1. A resort employs _______ when it shifts the firm's target market from singles to families.
A. multisegmentation
B. undifferentiation
C. customization
D. repositioning
2. _______ occurs when resources of any variety are transferred between the parties to a transaction.
A. Commerce
B. Exchange
C. Marketing
D. Puffery
3. A mail-order company that uses PRIZM employs _______ segmentation.
A. geographic
B. demographic
C. geodemographic
D. psychographic
4. The items people own, the services they use, and the activities they engage in are byproducts of _______ actions.
A. networking
B. marketing
C. global
D. high-involvement
5. Which of the following is an example of the concentration targeting strategy?
A. A tailor who individualizes each suit for each customer
B. A cruise line that advertises to families and singles
C. A toy manufacturer that makes some toys for children and some for adults
D. A retailer that sells gadgets for left-handed people only
6. If fewer people can afford the cost of a college education, this will drastically impact consumer behavior. In a recent survey of college pricing, the College Board reported that "moderate" college budgets for in-state public colleges and private colleges for the 2015–2016 academic year averaged approximately _______, respectively.
A. $20,000 and $35,000
B. $10,000 and $30,000
C. $24,000 and $48,000
D. $15,000 and $40,000
7. Which of the following is an example of demographic segmentation?
A. A shoe producer who targets the heaviest users of sandals
B. A newspaper that targets teenagers
C. A mail-order business that segments their market by Zip code
D. A restaurant that targets vegetarians
8. Ava posted a message on the app Nextdoor, asking her neighbors if they knew of a store that sold vintage hats. She received several replies. Which of the following best describes this situation?
A. The power of agents of change
B. The influence of opinion leaders
C. Word-of-mouth communication
D. High-involvement purchasing
9. What do marketers attempt to do in each stage of the customer lifecycle?
A. Advertise to the consumer about their other product offerings
B. Maintain their customers for life
C. Improve their customer centricity via touchpoints
D. Convince consumers to buy their product
10. Which of the following describes PersonicX household-level segmentation system?
A. It characterizes six distinct types of households.
B. It was developed by Nielsen Claritas.
C. It enables marketers to reach targeted segments both on- and offline.
D. It assigns colorful labels to segments such as "Young Digerati" and "Shotguns and Pickups."
11. Which of the following statements about the pay gap between college graduates and everyone else in American society is true?
A. It has remained constant in recent years.
B. It has narrowed in recent years.
C. It has disappeared altogether.
D. It has widened over the years.
12. Which of the following concepts pertains to the discipline of psychology?
A. Norms
B. Culture
C. Motivation
D. Values
13. Which of the following statements best reflects the marketing concept?
A. Quality of life is more important than standard of living.
B. The consumer is the center of all business activities.
C. Always target the largest number of segments that resources allow.
D. Positioning is the most important element of marketing.
14. Due to its influence on the way a home operates, a family's decision to purchase a dog would most likely be a/an _______ decision.
A. high-involvement
B. zero-involvement
C. low-involvement
D. unnecessary
15. Studies reveal that the annual medical cost of obesity in 2015 was around _______ billion, and marketers have been quick to capitalize on this.
A. $55
B. $29
C. $98
D. $147
16. Which of the following is an example of behavioral segmentation?
A. A resort that targets families with children
B. A restaurant that targets senior citizens
C. A health club that targets college students
D. A florist that targets those who buy the most flowers
17. What three customer attributes are AIO inventories designed to reveal?
A. Access, intuition, and ownership
B. Age, involvement, and oversaturation
C. Activities, interests, and opinions
D. Aspiration, inspiration, and orientation
18. Which of the following statements about a company that implements the marketing concept is true?
A. It puts consumers at the forefront of its activities.
B. It spends more on advertising than competitors.
C. It charges lower prices than competitors.
D. It considers selling to be the most important function of the firm.
19. Which of the following statements about perceptual maps is true?
A. They chart the location of major metropolitan markets.
B. They help marketers visually profile the differences among a number of brands that compete in the marketplace.
C. They help marketers divide consumers into different values and lifestyle categories.
D. They break down a metropolitan market by Zip codes and demographic characteristics.
20. The value of the dollar is tied to that of the euro. What does this mean?
A. A stronger euro lowers the cost of goods the United States imports from overseas.
B. A weaker euro raises the cost of goods the United States imports from overseas.
C. A stronger dollar raises the cost of goods the United States imports from overseas.
D. A weaker dollar raises the cost of goods the United States imports from overseas.
A. multisegmentation
B. undifferentiation
C. customization
D. repositioning
2. _______ occurs when resources of any variety are transferred between the parties to a transaction.
