490 test 2

______ is an offshoot of ROMI that was developed to apply the same principles to customers.

ROCI

ABC Automobile Manufacturers is the leading brand in economy cars with respect to gas mileage. If ABC wanted to start making hybrid vehicles under the same brand name, the company would likely be successful because of its previous product offerings. This is an example of linking the ________ benefit of brand equity to marketing strategy.

brand connections

The probability of a product's success is determined in the ________ stage of the product development process.

business case analysis

The early majority represents a good portion of total product sales. Generally this group needs to be ________.

convinced of the product's claims and value proposition before making a commitment

CRM helps in determining which customers to target based on known or learned characteristics that will drive growth. This describes which of the three CRM objectives?

customer acquisition

Xie Zang is considering buying a new car. Because she had a good experience with her previous car from XYZ Motors, she determines that a car from XYZ Motors will best meet her current needs. This is an example of the brand ________ role in customer purchase decisions.

education

Above all, the purpose of the package is to promote product purchase.

false

Durable products such as televisions and microwave ovens have a shorter product life than nondurable products such as health and beauty products.

false

Marketing dashboards display information in numerical formats and offer subjective feedback about initiatives and results.

false

Product definition has three objectives: define the product's value proposition, identify the key suppliers of raw materials and the nature of those markets, and define the product's characteristics.

false

The administration of information security when using CRM is part of the marketing manager's job.

false

The more cobranded products a company has, the stronger its brand image because of the increased exposure of the brand to the public.

false

Marketers have two key communications strategic decisions: the degree to which marketing communications focuses on a single product, and the allocation of budget money across product items in a product line.

false?

The brand name "Bailey's" is used for a variety of products including liqueur, coffee creamer, and candies. This is an example of a ________ strategy.

family

Pricing strategy is related to product line strategy. Often multiple price points are targeted at specific markets with unique features following a ________ product line strategy.

good, better, best

Having too many internal metrics puts the focus on what a company already knows and fails to put the focus on the unpredictably dynamic external marketplace. Which pitfall of marketing dashboards does this represent?

overreliance on inside-out measurement

After months of in-home research, Kraft discovered that its customers often transferred Chips Ahoy cookies to jars to keep them from going stale. The company solved this problem by creating a patented resealable opening on the top of the bag. This is an example of the ________ objective of package design.

protection

Cost reduction is a specific method for introducing lower-cost products to the market. This may involve ________.

reducing features

How is the growth stage of the product life cycle (PLC) characterized with respect to sales revenue and profitability?

sales begin to decline

Elba's new blouse had a label that said it was guaranteed not to shrink or fade as long as it was dry cleaned and not hand-washed. This is an example of a ________ warranty.

specific

When a sales representative calls on a customer, or a call comes in to the customer service center, these are called customer ________.

touchpoints

A customer's equity with a brand is the difference between the perceived benefits and costs associated with the brand.

true

A point-of-sale system is an example of a customer touchpoint.

true

Brand identity is a summary of unique qualities attributed to the brand.

true

Goods incorporated directly in a manufacturer's process are called materials (either natural products or farm products) or parts (either fully assembled or components).

true

Marketing managers are a core contributor to the success of CRM by virtue of their expertise on customers and relationships

true

Return on marketing investment (ROMI) is the impact an investment in marketing has on a firm's financial success.

true

Trial purchase is a key focus in product launch because if you can get customers to try a new product, you can win them over with superior product design, features, and value.

true

Warranties do little to inform the customer about perceived product quality and manufacturer commitment to customer satisfaction.

true

When the Chicago police are investigating a crime, they use video from posted cameras, verbal accounts from eyewitnesses, text from social media, and video and audio from police officers' body cameras. What feature of Big Data is BEST represented here?

variety