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Study Resources (Business Management)

True or False Questions     1. Brand positioning comprises both competitive and customer considerations.     2. The intangible nature of services makes it easier for marketers to position them successfully.     3. Physical differences are not stressed in the marketing mix of effective brand positioning initiatives.     4. Physical comparisons are primarily based on market rather than technical.
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  Multiple Choice Questions     33. Lavenderin, a garment manufacturing company, purchases all its cotton and other raw materials from various suppliers. Lavender is an example of an _____. A. organizational customer B. ultimate consumer C. intermediary D. individual customer     34. The demand for industrial goods and services is: A. less cyclical than consumer goods and services. B. more likely.
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    21. The positioning grid provides a visual representation of the positions of various products or brands in the competitive set typically in terms of two determinant attributes.     22. Crafting strategies involves making choices about what not to do, as well as what to do.     23. Value curves indicate how products within a.
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  75. Give examples of important macro trends that a real estate investor, a high tech entrepreneur, and food company are most likely to consider.     76. What are the ways in which a company can act ethically with regard to macro environmental trends?     77. State the five competitive forces postulated by Porter that.
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    21. Purchasing structure is the degree to which the purchasing activity is centralized.     22. In a centralized purchase situation, the buyer is apt to be more sensitive to the user’s need, to emphasize product quality and fast delivery, and to be less cost-conscious.     23. Firms aiming a single product and marketing program.
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    11. A modified rebuy occurs when buying centers are forced to look for alternative products because the organization’s needs have changed.     12. A straight rebuy involves purchasing a common product or service the organization has bought many times before.     13. Requirements planning governs the purchase of raw materials and fabricating components as.
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    11. The diffusion theory is rarely useful in practice since it is not effective in estimating how quickly an innovation is likely to move through the diffusion process.       12. If plotted on a cumulative basis, the percentage of people adopting a new product over time resembles an inverted U curve.     13. The.
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    41. Susan and Kelly were excited that their favorite brand, Street Wear, was going to launch its new line of denims in a few weeks. They rush to the nearest store and purchase the denims immediately after the product launch. Susan and Kelly are: A. late majority buyers. B. early adopters. C. innovators. D..
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    Essay Questions     71. What is perception? Explain the perceptual process.     72. What is an opportunity cost? What is the opportunity cost involved in buying a car?     73. Describe the categories of information sources that are used in the purchase of products.     74. Discuss some pros and cons of using the web to search for.
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    61. When is the bargaining power of suppliers high? A. When the cost of switching suppliers is low B. If prices of substitutes are low C. If suppliers can realistically threaten forward integration D. When the rate of investment is low     62. The cost of switching suppliers is high if: A. bargaining power of suppliers increases. B..
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    42. Touch mobile service providers observes that the 55-65 and the 65-plus segment with their high disposable incomes and their ability to devote time to new habits are a lucrative market opportunity for them. So they focus on this segment to increase the usage and penetration of Touch mobile’s services..
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  78. What are some critical questions that managers setting up competitive intelligence systems should ask?   79. Name each step of the marketing process and explain what could go wrong at each step.     80. Compare and contrast qualitative and quantitative data and research approaches.       .
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True or False Questions     1. Each part of the firm prepares its own sales forecast under the top-down approach.     2. Under the bottom-up approach, a central person or persons take the responsibility for forecasting and preparing an overall forecast.     3. A major drawback of the bottom-up approach for preparing a sales forecast is.
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  Essay Questions     71. What is the difference between a market and an industry?     72. Cite examples of how the technological, sociocultural, and demographic components of the marketing environment could affect the soft drink industry.     73. List two major trends related to the present world population.     74. Discuss the implications of a major sociocultural trend.
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    62. Mary Land group of hotels designs different brand name hotels for different market segments such as families, business-people, and low-budget travelers. This is an example of _____ market strategy. A. niche B. differentiated C. growth-market D. shotgun     63. Trilogy, a cell phone manufacturing company has come out with a new model Vogue. This model.
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    63. Component parts and materials are regarded as: A. finished goods that facilitate production of a final product. B. processed goods that become a portion of a final product. C. finished goods that facilitate repair, maintenance, and ongoing operations. D. major capital goods that are used to produce the final product, but not being.
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  75. What are the demographic attributes used to segment consumer markets?     76. Do you think that market segmentation based on sources of purchase influence for the product category is relevant for both consumer and organizational markets? Give reasons to support your answer.     77. Identify the steps in constructing a market-attractiveness/competitive-position matrix for.
