MKT Final AQ
If black and Decker sells power tools to customers through the retailers Home Depot and Lowes along with selling directly to customers from their website, which of the following is NOT accurate regarding the resolution to the type of conflict regarding that might exist across or within these channel structures?
(could be vertical or horizontal conflict) - offer black and decker as well as home depot the same features on items so they can compete directly on pricing to the consumer.
If techno cafe tries to use an effects model to a traditional hierarchy of effects model to plan their communication activities, which of the following would not be accurate?
(think,feel,do) - awarness, associated with think
Which of the following is NOT a benefit of segmentation for organizations?
- Segmentation makes marketing more convenient (segmenting makes marking more complex)
As a company is working on their next search engine marketing campaign, which of the following is NOT accurate regarding the marketing effort?
- companies are not allowed to bid on other comapnies names or brands
Which of the following choices is not consideration from the depth of a product time?
- trialability of the product line
A techno cafe is preparing their marketing campaign for next year. Their chief marketing executive and chief financial offering have various approaches from budgeting. For marketing communications, which of the following is NOT an accurate statement regarding setting the marketing budget?
-advertising sales ratio is with bottom-up approach
All of the following media would be techno cafes' owned media excpet:
-techno cafe advertising inserts included in local and college newspapers (thats not owned media)
All of the following statements correctly differentiate B2B (business-to-business) markets from B2C (business-to-consumer) markets, EXCEPT:
B2B markets are more frequently characterized by fixed pricing.
Which of the following is the best term for purchase decisions in which consumers consider (or attempt to consider) all of the attributes that are relevant, making trade-offs between and among those attributes?
Compensatory Decision Making
Which of the following is NOT required to achieve a customer-centric culture?
Cost
We discussed 5 attributes of offerings that can help us understand the rate of adoption and innovation by target customers that can enable or hider adoption. Which of the following is not one of those factors?
Factors that affect adoption: 1.complexity 2.trialability 3. relative advantage 4.compatibility 5.observability answer: convenience
Assume that Park Paper Products believes its customers typically use satisficing decision making when purchasing paper products. Which of the following would likely be the least effective market strategy?
Focus advertising on the technical reasons why products are best-in-class
From an HBP reading: "A(n) ________ lays out a campaign that aims to fulfill a company's market strategy. At the business unit or product level, this document aims to transform a product or service concept into a successful offering that meets the needs of target customers and fulfills the company's expectations for sales, market share, and so forth. This document states exactly what the company will do in launching new products and supporting older ones. It indicates the timing of sales and promotional activities, pricing intentions, and distribution efforts. It also includes how all of these activities will be 'controlled' (updated/modified as the situation changes) and how results will be measured."
Marketing Plan
A successful manufacturer of brew coffee makers now intends to design and manufacture a commercial-quality espresso machine. While it will be able to leverage many of the same parts featured in its brew coffee makers, it must start buying water pressurizers for the new espresso machines. Given this information, the manufacturer will most likely be engaged in which of the following types of purchases when buying water pressurizers?
New Task
There are four categories of customer benefits in B2B (business-to-business) markets. Which of the following categories would include the benefits of vendor trustworthiness and conscientiousness, such as the vendor going the extra mile to get a delivery to the buyer on time, that the buyer can rely on as they gain experience with the vendor?
Noneconomic, intangible benefits
Tiffany & Co. is an American luxury jeweler headquartered in New York City. In the late 1980s, Tiffany & Co. ventured into the fragrance business by adding luxury perfumes to its product mix. Although perfumes are distinctly different than jewelry, both product categories appeal to the same target market. Which of the directives for customer-centric branding strategies does this most closely represent?
Plan brand extensions based on customer needs, not component similarities
Which of the following does the marketing process of segmentation, targeting, and positioning (STP) NOT address?
Potential competitors
For a segmentation to be useful, it must meet several criteria. Which of the following is NOT among these criteria?
Profitable
Which of the following is NOT one of factors we analyze as part of understanding the marketing environment (Context from the 5 Cs in the Situation Analysis).
Psychographic
The product team for the Swifter Wet Jet mop at Proctor & Gamble is developing a research plan to investigate the next product opportunity in household cleaning products. Currently, it plans to use research collected from when it developed the Wet Jet, a survey study conducted by the Household & Commercial Products Association, and qualitative research conducted earlier this year by the American Cleaning Institute, along with 2020 U.S. Census data scheduled to be published later this year. Which of the following did they use?
