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Marketing exam 1 quiz supplementation

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Quiz on Marketing exam 1 quiz supplementation, created by Julia Dubois on 09/24/2017.
Julia Dubois
Quiz by Julia Dubois, updated more than 1 year ago
Julia Dubois
Created by Julia Dubois about 7 years ago
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Resource summary

Question 1

Question
Marketing is __________
Answer
  • Manipulation
  • Exchange
  • Unnecessary
  • Inefficient

Question 2

Question
No money is exchanged in ___________, the process of exchanging goods and services between two parties.
Answer
  • non-market trading
  • market clearing
  • barter
  • product marketing

Question 3

Question
Marketing exists because people have ________________ that they are willing to give up things of value to satisfy.
Answer
  • preferences
  • needs and wants
  • desires and preferences
  • cravings

Question 4

Question
When an individual donates money to a charity, a ____________ transaction has taken place.
Answer
  • non-marketing
  • primary
  • post-marketing
  • marketing

Question 5

Question
When an individual “sells” her time and labor to an organization, a marketing transaction takes place.
Answer
  • true
  • false

Question 6

Question
With_________________, individuals find exchange partners to obtain the items that they need.
Answer
  • standardized exchange
  • decentralized exchange
  • self-sufficiency
  • none of the above

Question 7

Question
The evolution of marketing proceeds in which of the following orders:
Answer
  • centralized exchange, decentralized exchange, self-sufficiency
  • self-sufficiency, decentralized exchange, standardized exchange
  • decentralized exchange, standardized exchange, self-sufficiency
  • self-sufficiency, decentralized exchange, centralized exchange

Question 8

Question
Which of the following types of markets includes a middleman (that is, a merchant)?
Answer
  • decentralized exchange
  • centralized exchange
  • standardized exchange
  • self-sufficiency

Question 9

Question
Which of the following types of markets is least efficient?
Answer
  • decentralized exchange
  • centralized exchange
  • standardized exchange
  • self-sufficiency

Question 10

Question
Exchange brings ___________
Answer
  • teamwork
  • new opportunities
  • efficiency
  • inefficiency

Question 11

Question
___________________ is the process of setting marketing goals, the planning and execution of activities to meet these goals, and measuring progress toward their achievement.
Answer
  • Marketing
  • Marketing discipline
  • Marketing management
  • Marketing strategy

Question 12

Question
A product is a good, service, or idea to _______ the customer’s needs.
Answer
  • create
  • influence
  • satisfy
  • reduce

Question 13

Question
__________ is/are the means of communication with the customer
Answer
  • Process
  • People
  • Price
  • Promotion

Question 14

Question
Robert Louis Stevenson once said that “Everyone lives by _________ something.”
Answer
  • marketing
  • producing
  • building
  • selling

Question 15

Question
If the National Institutes of Health issued a guideline with cautions about the intake of certain types of artificial sweeteners, this would be an example of marketing.
Answer
  • true
  • false

Question 16

Question
It is important that any employees that interact with a company’s customers carry “marketing” as part of their job titles.
Answer
  • true
  • false

Question 17

Question
Roughly ___ % of the dollar price paid by consumers for a product goes to cover the cost of marketing.
Answer
  • 10
  • 25
  • 50
  • 75

Question 18

Question
There are several different types of marketing functions that must take place in order to get products from producers to consumers. Which of the following is NOT one of those functions?
Answer
  • physical distribution
  • matching
  • producing the physical product
  • promotion

Question 19

Question
Which company is generally credited with originating the marketing concept?
Answer
  • General Electric
  • IBM
  • Kodak
  • Ford

Question 20

Question
Which of the following management orientations makes profits through sales volume?
Answer
  • marketing concept
  • selling concept
  • production concept
  • societal marketing concept

Question 21

Question
The __________ concept recognizes that people don’t really buy products, they buy solutions to problems.
Answer
  • marketing
  • selling
  • management
  • solutions

Question 22

Question
Which of the following types of needs would likely be satisfied LAST if other types of needs were present?
Answer
  • physiological needs
  • social needs
  • personal needs
  • safety needs

Question 23

Question
Which of the following types of needs reside at the lowest level in the PSSP Hierarchy of Needs?
Answer
  • physiological needs
  • social needs
  • personal needs
  • safety needs

Question 24

Question
A ______ is the recognition of any difference between a consumer’s actual state and some ideal or desired state.
Answer
  • want
  • desire
  • problem
  • need

Question 25

Question
Which type of need would most food and beverage companies primarily attempt to satisfy?
Answer
  • physiological needs
  • social needs
  • personal needs
  • safety needs

