1. When marketers at Apple. selected the Millennials, ademographic group that includes many college students, as anuntapped group of potential customers for their new line ofproducts, they were engaging in ________.A) occasion segmentingB) local marketingC) product diversificationD) market targetingE) product positioning
2. Jenny loves fashion and is always seen wearing thetrendiest fashion outfits. She actively shares her knowledge with awide group of friends and colleagues about where to shop for thelatest fashion at great deals. Most of her friends and colleaguesfollow her fashion tips. Rachel portrays the image of a(n)________.A) surrogate consumer
B) lagging adopterC) opinion leaderD) brand personalityE) social networker
3. Which of the following statements is true of culturalfactors that influence consumer behavior?A) Cultural influences on buying behavior are identical acrosscountries.B) Social classes show distinct product and brand preferencesin areas such as clothing and travel.C) Subcultures include nationalities and racial groups, butexclude religions.D) Subcultures are groups within which each individual has aunique and distinct value system.E) Hispanic Americans and African Americans are examples ofracially segregated groups and not subcultures.
4. Many fast food chains such as McDonald or KFC arelocalizing their products, advertising, promotion, and salesefforts to fit the needs of individual regions, cities, andneighborhoods. This is an example of ________.A) geographic segmentationB) product diversificationC) brandingD) psychographic segmentationE) demographic segmentation
5. In applying American Express platinum card requiredapplicate with HKD$1,000,000 annual salary. Card holder are offeredseasonal discounts/ free offer at select luxury hotels in selectcities worldwide. American Express most likely follows a(n)________ segmentation approach.A) occupationB) social statusC) occasionD) incomeE) geographic
6. Joey makes customized hat. The demand for hats peaks duringthe summer months. She advertises more aggressively and sells mostof her hats around this time. Which market segmentation approachdoes Joey most likely use?A) Weather segmentationB) psychographic segmentationC) occasion segmentationD) geographic segmentationE) behavior segmentation
7. In the context of behavioral segmentation, who among thefollowing is a potential user?A) Anita, who recently had a babyB) Peter, who recently changed his jobC) Mary, who enrolled as a graduate student in a universitylast yearD) Gina, who opened a dental clinic in Orange CountyE) Raj, who is planning a trip to Hawaii with friends
8. Coca-cola added three new products earlier this year toincrease variety for customers. Two of the products failed to reachthe minimal sales quota. Which of the following is LEAST likely tohave been the cause of their failure?A) The products were priced too high.B) The products were advertised incorrectly.C) Competitors fought back harder than expected.D) Product research was too extensive.E) The product development costs were high.
9. Mary's fascination for her grandmother's sherbet recipesinspired her to come up with a recipe for SherBetter. Which of thefollowing stages of the new product development process does thisexemplify?A) idea screeningB) idea generationC) idea testingD) idea developmentE) product manufacturing
10. Nintendo Inc. is conducting a business analysis todetermine which of the many newly developed games should bereleased. To estimate sales, the company must ________.A) conduct surveys of competitorsB) exclusively consider the member’s opinionsC) consider the sales history of similar productsD) apply the PLC concept to industry salesE) opt for business process reengineering
11. DIOR, a perfume manufacturing company, plans to release anew fragrance during the holiday season at HKD599 per bottle. Thecompany intends to bring the price down to HKD409 within six monthsof its release.Which of the following pricing strategies is DIORusing?A) market-penetration pricingB) market-skimming pricingC) competitive pricingD) cost-plus pricingE) Value-based pricing
12.Marmot Inc., a company marketing adventure hikingmerchandise for customers, targets the world's hikers, who havesimilar needs and buying behavior even though they are located indifferent countries. Which market segmentation is evidenthere?A) income segmentationB) psychographic segmentationC) gender segmentationD) intermarket segmentationE) occasion segmentation
13. In a bid to attract more customers in a market that hasseveral competitors, ABC company slashed the prices of all itsproducts by 50 percent. Managers at the firm reasoned that lowerprices would draw in even more customers, making up for thereduction in price several times over. Which of the followingpricing strategies are they using?A) market-skimming pricingB) market-penetration pricingC) captive-product pricingD) cash discount pricingE) by-product pricing
14. Ann wants to replace her old washing machine with a newone. In order to get the maximum value for her money, she plans tospend substantial time and effort in gathering information andmaking product comparisons before making the actual purchase. Inthis instance, Erica is planning to buy a(n) ________product.A) convenienceB) unsoughtC) specialD) shoppingE) exclusive
15) Benjamin, a marketer of an investment services company,noticed that most of his target customers do not have anyretirement plan. He tracks the prospects through large-scalepromotional efforts to meet his sales target. Benjamin most likelypractices the ________.A) production conceptB) marketing conceptC) selling conceptD) product conceptE) societal marketing concept
