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Marketing Exam #2

Terms in this set (40)

which would be more useful to evaluate in regards to PLC?
Google Pixel
Cellular devices
Samsung Galaxy
iPhone x
Cellular Devices
A consumer purchases new windows for his/her home to replace the original windows put in when the house was built, this could be an example of what type of benefit?
The actual window
Product
Resource benefit
Sensory benefit
Resource benefit
The font used to spell iPhone is
Brand Mark
Brand
Brand name
brand equity
brand mark
where does idea generation fall within the product development process?
Conceptualization
Commercialization
Concepts
Planning
Conceptualization
Yeti's slogan "built for the wild" is building a brand image by
through leadership
around the customer
how or when the product is used
by identifying key benefits
by identifying key benefits
a consumer purchased a winter coat because the inside lining was made of a soft material. One type of benefit that was purchased was
the product
the resource benefit
the coat
sensory benefit
sensory benefit
Swiffer dusters can now be bought with the scent of febreze. this is an example of what strategy
Co-brand
brand image
brand partnership
process of branding
co-brand
where does a flip phone user fall in the bell curve of innovation
Laggards
Non-adopters
early adopters
innovators
laggards
how many groups are there in the diffusion of innovation
3
6
4
5
5
the spoken word iPhone is
brand mark
brand
brand name
brand equity
brand name
Jordan had been working diligently to gather as much information as possible about the stores where his firm might put their new line of sports apparel. He was trying to assemble all the criteria he could think of to test each of the stores, but he was feeling more confused than he had been at the beginning. When he was explaining his frustration to Sam over coffee, Sam said, "You're going at the this the wrong way. There's only one question you need to answer." What is that one question?
Does the brand belong in a particular retail store?
Which store is not already carrying the competitor's products?
Which store's margins are the most attractive?
Which store will carry the merchandise without having to pay an allowance
does the brand belong in a particular retail store
When you feel you just have to have a piece of chewing gum, you know there will be a vending machine or many different kinds of stores where you can get a pack of gum quickly and without much thought. The chewing gum company selected an intensive distribution strategy because
- they know margins will be low, and they look for locations that will not be expensive in which to place the product
- they want a consistent brand image of a product anyone can afford
- they want to be in as many locations as possible to close out as many competitors as possible
- they recognize this is the industry standard practice, and they see no reason to depart from it
they know margins will be low, and they look for locations that will not be expensive in which to place the product
When Stephen began working at a children's apparel company, he had very firm opinions about specific retailers, including setting his own rules about where he would shop. As he worked, he found he actually enjoyed meeting and working with counterparts in these retailers, which caused him to soften his opinions. This reflect which fundamental element of supply chain relationships.
-Business relationships are developed by people not companies.
-Conflicts arise because of preconceived ideas.
-A person should not be judgmental about people he or she works with.
-A person should not bring his or her personal opinions into work.
business relationships are developed by people not companies Manu
manufactures can stimulate demand for their products by creating promotions with the understanding that
competitors cannot match the promotion
strategies aren't working and tactics are required
these promotions may indicate to others in the supply chain a change in the firm's objectives
retailers will pass on some of the price savings to customers
retailers will pass on some of the price savings to customers
Heather was a marketing intern in a large manufacturing firm, and she was attending a meeting to examine how to streamline entire process of getting raw materials to the firm and the finished goods to market. Several of the other participants were talking about "marketing intermediaries," and she was not clear who or what these are. Who are the "marketing intermediaries" that were the focus of this discussion?
- marketing and advertising agencies retained by the firm
- sales agents used by the firm's suppliers
- transportation firms bringing materials to the firm
- wholesalers and retailers
wholesalers and retailers
Dawn's marketing director urged her to give special attention to several of the retailers buying her firm's product. He even suggested they might take some short-term losses if necessary. Why would the marketing director decide to do this?
-He was concerned that damaging the retailers might lead to lawsuits from them.
