Hussain Exam 2 (New)
Terms in this set (90)
Which of the following is true for business marketers?
They deal with fewer and larger buyers than consumer marketers.
Ultimately, the amount of steel sold to General Motors depends on the consumers' demand for GM cars and trucks. From the standpoint of the steel manufacturer, which of the following demand forms is most pertinent?
The demand for business goods is ultimately derived from the demand for ________.
Sometimes a rise of only 10% in consumer demand can cause as much as a 200% rise in business demand for products for the next period. This is an example of ________.
Shoe manufacturers are not going to buy much more leather if the price of leather falls, nor will they buy much less leather if the price rises, unless they can find satisfactory substitutes. This is an example of ________.
The business buyer has to make the fewest decisions when involved in a ________.
Orica Inc. competes in the market for commercial explosives. The company recently changed its business model from just selling explosives to managing an entire blast in a quarry. This customer-solution-based approach to the sale of explosives is an example of ________.
Xerox offers a ________ approach to prospective clients when it offers a complete turnkey solution, including the operation and management of the client's information and communication need.
If you performed the role of the ________ in a buying center, you would be the person that has the power to prevent sellers or information from reaching other members of the buying center.
When purchasing disposable surgical gowns, Mercy Hospital's vice president of purchasing analyzes whether the hospital should buy disposable gowns or reusable gowns. If the findings favor disposable gowns, then the operating-room administrator compares various competitors' products and prices and makes a choice. Surgeons influence the decision retroactively by reporting their satisfaction with the particular brand. In this situation, the surgeons perform the role of the ________.
In which of the following is a person performing the role of a gatekeeper?
LKG gets many calls from potential suppliers, and it is Leah's job to weed out the good prospects and refer them to others in LKG.
A new-task buyclass decision begins with which of the following steps?
With respect to e-procurement, Coca-Cola, Sara Lee, Kraft, PepsiCo, P&G, and several other companies joined forces to form a ________ called Transora to use their combined leverage to obtain lower prices for raw materials.
With respect to e-procurement, which of the two types of e-hubs are Web sites organized around?
vertical and functional hubs
The relationship between a company and its office supplies vendor where competition rather than cooperation is the dominant form of governance is probably best described as ________.
In the ________ category of buyer-supplier relationship, although bonded by a close, cooperative relationship, the seller adapts to meet the customer's needs without expecting much adaptation or change on the part of the customer in exchange.
customer is king
The ________ market consists of schools, hospitals, nursing homes, prisons, and other institutions that must provide goods and services to people in their care.
In most countries, ________ are the major buyers of goods and services. They typically require suppliers to submit bids and often award the contract to the lowest bidder.
Which of the following statements about market segmentation is true?
It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.
The process of selecting one or more market segments to enter is called ________.
Hilton Hotels customizes rooms and lobbies according to location. Northeastern hotels are sleeker and more cosmopolitan. Southwestern hotels are more rustic. This is an example of ________ segmentation.
When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes, equipment, and clothing to many of them, Nike is using which of the following marketing formats?
If a marketing manager segments the market into culture-oriented, sports-oriented, or outdoor-oriented groups, he or she is segmenting on the basis of ________.
Robert is the owner of an automobile manufacturing company. He calls for a board meeting and tells his directors that he wants to build a car that lets the users experience power and exhilaration. He tells them that the car must allow his users to soar from 0-60 mph in about 4 seconds. He also adds in that the price of the car must be affordable enough for any man making a good salary. In accordance with the given scenario, Robert is trying to segment the market on the basis of ________.
Pampers divides its market demographically on the basis of ________ into prenatal, new baby, baby, toddler, and preschooler.
Jose and Erika have just divorced. Which of the following demographic segmentation subsegment formats might be used by marketers to reach Jose or Erika?
Which of the following statements about Gen Yers is true?
They are selective, confident, and impatient.
________ is the science of using psychology and demographics to better understand consumers.
Dennis requests his father to buy him a PlayStation® for his birthday. With respect to consumer decision roles, which role is Dennis currently playing?
A marketer is interested in segmenting a business market based on urgency of delivery and the size of the order. Which of the following major segmentation variables would the marketer most likely use to assist with the task?
In the ________ step of the market segmentation process, the marketer evaluates the segment using criteria such as market growth and market access.
In the ________ step of the market segmentation process, the marketer determines which demographics, lifestyles, and usage behaviors make each needs-based segment distinct and identifiable.
