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Quiz 4

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His software is like his competitors software
Joseph is having trouble writing a good positioning statement for the accounting software his company sells. What could be causing Joseph's problem?
Are willing to tailor their products to their particular customer
Customer intimacy refers to companies that
What are your weaknesses?
To write a positioning statement, you should answer all of the following questions EXCEPT
Positioning
Shannon is struggling to communicate who Company ABC is compared to the competition. Shannon wants to communicate that Company ABC's brand has the benefits that the target market will value. Shannon is engaged in what marketing activity?
Is my brand optimally positioned?
In analyzing perceptual maps, one questions always on the marketer's mind is
Product category
The USP concept captures the
Similar
Brands depicted as points in the map close tighter are those perceived as
Perceptual Map
Marketers and senior managers like to see graphical depictions of where their brands and their competitors' brands are in their customers' minds. What are these called?
The five brands are viewed as most interchangeably by consumers
Dom is reviewing a perceptual map that compares a number of jeans brands based on customer survey data. Five of the eight brands are depicted as points close together on the map. A logical conclusion Dom can draw from this perceptual map is
Succinctly, a number of audiences
Once a company has decided upon its positioning, either for the corporation as a whole, or for one of its brands, it must be able to communicate __________ the parameters of that position to __________.
Positioning involves which of the marketing mix variables?
Product, price, place, promotion
Be perceived
A positioning statement captures how you want to
The second customer segment is seeking more to do on their holiday and is not concerned about price
Which of the following is NOT true based on this perceptual map?
Unique Selling Proposition
What do the letters of USP represent
High quality product, high price, light promotion, exclusive channels
If you want to sell unique wristbands to the 250 participants in a special boating event to raise funds for research for a rare disease, which of the following strategies would you select?
Serious body builder
Who is the target segment for the Aplhatronics positioning statement: "We at Alphatronics are the gym for the serious body builder."
Low price, low quality, wide availability, heavy promotion
Which of the following positioning combinations makes the most sense?
Holes
__________ in perceptual maps offer(s) intriguing possibilities for new market opportunities.
Identity
Positioning is mostly about
Are good at production, delivery, price, and convenience
Operational excellence refers to companies that
Company
Which of the following is one the 5C's
High quality, low price, heavy promotion, exclusive channels
Your company manufactures several different basic appliances that are suitable for young adults establishing their own homes for the first time. Which of the following strategies would you use?
Heavy promotion and low availability
Which of the following combinations should be avoided?
He can probably achieve either of these goals, but not both
A CEO is considering how he wants his company to be positioned. He has thought of it as the coolest brand and the brand with the best value. Which of the following is true about his predicament?
Move a lot of merchandise
If a company promotes broadly and heavily, it is probably looking to
Image
When you are writing a positioning statement, if you don't have real differences and cannot see a way to create them, then you can create a difference based on
Have no meaning to
A positioning statement will __________ customers who are not addressed in the statement.
People in segment 1 refer to Tesla or Prius to Lincoln or Lexus
Which of the following is NOT true according to this perceptual map?
Pride themselves on quality and innovation
Product leadership refers to companies that
Intangible
When writing a positioning statement, it is a good idea to abstract from the level of the brand's attributes to the __________ benefits to the customer.
Unique Selling proposition
Jen is developing the positioning statement for a new line of sunglasses. In a meeting, the marketing team tells Jen that she has succinctly and clearly expressed the competitive advantage of the new sunglasses brand. The team approves of the way Jen wants to express the brand's competitive advantage, and tells her to continue her work on fully developing the positioning statement. Which element of crafting the positioning statement has Jen's team just approved?
Overly promoting it
If a brand has an exclusive image, it would make good sense to avoid
Communication with external audience
A positioning statement can be a foundation for
Recency, frequency, monetary
CRM programs are tools used by companies to track spending by collecting information, such as customer identification and contact information, and some form of information on the RFM of the customers' purchase history. What does RFM represent?
