Devry busn319 week 4 quiz (100% Solution) 2023 Business & Finance

2023 Question 1 1 TCO 1 The broad goal of is to identify and define both marketing problems and opportunities

Question 1.1.(TCO 1) The broad goal of _____ is to identify and define both marketing problems and opportunities and to generate and improve marketing actions. (Points : 3)

sales promotion

marketing research

tactical support

Question 2.2.(TCO 1) The act of consciously choosing from alternatives is called (Points : 3)

a dilemma

a quandary

decision making

a paradox

a predicament

Question 3.3.(TCO 1) During the marketing research process, _____ are the specific, measurable goals the decision maker seeks to achieve in conducting the marketing research.(Points : 3)

measures of success

research objectives

marketing research plans



Question 4.4.(TCO 1) A test market is an example of which type of marketing research? (Points : 3)






Question 5.5.(TCO 1) When Home Depot entered the Quebec market, 2% of the population was aware of the retail chain. To determine how effective its advertising was in the first 18 months of its presence in the Canadian province, it conducted awareness research for a second time. Prior to conducting the research, it was decided that if at least 50% of the population was aware of the Home Depot brand, it would continue its present advertising program. This is an example of a(n) (Points : 3)




measure of success.

barrier to entry.

Question 6.6.(TCO 3) A picture or verbal description of a product or service a firm might offer for sale is known as a(n) (Points : 3)



new-product concept.



Question 7.7.(TCO 1) Facts and figures that are newly collected for a project at hand are called (Points : 3)

internal secondary data

external secondary data

primary data

observational data

tertiary data

Question 8.8.(TCO 3) Market segmentation stresses _____ and relating needs and benefits to specific marketing actions. (Points : 3)

grouping people randomly in a market

market sectioning

grouping people according to similar needs

splitting people randomly between markets

product-based market development

Question 9.9.(TCO 3) To create a _____ strategy, allows customers to visit its website and design a sneaker to their personal specifications. (Points : 3)

product sampling

product extrapolation

mass customization

usage segmentation

psychographic segmentation

Question 10.10.(TCO 6) The first step in segmenting and targeting markets is to (Points : 3)

recognize a need.

group potential buyers into segments.

create product groupings.

estimate size of the overall market.

develop a market-product grid.

Question 11.11.(TCO 6) Which of the following is not a criterion used in forming segments? (Points : 3)

Potential for increased profit

Similarity of needs of potential buyers within a segment

Competitive position

Potential of marketing action to reach a segment

Simplicity and cost of assigning potential buyers to segments

Question 12.12.(TCOs 3, 5, and 6) A market-product grid is a framework to relate (Points : 3)

estimated expenses for products sold to various market segments

total anticipated revenue for each product to market segments

total anticipated profit for each product to segments

the market segments of potential buyers to products offered or potential marketing actions by an organization

market segments of potential buyers to relative market share compared to the closest competitor

Question 13.13.(TCO 6) Which of the following is a criterion used for selecting a target segment? (Points 🙂

Potential for increased profit

Similarity of needs of potential buyers within a segment

Difference of needs of buyers among segments

Potential of a marketing action to reach a segment

Competitive position

Question 14.14.(TCOs 3, 5, and 6) Changing the place an offering occupies in consumers’ minds relative to competitive products is called (Points : 3)

perceptual mapping.

product positioning.

product differentiation.



Question 15.15.(TCOs 3, 5, and 6) Which of the following data are collected from consumers to develop a perceptual map for a particular product? (Points : 3)

A listing of all prospective brands and products

Managerial judgments about how consumers perceive products

Identification of the important attributes for a product class

Rank order of the ratings of an existing brand’s preference relative to its competitors

All of the above

Question 16.16.(TCOs 1, 3, 5, and 6) A _____ is the marketing term for a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value. (Points : 3)


market decision.

market factor

utility bundle


Question 17.17.(TCOs 1, 3, 5, and 6) The Federal Trade Commission considers a product new only (Points: 3)

for a period of 6 months after it enters regular distribution

for a period of 1 year after it enters regular distribution

until a similar product is introduced by a competitor

until a newer version of the same product is produced

for a period of 17 years, at which time patent rights are returned to the public domain

Question 18.18.(TCOs 1, 3, 5, and 6) When General Foods introduced Post Cereals with freeze-dried fruits, people found that by the time the fruit had absorbed enough milk, the flakes were soggy. Why did this product fail? (Points : 3)

Poor product quality

Insignificant point of difference compared to competitive offerings

Too little market attractiveness

Poor execution of the marketing mix

No economical access to buyers

Question 19.19.(TCOs 1, 3, 5, and 6) A company defines the role for new products in terms of the firm’s overall corporate objectives in the _____ stage of the new-product process.(Points : 3)

idea generation

distinctive competency

new-product strategy development

business mission

strategic management process

Question 20.20.(TCOs 3 and 6) Breyers 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. Breyers new product was in the _____ stage of the new-product process. (Points : 3)


screening and evaluation

business analysis


market testing

Question 21.21.(TCOs 1, 3, 5, and 6) A product in the introduction stage of the product life cycle should have which of the following marketing objectives? (Points : 3)

Gain awareness and stimulate trial.

Stress differentiation.

Maintain brand loyalty.

Gain as much distribution as possible.

Reveal a marketing niche

Question 22.22.(TCOs 1, 3, 5, and 6) When the National Cattlemen’s Beef Association advertises “Beef, It’s What’s for Dinner,” it is trying to stimulate _____ demand. (Points : 3)






Question 23.23.(TCOs 1, 3, 5, and 6) The stage in the product life cycle labeled C in the below figure is called
(Points : 3)







Question 24.24.(TCOs 1, 3, 5, and 6) At which stage in the product life cycle do industry profits usually peak? (Points : 3)






Question 25.25.(TCOs 1, 3, 5, and 6) The swoosh that appears on every Nike product is an example of a (Points : 3)


trade name.

service mark.

brand name.

generic brand.




























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