BCOR 350

When considering the four levels of a product, _________ is about meeting the immediate needs of the consumer and the _________ is more long term in orientation.

. Core Product, Promised Product

The number of positive shares of Ikea's online postings was _______thousand

125

Lorna Davis is credited with adapting Oreos that resulted in being the number one cookie within ____years?

2

Ikea's campaign generated a global reach of ________million.

200

Which of the following is NOT considered a competitive to OutBound?

All of the above are not competitors to OutBound

Marketers talk about four levels of a product. The product that is supported by a host of services and part of the consumption experience is referred to as the:

Augmented Product

"To determine which inputs are most useful, companies may employ which strategic planning tools to help simplify, organize, and focus inputs and possible strategy options? Select all that apply."

BCG, SWOT, downes three forces planning model

Things that are purchased by other industries or firms as part of their production process are referred to as

Business product

in a ______ approach, the firm targets one or more market segments and develops separate offers for each segments.

C. Differentiated

_____________assumes that consumers with similar age, occupation, social class will exhibit similar purchasing patterns, motivations, interests and lifestyles and that these characteristics will translate into similar product/brand preferences.

Demographic segmentation

All of the following would represent an effective marketing objective for a company EXCEPT:

Developing an exciting and fresh new marketing campaign

The business model canvas attempts to answer all of the following questions except which of the following?

Does the target market have sufficient resources to allocate for the product?

The key benefits of market segmentation include all of the following except:

E. All of the above are correct

The package size of Oreos was reduced to reflect:

Economic realities of Chinese consumers who couldn't afford larger sizes

The key messages that make up a marketing campaign should do which of the following?

Express the main idea that the marketers want the target audience to remember.

"When using product differentiation, the marketer should avoid doing which of the following?"

Highlighting product features that are considerably different from the norm

When using marketing information to investigate, which questions should marketers answer? Select all that apply."

How might we change to best satisfy the customer? What products are our customers buying or not buying? What problems do our products solve for our customers?

Typically new product development systems have 8 stages to their process.In the ____________stage, companies may use several tools to explore possibilities and generate ideas for potential new products

Idea Generation phase

Which of the following IMC concepts was demonstrated in the video?

Ikea understands its customers

Ikea's message strategy can be best summarized as:

Ikea—Connecting their products to real life situations

Identify the most likely marketing channel structure for Tupperware products.

NOT manufacture-wholesaler-retailer

Identify the most likely marketing channel structure for nonfiction books.

NOT manufacturer-retailer

Which statement below best describes OutBound's Corporate Mission?

OutBound's mission is centered on expansion as well as conservation and community enhancement programs

OutBound distributes their products to:

Regional and local specialty shops

Marketers often use the STP model when creating marketing communication plans. It helps marketers to prioritize propositions and then deliver relevant messages to engage with targeted audiences. What does the STP model stand for?

Segmentation-targeting-positioning

Which of the following is an advantage of using secondary sources for marketing research? Select all that apply.

They are considerably less expensive than using primary data, Collecting data from them takes less time than collecting primary data

Which of the following is NOT true of convenience products?

They are heterogeneous and have differences in style and price

"When considering how a positioning strategy impacts promotion, a marketer should ask which question?"

What behavioral shift are you trying to create as you launch your new positioning?

Generally, a market that has more than five competitors is considered to be highly competitive. Based on the marketing plan, would you consider the outdoor retail industry to be highly competitive

Yes

In term of adaptation, what things did Kraft do:

all of the above

The marketing plan is the guiding document marketing managers and teams use to _____. Select all that apply.

ay out the objectives on which marketing efforts will focus, describe the actions the organization will take to achieve its objectives

A good brand name should ______. Select all that apply.

be legally available for use and unique among competition realize the functions of sales promotion and persuasion

Investigating customers by using marketing information yields insights into the customers _____. Select all that apply.

behaviors, needs, perceptions

During his lunch break, John stops by a locally owned fast-food sandwich shop, purchasing a meatball sub and a side order of pasta salad. From a marketing perspective, John is _____ in this transaction."

both the consumer and customer

Brand loyalty translates into _____, which is a value assigned to the brand."

brand equity

"Michaela has always loved drinking Sprite, and she drinks it whenever she can. However, when she is in a restaurant that does not serve Sprite she sometimes orders a 7-Up or Sierra Mist. This indicates Michaela s _____."

brand preference

The wafer product originally developed in China is now offered in:

canada, korea, australia

Factors that can trigger the decision to reposition a product, service, or brand include _____. Select all that apply.