Question 26

Question
Allstate Insurance has traditionally focused its advertising on which type of consumer need?
Answer
  • social needs
  • physiological needs
  • safety needs
  • personal needs

Question 27

Question
Marketers can create core needs.
Answer
  • true
  • false

Question 28

Question
Marketers are most effective at influencing consumer _______.
Answer
  • needs
  • wants

Question 29

Question
Which of the following companies recently identified a pain point faced by business travelers?
Answer
  • DUFL
  • United Airlines
  • Marriott Hotels
  • Hertz Rentals

Question 30

Question
The consumption chain is the sequence of stages that comprise the customer’s __________ with a product or service.
Answer
  • sales process
  • service recovery process
  • consumption process
  • experience

Question 31

Question
Which of the following is not a reason that marketing needs data?
Answer
  • To prove its contribution to the rest of the organization
  • To improve upon its efforts
  • To know how effective its efforts are
  • All of the above are reasons that marketing needs data.

Question 32

Question
Data and measurements can be used to prove the effectiveness of marketing efforts.
Answer
  • True
  • False

Question 33

Question
Which of the following offers a solution to the problem that everyone has an opinion about the quality of marketing’s efforts?
Answer
  • Six sigma quality programs
  • Marketing analytics
  • Competitive espionage
  • Customer insight research

Question 34

Question
Which of the following is not a benefit of marketing analytics?
Answer
  • They build marketing’s credibility
  • They help improve marketing performance
  • They keep marketing focused on objectives
  • They require very low resource investment

Question 35

Question
Companies that have no marketing analytics process, make decisions by instinct, and view marketing as an expense might be referred to as _________________.
Answer
  • typical of 85% of companies.
  • “rollercoaster marketing companies”
  • “flying blind”
  • None of the above.

Question 36

Question
“Pseudo Analytics” are marketing analytics that rely on proxy data from external sources.
Answer
  • True
  • False

Question 37

Question
Most companies are “flying blind” when it comes to marketing analytics.
Answer
  • True
  • False

Question 38

Question
The first step in the Marketing Analytics Process is to
Answer
  • analyze the available metrics.
  • take improvement actions.
  • identify the right metrics.
  • None of the above.

Question 39

Question
One outcome of taking improvement actions (as a stage in the Marketing Analytics Process) is identifying the right metrics.
Answer
  • True
  • False

Question 40

Question
The “right” marketing analytics metrics are typically related to:
Answer
  • Expenses
  • Revenues
  • The balance sheet
  • Costs

Question 41

Question
Marketing’s objectives are ________ derived from the overall business objectives.
Answer
  • Rarely
  • Sometimes
  • Usually
  • Always

Question 42

Question
A business’s culture might function as a barrier when it encourages employees to
Answer
  • Play politics
  • Work on what’s urgent
  • Punish mistakes
  • All of the above are correct.

Question 43

Question
One of the ways in which a company’s culture can serve as a catalyst is when it encourages employees to trust data.
Answer
  • True
  • False

Question 44

Question
There are two sources of marketing data, internal data and external data. Which of the following types of data come from an external source?
Answer
  • Sales orders
  • Shipment data
  • Retailer POS
  • None of the above types of data comes from an external source.

Question 45

Question
Marketing analytics data can be used both internally and externally.
Answer
  • True
  • False

Question 46

Question
Sales orders, inventory data, and shipment information are examples of sources of ___________.
Answer
  • Business intelligence
  • Competitive intelligence
  • Investor relations
  • Market research

Question 47

Question
Competitive intelligence uses external data for external uses.
Answer
  • true
  • false

Question 48

Question
______________________ uses internal data to get external people such as shareholders, the media or the government to support and protect the company and its views.
Answer
  • Business intelligence
  • Competitive intelligence
  • Investor relations
  • Market research

Question 49

Question
If a company has the technical ability to acquire and analyze data, it is always legal for it to do so.
Answer
  • True
  • False

Question 50

Question
Ethical decisions are the responsibility of ____________________.
Answer
  • Company executives.
  • Marketing analytics professionals.
  • Frontline employees.
  • All of the above.

