you have a company Facebook profile that has 10,000 fans. Your posts are being viewed by only 100 of those fans on average. You know that more than 1% of your fans are logging on to Facebook every day. What explains this low viewing by your fans?

Suppose you have a company Facebook profile that has 10,000 fans. Your posts are being viewed by only 100 of those fans on average. You know that more than 1% of your fans are logging on to Facebook every day. What explains this low viewing by your fans?



Answer: Facebook does not display all content posted by friends or liked pages. Each user has hundreds of friends, so it would be too much. Use algorithm formerly known as EdgeRank, to put certain posts on your wall.

-It has low engagement, viewers are not engaged. The Facebook algorithm notices that and stops displaying it

The Facebook News Feed consists of what four types of content?

The Facebook News Feed consists of what four types of content?



Answer:

1. any content posted by friends, such as pictures, links, videos, statuses, etc.
2. other actions from friends such as likes, comments, etc.
3. content from pages liked by the user
4. paid-for advertisement

Name the three parts of the virality formula. X = Pf N Pv

Name the three parts of the virality formula.
X = Pf N Pv


-X is # of additional views generated from one person viewing,
-Pf is the probability of person forwarding that video to other people,
-N is number of people who see the forward,
-Pv is probability of person receiving the forward viewing the video.

What are the four steps in the social media plan?

What are the four steps in the social media plan?



Answer:

1. Determine the objective
2. Plan the content
3. Distribute and promote content
4. Measure success

In what ways is social media not free?

In what ways is social media not free?



Answer: Social media still costs money and resources bc companies have to pay employees to actively manage their social media accounts.

An email marketer sends an email out to a list of 10,000 subscribers. The click-through rate was 15%, but the email blast resulted in much fewer than 1,500 clicks. Why?

An email marketer sends an email out to a list of 10,000 subscribers. The click-through rate was 15%, but the email blast resulted in much fewer than 1,500 clicks. Why?



Answer:

-Many people clicked on the email link twice, or repeated the same link. Same customer, multiple times.
-The open rate was less than 100%, it was low.

What is list churn?

What is list churn?



Answer:

- the percentage of your subscriber list email addresses that unsubscribe or bounce over a set length of time.

What is a transactional email?

What is a transactional email?



-Transaction emails are sent to customers following a completed transaction. transaction emails generally pertain to automated order confirmation, confirmation when the credit has been charged and confirmation of shipment etc.
-Customer does not have to be on the email list.


-A customer who began purchasing items left one item unpurchased. The unpurchased item triggered the company to send an email to the shopper reminding them that they did not purchase the item and in some cases offer them a discount to incentivise the sale

What should the goal of a B2B services company in using email marketing?

What should the goal of a B2B services company in using email marketing?



Answer:

B2B sales often take long periods of time. The goal of email marketing in B2B should be to speed up the slow sales transaction of the sale and increase the value of the company or products in the minds of consumers.
-Also, to shorten their sales cycle by sending emails with useful content

Explain the difference between single opt-in and double opt-in. Which is recommended? Why?

Explain the difference between single opt-in and double opt-in. Which is recommended? Why?



-Single opt-in: immediately adding an email address to the list upon sign up.
-Double opt-in: sending a confirmation email and only ads user when they click the link in the email to sign up.
-Double opt-in recommended because it helps weed out more desirable leads, which helps ensure that the emails will be opened.

What are the different types of attribution and the pros and cons of each?

What are the different types of attribution and the pros and cons of each?



Answer:

Last-click: it overvalues a company's SEO team and search advertising team, but it is the easiest method
First-click: the first exposure a customer has usually has the biggest impact, but it can be inaccurate b/c of the arbitrary nature of specifying time windows of the prior interactions
Linear: it's the most reasonable b/c it gives equal credit to all of the customers touch points, but it has all of the disadvantages of the other types of attributions.
Time-decay: has the advantage of last-click without the disadvantages of it

A well-known bias of last-click attribution is that

A well-known bias of last-click attribution is that



Answer:

-it overvalues a company's SEO team and search advertising team (it gives too much credit to the last touch point in the marketing channel)
-it is simplistic

What is a conversion funnel and why is it important?

What is a conversion funnel and why is it important?



Answer: the conversion funnel provides a useful way to divide the purchase procedure into steps so that the web team can analyze where in the process the consumers are and where they are having difficulty or abandoning the purchasing procedure.

