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Question 1.Which of the following BEST describes an underlying trend towards an increasing number of farmers markets in the summer of 2011?

  • Changes in resource availability shift the balance of supply and demand.
  • Customer demand is rarely stable, necessitating demand forecasts.
  • When demand surges past supply, marketers can practice demarketing.
  • Changes in income affect consumer demand, which in turn affects suppliers’ earnings.

Question 2.Which of the following is NOT a likely use of a marketing dashboard?

  • Providing campaign performance data to marketing managers.
  • Making the results of predictive modeling available to the company’s sales staff.
  • Allowing senior executives to launch new marketing campaigns based on historical sales information.
  • Giving planners access to return on marketing investment (ROMI) data about a campaign.

Question 3.Which of the following was NOT described as an economic factor in the macro-environment that affects consumer purchasing power?

  • Changes in income
  • Demarketing
  • Deflation
  • Inflation

Question 4.Consider a typical consumer search for a new pair of casual slacks. Which answer best describes the degree of involvement required, based upon the purchase category?

  • Extended problem solving, typical of specialty products.
  • Limited problem solving, typical of convenience products.
  • Routine problem solving, typical of convenience products.
  • Limited problem solving, typical of shopping products.

Question 5.What is the first step in the segmentation process?

  • Group products into categories with similar prices.
  • Group buyers into potential target market segments.
  • Develop potential market actions based on brand image and market position.
  • Estimate potential return on investment.

Question 6.Which of the following factors was NOT described in Chapter 8 as important in the global business environment?

  • Level of economic development.
  • Lack of demographic data availability.
  • Value and volatility of the country’s currency.
  • Political will to place value on environmental protection.

Question 7.What purpose was stated in Chapter 7 for the market research technique of “perceptual mapping”?

  • To identify potentially successful positioning strategies by comparing products, brands, or companies.
  • To evaluate potential products or brands that consumers might place in their consideration set.
  • To identify whether a product/service might be sold to both business and consumer markets.
  • To identify dimensions of competition that are important to potential consumers of a product
  • or brand.

Question 8.Which answer reflects the second of the four steps in the process by which consumers’ emotions influence their purchase decisions?

  • Consumer feels motivation to satisfy a need.
  • Consumer becomes aware of a need.
  • Emotion awakens a consumer’s need.
  • Consumer makes a purchase.

Question 9.Which of the following answers is the BEST example of trigger marketing?

  • Nathaniel bought a big-screen TV on April 30th. On June 15th, he receives an email offer for a 30% discount on home theater electronics.
  • Doug and Sally cancelled their cell phone contract. Their provider used their profile data to purge similar records from their prospect database.
  • Bernard searched for round-trip flight online. The travel website he used captured his email address for future marketing campaigns.
  • Meredith grouped prospects in her marketing database into segments based on their likelihood to use her department store’s in-house financing.

Question 10.Which answer BEST conveys how technological and ecological concerns are related?

  • When federal regulations mandating recycling of technology wastes are passed, firms should look for ways to circumvent these policies.
  • As each new technology replaces an older technology, the solitary focus should be on driving greater sales.
  • A “cradle to cradle” technology design philosophy allows materials to be continually repurposed, reducing demands on nonrenewable resources.
  • The resource requirements of technology products throughout their lifecycle can affect the natural environment and vice versa.

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