Marketing MBA-565-TPB1

Quiz 1

Question 1 (5 points)

 

If you are marketing a computer software product used in local area networks, which of the following would best describe the population or universe of the study?

Question 1 options:

	Marketing managers
	Finance managers
	Board of directors
	Network managers

Question 2 (5 points)

 

The first step in the marketing research process is:

Question 2 options:

	collecting information to solve the problem.
	designing a questionnaire.
	defining the problem.
	collecting data.

Question 3 (5 points)

 

Personal interactions with survey respondents could lead to answers that would not be given otherwise. This gives rise to the potential for:

Question 3 options:

	Focus bias
	Nonresponse bias
	Interviewer bias
	Tolerance bias

Question 4 (5 points)

 

Marketing research is most commonly used to:

Question 4 options:

	refine new product concepts.
	create job descriptions for various roles in the marketing department.
	develop a training program for the marketing manager.
	determine the key responsibility areas for the marketing manager.

Question 5 (5 points)

 

Which of the following is an example of an internal source of secondary data?

Question 5 options:

	A trade publication
	A past marketing plan
	An academic publication
	A trade association

Question 6 (5 points)

 

In the __________ of forecasting, the marketing manager might simply rely on his or her own opinion to predict sales, based on experience and other qualitative knowledge gained from reading trade publications and talking to industry representatives at trade shows.

Question 6 options:

	Delphi method
	executive opinion method
	sales force method
	moving averages method

Question 7 (5 points)

 

A scanner panel is related to the purchase of:

Question 7 options:

	groceries.
	computer hardware.
	financial services.
	electronic products.

Question 8 (5 points)

 

Which judgmental method takes the most current sales and adds a judgmentally determined x percent, where x is the estimated percentage change in sales?

Question 8 options:

	Linear extrapolation
	Moving averages
	Exponential smoothing
	Naïve extrapolation

Question 9 (5 points)

 

Which of the following is a causal method of sales forecasting?

Question 9 options:

	Delphi method
	Moving average
	Executive opinion
	Correlation

Question 10 (5 points)

 

Which of the following methods of forecasting sales is implemented by forming a jury of experts from a diverse population?

Question 10 options:

	Delphi method
	Executive opinion method
	Moving averages method
	Sales force method

Question 11 (5 points)

 

A competition is inward oriented in which of the following types of competition?

Question 11 options:

	Product form competition and product category competition
	Product category competition and budget competition
	Product category competition and generic competition
	Product form competition and generic competition

Question 12 (5 points)

 

Which of the following statements is true regarding a product form competition?

Question 12 options:

	It provides the closest set of competitors.
	It is useful in the long run.
	It is a wide definition of competition.
	It represents the true underlying competitive dynamics.

Question 13 (5 points)

 

If a marketing manager observes that a competitor has increased his price and decreased his marketing budget, it would be an example of which of the following?

Question 13 options:

	A retreat, although only temporary
	Quality differentiation
	Aggressive competition for market share
	Price differentiation

Question 14 (5 points)

 

Because the key to success in business is obtaining and keeping customers, the most crucial form of competition is generally __________ competition, in which competition occurs for the same customers.

Question 14 options:

	generic
	product form
	product category
	budget

Question 15 (5 points)

 

Which of the following types of competition can be defined as products or services that the customer views as fulfilling the same need?

Question 15 options:

	Product category competition
	Product form competition
	Generic competition
	Budget competition

Question 16 (5 points)

 

In game theory, __________ is a graphic depiction of the rewards or costs to each player for each possible combination of strategies.

Question 16 options:

	responsibility matrix
	perceptual matrix
	payoff matrix
	communication matrix

Question 17 (5 points)

 

Which of the following primary sources is excellent in determining competitor sales pitches, pricing, and other aspects of their activity?

Question 17 options:

	Employees
	Internet newsgroup
	Sales force and customers
	Suppliers

Question 18 (5 points)

 

Which of the following is a good source of secondary information?

Question 18 options:

	Employees
	The company sales force
	Customers
	Annual reports

Question 19 (5 points)

 

The industries in which one company has historically chosen to be the first in changing price or making some other marketing-mix or strategic decision, __________ concept of game theory is used.

Question 19 options:

	prisoner’s dilemma
	Nash equilibrium
	best strategy
	leader-follower

Question 20 (5 points)

 

The value proposition offered by the competitors and the marketing mix used by them will most likely fall under which of the following parts of the competitor analysis?

Question 20 options:

	Internal analysis of your firm’s strengths and weaknesses relative to the competitors
	Determination of the competitors’ major objectives
	Assessment of the competitors’ current marketing strategies
	Assessment of the competitors’ strengths and weaknesses

 

 

Quiz 2

Question 1 (5 points)

 

The most popular use of focus groups is for __________ research, a basic understanding of how customers use the product or service in question.

