Liberty University BUSI 330 quiz 3 solutions answers right

Liberty University BUSI 330 quiz 3 solutions answers right

How many versions: 6 different versions

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Question 1

Semantic differential and Likert are question types that uses a(n)

Question 2

A direct forecast involves estimating the value to be forecast and

Question 3

Primary data refer to

Question 4

A general rule of thumb among marketing researchers is to use __________ first and then collect __________.

Question 5

Before opening six Torrid plussizeonly retail stores that cater to women aged 1530, a great deal of information was gathered from a sample of women to determine what types of items should be carried, the image of the store, its advertising, etc. Which of the following is an example of a closedend question that might have been asked?

Question 6

Research and media firm Youth Culture publishes Watch magazine, a teen publication given out free to high school students. Unfortunately, the publication was unable to gauge whether or not it was meeting the needs of its audience. Youth Culture handed out surveys to learn how students felt about the publication. Feedback indicated teen boys and girls were demanding very different things from the publication. This feedback was gleaned from __________ data.

Question 7

A specialized observational approach, in which trained observers seek to discover subtle behavioral and emotional reactions as consumers encounter products in their natural use environment, is referred to as __________ research.

Question 8

The type of question you are answering right now is an example of a(n) __________ question.

Question 9

GI Design is a small studio that designs and builds items such as fountains and tabletops made from copper. To increase sales, Greg, the owner, developed a research plan to determine what landscape architects and interior designers wanted in copper furnishings and appropriate pricing. He had begun to interview representative designers. Greg was engaged in __________, the third step of the fivestep marketing research approach.

Question 10

Million Dollar Baby is an example of a successful movie that could have failed because

Question 11

The William Morris Agency represents country singer Trace Adkins in negotiations with various venues in which he could perform. Imagine that the agency decided the singer would not perform at venues located in small town communities that have less than 100,000 people. Thus, the agency is using __________ segmentation.

Question 12

In the athletic shoe market, Reebok and Nike practice __________ positioning since both manufacturers vie for the same customers with technologically advanced products.

Question 13

Marketing synergies often come at the expense of product synergies because

Question 14

Figure 86 above shows the marketproduct grid for a Wendy's restaurant next to a large urban university campus. Assume a large market (shown by a 3) is three times the size of a small market (shown by a 1) and a medium market (shown by a 2) is twice the size of a small market. The meal occasion (product grouping) that comprises the largest product grouping is

Question 15

The 80/20 rule suggests that

Question 16

In Figure 81 above, C represents which stage of the market segmentation process?

Question 17

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a __________.

Question 18

Product features and usage rate are both variables used to employ __________ segmentation.

Question 19

The market segmentation strategy known as frequency marketing focuses on

Question 20

The Walt Disney Company carefully markets two distinct WinniethePoohs; one is the original linedrawn figure on fine china sold at Nordstrom and the other is a cartoonlike Pooh on polyester bed sheets sold at Target. This is an example of

Question 21

The addition of Clorox II bleach to Tide laundry detergents is an example of a

Question 22

A 3M researcher worked with university students to develop the Postit→ Flag Highlighter. His team evaluated the technical feasibility of the proposed design and determined whether the idea met the firm's newproduct objectives. At which stage of the newproduct process was this product?

Question 23

With respect to price, which of the following type of consumer product would usually be very expensive?

Question 24

The stage of the newproduct process that develops a pool of concepts to serve as candidates for new products is referred to as __________.

Question 25

A product that is new in some way but requires no new behaviors to be learned by consumers is a

Question 26

The emergency room staff in Houston's largest hospital is pleasantly surprised when a fourday Fourth of July weekend brings in few accident victims for treatment. They know from experience that such public holidays usually have high rates of accidents. For the hospital's business office, the lower demand for the emergency room services means

Question 27

In marketing, an idea is

Question 28

With respect to distribution, shopping products are available

Question 29

Speed or __________ is often vital in introducing a new product.

