MBA 651 Final Exam || 100% Correct Solutions.
The ___ for a soft drink manufacturer would include other manufacturers of soft drinks, fruit
juices, bottled water, sports drinks, caffeine-free colas, and dairy beverages.
A. Competitive Environment
B. Technological Environment
C. Cooperative Environment
D. Economic Environment correct answers A. Competitive Environment
When using a cost leadership strategy, a firm is most likely to offer:
A. a standard, no-frills product
B. a highly-differentiated product
C. a prestige product
D. an expensive product of superior design and quality correct answers A. a standard, no-frills
product
An entrepreneur has developed a self-service soda-bottling machine. Customers can fill their
own plastic soda bottles with 18 regular and diet flavors. In order to decide where to locate the
machines, the entrepreneur conducts research to study the
market and groups people into segments based on the research findings. This is an example of
the segmentation approach.
A. a priori
B. post hoc
C. psychographic
D. mass market correct answers B. post hoc
A positioning map is:
A. constructed by surveying customers about various product attributes and developing a graph
indicating the relative position of competitors
B. an indication of the number of Experiencers and Strivers within a geographic area based on
PRIZM analysis
C. implemented when marketers want to differentiate between the Young Digerati,
Cosmopolitans, and American dreams
D. used solely with benefit segmentation and includes an assessment of lifestyle choices based
on activities, interests, and opinions. correct answers A. constructed by surveying customers
about various product attributes and developing a graph indicating the relative position of
competitors
A company is entering the deodorant market. Its marketing manager decides that the market
should be divided on the basis of whether the consumers are nonusers, light users, or heavy users
of deodorants. Which of the following approaches to segmentation is the company using?
,A. Post hoc segmentation
B. A posteriori segmentation
C. Empirical segmentation
D. A priori segmentation correct answers D. A priori segmentation
World Explorer Cruises advises that it sells "Cruises for your mind, body, and soul. Even better
it comes in a pint-sized budget!" Way kind of segmentation is the cruise line using?
A. Benefit Segmentation
B. Mass Market Segmentation
C. Geographic Segmentation
D. Demographic Segmentation correct answers B. Benefit Segmentation
Altron Herbals is trying to market a new sunscreen lotion. In order to identify their target market
segment, they have prepared a questionnaire that asks potential consumers about their lifestyles,
especially their activities, interests, and opinions. Based on their answers, the consumers will be
grouped into separate categories. Which of the following market segmentation approaches has
Altron used in this scenario?
A. A priori segmentation
B. Social segmentation
C. Psychographic segmentation
D. Geographic segmentation correct answers C. Psychographic segmentation
The process of dividing a market into groups of similar consumers and selecting the most
appropriate group(s) for the firm to serve is called ____.
A. Mass marketing
B. Market segmentation
C. Test marketing
D. Marketing communication correct answers B. Market segmentation
Which of the following is the primary reason for studying consumer and organizational buyer
behavior?
A. To understand employees' relationships with their organization
B. To determine the effectiveness of an organization's marketing department
C. To provide bases for effective market segmentation
D. To determine an organization's distinctive competencies correct answers C. To provide bases
for effective market segmentation
Which of the following constitutes a viable market segment?
A. A group of products and services that can be mass marketed profitability by a firm
B. A particular group of consumers who have varying preferences for products and services
, C. A group of consumers with needs that can be seldom met by a single product item offered by
a firm
D. A particular group of consumers of a single item who can be served profitability by a firm
correct answers D. A particular group of consumers of a single item who can be served
profitability by a firm
The group or market segment that a company selects to market to is called a ____.
A. Customer Profile
B. Business Group
C. Target Market
D. Differentiated Market correct answers C. Target Market
Which of the following segmentation bases of consumer markets includes income?
A. Behavior
B. Psychographic
C. Demographic
D. Geographic correct answers C. Demographic
Charles and Steve are business partners who want to start a publishing house. Both partners
thoroughly research the market before proceeding with the planning. They believe that the
research results guarantee that the new business will be successful. Which of the following will
help Charles and Steve interpret their research results accurately?
A. Understanding that marketing research studies all the factors that contribute to the success of
a business
B. Considering the results of the research as a final answer to all doubts about setting up the new
business
C. Using the research results as a substitute for decision-making
D. Knowing that even the most carefully executed research can be filled with errors correct
answers D. Knowing that even the most carefully executed research can be filled with errors
Redstone Inc. manufactures and markets computer games. Its latest game, Warrior
Xero, is designed specifically for teenagers. The company recently implemented a free
trial where they invited teenagers to their office to play the game. After the free tria'
the company's market research executives conducted discussion sessions with
teenagers to gain insights into the product and whether any changes needed to be
made. The research conducted by Redstone Inc. best exemplifies ___.
