38 terms

BUSML 450 - Practice Exam 2

When Chanel moved beyond apparel into fragrance, shoes, handbags, etc., they were increasing their product ____.
a. depth
b. breadth
c. Both A and B
d. equity
e. None of the above
A brand is forever; therefore, it is impossible to destroy brand equity.
True or False
all of the above
Thinking about the qualities of a great brand, an example of a great brand would be:
a. Coke
b. Apple
c. Disney
d. Sony
e. All of the above
an endorsed brand
In naming, if you wish to provide some distance between the parent brand and the individual product brand but still have both of them mentioned, you should use _____for the product.
a. a corporate brand
b. an endorsed brand
c. a licensed brand
d. a store brand
e. an extended brand
a corporate brand
In naming, if you wish to focus attention on the manufacturer or parent company, you should use _____.
a. a corporate brand
b. an endorsed brand
c. a licensed brand
d. a store brand
e. an extended brand
When AAA moved beyond roadside assistance and into auto insurance, it was ___ its brand.
a. shrinking
b. minimizing
c. maximizing
d. extending
e. C and D
product mix
The complete set of all products offered by a firm is called its product assortment or:
A. product line.
B. product categories.
C. product mix.
E. product line depth.
A(n) ________________ is a name, symbol, design, or term that identifies a seller's good or service as distinct from those of other sellers.
B. product line
C. supply chain
D. commodity
E. brand
ease of entry and market opportunity
Manufacturers, like Proctor & Gamble, are always considering expansion or contraction of product lines as part of their marketing strategy. P&G's decision whether to expand their product lines will be influenced by industry factors, such as:
A. ease of entry and market opportunity.
B. pricing power and firm competency.
C. promotional discounts and logistical support.
D. customer core competency.
E. whether the industry is dominated by a few or many players.
distinctively identify one sellers goods or services from competitor's offerings
The primary purpose of a brand is to:
A. sell advertising space.
B. minimize SKUs needed to be effective.
C. distinctly identify one seller's goods or services from competitors' offerings.
D. protect product packaging.
E. meet government regulations.
strategic stubbornness
Examples of _____ discussed in class include POM juice and Barbie.
a. Dying brands
b. Strategic Stubbornness
c. Opportunities missed
d. A and B
e. All of the above
you are not that smart and don't have all the answers
In innovation, it is important to listen to customers because
a. otherwise they will complain to you
b. you are not that smart and don't have all the answers
c. they are the best product designers
d. you should pretend you care about what they say
e. they have funny ideas that make you laugh
non-incumbent firms
Disruptive innovations are more likely to come from
a. incumbent firms
b. non-incumbent firms
c. established firms in the industry
d. A and B
e. None of the above
early majority and late majority
In the innovation diffusion model, the first two groups to get a new type of product are
a. Innovators and early adopters
b. Early adopters and early majority
c. Early majority and late majority
d. Late majority and laggards
e. Innovators and laggards
New product development adds value to a firm's products and services through:
A. early majority substitution.
B. innovation.
C. removal of laggards.
D. pioneer pretesting.
E. conceptual intermediate beta testing
relative advantage
Inkjet personal computer printers rapidly replaced earlier poor quality dot-matrix printers. Inkjet printers gained rapid acceptance in the marketplace primarily because of their:
A. relative advantage.
B. compatibility.
C. observability.
D. complexity.
E. trialability.
During the _____________ stage of the product life cycle, sales are low and profits are small or negative.
A. introduction
B. Leveling
C. maturity
D. growth
E. decline
Many businesses are a mix of product and service. Which of the following is the most service-focused example?
a. Hotel
b. Specialty shoe store
c. High-end restaurant
d. Insurance
e. Healthfood store
time warner cable
Companies who are well respected for their customer service include all but
a. Marriott
b. Amazon
c. Southwest
d. Nordstrom
e. Time-Warner Cable
Doctor's office
Along the service-product continuum, which of the following would be the most service dominant?
A. Grocery store
B. Apparel specialty store
C. Doctor's office
D. Bookstore
E. Restaurant
intangible inseparable variable perishable
The marketing of services differs from product marketing because services are:
A. not profitable by themselves for most firms.
B. indivisible, distinct, customized, and rationalized.
C. reliable, assured, empathetic and able to be made tangible.
D. empowered, use technology, reduce service gaps and provide incentives and support.
E. intangible, inseparable, variable, and perishable.
communications gap
When there is a significant difference between the service customers receive and what the firm promotes, the firm has a ____________________.
