MKTG 451 Feng Cong Exam 1 Questions
With Complete Answers
You are the marketing director for Littleton Hospital. You are doing an
environmental scan to help create a five-year marketing plan for the hospital.
Which of the following environmental trends should you consider the most
important? - ANSWER The number of people in your geographic area who are 50
years or older will increase by 23 percent during the next five years.
Among the fundamental changes to marketing and business practice in today's
economy is the dramatic increase in the availability of information the increase
in information has created a shift in the balance of power in the market place.
Who now holds the most power in today's economy? - ANSWER Customers
The HSBC bank international LTD selected its advertising agency because that
agency was always sensitive to the possibility that something might not translate
well or may offend superstitions about color or numbers. This is an example of
how ________ forces affect marketing. - ANSWER Social
More Magazine is a new publication designed to appeal to women over the age
of 40. Demand for such magazine is growing. This is an example of how
changing ________ characteristics impact the marketing environment. - ANSWER
Demographic
Craig Conway is EO of a software design company named PeopleSoft; a
company that has automated many human resource functions such as tracking
vacation time. Mr. Conway operates at the ________ level of this organization. -
ANSWER Corporate
Which of the following groups could utilize marketing? - ANSWER All of the
above (Professionals, major corporations, nonprofits, politicians)
Market segementation involves aggregating prospective buyers into groups that
will respond similarly to a marketing action and - ANSWER Have common needs
The consumer products industry is one with several large competitors soaring
raw materials prices, and strong demands from powerful retailers for low
prices. As a result, Colgate-Palmolive Co. and Unilever Group, the makers of
pruducts such as Colgate Toothpaste and Ben and Jerry's ice cream both
reduced their earnings forecast. Yet Proctor and Gamble did not. ...A SWOT
analysis for P&G of this information would indicate that the soaring raw
, materials prices is a _________ while the product placement highlights its brand
is a _________. - ANSWER Threat; Strength
________ is the systematic design, collection, analysis, and reporting of data
findings, relevant to a specific marketing situation facing the company. -
ANSWER Marketing research
Before Sandra opened her florist shop she read all of she could about the floral
industry. She also consulted several published research reports to understand
growth patterns in the local area with particular interests in the location of
florists throughout the city. This _______ helped her decide on the location of her
store. - ANSWER Secondary Data
The goal of ethnographic research is to _______ - ANSWER Immerse the
researcher into consumers' lives to uncover unarticulated desires that might not
surface in any other form of research
The marketing research process begins by _______ - ANSWER Defining the
problem, the decision alternatives, and research objectives
Hilton Hotels customizes rooms and lobbies according to location. Northeastern
hotels are sleeker and more cosmopolitan. Southwestern hotels are more rustic.
This is an example of _________ segmentation. - ANSWER Geographic
With _______ as a target market strategy, the firm concentrates on serving many
needs of a single market segment, typically by offering them a variety of
products. - ANSWER Market specialization
Which of the following is a consumer demographic variable which can be used
to segment people? - ANSWER Education
If the goal of marketing research is to shed light on the real nature of a problem
and to suggest possible solutions or new ideas, the research is said to be
_______ - ANSWER Exploratory
Selecting which segments of a population of customers to serve is called
________ - ANSWER Targeting
Mass marketers, such as Target and Venture Stores, often ignore market
segment differences and target the whole market with one offer. What is their
approach to segmenting? - ANSWER Undifferentiated marketing
_______ typically occur within the competitive, economic, customer,
political/legal, technological, and/or sociocultural environments of the firm -
ANSWER Opportunities and Threats
With Complete Answers
You are the marketing director for Littleton Hospital. You are doing an
environmental scan to help create a five-year marketing plan for the hospital.
Which of the following environmental trends should you consider the most
important? - ANSWER The number of people in your geographic area who are 50
years or older will increase by 23 percent during the next five years.
Among the fundamental changes to marketing and business practice in today's
economy is the dramatic increase in the availability of information the increase
in information has created a shift in the balance of power in the market place.
Who now holds the most power in today's economy? - ANSWER Customers
The HSBC bank international LTD selected its advertising agency because that
agency was always sensitive to the possibility that something might not translate
well or may offend superstitions about color or numbers. This is an example of
how ________ forces affect marketing. - ANSWER Social
More Magazine is a new publication designed to appeal to women over the age
of 40. Demand for such magazine is growing. This is an example of how
changing ________ characteristics impact the marketing environment. - ANSWER
Demographic
Craig Conway is EO of a software design company named PeopleSoft; a
company that has automated many human resource functions such as tracking
vacation time. Mr. Conway operates at the ________ level of this organization. -
ANSWER Corporate
Which of the following groups could utilize marketing? - ANSWER All of the
above (Professionals, major corporations, nonprofits, politicians)
Market segementation involves aggregating prospective buyers into groups that
will respond similarly to a marketing action and - ANSWER Have common needs
The consumer products industry is one with several large competitors soaring
raw materials prices, and strong demands from powerful retailers for low
prices. As a result, Colgate-Palmolive Co. and Unilever Group, the makers of
pruducts such as Colgate Toothpaste and Ben and Jerry's ice cream both
reduced their earnings forecast. Yet Proctor and Gamble did not. ...A SWOT
analysis for P&G of this information would indicate that the soaring raw
, materials prices is a _________ while the product placement highlights its brand
is a _________. - ANSWER Threat; Strength
________ is the systematic design, collection, analysis, and reporting of data
findings, relevant to a specific marketing situation facing the company. -
ANSWER Marketing research
Before Sandra opened her florist shop she read all of she could about the floral
industry. She also consulted several published research reports to understand
growth patterns in the local area with particular interests in the location of
florists throughout the city. This _______ helped her decide on the location of her
store. - ANSWER Secondary Data
The goal of ethnographic research is to _______ - ANSWER Immerse the
researcher into consumers' lives to uncover unarticulated desires that might not
surface in any other form of research
The marketing research process begins by _______ - ANSWER Defining the
problem, the decision alternatives, and research objectives
Hilton Hotels customizes rooms and lobbies according to location. Northeastern
hotels are sleeker and more cosmopolitan. Southwestern hotels are more rustic.
This is an example of _________ segmentation. - ANSWER Geographic
With _______ as a target market strategy, the firm concentrates on serving many
needs of a single market segment, typically by offering them a variety of
products. - ANSWER Market specialization
Which of the following is a consumer demographic variable which can be used
to segment people? - ANSWER Education
If the goal of marketing research is to shed light on the real nature of a problem
and to suggest possible solutions or new ideas, the research is said to be
_______ - ANSWER Exploratory
Selecting which segments of a population of customers to serve is called
________ - ANSWER Targeting
Mass marketers, such as Target and Venture Stores, often ignore market
segment differences and target the whole market with one offer. What is their
approach to segmenting? - ANSWER Undifferentiated marketing
_______ typically occur within the competitive, economic, customer,
political/legal, technological, and/or sociocultural environments of the firm -
ANSWER Opportunities and Threats