Name two KPIs for each of the following websites:

Name two KPIs for each of the following websites:



-Amazon.com: Average order value/ Revenue per visit

-AceAccountingService.com (a local CPA firm): unique visitor/conversion rate

-NYTimes.com: Visits/ average page depth

-Instagram.com: New account sign up/Post

-Travelocity.com:Conversion rate/ Searches

Explain the difference between a pageview and a unique pageview.

Explain the difference between a pageview and a unique pageview.



-Unique Pageviews: Some visits will hit the page several times removing these double counts can give a more realistic view about a pages volume or traffic.
-Pageview- or "hit". occurs any time a user assesses a page on a website.

What are four of the "many" ways you can improve a web form?

What are four of the "many" ways you can improve a web form?



1. remove unnecessary form fields
2. make a submission button that stands out
3. include a note that the form won't take long to fill out
4. frame the form so that it stands out on the page

What are the four types of landing pages and appropriate search phrases that go with each.

What are the four types of landing pages and appropriate search phrases that go with each.



1. Subscription landing page- media site
2. Long-Copy landing page- very specific product
3. Single-Product landing page- samsung galaxy X5
4. Multi-Product landing page- Discount runner shoes
5. Lead-generation landing page-carpet cleaner, plummer

What is A/B Testing and why do you need to use it?

What is A/B Testing and why do you need to use it?



Answer: A/B testing involves creating two versions of an ad, showing both at random across the ad network, and allowing the numbers to determine which ad is more effective.

All else being equal, will a remarketing ad cost more or less on a CPC basis than other ads? Why?

All else being equal, will a remarketing ad cost more or less on a CPC basis than other ads? Why?



Answer: Remarketing is a very profitable advertising technique. The advertiser is able to target visitors with a demonstrated interest in his site, resulting in a higher conversion rate and higher profitability. The ad network makes more money because it can charge advertisers a higher rate to target these visitors. Because the ad network shares ad revenue with web publishers on a percentage basis, the publishers also make more money. Finally, the web users can be considered better off as a result, because the ads they see are more likely to be for websites from which they are interested in buying.

In other words, Remarketing ad cost more because you are willing to pay more for people who are already interested

The Google Display Ad Planner gives an estimate of both the number of cookies per week and the number of impressions per week likely to be reached with a given targeting method. What is the difference between cookies per week and impressions per week?

The Google Display Ad Planner gives an estimate of both the number of cookies per week and the number of impressions per week likely to be reached with a given targeting method. What is the difference between cookies per week and impressions per week?



Answer: Impressions is how many times the ads will be seen, cookies is the number of unique cookies that actually access the ads.

Name the three types of bidding available to advertisers in an ad network.

Name the three types of bidding available to advertisers in an ad network.



1.) CPC Bidding (Cost per click)- The advertiser only pays when the displayed ad is clicked, which means the advertiser pays only when the ad brings a visitor to the website. So if an advertiser pays $0.50 CPC, and an ad yields 50 clicks, the advertiser would owe $25 regardless whether the ad was shown 1,000 times or 100,000 times.

2.) CPM Bidding (Cost per mile) -the payment method of traditional advertising. If a magazine charges $20 CPM for a full-page advertisement and it has a circulation of 250,000, an advertiser would have to pay $5000 for a full page ad in the magazine ($20 times 250)

3.) CPA Bidding (cost-per-acquisition)-enables advertisers to pay only when their advertisements result in successful conversions. If a website sells flags, and the advertiser bid $10 CPA, she would owe $10 every time an ad led to a flag purchase on her website. So if her ads led to 10 purchases, she would owe $100 regardless of whether those ads brought 100 or 1,000 visitors to her website

Describe the circumstances surrounding increasing and decreasing the CPC bids on Adwords.

Describe the circumstances surrounding increasing and decreasing the CPC bids on Adwords.



Advertisers set bids to tell the search engines what they are willing to pay per click. Often, the advertisers are charged much less than what they bid. This auction model Google uses is called a second-price auction. In a second-price auction, the winner does not pay what he bid but instead pays a penny more than the bid of the next-highest bidder. In AdWords, rather than paying the CPC amount he bid, an advertiser will pay one penny more than the bid of the advertiser below him.

What three factors go into calculating an ad's Quality Score?

What three factors go into calculating an ad's Quality Score?



-Quality score is a measurement of how relevant your ads, keywords, and landing page are to a person seeing your ad.

