A market is defined as _

MKTG 490; Ch 3& 4 MIDTERM EXAM Quiz

A “market” is defined as ___

a. all of the buyers for a particular product

b. all potential buyers for a particular product

c. all future buyers for a particular product

d. all of the targeted buyers for a potential product

e. None of the above

2. The two primary types of “markets” to analyze are ___

a. consumers and customers

b. private and public

c. paying and nonpaying

d. male and female

e. None of the above

3. A “broad definition of the market” includes all of the following levels EXCEPT?

a. Potential

b. Available

c. Quantified

d. Target

e. b & c

4. For the rental car market, a driver who can afford rental fees in the service area is ___

a. Potential market

b. Available market

c. Target market

d. Penetrated market

e. None of the above

5. What is used by marketing planners as a “vital sign” of marketplace potential or problems?

a. Market share

b. Customer satisfaction

c. Sales trends

d. Demand forecasts

e. All of the above

5. Which of the following is NOT a primary research source for consumer markets?

a. U.S. Census Bureau

b. Consumer Reports

c. United Nations statistics

d. NAICS data

e. b & d

6. Which of the following is NOT a primary research source for business markets?

a. U.S. Census Bureau

b. Industry Week

c. United Nations statistics

d. NAICS data

e. a & c

7. What are the two main market research methods?

a. consumer and business

b. survey and focus group

c. empirical and ethnographic

d. domestic and global

e. None of the above

8. Which of the following is NOT a primary influence on consumers?

a. Cultural considerations

b. Statistical considerations

c. Personal factors

d. All of the above

e. None of the above

9. Which of the following is NOT a primary influence on business customers?

a. Organizational commitments

b. Organizational coordination

c. Organizational contributions

d. All of the above

e. None of the above

10. Which “broad market” level applies to upscale health clinic patients without insurance?

a. Potential market

b. Available market

c. Qualified available

d. Target market

e. Penetrated market

11. Which “broad market” level applies to insured heart patients at a cancer center?

a. Potential market

b. Available market

c. Qualified available

d. Target market

e. Penetrated market

12. Which “broad market” level applies to insured mothers with children visiting a pediatric clinic for a follow-up appointment?

a. Potential market

b. Available market

c. Qualified available

d. Target market

e. Penetrated market

13. Which “broad market” level applies to upscale health clinic patients without insurance?

a. Potential market

b. Available market

c. Qualified available

d. Target market

e. Penetrated market

 

14. Which “influences on consumers” do NOT apply to cosmetic surgery patients?

a. Cultural considerations

b. Social considerations

c. Personal factors

d. All of the above DO APPLY

e. None of the above APPLY

15. Which “influences on business customers” applies MOST to online purchasers of medical supply planning to store products in inventory

a. Organizational connections – digital network participants

b. Organizational considerations – derived demand

Chapter 4

1. A ________ consists of a group of customers who share a similar set of needs and wants.

  1. market target

b. market group

  1. market slice
  2. market segment
  3. market level

1. If a marketer decides that segmenting a market based on neighborhoods, the marketer will have chosen the ________ method of segmentation.

a. demographic

b. psychographic

c. geographic

d. cultural

e. social class

2. ________ is the science of using psychology and demographics to better understand consumers.

a. Psychographics

b. Segmentation

c. Clustering

d. Demographics

e. Social psychology

3. A marketing manager is considering several options to market to market segments identified as being either culture-oriented, sports-oriented, or outdoor-oriented. This manager has selected the ________ format for segmenting markets.

a. personality

b. behavioral occasions

c. user status

d. psychographic lifestyle

e. readiness stage

4. The two ways that large firms can cover a whole market (e.g., full market coverage strategy) are through ________ and differentiated marketing.

a. undifferentiated

b. logistical

c. psychological

d. niche

e. macromarketing

5. In ________ marketing, the firm operates in several market segments and designs different products for each segment.

a. segmented

b. undifferentiated

c. differentiated

d. geodemographic

e. niche

6. Business markets can be segmented according to the following variables, EXCEPT __.

a. demographic

b. geographic

c. psychographic

d. behavioral

e. All of the above can be used for business markets

7. When “assessing segment attractiveness” which of the following factors is NOT included?

a. Market factors

b. Ecological factors

c. Competitive factors

d. Business environment factors

e. All of the above are included

8. Volatile economic fluctuations in a selected market segment is addressed by ___

a. Market factors

b. Community factors

c. Economic and technological factors

d. Business environment factors

e. All of the above are included

9. How are marketers gaining deeper insights to sharpen the focus on segment customers?

a. Probes

b. Personas

c. Portraits

d. Profiles

e. None of the above

10. Which strategic technique is intended to achieve “meaningful differentiation”?

a. branding

b. diversification

c. positioning

d. value proposition

e. None of the above

11. Which pair strategic techniques profiles the extrinsic and intrinsic customer factors?

a. external and internal environments

b. tangibles and intangibles

c. segmentation and positioning

d. monetary and nonmonetary

e. None of the above

12. Positioning techniques chart the brand values and benefits using a ___

a. bar chart

b. lifestyle map

c. perceptual map

d. trend graph

e. None of the above

13. U.S. automotive market segmentation for hybrid and eco-friendly cars uses ___

a. Demographic profiles

b. geographic profiles

c. psychographic profiles

d. All of the above

e. None of the above

14. U.S. automotive companies position sports cars using ___

a. affordability

b. luxury

c. convenience

d. fuel economy

e. None of the above

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