MKC1 study guide

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1. How does cultural diversity affect marketing? By creating a need for new marketing technologies By requiring tailored marketing strategies By creating a need for changes in the legal environment of marketing By defining ethical issues in marketing 2. What element should marketing managers consider when scanning the competitive environment? Transfer price Supply chain management Reciprocity Substitute products 3. A group of producers of a particular product decided to all raise prices together and they were accused of overcharging consumers. Which federal law would have allowed the United States government to investigate this unfair method of competition? Sherman Antitrust Act Consumer Product Safety Act Robinson-Patman Act…show more content…
A firm wants to expand its marketing efforts. Which market segmentation criteria should be considered? Measurable purchasing power and size of the segment Diversity of various ethnic groups within the segment Growth of sponsorships within the segment Alternative production strategies within the segment 15. Which types of marketing are common positioning strategies? Transaction based and customer based marketing Competitor based and application based marketing Supply chain and channel marketing Consumer behavior research and business-to-business marketing 16. Which research methods are used by marketing researchers to collect primary data? Observation, surveys, and controlled experiments Population, physiological sampling, psychographic sampling Quality revisions, visualizations and demographic studies Library research, data polling, and queuing experiments 17. A food company plans to cut back on advertising fatty and sugary foods to children and to add new logos to its foods and drinks that highlight more nutritional offerings. Which type of ethical issue is this company considering? Place Ethics Product Ethics Price Ethics Promotional Ethics 18. A firm conducts market research to analyze consumers' perceptions of a product relative to other brands. Which type of strategy is this? Market development strategy Product positioning strategy Product diversification strategy Market penetration

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