1.Expected CTR
2.Ad relevance
3.Landing page experience

What are the different math formulas for calculating successful PPC (Adwords) campaigns?

What are the different math formulas for calculating successful PPC (Adwords) campaigns? 




Answer:


Understand strategies on how to increase these values.
Click through rate(CTR)= ( Clicks / Impressions) * 100
Conversion rate= number of buyers/number of visitors
Return on Advertising spending(ROAS)= (Total Revenue/Total Adspend) × 100
Cost per acquisition(CPA)=total amount of money spent on advertising/total number of sales completed

Effectively written search ads have

Effectively written search ads have



Answer:

-Effective title
-Display and Destination URL
-Description

Why do certain domains have higher popularity? What are some strategies to obtain links and to improve popularity if you find your webpage in a bad link neighborhood?

Why do certain domains have higher popularity? What are some strategies to obtain links and to improve popularity if you find your webpage in a bad link neighborhood?



-they have more pages, optimized, heavily promoted.

-update content, make sure fresh, ask for links from good sources, ask bad links to stop linking with you or you'll report them

What was the main issues with the Penguin update?

What was the main issues with the Penguin update?



Google saw that the anchor text for several websites was over-optimized. Google found that websites with over-optimized anchor text were often manufacturing these backlinks (i.e. using black-hat techniques to generate these links).

Unpaid referral traffic comes from what?

Unpaid referral traffic comes from what?



-Unpaid search referral traffic comes when a user clicks on an organic search result.
-refers to any visitors that come to the website from any links that are not paid for (ex: blogs)


Name three types of website traffic

Name three types of website traffic



1. Direct Traffic
(an internet user types the website's URL directly into the browser)
2. Referral Traffic (an internet user clicks on a link to the site from another site)
3. Search Traffic (an internet user clicks on a link to the site from a search engine results page.)

What does IP in 'IP address' stand for?

What does IP in 'IP address' stand for?



Internet Protocol.
-The internet protocol is a standardized set of procedures for locating computers connected to the internet and for transferring information from one computer to another.

What is the fundamental difference between HTML and PHP?

What is the fundamental difference between HTML and PHP?



-HTML(Hyper-text markup language) is static, client user side based.
-PHP is server side based.

-Web browsers process HTML language. Both HTML and Javascript are client-side languages that web browsers (software that displays web-pages-Internet explorer, Firefox, Chrome, Safari) process to display webpages.

Grocers in neighborhoods with a large Hispanic population typically carry more brands that Hispanic consumers prefer than grocers in other neighborhoods. This is an example of ________.

Grocers in neighborhoods with a large Hispanic population typically carry more brands that Hispanic consumers prefer than grocers in other neighborhoods. This is an example of ________.


A. undifferentiated marketing
B. local marketing
C. concentrated marketing
D. individual marketing
E. differentiated marketing


Answer: B. local marketing

Florida Orange Juice Growers Co-op uses a tag-line from time-to-time to stimulate consumers thinking about what time of the day is appropriate to drink OJ. The tag-line is: "Florida Orange Juice, It's Not Just for Breakfast Anymore." The use of this tag-line to tries to increase market share by manipulating the _________ base of Segmentation.

Florida Orange Juice Growers Co-op uses a tag-line from time-to-time to stimulate consumers thinking about what time of the day is appropriate to drink OJ. The tag-line is: "Florida Orange Juice, It's Not Just for Breakfast Anymore." The use of  this tag-line to tries to increase market share by manipulating the _________ base of Segmentation.


A. Psychographic
B. Reverse
C. Micro-Marketing
D. Behavioral


Answer: D. Behavioral

Red-Bone pet food produces a product line of dog chow that is created to feed working dogs and yet another that is made for show dogs. The marketers at Red-Bone have decided to create a dog food that will be specifically formulated for older, adult dogs (elderly dogs). At Red-Bone, the marketers target the dog food market using the ____________________approach.

Red-Bone pet food produces a product line of dog chow that is created to feed working dogs and yet another that is made for show dogs. The marketers at Red-Bone have decided to create a dog food that will be specifically formulated for older, adult dogs (elderly dogs). At Red-Bone, the marketers target the dog food market using the ____________________approach.


A. Micro-Marketing
B. Concentrated
C. Differentiated
D. Reverse


Answer: C. Differentiated

In lecture there were certain considerations when creating a market segment that must be given attention. In many states the only way to make a product purchase (from certain product categories) is to prove your age with a photo ID. When grouping consumers to target, the marketer uses age to discern ___________________ to purchase within the product category when grouping consumers.

