QUESTION 1 List and briefly describe each of the seven steps of product development TTT Anal 3(12pt) TEE 5.025 Path:p Words: 0 QUESTION 2 Describe the difference between primary and secondary data. What are the main benefits and pitfalls of both? TTT Arial 3(12pt) TEE 5.025 Path:p Words: 0 QUESTION 3 Explain the application of market research, segmentation, pricing targeting, and positioning as they relate to a marketing plan. TTT Arial 3(12pt) T. . . 25 Path:p Words 0 QUESTION 4 _ is a psychological influence on consumer behavior that describes a person's consistent behavior or response to recurring situations. a Motivation b. Personality c. Perception d. Learning QUESTION 5 There are many different types of positioning strategies. The customers strategy positions products based upon the feelings that they will elicit from their Social Issue Emotional Corporate Image Specific Product Feature QUESTION 6 The larger the target market is the easier it will be for a marketer to ensure that profit is made True False QUESTION 7 Target markets are weighed on five different criteria do so kets are weighed on five diferent criteria_ describes how describes how hard it is going to be to reach the segment and how expensive it will be to Market Size Expected Growth Reach Cost Competitive Position QUESTION 15 Cognitive dissonance, also called Buyer's remorse, occurs when there is a state of uneasiness in the mind of a consumer after a purchase. Which of the following is not a reason why cognitive dissonance would occur? a. Too many attractive alternatives existed so psychological tension is created so that you may not have chosen the best option b. The price of the item was too high c. The price of the item was too low d. The feature promised did not deliver QUESTION 16 Market segmentation refers to the place a product occupies in a consumer's mind based upon important features and how the product stacks up against competitors True False QUESTION 17 Consumers always engage in every step of the consumer decision making process no matter what product they are purchasing True False QUESTION 21 When pharmaceutical companies disclose the side effects of a medication, they are upholding a consumer's a Right to safety b. Right to be informed c. Right to choose d. Right to be heard QUESTION 22 Johnson's sells a variety of different baby care products, including baby wash, moisturizer, shampoo, and lotion. At the grocery store, each of these items can be found in the same aisle but each has its own SKU and is a unique product. How would you classify each individual baby products? As a product item As a product line As a product mix As a product line extension QUESTION 23 products because they are purchased infrequently and are generally quite expensive Consumers have to put in extra effort when they shop for Convenience Shopping Specialty Unsought QUESTION 18 purchases are ones that are expensive, have serious personal consequences, or could impact one's social image. These purchases _ correlate with the consumer decision making process. a High-involvement, indirectly b. High-involvement, directly c. Low-involvement indirectly od Low-involvement, directly QUESTION 19 For B2C and B2B marketers, we segment our markets based on most of the same factors. Which of the following is a factor that we do not segment B2B markets on? Geographic Demographic Psychographic Behavioral QUESTION 20 research is conducted at the beginning of a market research project to further define potential growth opportunities and different courses of action Exploratory Descriptive Casual Secondary QUESTION 11 Beta testing is an effective method of product testing because it allows marketers to test a pre-finalized version of their product on their target audience. True False QUESTION 12 research is structured and quantitative and determines the degree to which a change in one factor will impact another factor Exploratory Descriptive Casual Secondary QUESTION 13 Maslow's Hierarchy of Needs said that all needs of a consumer must be met and the order of meeting these needs is not important as long as they are all addressed. True False QUESTION 14 Measures of success are developed at the beginning of a market research project and are criteria that will be used to evaluate proposed marketing solutions to a problem True False