Kaplan mt450 unit 5 quiz (all correct)

Business: Marketing (12)

Question 1.1. A market structure analysis is used to better understand the: (Points : 2)

competition

customers

employees

social environment

Question 2.2. A typical marketing planning horizon is: (Points : 2)

one month

six months

one year

five years

Question 3.3.According to the needs hierarchy theory, basic human needs such as food, sleep, and water are examples of ________ needs. (Points : 2)

physiological

safety

Ego

social

Question 4.4.The value proposition offered by the competitors and the marketing mix used by them will most likely fall under which of the following parts of the competitor analysis? (Points : 2)

determination of the competitors’ major objectives

assessment of the competitors’ current marketing strategies

assessment of the competitors’ strengths and weaknesses

internal analysis of your firm’s strengths and weaknesses relative to the competitors

Question 5.5.Which of the following refers to one particular product segment of a particular industry? (Points : 2)

a product brand

a product variant.

a product type.

a product class.

Question 6.6.When marketing managers select a market segment to pursue, it is called: (Points : 2)

segmenting the market

selecting the target market

selecting the right product

selective distribution

Question 7.7.Which of the following types of competition can be defined as products or services that the customer views as fulfilling the same need? (Points : 2)

product form competition

product category competition

generic competition

budget competition

Question 8.8.According to the needs hierarchy theory, friendship, affection, acceptance by reference groups are examples of ________ needs. (Points : 2)

physiological
social

ego

self-actualization

Question 9.9.Which of the following types of competition is based on products that have similar features and provide the same basic function? (Points : 2)

product class or product category

product form

generic

budget

Question 10.10. Conni is a marketing manager for a paper manufacturer. Many customers are identified as a straight rebuy. Which of the following is an example of a straight rebuy? (Points : 2)

frequently purchased routine purchases such as printer toner

upgrading the local intranet with new technologies

purchasing the first local intranet for a small business

routine purchases that have changed in some way such as air travel

Question 11.11.Tim is the marketing manager of a toy company. He is segmenting the market via psychographics. Which of the following is an example of a psychographic variable? (Points : 2)

religion

lifestyle

social class

density

Question 12.12.Which of the following best describes upgrading the existing copier to take advantage of new technology? (Points : 2)

straight rebuy situation

modified rebuy situation

new-task situation

repetition purchase

Question 13.13.With reference to the chasm model, the term visionaries refers to: (Points : 2)

innovators

early majority

early adopters

late majority

Question 14.14.What type of competition can destroy entire product categories when a major innovation occurs, so it requires attention, especially for long-run planning? (Points : 2)

Product form

Product category

Generic

Budget

Question 15.15.An analysis in which the strengths and weaknesses of competitors and their current and likely future strategies are examined is known as competitor analysis. (Points : 2)

True

False

Question 16.16.According to the needs hierarchy theory, ________ needs are based on job security and financial security. (Points : 2)

physiological

safety

ego

social

Question 17.17.John is a Marketing Manager for Kaplan Soda Inc. He is making decisions about which customer groups his company will pursue for a particular brand or product line. What is this commonly referred to in marketing? (Points : 2)

product segmentation

perpetual map

target marketing

market segmentation

Question 18.18.Michael is a marketing manager for a home repair organization. He is trying to make a decision on a supplier. Which of the following influences the decision about which supplier is chosen? (Points : 2)

the initiator

the influencer

the decider

the purchaser

Question 19.19.In technology-based markets, the marketing manager must understand who the different customers that will purchase the product at the introductory stage of the product life cycle and who will purchase the product as it matures. According to Everett Rogers, which of the following types of customers will be the first to buy the product? (Points : 2)

early adopters

early majority

innovators

laggards

Question 20.20.The concept of segmentation is important because it implies an understanding that customers are homogeneous. (Points : 2)

True

False