A. Mathematical Modeling
B. Group Experiments
C. Focus Groups
D. Observational Research correct answers C. Focus Groups
Which of the following types of research methods typically involves discussions
The ___ for a soft drink manufacturer would include other manufacturers of soft drinks, fruit
juices, bottled water, sports drinks, caffeine-free colas, and dairy beverages.
A. Competitive Environment
B. Technological Environment
C. Cooperative Environment
D. Economic Environment correct answers A. Competitive Environment
When using a cost leadership strategy, a firm is most likely to offer:
A. a standard, no-frills product
B. a highly-differentiated product
C. a prestige product
D. an expensive product of superior design and quality correct answers A. a standard, no-frills
product
An entrepreneur has developed a self-service soda-bottling machine. Customers can fill their
own plastic soda bottles with 18 regular and diet flavors. In order to decide where to locate the
machines, the entrepreneur conducts research to study the
market and groups people into segments based on the research findings. This is an example of
the segmentation approach.
A. a priori
B. post hoc
C. psychographic
D. mass market correct answers B. post hoc
A positioning map is:
A. constructed by surveying customers about various product attributes and developing a graph
indicating the relative position of competitors
B. an indication of the number of Experiencers and Strivers within a geographic area based on
PRIZM analysis
C. implemented when marketers want to differentiate between the Young Digerati,
Cosmopolitans, and American dreams
D. used solely with benefit segmentation and includes an assessment of lifestyle choices based
on activities, interests, and opinions. correct answers A. constructed by surveying customers
about various product attributes and developing a graph indicating the relative position of
competitors
A company is entering the deodorant market. Its marketing manager decides that the market
should be divided on the basis of whether the consumers are nonusers, light users, or heavy users
of deodorants. Which of the following approaches to segmentation is the company using?
,A. Post hoc segmentation
B. A posteriori segmentation
C. Empirical segmentation
D. A priori segmentation correct answers D. A priori segmentation
World Explorer Cruises advises that it sells "Cruises for your mind, body, and soul. Even better
it comes in a pint-sized budget!" Way kind of segmentation is the cruise line using?
A. Benefit Segmentation
B. Mass Market Segmentation
C. Geographic Segmentation
D. Demographic Segmentation correct answers B. Benefit Segmentation
Altron Herbals is trying to market a new sunscreen lotion. In order to identify their target market
segment, they have prepared a questionnaire that asks potential consumers about their lifestyles,
especially their activities, interests, and opinions. Based on their answers, the consumers will be
grouped into separate categories. Which of the following market segmentation approaches has
Altron used in this scenario?
A. A priori segmentation
B. Social segmentation
C. Psychographic segmentation
D. Geographic segmentation correct answers C. Psychographic segmentation
The process of dividing a market into groups of similar consumers and selecting the most
appropriate group(s) for the firm to serve is called ____.
A. Mass marketing
B. Market segmentation
C. Test marketing
D. Marketing communication correct answers B. Market segmentation
Which of the following is the primary reason for studying consumer and organizational buyer
behavior?
A. To understand employees' relationships with their organization
B. To determine the effectiveness of an organization's marketing department
C. To provide bases for effective market segmentation
D. To determine an organization's distinctive competencies correct answers C. To provide bases
for effective market segmentation
Which of the following constitutes a viable market segment?
A. A group of products and services that can be mass marketed profitability by a firm
B. A particular group of consumers who have varying preferences for products and services
, C. A group of consumers with needs that can be seldom met by a single product item offered by
a firm
D. A particular group of consumers of a single item who can be served profitability by a firm
correct answers D. A particular group of consumers of a single item who can be served
profitability by a firm
The group or market segment that a company selects to market to is called a ____.
A. Customer Profile
B. Business Group
C. Target Market
D. Differentiated Market correct answers C. Target Market
Which of the following segmentation bases of consumer markets includes income?
A. Behavior
B. Psychographic
C. Demographic
D. Geographic correct answers C. Demographic
Charles and Steve are business partners who want to start a publishing house. Both partners
thoroughly research the market before proceeding with the planning. They believe that the
research results guarantee that the new business will be successful. Which of the following will
help Charles and Steve interpret their research results accurately?
A. Understanding that marketing research studies all the factors that contribute to the success of
a business
B. Considering the results of the research as a final answer to all doubts about setting up the new
business
C. Using the research results as a substitute for decision-making
D. Knowing that even the most carefully executed research can be filled with errors correct
answers D. Knowing that even the most carefully executed research can be filled with errors
Redstone Inc. manufactures and markets computer games. Its latest game, Warrior
Xero, is designed specifically for teenagers. The company recently implemented a free
trial where they invited teenagers to their office to play the game. After the free tria'
the company's market research executives conducted discussion sessions with
teenagers to gain insights into the product and whether any changes needed to be
made. The research conducted by Redstone Inc. best exemplifies ___.
A. Mathematical Modeling
B. Group Experiments
C. Focus Groups
D. Observational Research correct answers C. Focus Groups
Which of the following types of research methods typically involves discussions