Secondary Data only
Which of the following represents the most significant risk to companies using a mass-marketing approach?
They may lose customers to niche marketers
If you had been asked to be a marketing consultant for a company and wanted to use the Marketing Strategy Formation Process (the process I situate us within at the beginning of each class), which of the responses below best captures that approach?
Three interrelated elements: analysis, decisions, & outcomes; where decisions can be broken down into two types: aspiration decision and action plan decisi
We discussed how the concept of customer centricity fits three ways into an organization. Which of those ways below includes identifying and defining how customers attempt to maximize their perceived value (greatest benefit at lowest cost)?
Understanding the Customer
As we look to measure the return on digital marketing investment and start by focusing on the category of measurement associate with message delivery, which of the folowing is not a category of that message?
answer: time spend on our website(measurement of user experience)
Suppose you were considering creating a smartphone app start-up platform to help people identify great, affordable family experiences and help family-centric destinations market themselves to this type of target market. Before seeking investment money, assume you have decided to use Porter's Five Forces Framework to determine how attractive of a business this might be. Which of the following is NOT one of the correct forces?
availability of complements
The process of collecting and using detailed information about individual customers during all of their points of contact between a buyer and a seller is referred to as __________.
customer relationship management
Trencilo is a company "dedicated to the design, manufacture, and commercialization of braided and twisted threads, laces, shoelaces, strings, elastic, and technical threads in different finishes for footwear, leather, draperies, and other uses." Trencilo sells to footwear manufacturers such as Nike and Merrell. Thus, as customers buy more shoes from those brands, sales of Trencilo's laces also increases. We refer to this connected activity as:
derived demand
Conjoint analysis is an approach used to achieve preference-based segmentation by:
forcing customers to make trade-offs between pairs of offerings with different attributes
Which type of marketing strategy best exemplifies a straightforward mapping of a customer's willingness to pay?
good, better, best strategy
BirtchBox, a monthly subscription service bringing popular beauty and retail products, spends alot of theri digital marketing efforts on investments to ensure that their online retail website can be found when their customer are looking of their bueauty products and services. We would refer to this type of broad digital marketing element as:
inbound marketing
When a firm begins to charge high fees for additional services to unprofitable customers, it has determined that the _________ of those customers is too low to warrant the added efforts to maintain a relationship with them.
lifetime value
Founded in 2012, Hedley & Bennett (H&B) produces aprons and kitchen gear for commercial and home use. They claim to be on a mission to inspire and empower creativity and confidence in the kitchen. From the beginning, they have been focusing on making handcrafted items that best meets its customers' needs (i.e., performance, fit, fashion, & versatility) and continues to evolve its designs as it gets feedback from customers. Based on this information, it is arguable that H&B has a(n) __________:
market orientation because it focuses on identifying and satisfying customers' needs
Imagine that you own a company that produces all types of bags (tote, messenger, backpack) for consumers to order online. You realize that a key component of the value you can provide is the ability to customize each bag and the overall experience for individual customers, given the amount of knowledge you can gain about the customers' preferences and the digital tool customers use to build their bags. We call this targeting approach:
one-to-one marketing
In choosing a basis for segmentation, marketers may ask "Who," "What," and "Why" questions about their customers. "What" variables focus primarily on customer:
purchase behavior
Specialty retailers like Restoration Hardware, L.L.Bean, and Anthropologie make heavy use of direct mail catalogs. Such catalog marketers typically segment their markets based on three factors, each of which describes the nature of different customers' past purchases and correlates well with future purchases. Abbreviated as RFM, the factors are:
recency, frequency, & monetary value
In the context of presenting benefits to customers, marketers should use a(n) __________ model, which involves demonstrating a deep understanding of customers' needs and differentiating or highlighting offerings on the few elements that matter most to target customers.
resonance focus
A firm should consider three key factors when choosing a target segment, including not only the external factors of competition and segment characteristics but also the firm's internal:
resources and competencies
All of the following parties are members of a decision-making unit EXCEPT a(n):
service provider decision-making unit: -users -buyers -approvers -gatekeepers