Question 1 options:

	clinical
	phenomenological
	descriptive
	exploratory

Question 2 (5 points)

 

Which of the following is specifically related only to the Zaltman metaphor elicitation technique (ZMET. focus groups)?

Question 2 options:

	It involves a professional moderator.
	It involves usage of images to describe feelings.
	It is a quantitative research method.
	It can be conducted using videoconferencing.

Question 3 (5 points)

 

Which of the following statements is true regarding a focus group?

Question 3 options:

	It usually involves a professional moderator.
	It is a quantitative research method.
	The results obtained can be safely generalized.
	The most popular use of focus groups is for scientific research.

Question 4 (5 points)

 

Which of the following is an external secondary data source?

Question 4 options:

	Call reports submitted by salespeople
	Past transaction information from the accounting department
	Marketing plans used previously
	Trade publications

Question 5 (5 points)

 

Which of the following involves an in-depth study of consumer consumption through interviews and observing behavior, and requires people with a variety of skills beyond marketing research, including anthropology?

Question 5 options:

	Clinical research
	Ethnographic research
	Behavioral research
	Exploratory research

Question 6 (5 points)

 

The maximum sales of a product category reasonably attainable under a given set of conditions within a specified period of time is known as:

Question 6 options:

	market potential.
	market attractiveness.
	market forecast.
	sales forecast.

Question 7 (5 points)

 

Which of the following best describes the degree to which experimental results are actually caused by the experimental manipulation?

Question 7 options:

	External validity
	Internal validity
	Flexibility
	Response rate

Question 8 (5 points)

 

The amount of sales of a product category expected to be achieved under a set of conditions within a specified period of time is known as:

Question 8 options:

	sales forecast.
	market expansion.
	market potential.
	sales development.

Question 9 (5 points)

 

Which of the following is the least expensive method of collecting data?

Question 9 options:

	Focus group
	Mail survey
	Telephone interviews
	Personal interviews

Question 10 (5 points)

 

Which of the following statements is true of a laboratory experiment?

Question 10 options:

	It has low external validity.
	It takes place in a realistic environment.
	It has low internal validity.
	The experimenter cannot control the environment easily.

Question 11 (5 points)

 

Economists often use __________ as an indicator of substitutability.

Question 11 options:

	perceptual mapping
	demand forecasting
	cross-elasticity of demand
	conjoint analysis

Question 12 (5 points)

 

A __________ approach classifies competitors based on customer attitudes and behaviors.

Question 12 options:

	demand-based
	customer-based
	market-based
	supply-based

Question 13 (5 points)

 

__________ is the percentage change in one product’s sales due to a percentage change in a marketing variable (such as price. for another product.

Question 13 options:

	Supply-elasticity
	Demand-elasticity
	Reverse-elasticity
	Cross-elasticity

Question 14 (5 points)

 

Which of the following examples best represents product form competition in drip coffee machine category?

Question 14 options:

	Other brands of coffee drip machines
	Juicers and water purifiers
	Pots and pans
	Percolators and espresso machines

Question 15 (5 points)

 

Which of the following levels of competition can be determined from observation and external data sources?

Question 15 options:

	Product form and product category
	Product category and generic
	Product form and budget
	Product form and generic

Question 16 (5 points)

 

Which of the following is the most difficult kind of competition to assess because it cannot be observed readily and competitors may be numerous?

Question 16 options:

	Budget and generic
	Product form and generic
	Product category and budget
	Product form and product category

Question 17 (5 points)

 

While searching information about the market, it is convenient to begin the search with this source of information. Identify it.

Question 17 options:

	Patent and trademark filings
	Annual report
	Government sources
	Internal sources

Question 18 (5 points)

 

__________ game theory seeks to predict the behavior of rational, intelligent firms competing independently.

Question 18 options:

	Cooperative
	Noncooperative
	Dynamic
	Static

Question 19 (5 points)

 

Which of the following best describes a sophisticated, long-term version of the simulation process?

Question 19 options:

	Multidimensional scaling
	Regression analysis
	Scenario planning
	Conjoint analysis

Question 20 (5 points)

 

Industries with __________ significant competitors offer the best potential for using game theory.

Question 20 options:

	two or fewer
	four or fewer
	ten or more
	five or more

 

 

Quiz 3

Question 1 (5 points)

 

In technology-based markets, the marketing manager must understand who are the different customers that will purchase the product at the introductory stage of the product life cycle and who will purchase the product as it matures. Which of the following types of customers will be the last to buy the product?

