BUS140-Final

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Which of the following accurately represents the three characteristics of advertising​ appeals?

To be​ meaningful, to be​ believable, and to be distinctive

In place of traditional​ media, marketers are using​ __________________________ to engage smaller customer segments with more​ personalized, interactive content.

a broad selection of more specialized and highly targeted media

The General Agreement on Tariffs and Trade​ (GATT) was​ ____________________.

designed to promote world trade by reducing tariffs and other international trade barriers

The biggest involvement in a foreign market comes through​ ________ for the development of​ foreign-based assembly or manufacturing facilities.

direct investment

Groups of​ __________________ products consist of materials and​ parts, capital​ items, and supplies and services.

industrial

After creating a​ company's mission and​ objectives, the executive team must then plan​ ____________ by keeping in mind the best fit for its​ strengths, weaknesses, and opportunities in the environment.

its business portfolio

Many consumers today rent DVDs from a vending machine called​ Redbox, which can be found in retail stores and other locations. Redbox is type of​ ________ marketing.

kiosk

A blog is​ a(n) ______.

online forum

One challenge of social media marketing is​ _____________________

social networks are largely​ user-controlled

Which of the following statements about blogs is​ correct?

Blogs can be difficult for the company to control.

Advertising decisions involve multiple steps culminating in the measurement of the sales effects of advertising or brand content. Which of the following considers return on​ investment?

Evaluation

If the company has selected its target market and positioning​ carefully, then its marketing mix​ strategy, including​ price, will be fairly straightforward. Of the​ following, which is NOT one of the common pricing​ objectives?

Grabbing international market share

Which of the following is true regarding the​ price-demand relationship?

If demand is​ elastic, sellers will consider lowering their prices.

​________ economies are major exporters of manufactured​ goods, services, and investment funds.

Industrial

​____________ is perhaps the toughest public policy issue now confronting the direct marketing industry.

Invasion of privacy

When Doritos comes out with new flavors of its tortilla​ chips, what brand development strategy does it​ employ?

Line extension

A marketing dashboard is used to do which of the​ following?

Monitor strategic marketing performance

Which of the following statements is TRUE about public relations and a​ company's overall integrated marketing communications​ efforts?

PR should be blended smoothly with promotion activities.

Which of the following uses promotional tools such as​ presentations, trade​ shows, and incentive programs to engage​ customers, make​ sales, and build customer​ relationships?

Personal selling

​___________________ advertising is the type of advertising objective used when attempting to build brand preference and prompting customers to purchase now.

Persuasive

​__________ products give high immediate satisfaction but might hurt consumers in the long run.

Pleasing

In the​ whole-channel concept for international​ marketing, which of the following is NOT a global value delivery​ network?

Price escalation

​________ is when a company adds the cost of​ transportation, tariffs, importer​ margin, wholesaler​ margin, and retailer margin to its​ product's factory price.

Price escalation

​Kroger, headquartered in​ Cincinnati, Ohio, is one of the​ nation's largest grocery chains. It owns several brands sold in its​ stores, including Private​ Selection, Heritage​ Farm, and Simple. These brands represent which type of brand​ sponsorship?

Private brands

Which of the following statements is correct regarding sellers and their use of direct and digital​ marketing?

Sellers have opportunities to engage in​ real-time marketing.

Before making a decision to operate in other​ countries, what must a company​ understand?

The international marketing environment

When a company considers international​ marketing, which of the following is a fundamental issue within the global environment that it must understand thoroughly from the​ outset?

The international trade system

Which of the following statements about public relations is​ correct?

The lines between advertising and public relations are becoming more blurred.

Which of the following correctly defines a​ product?

A product is anything offered to a market that might satisfy a need or want.

​_____________________ direct(s) its marketing activities​ (primarily advertising, consumer​ promotion, and direct and digital​ media) toward final consumers to induce them to buy the product.

A pull strategy

In which of the following does a producer direct marketing activities​ (primarily personal selling and trade​ promotion) toward channel​ members?

A push strategy

Why are​ U.S.-based international companies concerned when the U.S. dollar is strong compared to other​ currencies?

A strong dollar makes exports from other countries more attractive to the U.S.​ consumers, causing increased price competition for​ U.S.-based international companies.

Breakeven Formula

Break-even volume=fixed costs / price−unit variable cost Break-even analysis determines the unit volume and dollar sales needed to be profitable given a particular price and cost structure. At the break-even point, total revenue equals total costs and profit is zero. Above this point, the company will make a profit; below it, the company will lose money. Contribution margin=total sales−total variable costs/total sales

How do the individual components of a SWOT analysis work together to determine the status of a​ company?

