Marketing exam 2 questions

Nike's most popular running shoes are found in running shops and sporting good stores. This uses a ____________ distribution strategy. A. Selective B. Intensive C. Exclusive D. None of the above

(A) selective

the "maturity" phase of the product's lifecycle most closely aligns with which quadrant of the BCG product/market mix? (A)cash cow (B)star (C)question mark (D)dog

(A)cash cow

cost-based pricing starts with which step? (A)design a good product (B)set price (C)convince buyers of product's value (D)determine product costs

(A)design a good product

back-office electric bill: fixed or variable cost? (A)fixed (B)variable

(A)fixed

nightly cleaning service: fixed or variable cost? (A)fixed (B)variable

(A)fixed

office manager salary: fixed or variable cost? (A)fixed (B)variable

(A)fixed

according to the article you read about vehicle product life cycle, in which phase are companies most likely to put customers on the waiting list to buy a car? (A)introduction (B)growth (C)maturity (D)decline

(A)introduction

which line lengthening strategy does the launch of Banana Republic & Old Navy represent? (A)line stretching (B)line filling

(A)line stretching

a convenience product involves frequent purchasing, little planning, little shopping effort & _________ (A)low customer involvement (B)high customer involvement (C)strong brand preference D)low product awareness

(A)low customer involvement

in 1992, Mattel's "totally hair Barbie" helped the company bounce back after a few years of slowly declining sales. By diversifying its product in order to max sales & profits, Mattel was hoping to keep he Barbie Doll in the ___ stage of its product life cycle a little longer. (A)maturity (B)introduction (C)product development (D)decline

(A)maturity

kellogg's Frosted Flakes is an example of a _____ Brand Sponsorship strategy. (A)national brands (B)store brands (C)licensing (D)co-branding

(A)national brands

Experiential retailing may be considered as part of a retailer's ______________ decisions. A. Product B. Price C. Promotions D. Place

(A)product

Citibank sets up tables all over college campuses to give away rewards to students for completing new credit card applications. What type of promotions mix strategy is this? A. Push B. Pull C. Neither D. Both

(A)push

while the design details may have changed over the years, single family houses have been described as "colonial," "ranch," & "bi-level" for over 50 years. These descriptions represent different _____ of houses. (A)styles (B)fashions (D)fads

(A)styles

based on the article you read, how does Ritz-Carlton measure the success of its relationships with employees? (A)voluntary turnover (B)average tenure (C)hiring rates (D)satisfaction levels

(A)voluntary turnover

according to the article you read, movie theaters have added more upgrades and enhancements (e.g. reclining seats, new food choices, new screens, new sound systems) to justify higher ticket prices. This is an example of _______ pricing. (A) Good Value Pricing (B) Value-Added Pricing (C) Break Even Pricing (D) Competition-Based Pricing

(B) Value-Added Pricing

based on the article you read, which step of "strategic intuition" is the hardest to achieve? (A)taking in examples from history (B)achieving presence of mind (C)gaining a flash of insight (D)putting your plans into action

(B)achieving presence of mind

which brand development strategy does KFC nail polish represent? (A)line extension (B)brand extension (C)multibrands (D)new brands

(B)brand extension

In the article you read, which of the following is NOT an example of IKEA's unique customer experience? (A)cafeteria (B)cheap prices (C)playground (E)kiosks

(B)cheap prices

during the "maturity" phase of the product's life cycle, what is typically a company's market objective? (A)reduce expenses & milk the brand (B)defend market share (C)expand/max market share (D)create product awareness

(B)defend market share

price elasticity measures the sensitivity of ___ to changes in price. (A)competition (B)demand (C)strategy (D)market share

(B)demand

market offerings which have elements of both a product & services, & focus on how they make customers feel are called ____(A)core customer values (B)experiences (C)specialty products (D)line stretching

(B)experiences

after the 1959toy show, sales of the Barbie Doll took off, selling out the inital line of 50,000 & over a million outfits. Given this rate of unusually high sales & rapid popularity, many thought the product was a _______ (A)fashion (B)fad (C)product concept (D)style

(B)fad

the new product development process takes a new product from _____ to ____. (A)idea generation to test marketing (B)idea generation to commercialization (C)idea screening to commercialization (D)concept development to test marketing

(B)idea generation to commercialization

which phase of the product life cycle is marked by slow sales growth, heavy investment, no profits, & few competitors? (A)product development (B)introduction (C)growth (D)maturity (E)decline

