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WorksheetsMarketing Chapter 7 Competition
Total questions: 45
Worksheet time: 23mins
Name
Class
Date
1.
Each person is a part of only one market segment that influences all of his or her purchase decisions.
a)
true
b)
false
2.
Businesses use marketing information and market research to complete market segmentation.
a)
true
b)
false
3.
Dividing consumers into markets based on where they live is referred to as demographic segmentation.
a)
true
b)
false
4.
Market segmentation does not apply to business markets.
a)
true
b)
false
5.
A market opportunity is an identified market with excellent potential based on careful research.
a)
true
b)
false
6.
Target markets should be selected from the segments that have the greatest potential.
a)
true
b)
false
7.
A successful company’s market share should be larger than the market potential.
a)
true
b)
false
8.
__________ directs a company’s marketing mix at a large and heterogeneous group of consumers.
a)
mass marketing
b)
advertising
c)
market segmentation
d)
market researck
9.
People’s interests and values are referred to as
a)
demographics
b)
psychographics
c)
needs and wants
d)
personal qualities
10.
An identified market with excellent potential based on careful research is a
a)
market opportunity
b)
target market
c)
market segment
d)
mass market
11.
If the market potential for gasoline sales in one community is $10,385,990 and one convenience store has a market share of 8%, the value of its gasoline sales is
a)
$8,308,792
b)
$11,216,869
c)
$83,087,920
d)
$830,879.20
12.
Positioning highlights differences between competitors in the mind of the consumer.
a)
true
b)
false
13.
One method of positioning a product is to associate a type of user with the product.
a)
true
b)
false
14.
Once consumers have developed a perception of a product, businesses will be unable to change the product’s position.
a)
true
b)
false
15.
Anytime you see an ad comparing one product with a well-known competitor’s products, you can assume that a competitor positioning strategy is being used.
a)
true
b)
false
16.
Consumer perceptions are the images consumers have of competing goods and services in the marketplace.
a)
true
b)
false
17.
Successful companies base their positioning strategy decisions solely on the actions of their competitors.
a)
true
b)
false
18.
Changes in the business environment can have an impact on the success of a company’s positioning strategy.
a)
true
b)
false
19.
Which of the following is not a basis for product positioning?
a)
price and quality
b)
use or application
c)
product attribute
d)
brand name
20.
A business will do well when consumers perceive the attributes of its product as being
a)
expensive
b)
close to the consumers' ideal image
c)
cheap
d)
of average quality
21.
The ideal competitive position for a product is when consumers view the company’s product attributes as _______________ when compared to those of competitors.
a)
superior
b)
cheaper
c)
different
d)
similar
22.
The business environment includes
a)
resource availability
b)
changing consumer needs
c)
new technology
d)
all of the above
23.
The type of competition a business faces will affect its positioning.
a)
true
b)
false
24.
An example of direct competition is Nike and Reebok.
a)
true
b)
false
25.
Indirect competition occurs when two brands of similar products are compared.
a)
true
b)
false
26.
All businesses should avoid using price competition.
a)
true
b)
false
27.
Emphasizing qualities such as service, quality, credit, location, guarantees, or a unique image is appropriate for businesses using non-price competition.
a)
true
b)
false
28.
Businesses that indirectly compete with each other will need to use non-price competition.
a)
true
b)
false
29.
Competition forces businesses to offer reasonable prices for the products and services that consumers use.
a)
true
b)
false
30.
Competition limits the variety of products that are available to consumers.
a)
ture
b)
false
31.
Rivalry among firms on the basis of price and value is called
a)
direct competiton
b)
indirect competition
c)
price competition
d)
all of the above
32.
Every company wants to make its products
a)
more expensive
b)
distinctive
c)
less expensive
d)
as similar as possible to the competition
33.
Competition creates products that
a)
are improvements over existing products
b)
are reasonably priced
c)
offer new product ideas
d)
all of the above
34.
Which of these is not a benefit of competition?
a)
It allows businesses to charge higher prices for products.
b)
It forces businesses to offer reasonable prices to customers.
c)
It encourages businesses to improve their products.
d)
It encourages business to search for new product ideas.
35.
If a company has a marketing mix that meets the needs of its customers, it will not need to gather information on the marketing mixes its competitors use.
a)
true
b)
false
36.
If a company lowers its prices, all companies in direct competition will have to lower their prices as well.
a)
true
b)
false
37.
Making a product available to consumers in more locations will usually add to the business’s costs.
a)
true
b)
false
38.
If customers prefer the new product of a competitor, it will be difficult to win those customers back.
a)
true
b)
false
39.
An advantage of promotional strategies is that they can be changed quickly.
a)
true
b)
false
40.
The process of gaining competitive market information is called market intelligence.
a)
true
b)
false
41.
Because it is difficult to determine the source of much of the information on the Internet, it is not a good source of competitive information.
a)
true
b)
false
42.
It would be unethical to obtain and use information that a competitor considers to be private and does not disclose outside of the organization.
a)
true
b)
false
43.
Making changes in the distribution strategy should be planned carefully because
a)
it usually takes a great deal of time
b)
it often involves other businesses to implement the change
c)
it can increase the price customers must pay for the product
d)
all are correct
44.
The competitive marketing mix element that usually receives more attention than others in the mix is
a)
product
b)
distribution
c)
price
d)
promotion
45.
Appropriate methods to gain competitive information would include all of the following except
a)
purcasing and analyzing competitors' products
b)
attending trade shows
c)
asking the employees of competitors to share information
d)
all are appropriate
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