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Department
Management (MGM)
Course
MGMA01H3
Professor
Janelle Leboutillier
Semester
Summer

Description
Summer 2009 CMKT200 DA0/DB0 - MARKETING II (DEU_CMKT200S09_01) > TOOLS > MY GRADES > VIEW ATTEMPTS > REVIEW ASSESSMENT: CMKT200 QUIZ 4 Review Assessment: CMKT200 Quiz 4 User Nazira Rahmani Submitted 7/17/09 2:53 PM Name CMKT200 Quiz 4 Status Needs Grading Score 18 out of 25 points Time Elapsed 1 hours, 6 minutes, and 29 seconds out of 0 hours and 35 minutes allowed. Instructions Question 1 out of 1 points 1 Ace Shoe Company sells heel replacement kits for men's shoes. It has fixed costs of $6 million and unit variable costs of $5 per pair. Suppose a consultant tells Ace it can sell 700,000 heel repair kits, what price must it charge to achieve a profit of $2.5 million? Selected Answer: A. $17.14 Correct Answer: A. $17.14 Feedback: Use the break-even formula and solve for price. Let P stand for price.700,000 = [2,500,000 + 6,000,000]/[P - 5]P = $17.14 Question 1 out of 1 points 2 All of the following are examples of internal secondary data EXCEPT: Selected Answer: D. Nielsen ratings reports for Ontario purchased by an organization. Correct Answer: D. Nielsen ratings reports for Ontario purchased by an organization. Feedback: Nielsen ratings reports for Ontario purchased by an organization is an example of an external secondary data source. Question 0 out of 1 points 3 The following question that appears on a questionnaire, “Did you serve any healthy, nutritious meals last week?” is most likely an example of a(n): Selected Answer: B. unanswerable question. Correct Answer: A. leading question. Feedback: It is a leading question that is biased toward respondent giving a socially desirable answer and saying he or she served healthy, nutritious meals. Question 1 out of 1 points 4 Which of the following projects has the greatest NPV? Use a RRR =10% Project Investment Net Income Net Income Net Income Net Income Yr1 Yr2 Yr3 Yr4 A (100,000) $100,000 $20,000 $40,000 $0 B (100,000) $50,000 $40,000 $40,000 $0 C (100,000) $60,000 $40,000 $40,000 $25,000 D (100,000) $25,000 $25,000 $50,000 $50,000 Selected Answer: A. Project A Correct Answer: A. Project A Question 1 out of 1 points 5 Statistics Canada completes the Census of Canada once every decade, which gives detailed information on Canadian households. This service provides: Selected Answer: C. external secondary data. Correct Answer: C. external secondary data. Feedback: External secondary data is published data from outside the organization. Question 1 out of 1 points 6 A Designer is opening a business from home and is trying to understand his operating costs. Which of the following would be NOT be considered a fixed cost. Selected Answer: D. Printing costs for drawings for clients Correct Answer: D. Printing costs for drawings for clients Question 7 1 out of 1 points The National Health Interview Survey is conducted annually by the Centers for Disease Control and Prevention. By examining information gathered from sampling it was able to announce that 14.1 percent of all Americans lacked health care insurance in 2001. A health care organization doing research on patient nonpayment would refer to this information as _____ data. Selected Answer: D. secondary Correct Answer: D. secondary Feedback: Secondary data are facts and figures that have already been recorded before the project. Question 8 0 out of 1 points Calculate the Net present value of a customer for Virgin Mobile for the next 4 years. Use a discount rate of 5%. It costs $325 to acquire a customer. The net revenues generated by the customer are as follows: Year 1 $125, Year 2 $250, Year 3 $250 Year 4 $250 Selected Answers: Cannot be determined Correct Answers: 442 Question 1 out of 1 points 9 “Have you been to a dentist within the past 6 months? ___Yes ___No?” is an example of which type of question? Selected Answer: D. dichotomous Correct Answer: D. dichotomous Feedback: This question is the simplest form of a fixed alternative question. It only supplies two alternatives; therefore, it is a dichotomous question. Question 0 out of 1 points 10 When conducting marketing experiments, the dependent variable can often describe any of the following EXCEPT: Selected Answer: A. attitudes highly correlated to actual purchase behaviour. Correct Answer: E. marketing mix variables. Feedback: The change in behaviour (or its surrogates, such as preferences, attitudes or intentions) is what constitutes a dependent variable. Marketing mix elements are experimental independent variables that are manipulated to determine whether changes in purchase behaviour result. Question 1 out of 1 points 11 What type of question is the following? Check your degree of agreement with the following statement: “Marketing is an interesting subject.” ( ) Strongly Agree ( ) Agree ( ) Disagree ( ) Strongly Disagree Selected Answer: A. Likert scale question Correct Answer: A. Likert scale question Feedback: In a Likert scale, the respondent is asked to indicate the extent to which he agrees or disagrees with a statement. Question 12 1 out of 1 points Compared with _____ data, two disadvantages of _____ data