Saintleo MKT301 Quiz 2 Latest 2019 January

MKT301 Principles of Marketing

Quiz 2

Question 1Regardless
of where you travel in the world, a Starbucks looks like a Starbucks. They
remain very consistent. What type of global strategy are they using?

Conformation

Adaptation

Market consistency

Standardization

Coffee con leche

Question 2Which of
these is the best definition of the segmentation concept of “persona”

The promotional
strategy a firm uses for a given segment

The lifetime value a
firm assigns to a group of consumers

The personality of any
given segment of consumers

A name and a set of
characteristics that describe the segment

The psychographic
traits that define a group of consumers

Question 3What is the
first step in the marketing research process?

deciding the research
design

selecting which
consumers we will study

selecting our primary
research plan

determining the business or managerial problem
we are solving

getting a good grade
in applied decision methods

Question 4Dave plans
to include Saint Leo’s core values in his new social media platform. If he
wants to appeal to students that believe strongly in our values what type of
segmentation is he using?

Social

Psychographic

Ethical

Demographic

Cultural

Question 5For a sample
to be truly random what must be true

it must distinguish
between different members of the population

it must focus on only
those fitting a specific profile

a sample can never be
truly random – there is always bias

all members of the
population must have an equal chance of being selected

the sample must contain
some members of all ages and races

Question 6Age, gender,
income, education, family size and national origin would be used in what type
of segmentation?

Psychographic

Demographic

Seasonal

Occasion

Geographic

Question 7Which of the
following would you expect to have a short product lifecycle?

bottled water

peanut butter

pickup trucks

teen fashion

soft drinks

Question 8Which of
these best describes the marketing practice of the selling concept?

It focuses on a “hard
sell” of product goods even if the consumer is not looking for them

It is considered to be
very consumer friendly

It tends be build a
strong lifetime value with the consumer

It is responsible for
building strong brand loyalty

It benefits customers
more than many other marketing strategies

Question 9Retailers
such as LUSH are targeting customers that are concerned about the impact their
purchases have on the environment and society. What trend in retailing best
describes this?

Socially conscious
retailing

Tree hugger retailing

Green retailing

Progressive retailing

Micro target retailing

Question 10Outdoor
World has everything any hunter or fisherman could want, all under one roof
including a display of hunting trophies and a swimming pool full of bass to
test fishing gear. What kind of retailer is Outdoor World?

Socially conscious
retailing

Destination retailing

NRA retailing

Gender targeted
retailing

Micro target retailing

Question 11The firm
that makes Betty Sue’s Down Home Pork Rinds found that their best customers
enjoy NASCAR, pro wrestling, family gatherings, and are politically
conservative. These are considered to be the __________ of the market segment

psychographics or
lifestyle

customer attributes

demographics

media choices

social planning
elements

Question 12The
quantitative (numerical) segmentation factors that help a marketing manager
decide where, and to whom, to sell the firm’s products such as age, race,
gender, and income are known as:

communications
planning

market planning

lifestyle choices

numeric profile

demographics

Question 13Research
and experience shows that most supermarkets are able to draw customers from
approximately a five mile radius; however, Trader’s Joe’s draws from a much
larger area due to their image and special products. If Trader Joe’s uses this
phenomenon in developing a persona for a group of customers, this would be an
example of what type of segmentation?

Demographic

Price

Psychographic

Geographic

Branded

Question 14Better
Value Shoes is planning to conduct some market research to determine their
strategy for the next year. What is the FIRST step in their process?

Selecting a primary
research method

Using the secondary
research they already have

Selecting their target
audience

Determining the
business problem and research objectives

Writing a report on
their proposed outcomes

Question 15 Better Value is planning on conducting a
series of focus groups. What type of research are they conducting?

Exploratory

Secondary

Segmented

Primary

Customer focused

Question 16 Better Value has years of industry
records showing what shoes sold best in what stores and at what time of year.
They have assigned their intern Susan to dig through these records and write a
report. What type of research is she conducting?

Internal

Sales

Financial

Exploratory

Secondary

Question 17Better Value
Shoes is planning on surveying consumers regarding what is most important to
them when shopping for shoes. If they want a truly random sample what must be
true of those that are selected to participate?

They must give honest
answers

They must be in the
target audience

They must each have an
exactly equal chance of being selected to participate

They must agree to be
in the research

All of them must be
customers of Better Value

Question 18The process
of products entering the market, growing in sales and then being replaced is
called the ___________________.

Supply chain

Marketing cycle

Product mix

Product lifecycle

None of these

Question 19Famous
Foods has a brand of mayonnaise that is hugely popular ad has been a household
staple for years. In which phase of the product lifecycle is the mayo?

Stable

Cash cow

Market leader

Mature

Consumer favorite

Question 20Famous
Foods introduced a new brand of holiday candy that briefly popular, however
sales have dropped quickly and they are discounting the product to move out of
inventory. In which phase of the product lifecycle is the candy?

Inventory reduction

Clearance

Loss leader

Replacement

Decline