MKT 442 Exam #2

The principle behind any standard industrial classification system is to

put every form of economic activity into a numeric category

alphabetize a list of all the organizations in the industry 

classify the industry into as many subcategories as possible

 provide an everyday use terminology for the industry, like "car industry"

The principle behind any standard industrial classification system is to

put every form of economic activity into a numeric category

alphabetize a list of all the organizations in the industry 

classify the industry into as many subcategories as possible

 provide an everyday use terminology for the industry, like "car industry"

put every form of economic activity into a numeric category

When it comes to valuable marketing information, the following are important:

accuracy, timeliness, relevance, uniqueness

all of the above

application, profit, revenue, demand

product, price, promotion, place

accuracy, timeliness, relevance, uniqueness

_______________ is a list of units that are elgible to be included in a survey.

 

Sampling frame

It is found that companies that perform better are likely to gather market research? True or False

True

The kind of sampling where every unit within the sampling frame has an equal chance of being selected is called

 simple random sampling

B2B organizations tend to rely on _________ for purposes of keeping up to date with trends in markets that are downstream from their customers.

secondary sources

Which of the following make up non-probabilty type sampling?

 systematic, convenience, quota, cluster

convenience, snowball, quota, focus group

cluster, snowball, quota, focus group

systematic, simple random, stratified, cluster

convenience, snowball, quota, focus group

Which of the following is an example of probability sampling?

Cluster sampling

Systematic sampling

Simple random sampling

All of the above

 

All of the above

The need to be aware of downstream demand is even more important where a(n) ________ is present.

Accelerator effect

Stratified random sampling is best used in which of the following conditions?

 Different groups cannot be defined

 Groups within the population share many similarities

The population is divided into meaningful groups

None of the above

The population is divided into meaningful groups

True or False. The aim of sampling is to obtain a representative sample, one that reflects the overall population in terms of important characteristics?

True

What is snowball sampling?

previously identified members to identify other sample members

What is simple random sampling:

every unit within the sampling frame has an equal chance of being selected for the sample

What is stratified random sampling?

population and sampling frame are divided up into meaningful groups then taken according to their representation in the population

The three strategic approaches to target market segments are:

undifferentiated, differentiated and niche

The view on segmentation presented by Wendell Smith consists of viewing a

heterogeneous market as a number of smaller homogeneous markets.

Firmographics is characterized by

company size, location, and industry classification.

B2B Segmentation enables the best match between ____________

both buyer and seller

Segmentation in the B2B setting has the understanding that while all customers are different...

some may share similar needs and beahviors.

The ways that companies choose to buy is a segmenting variable called

purchasing approach

Miles and Snow's four-part typology of customer strategic type is comprised of the following

prospector, defender, analyzer, reactor

The value of segmenting is realized when it

is used to make decisions about target markets and to establish specific competitive positions that bring value to the firm

A fundamental skill for superior B2B marketing is

knowing which customers to treat similarly and which to treat differently

According to the text, Cisco adopts a process to segment by operating variables. The process can be grouped into the following events

inherent and known, inherent, but unknown, created and unknown

Which promotional tool(s) or tactic(s) comprise a push strategy?

Retailer slotting allowances (promotion fees) for carrying a new product

Awareness is developed when potential customers...

become familiar with a product or brand

The basketball season is about to start, and the owners of the Red Lions team want to advertise that fact in their home metropolitan area. They plan to run a full-page newspaper ad in Metro News. The readership of Metro News is 850,000 and the cost of the ad is $82,000. What is the cost per thousand (CPM) of this campaign?

$96.47

Which of the following accurately matches the stages of the hierarchy of effects model to the intended outcomes of marketing communications?

Awareness and knowledge = think

It is important that companies formulate communications strategies that are _________, to ensure that consistent messages are conveyed through the different tools and that links between them are seamless, enabling the customer to move with minimum effort between them.

integrated

Good storytelling in advertising contains four classic elements. Which of the following elements is NOT one of them?

Media

Communications objectives in marketing help with...

deciding how communications tools will be used.

A business's expression of its identity to the marketplace is guided by organizational choices regarding...

 all of the above

 mission and vision

strategic intent

values and culture

 

all of the above

In marketing communications, which of the following message elements performs the function of a strong takeaway or moral lesson?

 Tagline or headline

Consumer-controlled media encompasses which of the following types of communications?

Rating websites with user-generated content

Visual Identity

corporate name, logotype, and or symbol used on all mediums

Brand purpose

articulation of an organization’s definitive position on what it believes in and what difference it can make

Brand personality

human traits with which an organization might be associated with

brand communication

deliberate, integrated forms of communication that provides the basis for constructive relationship with key stakeholders and which for us centre on customers

brand experience

customer affective, cognitive and behavioral responses to supplier brand-related stimuli

After a few years of work in the marketing department of a small firm, you are placed in charge of the firm’s inbound marketing. What are you most likely to be in charge of?

 Ensuring that consumers can find the firm when they search for information on products and services

Direct marketing centers on which of the following in regards to reaching customers?

acquisition, retention and development

Compared to direct mail, telemarketing is more _______.

versatile

When it comes to direct mail, a challenge for B2B marketing is:

capturing the audience attention among a cluttered inbox.

In what specific regard should social media be involved with marketing?

It should be an integrative part of the marketing communication strategy.

Which of the following is one of the three key activities for direct marketing?

absence of face-to-face contact

Ben & Jerry’s Ice Cream buys keywords for a search marketing campaign such as “Ben & Jerry’s Chunky Monkey” and “Ben & Jerry’s Cherry Garcia.” What type of keywords is the firm buying?

Branded keywords 

Four key factors the business marketer must consider for the company's social media campaign are integration, _______, control, and conversation.

consistency

Effective direct marketing focuses on _________.

acquisition and conversion

lead generation > _______ > call preparation > selling > order fulfillment

prospecting