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EXAM REVIEW MAR 3023 - EXAM 2 QUESTIONS AND CORRECT ANSWERS 100% PASS, Quizzes of Marketing

Trafford CollegeMarketing

"Volkswagen is determining which advertising message is most effective at improving its reputation among consumers. After extensive research, they have three different options. They ask three groups of consumers to each watch one of the three advertisements. They then give each group a survey and ask, "On a scale from 1-7, how much do you like Volkswagen after watching this ad?" Using the data collected, they run some statistical analysis afterwards to conclude which advertisement is most effective. What type of research design would this be considered? - CORRECT ANSWER=> Experimental" "The most basic (i.e., lowest) level of needs in Maslow's hierarchy that need to be addressed first is: Group of answer choices - CORRECT ANSWER=> Physiological"

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EXAM REVIEW MAR 3023 -
EXAM 2 QUESTIONS AND
CORRECT ANSWERS 100% PASS
"Volkswagen is determining which advertising message is most effective at improving its reputation
among consumers. After extensive research, they have three different options. They ask three groups of
consumers to each watch one of the three advertisements. They then give each group a survey and ask,
"On a scale from 1-7, how much do you like Volkswagen after watching this ad?" Using the data
collected, they run some statistical analysis afterwards to conclude which advertisement is most
effective. What type of research design would this be considered? - CORRECT ANSWER=> Experimental"
"The most basic (i.e., lowest) level of needs in Maslow's hierarchy that need to be addressed first is:
Group of answer choices - CORRECT ANSWER=> Physiological"
"After a bad storm in Tallahassee, Sarah has a leak in her roof. Sarah makes a list of different roofing
companies she can think of. This is an example of which stage of the consumer buying decision process?
Group of answer choices - CORRECT ANSWER=> Information search"
"When Mercedes dropped from the #1 German luxury car to #3, they responded by creating the
cheaper, smaller B-Class. This product is not typical of the luxury cars they usually offer. Their hope was
to attract a new, younger market segment who could now afford the brand, and would become
immersed in the buying cycle. This is an example of: - CORRECT ANSWER=> Repositioning"
"Hilary is looking to buy a new cell phone. In order to make a good decision she reads online reviews
that compare the apple iPhone and Samsung galaxy. Additionally, her friend Kyle is considered a
technology expert, so she asks his opinion as well. In this example, Hilary is conducting which of the
following?
Group of answer choices - CORRECT ANSWER=> External Search"
"Which of the following best represents a Psychographic segmentation base? - CORRECT ANSWER=> one
hour energy promotes their products to people who have busy lives"
"Adaptation is most appropriate in countries with which of the following characteristics? - CORRECT
ANSWER=> unique cultural preferences"
"For the Table Restaurant Group (owner of Township, Madison Social, Centrale, and SoDough Baking Co.)
wants to gather more data about their target market. They reach out to a Google representative and
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Download EXAM REVIEW MAR 3023 - EXAM 2 QUESTIONS AND CORRECT ANSWERS 100% PASS and more Quizzes Marketing in PDF only on Docsity!

EXAM REVIEW MAR 3023 -

EXAM 2 QUESTIONS AND

CORRECT ANSWERS 100% PASS

"Volkswagen is determining which advertising message is most effective at improving its reputation among consumers. After extensive research, they have three different options. They ask three groups of consumers to each watch one of the three advertisements. They then give each group a survey and ask, "On a scale from 1-7, how much do you like Volkswagen after watching this ad?" Using the data collected, they run some statistical analysis afterwards to conclude which advertisement is most effective. What type of research design would this be considered? - CORRECT ANSWER=> Experimental" "The most basic (i.e., lowest) level of needs in Maslow's hierarchy that need to be addressed first is: Group of answer choices - CORRECT ANSWER=> Physiological" "After a bad storm in Tallahassee, Sarah has a leak in her roof. Sarah makes a list of different roofing companies she can think of. This is an example of which stage of the consumer buying decision process? Group of answer choices - CORRECT ANSWER=> Information search" "When Mercedes dropped from the #1 German luxury car to #3, they responded by creating the cheaper, smaller B-Class. This product is not typical of the luxury cars they usually offer. Their hope was to attract a new, younger market segment who could now afford the brand, and would become immersed in the buying cycle. This is an example of: - CORRECT ANSWER=> Repositioning" "Hilary is looking to buy a new cell phone. In order to make a good decision she reads online reviews that compare the apple iPhone and Samsung galaxy. Additionally, her friend Kyle is considered a technology expert, so she asks his opinion as well. In this example, Hilary is conducting which of the following? Group of answer choices - CORRECT ANSWER=> External Search" "Which of the following best represents a Psychographic segmentation base? - CORRECT ANSWER=> one hour energy promotes their products to people who have busy lives" "Adaptation is most appropriate in countries with which of the following characteristics? - CORRECT ANSWER=> unique cultural preferences" "For the Table Restaurant Group (owner of Township, Madison Social, Centrale, and SoDough Baking Co.) wants to gather more data about their target market. They reach out to a Google representative and

