ashland-mba507-midterm-exam

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·
Question
1

2 out of 2 points

According to VALS™, _____ are the type of
consumers that have few resources, are more concerned with safety and
security, and do not show a very strong primary motivation.

·
Question
2

2 out of 2 points

_____ refers to an approach that identifies specific
households in a market by focusing on local neighborhood geography (such as
zip codes) to create classifications of actual, addressable, mappable
neighborhoods where consumers live and shop.

·
Question
3

2 out of 2 points

Danko, Inc. has manufactured a new line of
wristwatches that can withstand extreme conditions, such as below freezing
temperatures. The watches are also waterproof and heat-resistant. The company
is marketing these watches specifically to adventurers and extreme sports
enthusiasts, such as mountain climbers and scuba divers. Danko positioned
their line of wristwatches:

·
Question
4

2 out of 2 points

An advertisement for First Union Bank describes the
bank as not only providing all banking services a consumer could ever want,
but also offering brokerage house services. Instead of just competing against
banks, First Union increased its versatility by positioning its services:

·
Question
5

2 out of 2 points

Which of the following is the most
market-oriented approach to segmentation?

·
Question
6

2 out of 2 points

The Hector & Gable Corporation conducted a research
study that found that vacuum brick-packs of coffee sell much better in the
urban uptown than coffee that is canned. As a result, Hector & Gable
repackaged their Danver brand of coffee for the urban uptown and developed an
advertising campaign to market them to the region. Sales of Danver coffee in
this region were found to have increased by 32 percent. In this example,
Hector & Gable used _____ segmentation to market its coffee.

·
Question
7

2 out of 2 points

According to the VALS™ framework, which of the
following psychographic groups may be motivated by any of the three motivations
of achievement, self-expression, and ideals?

·
Question
8

2 out of 2 points

Which of the following statements is true about a
firm’s decision to “mass market” a product?

·
Question
9

2 out of 2 points

Which of the following observations about
geodemographic segmentation is true?

·
Question
10

2 out of 2 points

Johnson & Coleman has created a new line of
premium quality writing desks. The desks are being marketed to consumers who
value knowledge and principles. According to the VALS™, which of the following
psychographic groups would the writing desk appeal to the most?

·
Question
11

2 out of 2 points

It is important for the mission statement to be
_____ because it provides a shared sense of purpose outside the various activities
taking place within the organization.

·
Question
12

2 out of 2 points

Biotex is an enterprise that is composed of three
parts. Its biotech section, which is working to develop crops that are pest
and disease-resistant, provides about half of its sales. Pharmaceuticals from
its G.D. Searle subsidiary contribute a third of its revenues; and food
products, dominated by the artificial sweetener NutraSweet, make up less than
20 per cent of its total revenue. These three divisions under Biotex would
generally:

·
Question
13

2 out of 2 points

The cooperative environment includes:

·
Question
14

2 out of 2 points

Which of the following observations pertains to
strategic business units?

·
Question
15

2 out of 2 points

When weekend gardeners think of mulch to put
around their plants and keep away the weeds, they tend to think in terms of
pine bark, wood chips, or pine straw. Slatescape has developed mulch made out
of crushed slate rock. The company first targeted landscape businesses and
was successful in marketing to businesses and to government agencies. In
order to expand its business, the company must now educate consumers about
the product. Slatescape will be implementing a _____.

·
Question
16

2 out of 2 points

_____ are methods used to determine how resources
should be allocated among the various SBUs.

·
Question
17

2 out of 2 points

Why is it disadvantageous for a company to carry on
business as usual for too long?

·
Question
18

2 out of 2 points

The _____ involves a set of controllable variables
that must be managed to satisfy the target market and achieve organizational
objectives.

·
Question
19

2 out of 2 points

The removal of tariffs on the importation of
Canadian lumber will adversely affect the U.S. lumber industry because Canada
is able to produce lumber much more inexpensively than the U.S. This tariff removal
is an example of how the _____ environment can affect businesses.

·
Question
20

2 out of 2 points

An organization seeking to make a profit by serving
the needs of customer groups, rather than depending only on its current
products or devising methods to attract consumers, has a _____ orientation.

·
Question
21

2 out of 2 points

What is the legal term for a brand?

·
Question
22

2 out of 2 points

A company changes the packaging of one of its
existing products to make it more attractive to consumers. The company has
undertaken product improvement by changing the _____.

·
Question
23

2 out of 2 points

Lumber, coal, and iron ore are examples of _____.

·
Question
24

2 out of 2 points

In _____, a current brand name is used to enter a
completely different product class.

