2023 Question 1 When consumers share a strong need that cannot be satisfied by an existing product it is called | Assignments Online

  

Question 1

When consumers share a strong need that cannot be satisfied by an existing product, it is called ________. 

A) negative demand 

B) latent demand 

C) declining demand 

D) irregular demand 

Question 2

Consider the real estate industry. The ________ for this industry includes construction companies, financing institutions, paint manufacturers, interior decorators, furniture manufacturers, and plumbing industries.

A) marketspace

B) latent market

C) need market

D) metamarket

Question 3

When demand is ________, it implies that more customers would like to buy the product than can be satisfied. 

A) latent 

B) irregular

C) overfull

D) full

Question 4

What is the traditional view of marketing?

A) Firms should just focus on production because if the products are good then they will automatically sell.

B) Firms should just focus on production and selling because marketing occurs as a part of the selling process.

C) Firms should have a proper marketing team that can increase consumers’ awareness of their products and rouse their interest in them.

D) Firms should price their products as low as possible so that marketing them becomes easy.

Question 5

The value of an offering is described as ________. 

A) the price consumers are charged for a product 

B) the cost of manufacturing a product

C) the degree to which consumer demand for a product is positive 

D) the sum of the tangible and intangible benefits and costs to customers

Question 6

When consumers share a strong need that cannot be satisfied by an existing product, it is called ________. 

A) negative demand 

B) latent demand 

C) declining demand 

D) irregular demand 

Question 7

The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities. 

A) organizational plan 

B) strategic marketing plan 

C) corporate tactical plan 

D) corporate mission

Question 8

________ is a direction or sequence of events that has some momentum and durability; it reveals the shape of the future and can provide strategic direction.

A) fad

B) fashion

c) trend

D) megatrend

Question 9

A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment. 

A) data warehousing system 

B) viral marketing campaign

C) product management system 

D) marketing intelligence system

Question 10

Which of the following would be the best illustration of a secondary belief or value? 

A) belief in work 

B) belief in giving to charity 

C) belief in getting married 

D) belief in getting married early

Question 11

The ________ phase of marketing research is generally the most expensive and the most prone to error. 

A) data collection

B) research planning 

C) questionnaire design 

D) contact

Question 12

According to the concept of ________, a series of increasingly more specific “why” questions can reveal consumer motivation and consumers’ deeper, more abstract goals. 

A) word association 

B) projection

C) visualizing

D) laddering

Question 13

The ________ phase of marketing research is generally the most expensive and the most prone to error. 

A) data collection

B) research planning 

C) questionnaire design 

D) contact

Question 14

The marketing research process begins by ________. 

A) developing a research plan 

B) defining the problem, the decision alternatives, and research objectives 

C) analyzing the internal environment 

D) reading marketing research journals

Question 15

Total customer satisfaction is measured based on the relationship of ________. 

A) expected value and total customer benefit

B) perceived performance and expectation 

C) advertised outcomes and real outcomes 

D) past experience and present experience

Question 16

_______ is the process by which we select, organize, and interpret stimuli into a meaningful and coherent picture.

A) Consumption

B) Perception

C) Acculturation

D) Assimilation

Question 17

________ is the tendency to interpret information in a way that will fit our preconceptions. 

a. Selective retention

b. Cognitive dissonance 

c. Selective distortion

d. Subliminal perception

Question 18

A given percentage increase in consumer demand can lead to a much larger percentage increase in the demand for plant and equipment necessary to produce additional output. Economists refer to this as:

A) derived demand

B) inelastic demand

C) the acceleration effect

D) a straight rebuy

Question 19

A company’s ________ includes all the experiences the customer will have on the way to obtaining and using the offering. 

A) value proposition 

B) value delivery system 

C) customer-value analysis 

D) total customer benefit

Question 20

In reordering office supplies, the only stages that the buyer passes through are the product specification stage and the ________ stage.

A) problem recognition

B) general need description

C) order-routine specification

D) performance review

Question 21

The process of building, maintaining, and using customer databases and other databases for the purpose of contacting, transacting, and building customer relationships is called ________. 

A) data warehousing 

B) data mining 

C) database marketing 

D) participatory marketing

Question 22

Identify the four pillars of brand equity, according to brand asset valuator model.

A) relevance, performance, bonding, and advantage

B) presence, performance, advantage, and bonding

C) energized differentiation, relevance, esteem, and knowledge

D) brand salience, brand feelings, brand imagery, and brand performance

Question 23

Brand equity can be built by ________, which create(s) equity by linking the brand to other information in memory that conveys meaning to customers.

A) internal marketing 

B) brand transferability 

C) secondary associations 

D) customer alignment

Question 24

____ are associations designed to overcome perceived weaknesses of the brand

A) Conceptual points-of-parity

B) Category points-of-parity

C) Competitive points-of-parity

D) Competitive points-of-difference

Question 25

________ brands are positioned with respect to competitors’ brands so that more important (and more profitable) flagship brands can retain their desired positioning. 

A) Flanker 

B) Attacker 

C) Defender 

D) Simulation