purchase demographic and psychographic data about the Tallahassee residents living within 5 miles of Florida State University. This data was gathered by Google originally, but is going to be used by For the Table for a different purpose. What type of data would this be considered? - CORRECT ANSWER=> Secondary Data" "A furniture company that makes its marketing program elements uniform, targeting an entire region with similar products, is demonstrating which of the following? - CORRECT ANSWER=> Standardization" "Buying a pack of Wrigley's Extra gum is a purchase that is characterized by low cost and little risk. This purchase is therefore ______ involvement and ________ decision making: - CORRECT ANSWER=> Low, habitual or routinized" "Some entrepreneurs residing in the U.S., buy products made by Coach, Swarovski, Ray Ban, etc. and export them to countries where the suggested retail is higher than the retail that these entrepreneurs pay. They then make a profit on the margin. This is an example of Group of answer choices - CORRECT ANSWER=> Grey Marketing" "The BRICS countries are forcing many market changes. Which of the following countries is not a part of BRICS? Group of answer choices - CORRECT ANSWER=> Canada" "Rachel needs a new pair of tennis shoes because her puppy Beau ate her old ones. When she goes to Target to buy a new pair of shoes Rachel will most likely engage in which of the following? - CORRECT ANSWER=> Limited Problem Solving" "When expanding into a global market, firms should consider what is most important to them, cutting costs or satisfying customer needs as best as possible. If cost cutting is a focus, the firm should engage in __________. If meeting customer needs as best as possible is the focus, the firm should engage in __________. Group of answer choices - CORRECT ANSWER=> Standardization; adaptation" "Executives at Coca Cola review their sales data from 2014 to estimate the amount of soda products they will sell Florida State University's campus for the fall of 2015. This is an example of: - CORRECT ANSWER=> " "Kix cereal is aimed at mothers with children under age twelve. These mothers represent Kix's: - CORRECT ANSWER=> Target Market" "Which of the following is an important reason why market research is more important and useful right now then ever before? - CORRECT ANSWER=> The availability fo big data" "Rachel was once an exchange student in Finland. She remembers that the McDonalds in Finland served a unique burger called the Ruis McFeast which was served on a rye bun. Adding this menu item would align with which strategy?