In lecture there were certain considerations when creating a market segment that must be given attention. In many states the only way to make a product purchase (from certain product categories) is to prove your age with a photo ID. When grouping consumers to target, the marketer uses age to discern ___________________ to purchase within the product category when grouping consumers.


A. Option
B. Choice
C. Authority
D. Willingness


Answer: C. Authority

______ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

______ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.


A. Market targeting
B. Positioning
C. Mass marketing
D. Differentiation
E. Market segmentation


Answer: B. Positioning

At one time, Miller Beer was known as the "champagne of bottled beer." It was targeted at an elite class of customers. Later, to increase sales, Miller was repositioned to attract members of the working, middle-class. What is this segmentation method called

At one time, Miller Beer was known as the "champagne of bottled beer." It was targeted at an elite class of customers. Later, to increase sales, Miller was repositioned to attract members of the working, middle-class. What is this segmentation method called


A. Usage rate
B. Psychographic
C. User status
D. Behavioral
E. Benefit


Answer: B. Psychographic

Heeltoe, a boutique that caters to the footwear needs of women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on ________ variables.

Heeltoe, a boutique that caters to the footwear needs of women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on ________ variables.


A. psychographic
B. behavioral
C. universal
D. geographic
E. demographic


Answer: E. demographic

Many marketers think that companies should aggressively promote only one benefit to the target market. The benefit promoted is known as a(n) ________.

Many marketers think that companies should aggressively promote only one benefit to the target market. The benefit promoted is known as a(n) ________.


A. unique selling proposition
B. unique difference proposition
C. unique benefit proposition
D. unique product proposition
E. unique position proposition


Answer: A. unique selling proposition

Focusing all the marketing efforts of a company on one segmentation group is also known as "putting all your eggs in one basket". It's a risky approach to segmentation but one that can be very profitable when your customer embraces the specific product you provide for them. Which of the following academic marketing term does the above refer too

Focusing all the marketing efforts of a company on one segmentation group is also known as "putting all your eggs in one basket".  It's a risky approach to segmentation but one that can be very profitable when your customer embraces the specific product you provide for them. Which of the following academic marketing term does the above refer too


A. the Undifferentiated Approach
B. the Concentrated Approach
C. the Differentiated Approach
D. the Micro-Marketing Approach


Answer: B. the Concentrated Approach

A company can differentiate itself from competitors using symbols such as McDonald's golden arches, Twitter's bird, and the Nike swoosh. Which type of differentiation is this

A company can differentiate itself from competitors using symbols such as McDonald's golden arches, Twitter's bird, and the Nike swoosh. Which type of differentiation is this


A. People differentiation
B. Channel differentiation
C. Image differentiation
D. Product differentiation
E. Services differentiation


Answer: C. Image differentiation

Byron Tied 2 Bowties groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Byron Tied 2 Bowties creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its market

Byron Tied 2 Bowties groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Byron Tied 2 Bowties creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its market


A. Demographics
B. Geography
C. Behavior
D. Personality
E. Benefits sought


Answer: B. Geography

Marketers must be careful to guard against stereotypes when using ________.

Marketers must be careful to guard against stereotypes when using ________.




A. psychographic segmentation
B. demographic segmentation
C. income segmentation
D. age and life cycle segmentation
E. benefits segmentation


Answer: D. age and life cycle segmentation

H2Coast, an automobile manufacturer, produces fuel-efficient hybrid vehicles that are targeted toward middle-income consumer groups. H2Coast most likely segments the consumer market based on ________ variables.

H2Coast, an automobile manufacturer, produces fuel-efficient hybrid vehicles that are targeted toward middle-income consumer groups. H2Coast most likely segments the consumer market based on ________ variables.


A. geographic
B. demographic
C. universal
D. psychographic
E. behavioral


Answer: B. demographic

The marketing manager at Arbor's Delicatessen targets customers who are working to lose weight but who still want to dine out. The restaurant chain offers a wide variety of low-fat, low-calorie meals that appeal to dieters. Arbors' approach is best referred to as ________ segmentation.

The marketing manager at Arbor's Delicatessen targets customers who are working to lose weight but who still want to dine out. The restaurant chain offers a wide variety of low-fat, low-calorie meals that appeal to dieters. Arbors' approach is best referred to as ________ segmentation.


