QUESTION 1

About 70% of Coca Cola revenues and profits come from sales outside the US.Thereforeas the US currency loses value relative to the other main international currencies like the Japanese yen, euro, British pound, Korean won and as Coca Cola sales revenues and profits increase overseas then most likely

a., Coca Cola profit denominated in American dollars decreases

b., Coca Cola profit denominated in American dollars increases

c., Coca Cola profit denominated in foreign currencies decreases

d., None of the above

QUESTION 2

Using secondary data for marketing research implies that secondary data would

a., require you to do personal interviews of people not directly related to the project

b., need to be entered into a database and sorted to become usable

c., have been previously compiled and published by someone

d., all of the above

QUESTION 3

The U.S. market for ice cream has annual sales $5 billion and out of that Haagen Dazs sells $1 billion annually.ThereforeHaagen Dazs's market share is

a., 10%

b., 20%

c., 50%

d., 75%

QUESTION 4

The basic characteristic of a simple random sample of BMCC students is

a., every student in the relevant BMCC population has equal probability of being selected

b., all possible students of the BMCC population have provided information

c., 100 percent of all BMCC subgroups have been specifically selected

d., none of the above

QUESTION 5

Arbitrarily selecting a sample by using a fixed quota of 3 users of Internet Explorer, 3 users of Safari and 3 users of Firefox is an example of

a., media sampling

b., cluster sampling

c.,non probabilitysample

d., all of the above

QUESTION 6

The survey method for data collection for marketing research may include

a., personal observation of the subjects as they shop

b., personal interviews of members of a sample

c., analysis of historical census data

d., acquisition from government databases

QUESTION 7

In the lifecycle of a product, the growth stage of sales is characterized by

a., very big percentage of buyers buy the product for the first time

b., all buyers buy the product for replacement of their existing product

c., sales revenue is declining

d., recording license plates in shopping malls

QUESTION 8

Test marketing is a method for doing marketing research

a., done on the telephone like a very large survey design

b., based on numerous personal interviews of likely buyers of the product being tested

c., by introducing a new product in a specific area and then observe its degree of success so to decide on future steps

d., none of the above

QUESTION 9

The process of searching through customer files to detect patterns is called

a., data reclamation

b., data warehouse

c., data restoration

d., data mining

QUESTION 10

Estimating the firm's revenue for a specified future time period is called

a., marketing audit

b., cost structure

c., sales forecast

d., all of the above

QUESTION 11

Quantitative sales forecasting techniques include

a., surveys of buyer intentions

b., the Delphi technique

c., trend analysis

d., sales force composites

QUESTION 12

Which of the following is a qualitative sales forecasting technique?

a., The Delphi technique

b., Exponential smoothing

c., Trend analysis

d., Market testing

QUESTION 13

Marketing segmentation is

a., an attempt to reach all consumers with a single marketing mix

b., a simple marketing mix target strategy

c., the process of bringing small and unreachable segments into one segment

d., dividing the overall market in smaller and more homogenous customer segments

QUESTION 14

One of the important criteria for effective market segmentation is

a., The market segments must have measurable purchasing power and size

b., The market segments must be shrinking in size overtime

c., The market segments must be defined on the basis of cost generation

d., The market segments must be at least five

QUESTION 15

The fact that one in six Americans moves to a different city every year, has a significant implication for

a., Market-based concentration

b.,Phychographicmarket segmentation

c., Demographic segmentation

d., Geographic segmentation

QUESTION 16

A Mexican tacos corner stand sell 1500 tacos per month for $2 each and 1000 coffees for $1 each. The variable cost for each taco is $1 and for each coffee $.20 and they also have monthly fixed costs $200 in permits and licenses and additionally gasoline and cleaning expenses of $200 monthly.Thereforethe monthly profit for the stand is

a., $1200

b., $1500

c., $1900

d., $2300

QUESTION 17

For a firm, the more generic/commodity like is its product,

a., The greater will be their profits

b., The lower will be their profits

c., The higher will be their costs

d., We cannot tell

QUESTION 18

If the interest rate for borrowing money is low then consumers tend to

a., spend more on goods and services

b., spend less on goods and services

c., do not spend money on buying cars

d., none of the above

QUESTION 19

The type of segmentation that divides a population into groups that have similar psychological characteristics, values and lifestyles is

