QUESTION 9

From the team case Suzlon Energy we learn that:

a. At the time of this case Suzlon Energy, based in India, is the fifth-largest manufacturer globally of wind turbines.

b. To help better identify global market growth opportunities and to build competitive advantage, Suzlon applies the GE-McKinsey Matrix to its challenges.

c. The GE-McKinsey Matrix plots evidence of operational strengths against research of customer-centric strengths to plot and evaluate its competitive position.

d. a, and b are correct

e. a, b, and c are correct

10 points

QUESTION 10

Scenario planning and analysis

a. is used to evaluate the strategic position of a product or service relative to competitors.

b. can be used to imagine best case, worst case and most likely future outcomes of a current strategic question.

c. has been used to successfully predict specific events, like the smartphones introduction, the COVID-19 pandemic, and the breakup of the Soviet Union.

d. value depends exclusively on user data and opinions collected from past experiences and current customers.

e. a, b and c are correct.

10 points

QUESTION 11

Early adapters in the Technology Adoption Life Cycle model

a. are respected as visionaries in the marketplace and can help growth of innovations.

b. are concerned that the price of a new innovation is affordable by most people.

c. look for low-risk products and wait for other consumers in the market to test products first.

d. question any change, liking products and services as they are now.

e. a and b are correct.

10 points

QUESTION 12

In applying design thinking, empathize most likely would include

a. interviewing the clients current managers and key customers.

b. creating a new competitive pricing strategy for the client.

c. brainstorming to suggest improved features for the clients proposed new service.

d. prototyping a new product design for testing by the client.

e. all of the above are correct.

10 points

QUESTION 13

Which of the following is an advantage to the use of surveys in research?

a. subjective

b. objective

c. primary

d. secondary

e. unbiased

10 points

QUESTION 14

When the choice of scale is the interval scale or ratio scale, the appropriate measure of central tendency is:

a. mode

b. median

c. mean

d. mean or standard deviation

e. a, b and c are correct

10 points

QUESTION 15

Customer Lifetime Value

a. refers to the projected sum of all transactions over the lifetime of any buyer.

b. is the index used by innovative firms to more effectively predict annual gross revenues.

c. applies to the intrinsic worth of a product during the ownership period of the original buyer.

d. includes the risk of a single customer defaulting on outstanding credit balances.

e. is the net present value of future cash flows as projected from a customer relationship.

10 points

QUESTION 16

The ______ is expected to influence the ______.

a. The ______ is expected to influence the ______.

b. independent variable; dependent variable

c. research hypothesis; research problem

d. dependent variable; independent variable

e. research hypothesis; marketing construct

10 points

QUESTION 17

From the team case Ford Hybrid Cars, we learn that:

a. Ford Motor Company is committed to pursuing sustainable alternatives to fossil fuel vehicles; the Bass Forecasting Model is adopted to explore future strategies.

b. Employing the Bass Forecasting Model, Ford is advised to cancel production of hybrid vehicles as a short-term strategy, and seek to satisfy only minimal consumer demand projections.

c. Employing the Bass Forecasting Model, Ford concludes that as a long-term strategy, investments should be fully diverted from hybrid vehicle research and fully devoted to newer technologies.

d. b and c are correct

e. a, b, and c are correct

10 points

QUESTION 18

TOWS analysis is best used for

a. linking a companys current strengths to future opportunities.

b. improving forecasting and decision-making.

c. quantifying service performance, using customer-driven market analytics.

d. determining best-fit outcomes in decision-making, using regression and extrapolation.

e. a and b are correct

10 points

QUESTION 19

In developing the Customer Profile for value proposition design, Pains include

a. those tasks which are problematic and challenging for the product or service marketer

b. contentious or disagreeable members of the product or service development team

c. anything that annoys your customer before, during and after trying to get a job done

d. anything that annoys you before, during and after trying to get a job done

e. all of the above are correct

10 points

QUESTION 20

Most likely, what type of research design would be used to help answer the question: Would millennial males be interested in a revolutionary, high-performance electric sports car concept?

a. causal research

b. exploratory research

c. situation analysis research

d. anecdotal research

e. expository research

10 points

QUESTION 21

From our team case about Forte Hotel, we learn that:

a. For the Forte Hotel, applying conjoint analysis is an efficient way to gather preference data from a large customer sample

b. Using conjoint analysis Forte Hotel determined five critical attribute categories for customer measurement of customer satisfaction, including Room, Business Amenities, and Leisure

c. Using conjoint analysis Forte Hotel determined that one product bundle option would be most likely to achieve highest market share, with the differentiation of a fruit and cheese bowl

d. a and b are correct

e. a, b, and c are correct

10 points

QUESTION 22

Good marketing research

a. is based upon the Scientific Method

b. uses creativity for problem-solving

c. uses multiple research methods

d. weighs the value of information against the cost for finding the information

e. all of the above are correct

10 points

QUESTION 23

Positioning best refers to:

a. multidimensional analysis of customer choices

b. specifically, sustainable growth of market share

c. sustainable competitive advantage (SCA)

d. the picture of a product or service in the minds eye of the customer

e. persuasive language crafted by skilled marketers, motivating the customer to buy

10 points

QUESTION 24

Values and Lifestyles (VALS) research, orginally developed by the Stanford Research Institute:

a. guarantees long-term customer relationships

b. evaluates the sustainable competitive advantages among competitors

c. identifies internal weaknesses of the firm

d. identifies market segmentation variables among consumers

e. a and b are correct

10 points

QUESTION 25

____ measures how many times average person is exposed to a message during a marketing campaign.

a. Frequency

b. Reach

c. Listener statistics

d. Coverage

e. Exposure

10 points

QUESTION 26

Which of the following research questions can best be answered through an experiment?

a. How can sentiment analysis help me to understand my customers' interests?

b. Will Tesla's Model Y with enhancements provide better performance ratings than Ford's new Mustang EV, comparably equipped?

c. Does the average male use cosmetics?

d. Is the standard of living higher today than ten years ago?

e. How often do Safeways customers purchase Brussels sprouts?

10 points

QUESTION 27

Brand awareness will be higher among consumers who see themselves as achievers, than among consumers who see themselves as experiencers. This sentence is an example of:

a. a positive correlation between research variables

b. a research question

c. a research hypothesis

d. a research objective

e. a definition of terms

10 points

QUESTION 28

Numerous approaches for forecasting future demand, both quantitative and qualitative, include

a. surveying buyers intentions + tracking actual sales and market shares

b. finding expert opinion + using test markets

c. following leading market indicators + collecting sales force opinions

d. a and c are correct

e. a, b and c are correct

10 points

QUESTION 29

In one form or another, a gap analysis can help:

a. measure differences between the potential and the reality of a product / market situation

b. determine what action is needed to bring about change from the present

c. for example, improve the quality of service delivery from known current levels

d. measure differences between intended product / market strategy and tactical results

e. all of the above are correct

10 points

QUESTION 30

Creating a persona

a. serves to visualize and appreciate the ideal, target customers motivations and behaviors.

b. helps to communicate and make memorable and measurable the attributes of the ideal, target customer.

c. is a hypothetical archetype of the ideal, target customer.

d. is developed from data about the ideal, target customers demographics, lifestyle choices, etc.

e. All of the above are correct.