FREE MARKETING AND STUDY GAMES ABOUT

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FREE MARKETING AND STUDY GAMES ABOUT

MARKETING-CHAPTER 7 EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -37 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: An identified market with excellent potential based on careful research    

• Market position-refers to the unique image of a product or service in a consumer's

mind relative to similar competitive offerings

Answer:

Market Opportunity Question 2: The product user positioning strategy encourages use of a product or service by associating a personality or type of user with the product.

Answer:

True

Question 3: The total revenue that can be obtained from the market segment

Answer:

Market potential

Question 4: Occurs when a business competes with other companies offering products that are not in the same product category but that satisfy similar customer needs.

Answer:

Indirect competition Question 5: The descriptive characteristics of a market such as age, gender, race, income, and educational level

Answer:

Demographics Question 6: A new product will usually cause at least a temporary shift in consumer purchases until customers decide whether or not they like it.

Answer:

True

Question 7: Which of the following is an example of indirect competition?

Answer:

Blockbuster Video vs. Showcase Video Cinema Question 8: The type of competition faced by a business will affect its positioning.

Answer:

True Question 9: The price and quality positioning strategy always stresses higher price as a sign of quality.

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False Question 10: It is always costly and time-consuming to change promotional strategies.

Answer:

False Question 11: When businesses are in direct competition, competitors' pricing strategies are very important.

Answer:

True

Question 12: This approach directs a company's marketing mix at a large and heterogeneous group of consumers.

Answer:

Mass Marketing

Question 13: Rivalry among businesses on the basis of price and value

Answer:

Price competition Question 14: Companies must be careful not to base their positioning decisions solely on the actions of their competitors.

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True Question 15: People's interests and values are referred to as:

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Psychogrphics Question 16: Indirect competition occurs when businesses decide to emphasize factors of their marketing mix other than price.

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False Question 17: Making products available at more locations is always a good idea, because that will make it easier for customers to obtain your products.

Answer:

False Question 18: An exhibition where companies associated with an industry gather to showcase their products is called a(n)

Answer:

Trade Show

Question 19: Market segments should be evaluated on all of the following characteristics except

Answer:

employees' desire to serve potential customers.Question 20: If a camera manufacturer markets its cameras as taking sharper, clearer pictures than competing models, how is it positioning its products?

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Attribute Question 21: Offering cellular telephone plans suited to the number of phones in a family and the amount of minutes used in one month is an example of marketing a product based on product usage.

Answer:

True Question 22: Which of the following is the last step in identifying potential market segments?

Answer:

Use market information to choose the markets that present the greatest and least amount of potential.Question 23: Unlike the consumer market, the business market is fairly stable and is not segmented into various categories.

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False Question 24: A restaurant that advertises an all-you-can-eat dinner buffet for $3.95 is probably engaging in

Answer:

price competition Question 25: Occurs when businesses decide to emphasize factors of their marketing mix other than price.

Answer:

Non-Price Competition