29 Jun All of the following statements are true EXCEPT
Question
Question 1 All of the following statements are true EXCEPT: A. It is generally easier to gain customer acceptance by producing/introducing variants of significantly higher quality. B. Consumers often appreciate limited product variants. C. Operational issues influence the decision to add a variant. D. JIT manufacturing often passes costs on to suppliers. E. Many distribution channels like to be able to get multiple items from the same supplier.
Question 2 The _____________________ method allows the product manager to infer the importance of different product attributes from customer rank orderings of alternative product bundles of attributes. A. perceptual mapping B. conjoint analysis C. analytical weight D. feature mapping E. attribute mapping
Question 3 The maximum sales reasonably attainable under a given set of conditions with a specified period of time is BEST described by the term: A. potential. B. forecast. C. quota. D. expectation. E. regression.
Question 4 The firm’s efforts are ultimately driven by: A. the company mission/vision. B. corporate objectives. C. corporate strategies. D. product/brand objectives. E. program objectives.
Question 5 Product modification may be accomplished through: A. changes in the physical product. B. changes in the channels of distribution C. change sin pricing/advertising strategy. D. change sin service(s). E. any/all of the above
Question 6 A successful strategy: A. enhance coordination. B. defines how resources will be allocated. C. leads to a superior market position. D. all of the above E. none of the above
Question 7 A competitively sensible marketing strategy: A. is something a competitor cannot do. B. is something a competitor will choose not to do. C. would put competitors at a disadvantage if they do it. D. would cause us to gain if competitors do it. E. any of the above
Question 8 The product manager must attempt to forecast: A. sales/market share. B. profits. C. costs/resources. D. technological/economic environments. E. all of the above
Question 9 During the decline stage of the PLC: A. sales are declining. B. a “shakeout” occurs. C. older products are being obsoleted. D. the last firm in the market may be profitable for some time. E. all of the above
Question 10 For which of the following is the PRIMARY goal of advertising achievement of awareness and trial? A. existing product, mature market B. existing product, dynamic growing market C. slightly new product D. really new product E. all of the above
Question 11 Most “new” products are: A. new-to-the world products. B. radically new products. C. continuous innovations. D. discontinuous innovations. E. technological breakthroughs.
Question 12 Database marketers typically evaluate and segment customers in their databases according to: A. recency. B. frequency. C. monetary value. D. all of the above E. none of the above
Question 13 The term “customer” includes: A. current customers. B. customers of competitors. C. current noncustomers. D. intermediate customers. E. all of the above
Question 14 Customer reaction may involve: A. discrimination. B. preference. C. reaction to change. D. any of the above E. none of the above
Question 15 The objective of increasing profitability may be accomplished by: A. reducing costs. B. improving asset utilization. C. concentrating on customer retention. D. improving the sales mix. E. all of the above
Question 16 The most commonly used new product forecasting technique is: A. customer/market research. B. trend-line analysis. C. moving averages. D. exponential smoothing. E. jury of executive opinion.
Question 17 Product managers seek to maximize the size of which of the following consumer segments? A. aware B. advocates C. attracted D. active E. accepting
Question 18 All of the following strategic alternatives are aimed at improving long-term profits through growing sales or market share EXCEPT: A. market development. B. market penetration. C. price increases. D. entering new segments. E. new product development.
Question 19 Forecasting consumer behavior: A. requires judgments about what might cause behavior to change. B. requires judgments about likely changes in causal factors. C. requires analysis of the impact of likely changes on consumer behavior. D. all of the above E. none of the above
Question 20 Sales may be increased by: A. pursuing new segments. B. developing new products. C. enlarging existing segments. D. increasing the purchase rate. E. all of the above
Question 21 Historical data is composed of: A. a base value. B. trend. C. cycle(s). D. randomness. E. all of the above
Question 22 Under a _________________ rule, each attribute importance weight is multiplied by the attribute value and a sum computed for each person and product. A. lexicographic B. conjunctive C. compensatory D. zero-sum E. problem solving Generally, _________________ accounts for the bulk of the test marketing budget. A. distribution B. production C. advertising/promotion D. pricing E. packaging Question 24 The value customers have assigned to a brand is indicated in the market by: A. its ability to command a higher price. B. higher margins. C. strong, positive word-of-mouth. D. high repeat purchase rates. E. all of the above Question 25 Both potentials and forecasts depend upon: A. what customers do. B. what the firm does. C. what competitors do. D. what occurs in the general environment. E. all of the above Question 26 In practice, market segmentation is usually accomplished through the use of: A. cluster analysis. B. tabular analysis. C. regression analysis. D. all of the above E. none of the above Question 27 In order to estimate the saturation level and the time pattern of market development, the firm must compare its offerings against competitive offerings vis-à-vis: A. relative advantage. B. compatibility. C. risk D. all of the above E. none of the above Question 28 Brand equity may be based on: A. brand loyalty. B. brand awareness. C. perceived quality. D. brand associations. E. any, or all, of the above Question 29 Which of the following situations present the MOST difficult analytical/decision-making difficulties? A. really new products B. existing products in a mature market C. slightly new products D. existing products in a dynamic/growing market E. all are equally difficult Question 30 Existing products may be made “new” through: A. continuous quality improvement. B. redesign. C. updated styling. D. any of the above E. none of the above Question 31 The MAJOR problem associated with developing new products is: A. the shortage of new product ideas. B. the ability to recognize good ideas. C. the shortage of capable personnel. D. the shortage of funding. E. the lack of interest in the task. Question 32 Brand associations form a(n): A. brand personality. B. brand status. C. prestige brand. D. stable image. E. personal image. Question 33 Consumers are MOST heavily involved in: A. market testing. B. sales force composite methods. C. the jury of expert opinion approach. D. the Delphi method. E. all of the above Question 34 Forecast accuracy is especially important when: A. the price of the product is high in either absolute or relative terms. B. product demand is relatively volatile. C. the cost of an error in forecasting is high. D. all of the above E. none of the above Question 35 For really new products, the MOST critical factors in adoption are: A. compatibility and social risk. B. relative advantage and financial risk. C. observability and complexity. D. D.trialability and divisibility. E. communicability and financial risk. Question 36 All of the following strategic alternatives are aimed at improving efficiency and short-term profits EXCEPT: A. improving asset utilization. B. new product development. C. increasing outputs. D. decreasing inputs. E. reducing costs. Question 37 An effective positioning strategy: A. is meaningful to customers. B. is feasible given resources and customer perceptions. C. competitively sensible. D. assists in meeting product objectives. E. all of the above Question 38 Which of the following uses of market potential estimates has the GREATEST impact upon market strategy and programs? A. making entry/exit decisions B. making resource level decisions C. setting targets and evaluating results D. making location/resource allocation decisions E. input to forecasts Question 39 Segmentation can be useful for: A. consumer products. B. industrial products. C. low-tech products. D. high-tech products. E. all of the above Question 40 Generally, the MOST important entity in the purchase process is the: A. initiator. B. influencer. C. decider. D. purchaser. E. user.
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