Question 51

Question
_____________ is a simple field experiment in which two versions of some marketing element are randomly assigned to subjects in the field and then compared on outcomes of interest.
Answer
  • An A/B test
  • An analytic test
  • Big data
  • A sub-optimization study

Question 52

Question
According to Johnnie Hurns, Chief Operating Officer of Interworks, “Data without a question is pretty useless…it’s just ___________.”
Answer
  • wasted effort
  • taking up space
  • waiting for the right question
  • more data

Question 53

Question
Interworks wants to help companies through which of the following progressions?
Answer
  • Data -> Information -> Insight
  • Information -> Data -> Insight
  • Insight -> Data -> Information
  • Data -> Insight -> Information

Question 54

Question
Which of the following is an example of primary data?
Answer
  • Operational data used to identify errors in manufacturing
  • Election data from preliminary rounds of voting, typically restricted to candidates from a single political party
  • Survey data collected to measure customer satisfaction
  • Analytics used to isolate operational factors that influence firm revenue

Question 55

Question
Exploratory research is used to find final answers to research problems.
Answer
  • True
  • False

Question 56

Question
Exploratory research has several characteristics. Which of the following is not typically one of those characteristics?
Answer
  • Flexible
  • Small scale
  • Concerned with cause and effect
  • Each of the above characteristics is typically true of exploratory research

Question 57

Question
Data mining is a quantitative form of exploratory research.
Answer
  • True
  • False

Question 58

Question
Most of the seven types of primary data are used to predict what type of data?
Answer
  • Attitudes
  • Awareness/ knowledge
  • Purchase intentions
  • Behavior

Question 59

Question
Building a survey is _____________ than most people think it is.
Answer
  • much simpler
  • more difficult
  • more fun
  • a shorter process

Question 60

Question
The past twenty years have witnessed an explosion in the use of ______________.
Answer
  • focus groups
  • personal interview surveys
  • online surveys
  • telemarketing

Question 61

Question
Developing a customer insight survey is a _________ process.
Answer
  • simple
  • 10-step
  • low-level
  • none of the above

Question 62

Question
In a recall task, respondents are asked to retrieve the target object (e.g., a brand name) from memory.
Answer
  • True
  • False

Question 63

Question
For which of the following tasks is the respondent presented with a target object (e.g., a brand name) and asked whether or not s/he has seen the object?
Answer
  • Recall task
  • Surface memory task
  • A/B test
  • Recognition task

Question 64

Question
The _________________________ uses a single item to group respondents into two categories, “detractors” and “promoters.”
Answer
  • net promoter score
  • traditional satisfaction measure
  • promotion assessment measure
  • SERVQUAL measure

Question 65

Question
Having a point of comparison for a rating scale score on a variable such as satisfaction is important for understanding the meaning of the score.
Answer
  • True
  • False

Question 66

Question
A _________________ norm compares scores on a measure for different entities at a single point or over time.
Answer
  • time-based
  • population-based
  • routinized
  • none of the above

Question 67

Question
If the Target Corporation routinely assesses customer satisfaction at each of its stores, thereby allowing a store manager to track customer satisfaction at her store over time, the manager is utilizing a ___________________.
Answer
  • time-based
  • population-based
  • routinized
  • none of the above

Question 68

Question
Although there are many things that managers must consider when evaluating the results of research projects, there are four primary areas of concern. Which of the following is not one of those areas of concern?
Answer
  • Missing information
  • False precision
  • Assumed causation
  • Biased samples
  • Each of the above is a primary area of concern

Question 69

Question
In customer insight research, it is appropriate to assume that if two variables are correlated with one another, one of the variables has caused the other variable to occur.
Answer
  • True
  • False

Question 70

Question
Which of these is not part of the process of consumption?
Answer
  • Information search
  • Alternative Evaluation
  • Reverse Marketing
  • Need Recognition

Question 71

Question
What is an example of a social need?
Answer
  • Relationships
  • Food
  • Health
  • Achievement

Question 72

Question
Which of these is not a physiological need?
Answer
  • Food
  • Beverage
  • Safety
  • Rest

Question 73

Question
Needs and desires are preexisting and unchangeable.
Answer
  • True
  • False

Question 74

Question
The role of marketing is solely to observe the needs and desires of consumers.
Answer
  • True
  • False

Question 75

Question
Marketing is crucial for triggering ____ cues within the consumer base.
Answer
  • Internal
  • External
  • Peer-influenced
  • Inherent

Question 76

Question
Which of these factors does not influence how much time consumers spend searching for information?
Answer
  • Loyalty to brand
  • Packaging
  • Risk involved with purchase
  • Purchasing habits

Question 77

Question
What would be an objective attribute for the purchase of a first car?
Answer
  • Favorite color
  • Comfort
  • Design
  • Gas mileage

Question 78

Question
_________ is defined as the set of products or services that comes to mind when a consumer recognizes a need.
Answer
  • Objective Attributes
  • Subjective Attributes
  • Alternative Evaluation
  • Consideration Set

