Question $1(1\mathrm{.}5$ points$)$

A company's market share measures

Question $1$ options:

how profitable the company is

how compatible a company's product is with it's competitors

the percentage of sales the company controls in a market during a given fiscal period

the percentage of sales that can cover the company's operating expenses

Question $2(1\mathrm{.}5$ points$)$

Which two groups do the majority of consumers fall into with respect to new product adoption?

Question $2$ options:

late mainstream and lagging

innovator and early adopter

early mainstream and late mainstream

early adopter and early mainstream

Question $3(1\mathrm{.}5$ points$)$

In a SWOT analysis, $\_\_\_\_\_\_\_\_$ include favorable trends in the external environment.

Question $3$ options:

weaknesses

opportunities

strengths

challenges

Question $4(1\mathrm{.}5$ points$)$

Purchasing shampoo is a low$-$involvement decision; yet consumers perceive significant differences between brands. Buying shampoo would involve which type of consumer behavior?

Question $4$ options:

variety$-$seeking

habitual

cognitive dissonance

complex

Question $5(1\mathrm{.}5$ points$)$

Marketing is defined as the process by which individuals and organizations obtain what they need and want through $\_\_\_\_\_\_\_\_.$

Question $5$ options:

research and development

innovation and creativity

value creation and exchange

manufacturing efficiencies

Question $6(1\mathrm{.}5$ points$)$

Cameron loves to own and be up$-$to$-$date on the latest technological gadgets available in the market. Among his friends, he is always the first to own the latest electronic gadgets. He loves trying out new products before others. Cameron most likely belongs to the $\_\_\_\_\_\_\_\_$ adopter group.

Question $6$ options:

innovator

early mainstream

late mainstream

surrogate consumer

Question $7(1\mathrm{.}5$ points$)$

In considering product characteristics that influence the rate of new product adoption, $\_\_\_\_\_\_\_\_$ refers to how well a new product does its job compared to available alternatives.

Question $7$ options:

divisibility

compatibility

relative advantage

complexity

Question $8(1\mathrm{.}5$ points$)$

In the marketing mix, design, packaging, services, and variety can be categorized under $\_\_\_\_\_\_\_\_.$

Question $8$ options:

Product

Promotion

Place

Positioning

Question $9(1\mathrm{.}5$ points$)$

The relationship between the consumer's expectations and $\_\_\_\_\_\_\_$ determines whether the buyer is satisfied or dissatisfied with a purchase.

Question $9$ options:

perceived performance

brand personality

market reach

market share

Question $10(1\mathrm{.}5$ points$)$

In a SWOT analysis, which of the following would be considered a strength?

Question $10$ options:

industry trends

technological shifts

low employee turnover

increased consumer spending

Question $11(1\mathrm{.}5$ points$)$

Consumer purchases are influenced strongly by characteristics that marketers cannot control but must take into account, including cultural, social, psychological, and $\_\_\_\_\_\_\_\_$ characteristics.

Question $11$ options:

genetic

professional

personal

economic

Question $12(1\mathrm{.}5$ points$)$

Donna wants to buy a new coat. During the $\_\_\_\_\_\_\_\_$ stage of the buyer decision process she will ask her friends to recommend stores that sell good quality winterwear clothing. She will also go through newspapers and magazines to look out for offers and sales on coats.

Question $12$ options:

need recognition

alternative evaluation

information gathering

buyer's remorse

Question $13(1\mathrm{.}5$ points$)$

Which of the following characteristics describes business$-$to$-$business purchase behavior?

Question $13$ options:

Purchases are made on impulse.

Usually only one decision maker is involved.

Suppliers focus on developing partnerships or long$-$term relationships with their customers.

Rebuys are made without evaluating previous purchases.

Question $14(1\mathrm{.}5$ points$)$

$\_\_\_\_\_\_\_\_\_\_$ is a person's pattern of living that includes the individual's activities, interests, and opinions.

Question $14$ options:

lifestyle

personality

social class

motive

Question $15(1\mathrm{.}5$ points$)$

Which of the following is a market$-$oriented mission statement?

Question $15$ options:

$"$We empower customers to achieve their dreams."

$"$We are an online library."

$"$We sell jumbo burgers."

$"$We make porcelain figurines."

Question $16(1\mathrm{.}5$ points$)$

Which of the following is NOT part of a company's decision about which customers it will serve and how?

Question $16$ options:

targeting

budgeting

segmentation

positioning

Question $17(1\mathrm{.}5$ points$)$

Lumify, a start$-$up company that makes high$-$end sunglasses evaluates various market segments' attractiveness and then chooses one or more segments to enter. Lumify is engaging in $\_\_\_\_\_\_\_\_.$

Question $17$ options:

market segmentation

market targeting

diversifi