are that the latter is usually far more time consuming and more expensive to collect. Selected Answer: D. secondary; primary Correct Answer: D. secondary; primary Feedback: Secondary data consist of information that have been recorded prior to the research at hand. Primary data consist of facts and figures that are newly collected for a current project. Two advantages of secondary data are: time savings and low cost as compared to primary data. Question 13 1 out of 1 points The question, “How many meals will you eat in restaurants in the next year?” is an example of a(n): Selected Answer: C. unanswerable question. Correct Answer: C. unanswerable question. Feedback: It is unlikely that any respondent would know the answer to this question. Question 1 out of 1 points 14 Ships Ahoy is a small company that makes model sailboat kits priced at $120. The costs of the materials that go into each kit are $45. It costs $5 in labor to assemble a kit. The company has monthly expenses of $1,000 for rent and insurance, $200 for heat and electricity, $500 for advertising, and $3,500 for the monthly salary of its owner. Ships Ahoy's unit variable cost for its kits is: Selected Answer: C. $50. Correct Answer: C. $50. Feedback: Unit variable cost is variable cost expressed on a per unit basis - $45 of materials and $5 of labor. Question 1 out of 1 points 15 The owner of a small restaurant that sells take-out fried chicken and biscuits pays $2,500 in rent each month, $500 in utilities, $750 interest on his loan, insurance premium of $200, and advertising on local buses $250 a month. A bucket of take-out chicken is priced at $9.50. Unit variable costs for the bucket of chicken are $5.50. How many small buckets of chicken does the restaurant need to sell to break-even? Selected Answer: C. 1,050 buckets Correct Answer: C. 1,050 buckets Feedback: The break-even point is calculated as fixed costs divided by price minus unit variable costs, or $4,200/($9.50 - $5.50), which equals 1,050 buckets of chicken. Question 0 out of 1 points 16 Assume that the annual profit from a credit-card customer is: Year 1 2 3 4 5 Customer profit $100 $125 $150 $200 $200 Using a RRR of 5% and a retention rate of 75 % Calculate the NPV of the customer Selected Answer: C. Cannot be determined Correct Answer: E. 372 Question 17 1 out of 1 points The following question that appears on a questionnaire, “What is your age? A. less than 20 years old, B. 20 to 40 years old, C. 40 to 60 years old, D. 60 years old or more” is most likely an example of a(n): Selected Answer: D. question with non-mutually exclusive answers. Correct Answer: D. question with non-mutually exclusive answers. Feedback: "Question with non-mutually exclusive answers" is correct because a person who is 40 years old would fall into either category b or c. Also, a person who is 60 years old would fall into either category c or d. Question 18 1 out of 1 points When compared with telephone and mail surveys, which of the following is NOT a characteristic of individual interview surveys? Selected Answer: D. greatest difficulty in establishing rapport with the respondent Correct Answer: D. greatest difficulty in establishing rapport with the respondent Feedback: Personal interviews allow greater opportunity to establish rapport with the respondent than either mail or telephone. Question 19 0 out of 1 points A marketing manager for P&G developed a direct mail marketing campaign to increase sales of Air Fresheners. The following are the costs associated with the campaign. The prospect list cost $20,000, creative costs $10,000, total mailing costs were 60,000, each air freshener cost 75 cents. Included in each direct mail piece was a coupon for 49 cents off the retail price of the Air Freshener. The Air Freshener retails for $6.99 without the coupon. Half of the net retail price goes to channel partners the other half to P&G. How many customers must purchase an air Freshener to Breakeven on the direct mail campaign? Assume all customers use the coupon. Selected Answer: B. 13,846 Correct Answer: C. 36,000 Question 0 out of 1 points 20 At a price of $3 each, SHAPE magazine sells 1.25 million copies of its magazine targeted to young women seeking a healthier lifestyle. If the price is increased to $3.25 each, only 1 million copies will be sold. Fixed costs are $1 million and unit variable costs are $0.50 per magazine. For the information provided here, what is SHAPE magazine's total revenue obtained at the higher price? Selected Answer: B. $3,750,000 Correct Answer: A. $3,250,000 Feedback: Total revenue at the higher price is equal to the price of $3.25 x 1,000,000 copies, or $3,250,000. See Figures 13-6 on page 339 and 13-7 on page 340. Question 1 out of 1 points 21 A publishing company sponsors an informal one-time-only session with an influential college professor who uses a given text. The professor meets to discuss the textbook, its study guide, and the product's competition. This is an example of a(n): Selected Answer: E. depth (or individual) interview. Correct Answer: E. depth (or individual) interview. Feedback: Key term definition - depth interviews Question
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