Question 79

Question
Two crucial questions consumers must determine after deciding to purchase a product are:
Answer
  • When and How much
  • When and Where
  • Where and Why
  • What and Where

Question 80

Question
Sarah is on her way to a job interview when it suddenly starts to rain. Which of these purchase decision criteria is likely the biggest driver for her decision to buy an umbrella on her way to the interview?
Answer
  • Discounts
  • Warranty
  • Peer-influence
  • Urgency

Question 81

Question
Where do consumer expectations come from?
Answer
  • Other consumers (friends and family, etc)
  • Celebrity endorsements of the product
  • The amount of time spent researching the product
  • Enthusiasm of the salesperson

Question 82

Question
What is the last stage of the Process of Consumption?
Answer
  • Purchase
  • Reaction
  • Alternative Evaluation
  • Finality

Question 83

Question
Most evaluation with services takes place:
Answer
  • While researching the service
  • While discussing the service with others
  • During and after consumption
  • Before consumption

Question 84

Question
How does the Process of Consumption for products differ from the Process of Consumption for services?
Answer
  • For Products, Information Search appears before Need Recognition
  • For Services, Need Recognition appears after Purchase
  • For Services, Evaluation of Alternatives appears after Purchase
  • There is no difference between the Processes.

Question 85

Question
Services are riskier purchases than products.
Answer
  • True
  • False

Question 86

Question
Josh is getting his haircut in Stillwater for the first time. A haircut is defined as a ____, therefore he will rely most heavily on _______ when making his decision of where to go.
Answer
  • Product; Information Search
  • Product; Recommendations from personal sources
  • Service; Information Search
  • Service; Recommendations from personal sources

Question 87

Question
The consideration set for services is ________ when compared to the consideration set for products
Answer
  • Larger
  • Smaller
  • The same size

Question 88

Question
Buyers are less loyal to services than they are to products of equal value.
Answer
  • True
  • False

Question 89

Question
The consumer experience is exactly the same for all consumers.
Answer
  • True
  • False

Question 90

Question
In Business-to-Business transactions, the main focus is on:
Answer
  • Efficiency
  • Price
  • The customer relationship
  • The product itself

Question 91

Question
It is more likely that individual consumers will be willing to bargain than larger companies.
Answer
  • True
  • False

Question 92

Question
Goodyear is looking to sell tires to both Walmart and individual consumers. Goodyear’s marketing team is expecting to need a different strategy for each of these two groups. Which of these is not a reason for them to expect these differences?
Answer
  • Consumers are more likely to buy spontaneously
  • Businesses are more concerned with the brand image
  • Businesses are generally more informed than consumers
  • Consumers buy what they want, not always what they need

Question 93

Question
How does business purchasing differ from consumer purchasing?
Answer
  • B2B purchasing requires a qualified expert
  • B2C products are more customized
  • More buying units exist in B2B markets
  • Businesses are very concerned with a product’s appearance

Question 94

Question
Why is transaction size so crucial for B2B transactions?
Answer
  • One or two deals can make a huge difference
  • The spending range of businesses is limited
  • More buying units exist in B2B transactions
  • Transaction size is not important

Question 95

Question
Anna has been promoted to Head of Advertising in her company’s marketing department. The company currently allocates the same amount of money for advertising to individual consumers and advertising to businesses. Should Anna change this advertising budget, and if so, how?
Answer
  • Yes; she should give more money to B2B advertising
  • Yes; she should give more money to B2C advertising
  • Yes; she should decrease the advertising budget altogether and give more money to sales
  • No; advertising should be equal for B2B and B2C marketing

Question 96

Question
What is an example of relationship marketing?
Answer
  • Personalized advertising
  • Customized products
  • Taking a customer to lunch
  • Offering discounts

Question 97

Question
B2B companies put ______ effort into trying to retain customers than B2C companies.
Answer
  • Less
  • More
  • An equal amount
  • This is irrelevant to B2B transactions

Question 98

Question
SOW is defined as
Answer
  • The amount of a customer’s spending captured by the business
  • The surplus product produced by a business
  • The opportunities for future profit earned by advertising
  • The amount of a customer’s spending spent in a single purchase

Question 99

Question
If a family purchases 2 season tickets for the Dallas Cowboys and 4 season tickets for the Oklahoma City Thunder, what is the SOW of season tickets for this family from OKC’s perspective?
Answer
  • 48%
  • 54%
  • 67%
  • 83%

Question 100

Question
What makes a word-of-mouth recommendation more valuable to potential consumers?
Answer
  • A celebrity endorsement
  • Many variations of the advertisement
  • Familiarity with the same advertisement over time
  • A belief that the recommendation is non-commercial

