MKT 200 UNIT 4 QUIZ 2 LATEST-POST

1. MKT 200 UNIT 4 QUIZ 2 LATEST-POST Visit Below Link, To Download This Course: https://www.tutorialsservice.net/product/mkt-200-unit-4-quiz-2-latest-post/ Or Email us on SUPPORT@TUTORIALSSERVICE.NET MKT 200 Unit 4 Quiz 2 Latest-POST MKT200 MKT 200 Unit 4 Quiz 2 Latest-POST Question 1 In a customer-driven marketing strategy, you select specific groups of customers whose needs your service can satisfy. What strategy are you using?     market segmentation mass positioning market targeting differentiation Question 2 Your firm has decided to customize its goods and services to meet local market demands. What segmentation strategy is a good approach to use?      geographic life style final consumer end-use social class education and occupation Question 3

2. Customers show their allegiance to brands, stores or companies. Marketers can use this information to segment customers by:     loyalty status store type brand preference usage rate Question 4 Business markets use some of the segmentation criteria used for consumer markets. Of the options below, which are primarily used in a B2B (business to business) situation and not in a B2C (business to consumer) situation?     operating characteristics and purchasing approaches nations, countries and neighborhoods age, gender, and income life-cycle stage Question 5 When the size, purchasing power and profiles of a market segment can be determined, it possesses the requirement of being:     accessible substantial actionable measurable Question 6 Your company decides to sell a product to a large share of a smaller, concentrated group of business customers. The strategy you are using is called:     micromarketing niche marketing mass marketing undifferentiated marketing Question 7 A company with a food product line directed at children decides to cut the calories, additives and salt from its product offerings. It is practicing socially responsible target marketing.

3.   True False Question 8 Not all brand differences are meaningful or worthwhile, as each has the potential to create costs to the firm as well as benefits to the consumer. If the difference cannot easily be copied by competitors, it is said to be:     distinctive affordable preemptive profitable Question 9 A form of product that consists of activities, benefits or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything is called a:      line extension service brand consumer product supplement Question 10 A name, term, symbol, or design (or a combination of these) that helps distinguish a product from competitive offerings is called a:     line extension label brand package Question 11 A group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges is called a:     product line line extension private brand convenience product

4. Question 12 All of the goods and services that a particular seller offers for sale are called a:     brand extension consumer mix packaging mix product mix Question 13 Which of the following is most likely to be seen as the major enduring asset of a company, outlasting the company’s specific products and facilities?     physical goods inventory brand and reputation specialty services unsought products Question 14 New product development starts with:      concept development concept testing idea generation idea screening test marketing Question 15 Your company decides to use internal sources for developing new product ideas. Which of the following would NOT be consulted?      executives and professionals company records and data entrepreneurial programs suppliers company salespeople Question 16 Which one of the following is the most important external source of new product ideas?   customers competitors

5.   trade magazines, shows, and seminars distributors and suppliers Question 17 A product has a very short life cycle, popular with a narrow audience that causes a quick spike in consumer demand, followed by a quick drop off in popularity. This describes a:     fad fashion style classic Question 18 In a standard Product Life Cycle, it is likely that profits are nonexistent or negative (a loss) during the following phase:     decline maturity introduction growth Question 19 During this stage of the Product Life Cycle, sales start to accelerate significantly, as new customers are attracted to the product offering. Unfortunately, competitors are also attracted and counter-measures may be needed. This stage is called:     product development growth introduction maturity Question 20 Companies need to pay attention to their aging products. Management should regularly review sales, market share, costs, and profit trends to decide whether to maintain, harvest or drop these declining products.   True False

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