The writer is very fast, professional and responded to the review request fast also. Thank you.
MKTG522 week 3 Quiz
Question 1.(TCO A) In marketing, the identification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes is known as ________.
segmentation
integration
disintermediation
cross-selling
customization
Question 2. (TCO A) The marketing concept holds that ________.
a firm should find the right products for its customers, and not the right customers for its products
customers who are coaxed into buying a product will most likely buy it again
a new product will not be successful unless it is priced, distributed, and sold properly
consumers and businesses, if left alone, won’t buy enough of the organization’s products
a better product will by itself lead people to buy it without much effort from the sellers
Question 3. (TCO A) For a company, A clear, thoughtful mission statement provides employees with a shared sense of purpose, direction, and ________.
profitability
target market feasibility
opportunity
continuous improvement
quality products
Question 4.(TCO C) Travelocity, unlike its competitors in the online air travel industry, provides its customers with a greater variety of services such as cruise reservations, package tours, hotel bookings, and car rentals. This is an example of a(n) ________ strategy.
overall cost leadership
focus
differentiation
diversification
promotional
Question 5.(TCO B) Betsy had always dreamed of opening her own flower shop. Before Betsy opened her florist shop she read all she could about the floral industry. She also consulted several published research reports to understand growth patterns in the local area with particular interest in the location of florists throughout the city. This ________ helped her to decide on the location of her store.
primary data
secondary data
primitive data
tertiary information
licensed information
Question 6. (TCO B) ________ is the process of carefully managing detailed information about individual customers and all customer “touch points” to maximize loyalty.
Customer relationship management
Customer lifetime value
Customer profitability analysis
Customer satisfaction analysis
Customer-value delivery
Question 7. (TCO C) ________ constitutes the relatively homogeneous and enduring divisions in a society, which are hierarchically ordered and whose members share similar values, interests, and behavior.
a culture
a subculture
a social class
a family
a group
Question 8. (TCO C) With respect to consumer decision making, the ________ is the set of strong contenders from which one will be chosen as a supplier of a good or service.
total set
awareness set
consideration set
choice set
decision set
Question 9. (TCO C) Which of the following statements about market segmentation is true?
It involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market.
It is a process of evaluating each segment’s attractiveness and selecting one or more to enter.
It is a process of creating an image or identity of the product in the minds of the target market.
It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.
It is the quality of how marketers go to market with the goal of optimizing their spending to achieve good results.
Question 10.(TCO C) The science of using psychology and demographics to better understand consumers is defined as____________.
Psychographics
Interactionism
Clustering
Demographic transition
Customerization
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more