A. geographic
B. benefit
C. user status
D. psychographic
E. age and life cycle


Answer: D. psychographic

In lecture, one segmentation base was outlined as being one-dimensional but economical to access the variables belonging to such. Which of the following segmentation bases was being discussed

In lecture, one segmentation base was outlined as being one-dimensional but economical to access the variables belonging to such. Which of the following segmentation bases was being discussed


A. Geographic
B. Demographic
C. Reverse Segmentation
D. Use-Related


Answer: B. Demographic

When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________.

When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________.


A. identifying and targeting late adopters

B. pushing one-way commercials at customers

C. withdrawing from online social networks

D. developing print and radio advertisements

E. generating person-to-person brand conversations


Answer: E. generating person-to-person brand conversations

According to lecture, a product/brand that is purchased once or twice every 2-3 years where the consumer conducts product Information Search in both external and internal ways is probably considered which type of product

According to lecture, a product/brand that is purchased once or twice every 2-3 years where the consumer conducts product Information Search in both external and internal ways is probably considered which type of product


A. Specialty
B. Shopping
C. Commodity
D. Convenience


Answer: B. Shopping

Trisha is an avid collector of stamps. Trisha's collection is worth a lot of money and represents a good deal of time spent searching through stamp fairs and online outlets. One stamp that has elluded her dates back to the Civil War. After many years of online searching, Trisha has found the rare stamp and has been in contact with the seller but he would like a very high price for the stamp. For Trisha, the Information Search Stage of the Consumer Decision Process can be characterized as predominately ___________________ and the risk for Trisha's purchase of the rare stamp is ____________________.

Trisha is an avid collector of stamps.  Trisha's collection is worth a lot of money and represents a good deal of time spent searching through stamp fairs and online outlets. One stamp that has elluded her dates back to the Civil War. After many years of online searching, Trisha has found the rare stamp and has been in contact with the seller but he would like a very high price for the stamp. For Trisha, the Information Search Stage of the Consumer Decision Process can be characterized as predominately ___________________ and the risk for Trisha's purchase of the rare stamp is ____________________.


A. Extensive, Functional
B. Internal, Financial
C. Unsought, Functional
D. External, Financial


Answer: D. External, Financial

A purse company's ads feature the members of a popular housewives reality show. Product sales increase significantly among the fans. From the fans' viewpoint, the housewives reality show is a(n) _____.

A purse company's ads feature the members of a popular housewives reality show. Product sales increase significantly among the fans. From the fans' viewpoint, the housewives reality show is a(n) _____.


A. reference group
B. membership group
C. family group
D. late-majority adopter
E. lagging adopter


Answer: A. reference group

Nate is searching for a product that requires external product Information Search (solely). The product also requires high involvement. Which of the following Problem Solving Methods is Nate mostly likely engaged in

Nate is searching for a product that requires external product Information Search (solely). The product also requires high involvement. Which of the following Problem Solving Methods is Nate mostly likely engaged in


A. Rountinzed
B. Intensive
C. Limited
D. Extended


Answer: D. Extended

Which of the following lists the five steps of the buyer decision process in the correct order

Which of the following lists the five steps of the buyer decision process in the correct order


A. Need recognition, information search, purchase decision, evaluation of alternatives, and postpurchase behavior.

B. Need recognition, information search, evaluation of alternatives, purchase decision, and postpurchase behavior.

C. Need recognition, evaluation of alternatives, information search, purchase decision, and postpurchase behavior.

D. Need recognition, purchase decision, information search, evaluation of alternatives, and postpurchase behavior.

E. Purchase decision, need recognition, information search, evaluation of alternatives, and postpurchase behavior.


Answer: B. Need recognition, information search, evaluation of alternatives, purchase decision, and postpurchase behavior.

Wilden is knee-deep in the Fall semester of studies and socializing. He cannot stay awake during this late night of studying so he heads down to the vending for a pick-me-up. He would love a Five Hour Energy shot but is disappointed to see it's not available in the machine. He chooses another drink with caffeine to try to stay awake. For the brand Five Hour Energy, the sale was lost because their Intensity of Distribution is NOT __________________.

Wilden is knee-deep in the Fall semester of studies and socializing. He cannot stay awake during this late night of studying so he heads down to the vending for a pick-me-up. He would love a Five Hour Energy shot but is disappointed to see it's not available in the machine. He chooses another drink with caffeine to try to stay awake. For the brand Five Hour Energy, the sale was lost because their Intensity of Distribution is NOT __________________.


