Unlike internal stimuli, external stimuli

include stimuli such as advertisements and videos.

Compared to specialty products, convenience products, are always

purchased without significant planning.

Identify a true statement about the product life cycle (PLC).

The PLC dictates the marketing strategies used.

Which of the following are important concepts in brand management?

All are important concepts in Brand Management

The purpose of segmentation is to

help mkters tailor mktg. mix to meet needs of segments

In which of the following ways does marketing research help managers?

It helps them reduce risk and serve their customers

A firm using a(n) _____ views the market as one big market with no individual segments

undifferentiated or mass targeting strategy

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Exam 2 Review

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Practice and Review for Exam 2

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Questions 18

Answers

1
Unlike internal stimuli, external stimuli
come from within.
include stimuli such as hunger and thirst.
cannot be satisfied through purchases.
include stimuli such as advertisements and videos.
2
Compared to specialty products, convenience products, are always
less expensive.
purchased without significant planning.
found in fewer stores.
new products unknown to a potential buyer.
3
The Google Form research survey you completed was an example of?
Secondary Research
Primary Research
Literature Review
Probability Sampling
4
Which of the following is NOT considered a brand element?
Logo
Loyalty Card
Slogan
Colors
5
Why is understanding Customer Lifetime Value (CLV) important?
All of the above
It can help customize loyalty rewards
It can improve efficiency of operations
It can help maximize customer engagemennt
6
What is the purpose of pivot tables to analyze consumer data?
all of the above
understand differences between variables (i.e. gender)
answer unanticipated questions about your data
understand relationships between variables
7
__ is the set of values, norms, attitudes, and symbols that shape human behavior.
d. Consumerism
c. Perceived value
b. Loyalty
a. Culture
8
Which of the following is NOT a common basis for segmenting a market?
usage rate
benefits
lifestyle
weight
9
Identify a true statement about the product life cycle (PLC).
Changes in a product don't affect that product's life cycle.
The introductory stage is longer than other stages
The PLC dictates the marketing strategies used.
A product spends the same amount of time at each stage
10
Unlike high-involvement goods, low-involvement goods associate with routine response behavior.
False
True
11
Which of the following are important concepts in brand management?
Brand Awareness
Brand Equity
All are important concepts in Brand Management
Brand Image
12
The consumer buying process is made up of which steps?
All of the above
information Search
Need Recognition
Purchase Decision
13
What does KPI stand for?
Key Productivity Indicator
Key Profit Indicator
Key Pride Indicator
Key Performance Indicator
14
In our survey, we measured the value equation by asking which two questions?
Awareness and Purchase
Overall Satisfaction and Age
Quality and Price
Overall Satisfaction and Price
15
The purpose of segmentation is to
help mkters tailor mktg. mix to meet needs of segments
group markets together to serve them simultaneously
change consumer attitudes and beliefs toward a product
divide a market into submarkets of equal size
16
In which of the following ways does marketing research help managers?
It helps ensure secondary data do not influence decisions
It helps them reduce risk and serve their customers
It helps them focus on quantity vs. quality of products
It helps them eliminate the use of big data for analysis
17
Which of the following is an example of primary research?
Customer Satisfaction Survey
Census Data
Statista reports
scanner data
18
A firm using a(n) _____ views the market as one big market with no individual segments
niche targeting strategy
d. individual targeting strategy
undifferentiated or mass targeting strategy
concentrated targeting strategy

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