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  Multiple Choice Questions     32. Market segmentation is the process of: A. dividing a market into distinct subsets of relatively homogeneous customer groups that differ from others. B. positioning the product offering in different geographical areas. C. changing customer demands so that they fall into homogeneous subsets. D. segregating a market into segments of relatively heterogeneous.
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  79. List the major categories of industrial goods and services.     80. What effects are likely to be expected when implementing a just-in-time inventory system to an assembly-line type of manufacturer?     81. Discuss the implications of business services for marketing decision makers.       .
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  Essay Questions     71. Distinguish between the top-down approach and bottom-up approach for preparing a sales forecast.     72. A major bank is considering installing ATMs at all locations of a grocery store chain. What evidence-based forecasting tools would be appropriate to use and how?     73. Mention the factors that determine the speed of the.
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  75. Explain the two important keys to improve the credibility and accuracy of a set of forecasts of sales and market potential.     76. Explain some of the potential biases in forecasting?   77. Mention the steps required for building or accessing marketing databases for CRM purposes.         .
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    51. _____ is a systematic and ethical approach for gathering and analyzing information about competitors’ activities and related business trends. A. Competitor collaboration B. Competitor management C. Joint venturing D. Competitive intelligence     52. Which of the following is the first step in the marketing research process? A. Identifying managerial problem and establishing research objectives B. Determining the.
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    21. Extensive distribution is necessary where the consumer exhibits low-involvement and is relatively more concerned with convenience in purchasing.     22. Unicorn Ltd. is indulging in cause-related marketing when it contributes 5 percent of the sales of its flagship brand, Hornbill to rain forest preservation efforts.     23. Selectivity and organization are factors that.
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    51. Technological developments have a profound impact on all of the following EXCEPT: A. distribution. B. packaging. C. deregulation. D. marketing communication.     52. Which of the following is true of the world’s natural environment? A. The quality and quantity of groundwater is increasing. B. There is a build-up of carbon dioxide resulting from the use of fossil.
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True or False Questions     1. At the most basic level, marketers need to answer the same set of questions about organizational markets as about consumer markets in order to develop a solid foundation for their marketing plans.     2. A crucial factor that distinguishes organizational markets from consumer markets is the method in.
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  78. What are the most important factors in assessing market attractiveness and competitive position?     79. Complete the following Market Attractiveness and Competitive Position chart (bold numbers are given, the remaining numbers in the “Total” column need to be calculated by the student). Using the results from the chart, complete a market.
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    51. Which of the following is a low-involvement purchase? A. An automobile B. A mobile phone C. A computer D. Cereals     52. The consumer decision-making approach associated with low-involvement and routine information search for a product is known as _____. A. brand loyalty B. complex decision making C. compensatory decision making D. inertia     53. When Andrew went shopping, he noticed.
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    21. A firm is more likely to trust and develop a long-term commitment to a supplier when that supplier makes dedicated, customer-specific investments.     22. Government organizations tend to require less documentation and paperwork from their suppliers compared to the business organizations.     23. Most standard marketing strategies and tools are equally effective for.
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    21. The commonly used market knowledge systems on which companies rely to keep pace with daily developments include internal records regarding marketing performance, marketing databases, competitive intelligence systems, and systems to organize client contact.     22. Accounting systems regularly track such aspects as what is selling, how fast, in which locations, and.
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    11. Geodemographics attempts to predict consumer behavior by making demographic, psychographic, and consumer information available at the block and zip code or postcode levels.     12. Behavioral attributes can take many forms, including those based on consumer needs; on product usage patterns; on more general behavioral patterns, including lifestyle.     13. Customer needs are.
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  78. Mention the important requirements for designing appealing product offerings and structuring effective marketing programs suggested by the Fishbein Model and the noncompensatory models.     79. Mention the factors that are influenced by demographics.     80. What is the difference between a culture and a subculture?       .
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    43. In the context of organizational market, individuals who controls the flow of information to other people in the purchasing process is referred to as: A. deciders. B. buyers. C. users. D. gatekeepers.     44.A miner working for a mining company requests the purchasing agent of the company to buy a particular brand of high powered.
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    61. Which of the following is the first step in the consumer’s perceptual learning process? A. Attention B. Comprehension C. Retention D. Exposure     62. Calvin watched an ad of a new mobile phone on television. Which of the following steps of the perceptual process was Calvin engaged in? A. Exposure B. Comprehension C. Retention D. Attention     63. Which of the.