A. Intensive
B. Exclusive
C. Extensive
D. Selective


Answer: A. Intensive

What is the first step of the buyer decision process

What is the first step of the buyer decision process


A. Purchase decision
B. Postpurchase behavior
C. Information search
D. Alternative evaluation
E. Need recognition


Answer: E. Need recognition

Betty has just realized that she forgot to buy butter as she tries to make Chocolate Chip Cookies. In terms of Problem Recognition, Betty has just defined her _______________________.

Betty has just realized that she forgot to buy butter as she tries to make Chocolate Chip Cookies. In terms of Problem Recognition, Betty has just defined her _______________________.


A. Problem State

B. Actual State

C. Determinant State

D. Desired State


Answer: B. Actual State

According to lecture, Level of Involvement from the Marketing Matrix is defined as:

According to lecture, Level of Involvement from the Marketing Matrix is defined as:


A. Problem Solving Method and Risk Involved

B. Time Spent, Complexity of Decision Making and Risk Involved

C. Intensity of Distribution and Type of Product

D. Type of Search, Risk Involved and Intensity of Distribution


Answer: B. Time Spent, Complexity of Decision Making and Risk Involved

According to the model of buyer behavior, what is in a buyer's black box

According to the model of buyer behavior, what is in a buyer's black box


A. Attitudes and preferences

B. The four Ps

C. Cultural forces

D. The buyer's characteristics and the buyer's decision process

E. Purchase behavior


Answer: D. The buyer's characteristics and the buyer's decision process

What determines if a buyer is satisfied or dissatisfied with a purchase

What determines if a buyer is satisfied or dissatisfied with a purchase


A. Whether or not the buyer experiences cognitive dissonance

B. The amount of information gathered in the decision process

C. The number of alternatives considered in the purchase decision

D. The relationship between the consumer's expectations and the product's perceived performance

E. How others feel about the purchase


Answer: D. The relationship between the consumer's expectations and the product's perceived performance

Luke is headed to buy an engagement ring for his future bride. He plans to purchase a ring that is between $6-7,000 and is at least a one carrot diamond, yellow gold. He walks out of the jewelry store having spent $6,500 and the ring is a 3/4 carrot diamond, white gold. For Luke the determinant attribute(s) were:

Luke is headed to buy an engagement ring for his future bride. He plans to purchase a ring that is between $6-7,000 and is at least a one carrot diamond, yellow gold. He walks out of the jewelry store having spent $6,500 and the ring is a 3/4 carrot diamond, white gold. For Luke the determinant attribute(s) were:


A. Carrot size
B. Money Spent
C. Carrot size and gold color
D. Money Spent, carrot size and gold color


Answer: B. Money Spent

Which of the following would be good advice for someone that is conducting marketing research in a foreign country

Which of the following would be good advice for someone that is conducting marketing research in a foreign country


A. Reaching respondents in other parts of the world is more difficult than it is in the U.S.

B. Language translation will be easy.

C. Globalization has slowed down, so international research is no longer necessary.

D. You can easily find good secondary data in most foreign markets.

E. Consumers in foreign markets generally enjoy participating in marketing research.


Answer: A. Reaching respondents in other parts of the world is more difficult than it is in the U.S.

Competitive marketing intelligence is primarily responsible for _____________.

Competitive marketing intelligence is primarily responsible for _____________. 


A. defining the problem

B. using primary data over secondary

C. developing the research plan

D. the systematic collection and analysis of publicly available information

E. implementing the research plan


Answer: D. the systematic collection and analysis of publicly available information

Why is it important for a company to collect both primary and secondary data when conducting marketing research

Why is it important for a company to collect both primary and secondary data when conducting marketing research


A. To ensure the data is usable

B. To have a "full picture" of the subject of its study

C. To avoid complaints that the study is not reliable

D. To keep costs down

E. To guarantee the product being researched will be successful


Answer: B. To have a "full picture" of the subject of its study

Which of the following is NOT a step in the marketing research process

Which of the following is NOT a step in the marketing research process


A. Interpreting and reporting the findings
B. Implementing the research plan
C. Defining the research problem
D. Developing the research plan
E. Comparing research findings to other studies


Answer: E. Comparing research findings to other studies

Which of the following statements about big data is correct

Which of the following statements about big data is correct


A. One result of big data is that marketing managers are often overloaded and overwhelmed with information.

B. Big data actually refers to very small data sets.

C. Analyzing big data will always lead to useful customer insights.

D. Big data is very important because marketers today need more information to make good decisions.

E. Analyzing big data is a very easy task.


Answer: A. One result of big data is that marketing managers are often overloaded and overwhelmed with information.