According to the ________ criterion for useful market segments, a segment should be the largest possible homogenous group worth going after with a tailored marketing program.
To meet the ________ criterion of useful market segments, it must be possible to formulate effective programs for attracting and serving the segments.
If married and unmarried women respond similarly to a sale on perfume, these hypothetical segments fail the ________ criterion for useful market segments.
In ________ marketing, the firm ignores segment differences and goes after the whole market with one offer.
Brand ________ is the added value endowed to products and services.
________ is the differential effect that brand knowledge has on consumer response to the marketing of that brand.
Customer-based brand equity
When a consumer expresses thoughts, feelings, images, experiences, beliefs associated with the brand, the consumer is expressing ________.
When a marketer expresses his or her vision of what the brand must be and do for consumers, they are expressing what is called ________.
a brand promise
Identify the four pillars of brand equity, according to brand asset valuator model.
energized differentiation, relevance, esteem, and knowledge
Christian Louboutin is a footwear designer who launched his line of high-end women's shoes in France in 1991. Since 1992, his designs have incorporated the shiny, red-lacquered soles that have become his signature. These red- lacquered soles and high stilettos of Louboutin distinguish him from other designer shoe brands. In accordance with the brand asset valuator model, which of the following components of brand equity has Louboutin fulfilled in the given scenario?
Christian Louboutin is a footwear designer who launched his line of high-end women's shoes in France in 1991. The brand caters to an elite clientele whose satisfaction with the brand has always been evident. Apart from being high-end, Louboutin footwear signifies power in elite social circles. Celebrities are often seen sporting "Loubs" at special occasions, such as movie premieres. This has resulted in people associating Louboutin footwear with class and power. In accordance with the brand asset valuator model, which of the following components of brand equity has Louboutin fulfilled in the given scenario?
According to the brand asset valuator model, which of the components of brand equity measures the breadth of a brand's appeal?
According to brand asset valuator model, energized differentiation and relevance, the two pillars of brand equity combine to determine what is called brand ________.
Which of the following levels of the brand dynamics pyramid pertains to consumer's needs?
A consumer who expresses rational and emotional attachments to the brand to the exclusion of most other brands has reached the ________ level in the brand dynamics pyramid.
According to the BRANDZ model of brand strength, brand building involves people progressing through a sequential series of steps. Which of these steps would address or answer the question "Can this brand deliver?"
Which of the following "building block levels" corresponds to the branding objectives of points-of-parity and difference?
performance and imagery
The brand name of New Zealand vodka 42BELOW refers to both a latitude that runs through New Zealand and the percentage of its alcohol content. From a marketing management perspective, which of
the brand equity drivers is most applicable in the given scenario?
the associations indirectly transferred to the brand by linking it to a place or thing
________ are devices that can be trademarked and serve to identify and differentiate the brand.
If a brand element can be used to introduce new products in the same or different categories, the brand element is said to be ________.
Apple's ipod shuffle is an example of ________.
Two advantages of ________ are that they can facilitate new-product acceptance and provide positive feedback to the parent brand and company.
All marketing strategy is built on STP - segmentation, targeting, and ________.
The goal of positioning is ________.
to locate the brand in the minds of consumers to maximize the potential benefit to the firm
The ________ defines which other brands a brand competes with and therefore which brands should be the focus of competitive analysis.
competitive frame of reference
Philip Morris bought Miller brewing and launched low-calorie beer at a time when consumers had the impression that low-calorie beer does not taste as good as normal beer. What does the company assure by stating that the beer tastes good?
Philip Morris bought Miller brewing and launched low-calorie beer at a time when consumers had the impression that low-calorie beer does not taste as good as normal beer. What did the company try to build when they conveyed the fact that the beer contained one third less calories and hence it is less filling?
Nivea became the leader in the skin cream class on the "gentle", "protective" and "caring" platform. The company further moved into classes such as deodorants, shampoos and cosmetics. Attributes like gentle and caring were of no value unless consumers believed that its deodorant was strong enough, its shampoo would cleanse and its cosmetics would be colorful enough. This is an example of ________.
Subway restaurants are positioned as offering healthy, great-tasting sandwiches. ________ allows the brand to create a point-of-parity (POP) on taste and a point-of-difference (POD) on health with respect to quick-serve restaurants such as McDonald's and Burger King and, at the same time, a POP on health and a POD on taste with respect to health food restaurants and cafés. This is an example of ________.
