5 Written Questions
5 Matching Questions
- Which of the following groups has never lived without easy access to cell phones or the Internet?
b) Generation X
c) Baby Boomers
d) Generation W
e) Generation Z
f) None of the above
- In 2006, Ford Motor Company announced it would severely cut back automobile production. For parts companies supplying Ford Motor, this represented a(n):
b) strategic plan
f) all of the above
- Manufacturers who use just-in-time manufacturing systems coordinate closely with suppliers in order to ensure that materials and supplies arrive just before that are needed in the manufacutiring proccess. While just-in-time systems can offer major advantages in terms of inventory costs, they must be carefully managed. If a firm found that its just-in-time system was badly managed, leading to frequent manufacturing delays due to missing parts this would represent a ________ in a SWOT analysis
- Almost all U.S. political candidates use some combination of red, white, and blue in their campaign posters. They are trying to position themselves in voters' minds using:
b) the competition
d) salient attributes
e) all of the above
- Which of the following would not be considered a 'strength' for Starbucks, using a SWOT analysis.
a) Strong brand identity
b) Retail and grocery store network
c) Expansion in China
d) None of the above
- a a) Tweens
'Tweens' is the term for the youngest component of Generation Y, who have had access to cell phones and the Internet all their lives
- b a) threat
For parts companies, Ford's actions represent external factors. A possible cutback in orders is a negative factor. An external negative factor is a threat
- c c) Expansion in China
Expansion overseas is considered an 'opportunity'
- d weakness
The management of the just-in-time system is an internal issue; if it is being done badly, that makes it a weakness
- e a) symbols
Red, white, and blue colors serve as symbols in this context because they call to mind the U.S. flag
5 Multiple Choice Questions
- e) all of the above
Each of these is an option to consider when positioning a product
- b) Opportunities
Expansion of trade agreements is an external factor that could be favorable for firms that can take advantage. An external positive factor is an opportunity
- c) The fastest growing minority population
- Reference groups
Celebrities can serve as a reference group, since some consumers like to identify with celebrities and to follow their lead
- b) This generation puts a strong emphasis on work/life balance and are experts at using various media forms
Generation Y puts a strong emphasis on work/life balance. its youngest members have had access to the Internet for their entire lives, but this is not true of its older members of the generation
5 True/False Questions
Value creation through Place decisions for a consumer product involves
a) designing creative displays to capture consumers' attention.
b) focusing exclusively on internet sales to reduce supply chain costs.
c) making sure the product is available in the stores where customers will want to find it, and that it is always in stock so they can buy it when they want to.
d) pricing products differently at different stores.
e) putting the product in the front of the store. → c) making sure the product is available in the stores where customers will want to find it, and that it is always in stock so they can buy it when they want to.
Value creation through Place has to do with making sure the product is available when and where the customer wants it. Some of the other options (like the creative displays, or putting the product in the front of the store) may cause more consumers to notice the product, but the correct answer is the one that best describes ensuring that the product is available to the customer
After conducting STP analysis for her custom auto parts store and developing strategies for each of the four Ps, Monique now has to make _____________ decisions.
a) Mission statement
b) Resource allocation
c) Competitive response
d) Market growth
e) Product line → e) all of the above
All of these are factors Alexis may use to position her store
Recent advances in technology allow manufacturers, distributors, and retailers to track production, distribution, and sales. These advances help the firm to:
a) increase value to the consumer through media effectiveness promotion
b) tailor their marketing messages
c) communicate with consumers on social media sites
d) replace services with products
e) meet inventory needs → e) meet inventory needs
Some of the other options address ways that technology can help firms communicate with consumers; however, the question asks about members of the supply chain using technology; inventory management is an example of how the supply chain can benefit from technology
Jim wants to position his firm against his competitors. In doing so he should:
a) avoid making the competitor's product look undesirable
b) avoid looking too much like the competitor so that he'd confuse the target segment
c) avoid discussing the strengths of his product so that competitors won't be aware of his product quality
d) never select a competitor in the same neighborhood
e) none of the above → b) avoid looking too much like the competitor so that he'd confuse the target segment
One danger in positioning against competitors is that the firm may end up confusing customers unless a clear distinction is made between the firm's products and those of competitors.
Jacinta manages the shoe department in a large department store. She will probably use ___________ to influence consumers' decisions while in her part of the store.
c) store atmospherics
d) in-store demonstrations
e) all of the above
f) none of the above → e) all of the above