MKT 331 Chapters 3 and 4 Test_100% Correct Answers
Chapters 3 and 4 Test
Due May 23 at 9:59pm Points 100 Questions 40
Available after May 17 at 6am
... [Show More] Time Limit 90 Minutes
Instructions
Attempt History
Attempt Time Score
LATEST Attempt 1 64 minutes 97.5 out of 100 *
Score for this quiz: 97.5 out of 100 *
Submitted May 18 at 10:50am
This attempt took 64 minutes.
This quiz/test consist of 40 questions. You will have two attempts and will be timed for 90 minutes.
Question 1 2.5 / 2.5 pts
The absolute limit of company demand is the market potential; the two
would be equal if the company captured 100 percent of the market.
Correct! Correct! True
False5/18/2020 Chapters 3 and 4 Test: Managerial Marketing OGMT447
https://voorhees.instructure.com/courses/1197/quizzes/2477 2/21
Question 2 2.5 / 2.5 pts
Prestige LLC, a small company that manufactures specialty cereals and
energy bars, wants to launch a "green marketing" program in response to
heightened consumer awareness about environmental issues. What
should the company do to maximize the program's chances of being
successful?
demonstrate that the products will benefit both customers and the society
in the long term
Correct! Correct!
emphasize benefits to the consumer rather than environmental benefits
focus on the efforts and costs incurred by the company to bring these
"green" products to consumers
engage in "greenwashing" to highlight the environmental benefits of the
product
explain the rules and regulations laid out by governmental agencies to
protect the environment
Question 3 2.5 / 2.5 pts
Each society contains ________, groups with shared values emerging
from their special life experiences or circumstances.5/18/2020 Chapters 3 and 4 Test: Managerial Marketing OGMT447
https://voorhees.instructure.com/courses/1197/quizzes/2477 3/21
stakeholders
cliques
consumer bundles
Correct! Correct! subcultures
behavioral niches
Question 4 2.5 / 2.5 pts
During a recession, the market demand curve, which is a function of
marketing expenditure, ________.
shifts upward
becomes vertical
remains unaffected
Correct! Correct! shifts downward
slopes downward
Question 5 2.5 / 2.5 pts
Which of the following is the largest contributor to global warming,
contributing almost a quarter of the carbon dioxide in the environment?
transportation5/18/2020 Chapters 3 and 4 Test: Managerial Marketing OGMT447
https://voorhees.instructure.com/courses/1197/quizzes/2477 4/21
industrial production facilities
Correct! Correct! electrical power plants
aerosol cans
rural cooking fires
Question 6 Not yet graded / 2.5 pts
Your Answer:
Briefly describe the methods of forecasting future demand on the basis of
past sales.
Survey of buyer’s inventions or the user’s expectation method -
anticipating what buyers are likely to do under a given set of conditions
Collective opinion or sales force composite method - sales
representatives to estimate their future sales
Experts’ opinions - companies buy economic and industry forecasts from
well-known economic-forecasting firms that have more data available and
more forecasting expertise
Market test method - help forecast new-product sales or established
product sales in a new distribution channel or territory.
Trend projection method - Time-series analysis breaks past time series
into four components (trend, cycle, seasonal, and erratic) and projects
them into the future.5/18/2020 Chapters 3 and 4 Test: Managerial Marketing OGMT447
https://voorhees.instructure.com/courses/1197/quizzes/2477 5/21
The methods are:
1. Time-series analysis, that breaks past time series into four
components (trend, cycle, seasonal, and erratic) and projects them
into the future
2. Exponential smoothing, that projects the next period's sales by
combining an average of past sales and the most recent sales,
giving more weight to the latter
3. Statistical demand analysis, which measures the impact of a set
of causal factors (such as income, marketing expenditures, and
price) on the sales level
4. Econometric analysis, which builds sets of equations that
describe a system and statistically derives the different parameters
that make up the equations statistically.
Question 7 2.5 / 2.5 pts
The available market is the set of consumers who have interest, income,
and access to a particular offer.
Correct! Correct! True
False
Question 8 2.5 / 2.5 pts
Suppose an individual buyer purchases three pairs of shoes each year at
$50 each pair and that there are 50 million such consumers in the
economy. Compute the total market potential for shoes.
$5,000 million5/18/2020 Chapters 3 and 4 Test: Managerial Marketing OGMT447
https://voorhees.instructure.com/courses/1197/quizzes/2477 6/21
$6,500 million
Correct! Correct! $7,500 million
$10,000 million
$75 billion
Question 9 2.5 / 2.5 pts
________ measures the impact of a set of causal factors (such as
income, marketing expenditures, and price) on the sales level.
Time-series analysis
Correct! Correct! Statistical demand analysis
Econometric analysis
Cost effectiveness analysis
Exponential smoothing
Question 10 2.5 / 2.5 pts
Firms find "reverse innovation" advantage by introducing a commodity in
a ________.
developed country and then distributing it globally
developing country and then distributing it in other developing countries5/18/2020 Chapters 3 and 4 Test: Managerial Marketing OGMT447
https://voorhees.instructure.com/courses/1197/quizzes/2477 7/21
Correct! Correct! developing country and then distributing it globally
developed country and then distributing it in developing countries
developed country and then distributing it in other developed countries
Question 11 2.5 / 2.5 pts
Jeanine would like to own a Mercedes but is unable to afford one at this
time. Jeanine is part of the ________ market for this product-
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