"The professor evaluations featured on RateMyProfessors.com are examples of information used in _________ information search. - CORRECT ANSWER=> external" "When the Army is marketing in an attempt to recruit soldiers, they use slogans such as, "Army Strong" and "Be all that you can be," implying that people can reach their full personal potential in the U.S. Army. This is an appeal to what need according to Maslow's hierarchy of needs? Group of answer choices - CORRECT ANSWER=> self- actualization" "Brendan and his girlfriend Lindsy traveled to Egypt and, while they were there, they found a pair of True Religion jeans that cost $39. The jeans normally retail in the U.S. for $109. Being good capitalists, they decided to buy all the store had in stock - 30 pairs - and ship them back to the states for resale at their University in Florida. The practice described in the passage above is called ______and it is ________: Group of answer choices - CORRECT ANSWER=> Gray marketing ; legal" "Adidas analyzed the shoe market and found that there were four distinct groups of people who purchased shoes. Runners, walkers, weightlifters, and sneaker-heads. This concept in marketing is called _______. - CORRECT ANSWER=> Segmentation" "Why would a company use an undifferentiated strategy? - CORRECT ANSWER=> The needs of individual consumers in the target market for a specific product are similar, so the organization can satisfy most customers with a single marketing mix" "Lucky Goat Coffee is about to introduce a new drink that is called the High Climbing Goat. This drink is high in caffeine and also high calories. However, Lucky Goat's largest and most profitable segment of consumers prefer high caffeine, low calorie coffee. Which of the following is the best course of action for Lucky Goat? - CORRECT ANSWER=> Reposition by switching the ingredients so it is high in caffeine and low in calories" "When deciding which toothpaste to buy, Chris purchases the same brand every time. He does not consider any other options because this is the toothpaste he has always bought. Furthermore, he selects this toothpaste brand because it allows him to eliminate another decision from his day. When buying toothpaste, Chris is engaging in: Group of answer choices - CORRECT ANSWER=> Habitual decision making" "Brendan and his girlfriend Lindsy traveled to Egypt and, while they were there, they found a pair of True Religion jeans that cost $39. The jeans normally retail in the U.S. for $109. Being good capitalists, they decided to buy all the store had in stock - 30 pairs - and ship them back to the states for resale at their University in Florida. The practice described in the passage above is called ______and it is ________: Group of answer choices - CORRECT ANSWER=> Grey Marketing, legal" "Imagine you wanted to use the American Customer Satisfaction Index data for a school project on the hotel industry. In this case, the ACSI data are best described as: - CORRECT ANSWER=> Secondary Data"

"Patagonia sends a survey to 100 customers asking them how likely they are to recommend Patagonia outerwear to a friend on a scale from 0 to 10. 75 customers are promotors, 15 are passive, and 10 are detractors. What is Patagonia's Net Promotor Score? - CORRECT ANSWER=> 65%" "Rachel sees an ad for a website where she can put her dog Beau's face on all sorts of products such as socks, blankets, pillows, and coffee cups. The website is using which type of segmenting strategy? - CORRECT ANSWER=> Mass Customization" "In order to compete with Burger King and local chains, McDonald's has recently begun accepting reservations at some locations in Sweden. This form of modifying products and services in a foreign market is known as ______. - CORRECT ANSWER=> Adaptation" "All of the following are examples of applied research questions except: Group of answer choices - CORRECT ANSWER=> What types of anti-smoking campaigns result in reduced smoking in teenagers?" "When checking out at Publix, Jason made an impulse buy of a pack of gum. He made no conscious effort to choose from the different brands and flavors, but just grabbed the gum that he always gets. What kind of decision was this? - CORRECT ANSWER=> Routinized/Habitual" "A student decided to go to UF as a senior in high school. The student got a sinking feeling in her stomach about whether she made the right choice. She wondered, "Should I have selected FSU? FSU is a top 20 public university now." What is the formal term for the sinking feeling she got after choosing, obviously, the wrong school? - CORRECT ANSWER=> cognitive dissonance" "If a certain country considered handshakes in business transactions to be taboo and preferred to use nodding, this would be an example of differences in _____ forces. Group of answer choices - CORRECT ANSWER=> sociocultural" "On a random Saturday Madison Social asks 10 customers how likely they are to recommend Madison Social to a friend. 5 customers are promotors and would be happy to recommend Madison Social. 4 customers are passive and wouldn't recommend the restaurant, but wouldn't say negative things about it either. 1 customer, however, is a detractor and would not recommend Madison Social to a friend. From this information what is Madison Social's Net Promotor Score? - CORRECT ANSWER=> 40%" “Taco Bell in Europe has the "Taco Bell Cantina" product line where they offer beer and wine as well as twisted freezes that contain liquor. This is likely due to differences in culture seeing as most of Europe has a younger drinking age than we have in the US. Changing menu items to fit local tastes is an example of: - CORRECT ANSWER=> Adaptation" "A market research firm has been hired to determine if Lime A Ritas would be a successful extension for Budweiser. They ask individuals to fill out surveys asking if they would purchase this beverage and hold focus groups to determine if consumers enjoy the concept, taste, and packaging. This is an example of collecting: - CORRECT ANSWER=> Primary data"