Quiz
Market Analysis
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Questions in this quiz (55)
1A service is intangible and a relatively easily accessed activity whereby during the interactive consumption, the focus is on the immediate or later satisfaction of needs and no material ownership plays a role.
- ATrue
- BFalse
2What type of product or service is dinner in a restaurant?
- A100% product
- B100% service
- C50% service, 50% product
3What are the characteristics of services?
- AIntangible
- BTangible
- CInseperability
- DSeparability
- EVariability
- FSimilarity
- GPerishability
- HDurability
- IOwnership
- JLack of ownership
4Adding service to a product adds value to the profit chain, which of these is one of the beneficial factor of a service?
- AExternal quality of providing services
- BHappy and productive service provider consumers.
- CGreater service benefits.
- DSatisfied and loyal customers.
- EHealthy cost and savings.
5Regarding to service, the distinction of the competition through differentiation differs in?
1. [blank_start]offer[blank_end]
2. [blank_start]delivery[blank_end]
3. [blank_start]image[blank_end]- Aoffer
- Bdelivery
- Cimage
6How do you measure the quality of your services?
- ABy the feedbacks/reviews the company gets.
- BBy the turnover you make per product/service.
- CBy comparing expectations with the experience.
7How can service firms improve their marketing strategies?
- ABy training staff better.
- BBy standardisation.
- CMore effective and efficient services.
- DTo stimulate customers to relax and take it slow.
- EProvide better type of technology
- FLower the prices.
8Developing new product/service requires innovation themes. This themes are:
1. [blank_start]Risk[blank_end] and return
2. [blank_start]Failure[blank_end] (failing factors)
3. [blank_start]Success[blank_end] (success factors)- ARisk
- BFailure
- CSuccess
9The steps to develop new products consist of 8 steps, namely:
1. [blank_start]Generate ideas[blank_end]
2. Screen ideas
3. [blank_start]Concept[blank_end] development/ testing
4. [blank_start]Marketing strategy development[blank_end]
5. Business analysis
6. [blank_start]Product development[blank_end]
7. Test marketing
8. [blank_start]Commercialization[blank_end]- AGenerate ideas
- BConcept
- CMarketing strategy development
- DProduct development
- ECommercialization
10The right steps in developing new products are:
1. [blank_start]Generate ideas[blank_end]
2. [blank_start]Screen ideas[blank_end]
3. [blank_start]Concept development/ testing[blank_end]
4. [blank_start]Marketing strategy development[blank_end]
5. [blank_start]Business analysis[blank_end]
6. [blank_start]Product development[blank_end]
7. [blank_start]Test marketing[blank_end]
8. [blank_start]Commercialization[blank_end]- AGenerate ideas
- BScreen ideas
- CConcept development/ testing
- DMarketing strategy development
- EBusiness analysis
- FProduct development
- GTest marketing
- HCommercialization
11The right product life-cycle's process goes as: Product development stage - Introduction phase - mature phase - growth phase - final phase.
- ATrue
- BFalse
12The 3 types of price settings are
1. [blank_start]Customer value-based pricing[blank_end]
2. [blank_start]Cost-based pricing[blank_end]
3. [blank_start]Competition based pricing[blank_end]- ACustomer value-based pricing
- BCost-based pricing
- CCompetition based pricing
13Which characteristics are important to set a customer value-based pricing?
- Aprice perception
- Bfinancial position
- Ctheir knowledge about the prices on the market
- Dbrand loyalty
- Efixed cost
- Fcompetition
14In order to understand the cost structure, the cost are divided in fixed cost and indirect cost.
- ATrue
- BFalse
15Direct cost are difficult to determine for example fixed costs while indirect cost are determined easily like variable cost.
- ATrue
- BFalse
16External factors
Pricing in different type of markets
Pure competition
[blank_start]Monopolistic[blank_end] competition
[blank_start]Homogeneous[blank_end] oligopoly (uniform)
[blank_start]Heterogeneous[blank_end] oligopoly (non-uniform)
(pure) monopoly- AMonopolistic
- BHomogeneous
- CHeterogeneous
17Price elasticity is the degree in which the demand responds to the changing price.
- ATrue
- BFalse
18Which complements the pricing method "Price-setting product packages (bundling)"the most?