(B)introduction

BMW offer a 2-series model starting at $36K, a 4-series model at $44k, & a 7-series model at 84k; what strategy does BMW take to growing this product portfolio? (A)line widening (B)line filling (C)line stretching (D)line segmentation

(B)line filling

"line stretching" means lengthening a product line by _____(A)adding more products within existing product range (B)making new products for upper or lower class users (C)increasing brand preferences (D)merging with other brands

(B)making new products for upper or lower class users

what type of product is Gap clothing? (A)convenience (B)shopping (C)specialty (D)unsought

(B)shopping

which of the following is NOT a characteristic of service marketing? (A)inseparability (B)tangibility (C)perishability (D)variability

(B)tangibility

styles, fashions, & fads are defined as sales over _____ (A)costs (B)time (C)buzz (D)demand

(B)time

sales commission: fixed or variable? (A)fixed (B)variable

(B)variable

which product level relates to the physical attributes of the product itself? (A)core customer value (B)experiences (C)actual product (D)augmented product

(C)actual product

customer value-based pricing starts with which step? (A)setting the target price (B)determine product costs (C)assessing customer needs & value perceptions (D)designing a product that can be delivered at a target price

(C)assessing customer needs & value perceptions

one criticism of cost-based pricing is that it ignores ______. (A)the break-even point (B)fixed costs (C)customer needs & value perceptions (D)actual product costs

(C)customer needs & value perceptions

during which phase of the product's life cycle do we see rapid market acceptance, increasing profits, & a growing number of competitors? (A)product development (B)introduction (C)growth (D)maturity

(C)growth

The day after researching hotels in Orlando on Orbitz, I visited USAToday.com and was targeted with ads for Disney World. This is an example of which digital marketing targeting criteria? A. Contextual Relevance B. Geography C. Interest-Based D. Technical Criteria

(C)interest-based

according to the article you read about vehicle product life cycle, in which phase are companies most likely to engage in a competitive price & promotion war to gain sales? (A)introduction (B)growth (C)maturity (D)decile

(C)maturity

launching a new brand name in an existing product category describes which type of brand development strategy? (A)line extension (B)brand extension (C)multibrands (D)new brands

(C)multibrands

"Search Engine Optimization" (SEO) is the process of optimizing your site to rank high in which area of the Search Engine results pages for targeted keywords? A. The page overall B. Paid results C. Natural Results D. Knowledge graph

(C)natural results

a/ _____ product is purchased based on a strong brand preference, loyalty, special effort, little comparison of brands, & low price sensitivity. (A)convenience (B)shopping (C)specialty (D)unsought

(C)specialty

The delivery, installation, warranty, & tech support you receive from Best Buy after buying a TV relates to which product level? (A)core customer value (B)experiences (C)actual product (D)augmented product

(D)augmented product

the differential effect that knowing the brand name has on customer response to a product is called _____ (A)brand value (B)interactive marketing (C)external marketing (D)brand equity

(D)brand equity

today, declining demand for the Barbie Doll has forced Mattel to lower its prices & phase out unprofitable items. This is indicative that it may be entering the ____ stage of its product life cycle. (A)maturity (B)introduction (C)growth (D)decline

(D)decline

in the early 1960s, the Barbie Doll had rapid market acceptance & could be found in a growing number of stores. This represents which phase of its product life cycle? (A)maturity (B)introduction (C)product development (D)growth

(D)growth

increasing the number of products a company sells in a given category is called ____ its product line (A)broadening (B)shrinking (C)expanding (D)lengthening

(D)lengthening

in what new product development stage does the R&D department typically develop a realistic, working prototype? (A)idea screening (B)concept development (C)market strategy development (D)product development

(D)product development

The same TV commercial nationally aired twice during an episode of "Scandal" that was viewed by 9 million people. What was the frequency of the TV commercial during this period? A. 2 B. 9 million C. 18 million

A. 2

An advertising campaign is seen by 2 million people, 3 times each. What is the reach of the campaign? A. 2 Million B. 3 C. 6 Million

A. 2 Million

Now that you've learned about Advertising and Public Relations, which tool do you think gives Marketers more control to influence communications content and audience response? A. Advertising B. Public Relations

A. Advertising

Which digital media targeting criteria is in use when a Honda ad appears next to an article about the 2016 Auto Show? A. Contextual Relevance B. Technical C. Demographics D. Campaign Criteria

A. Contextual Relevance

Based on the article you read, what pricing strategy was RolPal most likely using when it charged $189? A. Customer value-based pricing B. Global pricing C. Cost-based pricing D. Competition-based pricing