Question 101

Question
From a marketing perspective, how does a business succeed in the long run?
Answer
  • Building up cash stores
  • Satisfying customer needs
  • Efficient supply chain
  • Direct advertising

Question 102

Question
A business can attempt to increase its SOW for individual consumers by
Answer
  • Increasing repeat business
  • Increasing positive word of mouth
  • Implementing more coupons and discounts
  • Directing more individual advertising

Question 103

Question
Market segmentation is defined as ______.
Answer
  • Segmenting consumers in order to market to the groups more efficiently
  • Segmenting consumers into age ranges only
  • Segmenting products so consumers can pick what they prefer
  • Segmenting products based on quality

Question 104

Question
What is the goal of market segmentation?
Answer
  • To have segments that are as internally homogeneous as possible
  • To retain significant diversity in the market segments
  • To make the market segments clear using color coding
  • To use the same marketing strategy for all groups

Question 105

Question
What is mass marketing?
Answer
  • Offering the same marketing mix to all potential consumers
  • Campaigning against the trend of market segmentation
  • Assembly-line production
  • Creating a large quantity of advertisements

Question 106

Question
Which of these is not a part of the Market Segmentation Process?
Answer
  • Create distinct products for each target segment
  • Identify distinct segments
  • Create marketing mix for each target segment
  • Consider who, what, how, when, where, and why

Question 107

Question
What kind of company might be most interested in separating market segments based on age?
Answer
  • Life insurance
  • Automobile manufacturer
  • Cable and streaming
  • Retail

Question 108

Question
Which of these is not a demographic criterion used to separate market segments?
Answer
  • Marital status
  • Gender
  • Annual household income
  • Ethnicity

Question 109

Question
Separating market segments based on demographics is entirely subjective
Answer
  • True
  • False

Question 110

Question
Mariah has a new job at a rock climbing supply store. Her store has a range of equipment to fit everyone from recreational climbers to elite professionals. What specific market segmentation strategy might Mariah be most interested in using? Lifestyle (Activity) Lifestyle (Opinions) Demographics (Age) Demographics (Location)
Answer
  • Lifestyle (Activity)
  • Lifestyle (Opinions)
  • Demographics (Age)
  • Demographics (Location)

Question 111

Question
As an Aspen barista, James is convinced that 25% of his regular customers account for nearly 60% of the store’s weekly orders. He wants to speak with his manager about a rewards program as a way to continue marketing specifically to these customers. James’ hunch and subsequent plan are best defined as ______
Answer
  • Usage Rate Segmentation
  • Demographics Segmentation
  • Lifestyle Segmentation
  • Value Segmentation

Question 112

Question
A local mall only advertises during the months of November-January, but advertises aggressively for that entire span of time. What best describes this marketing strategy?
Answer
  • Usage Situation Segmentation
  • Usage Rate Segmentation
  • Geographic Location Segmentation
  • Income Segmentation

Question 113

Question
What is the point of Target Marketing?
Answer
  • Focusing the firm’s marketing efforts more specifically
  • Decreasing overall marketing
  • Cautious spending in unpredictable markets
  • Marketing only high-quality products

Question 114

Question
Which of these is not a trait of desirable target markets?
Answer
  • Limited size
  • Clearly defined
  • Stable
  • Accessible

Question 115

Question
Why is stability so important a trait to look for in potential target markets?
Answer
  • Dynamic markets require frequent change, and change is expensive
  • Dynamic markets are high-risk, high-reward, and therefore fully saturated
  • Stable markets are rare
  • Dynamic markets have many new entrants, making the marketing environment too risky

Question 116

Question
Fred and George have a great idea for joke shop products, but are currently attending a school where such products are banned. The only market they can think to sell their products to is outside of the school, and they have no way to ship large quantities beyond the campus. What feature does their current target market lack?
Answer
  • Accessibility
  • Identifiability
  • Stability
  • Congruency

Question 117

Question
Which of these is not a Target Market Strategy?
Answer
  • Value-Weighted
  • Undifferentiated
  • Differentiated
  • Concentrated

Question 118

Question
A firm with excellent Product-Market Fit will always be the market leader
Answer
  • True
  • False

Question 119

Question
From a marketing standpoint, satisfying needs is more important than selling products.
Answer
  • True
  • False

Question 120

Question
Product-Market Fit is only profitable in large markets
Answer
  • True
  • False

Question 121

Question
Is using a Buyer Persona more helpful than using basic demographics, and if so, why?
Answer
  • Yes, a Buyer Persona provides marketers with a more personable, tangible, and holistic idea of who to target
  • Yes, a Buyer Persona lets companies better determine income
  • No, basic demographics and Buyer Persona are equally helpful for marketers
  • No, demographics are more helpful because they are objective and empirical

