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SECTION 1:True and False For each of the following, place a “T” if the statement is “true”, “F” if the statement is false. (20 marks, 2 marks/ Question) _T_ 1. Competitive advantage is a unique strength relative to competitors, often based on quality, time, cost or, innovation._F_2. Market share can be defined in both currency as well as in units sold. Because both ratios calculate market share, market share will be the same for a firm regardless which measurement is used._F_ 3. A “high-involvement purchase” usually involves a considerable amount of time researching the product and the product is a routine purchase. _T_ 4. A company engaged in environmental scanning is continually acquiring information on events occurring outside the organization to identify and interpret potential trends ._ F_5.At the information search stage of the purchase decision process, a consumer compares the product with his or her expectations and is either satisfied or dissatisfied._F_6. A cohesive marketing mix consists of the product, promotion, price, and personnel._F_7.Publicity is any paid form of nonpersonal communication about an organization, good, service or idea by an identified sponsor._T_8. Direct mail and catalog retailing are examples of nonstore retailing._F_9. Market segment would have a collection of prospective buyers that are ready to buy。_F_10. “Marketing” is best described as “promotion”.SECTION 2: Multiple Choice:Choose Just One Answer (Total 40, 2 Marks/Question)1. _ are what is considered normal and expected about the way people do things in a specific country.A. MoralsB.EthicsC. ValuesD.CustomsAns: d2. Questions such as:”What ads do you remember seeing yesterday?” are an example of what type of post-test?A. Aided recallB. Unaided recallC. Inquiry testD. Attitude test.Ans: b3. The group of brands a consumer would consider acceptable from among all the brands in the product class of which he or she is aware is the _.A. evaluative setB. evolved setC. consideration setD. alternative selection groupE. aspiration groupAns: c4.All activities involved in selling renting, and providing goods and services to ultimate consumers for personal, family or household use are known as:A. MarketingB. RetailingC. Personal SellingD. Sales promotionAns: B5.A consumers _ refers to the personal, social and economic significance of the purchase to the consumer.A. involvementB. aspirationC. acculturative responseD. motivationE. selective perceptionAns: a6.At what stage of the PLC (Product Life Cycle) can a higher price usually be charged?A. IntroductionB. GrowthC. MaturityD. DeclineE. R&D EraAns: A.7A company that sets a low initial price on a new product to appeal immediately to the mass market is using _.a) skimming pricingb) penetration pricingc) price liningd) odd-even pricinge) prestige pricingAns: b8.Using Price as a measure of the quality of a product and setting price high is:A. Prestige pricingB. Pricing LiningC. Pricing odd-evenD. Target pricingAns: a9.The main reasons a firm segments its markets are:A. To refine sales forecasts and allow for more product differentiation.B. To create more word-of-mouth in a market.C. To focus advertising and monitor salesD. To respond to different needs and wants in market and increases sales and profitsAns:D10. A(n) _ in the consumer purchase decision process occurs when consumers scan their memory for previous experiences with products or brands.A. problem recognitionB. internal searchC. external searchD. purchase taskE. antecedent stateAns: b11.Selecting target markets means using criteria such as cost of reach the segment and _:A. Size and expected growthB. Marketing investmentC. Density of populationD. Values of customers.Ans: a.12. Using _, many retailers deliberately sell products below their normal prices (and sometimes below cost) to attract attention and induce additional store traffic.A. customary pricingB. above-market pricingC. loss-leader pricingD. prestige pricingE. skimming pricingAns: cFeedback: Loss-leader pricing is deliberately pricing a product below its customary price to attract consumer attention to it. It is hoped that customers will buy other, higher-margin products while in the store.13.Melissa has just told her supervisor, Im so glad I bought the Motorola RAZR2 rather than those other phones I was looking at. I can do my email, access my music and even search the web with it. Its like having a mini-computer in my pocket. Which stage of the consumer purchase decision process is demonstrated by Melissas conversation?A. Problem recognitionB. Information searchC. Alternative evaluationD. Purchase decis
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