MKT 301 Principles of Marketing
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?
Coffee con leche
Question 2Which of these is the best definition of the segmentation concept of â€œpersonaâ€
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 Leoâ€™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?
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 â€“ 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?
Question 7Which of the following would you expect to have a short product lifecycle?
Question 8Which of these best describes the marketing practice of the selling concept?
It focuses on a â€œhard sellâ€ 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
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
Gender targeted retailing
Micro target retailing
Question 11The firm that makes Betty Sueâ€™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
social planning elements
Question 12The quantitative (numerical) segmentation factors that help a marketing manager decide where, and to whom, to sell the firmâ€™s products such as age, race, gender, and income are known as:
Question 13Research and experience shows that most supermarkets are able to draw customers from approximately a five mile radius; however, Traderâ€™s Joeâ€™s draws from a much larger area due to their image and special products. If Trader Joeâ€™s uses this phenomenon in developing a persona for a group of customers, this would be an example of what type of segmentation?
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?
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?
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 ___________________.
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?
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?