changes in the political climate changing tastes and preferences

"Reference groups, which may be formal or informal, may include which of the following? Select all that apply."

churches, school groups, social networks

The marketing plan acts as a mechanism to _____ other functions and to check for alignment.

communicate with

Outbound's pricing is characterized as:

competition pricing

Differentiation identifies a set of characteristics and benefits that _____. Select all that apply.

competitors cannot easily copy, customers value when they are evaluating choices

"A brand, the image the customer has of the product or company, covers _____. Select all that apply."

core values product attributes the nature of the user

Outbound's promotional strategy can be characterized as:

creating differentiation

Marketing research identifies marketing opportunities and solves marketing problems using _____ derived from the collection and analysis of marketing information.

customer rights

The key to effective direct marketing activity depends on the use of _____.

databases

Base on the marketing plan, how is the target market described?

demographically

The goal of the positioning process is to _____. Select all that apply.

design an identity that confirms the value of the product, explain why and how the offering is better than the competitions

Identify the most likely marketing channel structure for farmers' markets.

direct to customers

"After its social media campaigns prove to be somewhat disappointing, Quattlebaum Widgets decides to rebrand itself as Quattlebaum Industries and to market sporting goods and office equipment in addition to widgets. What type of corporate strategy does this action demonstrate?"

diversification

The first step in measuring results following an IMC campaign is to _____

establish standards for IMC effectiveness.

"In marketing, the act of obtaining a desired object from someone by offering something of value in return is called the _____ process."

exchange

"True or false: A marketing plan is designed to focus on specific brands, products, services, or market segments rather than the company as a whole."

false

"True or false: Marketers rely on experiential learning when they use tactics such as customer testimonials, case studies, and blogger reviews to teach new customers through the experiences and opinions of others."

false

The chief difference between marketing for for-profit organizations and marketing for nonprofit organizations is that nonprofit marketing is not conducted for the purpose of earning money.

false

True or false: Brand names represent tangible assets for companies.

false

True or false: In the B2B buying process, fewer levels of consideration, review, and approval are required for more expensive purchases, unlike in the consumer buying process."

false

True or false: Pricing strategies in the introduction phase are generally set fairly low because there are few competitors in the market

false

True or false: The core product satisfies the customer s implied needs

false

Which of the following is an example of a market segment?

females aged 25-40

Jimbo Electronics sells navigation equipment used in airports. You have been working with the government of a western European country and have gotten them to agree to purchase this equipment for all airports in that country. The value of the contract is over $10 Million US dollars. In your last meeting with the government official responsible for signing the contract, you discover that this official is demanding that you paid him a $5,000 dollars "finders fees" for his assistance. Further, he said you are to build this into the the contract price so that there would be no cost to Jimbo. When you indicated that you would not do this, the official said the deal was off. Further, the official said and you have confirmed that such arrangements are considered "normal" in this country.

illegal and unethical

John Hartville has designed a line of clothing targeted toward Hispanic Americans. The items are sold only by catalog and on the Internet. He thinks that he can increase sales by claiming in ads that the firm is owned by a Hispanic American and that all the company's employees are Hispanic Americans. But John is not Hispanic American nor are most of his employees. John is motivated to get a higher level of sales in order to pay off his loan and remain in business.

illegal and unethical

You own an advertising agency and have been asked to help a potential client improve its corporate image after a highly publicized product recall. The client requests a television advertisement highlighting the company's generous donation of products to low-income families. The only such donation the company has made, however, is a donation of the recalled products. You fear promoting the donation could cause further consumer backlash, but the client continues to press for the spot.

illegal and unethical

Consumer adoption patterns are comprised of all of the following except _____. Answers:innovators

late adopters

You have developed a new food supplement designed to burn calories while sleeping. You want to target grossly overweight consumers. According the Centers for Disease Control and Prevention, 20 percent of Americans are obese. However a college who happens to be a doctor argues that it's unethical to target the obese—that they are as vulnerable a target market as much as the elderly and children.

legal and ethical

Mountaineer Pharmaceuticals is the maker of several popular drugs used to treat arthritis and other auto immune disorders. As part of its patient care initiatives, the company created a quarterly newsletter that offers medical news and information. The company has just been acquired by a group of investors who also own Wonderspa Hot Tubs and Spas. The marketing director for Wonderspa would like to use Mountaineer's mailing list for a direct-mail promotion.

