mkt 5-9

why do some firms skip standard test marketing?

it is time consuming

it is uneconomical

it can alert competitors to a firms plan

what are the functions of the north american industry classification system(caics) in canada, mexico, and the us?

designating industties with numerical codes

providing common industry defintions (the numerical codes are common definitions)

aids in the analysis of data about industries (gives morfe info about industries)

select all essential criteria that the market segment should meet

a simple and effective marketing action is necessary

there should be opportunity for future profit

in the six digit numerical codes by naics for industries, what does the third digit designate?

subsector

a restaurant wants to discover relationships in data to identify the age groups eating fast food. Which method should it choose?

cross tabulation

a restaurant wants to discover relationships in data to identify the age groups eating fast food. which method should it choose?

cross tabulation

the us ftc advicses that the term new be limited to use with a product for up to ___ months after it enters regular distribution.

six

a question that allows only yes or no response is a _____

dichtonomous question

which situations is an independent e marketplace most likely to exist:

time sensitive due to perishable offerings

volatile prices caused by demand and supply fluctuations

difficult to compare offerings from different sellers

geographically dispersed buyers and sellers

geographically dispersed buyers and sellers

volatile prices caused by demand and supply fluctuations

time sensitive due to perishable offerings

select all the internal sources of secondary data

marketing inputs

reports by us census bureau

syndicated panel data

marketing outcomes

marketing inputs

marketing outcomes

which segnmentation strategy avoids extra costs of producing additional versions of the product?

one product and multiple market segments

select all the statements true for a product positioning statement.

it applies to specific product

it identifies the target market

it highlights the unique attributes of the product

it checks the appropriateness of the target segment

it applies to specific product

it identifies the target market

it highlights the unique attributes of the product

business analytics ____

specifies the features of a product or service

what type of organizational buyer reprocesses a product or service after purchase and before selling it again to the next buyer?

industrial firm

which of the following are characteristics of organizational buying?

direct selling is an important part of distribution

fewer customers typically exist, and their purchase orders are large.

demand for industrial products and services is derived

most products are finished products

few customers typically exist, and their purchase orders are large

direct selling is an important part of distribution

demand for industrial products and services is derived

what happens during a reverse auction

the buyer communicates a need for a product

the seller communicates a supply of a product

sellers bid against eachother to supply a product

there is an upward pressure on bid prices

the buyer communicates a need for a product

sellers bid against eachother to supply a product

a leading mobile phone company observes people and asks them questins to collect data. what is the company using?

methods

which idea gneration method allows for personal interaction with potential customers?

depth interview

focus groups

restrictions placed on potential solutions to a problem are ___

constraints

lara wants to withdraw money from the atm. which technique will she use to withdraw?

direct forecast

a perceptual map is a means of displaying in two dimensions the location of products or brands in the minds of consumers.

true

questionare data i s obtained by ____

asking people about their attitudes and awareness

what directs the companys overall marketing strategy?

customer value proporistion

select all the true statements for a product.

there can be different product forms within a product class

a product class has the same product forms

each of the different product items has a seperate sku

sku is a unique id used for inventory purposes

there can be different product forms within a product class

each of the different product items has a seperate sku

sku is a unique id used for inventory purpose

Which of the following roles ina buying center helps define the specifications for what is bought?

buyer, decision maker, influencer

influencer

the classification method of goods also provides direction for ____

marketing actions

producing a single commercially sucessful new product is difficult especially in case of ____

consumer packaged goods

marketing research ___

recommends actions

marketers conduct marketing research to improve ____

marketing deicisions

an industrial buying practice in which two organizations products and services is known as ___

reciprocacy

at which stage of the organizational buying process does the organization evaluate suppliers using a rating system?

post purchase

As part of marketing reseach laura wants to use sampling, she should ____

select a group of prospects and ask them questions

marketing synergies often comes at the expense of product synergies

true

select all the ideal variables for the behavioral basisi of segmentation for students segment for a fast food joint.

where do they live and when are they on campus

A ____ is developed to identify a target market and recommend resulting marketing actions.

market product grid analysis

in a simulated test market, ____

a full scale test market is replicated

phsychographic segmentation is based on subjective attributes t or f

true

which one of the following is primary data?

actual sales

budget

financial statements

data from social media

data from social media- only external option

a leading company developed tissues with vitamin c derivatives scientifically designed to kill cold germs. the product failed in the test marketing. what could be the most lilely reason for the product failure?

incomplete product protocol

(skipped checking if this is actually something people want)

A food joint has a policy against spending more money on restaurant equipment. It does not have equipment to make breakfast. What should it do?

leave the breakfast segment

items that the consumer purchases frequently, conventiently, and with a minimum shopping effort are ____

convenience products

the demand for industrial products and services is driven by demand for consumer products and services. This is known as ___ demand.

derived

(domino effect of demand)

a line is drawn to fit the past sales data and project it into the future to give the forecast values. This method is _____

trend extrapolation

(using past info to find future info)

what best relates to a product item?

includes a unique brand

john is analyzing the advertising expenditures. which data is he looking at?

marketing input data (current)

(marketing output data is past efforts)

which of the following are characteristics of organizational buying?

few customers, large orders

demand for industrial products and services is derived (domino effect)

direct selling is an important part of distribution

what type of organizational buyer reprocesses a product or service after purchase and before selling it again to the next buyer?

industrial firm (buying steal bars, melting and forming into parts)