Marketing MBA-565 quiz 3

Question

1.In ________ marketing, the firm operates in several market segments and designs different products for each segment. (Points : 5)

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segmented

undifferentiated

differentiated

geodemographic

niche

2.In evaluating different market segments, the firm must look at two factors: the segment’s overall attractiveness and ________. (Points : 5)

company’s objectives and resources

the product to be sold

the purchasing process

competition’s strategies

the global nature of the product

3.In principle, business buyers seek to ________ in relation a market offering’s costs. (Points : 5)

spread risks

obtain the highest benefit package

maintain everyday low prices

outsource as much as is possible

eliminate partners’ shares in profits as much as possible

4.________ is composed of all parties who participate in the purchasing decision-making process and share common goals and risks associated with their decisions. (Points : 5)

The buying center

The marketing sales team

Strategic management

Engineering support

The logistics center

5.All of the following are methods of assessing customer value EXCEPT ________. (Points : 5)

direct survey questions

exit interviewing

focus-group value assessment

conjoint analysis

benchmarks

6.Webster cautions that ultimately, ________ make purchasing decisions. (Points : 5)

only senior managers

individuals, not organizations,

organizations, not individuals,

third parties

systems contractors

7.Johnson & Johnson broadened its target market for its baby shampoo to include adults through ________. (Points : 5)

countersegmentation

metamarketing

undifferentiated marketing

product specialization

single-segment concentration

8.If a market is segmented according to light, medium, and heavy product users, the marketer segmenting this market is using the ________ as the means to segment. (Points : 5)

user status

usage rate

buyer-readiness stage

occasion

benefit

9.When buyers cannot easily monitor supplier performance, the supplier might shirk or cheat and not deliver the expected value. ________ is “some form of cheating or undersupply relative to an implicit or explicit contract.” (Points : 5)

Institutional sale

Opportunism

Business buying

Vertical integration

Contractual transactionism

10.Many business buyers prefer to buy a total solution to a problem from one seller. ________ is the correct term for this process. (Points : 5)

Channel consolidation

Systems buying

Vertical buying

Horizontal buying

Supply buying

11.The total demand for many business goods and services is ________ —that is, not much affected by price changes. (Points : 5)

derived

fluctuating

accelerated

multiple

inelastic

12.Business markets differ significantly consumer markets in that business markets possess all of the following characteristics EXCEPT ________. (Points : 5)

fewer, larger buyers

close supplier-customer relationship

professional purchasing

inverted demand

multiple sales calls

13.In the proposal solicitation process, ________ should be marketing documents that describe value and benefits in customer terms. (Points : 5)

written proposals

oral proposals

e-proposals

alliance proposals

global proposals

14.A company can be said to have used ________ if the company distinguished among customers buying on the basis of price, service, and quality. (Points : 5)

macrosegmentation

microsegmentation

strategic segmentation

global segmentation

short-term segmentation

15.________ is a key industrial marketing strategy in bidding to build large-scale industrial products (e.g., dams, pipelines, et cetera). (Points : 5)

Systems contracting

Systems buying

Systems selling

Solutions buying

Turnkey logistics

16.According to the ________ criterion for useful market segments, a segment should be the largest possible homogenous group worth going after with a tailored marketing program. (Points : 5)

measurable

substantial

accessible

differentiable

actionable

17.A marketer is interested in segmenting a business market based on technology and customer capabilities. Which of the following major segmentation variables would most likely be used by the marketer to assist with the task? (Points : 5)

Demographic variables

Purchasing approaches

Situational factors

Personal characteristics

Operating variables

18.The purchasing department buys office supplies on a routine basis. This type of purchase is classified as a ________. (Points : 5)

straight rebuy

modified rebuy

new task

secondary purchase

preordained purchase

19.If a marketing manager observes that his or her market shows no natural segments and consumers seem to have roughly the same preferences, the marketing manager will most likely be faced with a ________ preferences pattern. (Points : 5)

homogeneous

heterogeneous

diffused

clustered

scattered

20.Marketers usually identify niches by ________. (Points : 5)

dividing a segment into subsegments

conducting VALS tests

allowing consumers to gravitate toward product brands

examining the demographics section of The Handbook of Marketing

producing products that can be used in a variety of ways

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