MKT 571 Quizzes week 1 6 Essay

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Quiz Week 1 1 One of the most critical steps in the defining process of market research is defining the problem, the decision alternatives, and research objectives 2 Wabash Bank would like to understand if there is a relationship between the advertising or promotion it does and the number of new customers the bank gets each quarter. What type of research is this an example of? Casual 3 How does the market demand curve change (as a function of marketing expenditure) during recession? Shifts downward 4 What data analysis type is being used here? When Sam thought about opening a foreign car repair shop in Phoenix, he researched all of the firms in the area before deciding on a location. He also analyzed their capabilities and…show more content…
Segment acid test 7 Which of the following is known in marketing as attributes of a product or service that may not be unique to the product or service? Points­of­parity 8 What is the second stage of the consumer buying process? Information search 9 Which other criteria helps make up the three criteria for a successful brand mantra: inspire, simplify, and communicate 10 Which term describes the diverse needs of many ethnic market segments? Multicultural marketing 11 Which of the following marketing strategies does not concentrate on recognizing differences in customers’ needs in the organization? Undifferentiated 12 Which of the following do brand mantras attempt to define? Points of difference to other brands 13 Which of the following is a tool a company uses to position its brands attributes in the minds of those in the organization? Brand positioning bull’s eye 14 Which of the following tools do marketers use to visually illustrate how consumers view products or services on multivariables? Perceptual mapping 15 Which other dimension is the VALS classification system based on besides consumer motivation? Consumer resources 16 What other dimension helps market segments be measurable, substantial, accessible, and differentiable? Actionable 17 Which other factor does an organization’s marketing strategy focus on: segmentation, targeting, and positioning 18
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