World's Largest Manufacturers Quiz Questions

19 Questions | By Jackiefeinberg | Updated: Mar 21, 2022 | Attempts: 123

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Chapters 8, 9, 10 & 11

Questions and Answers

1.

A is a group of people or organizations that has wants and needs that can be satisfied by particular product categories, has the ability to purchase these products, and is willing to exchange resources for the products.
- A.
  
  Firm
- B.
  
  Buyer
- C.
  
  Market
- D.
  
  Consumer
- E.
  
  Target
2.

The Coca-Cola Company has over 450 brands in over 195 countries. According to their Web site, their products range from Samurai, an energy drink available in Asia to Vita, an African juice drink. It uses segmentation in this marketing strategy.
- A.
  
  Geographic
- B.
  
  Economic
- C.
  
  Demographic
- D.
  
  Usage-rate
- E.
  
  Multi-positioning
3.

Procter & Gamble markets six different brands of laundry detergent, such as Tide, Era, Gain and Dreft, each targeting a different market segment. This is an example of multi-segment targeting.
- A.
  
  True
- B.
  
  False
4.

A product's position refers to where it is located on store shelves.
- A.
  
  True
- B.
  
  False
5.

When Procter & Gamble (P&G) introduced Liquid Tide to a new segment, consumers in the traditional powdered detergent segment switched to the liquid product. Rather than real sales growth, P&G simply experienced the shifting of existing customers to a new product. This exemplifies a drawback of multi-segment targeting strategy called:
- A.
  
  Demarketing
- B.
  
  Selective perception
- C.
  
  Undifferentiation
- D.
  
  Cannibalization
- E.
  
  Market repositioning
6.

The most popular technique for gathering primary data is observation.
- A.
  
  True
- B.
  
  False
7.

One advantage of Internet surveys is dramatically reduced costs.
- A.
  
  True
- B.
  
  False
8.

When people are hired to record traffic patterns in a shopping mall, they are engaging in research.
- A.
  
  Focus group
- B.
  
  Observation
- C.
  
  Experimental
- D.
  
  Survey sampling
- E.
  
  Sample framing
9.

An intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective is called:
- A.
  
  DSS
- B.
  
  Competitive intelligence
- C.
  
  Industrial espionage
- D.
  
  An audit
- E.
  
  Differential competitive advantage
10.

A is a name, term, symbol, design or combination therof that identifies a seller's products and differentiates them rom competitors' products.
- A.
  
  Brand mark
- B.
  
  Trademark
- C.
  
  Brand
- D.
  
  UPC
11.

Rolex watches are very expensive and can only be purchased in high-end jewelry stores located in large metropolitan areas. Most buyers will accept no substitutions. Rolex watches are an example of a shopping product.
- A.
  
  True
- B.
  
  False
12.

Coca-Cola is one of the world's largest manufacturers of beverages. It makes over 2,800 different beverage products, including sparkling drinks, waters, juices, juice drinks, teas, coffees, sports drinks, and energy drinks. The great variety of beverages made by Coca-Cola represents is product mix.
- A.
  
  True
- B.
  
  False
13.

Labels that contain standard promotional claims like "new", "improved", and "super" are examples of labels.
- A.
  
  Descriptive
- B.
  
  Functional
- C.
  
  Informational
- D.
  
  Persuasive
14.

The Internet offers a fast, cost-effective way to conduct test marketing.
- A.
  
  True
- B.
  
  False
15.

Martina lovers her new Kindle and has tweeted to her followers several times about how great the product is. This is an example of communications directly from the marketer to potential adopters.
- A.
  
  True
- B.
  
  False
16.

The process by which the adoption of an innovation spreads is referred to as:
- A.
  
  Diffusion
- B.
  
  Circulation
- C.
  
  Transmission
- D.
  
  Dissemination
- E.
  
  Dispersion
17.

Liz tends to adopt new products sooner than a lot of other people, but she weighs the pros and cons before buying. She does a considerable amount of product research, but her friends don't really look to her for information. She really deliberates before she makes a purchase. Liz is best described as a(n):
- A.
  
  Innovator
- B.
  
  Early adopter
- C.
  
  Early majority
- D.
  
  Late majority
- E.
  
  Laggard
18.

A long-run drop in sales signals the beginning of which stage in the product life cycle?
- A.
  
  Laggard
- B.
  
  Saturation
- C.
  
  Deterioration
- D.
  
  Decline
- E.
  
  Decay
19.

The two techniques considered most useful for generating new product ideas are brainstorming and competitive information.
- A.
  
  True
- B.
  
  False