Question 122

Question
Positioning has more to do with what a company does with its products than what it does in marketing to potential customers
Answer
  • True
  • False

Question 123

Question
Positioning is defined as _____
Answer
  • Developing a market strategy to influence how a specific segment views the company
  • Developing specific variations of a product to fit each segment
  • Determining the easiest market segments for focused marketing efforts
  • Jostling for market position with other corporations in the industry

Question 124

Question
The real power in positioning lies with the __________. Why?
Answer
  • Consumer; no one can ultimately control what the consumer thinks about products and companies
  • Competition; a company’s position is only in comparison to the other industry leaders
  • Production manager; quality of product is the most important factor in positioning
  • Marketing manager; specific advertisements are persuasive

Question 125

Question
Your friend, an avid reader, gives you a list of her favorite science fiction books. The fact that these books are her “favorite” implies what?
Answer
  • These books hold a more positive position in your friend’s mind when compared to other books of the same genre
  • These books are objectively better than any other science fiction novels
  • All avid readers have the same opinions about which science fiction books are best
  • These books were marketed to your friend’s market segment

Question 126

Question
Your grandfather’s first car was a Ford, and though he has bought several cars over his lifetime, he only ever purchases from this manufacturer. This is an example of what?
Answer
  • The importance of pioneering in building brand loyalty
  • The importance of ingenuity in automobile design
  • The brand loyalty ingrained in older generations
  • The failures of other car manufacturers

Question 127

Question
The Pioneering advantage is always easily overcome by later competitors
Answer
  • True
  • False

Question 128

Question
After several years of starting his morning with coffee, Brett studies abroad in England where most people are accustomed to drinking tea. When Brett attempts to start his day with tea, he will be comparing that day’s experience to his usual experience with coffee. Why?
Answer
  • Coffee is the “pioneer” in this situation, and therefore Brett will use coffee as the standard
  • Coffee is more caffeinated than tea
  • Changes in the market are generally scorned by existing consumers
  • Culture differences change a product’s position in consumers’ minds subconsciously

Question 129

Question
Lehcar Diamond Jewelers, a French company, recently entered the U.S. market by pointing out several favorable characteristics of Tiffany & Co., an industry leader, and noting how it also possessed those characteristics. Which of the following positioning strategies is Lehcar Diamond Jewelers attempting to pursue?
Answer
  • Alignment
  • Anti-Alignment
  • Divide and Conquer
  • Confidence Marketing

Question 130

Question
What is a benefit of alignment marketing strategies?
Answer
  • Companies can tell the truth about their performance
  • Companies can connect themselves with the good reputations of better-known firms
  • Companies can use comparisons with their competition for their own benefit
  • All of these are benefits

Question 131

Question
When an industry as a whole has a negative reputation, what strategy might a firm use to work this to their advantage?
Answer
  • Anti-Alignment
  • Alignment
  • Divide and Conquer
  • Market Defying

Question 132

Question
A recent example of the anti-alignment positioning strategy was carried out by ____________.
Answer
  • A firm in the phone carrier industry
  • A firm in the restaurant industry
  • A Division 1 university
  • A professional athletic team

Question 133

Question
What is a niche market?
Answer
  • A narrowly defined segment of consumers with specific needs
  • A market that has not yet been fully defined
  • An unchangeably small market segment
  • A segment of consumers disgruntled with current market offerings

Question 134

Question
Blue Spruce in downtown Stillwater provides craft coffee and a range of higher-end brewing methods. The majority of Stillwater residents are content with standard drip coffee from either their home or one of the other coffee sellers in town. What kind of market does Blue Spruce cater to, compared to these other sellers?
Answer
  • A niche market
  • An income-segmented market
  • A location-segmented market
  • An activity-segmented market

Question 135

Question
Why do many firms that “come in second” resort to the Divide and Conquer strategy when entering the market after a pioneer?
Answer
  • Finding and growing niche markets is a good way to ensure survival
  • Using reviews of the pioneer’s performance allows the second firm to tailor its products/services to better fit needs
  • Not every consumer is generally fully satisfied with the pioneer’s performance
  • All of these are good reasons for Divide and Conquer

Question 136

Question
Rachel’s younger sister is beginning to look at universities she might like to attend. Rachel is extremely interested in having her sister attend Oklahoma State University, but her sister is expressing interest in attending a different Big 12 school. If Rachel begins to mention negative attributes of that other school –things that her sister didn’t previously know –what positioning strategy is Rachel using?
Answer
  • Competitive Repositioning
  • Divide and Conquer
  • Alignment
  • Anti-Alignment

