Question 1
When consumers share a strong need that cannot be satisfied by an existing product, it is called ________.
A) negative demand
B) latent demand
C) declining demand
D) irregular demand
Question 2
Consider the real estate industry. The ________ for this industry includes construction companies, financing institutions, paint manufacturers, interior decorators, furniture manufacturers, and plumbing industries.
A) marketspace
B) latent market
C) need market
D) metamarket
Question 3
When demand is ________, it implies that more customers would like to buy the product than can be satisfied.
A) latent
B) irregular
C) overfull
D) full
Question 4
What is the traditional view of marketing?
A) Firms should just focus on production because if the products are good then they will automatically sell.
B) Firms should just focus on production and selling because marketing occurs as a part of the selling process.
C) Firms should have a proper marketing team that can increase consumers' awareness of their products and rouse their interest in them.
D) Firms should price their products as low as possible so that marketing them becomes easy.
Question 5
The value of an offering is described as ________.
A) the price consumers are charged for a product
B) the cost of manufacturing a product
C) the degree to which consumer demand for a product is positive
D) the sum of the tangible and intangible benefits and costs to customers
Question 6
When consumers share a strong need that cannot be satisfied by an existing product, it is called ________.
A) negative demand
B) latent demand
C) declining demand
D) irregular demand
Question 7
The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.
A) organizational plan
B) strategic marketing plan
C) corporate tactical plan
D) corporate mission
Question 8
________ is a direction or sequence of events that has some momentum and durability; it reveals the shape of the future and can provide strategic direction.
A) fad
B) fashion
c) trend
D) megatrend
Question 9
A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.
A) data warehousing system
B) viral marketing campaign
C) product management system
D) marketing intelligence system
Question 10
Which of the following would be the best illustration of a secondary belief or value?
A) belief in work
B) belief in giving to charity
C) belief in getting married
D) belief in getting married early
Question 11
The ________ phase of marketing research is generally the most expensive and the most prone to error.
A) data collection
B) research planning
C) questionnaire design
D) contact
Question 12
According to the concept of ________, a series of increasingly more specific "why" questions can reveal consumer motivation and consumers' deeper, more abstract goals.
A) word association
B) projection
C) visualizing
D) laddering
Question 13
The ________ phase of marketing research is generally the most expensive and the most prone to error.
A) data collection
B) research planning
C) questionnaire design
D) contact
Question 14
The marketing research process begins by ________.
A) developing a research plan
B) defining the problem, the decision alternatives, and research objectives
C) analyzing the internal environment
D) reading marketing research journals
Question 15
Total customer satisfaction is measured based on the relationship of ________.
A) expected value and total customer benefit
B) perceived performance and expectation
C) advertised outcomes and real outcomes
D) past experience and present experience
Question 16
_______ is the process by which we select, organize, and interpret stimuli into a meaningful and coherent picture.
A) Consumption
B) Perception
C) Acculturation
D) Assimilation
Question 17
________ is the tendency to interpret information in a way that will fit our preconceptions.
a. Selective retention
b. Cognitive dissonance
c. Selective distortion
d. Subliminal perception
Question 18
A given percentage increase in consumer demand can lead to a much larger percentage increase in the demand for plant and equipment necessary to produce additional output. Economists refer to this as:
A) derived demand
B) inelastic demand
C) the acceleration effect
D) a straight rebuy
Question 19
A company's ________ includes all the experiences the customer will have on the way to obtaining and using the offering.
A) value proposition
B) value delivery system
C) customer-value analysis
D) total customer benefit
Question 20
In reordering office supplies, the only stages that the buyer passes through are the product specification stage and the ________ stage.
A) problem recognition
B) general need description
C) order-routine specification
D) performance review
Question 21
The process of building, maintaining, and using customer databases and other databases for the purpose of contacting, transacting, and building customer relationships is called ________.
A) data warehousing
B) data mining
C) database marketing
D) participatory marketing
Question 22
Identify the four pillars of brand equity, according to brand asset valuator model.
A) relevance, performance, bonding, and advantage
B) presence, performance, advantage, and bonding
C) energized differentiation, relevance, esteem, and knowledge
D) brand salience, brand feelings, brand imagery, and brand performance
Question 23
Brand equity can be built by ________, which create(s) equity by linking the brand to other information in memory that conveys meaning to customers.
A) internal marketing
B) brand transferability
C) secondary associations
D) customer alignment
Question 24
____ are associations designed to overcome perceived weaknesses of the brand
A) Conceptual points-of-parity
B) Category points-of-parity
C) Competitive points-of-parity
D) Competitive points-of-difference
Question 25
________ brands are positioned with respect to competitors' brands so that more important (and more profitable) flagship brands can retain their desired positioning.
