5 Written questions
5 Matching questions
- When evaluating the attractiveness of the segment, if a segment is expected to react positively to the firm's offering, we say that the segment is
- Karen has identified four potential market segments for her Rent-A-Chef home meal catering service. The next step is to:
a) develop a positioning strategy
b) decide on a targeting strategy
c) categorize each market segment by consumer demographics
d) establish her overall objectives
e) evaluate the attractiveness of each segment
- When senior citizens or recent immigrants are pressured to take out loans they cannot pay back (often containing high fees, hidden costs, and higher rates of interest), these are referred to as:
a) predatory loans
b) consolidated loans
c) opportunistic financing
d) low yield loans
e) prime rate loans
- When Starbucks first opened, many critics suggested, "No one will pay $4.00 for a cup of coffee." Starbucks' critics suggested consumers would not be __________ to the company's offerings
- The way a product is presented can influence the decision-making process. Along with brand and price, this is known as:
a) A determinant attribute
b) The demonstration effect
c) A decision heuristic
d) An evoked set
e) Product leverage
- a d) evaluate the attractiveness of each segment.
After identifying potential market segments, the next step is to evaluate attractiveness of each segment
- b responsive
A segment is responsive if its members react similarly and positively to the marketing mix. Early critics did not believe that consumers would respond positively to the offer of a $4 cup of coffee
- c a) predatory loans
The loans provided by predatory lenders, which target vulnerable consumers, are referred to as predatory loans
- d c) A decision heuristic
Product presentation is a decision heuristic--a shortcut to simplify and shorten the decision process.
- e responsive
For a segmentation strategy to be successful, the customers in the segment must react similarly and positively to the firm's offering. This is referred to as a responsive segment.
5 Multiple choice questions
- value proposition
- Reference groups
Celebrities can serve as a reference group, since some consumers like to identify with celebrities and to follow their lead
- b) perceptions
The cultural differences between Americans and Indonesians have led to different perceptions of the meaning of the swastika symbol
5 True/False questions
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.
e) price → 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
Google and other search engines allow marketers to bid to have their ads shown when consumer search on keywords related to the firm's products. These marketers are attempting to create value through
f) All of the above → Generation X
After assessing the market growth potential and market competitiveness for his company's baby products in Mexico, Harmon wanted to evaluate market access. To do this, Harmon would consider:
a) the current size of the market and the expected growth rate
b) ease of pricing control and number of promotional outlets
c) ease of accessing or developing distribution channels and brand familiarity
d) the number of competitors, entry barriers, and product substitutes
e) all of the above → 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
Which of the following would be classified as a 'weakness' of McDonald's, using a SWOT analysis.
a) Global retail store network
b) Customers nonacceptance of McCafe
c) Future sourcing sustainability
d) Price elastic target market → c) Expansion in China
Expansion overseas is considered an 'opportunity'
Astute marketers recognize that the increasing disparity of income between upper- and lower-
a) will create inflationary expectations.
b) will vanish once the recession ends.
c) creates opportunities to provide value to each group.
d) will disappear as ethnicity becomes a stronger cultural determinant.
e) is attributable to technological expertise of immigrant groups. → c) creates opportunities to provide value to each group.
Upper-income, middle-income, and lower-income individuals are all consumers, and all can be offered value in different ways.