2011 Corinthian Colleges, Inc. Business v2.0 MAR 1011 Introduction to Marketing. Rev

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1 1. Consumers accompanied by children A. purchase twice as much as they normally would if shopping with adults. B. purchase about 40% more than when shopping alone. C. spend more than when shopping alone to mitigate feelings of guilt about their children's disruptive behavior. D. spend less than when shopping alone. E. spend exactly the same amount as when shopping alone, since small children are perceived as a simple extension of "self." 2. The crowded aisles in retail stores at holiday time may cause shoppers to lose patience and decide on their purchase with far less thought than they otherwise would, because they are uncomfortable. This situation is most closely related to which of the following situational influences? A. purchase task B. social surroundings C. physical surroundings D. temporal effects E. spatial surroundings 3. Consumers with credit cards A. are less influenced by physical surrounding than those who pay by cash or check. B. are less likely to make major purchases since they fear excessive debt. C. purchase more than those who purchase with cash or debit cards. D. purchase less than those who purchase with cash or debit cards. E. purchase less when accompanied by children than when in the company of other adults. 4. Perception refers to A. a person's consistent behaviors or responses to recurring situations. B. a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way. C. the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world. D. the way people spend their time and resources considering what is important in their environment, and what they think of themselves and the world around them. E. those qualities that either attract or repel other members of a person's personal, social, or professional environment. 1

2 5. Spouse dominant decision-making implies that A. the husband makes the majority of the purchase decisions. B. the wife makes the majority of the purchase decisions. C. either the husband or the wife is primarily responsible for purchase decisions. D. both the husband and the wife make the decisions together. E. there is no clear cut decision-making, and most purchases are made by default. 6. Market segmentation refers to A. the philosophy that to do a truly excellent job of marketing a company should concentrate only on one segment of customers at a time. B. aggregating prospective buyers into groups that have common needs but who respond differently to a marketing action. C. aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action. D. aggregating prospective buyers into groups and creating or designing specific products that will satisfy their unique needs. E. the belief that it is possible to satisfy every customer's needs if you can identify the correct segment in which they belong. 7. To be identified as a market segment, its members must A. represent a large share of the entire market and have critical buying power. B. have common needs and respond similarly to market actions. C. have different needs and have potential for future growth. D. have different needs and respond similarly to market actions. E. have potential for future growth and have potential for increased profit or return on investment. 8. Product differentiation refers to A. a marketing strategy whereby a firm selects to sell a product for which there is no direct competition and current substitutes. B. a marketing strategy whereby a firm offers a service associated with a product rather than the product itself. C. the term used to describe seemingly disparate products that can act as substitutes for one another creating indirect rather than direct competition. D. the legal requirement that requires a specified degree of distinction between products to ensure that trademarks, brand names, and/or intellectual property are not being stolen or abused. E. a marketing strategy that involves a firm using different marketing mix activities to help consumers perceive the product as being different and better than competing products. 2

3 9. Time magazine publishes 200 different U.S. editions each targeted at unique geographic and demographic segments using a special mix of advertisements. Time is using which of the following segmentation strategies? A. one product with multiple market segments B. multiple products with multiple market segments C. one product with multiple channels of distribution D. one product with changes based on customer behavior E. multiple products with multiple segments 10. To create a strategy, nikeid.com allows customers to visit its Web site and design a sneaker to their own personal specifications. A. product sampling B. product extrapolation C. mass customization D. usage segmentation E. psychographic segmentation 11. When new products or a new chain steals customers and sales from older existing ones it is referred to as A. cannibalization. B. amortization. C. product appropriation. D. profit pilfering. E. profit implosion. 12. Product refers to A. a tangible good received in exchange for a person's time and effort. B. a tangible good received in exchange for providing value. C. a good that has in some way been altered, combined, or improved and ultimately sold to a consumer. D. good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for legal tender (money). E. good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value. 13. Goods can be divided into goods and goods. A. functional; aesthetic B. required; desired C. acceptable; exceptional 3

4 D. durable; nondurable E. production; agricultural 14. Services refer to A. tangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. B. intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. C. activities provided to complement a tangible good-such as technical support for a computer. D. any activity required for the production of a good that cannot be completed "in-house" and must be outsourced to another firm. E. the human (non-mechanical) component (the workforce) that is part of the manufacturing process. 15. Convenience products refer to A. items that a consumer will make special efforts to seek out and buy. B. items for which the consumer compares several alternatives on criteria, such as price, quality, or style. C. products the consumer purchases frequently, conveniently, and with a minimum of shopping effort. D. ancillary products used to make other products work more efficiently. E. low-cost items for which there are numerous substitutes and generic equivalents. 16. Which of the following is the best example of a people-base service? A. movie theaters B. airlines C. advertising agency D. vending machines E. taxis 17. Product mix refers to A. all of the different product lines offered by a company. B. a product and all complementary counterparts of that product that are used to create that greatest customer value. C. all products and product substitutions within an industry specified by a unique SIC code. D. a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range. E. a product, all its predecessors, and future models of that product, created from the same basic prototype 4

5 18. A product that requires no new behaviors be learned by consumers is a A. continuous innovation. B. discontinuous innovation. C. dynamically continuous innovation. D. symbiotic innovation. E. simultaneous innovation. 19. There are eight main reasons a new product can fail: (1) insignificant point of difference; (2) incomplete market and product protocol; (3) not satisfying customers on critical factors; (4) bad timing; (5) too little market attractiveness (6) poor product quality; and (7) poor execution of the marketing mix, and (8). A. too little innovation B. the idea was just plain "dumb" C. no economical access to buyers D. government intervention E. too socially controversial 20. The new-product process an organization goes through to identify business opportunities and convert them to a salable good or service contains A. three main steps: research, produce, and distribute. B. four distinct steps: research, evaluate, produce, and distribute. C. five key phases ranging from idea generation to creating the first prototype. D. seven stages from new product strategy development to commercialization. E. three phases: planning, implementation, and control. 5

6 21. Idea generation refers to A. the stage of the new-product process when concepts are converted to prototypes. B. the stage of the new-product process that develops a pool of concepts as candidates for newproducts. C. the stage of the new-product process where possible promotional campaigns and advertising themes are generated. D. information collected through extensive market research that contains raw data but that has not yet been analyzed for results. E. the discussion and decision of which market segments will be selected as target markets. 22. Generating insights leading to actions based on massive numbers of peoples' ideas is called. A. braining storming B. group think C. crowdsourcing D. outsourcing E. field sourcing 23. Various product-rating organizations such as government agencies and TV "consumer" programs are called: a) personal sources. b) internal searches. c) alternative evaluations. d) public sources. e) cognitive dissonance. 24. Personality is. a) an internal state that drives us to satisfy needs b) the process by which people select, organize, and interpret information from the outside world c) a change in behavior caused by information or experience d) a lasting evaluation of a person, object, or issue e) the set of unique psychological characteristics that consistently influence the way a person responds to situations in the environment 6