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Race Lecture 6 consists of the people, equipment and procedures to gather, sort, analyze ND distribute accurate information to marketing decision makers 2. SQ Which of the following Is a problem with the using internal databases 3. SQ The goal of Is to Improve strategic decision making, access and track com… 4. 5. 6. 7. SQ marketing research links the consumer, customer and public… SQ What are the four steps, In order, of the marketing research process? SQ what Is the often the hardest step In the marketing research process?
SQ The objective of is to gather preliminary information that will help define the problem and suggest reasons 8. SQ Researchers usually start with when developing the research plan 9. SQ The three types of research approach and marketer may use are < < and 10. QUO One of the biggest challenges facing marketing researchers today is that some consumers believe collecting Lecture 7 1 . The External factors that Influence consumer behavior are 3. The process of selecting, organizing and interpreting information to form a meaning full picture of the world is referred to as 4. Perceptual processes are selective selective and selective 5. When a person changes his/her behavior as a result of an experience, we say that has occurred 6. If a person’s attitude relents one of hi/her core values, then the attitude is easy to hang (y or n) 7. A group, which we would like to belong to is called desirable group?? Membership?? 8. Involvement with a product is due to frequent purchase (y or n) 9. A consumer who takes on the role of suggesting or thinking of the idea of buying particular goods or services in a family is called Lecture 9 1 .
The most common mistakes made by companies when setting prices are (l changed the order of the answers) a. All of the above are common mistakes made by companies b. Prices are not varied enough for different product items or different segments c. Prices do not take the rest of the marketing mix into account . Prices are not revised often enough e. Prices are too costs-orientated 2. When a company sets the prices of its products to yield a given profit on a level of investment, it is using a. Cost-plus pricing b. Consumer value pricing c. Break-even and target profit pricing d. Buyer-based pricing approach e.
Maximum profit pricing 3. A computer company that offers the computer, printer, software and scanner for a single price is an example of (slide 36) a. Product/service line pricing. B. D. E. Consumer value pricing Captive pricing Optional/product service pricing Product/service bundle pricing Cost-plus or mark-up pricing is a popular method because (Slide 22) a. Sellers frequent price adjustments as demand changes c. D. It is considered fairer to both buyer and seller e. All of the above It simplifies pricing for sellers Internal factors affecting pricing decisions include all the following except: (Slide 5-6) a.
The company’s marketing objective b. The company’s production costs c. The market demand for the company’s production costs d. The organizational structure of the company e. All of the above are internal factors 6. The chart below shows an example of a demand curve. This also in a indication that: (Slide 18) a. The demand for the company’s product is elastic b. The demand for the company’s products is inelastic c. The company’s experience curve is steep d. The company’s products fall into the prestige goods category e. Economic conditions mean the company is selling less 7.
Value based pricing is where the price is set in relation to (slide 24-25) a. The company’s costs b. The company’s relationship with its suppliers c. The company needs to make a specific percentage return for its shareholder d. What the company’s competitors charge for their product e. What the company’s customers are prepared to pay 8. When Sony introduced the Palpitation it was priced at $900 but within a year other competitors for example Microsoft’s Oxbow had come onto the market and caused the price to drop to half the launch price Sonny’s initial strategy was an example of: a.
A price skimming strategy 9. A. A price penetration strategy An experience curve strategy A demand elasticity strategy A product-line pricing strategy A Reference price A temporary price put on clothing with reference to end of season sale b. A different price given to some customers with reference to their particular market segment c. A special price that relates to the volume of products bought d. A price that buyers carry in their minds and refer to when looking at a given product e. A price that says something about the quality of the product 10.
Strata airline were offering flights to Tokyo for $200 in May this is an example of Stupidity by Starter’s markets as the company can’t make any money by doing this price b. A promotion a price developed by Starter’s marketers to increase when setting their prices d. An end of season discount e. A price reward designed by Starter’s marketers to thank frequent fliers Lecture 10 If a marketer seeks to retain customers Eng-term preference and business through a win-win business style, the marketer is engaged in marketing a. Relationship marketing 2.
The set of actual and potential buyers off product comprise a(n)a. Market b. Transaction group Exchange 3. Auckland collectibles is a company that trades in old and new china, crystal and silver patterns. In a customer survey it asked if the product the customer received was satisfactory. This questions is: a. Invalid and unreliable because people define satisfaction in many different ways 4. A firm that cuts the price of its product, increases advertising expands striation and improves in store display is seeking to achieve deeper market penetration 5.
An overall cost leadership strategy involves a company concentrating on creating a high differentiated product line and marketing program 6. The electro corporation is experiencing marketing problem, but has no clear “feel” for the specific nature of these problems. Before taking any other action, the type of research the firm should conduct in order to better define the problem and suggest hypotheses would be: 7. Post-purchase satisfaction is a function of the consumer’s product expectations ND the products perceived performance 8.
The final step in the development of a positioning strategy is to a. Communicate the position effectively to consumers 9. Marketers should be cautious in using age as a segmentation variable because age is often a poor predictor of a person’s interest and needs 10. Tama decides to purchase a filing cabinet. He watches television and newspaper ads until he sees one at a low price. For Tama, the filing cabinet is a (n) products Shopping ***think about the involvement a. Occasion segmentation 12. The business market differs from the consumer market in that a.