Question 1

Reading a magazine article about a competitor is a form of secondary research.

Accepted Answer

Reading a magazine article about a competitor to gather information is a form of secondary research as the information is already published and available for use.

Question 2

In examining target markets during a communications market analysis,the goal is to divide the total market into smaller market segments.

Accepted Answer

The goal of a communications market analysis is to identify and understand the different market segments within the total market, in order to effectively target and communicate with each segment. This involves dividing the market into smaller groups based on shared characteristics such as demographics, psychographics, behavior, needs, and preferences. By doing so, companies can tailor their messaging, marketing tactics, and product offerings to better meet the unique needs and interests of each segment, and ultimately increase their chances of success in the marketplace.

Question 3

In a communication market analysis,opportunities include an unfilled market niche or when the competition is doing a poor job of meeting the needs of some customers.

Accepted Answer

This statement is true. Opportunities in a communication market analysis can arise when there is an unfilled market niche or when the competition is not meeting the needs of certain customers. This presents an opportunity for a company to enter the market and meet those needs, potentially gaining a competitive advantage.

Question 4

Product positioning is the perception created in the consumer's mind regarding the nature of the competition and the external environment.

Accepted Answer

Product positioning is about how a product is perceived in the minds of consumers relative to competing products, focusing on its attributes, benefits, and how it fulfills specific needs, rather than the nature of the competition and the external environment.

Question 5

When examining competitors for a communications market analysis,it is essential to identify domestic competitors,but not foreign or international competitors.

Accepted Answer

It is important to examine both domestic and foreign/international competitors in a communications market analysis. This provides a comprehensive understanding of the competitive landscape and helps to identify potential threats and opportunities.

Question 6

In a communication market analysis,opportunities exist when the company has a distinct competence to offer customers or when a market niche is not being targeted with effective marketing communications.

Accepted Answer

Opportunities in communication market analysis can arise from the company having a unique ability that is valuable to customers, or from identifying an untapped market segment that can be effectively reached with marketing communications.

Question 7

In conducting a communications market analysis,an examination of customers should include current company customers as well as potential new customers.

Accepted Answer

To conduct a comprehensive communications market analysis, it is important to examine both the current customers of the company as well as potential new customers. This helps in identifying key trends, preferences, and behaviors of customers, and designing effective marketing and communications strategies to meet their needs and expectations. Therefore, option A is correct.

Question 8

Considering whether or not the competition is ignoring a set of customers is part of the search for opportunities in the communication market analysis.

Accepted Answer

When analyzing the communication market, it is important to consider whether the competition is overlooking certain customers or market segments. This can present an opportunity for a company to fill a gap in the market or address the unmet needs of those customers. Therefore, the statement is true.

Question 9

PetSmart operates a large number of retail outlets and has begun opening a series of pet hotels.

Accepted Answer

PetSmart operates over 1,500 retail stores across North America and they have started offering lodging services for pets through their PetSmart Hotels.

Question 10

Visiting a competitor's store to see how salespeople deal with customers is a form of secondary research.

Accepted Answer

The answer of Visiting a competitor's store to see how...

Question 11

When conducting a communication market analysis,an examination of competitors is used to identify major suppliers for the firm.

Accepted Answer

An examination of competitors in a communication market analysis is typically used to understand competitive positioning, strategies, and market share, not to identify major suppliers for the firm.

Question 12

A promotions opportunity analysis is the process of identifying target audiences for a company's products and the communication strategies needed to reach these audiences.

Accepted Answer

A promotions opportunity analysis involves identifying specific audiences for a company's products and developing communication strategies tailored to reach those audiences. This analysis helps a company to focus its marketing efforts, optimize promotional initiatives, and achieve its business objectives.

Question 13

The first step of a promotions opportunity analysis is the creation of a communications budget.

Accepted Answer

The first step of a promotions opportunity analysis is to identify and assess target markets and promotional opportunities, not to create a communications budget.

Question 14

When searching for opportunities in a communication market analysis,a company's marketing team should examine all available data and information about the market.

Accepted Answer

Examining all available data and information about the market is crucial in order to conduct a comprehensive communication market analysis. This allows companies to identify potential opportunities and make informed decisions about their marketing strategies.

Question 15

A communications market analysis is the process of discovering the company's strengths and weaknesses in the area of marketing communications,along with an analysis of the opportunities and threats in the firm's external environment.

Accepted Answer

A communications market analysis involves identifying a company's marketing communication strengths and weaknesses and analyzing external opportunities and threats to the company's marketing efforts.

Question 16

For many individuals,pets are now considered to be part of the family and as a result are treated like children.

Accepted Answer

Many individuals now consider their pets as part of their family and treat them like children, buying them treats, toys, and sometimes even dressing them up.

Question 17

A communication market analysis examines five areas: competitors,opportunities,threats,target markets,and customers.

Accepted Answer

The answer of A communication market analysis examines five areas:...

Question 18

In conducting a communications market analysis,an examination of customers involves understanding how people in each customer group think,why they buy,when they buy,where they buy,and how they evaluate a product after a purchase.

Accepted Answer

Conducting a communications market analysis involves understanding the behavior of different customer groups, including their thoughts, motivations for buying, purchase timing and location, and post-purchase evaluation of products.

Question 19

One of the objectives of a promotions opportunity analysis is to identify the characteristics of each target audience so that precise marketing communications messages can be designed.

Accepted Answer

One of the main objectives of a promotions opportunity analysis is to identify the characteristics and unique needs of each target audience, in order to create tailored marketing messages that best appeal to them.

Question 20

Primary research involves searching the library for literature about the competition.

Accepted Answer

Primary research involves collecting data directly from sources, such as surveys, interviews, or experiments, rather than relying on literature or secondary sources. Therefore, searching the library for literature about the competition would be considered secondary research.

Quiz 4: Promotions Opportunity Analysis