stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
MARK 3001 - Exam #2 Study Guide Flashcards | StudBud
Explore
/
MARK 3001 - Exam #2 Study Guide
MARK 3001 - Exam #2 Study Guide
22 terms
·
StudBud Administration
·
12 plays
Test your knowledge on marketing strategies, concepts, and key terms with this engaging quiz.
Flashcards
22 cards
F
Practice quiz
P
Host live
L
Questions
22
Answers
1
Innovators are characterized by:
Waiting for reviews
Avoiding risks
Resisting change
First to try
2
Which strategy reduces the communication gap?
Increasing advertising
Offering promotions
Promising only what can be delivered
Reducing options
3
Customers at a regional bakery are rewarded with a free coffee after purchasing 10 cakes. This is an example of
Lifestyle segmentation
Geographic segmentation
Loyalty segmentation
Education segmentation
4
What does brand loyalty provide to firms?
Reduced competition
Increased market share
Higher efficiency
Lower marketing costs
5
Tariffs are used by governments to:
Increase foreign competition
Raise import prices
Increase import availability
Lower domestic demand
6
What is the primary purpose of a quota?
Reduce import taxes
Increase domestic supply
Raise foreign prices
Limit imported goods
7
Panel data refers to:
Experimental research
Social media tracking
In-depth interviews
Information over time
8
Which is a qualitative research technique?
Scanner data
Focus group interviews
Panel data
Surveys
9
How do firms address service quality variability?
Avoiding interactions
Using technology, training, and automation
Reducing price
Offering discounts
10
Which global entry strategy has the highest risk?
Exporting
Franchising
Strategic alliance
Direct investment
11
PepsiCo uses its different brands to pursue a(n)________ strategy
Concentrated targeting
Differentiated targeting
Benefit targeting
Micromarketing
12
During introduction stage of the product life cycle, firms focus on:
Product phase-out
Intense competition
Targeting innovators
Market expansion
13
What is an example of a secondary data source?
Focus groups
Surveys
In-depth interviews
U.S. Census data
14
Which is an example of an unsought good?
Bottle of water
Burial Insurance
Expensive watch
Luxury car
15
What is a product mix?
Same category products
Single product line
Associated items group
Complete set of products
16
In services, Inseparable production and consumption means:
Services delay consumption
Services are produced without consumption
Services can be stored before consumption
Services are produced and consumed same time
17
Experimental research is used to:
Conduct interviews
Test causal relationships
Collect syndicated data
Observe real-time behavior
18
Brand equity includes all EXCEPT:
Brand loyalty
Brand packaging
Brand awareness
Perceived value
19
Which is a descriptive analytics tool?
Simulating behavior
Running experiments
Organizing data
Predicting sales
20
First step in developing a new product is:
Idea generation
Market testing
Product launch
Concept testing
21
In the product life cycle, intense competition is most typical in the ______ stage
Maturity
Growth
Introduction
Decline
22
Customers in a segment must react similarly and positively to the firm's marketing mix. The market segment must be
Identifiable
Substantial
Perceptive
Responsive