- ATrip with 10 person
- BA table salt
- CA connected flight to U.S
- DThe vat on your drink
19There are several ways a price could be adjusted, namely:
1. [blank_start]Discounts[blank_end]
2. Segmented Pricing
3. Psychological pricing
4. Promotion pricing
5. Geographical pricing
6. Dynamic pricing
7. [blank_start]International[blank_end] pricing- ADiscounts
- BInternational
20The net sales prices is the actual return the provider gets, it is ______ tax.
- Ainclusive
- Bexclusive
21How do channel members add value?
- AHelping to save transactions:
- BFulfil the completed transactions:
22With regard to design channels the following points must be discussed:
1. Analysing [blank_start]needs[blank_end] of client
2. Setting channel [blank_start]objectives[blank_end]
3. Identifying most important [blank_start]alternatives[blank_end]
4. [blank_start]Evaluating[blank_end] major alternatives- Aneeds
- Bobjectives
- Calternatives
- DEvaluating
23The chosen number of your distribution intermediaries defines the distribution intensity.It could be:
1. [blank_start]Intensive[blank_end] distribution
2. [blank_start]Exclusive[blank_end] distribution
3. [blank_start]Selective[blank_end] distribution- AIntensive
- BExclusive
- CSelective
24The important channel management decisions are:
- AMarket spread
- BMarket reach
- CMarket share
- DMarket exclusivity
- EMarket selection
25Market spread indicates the turnover amount of the sales outlets.
- ATrue
- BFalse
26Market reach indicates the total number of sales outlets.
- ATrue
- BFalse
27This index number indicates the size of the sales outlets. In other words: is the market reach larger than the market spread, then the manufacturers have selected larger sales outlets.
- Amarket spread
- Bmarket reach
- Cselection indicator
- Dturnover share
28Promotional mix consists of (also called marketing communications mix):
1. [blank_start]Advertising[blank_end]
2. [blank_start]Sales promotion[blank_end]
3.[blank_start]Public relations[blank_end]
4.[blank_start]Personal sale[blank_end]
5. [blank_start]Direct marketing[blank_end]- AAdvertising
- BSales promotion
- CPublic relations
- DPersonal sale
- EDirect marketing
29Why does mass marketing rarely occurs nowadays?
- ADue to technology developments
- BDue to more direct marketing
- CDue to the competition that companies comes up with unique strategies
30Integrated marketing communications requires an overview of all the contact points where the customer meets the business, production and service. Each brand contact carries a message.
- ATrue
- BFalse
31The process consists of nine elements:
[blank_start]Sender[blank_end]
[blank_start]Receiver[blank_end]
[blank_start]Message[blank_end]
[blank_start]Medium[blank_end]
[blank_start]Codes[blank_end]
[blank_start]Decoding[blank_end]
[blank_start]Response[blank_end]
[blank_start]Feedback[blank_end]- ASender
- BReceiver
- CMessage
- DMedium
- ECodes
- FDecoding
- GResponse
- HFeedback
32Effective communication consist of 6 steps:
[blank_start]Identifying target audience[blank_end]
[blank_start]Determining communication objectives[blank_end]
[blank_start]Design the message[blank_end]
[blank_start]Choosing media[blank_end]
[blank_start]Select message source[blank_end]
[blank_start]Collect feedback[blank_end]- AIdentifying target audience
- BDetermining communication objectives
- CDesign the message
- DChoosing media
- ESelect message source
- FCollect feedback
33What type of promotion mix strategy is advertising?
- APush
- BPull
34What type of promotion mix strategy is Direct selling via showroom, negotiating and trade show?
- APush
- BPull
35Most important decisions when setting up an advertising campaign (fig. 15.1)
1. Formulating advertising [blank_start]objectives[blank_end]
2. Setting the [blank_start]budget[blank_end]
3. Establishing the advertising [blank_start]strategy[blank_end]
4. Selecting the advertising message and medium
Evaluating the advertising [blank_start]campaign[blank_end]- Aobjectives
- Bbudget
- Cstrategy
- Dcampaign
36A typical process or personal sales goes as:
1. [blank_start]Prospecting and classifying[blank_end]
2. [blank_start]Pre-approaching[blank_end]
3. [blank_start]Approach[blank_end]
4. [blank_start]Presentation and demonstration[blank_end]
5. [blank_start]Handling complaints[blank_end]
6. [blank_start]Actual sale (closing)[blank_end]
7. [blank_start]Follow up[blank_end]- AProspecting and classifying
- BPre-approaching
- CApproach
- DPresentation and demonstration
- EHandling complaints
- FActual sale (closing)
- GFollow up
37Sales promotion is divided into 2 types
1. [blank_start]Consumer[blank_end] promotions
2. [blank_start]Trade[blank_end] promotions
3. [blank_start]Business[blank_end] promotions- AConsumer
- BTrade
- CBusiness
38Which ar ein form of direct marketing?