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  75. Discuss the several ways in which a consumer can evaluate alternatives.     76. How does a product’s price affect a consumer’s decision making for a high-involvement and low-involvement product?     77. Distinguish between a compensatory and noncompensatory model of consumer decision making.         .
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True or False Questions     1. Maturing of product-markets in developed countries has reduced the intensity of competition in those markets.     2. In today’s market, there is an increasingly important trend toward microsegmentation, in which extremely small market segments are targeted.     3. Identifying a homogeneous segment that differs from other segments is the final.
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    41. Which of the following is an example of a public source of information? A. Media advertising B. Travel agencies C. Package and label information D. Salespersons     42. Which term describes the limited number of products consumers are familiar with that are likely to satisfy their needs? A. Product group B. Choice set C. Evoked set D. Retention set     43..
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  Multiple Choice Questions     31. Under the _____ approach, a central person or persons take the responsibility for forecasting and preparing an overall forecast, perhaps using aggregate economic data, current sales trends, or other methods we describe shortly. A. horizontal B. bottom-up C. lateral D. top-down     32. Under the _____ approach, each part of the firm prepares.
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True or False Questions     1. High-involvement purchases involve goods or services that are psychologically important to the buyer.     2. A need can become stronger and be brought to our attention by a deterioration of our actual state or an upward revision of our ideal state.     3. Products are more difficult to evaluate than.
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    11. The speed of a computer system is an example of a complex physical attribute.     12. Complex physically based attributes refer to physical dimensions such as quality, power, and size.     13. Perceptual attributes must be considered in positioning most products.     14. Perceptual attributes of products are directly related to physical characteristics of the.
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  Multiple Choice Questions     31. A(n) _____ is defined as being comprised of individuals or organizations that are interested and willing to buy a good or service to obtain benefits that will satisfy a particular need or want and who have the resources to engage in such a transaction. A. industry B. firm C. market D..
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    61. A(n) _____ scale connects two bipolar words of phrases. A. semantic differential B. likert C. importance D. quality rating     62. _____ scale uses statements with which the respondent shows the amount of agreement/disagreement. A. Semantic differential B. Likert C. Quality rating D. Importance     63. A restaurant conducts customer surveys to determine customer satisfaction. In one of the surveys, they.
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    53. Which of the following is the last step of the purchase decision-making process? A. Purchase decision B. Evaluation and selection of suppliers C. Postpurchase evaluation and feedback D. Make-or-buy decisions     54. Value analysis refers to the: A. systematic appraisal of an item’s design, quality, and performance requirements. B. assessment of the value of the product compared.
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    11. The decision process is complete after a consumer has collected information about alternative brands, evaluated them, and decided which is the most desirable.     12. Postpurchase evaluation depends on the person’s aspiration or expectation level.     13. Most consumers think a product or service is insufficiently important to identify with it.     14. When consumers.
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    52. Which of the following is true of the decentralized buying situation? A. The buyer is apt to be less sensitive to the user’s need. B. The buyer is apt to emphasize product quality. C. The buyer is apt to be less cost-conscious. D. The buyer is apt to emphasize fast delivery.     53. The buying.
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    41. The rise or fall of people’s incomes, fluctuations in interest rates, the changes in fiscal policy of governments that results in increased or decreased government spending are all elements that come under the category of _____ trend. A. regulatory B. economic C. demographic D. sociocultural     42. Which of the following purchases is most likely.
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  Essay Questions     71. Distinguish between market segmentation, target marketing, and brand positioning.     72. What are the factors that have made market segmentation one of the most dominant approaches to market strategy in recent years?     73. Pick three distinct stages of the household life cycle and identify products that might be more frequently purchased.
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  Essay Questions     72. What are the motivations behind the purchases made by organizational buyers? Why is organizational demand referred to as derived demand?     73. Compare the buyer-seller relationships between organizational markets and consumer markets?     74. Discuss the demand characteristics and market demographics of the typical organizational market compared to the typical consumer market.     75..
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  Multiple Choice Questions     31. Which of the following is the first mental step in the high-involvement decision-making process? A. Information search B. Purchase C. Problem identification D. Evaluation of alternatives     32. A consumer’s purchase-decision process is triggered by unsatisfied needs in the step of _____ in the complex decision-making process. A. information search B. problem identification C. evaluation of.
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