A. Customer value-based pricing

According to the AdAge article you read, the business models of consulting and creative agencies are _______. A. Growing B. Globalizing C. Converging D. Declining

A. Growing

Setting a low introductory price to attract a large number of buyers is called __________ pricing. A. Market-penetration B. Market-skimming C. Competition-based D. Cost-plus

A. Market-penetration

TD Ameritrade runs print, television, and online banner ads to promote the program. What type of media is this? A. Paid B. Earned C. Owned

A. Paid

Finally, local TD Ameritrade offices reached out to top customers in each local market to encourage them to participate. This represents which promotional tool? A. Personal Selling B. Sales promotion C. Advertising D. Public Relations

A. Personal Selling

Given away for free to parents at a table inside of Babies R Us, this empty toddler container is an example of what type of consumer sales promotion? A. Sample B. Price pack C. Advertising Specialty D. POP Promotion

A. Sample

Categorized by the amount of service offered, a TJ Maxx store is most likely considered what type of retailer? A. Self-Service B. Limited Service C. Full Service D. None of the above

A. Self-Service

This major media type offers an emotional appeal to all the senses... but has high absolute costs: A. Television B. Newspaper C. Magazines D. Radio E. Outdoor

A. Television

The gap between the sale price and the consumers' perceptions of value represents _____________. A. The consumers' incentive to purchase B. The company's profits C. The company's incentive to sell D. Consumer demand

A. The consumers' incentive to purchase

According to the article you read for class, physical retail stores are still relevant and important, for all of the following reasons EXCEPT: A. They perform well, in the absence of an online store B. They are places for product pickup and returns C. They are showrooms D. They are shipping centers

A. They perform well, in the absence of an online store

True or False? A PR manager might be involved in the development of a firm's annual report targeted to financial investors. A. True B. False

A. True????

Programmatic media buying is a movement toward the _______ of media buying. A. Measurement B. Automation C. Integration D. Mobilization

B. Automation

Which of the following is NOT a common paid media scheduling option? A. Pulsing B. Buzzing C. Continuity D. Flighting

B. Buzzing

If price is inelastic, _____ does not change much when price doubles. A. Satisfaction B. Demand C. Market share D. Competition

B. Demand

The winners of TD Ameritrade's program are featured on The TODAY Show. This represents what type of media? A. Paid B. Earned C. Owned

B. Earned

Walmart delivers coupons via its mobile app when the device comes within 500 feet of one of its stores. This is an example of what tactic? A. Indoor proximity systems B. Geo-Fencing C. Registration Data D. GPS targeting

B. Geo-Fencing

A "Push Strategy" is most likely to favor which of the following promotional tools? A. Public Relations B. In-Store Displays C. Television Advertising D. Billboard Advertising

B. In-Store Displays

Presenting a clear, concise message by carefully integrating and coordinating the company's many communications channels is known as __________________________. A. Integrated Promotions B. Integrated Marketing Communication C. Omnichannel Marketing D. Push Strategy

B. Integrated Marketing Communication

This major media type offers flexibility, timeliness, good local market coverage, broad acceptability and high believability... but it has poor reproduction quality and a short life: A. Television B. Newspaper C. Magazines D. Radio E. Outdoor

B. Newspaper

Which of the following most closely fits the definition of a category killer? A. Costco B. Party City C. Five Below D. Abercromie + Fitch

B. Party City

Which advertising budgeting method is based on forecasted revenue? A. Affordable method B. Percentage of Sales Method C. Competitive-Parity method D. Objective and Task method

B. Percentage of Sales Method

P&G has a different sales force for each business unit (e.g. baby care, beauty care, household, etc.). This is an example of what type of sales force structure? A. Customer B. Product C. Geographic D. Territorial

B. Product

According to your article, London luxury restaurant Bob Bob Riccard is experimenting which type of price adjustment strategy? A. Segmented Pricing B. Promotional Pricing C. Geographic Pricing D. Dynamic Pricing

B. Promotional Pricing

What price adjustment strategy did RolPal most likely use when it increased its price from $189 to $365? A. By-product pricing B. Psychological pricing C. Promotional pricing D. Dynamic pricing

B. Psychological pricing

To encourage program participation, TD Ameritrade could have provided a coupon code to customers who use the hashtag #itaddsup. This would represent which promotional tool? A. Personal Selling B. Sales promotion C. Advertising D. Public Relations