Question 1 options:

	Late majority
	Laggards
	Early majority
	Innovators

Question 2 (5 points)

 

According to the VALS system developed by SRI International, __________ are mature, satisfied comfortable people who value order, knowledge and responsibility.

Question 2 options:

	strivers
	believers
	thinkers
	innovators

Question 3 (5 points)

 

As a result of the search for alternatives through internal and external information sources, customers form three different sets of options. The __________ set is the set of products from which the customer will choose to purchase.

Question 3 options:

	prioritized
	inert
	purchase
	evoked

Question 4 (5 points)

 

Which of the following stages of the family life cycle best describes young married couples with younger children under age 6?

Question 4 options:

	Full nest I
	Empty nest I
	Newly married couples
	Full nest III

Question 5 (5 points)

 

Which of the following is one of the three sets of options that result from using internal and external information sources when seeking purchase alternatives?

Question 5 options:

	Consideration set
	Recognition set
	Prioritized set
	Alternative set

Question 6 (5 points)

 

Which of the following analyses is more useful for trend-spotting than for developing segments for individual brands?

Question 6 options:

	SWOT analysis
	Factor analysis
	Regression analysis
	Cohort analysis

Question 7 (5 points)

 

The __________ model is any model in which a low score on one attribute can be offset by a higher score on another.

Question 7 options:

	attribution
	segmentation
	compensatory
	cluster

Question 8 (5 points)

 

When marketing a product to an organization, it is vital to understand that:

Question 8 options:

	the purchaser is the only person needed to be focused on.
	many individuals are involved in the purchase decision.
	innovators are not sure of what they want.
	initiators do not have any impact on the purchase situation.

Question 9 (5 points)

 

Which of the following stages in a buying sequence will result in a specific option or set of options from which price, delivery, system compatibility, and other characteristics can be determined?

Question 9 options:

	Request proposals
	Search for and qualify potential suppliers
	Establish specifications
	Determine the characteristics

Question 10 (5 points)

 

In a __________, the purchasing organization realizes that the problem cannot be solved without buying something new.

Question 10 options:

	straight rebuy situation
	new-task situation
	repetition purchase
	modified rebuy situation

Question 11 (5 points)

 

Which one of the examples below best characterizes a modified rebuy?

Question 11 options:

	Purchasing airline tickets under a new fare schedule
	Purchasing paper clips for the office
	Purchasing the first local intranet for a small business
	Purchasing toner for the office

Question 12 (5 points)

 

According to the classification system for global organizational culture as developed by Hofstede, which of the following dimensions indicates the extent to which less powerful parties accept the existing distribution of power and the degree to which adherence to formal channels is maintained?

Question 12 options:

	Ambiguity tolerance
	Power distance
	Uncertainty avoidance
	Long-term orientation

Question 13 (5 points)

 

The selling organization tries to be in the __________ of as many customers as possible.

Question 13 options:

	inert set
	evoked set
	complementary set
	supplementary set

Question 14 (5 points)

 

Industrial products are normally more complex than consumer products. It means that industrial companies are more likely to be:

Question 14 options:

	technology focused rather than market focused.
	customer focused rather than product focused.
	market focused rather than customer focused.
	product focused rather than customer focused.

Question 15 (5 points)

 

A good source of information about how to improve customer loyalty is to examine:

Question 15 options:

	customers who defect.
	potential customers.
	new customers.
	current customers.

Question 16 (5 points)

 

A major benefit of the lifetime customer value (LCV) and profitability analyses is to permit the marketing manager to make informed decisions about:

Question 16 options:

	which customers to keep.
	where to find new customers.
	which customers to target.
	which competitors to avoid.

Question 17 (5 points)

 

Which of the following information is contained in a customer information file (CIF)?

Question 17 options:

	Description of competitors
	Rules and regulations affecting the business of the organization
	Contact history of the customers
	Rates charged by key suppliers

Question 18 (5 points)

 

Net Promoter is a metric introduced by Reichheld in his 2003 Harvard Business Review article “The One Number You Need to Grow.” This metric indicates:

Question 18 options:

	product quality.
	customer profitability.
	customer loyalty.
	relative position of the organization in the industry.

Question 19 (5 points)

 

Successful communities on the Internet offer participants:

Question 19 options:

	sample of the product before actually purchasing the product.
	free services for maintaining and repairing the product.
	a sense of place with codes of behavior.
	discounts on the price of the product.

Question 20 (5 points)

 

A group of customers who share information between themselves and the company about their experiences with the product or service is most likely to be known as a:

Question 20 options:

	focus group.
	community.
	cohort.
	quality circle.