-He was concerned that if the firm were seen as being too strict or too firm, it might be seen as unethical.
-He knew that if he drove even a few of the firms to bankruptcy, his firm would end up losing money.
-He felt that if the retailers do well, it will benefit Dawn's firm in the long run.
He felt that if the retailers do well, it will benefit Dawn's firm in the long run.
Crystal saw a new brand of salsa being promoted online, and it was getting great reviews. She couldn't find it anywhere in her area, so she began a campaign using social media to convince grocery retailers to start carrying this new brand. This is an example of what kind of retail strategy?
-Social-media action strategy
-Word of mouth strategy
-Push strategy
-Pull strategy
pull strategy
A firm is producing luxury desk sets—letter openers, pencil cups, etc. They are beautifully made, and they are made of rare and expensive materials. When the firm is developing its Place strategies in the marketing mix, what kind of distribution intensity would the firm select for these products?
-premium
-exclusive
-intensive
-selective
exclusive
What happens in an administered vertical marketing system when different levels of power between two parties is significant
- within a short period of time the administered VMS will evolve into cooperate VMS
- the weaker party can protect itself with a franchise agreement
- companies may be dependent on each other, but the benefits are not equally distributed
- regardless of the safeguard established in the design of the system, the strong party can essentially do what it wants to do
companies may be dependent on each other, but the benefits are not equally distributed
Paul and Marcus were planning the launch of a new product line for their firm, and they both got enthusiastic about breaking out of the traditional selling they had been doing using wholesalers to sell directly to the consumers using their website. They had checked with everyone associated with the operations of the website, it was relatively easy to do. They needed to get approval from the CMO because the company would be taking on the new role of
- supply chain manager
- wholesaler disintermediation
- marketing intermediary
- direct retailer
direct retailer
for an exchange to take place, a marketer knows that
- both the buyer and seller see value being created in the exchange
- the buyer must know exactly what he or she is receiving
- competitors cannot match the total offering
- money needs to change hands
both the buyer and seller see value being created in the exchange
rick has solid information about the internal costs, volume, and objectives he needed to set prices for the next year. before he can set prices, he also needs to understand what is going on in the market in general. he will examine the competitor's overall pricing and he will need to research consumer demand for the products to know how the size of the total market and
- the competitors' break even points
- the actual sales for the past three years
- the impact of changing demographics
- the demand for his product
the demand for his product
Some companies will drop prices to a point where competitors may question their motives. Although federal law prohibits predatory pricing and similar actions, the situations are rarely prosecuted because it is difficult to prove and
-primary jurisdiction is often with the states
- the fines are so low its not worth the effort
- consumers gain from artificially low prices
- few lawyers are qualified to prosecute or defend charges in this area
primary jurisdiction is often with the states
Damon is developing a marketing plan for the product he is managing. what calculation will he use to determine how many incremental sales he will have to make if he increases advertising efforts by three different amounts
- unit contribution
- total variable costs
- break even analysis
- total fixed costs
break even analysis
all of the following are considered variable costs except,
- sales commissions
- manufacturing costs per unit
- expected unit sales
- sales promotion costs
expected unit sales
while it is relatively easy to determine variable costs as they are linked to the units produced, fixed costs are more difficult to determine as
- depreciation on fixed assets can vary with accounting practices
- there are no formulas to work with
- they must cover all the expenses of the firm and it may be difficult to get accurate estimates
- much of the information is confidential and not readily available to the marketer
they must cover all the expenses of the firm and it may be difficult to get accurate estimates
the product life cycle curve can help marketers determine pricing. in general, as a product matures, the price will go down as
- competitors exit the market
-inelastic prices are now becoming more elastic
- all profits have been realized in a product, and the firm is moving to harvest the remaining value
- costs to make the product go down as it matures
cost to make the product go down as it matures
Simon is reviewing the marketing department's budget and expenses and some figures would not fit easily into fixed or variable costs categories. Paul gave him an easy way to distinguish between the two, which was to determine