Cupcakes by Cindy is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST place for this company to start to develop an efficient MIS

Cupcakes by Cindy is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST place for this company to start to develop an efficient MIS


A. Determine how to use the information gathered by market research.

B. Distribute necessary information to the marketing team.

C. Assess the information needs of the company.

D. Conduct surveys or focus groups to gather information.

E. Analyze the information gathered in market research.


Answer: C. Assess the information needs of the company.

An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his job

An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his job


A. Track the clicks of customers on websites.

B. Inform customers of the company's privacy policy.

C. Compile an exhaustive resource of customer data.

D. Use customer data in such a way to convince customers to buy products.

E. Scour consumer financial information.


Answer: B. Inform customers of the company's privacy policy.

A company is conducting market research to determine the best areas to sell its product. It has already determined its research questions. What is the next step of this company's research plan

A company is conducting market research to determine the best areas to sell its product. It has already determined its research questions. What is the next step of this company's research plan


A. Determine the best method to conduct research.

B. Define the problem.

C. Analyze potential data sources.

D. Share the data with other companies in similar situations.

E. Collect the data


Answer: E. Collect the data

Lydia's Lights wants to extend its market into Mexico. Before jumping in, the company needs to conduct some in-depth research to gauge customer's needs, interests, and buying patterns. Which of the following is the BEST option for Lydia's Lights

Lydia's Lights wants to extend its market into Mexico. Before jumping in, the company needs to conduct some in-depth research to gauge customer's needs, interests, and buying patterns. Which of the following is the BEST option for Lydia's Lights


A. Send researchers door-to-door to collect the data from target consumers.

B. Send out a survey by mass e-mail to the target consumers.

C. Set up a call center to be the base for researchers to telephone the target consumers.

D. Deliver surveys to the target consumers through the mail.

E. Gather only secondary data to minimize expenses.


Answer: A. Send researchers door-to-door to collect the data from target consumers.

Which kind of company would most benefit from conducting marketing research

Which kind of company would most benefit from conducting marketing research


A. Neither large multinationals like Disney and IBM nor small locals truly need market research.

B. Only medium-sized companies that are about half the size of Disney and IBM need market research.

C. Only large multinationals like Disney and IBM need market research.

D. Both large multinationals like Disney and IBM and small locals truly need market research.

E. Only small locals like Beatrice's Bistro need market research.


Answer: D. Both large multinationals like Disney and IBM and small locals truly need market research.

Sky owns a small hot air balloon company in Albuquerque, New Mexico. He recently started a Facebook page for his company and many of his customers are asking for store-sponsored hot air balloon trips. They believe Sky's expertise would make him the perfect guide. Sky decides to host quarterly hot air balloon trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be drawn from Sky's situation

Sky owns a small hot air balloon company in Albuquerque, New Mexico. He recently started a Facebook page for his company and many of his customers are asking for store-sponsored hot air balloon trips. They believe Sky's expertise would make him the perfect guide. Sky decides to host quarterly hot air balloon trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be drawn from Sky's situation


A. Most small businesses have no way of easily accessing customer insights.

B. Customer insights can provide valuable information to a small businesses.

C. Customer insights are emotional and often irrelevant to a small business.

D. Customer insights can be gained only through costly market research.

E. Customer insights are not dependable


Answer: B. Customer insights can provide valuable information to a small businesses.

To develop needed information, marketing information systems utilize _________.

To develop needed information, marketing information systems utilize _________.


A. internal databases, marketing research, and marketing managers

B. internal databases, marketing intelligence, and marketing research

C. marketing managers, information users, and internal databases

D. marketing intelligence, marketing research, and the marketing environment

E. internal databases, big data, and market research


Answer: B. internal databases, marketing intelligence, and marketing research

You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In exchange, you receive a small payment. You are participating in a(n) ________.

You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In exchange, you receive a small payment. You are participating in a(n) ________.


A. focus group interview
B. ethnographic study
C. immersion group
D. individual interview
E. experiment


Answer: A. focus group interview

Many companies build extensive electronic collections of consumer and market information obtained from data sources within the company's network. This is known as ___________.

Many companies build extensive electronic collections of consumer and market information obtained from data sources within the company's network. This is known as ___________.


