MKT571 Week 1 Quiz
In ________ marketing, the firm operates in several market segments and designs different products for each segment. (Points : 5)
segmented
undifferentiated
differentiated
geodemographic
niche
2. In evaluating different market segments, the firm must look at two factors: the segment's overall attractiveness and ________. (Points : 5)
company's objectives and resources
the product to be sold
the purchasing process
competition's strategies
the global nature of the product
3. In principle, business buyers seek to ________ in relation a market offering's costs. (Points : 5)
spread risks
obtain the highest benefit package
maintain everyday low prices
outsource as much as is possible
eliminate partners' shares in profits as much as possible
4. ________ is composed of all parties who participate in the purchasing decision-making process and share common goals and risks associated with their decisions. (Points : 5)
The buying center
The marketing sales team
Strategic management
Engineering support
The logistics center
5. All of the following are methods of assessing customer value EXCEPT ________. (Points : 5)
direct survey questions
exit interviewing
focus-group value assessment
conjoint analysis
benchmarks
6. Webster cautions that ultimately, ________ make purchasing decisions. (Points : 5)
only senior managers
individuals, not organizations,
organizations, not individuals,
third parties
systems contractors
7. Johnson & Johnson broadened its target market for its baby shampoo to include adults through ________. (Points : 5)
countersegmentation
metamarketing
undifferentiated marketing
product specialization
single-segment concentration
8. If a market is segmented according to light, medium, and heavy product users, the marketer segmenting this market is using the ________ as the means to segment. (Points : 5)
user status
usage rate
buyer-readiness stage
occasion
benefit
9. When buyers cannot easily monitor supplier performance, the supplier might shirk or cheat and not deliver the expected value. ________ is "some form of cheating or undersupply relative to an implicit or explicit contract." (Points : 5)
Institutional sale
Opportunism
Business buying
Vertical integration
Contractual transactionism
10. Many business buyers prefer to buy a total solution to a problem from one seller. ________ is the correct term for this process. (Points : 5)
Channel consolidation
Systems buying
Vertical buying
Horizontal buying
Supply buying
11. The total demand for many business goods and services is ________ —that is, not much affected by price changes. (Points : 5)
derived
fluctuating
accelerated
multiple
inelastic
12. Business markets differ significantly consumer markets in that business markets possess all of the following characteristics EXCEPT ________. (Points : 5)
fewer, larger buyers
close supplier-customer relationship
professional purchasing
inverted demand
multiple sales calls
13. In the proposal solicitation process, ________ should be marketing documents that describe value and benefits in customer terms. (Points : 5)
written proposals
oral proposals
e-proposals
alliance proposals
global proposals
14. A company can be said to have used ________ if the company distinguished among customers buying on the basis of price, service, and quality. (Points : 5)
macrosegmentation
microsegmentation
strategic segmentation
global segmentation
short-term segmentation
15. ________ is a key industrial marketing strategy in bidding to build large-scale industrial products (e.g., dams, pipelines, et cetera). (Points : 5)
Systems contracting
Systems buying
Systems selling
Solutions buying
Turnkey logistics
16. According to the ________ criterion for useful market segments, a segment should be the largest possible homogenous group worth going after with a tailored marketing program. (Points : 5)
measurable
substantial
accessible
differentiable
actionable
17. A marketer is interested in segmenting a business market based on technology and customer capabilities. Which of the following major segmentation variables would most likely be used by the marketer to assist with the task? (Points : 5)
Demographic variables
Purchasing approaches
Situational factors
Personal characteristics
Operating variables
18. The purchasing department buys office supplies on a routine basis. This type of purchase is classified as a ________. (Points : 5)
straight rebuy
modified rebuy
new task
secondary purchase
preordained purchase
19. If a marketing manager observes that his or her market shows no natural segments and consumers seem to have roughly the same preferences, the marketing manager will most likely be faced with a ________ preferences pattern. (Points : 5)
homogeneous
heterogeneous
diffused
clustered
scattered
20. Marketers usually identify niches by ________. (Points : 5)
dividing a segment into subsegments
conducting VALS tests
allowing consumers to gravitate toward product brands
examining the demographics section of The Handbook of Marketing
producing products that can be used in a variety of ways
