1. (TCO C) The science of using psychology and demographics to better understand consumers is defined as____________.
2. (TCO C) Which of the following statements about market segmentation is true? (Points : 6)
It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market.
It is a process of evaluating each segment’s attractiveness and selecting one or more to enter.
It is a process of creating an image or identity of the product in the minds of the target market.
It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.
It is the quality of how marketers go to market with the goal of optimizing their spending to achieve good results.
3. (TCO A) Which of the following is one of the five major characteristics of good mission statements?
They focus on a large number of goals.
They expand the range of individual employee discretion.
They define the major competitive spheres within which the company will operate.
They take a short-term view.
They are long and comprehensive to ensure that all critical concepts are included.
4. (TCO C) Which of the following statements is true of marketing plans?
They can be independently developed without worrying about other functional areas.
They provide direction and focus for a brand, product, or company.
They are usually profit-oriented.
They are of limited use to non-profit organizations.
They are typically five-year plans and they lay out the strategies required to achieve targets in those five years.
5. (TCO B) Which of the following is true of qualitative research?
It is a structured measurement approach that permits a range of possible responses.
It is indirect in nature, so consumers may be less guarded.
It requires large sample sizes.
Its results can be easily generalized to broader populations.
It generally results in similar results and conclusions across researchers.
6. (TCO B) Any occasion on which a customer encounters the brand and product—from actual experience to personal or mass communications to casual observation is a customer ________ .
point of order
point of difference
point of parity
7. (TCO C) ________ is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants)
8. (TCO C) With respect to consumer decision making, the ________ is the set of strong contenders from which one will be chosen as a supplier of a good or service.
9. (TCO A) Samuel Adams trains his company’s sales force to go after the consumer. Sam repeatedly asks his team to bear in mind the essential fact that it is the sales team’s responsibility to rouse the consumer’s interest and make him feel that he needs the product. A true salesman is one who can convert an indifferent consumer walking into the store into a new customer. Sam believes in the ________ concept.
10. (TCO A) Companies put forth a ________, a set of benefits that they offer to customers to satisfy their needs.