A. online marketing research

B. marketing intelligence

C. an internal database

D. an intranet

E. marketing research


Answer: C. an internal database

Which of the following BEST describes the purpose of the customer insights team

Which of the following BEST describes the purpose of the customer insights team


A. To represent the company to its customers

B. To instruct other company departments in customer service

C. To develop new markets of customers for the company

D. To advertise new products to customer bases

E. To create more value for customers


Answer: E. To create more value for customers

Which of the following BEST describes the research relationships

Which of the following BEST describes the research relationships


A. Observation is best suited for descriptive research, surveys for causal research, and experiments for exploratory research.

B. Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research.

C. Observation is best suited for causal research, surveys for exploratory research, and experiments for descriptive research.

D. Observation is best suited for exploratory research, surveys for causal research, and experiments for descriptive research.

E. Observation is best suited for descriptive research, surveys for exploratory research, and experiments for causal research.


Answer: B. Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research.

Which of the following statements about online research is correct

Which of the following statements about online research is correct


A. Online research is only feasible for large companies.

B. Online surveys generally have higher response rates than those conducted by mail or phone.

C. It is more expensive to conduct online research than to do a mail, phone, or personal interview.

D. Focus groups are rarely conducted online.

E. Experiments cannot be conducted online.


Answer: B. Online surveys generally have higher response rates than those conducted by mail or phone.

The role of a company's marketing information system (MIS) is important because ______________.

The role of a company's marketing information system (MIS) is important because ______________.


A. it enables a company to use customer insights to improve relationships with customers

B. it ensures that the company will have good customer service

C. it allows a company to outperform its competitors in the marketplace

D. it increases the likelihood that a customer will buy a product

E. it maintains the company's internal database of customers


Answer: A. it enables a company to use customer insights to improve relationships with customers

What is MIS

What is MIS


A. Competitive marketing intelligence
B. A customer insights team
C. A marketing information system
D. Customer relationship management
E. An internal database


Answer: C. A marketing information system

_______ consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.

_______ consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.


A. Big data
B. Marketing information
C. Marketing analytics
D. Touch points
E. CRM


Answer: C. Marketing analytics

A colleague needs to collect descriptive data about his customer's attitudes. He has not done this type of research before. What research approach would you recommend to best suit this research project

A colleague needs to collect descriptive data about his customer's attitudes. He has not done this type of research before. What research approach would you recommend to best suit this research project


A. An ethnographic study
B. A survey
C. Secondary data
D. An experiment
E. Observation


Answer: B. A survey

A power tool company wants to give its customers access to internal, non-public information about how best to use its product in creative ways. What should the company create to provide customers with this information

A power tool company wants to give its customers access to internal, non-public information about how best to use its product in creative ways. What should the company create to provide customers with this information


A. A data warehouse
B. A company intranet
C. A company data mine
D. A company extranet
E. A company website


Answer: D. A company extranet

The role of a company's marketing intermediaries is to do which of the following

The role of a company's marketing intermediaries is to do which of the following


A. Provide the resources needed by the company to produce goods and services

B. Purchase the company's product

C. Determine which products a company should market

D. Manage the company's human resources efforts

E. Help the company find, promote, sell, and distribute products


Answer: E. Help the company find, promote, sell, and distribute products

In lecture, Generational Marketing was defined and discussed. It was pointed out that a large flaw in this type of marketing is _________________________.

In lecture, Generational Marketing was defined and discussed. It was pointed out that a large flaw in this type of marketing is _________________________.


A. grouping generations can get very expensive.

B. cohort groups for generations are defined in five year spans.

C. grouping generations can require a large database and a high level of expertise.

D. cohort groups for generations are defined in twenty year spans.


Answer: D. cohort groups for generations are defined in twenty year spans.

Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six years, sales have continuously declined and profits have almost completely disappeared. The CEO of Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to Tina's Tunes

Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six years, sales have continuously declined and profits have almost completely disappeared. The CEO of Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to Tina's Tunes


A. Tina's Tunes is likely to fail because it is ignoring the current political environment.

B. Tina's Tunes is likely to fail because it is ignoring the technological environment.

C. Tina's Tunes is likely to fail because it is ignoring the natural environment.

D. Tina's tunes are likely to prosper as mistrust in the digital age increases.

E. Tina's Tunes will experience a rebound as the fear of the Great Recession declines.


Answer: B. Tina's Tunes is likely to fail because it is ignoring the technological environment.

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