social class

Which statement is true regarding social class in the United States?

Question 13 options:

1) Social class is determined primarily by income level

2) Lines between social classes in the United States are fixed and rigid

3) Social classes show distinct product preferences in clothing and automobiles

4) Wealth is more critical than education level in measuring social class

5) People are relegated to a permanent class layer in the United States

Question 14 (2 points)

Marketers must be careful to guard against stereotypes when using age and life-cycle segmentation.

Question 14 options:

1) True

2) False

Question 15 (2 points)

Which of the following is an example of horizontal conflict in the distribution channel?

Question 15 options:

1) a Nike shoe dealer complaining that the shoes provided to the dealer are defective

2) a Ford car dealer complaining that another Ford dealer is overpricing customers for the same car model

3) a FedEx agent complaining that a DHL agent is cutting off its business

4) a Walmart executive complaining to a Pepsi executive for not replenishing stocks

5) a Gucci executive complaining to Gucci’s suppliers of delay in shipping consignments

Question 16 (2 points)

Which of the following exemplifies vertical conflicts that occur in a distribution channel?

Question 16 options:

1) conflicts that occur between same levels in the same channel

2) conflicts that occur between different levels of the same channel

3) conflicts that occur between same levels of different channels

4) conflicts that occur between a supplier and a producer

5) conflicts that occur between two suppliers over meeting the demands of a producer

Question 17 (2 points)

La Viva, a chain of clubs and resorts, is known to be one of most preferred options for consumers seeking hospitality of a good standard. La Viva follows a mission which stresses long-term relationship building. It does not offer customers frequent price discounts which do increase footfalls, but fail to add value to the company. Which of the following statements, if true, strengthens the argument that La Viva uses the relationship-building approach over the transaction-oriented approach?

Question 17 options:

1) The sales force at La Viva is trained rigorously in the selling process that begins with the step of prospecting and terminates with the step of follow-through

2) The consumer promotion activities at La Viva are centered around providing customers with a free package during the off-season

3) The largest proportion of customers coming to La Viva are holders of a “Lifetime with La Viva” card or have been referred by satisfied customers

4) The facilities for recreation at La Viva are not significantly greater than its key competitor, Aurora clubs and resorts

5) The managers at La Viva are suffering from a situation that reflects promotion clutter

Question 18 (2 points)

________ is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.

Question 18 options:

1) Differentiation

2) Mass marketing

3) Market targeting

4) Market segmentation

5) Positioning

Question 19 (2 points)

Wants are the form human needs take as they are shaped by culture and individual personality.

Question 19 options:

1) True

2) False

Question 20 (2 points)

Penny Bank, a discount retail chain, is highly competitive. When entering a new market, Penny Bank often cuts prices so deeply that it sells below costs, effectively pushing smaller retail stores with less purchasing power out of the market. Penny Bank is at risk of being accused of ________.

Question 20 options:

1) market skimming

2) price-fixing

3) predatory pricing

4) deceptive pricing

5) resale price maintenance

Question 21 (2 points)

Erica Jenson has a limited budget for the market research she needs to conduct; however, the sample size for her research is quite large. Which of the following methods of contact would provide Erica with the most cost-effective way to reach a large sample of potential customers?

Question 21 options:

1) telephone surveys

2) personal interviews

3) Internet surveys

4) mail surveys

5) focus group interviews

Question 22 (2 points)

Jeff Barkins is a conscientious marketing manager. Sometimes, Jeff and his staff are unclear what decisions to make when faced with moral dilemmas. Jeff and other managers could create broad guidelines that everyone in the organization must follow in the form of a ________.

Question 22 options:

1) company value statement

2) company mission statement

3) company vision statement

4) corporate marketing ethics policy

5) financial statement

Question 23 (2 points)

When ProFem Inc. caters to clothing, cosmetics, and toiletries markets for women, it is most likely using which type of segmentation?

Question 23 options:

1) age and life-cycle

2) gender

3) behavior

4) psychographic

5) geographic

Question 24 (2 points)

Selecting particular segments of a population of customers to serve is called ________.

Question 24 options:

1) value reengineering

2) brand synchronizing

3) mass customizing

4) target marketing

5) selective administering