BMW positioned itself as the only automobile that offered both luxury and performance. At that time, consumers saw U.S. luxury cars as lacking performance. It was able to achieve a point-of-difference on performance and a point-of-parity on luxury with respect to U.S. luxury cars like Cadillac. This is an example of ________.
Tums claims to have the most acid-reducing components of any antacid. In what way is the brand's category membership being conveyed?
announcing category benefits
SJC is a new retailer that targets the youth market. SJC needs to make an impression using advertising, and decides to use funny or irreverent ads to get its point across. Each ad features one of SJC's competitors and conveys an advantage SJC has over that competitor. Which of the following is the company using to convey its membership in the retail segment?
comparing to exemplars
When Tommy Hilfiger was an unknown brand, advertising announced his membership as a great U.S. designer by associating him with Geoffrey Beene, Stanley Blacker, Calvin Klein, and Perry Ellis, who were recognized members of that category. Tommy Hilfiger conveyed the brand's category membership by ________.
comparing to exemplars
________ is a company's ability to perform in one or more ways that competitors cannot or will not match.
Singapore Airlines is well regarded in large part because of the excellence of its flight attendants. This is an example of ________ differentiation.
Dayton, Ohio--based Iams found success selling premium pet food through regional veterinarians, breeders, and pet stores. This is an example of ________ differentiation.
As the marketing manager of a company that manufactures floor tiles, Evans Smith is given a target to achieve 500 new customers by the end of summer. He decides to search the market for probable customers who might use the product but do not at present. Which of the following strategies is Evans pursuing to increase the market demand for his product?
A marketing manager has planned a strategy that will require the organization to erect outposts to protect its weak front-running brands. In this ________ defense, the outposts will be central to the organization's new competitive strategy.
Aron, a company manufacturing snack food and soft drinks, replicates its product taste and packaging from Lay's, a market leader in the snack food industry. Later, it sells these imitated products on the black market. This is an example of ________.
As a market follower strategy, the ________ emulates the leader's products, name, and packaging, with slight variations.
A customer judges a product offering by three basic elements: product features and quality, services mix and quality, and ________.
The five product levels constitute a ________. At each level more customer value is added.
Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he/she expects the shoes to cover his/her feet and allow him/her to walk unobstructed. This is an example of what level in the consumer-value hierarchy?
Because ________ are purchased frequently, marketers should make them available in many locations, charge only a small markup, and advertise heavily to induce trial and build preference.
Products such as insurance, cemetery plots, and smoke detectors are examples of ________ that are products that the consumer does not know about or does not normally think of buying.
________ is the ability of a company to prepare on a large-scale basis individually designed products, services, programs, and communications.
Buyers expect products to have high ________, which is the degree to which all the produced units are identical and meet the promised specifications.
When the physical product cannot be easily differentiated, the key to competitive success may lie in adding valued services and improving their quality. The main service differentiators are ordering ease, delivery, installation, ________, customer consulting, maintenance, and repair.
Smith & Adams Poultry has recently upgraded its transactional model such that its customers (restaurants and hotels) can communicate with its central supply system to indicate purchase volumes, dates, and receive confirmation, through their computer terminals. This is an example of a company differentiating itself versus competition in terms of ________.
Happy Home Products produces detergents, toothpaste, bar soap, disposable diapers, and paper products. This company has a product ________ of five lines.
A consumer products firm manufactures and sells over 200 different sizes and varieties of jams and jellies. We can say that this manufacturer's product mix has high ________.
What occurs when any company lengthens its product line beyond its current range?
A manufacturer of hiking boots looks at data that indicate that their subsegment of the market called "serious hiker" is declining and is predicted to decline into the future. The firm decides to enter the "low-price" segment with its new items. This is an example of a firm's ________ to reach a new market.
Companies normally develop ________ rather than single products and require sellers to establish perceived quality differences between price steps within it.
Betty Crocker cake mixes using Hershey syrup in its cake mixes and "Lunchables" lunch combinations with Taco Bell tacos are examples of what special type of branding?
________ is a special case of co-branding involving creating brand equity for materials, components, or parts that are necessarily contained within other branded products.
The ________ of a product mix refers to how many variants are offered of each product in the line.
If the Ford GT is designed to accelerate to 50 miles per hour within 10 seconds, and every Ford GT coming off the assembly line does this, the model is said to have high ________.
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