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5 Written Questions

5 Matching Questions

  1. In recent years, cellular (mobile) service providers have worked hard to eliminate "dead zones," providing customers with service wherever they traveled. By working to make the network available in more locations, cellular service companies were focusing on __________ value creation.

    a) financial
    b) product
    c) promotion
    d) place
    e) price
  2. In a SWOT analysis, increasing gasoline prices would represent a potential __________ for manufacturers of electric cars.

    a) Threat
    b) Locational advantage
    c) Opportunity
    d) Weakness
    e) Operational advantage
  3. Generational cohorts are groups of people of the same generation who have similar purchase behavior because they have:

    a) similar income levels
    b) the same number of children
    c) shared country culture and ethnic backgrounds
    d) shared experiences, and are in the same stage of life
    e) similar income levels and levels of educational attainment
    f) all of the above
  4. The United States has often been called the "melting pot" society, integrating people from many different cultures into the social fabric of the country. The challenge for marketers is to determine whether a group's culture

    a) competes with or complements U.S. traditional culture.
    b) can be used as a relevant identifier for a particular target group.
    c) is passed from generation to generation orally or by written guides.
    is an important immediate marketing environment variable.
    d) is socially important.
  5. Gender roles:

    a) are a constant cultural norm
    b) are unimportant to marketers
    c) require firms to produce gender neutral advertising for 100 percent of their products
    d) have been blurred in the past several years
    e) are important, and gender boundaries should never be crossed
  1. a d) shared experiences, and are in the same stage of life
  2. b c) Opportunity

    Higher gas prices should make consumers more likely to consider buying electric cars, so this is a positive factor. It is external to the firm since it is beyond the firm's control. An external positive factor is an opportunity
  3. c d) place

    By making sure the mobile network is available to use where and when customers want it, cellular service companies are working on place value creation
  4. d d) have been blurred in the past several years

    Gender roles have been becoming less fixed and more blurred for the last several years, with men and women no longer playing traditional roles. While gender neutral promotion is used far more often today, there are still some products that are marketed primarily to a specific gender
  5. e b) can be used as a relevant identifier for a particular target group.

5 Multiple Choice Questions

  1. a) symbols

    Red, white, and blue colors serve as symbols in this context because they call to mind the U.S. flag
  2. e) decision heuristic
  3. Reference groups

    Celebrities can serve as a reference group, since some consumers like to identify with celebrities and to follow their lead
  4. c) ease of accessing or developing distribution channels and brand familiarity

    Evaluation of profitability considers market growth, market competitiveness, and market access, along with ensuring that the profit margin will be sufficient to cover costs. Market access includes ease of developing or accessing distribution channels, and brand familiarity
  5. 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

5 True/False Questions

  1. In order to effectively communicate value to target markets, marketers must first

    a) understand their customers
    b) redesign ads to meet media specifications
    c) hire the right ad agency
    d) use the Internet
    e) all of the above
    a) understand their customers

    All of these steps might factor into a value communication strategy, but the only one that is necessary in all cases is understanding customers

          

  2. Samantha is charged with assessing for company's external environment as part of a SWOT analysis. Samantha will study her company's

    a) Threats
    b) Opportunities
    c) Stengths
    d) Opportunities and threats
    e) None of the above
    d) Opportunities and threats

    The external components of a SWOT analysis are opportunties and threats

          

  3. In value-based marketing, promotion communicates the

    a) relative market value
    b) targeted solution
    c) value proposition
    d) operational excellence strategy
    e) target market definition
    f) all of the above
    c) value proposition

    The value proposition is the value of the firm's offering, as explained to the target market. Promotion is responsible for communicating this value proposition

          

  4. 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 analysisb) Seniors

          

  5. Stuart wanted to impress Janet with the perfect engagement ring. He had been saving money for months, and he noticed his attitudes and perceptions about diamond rings changing as he began paying attention to ads for rings. Marketers call this process

    a) Self-actualization
    b) A decision heuristic
    c) Learning
    c) Learning

          

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