- if the costs are linked to things that cannot be easily moved, then they are fixed expenses
- if the costs are part of the marketing mix, then they are variable costs
- if it is a cost associated with headquarters, then it is a fixed cost
- if the cost can be assigned on a per unit basis, then it is a variable cost
if the cost can be assigned on a per unit basis, then it is a variable cost
Chris and Lynn were watching sales slumping for their line of extensive, exotically-scented candles, and they had narrowed down their options to adjusting price. Chris suggested the best thing to do would be to raise prices. Lynn thought Chris wasn't thinking clearly but increasing prices to stimulate sales for luxury items is known as
- enhanced value-based pricing
- dynamic pricing
- prestige pricing
- reverse pricing logic
prestige pricing
Maya is setting prices for her home remodeling business. Over the course of the year, there are times of peak activities—such as pre-holidays—and times when consumers were not as interested in home remodeling. This is an issue throughout the industry, so she knows it isn't just her business. After she determines a base price for the service, she could stimulate demand during the slow periods by using
- discounts
-premium pricing
- no cost consultations
- bundling
discounts
digital media provides the means through which brands and customers connect with one another. which are the techniques by which marketers use digital media to build these connections
- integrated marketing communications
- Digital media tools
- SEO and SEM
- earned media
digital media tools
which information on a company's website will best help reassure customers uncertain about making a purchase
- detailed pictures of the product
- detail of product features
- customer reviews
-contact information for reporting problems
customer reviews
how does digital media contribute to the viability and success of omnichannel marketing
- By immediately sharing customer contacts, both positive and negative, on the company's website and social media sites.
-By delegating younger employees to engage with influencers on the company's social media sites.
-By utilizing the interconnected and interactive nature of digital media to create a seamless messaging experience.
-By using traditional media to drive traffic to the company's website and social media sites.
by utilizing the interconnected and interactive nature of digital media to create a seamless messaging experience
which is the best approach for marketers to take regarding online reviews?
- they should not monitor reviews as it discourages honest discourse
- they should always maintain inside control of the monitoring function
- they should monitor them but take no active role in facilitating them
- the should invest in monitoring and encouraging positive online reviews
they should invest in monitoring and encouraging positive online reviews
how is qualitative research relevant to online reviews?
- it is applicable only in rare situations
- many standard analytic techniques can be applied to the written content of online reviews
- given the propensity of reviewers to say negative things, analysis of reviews is not directionally sound
- due to its highly subjective nature, standard analytic techniques are not useful in analyzing online reviews
many standard analytic techniques can be applied to the written content of online reviews
how does a company's website relate to its overall brand identity
-The website is the digital projection of the look, feel, and theme the company wants to communicate as its brand identity.
-It must be clear, consistent, and compelling to match the company's overall IMC messaging.
-The website landing page must include all the relevant brand identifiers: name, logo, slogan, etc.
-It is typically the first interaction a potential customer has with the company.
the website is the digital projection of the look, feel and theme the company wants to communicate as its brand identity
what is a major advantage of digital media over traditional media as it relates to increasing levels of consumer demand for immediate and personalized attention?
- it can be tailored to the individual consumer
- it is more widely accepted by millennial and generation z consumers
- it creates immediate and interactive connections
- it matches the increased reliance on mobile devices to stay connected
it creates immediate and interactive connections
______ is/ are a major concern surrounding mobile devices and QS tracking tools
- low rates of diffusion
- privacy issues
-costs
- current lack of functionality
privacy issues
with the development and maturity of Digital marketing, which of the following statements is true
- branding is less important now than it was in the past
- brands control the conversation with customers
- integrated marketing communications is less important now than it was in the past
- brands no longer control the ways in which customers connect with them
brands no longer control the ways in which customers connect to them
______ tangibly connect customers and brands, serving as a focal point for repeated communication and interaction
- smart watches
- smart speakers
- mobile apps
- social media sites
mobile apps
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