Question 137

Question
Marginal products can still reach excellent market position with good advertising
Answer
  • True
  • False

Question 138

Question
Advertisements that use competitive repositioning can include information about product ingredients, product origin, and firm authenticity (or lack thereof).
Answer
  • True
  • False

Question 139

Question
Which of these is not a reason why a company should try to reposition its product?
Answer
  • The firm becomes a market leader
  • Consumer tastes change
  • Competitors’ product offerings change
  • The overall marketing environment changes

Question 140

Question
What is marketing myopia?
Answer
  • When a firm thinks too narrowly about its products
  • When a firm is too focused on the competition
  • When a firm focuses too much on marketing and not enough on production
  • When marketing fails

Question 141

Question
Anna is a recent graduate, unhappy with her current job. She is looking to re-apply to some companies that she tried to work for previously, and understands that she will need to dress and act much more professionally this time around if she wants them to hire her. If Anna begins to focus on her personal organization, email etiquette, and writing style while applying to jobs, she is essentially _______
Answer
  • Repositioning herself in the minds of potential employers
  • Competitively repositioning herself when compared to her peers
  • Repositioning herself in the minds of her peers
  • Competitively repositioning herself when compared to job incumbents

Question 142

Question
The example of BeneFIT scrubs is an example of
Answer
  • Finding and growing a niche market within an existing market
  • Aligning an unknown product with reputable brands
  • Competing with market leaders head-on
  • Creating a brand-new product

Question 143

Question
What is the definition of the Product/Service Bundle?
Answer
  • The collection of benefits and attributes of a product or service
  • A list of future improvements for a product or service
  • Research on a competitor’s innovation, production, and customer service
  • Selling products and services together (e.g., selling and installing washing machines)

Question 144

Question
The ingredients list on a package of food could best be described as a list of the:
Answer
  • Attributes of the food
  • Benefits of the food
  • Customer Target Segment
  • Market Research

Question 145

Question
The lightweight design of an iPad is an example of:
Answer
  • Add-on Attribute
  • Expected Attribute
  • Core Benefit
  • Design Superiority

Question 146

Question
Consumers buy ________, not _________.
Answer
  • Benefits; Attributes
  • Attributes; Benefits
  • Products; Services
  • Production; Innovation

Question 147

Question
Add-on Attributes can become Expected Attributes over time.
Answer
  • True
  • False

Question 148

Question
Jessie just bought a new TV, and is curious to see how well it performs when it is positioned in her home (she is concerned about glare from the windows). When she evaluates the quality of the picture in her home, what type of attribute of the TV is she evaluating?
Answer
  • Experience
  • Shopping
  • Believability
  • Quality

Question 149

Question
Jake is a photographer looking to purchase a new lens. When he is comparing different lenses before making this purchase, what kind of attribute is he evaluating?
Answer
  • Shopping
  • Price
  • Quality
  • Experience

Question 150

Question
Services are most likely to be judged based on Shopping Attributes.
Answer
  • True
  • False

Question 151

Question
Credence attributes are those attributes that can be evaluated within five years of consuming the product or service
Answer
  • True
  • False

Question 152

Question
What should be the main goal for a marketing manager whose company makes convenience products?
Answer
  • Make the product widely available
  • Make the product high quality
  • Lower the price of the product
  • Run advertisements that use Competitive Repositioning

Question 153

Question
What should a marketing manager whose company makes shopping products do with information about the products?
Answer
  • Make it available and easy for the consumer to find
  • Refrain from publishing so competitors can’t see
  • Publish only the minimum amount of information
  • Ensure salespeople are vague but encouraging

Question 154

Question
In 2014, Porsche released a 50th anniversary edition of its Porsche 911. The company only made a select number of these models, making this a _________ product.
Answer
  • Specialty
  • Shopping
  • Off-market
  • Expensive

Question 155

Question
Durable products are more likely to be Shopping Products than nondurable products
Answer
  • True
  • False

Question 156

Question
Brands tend to be extremely important to consumers purchasing staple products.
Answer
  • True
  • False

Question 157

Question
What is the difference between CPGs and FMCGs?
Answer
  • There is basically no difference
  • CPGs are more likely to be shopping products
  • FMCGs sit on the shelves longer
  • CPGs are picked based on brand awareness

Question 158

Question
What is derived demand?
Answer
  • Demand that comes from the sale of consumer products
  • Demand created and manipulated by advertising
  • An equation to determine the marketing mix
  • Analysis used by managers to research new products

