Question

1. A federal agency which aims at preventing persons or corporations from using unfair methods of competition in commerce is:

   	A.	the Federal Trade Commission (FTC).
   	B.	the Food and Drug Administration (FDA).
   	C.	the Consumer Product Safety Commission (CPSC).
   	D.	the Bureau of Consumer Protection.

1. 80/20 principle holds that 20 percent of all customers generate 80 percent of the demand. Although the percentages usually are not exact, the general idea often holds true. Which consumer market segment is described here?

   	A.	Benefit segmentation
   	B.	Geographic segmentation
   	C.	Market segmentation
   	D.	Usage-rate segmentation

1. With regard to age segmentation, the tween and teenage cohort following the Millennials is sometimes called _____.

   	A.	Generation X
   	B.	the Baby Boomer generation
   	C.	Generation Z
   	D.	the Silent Generation

1. _____ is market segmentation on the basis of personality, motives, and lifestyles.

   	A.	Family life cycle segmentation
   	B.	Usage-rate segmentation
   	C.	Psychographic segmentation
   	D.	Benefit segmentation

1.6 points   

QUESTION 44

1. Gamers’ Page is a magazine that primarily caters to people who are enthusiastic about sports and who enjoy gaming. In this scenario, the editorial board of Gamers’ Pageuses _____.

   	A.	gender segmentation
   	B.	geographic segmentation
   	C.	psychographic segmentation
   	D.	family life cycle segmentation

1.6 points   

QUESTION 45

1. .  The combination of demographics, lifestyles, and geographic categories leads to ______________.

   	A.	geodemographic segmentation
   	B.	benefit segmentation
   	C.	usage-rate segmentation
   	D.	psychographic segmentation

1.6 points   

QUESTION 46

1. A concentrated targeting strategy differs from an undifferentiated targeting strategy in that a concentrated targeting strategy:

   	A.	results in cannibalization of products.
   	B.	involves the selection of a market niche to target the marketing efforts of a firm.
   	C.	views the market as one big market with no individual segments.
   	D.	reduces the production and marketing costs of a firm.

1.6 points   

QUESTION 47

1. Apple saw a huge drop in the sales of its iPhone 6s when they launched the iPhone 7. This situation exemplifies _________________, that is, when a new product cuts into the sales of existing products within the same company.

   	A.	cannibalization
   	B.	repositioning
   	C.	competition
   	D.	positioning

1.6 points   

QUESTION 48

1. The first step in the marketing research process is to

   	A.	specify the sampling procedures to be followed.
   	B.	collect primary data from available sources.
   	C.	prepare and present a report
   	D.	recognize a marketing problem or opportunity.

1.6 points   

QUESTION 49

1. Company websites, annual reports, reports to stockholders, blogs, YouTube videos, and social media posts are examples of ___________.

   	A.	secondary data
   	B.	primary data
   	C.	tertiary data
   	D.	marketing research

1.6 points   

QUESTION 50

1. The most popular technique for gathering primary data is _____.

   	A.	survey research
   	B.	observation research
   	C.	ethnographic research
   	D.	experimental research

1.6 points   

QUESTION 51

1. _____________ is information that is collected for the first time; used for solving the particular problem under investigation.

   	A.	Primary data
   	B.	Secondary data
   	C.	Big data
   	D.	Marketing data

1.6 points   

QUESTION 52

1. A(n) ______________ consists of 7 to 10 people who participate in a group discussion led by a moderator

   	A.	focus group
   	B.	interview group
   	C.	secondary data group
   	D.	research group

1.6 points   

QUESTION 53

1. When considering sampling procedures, a _____ is a sample in which every element in the population has a known statistical likelihood of being selected.

   	A.	snowball sample
   	B.	probability sample
   	C.	judgment sample
   	D.	convenience sample

1.6 points   

QUESTION 54

1. Which of the following is a field of marketing that studies the body’s responses to marketing stimuli?

   	A.	Neuromarketing
   	B.	InfoScan
   	C.	Scanner-based research
   	D.	Marketing research

1.6 points   

QUESTION 55

1. Carrying over a well-known and respected brand name from one product category to another product category is referred to as:

   	A.	brand stretching.
   	B.	brand extension.
   	C.	brand promotion.
   	D.	brand building.

1.6 points   

QUESTION 56

1. _____ is the set of values, norms, attitudes, and other meaningful symbols that shape human behavior and the artifacts, or products, of that behavior as they are transmitted from one generation to the next.

   	A.	Loyalty
   	B.	Culture
   	C.	Consumerism
   	D.	Perceived value

Answer 1

1. A federal agency which aims at preventing persons or corporations from using unfair methods of competition in commerce is the Federal trade commission (FTC). Hence,option(A) is correct.

2. With regard to age segmentation , the tween and teenage cohort following the Millennials is sometimes called Generation Z. Hence,option(C) is correct.

3. Psychographic segmentation is the market segmentation on the basis of personality, motives and lifestyles. Hence,option(C) is correct.

4. In this scenario, the editorial board of Gamers page uses Psychographic segmentation. Hence,option(C) is correct.

5. The combination of demographics, lifestyles and geographic categories leads to geodemographic segmentation. Hence,option(A) is correct.