a., demographic

b.,metapositive

c., polymorphic

d., psychographic

QUESTION 20

Engel's Laws state that

a., as family income increases, the percent spent on recreation and education increases

b., as family income increases, the percent spent on clothing and household operation decreases

c., as family income decreases, the dollar amount spent on food items increases by 50%

d., none of the above

QUESTION 21

The 80/20 principle postulates that

a., roughly 80% of a firm's sales come from 20% of its customers

b., 80% of segmentation strategies are employed by 20% of the corporations

c., 80% of the market can be segmented while 20% cannot be segmented

d., 80% of customer base is loyal whereas 20% of customers are not loyal

QUESTION 22

An important form of the product-related segmentation of consumers according to the attachment to their preferred products is according to

a., Income levels

b., Location

c., Education

d., Brand loyalty

QUESTION 23

A company needs to decide about which market segments of a target market to enter so to increase profits.Thereforethe company needsisto perform for each market segment, a(n)

a., Taxation analysis

b., Intellectual rights research

c., Cost versus Benefit analysis

d., None of the above

QUESTION 24

The process of market segmentation includes

a., Developing the profile of a representative customer for each market segment

b., Forecasting the market potential of each market segment

c., Forecasting the market share for each market segment

d., All of the above

QUESTION 25

A patent for the technology of a product

a., Lasts for ever

b., Lasts for limited time period

c., Is associated with low revenues

d., All of the above

QUESTION 26

With respect to consumer behavior, one's culture, friends, and relatives are

a., Impersonal influences

b., Interpersonal influences

c., Personal influences

d., Institutional influences

QUESTION 27

Brand equity for a product in the market place refers to

a., Extra cost for building a brand in the marketplace

b., Post-purchase actions of consumers and professional buyers

c., Extra value the brand brings for that product in the marketplace

d., The consumer decision-making process

QUESTION 28

For marketing purposes, an example of a reference group influencing consumer behavior is

a., students

b., single males

c., gothic people

d., none of the above

QUESTION 29

The personal determinants of consumer behavior include the

a., culture in which a person is raised

b., individual's needs and motives

c., family to which one belongs

d., society from which one comes

QUESTION 30

As the value of the American dollar increases relative to the Japanese yen, we expect that

a., Demand for Japanese products may increase by American consumers

b., Demand for American products may increase by Japanese consumers

c., There may be no effect in demand for American orjapaneseproducts

d., None of the above

QUESTION 31

As consumer goods, milk, bread, and soft drinks are all generally classified as

a., convenience products

b., specialty products

c., shopping products

d., luxury products

QUESTION 32

Consumer shopping products typically include such items as

a., candy and newspapers

b., clothing, furniture, and appliances

c., bread and milk

d., All of the above

QUESTION 33

The criterion a company utilizes for deciding about the elimination of a product from the marketplace is

a., cost versus benefit analysis

b., income taxes level

c., speculation

d., sales taxes level

QUESTION 34

Marketing mix elements include

a., Price

b., Distribution

c., Promotion

d., All of the above

QUESTION 35

The recovery stage of the business cycle is important for marketers since

a., Business spending is decreasing

b., Consumer spending is decreasing

c., Consumer spending is rising

d., Government spending is flat

QUESTION 36

Marketing research is beneficial for

a., guiding future business actions and plans

b., defining a business problem

c., finding the optimal solution to a business problem

d., all of the above

QUESTION 37

Each company promotes product differentiation through its marketing efforts since

a., It reduces advertising costs

b., Makes the company look good

c., It minimizes government regulation

d., It raises company profitability

QUESTION 38

The assortment of product lines and individual offerings available from a business is called its

a., product assortment

b., product mix

c., product ingredients

d., product strategy

QUESTION 39

An example of a Low-Involvement purchase decision is

a., buying a house

b., buying a new sports car

c., deciding what to study and which college to attend

d., buying a pizza slice