MKTG Exam 2 Questions and Answers 100% Pass 2024

MKTG Exam 2 Questions and Answers 100% Pass 2024 _____ are goods and services purchased for use either directly or indirectly in the production of other goods and services for resale. a. Impulse goods b. Shopping goods c. Business products d. Unsought products - Answer- Business products Goods and services purchased by the ultimate consumer for personal use are called _____ products. a. business b. primary c. consumer d. secondary - Answer- consumer The determination of whether pencils are consumer products or business products is based on: a. the purpose for which the pencils are purchased. b. the number of pencils purchased. c. the place where the pencils are purchased. d. the total price paid for the pencils. - Answer- the purpose for which the pencils are purchased Kyle plans to buy new tires for a car that his family uses for camping trips. These tires are of the same type like those that are used on General Motors commercial trucks and can be purchased from Industrial Tire Company. The tires that Kyle will buy for his car can be classified as _____ products. a. business b. service c. MRO d. consumer - Answer- consumer The lumber that a carpenter purchases to make a table for a customer can be classified as a(n): a. impulse product. b. business product. c. consumer good. d. final product. - Answer- business product Iron ore and raw cotton are examples of: a. personal products. b. shopping products. c. impulse products. d. business products. - Answer- business products When a product is used in the production of another good that is destined for resale, the product is considered as a(n): a. consumer product. b. business product. c. end product. d. used product. - Answer- business product The division of the total market into smaller, homogenous groups is called _____. a. customer aggregation b. market capitalization c. market segmentation d. brand segmentation - Answer- market segmentation Which of the following is a basic requirement for effective market segmentation? a. The firm must avoid focusing on consumer-dependent variable, such as discretionary income, while conducting market segmentation. b. The market segment must present measurable purchasing power and size. c. The company must expand beyond its marketing capabilities to capture those market segments that have reached the maturity stage in the product life cycle. d. The company must target a large number of small market segments so that they can develop effective strategies to appeal to them. - Answer- The market segment must present measurable purchasing power and size. A firm that divides its customers into homogeneous groups based on their locations is said to be practicing _____ segmentation. a. psychographic b. product-based c. geographic d. demographic - Answer- geographic _____ is the largest metropolitan area in the world. a. New York b. Tokyo c. Mexico City d. London - Answer- Tokyo The Fayetteville-Springdale-Rogers region of Arkansas has approximately 340,000 people. Fayetteville is an urban center and it alone has a population of 60,000. The Fayetteville-Springdale-Rogers region would be classified as a: a. consolidated metropolitan statistical area (CMSA). b. primary metropolitan region (PMR). c. metropolitan statistical area (MSA). d. micropolitan statistical area (μSA). - Answer- metropolitan statistical area (MSA). A micropolitan statistical area is an area that: a. includes a set a counties within an area of 1-million-plus population. b. has a urban center of 50,000 or more inhabitants. c. includes two or more primary metropolitan statistical areas. d. has at least one town of 10,000 to 49,999 people. - Answer- has at least one town of 10,000 to 49,999 people An urban area that include two or more primary metropolitan statistical areas (PMSA) is called a _____. a. metropolitan statistical area (MSA) b. core based micropolitan region (CBMR) c. micropolitan statistical area (μSA)