A. Commerce
B. Exchange
C. Marketing
D. Puffery
3. A mail-order company that uses PRIZM employs _______ segmentation.
A. geographic
B. demographic
C. geodemographic
D. psychographic
4. The items people own, the services they use, and the activities they engage in are byproducts of _______ actions.
A. networking
B. marketing
C. global
D. high-involvement
5. Which of the following is an example of the concentration targeting strategy?
A. A tailor who individualizes each suit for each customer
B. A cruise line that advertises to families and singles
C. A toy manufacturer that makes some toys for children and some for adults
D. A retailer that sells gadgets for left-handed people only
6. If fewer people can afford the cost of a college education, this will drastically impact consumer behavior. In a recent survey of college pricing, the College Board reported that "moderate" college budgets for in-state public colleges and private colleges for the 2015–2016 academic year averaged approximately _______, respectively.
A. $20,000 and $35,000
B. $10,000 and $30,000
C. $24,000 and $48,000
D. $15,000 and $40,000
7. Which of the following is an example of demographic segmentation?
A. A shoe producer who targets the heaviest users of sandals
B. A newspaper that targets teenagers
C. A mail-order business that segments their market by Zip code
D. A restaurant that targets vegetarians
8. Ava posted a message on the app Nextdoor, asking her neighbors if they knew of a store that sold vintage hats. She received several replies. Which of the following best describes this situation?
A. The power of agents of change
B. The influence of opinion leaders
C. Word-of-mouth communication
D. High-involvement purchasing
9. What do marketers attempt to do in each stage of the customer lifecycle?
A. Advertise to the consumer about their other product offerings
B. Maintain their customers for life
C. Improve their customer centricity via touchpoints
D. Convince consumers to buy their product
10. Which of the following describes PersonicX household-level segmentation system?
A. It characterizes six distinct types of households.
B. It was developed by Nielsen Claritas.
C. It enables marketers to reach targeted segments both on- and offline.
D. It assigns colorful labels to segments such as "Young Digerati" and "Shotguns and Pickups."
11. Which of the following statements about the pay gap between college graduates and everyone else in American society is true?
A. It has remained constant in recent years.
B. It has narrowed in recent years.
C. It has disappeared altogether.
D. It has widened over the years.
12. Which of the following concepts pertains to the discipline of psychology?
A. Norms
B. Culture
C. Motivation
D. Values
13. Which of the following statements best reflects the marketing concept?
A. Quality of life is more important than standard of living.
B. The consumer is the center of all business activities.
C. Always target the largest number of segments that resources allow.
D. Positioning is the most important element of marketing.
14. Due to its influence on the way a home operates, a family's decision to purchase a dog would most likely be a/an _______ decision.
A. high-involvement
B. zero-involvement
C. low-involvement
D. unnecessary
15. Studies reveal that the annual medical cost of obesity in 2015 was around _______ billion, and marketers have been quick to capitalize on this.
A. $55
B. $29
C. $98
D. $147
16. Which of the following is an example of behavioral segmentation?
A. A resort that targets families with children
B. A restaurant that targets senior citizens
C. A health club that targets college students
D. A florist that targets those who buy the most flowers
17. What three customer attributes are AIO inventories designed to reveal?
A. Access, intuition, and ownership
B. Age, involvement, and oversaturation
C. Activities, interests, and opinions
D. Aspiration, inspiration, and orientation
18. Which of the following statements about a company that implements the marketing concept is true?
A. It puts consumers at the forefront of its activities.
B. It spends more on advertising than competitors.
C. It charges lower prices than competitors.
D. It considers selling to be the most important function of the firm.
19. Which of the following statements about perceptual maps is true?
A. They chart the location of major metropolitan markets.
B. They help marketers visually profile the differences among a number of brands that compete in the marketplace.
C. They help marketers divide consumers into different values and lifestyle categories.
D. They break down a metropolitan market by Zip codes and demographic characteristics.
20. The value of the dollar is tied to that of the euro. What does this mean?
A. A stronger euro lowers the cost of goods the United States imports from overseas.
B. A weaker euro raises the cost of goods the United States imports from overseas.
C. A stronger dollar raises the cost of goods the United States imports from overseas.
D. A weaker dollar raises the cost of goods the United States imports from overseas.
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