legal and unethical

Wellness Foods, Inc., the maker of a variety of breakfast cereals and snacks, has just created a new vitamin-packed cereal. The new cereal has the potential to combat many of the health problems caused by malnutrition in children throughout poverty-stricken areas of the world. To date, however, many of the markets where there is malnutrition have resisted opening distribution channels to Wellness' products. Wellness realizes that its new cereal could also help open the door for the company to sell its less nutritious products in these markets. Therefore, the company is offering the new cookie at a low cost to government relief programs in exchange for the long-sought distribution channels. The company feels the deal is good for business, but the countries feel it is corporate bullying.

legal and unethical

Identify the most likely marketing channel structure for manufacturers of candy bars.

manufacture-wholesaler-retailer

Identify the most likely marketing channel structure for stereo equipment.

manufacture-wholesaler-retailer

Identify the most likely marketing channel structure for automobiles.

manufacturer-retailer

Marketing objectives created to support company objectives must specify _____ outcomes that will be achieved within a particular time frame.

measurable

The ideal market segment is _____. Select all that apply.

measurable profitable internally homogeneous

Which of the following integrated marketing communications platforms was NOT featured in the video?

mobile marketing

OutBound's product strategy is characterized as:

multi-product

Imagine you are a marketing manager for OutBound. You attend an industry conference and return excited about opportunities in Eastern Europe. If you decided to pursue this, would this be considered part of the marketing plan?

no

"Matthew is developing a positioning strategy to market a new line of gardening tools. In the products positioning statement, Matthew claims that these tools are made from a space-age alloy that will make them last longer than any other brand of tools. When he includes this, he considers what his company will have to do to ensure that it delivers this promise. This is an example of taking _____ into consideration in positioning."

outcomes

A tool used by Marketers to understand consumer's mental representations of brands within a given category is known as:

perceptual mapping

Which of the following is a type of external stimuli that a consumer may experience in the buying process? Select all that apply.

political events

Which of the following is NOT part of the marketing mix?

premium

"In the past, marketers relied on _____ far more than they do now.

print media

When Kraft decided to distribute Oreos to China, it had to address the following adaptation:

product adaptation

"To build relationships with potential customers and to discover their needs, marketers should provide their sales teams with which tools?"

product information

"For a marketing mix to provide the greatest return on investment (ROI), careful consideration must be given to which of the following items? Select all that apply."

product promotion price

A marketing plan s budget should include a list of _____ required for executing the plan.

resources

"As the prospective customer becomes an actual customer, the IMC tools noted below can help deepen and individualize the relationship. Which tool is NOT one of these?

sales promotions

"As it gets ready to launch its new marketing strategy, Quattlebaum Widgets decides that it wants to use a promotional tactic by which it can accurately measure the number of people the campaign reaches. What would be the best choice for a promotional tactic?"

social media campaign

"When presenting a marketing plan, the presenter should explain his or her ideas using _____. Select all that apply.

specific details, vivid descriptions of ideas

"Due to their purpose, nonprofit organizations are subject to a different set of rules regarding _____."

taxes

"The _____ complexity of a buying situation can involve the specifications of the physical products or those associated with services, timing, and terms of delivery and payment."

technical

One reason why a marketing department may wisely choose not to carry out a market research project is that _____.

the research s cost may exceed its benefits

What are the primary functions of a brand? Select all that apply.

to identify a product, To distinguish a product from those of competitors

Elizabeth is marketing a new type of picture frame that she invented. She has developed a full identity for the product and wants to make sure that her design is protected before she takes it to market. She should seek a _____ for her product to grant it legal protection.

trademark

"True or false: Once an actionable segmentation approach is in place, marketing organizations typically follow one of two major segmentation strategies to focus its efforts on only one market segment: concentration strategy or multi-segment strategy."

true

The target market should include only those segments of a market that are both profitable to serve and likely to be receptive to the products a company provides.

true

True or false: The goal of helping to move prospective customers through the purchasing process successfully is shared by both the marketing and sales functions.

true

True or false: The market introduction phase requires a significant marketing budget.

true

The needs, wants, and limitations of end users are given extensive attention at each stage of the design process; this is known as _____."

user-centered design

Public relations efforts strive to do all of the following EXCEPT:

utilize former journalists to create all press releases

OutBound's reliance on a single manufacturer is considered a:

weakness

Proctor and Gamble markets hundreds of products. In terms of product mix management, the ________ is the number of different product lines that P & G carries.

width