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Department
Marketing
Course
MKT 100
Professor
jh
Semester
Winter

Description
 What type of research technique best describes the following activities:  go to people's homes to observe how they actually live,  give subjects Polaroid cameras to garner impressions of their business trip at the hotel,  give beepers to subjects and beep them every time they want the person to write down their impression of a particular experience Answer Selected Answer: c. Observational research. Correct Answer: c. Observational research.  Question 2 1 out of 1 points General Motors targets several different market segments and designs separate automobile makes and models for each. This is an example of _____. Answer Selected Answer: a. differentiated marketing Correct Answer: a. differentiated marketing  Question 3 0 out of 1 points Complete the following sentence with the best answer. "A price skimming strategy ____________________." Answer Selected Answer: a. Is illegal if the price is set lower than the firm’s average cost. Correct Answer: c. Is more likely to attract competitors.  Question 4 1 out of 1 points If you sell below your average cost what type of pricing is this called and why would you do it? Answer Selected Answer: b. Predatory pricing; to drive out competition. Correct Answer: b. Predatory pricing; to drive out competition.  Question 5 1 out of 1 points Which of the following best describes the term "market positioning?" Answer Selected Answer: d. The place the product occupies in consumer's minds relative to competing products. Correct Answer: d. The place the product occupies in consumer's minds relative to competing products.  Question 6 1 out of 1 points Your pricing manager at Itchy Scratchy industries is Mr. Pardo, and he is at it again, insisting you offer a 25% off discount coupon to consumers on your Ginger line of $100 blankets. The coupon is redeemed via the mail and the offer expires 90 days post purchase which leads to a 50% redemption rate. You have suggested offering a flat 15% discount to the distributors so they can pass it on to the retailers. Past experience indicates that they always pass it on and thus you are assured the customers will see the discount. Considering general consumer practice, what is the best strategy to follow: yours or Mr. Pardo's? Answer Selected c. Answer: Mr. Pardo's - Many consumers don't even notice, much less use the rebate. Plus, with the redemption rate considered, the 25% reduction will be effective for price sensitive consumers and potentially won't impact those who are less price sensitive. Correct c. Answer: Mr. Pardo's - Many consumers don't even notice, much less use the rebate. Plus, with the redemption rate considered, the 25% reduction will be effective for price sensitive consumers and potentially won't impact those who are less price sensitive.  Question 7 1 out of 1 points Identify the most accurate statement about product development: Answer Selected d. Answer: Usually Beta tests are simple performance tests that determines whether or not the product works in customer usage situations. Correct d. Answer: Usually Beta tests are simple performance tests that determines whether or not the product works in customer usage situations.  Question 8 0 out of 1 points After making a purchase, consumers might deal with postpurchased dissonance, whereas business buyers: Answer Selected Answer: d. promote initiators and minimize the impact of influencers Correct Answer: c. conduct a vendor analysis  Question 9 0 out of 1 points Although social media is used to build relationships in B2B contexts, the majority of B2B marketers use _____ for their marketing efforts. Answer Selected Answer: c. take away brochures Correct Answer: a. whitepapers  Question 10 1 out of 1 points A university in Holland does research on first names. They researched millions of names and found several trends based on the frequency of certain names given to children and the coherence in names within family households. With this information they defined eight different name groups. They then coupled the name groups to geographic, demographic, lifestyle and psychographic information. They found similarities within each name group in terms of what they would buy by mail-order, what they ordered through postal services, the number of cell phones per family and what kind of magazines they read. What would a marketer with a large database that includes first and last names, and whose goal was to address high income readers, do to test the validity of this information? Answer Selected b. Answer: They should use this information to further segment their existing target segmentation cluster and then run a trial campaign and compare these results with their original segmentation cluster sales results. Correct b. Answer: They should use this information to further segment their existing target segmentation cluster and then run a trial campaign and compare these results with their original segmentation cluster sales results.  Question 11
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