Wednesday, April 4, 2012

Concepts about Marketing Strategy and Marketing Management(Marketing Management Quiz - 6)

1. When the salesperson told the safety engineer his company needed to buy a mercury clean-up kit, the engineer promptly replied his company did not need such a thing and refused to introduce the salesperson to the company’s purchasing agent. In this instance, the safety engineer acted in which buying center role?

2. Forecasting or estimating the actual size of a market is often a key goal in a marketing research study. Good sales forecasts are important for a firm as it schedules production. Which of the following statements about sales forecasting is true?
[A]The most expensive forms of sales forecasting are trend extrapolation and a survey of experts
[B]With the lost-horse forecast, former customers are asked if they are likely to buy the product again
[C]A lost-horse survey is more expensive to conduct than a survey of buyers' intentions
[D]A sales force survey forecast is less expensive to conduct than trend extrapolation

3. A number of variables can be used to segment consumer markets. Whether a person is a nonuser or a light, medium, or heavy user is important in many segmentation problems. The 80/20 rule is a concept which suggests
[A]Eighty percent of a firm's inventory should be readily available, and twenty percent should be reserved for emergency demand
[B]Eighty percent of a firm's first time users will become brand loyal and twenty percent of the firm's first time users will use the product only once
[C]Eighty percent of a firm's sales are obtained from twenty percent of its customers
[D]Eighty percent of a firm's expenditures are tax deductible and twenty percent are not

4. A local private college has been offering an accounting program for several years. The program has a large but declining enrollment, and the program represents the largest income earner for the business division. The recommended strategic option is/are to

5. WestJet Airlines charges some of the lower prices in the industry. As a result, the airline has been able to reach the mass market and to increase the incidence of air travel among those who might have chosen another means of travel. The company's current pricing policy would best be described as:
[B]Price discrimination

6. When Procter & Gamble introduced Swiffer, a new product to make it easier to clean increasingly popular hardwood floors, it knew it had to achieve high brand awareness among its potential consumers because the product was low-tech and fairly easily imitated. Which promotional element did P & G emphasize?
[B]Personal selling
[C]Sales promotion
[D]Public relations

7. When Steve goes to the grocery store every other week, he buys the same brands of coffee, milk, cereal, and dog food. This type of buying behaviour is called
[A]Routine response behaviour
[B]Extensive decision making
[C]Limited decision making
[D]Situation convenience

8. If Videocon engineers its washing machines to spin the clothes faster regardless of whether or not customers want that speed, then Videocon has characteristics associated with
[A]Production concept
[B]Selling concept
[C]Marketing concept
[D]Product concept

9. The Kewl Clothing Company has just hired you to develop a marketing strategy for their new line of casual wear. The firm wants to target several different ethnic groups, so you suggest a "stitching niches" approach. Which of the following would you use to illustrate your suggestion?
[A]Create a different product for each of the niche markets the firm is targeting
[B]Position the products so they simultaneously meet the needs of the different ethnic groups
[C]Maintain Kewl's core identity by creating different promotional campaigns and brand extensions for the various markets served
[D]Use the same marketing mix that has worked so well for the firm throughout the West Coast

10. Prasad is trying to decide what kind of new car he is going to buy. He relies on Consumer Reports, car magazines, and the advice of car mechanics. Prasad is using
[A]Marketing controlled information sources
[B]Nonmarketing controlled information sources
[C]Demographic information sources
[D]Secondary data sources

11. Pooja, a Chartered Accountant, reads an article that states that CAs receive the highest starting salary offers from consulting firms. The article also states that marketing majors start with lower salaries but surpass all other majors' salaries within ten years. Pooja doesn't remember reading this last part of the article, just the first part. This is an example of
[A]Selective distortion
[B]Selective exposure
[C]Selective retention
[D]Subliminal perception

12. When the demand for soft drinks grew by 12 percent in one year, the demand for aluminum cans and glass bottles grew also. The aluminum and glass industries are enjoying the effects of
[A]Joint demand
[B]Inelastic demand
[C]Derived demand
[D]Unitary demand

13. Wrigley's Chewing Gum ran an advertising campaign that targeted heavy smokers. The advertising indicated that "when you can't smoke, chew Wrigley's." This is an example of what type of segmentation?
[B]Usage rate

14. Which of the following is the best example of a marketing research objective?
[A]To determine why sales have decreased over the past three years
[B]To create a print advertisement emphasizing customer service
[C]To determine what role children have in influencing family decisions about vacation destinations
[D]To increase sales by 10 percent

15. Munna jumps out of his truck and runs into a Foodworld store to grab a drink. While he is paying for his drink, he notices the chocolate bars at the counter and grabs one to buy. The chocolate bar in this case is considered to be a(n)
[A]Specialty product
[B]Unsought product
[C]Convenience product
[D]Shopping product