- ADirect mail
- BCatalogue
- CSamples
- DTv marketing
- EVouchers
39There are 3 strategies of entering international markets:
1. [blank_start]Export[blank_end]
2. [blank_start]Joint venture[blank_end]
3. [blank_start]Direct investment[blank_end]- AExport
- BJoint venture
- CDirect investment
40Marketing has 3 disadvantages regarding to society impact in general. Namely:
1. [blank_start]Materialism[blank_end]
2. [blank_start]Few social goods[blank_end]
3. [blank_start]Cultural pollution[blank_end]- AMaterialism
- BFew social goods
- CCultural pollution
41The actions towards sustainable marketing by citizens are
- AConsumerism
- BEnvironmentaism
- CUnforeseen consequences
- DEu regulations
- ENational regulations
- FConsumer guidelines
42Confrontation matrix strategies, strenght plus threat is a what?
- AOffensive
- BAdjust
- CReactive
- DDefensive
43Marketing Aims
There are several types of marketing aims:
1. [blank_start]Organisational aims[blank_end]
2. [blank_start]SBU[blank_end]- aims
3. [blank_start]Marketing aims[blank_end]: market share, turnover, profit)
4. [blank_start]Insturment aims[blank_end] (marketing mix. P’s)- AOrganisational aims
- BSBU
- CMarketing aims
- DInsturment aims
44Segmentation is dividing up a market into smaller segments with distinct needs, characteristics or behavior.
- ATrue
- BFalse
45Check correct answer that refers to segmentation
- ATo know which target you want to serve.
- BTo know the needs of the employees.
- CTo know how to approach the target group.
- DTo know what the product for the group.
46The 3 phases of segmentation:
1. [blank_start]Segmentation[blank_end] (dividing into smaller segments) (Geo, Demo, Psycho, Behave)
2. [blank_start]Defining target group[blank_end]
3. [blank_start]Positioning[blank_end]- ASegmentation
- BDefining target group
- CPositioning
47Segmentation Strategies
• [blank_start]Undifferentiated[blank_end]: whole market is target group
Risk: consumers do not recognize themselves advantage: low cost operation
• [blank_start]Differentiated[blank_end]: : large part of market
Risk: higher communication cost Advantage: provide better sales results
• [blank_start]Concentrated[blank_end]: aiming at few market segments (niche marketing)- AUndifferentiated
- BDifferentiated
- CConcentrated
48Segmentation is the place, products/brand occupies in consumer’s minds relative to competing products.
- ATrue
- BFalse
49Finally you have to develop a positioning [blank_start]statement[blank_end] that consist of
“To (target segment and need) our (brand) is (concept) that (point of difference)."- Astatement
50A product is tangible.
- ATrue
- BFalse
51Problem solving and core benefits of a product like material, weight, taste.. are called
- ACore product
- BActual product
- CAugmented product
52Brand, packaging, functions, quality, style are example of
- ACore product
- BActual product
- CAugmented product
53Extra supporting services & benefits like maintenance are called Actual product.
- ATrue
- BFalse
54A product (tangible) could be classified through.
- ADuration
- BPerishability
- CConsumer or industrial
- DInseperability
55For product mix: Set of all products offered within organization
• [blank_start]Width[blank_end] – number of different product groups
• [blank_start]Length[blank_end] – total number of articles within group
• [blank_start]Depth[blank_end] – number of versions of each product
• [blank_start]Consistency[blank_end] – measure of the relationship between the products dealt with
• [blank_start]Conditions[blank_end] – Unconditionally, Ease of understanding/communicating, Significance, Easily approachable and available- AWidth
- BLength
- CDepth
- DConsistency
- EConditions
Information
- Description
- Quiz on Market Analysis, created by C Garrucha on 13/12/2015.
- Author
- C Garrucha
- Language
- English
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