Question 19 (3 points) Marketing is crucial for triggering ___________ cues with

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Question 19 (3 points)

Marketing is crucial for triggering ___________ cues within the consumer base.

Question 19 options:

internal

external

peer-influenced

inherent

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Question 20 (3 points)

A(n) ___________ product is a good or service that has unique characteristics and is important to the buyer. S/he will devote substantial effort to purchase the product.

Question 20 options:

convenience

unsought

shopping

None of the above

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Question 21 (3 points)

The world is now largely a(n) ___________-based economy.

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Question 22 (3 points)

In developing new products and services, there is a positive correlation between risk and potential reward.

Question 22 options:

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Question 23 (3 points)

What is the goal of market segmentation?

Question 23 options:

To use the same marketing strategy for all groups

To make the market segments clear using color coding

To have segments that are as internally homogenous as possible

To retain significant diversity within the market segments

Even though about ___ % of the dollar price paid by consumers for a product goes to cover the cost of marketing, the __________ of exchange offsets this cost.

Question 25 options:

25; effectiveness

75; effectiveness

50; efficiency

25; efficiency

internal

external

peer-influenced

inherent

Explanation / Answer

inherent
Marketing invokes the emotional side of the consumer and the results are used for the benefits. The inherent emotions or actions should be the target which attracts the marketing strategies and in turn helps in profits.

20
none of the above
Speciality products are those goods or services that has unique characteristics and important to the buyer and thus they will devote good effort to purchase it.

21.
Knowledge based economy
The whole world works with the help of computers internet. To learn all these proper knowledge is essential. Infact for any handling of situation or growth proper knowledge sharing is important, thus, world is largely a knowledge based economy.

22.
False
Developing new products has more risk but taking more risk does not mean there will be more profit. More risk may end up giving losses too. Similarly, there are projects where low risks are taken but it has given good rewards. So this statement is false, rather it can be said that there is a positive correlation between risk taken and the potential good results.

23
to have segments that are as internally homogenous as possible
The markets are huge and they are full of consumers with different tastes and interests. Segmentation helps to break down the large group into smaller groups who are clear about their choices and it narrows down the large target audience helping to cater them properly under one roof rather than being scattered.

24
25; effectiveness
even the least percentage of dollar price is paid to cover the costs it will still offset its effectiveness.

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