Marketing and Five-Step Application of Scientific Method

28 Jun Marketing and Five-Step Application of Scientific Method

Question
Marketing and Five-Step Application of Scientific Method

1. The marketing research process is a five-step application of the scientific method that includes:

a. 0Defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, and solving the problem

b. 0Defining the target market, analyzing the customers, getting survey feedback, interpreting the data, and launching the marketing campaign

c. 0Defining the marketing campaign goals, analyzing the product features, analyzing the situation, getting budget approval, and launching the marketing campaign

d. 0Defining the problem, conducting surveys, analyzing survey feedback, interpreting the data, and changing product attributes

e. 0Defining company goals, analyzing customers, analyzing products, conducting interviews, and changing product attributes

2. What are ethics?

a. 0Pressure on business conduct

b. 0Consumer Bill of Rights

c. 0Standard of societal morals

d. 0Conducted in the United States

e. 0Personal moral principals and values

3. The four major e-marketing domains include all of the following except:

a. 0 Business to Consumer

b. 0 Business to Wholesaler

c. 0 Business to Business

d. 0 Consumer to Consumer

e. 0 Consumer to Business

4. How many variables are there in the marketing mix?

a. 02

b. 03

c. 04

d. 05

e. 06

5. Ideally, “good market segments meet the following criteria:

a. 0 Single market, unique, screening, idea evaluation, and segmented

b. 0 Competitive, homogeneous, diversified, and penetrated

c. 0 Homogeneous, heterogeneous, geographic, and penetrated

d. 0 Homogeneous, heterogeneous, substantial, and operational

e. 0 Substantial, multiple target, operational, and homogeneous

6. Decisions regarding price are important because it affects both:

a. 0 Flexibility and company earnings

b. 0 The number of sales a firm makes and company earnings

c. 0 Product life cycle and discounts

d. 0 Discounts and company earnings

e. 0 Transportation cost and company earnings

7. __________ policy maximizes profits in the market introduction stage for an innovation.

a. 0One price

b. 0Penetration pricing

c. 0Skimming price

d. 0Flexible price

e. 0Multiple price

8. Relationship marketing refers to:

a. 0Ensuring you have a relationship between your product characteristics and price

b. 0Setting a price based on a fixed relationship between revenue and profit

c. 0Working with your suppliers to create a good relationship between them

d. 0Developing promotional material to show your product’s relationship to others

e. 0Establishing an ongoing relationship with your customers to encourage repeat sales

9. All of the following are uses for technology in marketing except:

a. 0 Blogs

b. 0 Fax Campaigns

c. 0 Websites

d. 0 Data Mining

e. 0 Customer Relationship Management

10. The following are all factors affecting a firm’s decision to pursue market segmentation strategy except:

a. 0Similarity of customer needs, attitudes, and buying behavior

b. 0Firm’s resources

c. 0Nature of competition

d. 0Homogeneous markets

e. 0Size of target markets