Question 159

Question
Apple mainly sells phones and computers, but also sells accessories for these products. These chargers, protective cases, and other accessories are best described as what?
Answer
  • Support Products
  • Derived Products
  • Raw Materials
  • Convenience Products

Question 160

Question
Starbucks receives a shipment consisting of coffee beans and coffee cups – materials that the store will need in order to sell coffee in the upcoming weeks. What type(s) of business products and services are these products?
Answer
  • Coffee beans are components; coffee cups are support products
  • Coffee beans are support products; coffee cups are components
  • Both are components
  • Both are support products

Question 161

Question
Which of these is not a stage in the life cycle of a successful product?
Answer
  • Innovation
  • Introduction
  • Maturity
  • Development

Question 162

Question
When does the Introduction stage for a product start?
Answer
  • Directly following commercialization
  • When the product is introduced to investors
  • Directly following test completion
  • When warehouses agree to stock the product

Question 163

Question
New technology products and new medications are generally extremely expensive when first released to the market. These companies are using which kind of pricing?
Answer
  • Skimming
  • Penetration
  • Derived
  • Market-driven

Question 164

Question
Why does competition tend to decrease in the Maturity stage of a product’s life cycle?
Answer
  • Weaker competitors leave the industry
  • Monopolies are unavoidable
  • In this stage, the product is no longer valuable
  • Consumers no longer purchase the product

Question 165

Question
Polaroid cameras first broke into the market in the 20th century, and were popular for many years. They fell out of favor with consumers when digital cameras became more popular, but recently Polaroid cameras have seen an increase in sales again. What variation of the product life cycle does this fall under?
Answer
  • Fashion product
  • Fad product
  • Nostalgic product
  • Re-introduced product

Question 166

Question
Amazon, a popular online shopping website, is currently in the beginning stages of expanding its business into the more rural parts of India. Executives are hoping that this will allow Amazon to continue growing and retain its dominance in the industry. What is this expansion an example of?
Answer
  • Modifying markets
  • Modifying the offering
  • Product innovation
  • Customer service

Question 167

Question
When do most companies look to extend the life of their product’s life cycle?
Answer
  • In the maturity phase
  • In the growth phase
  • All throughout the life cycle
  • It is impossible to change the life cycle of a product

Question 168

Question
Profits are both high and unchanging in the maturity stage of the product life cycle
Answer
  • True
  • False

Question 169

Question
The greatest amount of competition exists while in the maturity stage.
Answer
  • True
  • False

Question 170

Question
Which of these is the best example of Product Innovation?
Answer
  • The first iPod compared to a Walkman
  • Gluten-free bread compared to regular
  • Offering the product in new colors
  • Juice marketed as “organic” compared to regular

Question 171

Question
The comparison between the iPhone 7 and the iPhone 6 is best described as an example of _____, and the comparison between the first iPhone and its predecessors is best described as ______.
Answer
  • Continuous Innovation; Discontinuous Innovation
  • Discontinuous Innovation, Continuous Innovation
  • Maturity Stage; Product Development Stage
  • Innovation; Design

Question 172

Question
What is a danger of introducing a Discontinuous Innovation?
Answer
  • Consumers will likely have difficulty learning how to use your product
  • Consumers might find other products that perform the same tasks
  • It is low risk and therefore low in potential rewards
  • Consumers change too quickly and you will get left behind

Question 173

Question
A Protocol statement should identify all of the following except:
Answer
  • The expected initial sales of the product
  • The target market
  • Customer needs, wants, and preferences
  • How the product will satisfy customers

Question 174

Question
Which of these is not part of the New Product Development Process?
Answer
  • Price Gouging
  • Business Analysis
  • Market Testing
  • Commercialization

Question 175

Question
Pioneers in product development are always the most successful
Answer
  • True
  • False

Question 176

Question
What is the goal of Idea Generation? To generate as many ideas as possible To solidify one “best fit” idea To make a short list of feasible products To take all ideas directly to production
Answer
  • To generate as many ideas as possible
  • To solidify one “best fit” idea
  • To make a short list of feasible products
  • To take all ideas directly to production

Question 177

Question
Who is in charge of idea generation?
Answer
  • Ideas come from many places, both inside and outside the company
  • A select, small group of engineers
  • Internal R&D only
  • A research team focused on other firms’ products

Question 178

Question
Idea Generation is primarily concerned with what?
Answer
  • Developing a pool of concepts (ideas)
  • Assessing the practicality of potential products
  • Choosing an idea to pursue
  • Finding new uses for the product
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