A. knowledge gap
B. standards gap
C. social expectations gap
D. delivery gap
E. communications gap
Of the alternatives for advertising appeals, which of the following is most used in Super Bowl ads?
a. Informative
b. Rational
c. Humorous
d. Drama
e. Price
A ___ indicates percentage of the total US households with the tv on that tuned to a show or ad
a. share
b. rating
c. GRP
d. TRP
e. A/S
An example(s) of a product-focused ad during the recent Super Bowl would be all but:
a. Doritos
b. VW
c. GE
d. H&M
e. Dannon
he should first identify his target audience to make ads effective
Greg owns and operates an art gallery and framing shop. He had a great sense of design and layout - one of the things that makes his business so successful. He knows he can create a visually effective ad for the shop with great copy and had already done three different mockups. You know him will, and as a marketer you'd like to caution him that:
A. ad creative and copy should be separated to ensure objectivity and that the fit between them will be appropriate.
B. saving a little money here will help him purchase more effective media placements.
C. he should first identify his target audience to make the ads effective.
D. the creative elements will make excellent ads, especially since he has fairly edgy tastes.
E. he may have to translate the ad into other languages to make it accessible to more people.
to inform persuade or remind customers
All advertising objectives are designed to achieve certain objectives:
A. meet the needs of society.
B. to inform, persuade, or remind customers.
C. to comply with FCC rules combined with FTC antitrust regulations.
D. to the push and pull of social norms.
E. to match production scheduling with consumer demand.
If marketers want to have the members of the distribution channel emphasize a product, especially at the retail level, they will use a ____________ promotional strategy.
A. channel
B. supply chain
C. marketing chain
D. push
E. pull
When a product has gained a certain level of brand awareness, firms use _______________ advertising to motivate consumers to take action.
A. informative
B. persuasive
C. institutional
D. discussive
E. reminder
unique selling proposition
The _____________________ communicated by advertising needs to be unique to the brand, meaningful to the customer, sustainable over time, and supportive of repetition.
A. pull strategy
B. push strategy
C. sustainable competitive promotional advantage
D. subliminal marketing message
E. unique selling proposition
media mix
When Microsoft introduces a new version of its Windows operating system, they typically use selected magazine, Internet, and direct mail advertising. This combination of advertising outlets represents Microsoft's:
A. niche buy.
B. advertising plan.
C. media mix.
D. track testing.
E. supply chain messaging.
customer relationship management
Among most salespeople, CRM stands for
a. Consumer Ratio Margin
b. Custom Reality Manager
c. Customer Relationship Management
d. Consumer Relationship Manager
e. Customer Ration Margin
both C and D
Potential advantages of many sales positions include
a. low pay and financial rewards
b. inflexible lifestyle
c. many CEOs come from the sales career track
d. being out of the office a lot
e. Both C and D
salespeople can customize their message for a specific buyer
One of the advantages of personal selling over other types of marketing communications is:
A. salespeople can customize their message for a specific buyer.
B. it almost always costs less than other marketing communication alternatives.
C. it has greater reach than advertising.
D. cold calling is easier than direct mail advertising.
E. there aren't as many ethical considerations as long as the sales rep is productive.
closing the sale is the final and most satisfying part of the process
Although a sales representative may skip a step in the Personal Selling Process, or he or she may have to go back and repeat steps, there is a logic in the sequence. Which of the following would NOT be appropriate in the Personal Selling Process?
A. Before a salesperson can work through the preapproach, he or she must have qualified the leads.
B. The customer's reservations must come before closing the sale.
C. Closing the sale is the final - and most satisfying - part of the process.
D. Carefully working through the preapproach will make the next step - the sales presentation - more effective and efficient.
E. Follow-up may include additional sales for the representative.
prior to meeting the customer for the first time
The preapproach stage occurs ______________________ and extends the qualification of leads procedure.
A. after the sales presentation
B. prior to meeting the customer for the first time
C. before closing the sale but after follow-up
D. after closing the sale but before follow-up
E. at the beginning of the sales presentation
generate and qualify leads
________________ stage in the personal selling process corresponds to the need recognition stage in the B2B selling process.
A. Generate and qualify leads
B. Preapproach
C. Sales presentation
D. Closing the sale
salespeople interact directly with customers
While ethical and legal issues are associated with all aspects of marketing, personal selling presents unique issues because:
A. salespeople tend to be unethical.
B. sales managers are the only people in most sales organizations who worry about ethics.
C. salespeople interact directly with customers.
D. laws regulating personal selling are detailed, complex and often mistakenly ignored.
E. customers often tempt the sales representatives.