Market Share Data
Which of the following is NOT typically in a CRM database?
Estimates of retention rate average lifespan of particular products
The time inputs we need for CLV include
Not the same thing
Quality and satisfaction are
A better bottom line
Research shows that satisfied customers result in
Benchmarks
CRM programs are tools used by companies to track spending by collecting information, such as customer identification and contact information, and some form of information on the RFM of the customers' purchase history. What does RFM represent?
Acquisition Costs
Bic Inc. has a new ad to attract new customers. This ad is categorized as a(n)
Athletic-Shoes
Which of the following is a higher-invovement purchase?
Number about money, time, and financing finesse
Customer lifetime value assessments involve which three types of components?
Higher purchase intentions
Scoring models are traditionally comprised of three factors. Which of the following is NOT one of them?
Expectations are not in line with the company's goal
Jim and Denise are executives at Jetsetters, Inc., a plane-sharing business. As they review the results of their recent customer satisfaction survey, Jim generally notices that responses fall into three outcomes. Which of the following outcomes is NOT one of the three outcomes on Jim's mind?
A consumers own experience
The most trusted source of expectations is
Low-involvment
For __________ purchases, the comparative evaluation process may be nearly instantaneous and quickly forgotten.
Experience
Evan visits a travel website to book a trip to Europe. While he is fairly certain he has selected good flights and exciting destinations, he cannot fully evaluate his trip until he actually arrives. The components of Evan's trip can best be described as __________ goods.
When implementing plans to create CRM databases
When can marketing become operational?
The line will extends customer lifetime value with Honda
Honda offers a line of cars from less expensive to more expensive. What is Honda's goal with regard to this line?
Search, experience, credence
Comparing a purchase to expectations occurs when the item purchased is comprised primarily of __________ characteristics.
Value
__________ is defined as the trade-off of the quality of the purchase received compared with the price paid and other costs incurred.
Points of interaction
The VP of Customer Experience at an international hotel chain is constantly looking for ways to improve customer service, whether it be at check-in, room service, concierge services, check-out, etc. This is important because customers generally evaluate companies and brands based on
Awareness, trial, repeat, loyalty
The hierarchy of customer behavior is
High-involvement
For __________ purchases, the comparative evaluation process is typically quite deliberative and conscious
Individualistic
__________ cultures are more likely to be satisfied when the quality of reliability and service provider responsiveness are strong.
90
Verizon uses the RFM matrix to determine its most valuable customers. Recency is weighted at a 3, frequency is weighted at a 9, and monetary is valued at a 7. Customer A has a score of R=1, F=5, M=6. What is Customer A's RFM score?
Estimates of company
The money inputs we need for CLV include all of the following EXCEPT
Bad it increases dissatisfaction
If the core part of the purchase is
Can change or remain the same
Retention rate ___________ over time
Who we trust
When we have a situation where we do not have much experience with a brand, we seek people
Credence
Susan visits the office of a local attorney to have a will drawn up. She has never hired an attorney before, but thinks that this particular attorney is doing a good job based on his professional demeanor and fancy office. Susan's hiring of the attorney is best described as a __________ purchase.
Search
Mary visits her local shopping mall to purchase some much needed additions to her wardrobe. In selecting the items she wants to purchase, Mary is concerned primarily with factors such as color, size, style, and price. Clothing items can best be described as __________ goods.
Positioning claims made in advertising and suggestions of quality based on the price of a product
Information originating from the marketing mix of a company that contributes to a consumer's expectations may include
Core and Service
What do customer evaluate when they make a purchase?
Purchase intentions
Chase and Nathan are in charge of tracking customer evaluations for their employer. They are considering which measure to employ to track customer evaluation data. There are many measures that capture customer evaluations. Which of the following is one of the measures?
Experimental
As Quentin checks out of a hotel, he recalls the expectations of quality and service he had upon arriving at the hotel and realizes that based on those expectations he is not thrilled with his experience. The type of purchase by Quentin is best described as