A) Flanker
B) Attacker
C) Defender
D) Simulation
When consumers share a strong need that cannot be satisfied by an existing product, it is called ________.
A) negative demand
B) latent demand
C) declining demand
D) irregular demand
Question 2
Consider the real estate industry. The ________ for this industry includes construction companies, financing institutions, paint manufacturers, interior decorators, furniture manufacturers, and plumbing industries.
A) marketspace
B) latent market
C) need market
D) metamarket
Question 3
When demand is ________, it implies that more customers would like to buy the product than can be satisfied.
A) latent
B) irregular
C) overfull
D) full
Question 4
What is the traditional view of marketing?
A) Firms should just focus on production because if the products are good then they will automatically sell.
B) Firms should just focus on production and selling because marketing occurs as a part of the selling process.
C) Firms should have a proper marketing team that can increase consumers' awareness of their products and rouse their interest in them.
D) Firms should price their products as low as possible so that marketing them becomes easy.
Question 5
The value of an offering is described as ________.
A) the price consumers are charged for a product
B) the cost of manufacturing a product
C) the degree to which consumer demand for a product is positive
D) the sum of the tangible and intangible benefits and costs to customers
Question 6
When consumers share a strong need that cannot be satisfied by an existing product, it is called ________.
A) negative demand
B) latent demand
C) declining demand
D) irregular demand
Question 7
The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.
A) organizational plan
B) strategic marketing plan
C) corporate tactical plan
D) corporate mission
Question 8
________ is a direction or sequence of events that has some momentum and durability; it reveals the shape of the future and can provide strategic direction.
A) fad
B) fashion
c) trend
D) megatrend
Question 9
A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.
A) data warehousing system
B) viral marketing campaign
C) product management system
D) marketing intelligence system
Question 10
Which of the following would be the best illustration of a secondary belief or value?
A) belief in work
B) belief in giving to charity
C) belief in getting married
D) belief in getting married early
Question 11
The ________ phase of marketing research is generally the most expensive and the most prone to error.
A) data collection
B) research planning
C) questionnaire design
D) contact
Question 12
According to the concept of ________, a series of increasingly more specific "why" questions can reveal consumer motivation and consumers' deeper, more abstract goals.
A) word association
B) projection
C) visualizing
D) laddering
Question 13
The ________ phase of marketing research is generally the most expensive and the most prone to error.
A) data collection
B) research planning
C) questionnaire design
D) contact
Question 14
The marketing research process begins by ________.
A) developing a research plan
B) defining the problem, the decision alternatives, and research objectives
C) analyzing the internal environment
D) reading marketing research journals
Question 15
Total customer satisfaction is measured based on the relationship of ________.
A) expected value and total customer benefit
B) perceived performance and expectation
C) advertised outcomes and real outcomes
D) past experience and present experience
Question 16
_______ is the process by which we select, organize, and interpret stimuli into a meaningful and coherent picture.
A) Consumption
B) Perception
C) Acculturation
D) Assimilation
Question 17
________ is the tendency to interpret information in a way that will fit our preconceptions.
a. Selective retention
b. Cognitive dissonance
c. Selective distortion
d. Subliminal perception
Question 18
A given percentage increase in consumer demand can lead to a much larger percentage increase in the demand for plant and equipment necessary to produce additional output. Economists refer to this as:
A) derived demand
B) inelastic demand
C) the acceleration effect
D) a straight rebuy
Question 19
A company's ________ includes all the experiences the customer will have on the way to obtaining and using the offering.
A) value proposition
B) value delivery system
C) customer-value analysis
D) total customer benefit
Question 20
In reordering office supplies, the only stages that the buyer passes through are the product specification stage and the ________ stage.
A) problem recognition
B) general need description
C) order-routine specification
D) performance review
Question 21
The process of building, maintaining, and using customer databases and other databases for the purpose of contacting, transacting, and building customer relationships is called ________.
A) data warehousing
B) data mining
C) database marketing
D) participatory marketing
Question 22
Identify the four pillars of brand equity, according to brand asset valuator model.
A) relevance, performance, bonding, and advantage
B) presence, performance, advantage, and bonding
C) energized differentiation, relevance, esteem, and knowledge
D) brand salience, brand feelings, brand imagery, and brand performance
Question 23
Brand equity can be built by ________, which create(s) equity by linking the brand to other information in memory that conveys meaning to customers.
A) internal marketing
B) brand transferability
C) secondary associations
D) customer alignment
Question 24
____ are associations designed to overcome perceived weaknesses of the brand
A) Conceptual points-of-parity
B) Category points-of-parity
C) Competitive points-of-parity
D) Competitive points-of-difference
Question 25
________ brands are positioned with respect to competitors' brands so that more important (and more profitable) flagship brands can retain their desired positioning.
A) Flanker
B) Attacker
C) Defender
D) Simulation
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