B. Sales promotion

Which advertising execution style shows typical people using product in a normal setting? A. Lifestyle B. Slice of Life C. Mood / Image D. Fantasy E. Personality Symbol

B. Slice of Life

An app developer only wants its ads to reach iPhone users. Which digital media targeting criteria is this considered? A. Contextual Relevance B. Technical C. Demographics D. Campaign Criteria

B. Technical

Most of McDonald's restaurants worldwide are owned and operated by franchisees. This represents what type of distribution channel (marketing channel) system? A. Conventional marketing system B. Vertical marketing system C. Horizontal Marketing sytem D. None of the above

B. Vertical marketing system

According to the article you read, Google and Facebook together account for ____% of digital advertising budgets in 2017? A. 43% B. 53% C. 63% D. 73%

C. 63%

To make the community aware that this program exists, TD Ameritrade purchased television commercials. This represents which promotional tool? A. Personal Selling B. Sales promotion C. Advertising D. Public Relations

C. Advertising

A successful native advertising campaign is typically __________. A. Disruptive B. Overlaid on top of site content C. Designed to look like it belongs on the page D. Seen only by consumers who opt-in

C. Designed to look like it belongs on the page

Based on the BBH article you read for class, which of the following is now believed to be true regarding an ad's Messaging Concept and Message Execution? A. Concept is more important than Execution B. Execution is more important than Concept C. Execution and Concept are highly linked and equally important D. Neither one is as important as your segmentation

C. Execution and Concept are highly linked and equally important

H&R Block uses all of its advertising budget for tax season. This is an example of what type of media timing? A. Continuity B. Frequency C. Flighting D. Pulsing

C. Flighting

One advantage of Radio as an attractive paid media option it that it is ______. A. Fleeting B. Not selective C. Low cost D. Fragmented

C. Low cost

A company's mobile app is most likely considered what type of media? A. Paid B. Earned C. Owned D. Shared

C. Owned

TD Ameritrade creates a microsite, Twitter page, and Facebook page that provide content related to the program. A. Paid B. Earned C. Owned

C. Owned

"SEO" stands for ________. A. Search Engine Organic B. Search Earned Organic C. Search Engine Optimization D. Search Editorial Overlook

C. Search Engine Optimization

Why is digital marketing such an important part of the promotions mix? A. High consumer usage of digital media B. Its impact on the way consumers shop C. Its ability to reach customers in new, interactive ways D. All of the above

D. All of the above

Based on the article you read for class, a salesperson's "customer engagement" level doesn't just mean spending more time with them. What else does it include? A. Number of meetings with them B. Friendliness C. Revenue they generate D. Depth of relationship

D. Depth of relationship

According to the same article, Facebook is expected to chip away at Google's market share thanks to the growth of ________ and _________. A. Instagram and WhatsApp B. YouTube and Snapchat C. WhatsApp and Video D. Instagram and Video

D. Instagram and Video

What is the only major medium that is expected to grow in time spent, from 2016-2018? A. Television B. Newspaper C. Desktop / Laptop D. Mobile E. Radio F. Magazines

D. Mobile

From a Marketing perspective, which is the preferred budgeting process? A. Affordable method B. Percentage of Sales Method C. Competitive-Parity method D. Objective and Task method

D. Objective and Task method

The package shipping industry is dominated by a few large competitors: US Postal Service, Fedex, and UPS. This is an example of __________. A. Pure competition B. Pure monopoly C. Monopolistic competition D. Oligopolistic competition

D. Oligopolistic competition

According to the article you read, "A(n) _____________ approach puts the customer, not corporate silos, at the center of its strategy." A. Advertising B. Multichannel C. Digital Video D. Omnichannel

D. Omnichannel

This giant Nutella display in a grocery store is an example of what type of consumer sales promotion? A. Sample B. Price pack C. Advertising Specialty D. POP Promotion

D. POP Promotion

If TD Ameritrade's goal was to increase its overall favorability among their customers and greater community, this program best represents a focus on which promotional tool? A. Personal Selling B. Sales promotion C. Advertising D. Public Relations

D. Public Relations

To stay competitive, Sir Martin Sorrell argues that advertising agencies must stay focused on _______ and ___________. A. cost savings ; consulting services B. declining TV ratings ; technology C. consulting services ; technology D. innovation ; brand

D. innovation ; brand

Which major media type do you think is the largest, in terms of annual revenue? A. Television B. Newspaper C. Magazine D. Radio E. Outdoor F. Direct Mail G. Digital

G. Digital