Question 30

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable. The Love Bandit Bear is designed for people to give to each other on Valentine's Day. The unique identification number that the Vermont Teddy Bear Company uses to distinguish this Teddy bear from the others in order to track it in the warehouse is called a(n)

Question 1

Figure 7‑1

According to Figure 7‑1 above, specifying constraints occurs during which step of the five‑step marketing research approach?

Question 2

DirectProtect is an insurance provider that uses telemarketers rather than insurance agents to sell its insurance and to deal with claims. It wants to introduce its product into new markets, but before it does so, it wants to predict how successful its sales efforts will be. The marketing research firm hired to conduct the research study has six months to gather, analyze, and present its data to DirectProtect. The required time frame is an example of a(n)

Question 3

Fisher‑Price watches young children play with its toys to determine if and how various products should be changed or improved. Fisher Price is collecting __________ data.

Question 4

The type of question you are answering right now is an example of a(n) __________ question.

Question 5

Primary data refer to

Question 6

One test of whether marketing research should be done is if

Question 7

The Minnesota Twins, a professional baseball team, wanted to develop creative ways to boost sagging attendance at its ball games. The Twins hired a moderator who, after every home game during the month of July, led informal discussions with groups of 6 to 10 fans to find out what they did and did not like about the baseball team and their experience at the stadium. Discussions were videotaped for later review. These informal research sessions are called

Question 8

Secondary data are the

Question 9

What marketing metric determines whether a TV program like American Idol remains on the Fox broadcast TV network?

Question 10

Obtaining primary and secondary data would take place during which stage of the five‑step marketing research approach?

Question 11

All of the following are market segmentation strategies EXCEPT:

Question 12

Product differentiation refers to

Question 13

Tony Hsieh, CEO of Zappos, offers one month's salary to anyone who

Question 14

The company name Zappos was chosen because it

Question 15

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing one, but seems worthwhile if it serves customers' needs better, doesn't reduce quality or increase price, and

Question 16

A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products is referred to as __________.

Question 17

Variables such as location, the North American Industry Classification System (NAICS) code, and number of employees are all examples of ways to

Question 18

Variables that are based on some objective physical (gender, ethnicity), measurable (age, income), or other classification attribute (occupation) of prospective customers are used in which segmentation base?

Question 19

During its market segmentation process for the Nike LeBron X basketball shoe, which sells for $200+ a pair, Nike decided to concentrate on affluent teens rather than members of high school basketball teams. This is an example of

Question 20

Todd Harris and Associates, a New York sales promotion agency, discovered from an analysis of its files that one‑quarter (or 25 percent) of its clients generated more than three‑quarters (or 75 percent) of its fees and commissions. This is an example of what classic concept?

Question 21

LG Electronics Inc. has entered into an agreement with Google to offer selected smartphone models that use a multitouch interface rather than buttons to make calls with Google's Android operating system. When the multitouch interface was first introduced, it was an example of which type of innovation?

Question 22

Which of the products listed below would be the best candidate for full‑scale market testing?

Question 23

UMD9: Marketing Dashboard Map

In the UMD9: Marketing Dashboard Map above, the annual growth rate in each state is shown, with green (which looks gray on printed paper) meaning good and red (which looks black on printed paper) meaning very bad. If an organization's 2013 sales for the entire U.S. were $50 million and its 2012 U.S. sales were $30 million, what is the annual % sales change?

Question 24

Figure 9‑1

As shown in Figure 9‑1 above, which of the following statements is most accurate?

Question 25

In terms of promotion, which of the following type of consumer product stresses product differentiation from competitors?

Question 26

Consumer products refer to

Question 27

The type of business products known as support products includes installations, supplies, accessory equipment, and __________.

Question 28

Breyer's introduced a new line of ice cream flavors for sale in elegant black containers. This was done on a limited scale to determine consumer reactions before national distribution of the product. Breyer's new product was in the __________ stage of the new‑product process.

Question 29

Ideally, before a new product or service is developed, a firm should have a precise protocol, which is a statement that identifies: (1) __________; (2) specific customers' needs, wants, and preferences; and (3) what the product or service will be and do to satisfy consumers.

Question 30

The emphasis of a marketing strategy for a dynamically continuous innovation would include