·
Question
25

2 out of 2 points

Price, promotion strategy and channels of
distribution are examples of _____.

·
Question
26

2 out of 2 points

Spending significant amounts of money to
familiarize customers with new brands is a disadvantage primarily associated
with _____.

·
Question
27

2 out of 2 points

Which of the following statements is true?

·
Question
28

2 out of 2 points

In a _____, one person is responsible for
overseeing an entire product line with all of the functional areas of marketing
such as research, advertising, sales promotion, sales, and product planning.

·
Question
29

2 out of 2 points

What is diffusion of innovation?

·
Question
30

2 out of 2 points

Which of the following statements is the true of
a venture team?

·
Question
31

2 out of 2 points

The appearance of special guest stars on a
regular television show is a strategy used to find new viewers for the existing
show. It also helps in increasing the market share of the network that airs
the show. Television networks encourage such guest appearances to implement
which of the following growth strategies?

·
Question
32

2 out of 2 points

“Counting to 50 Has Never Been Easier” is how Healthfood
Inc. markets its range of snacks. All snacks offered by this company are of a
count of 50 calories. This is an example of marketing the _____.

·
Question
33

2 out of 2 points

Light Eats is a buffet-style salad bar with
locations in the South, West, and Midwest United States. It serves a variety of
salads and soups for the health conscious. Recently it has introduced ‘Frozen
Fruit’ bars serving ice creams and sorbets that are made from fresh fruits
and vegetables. Which of the following new product categories does the
‘Frozen Fruit’ bar fall into?

·
Question
34

2 out of 2 points

Dynamic Technologies, Inc. had an idea for a new airplane
rudder. When it could not gain access to the resources it needed to develop
the new product, it entered into a long-term partnership with Starway
Airlines. Today Starway uses this rudder on its commercial passenger jets.
The relationship between Dynamic Technologies and Starway is an example of
a(n) _____.

·
Question
35

2 out of 2 points

To facilitate top-management support, it is
essential that new product development be focused on:

·
Question
36

2 out of 2 points

What is the main goal of a test market?

·
Question
37

2 out of 2 points

Which of the following statements about the
importance of time to market is true?

·
Question
38

2 out of 2 points

Dexo Co. plans to launch a new version of its
soft drink Lime n’ Lemon. The new drink will be similar to the current Lime n’
Lemon, but it will be fortified with vitamins and minerals. The company has
decided to market this new drink as Lime n’ Lemon Extreme. Which of the
following new product categories does this new soft drink fall into?

·
Question
39

2 out of 2 points

_____ is a method of creating and managing the project
teams, where groups in different areas of the company simultaneously work on
the project.

·
Question
40

2 out of 2 points

After spending years developing and testing a new
MP3 player, Musique, Inc. has finally launched its new product in the market.
The company has assigned its best marketing managers to handle the launch. It
has also employed an extensive marketing campaign with ads in television,
newspapers, and billboards. Which of the following stages of the product
development process is Musique currently in?

·
Question
41

0 out of 2 points

Which of the following sources of information
regarding a purchase decision includes factors such as advertising,
salespeople, dealers, packaging, and displays?

·
Question
42

2 out of 2 points

Tracy has always wanted to become a doctor. She
believes that her life’s true calling is to help others and save lives. Tracy
works at two part-time jobs to pay for medical school. According to Maslow’s
hierarchy of needs theory, which of the following gives Tracy her drive and
focus?

·
Question
43

2 out of 2 points

The disconfirmation paradigm is used to study two
variables: consumer prepurchase expectations and _____.

·
Question
44

2 out of 2 points

Which of the following statements is true with regard
to reference groups?

·
Question
45

2 out of 2 points

Which of the following products is likely to
elicit the greatest reference group influence?

·
Question
46

2 out of 2 points

The behavior of individual members is influenced
by social classes which tend to have:

·
Question
47

2 out of 2 points

Which of the following distinguishes the American
middle class from the working class?

·
Question
48

2 out of 2 points

Sarah is afraid she has over-planned her son’s sixth
birthday party. She is concerned the other parents will ridicule the fact
that she hired a magician and a clown, rented three ponies, and had a
portable water slide installed for the party. Which of the following
observations about Sarah’s perceived risk is true?

·
Question
49

2 out of 2 points

Which of the following is a useful way of
classifying and segmenting certain markets because it combines trends in
earning power with demands placed on income?

·
Question
50

2 out of 2 points

Which of the following statements is true with
regard to the disconfirmation paradigm?

Saturday, October 17, 2015 6:50:00 PM
ED

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