By ascertaining a​ company's strengths, relating them to​ opportunities, minimizing​ weaknesses, and identifying threats to growth and development

Which type of consumer products are frequently purchased with little​ planning, little comparison or shopping​ effort, and low customer​ involvement?

Convenience products

Nibbles Pet Food Corporation is in the process of developing its new market strategy. The marketing team has already established the​ company's niche productlong dash—​premium, organic dog and cat foodlong dash—and contracted to sell it in several​ high-end pet stores. The team has also determined the optimum price to create value for customers and still make a profit. What does the marketing team need to do​ now?

Create a promotion strategy to increase customer awareness

What are the two major elements in developing advertising​ strategy?

Creating advertising messages and selecting advertising media

Criticism has been leveled at marketing for negative impact on other businesses. Of the​ following, which does NOT fall within those​ criticisms?

Creating false wants and too much materialism

​_____________________ is the value of customer relationships that a brand creates.

Customer equity

Which of the following types of marketing calls for building​ long-run consumer​ engagement, loyalty, and​ relationships?

Customer value marketing

Which of the following is at the center of marketing strategy and​ programs?

Customer​ engagement, value, and relationships

Which of the following refers to setting prices based on​ buyers' perception of value rather than on the​ seller's cost?

Customer​ value-based pricing

A form of television marketing which persuasively describes a product and give customers a​ toll-free number or an online site for ordering is known as​ _________________.

DRTV marketing

​________ includes practices such as falsely advertising​ "factory" or​ "wholesale" prices or a large price reduction from a phony high retail list price.

Deceptive pricing

Working with donors or members of nonprofit organizations to gain financial or volunteer support represents which public relations​ function?

Development

Which form of marketing involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer​ relationships?

Direct and digital marketing

​_______________________ uses tools that engage directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships.

Direct and digital marketing

Which of the following is included in the American Marketing​ Association's (AMA) Code of Ethics and stresses consciously avoiding harmful actions or omissions by embodying high ethical standards and adhering to all applicable laws and regulations in the choices we​ make?

Do no harm

Which of the following means striving for building relationships and enhancing consumer confidence in the integrity of marketing by affirming these core​ values: honesty,​ responsibility, fairness,​ respect, transparency, and​ citizenship?

Embrace ethical values

​____________________ is perhaps the biggest advantage of social media.

Engagement and social sharing capabilities

Which of the following describes an organized movement of concerned​ citizens, businesses, and government agencies designed to protect and improve​ people's current and future living​ environment?

Environmentalism

As an economic​ community, which of the following contains more than half a billion​ consumers, accounts for almost 20 percent of the​ world's imports and​ exports, and is one of the​ world's largest single​ markets?

European Union

A​ company's value chain is only as strong as its weakest link. What should a company do to properly gauge the strength of its links and continually​ improve?

Examine how well each group performs its work of adding customer value.

​______________________ is the simplest way to enter a foreign market.

Exporting

Companies manage their international marketing activities in at least three different ways. Which of the following is the last step in their organizational​ activities?

Global organization

Marketers that wish to enter an international environment have to consider the​ political-legal environment. Of the​ following, which is NOT among the factors marketers should consider within the​ political-legal environment?

Investment opportunities

Which of the following is a valid concern when it comes to the four Ps​ concept?

It may omit or underemphasize certain important activities.

Marketers operating in international environments must study and understand each​ country's economy. Which of the following are the primary economic factors that reflect a​ country's attractiveness as a​ market?

Its industrial structure and income distribution

In determining product​ quality, what are the two dimensions of quality marketers must decide​ upon?

Level and consistency

When we see Hello Kitty on​ children's clothing, Disney characters on​ lunchboxes, and SpongeBob SquarePants on breakfast​ cereals, which form of brand sponsorship is being​ used?

Licensing

Denim Blue Jean Corporation is a growing company located in Washington​ State, but it is beginning to develop a presence in the surrounding states as well. It sells only one productlong dash—blue jeanslong dash—but it has 12 different lines of jeans that cater to​ men, women,​ children, babies,​ toddlers, and teens. Which type of marketing department organization would BEST suit Denim Blue Jean​ Corporation?

Market management organization

Which of the following accurately describes a​ company's efforts to engage​ customers, persuasively communicate customer​ value, and build customer​ relationships?

Marketing mix

Which of the statements is TRUE regarding media and message​ decisions?

Media and message decisions should be closely coordinated.

​_________________________ eliminated trade barriers and investment restrictions among three large global countries while establishing a single market of 487 million people who produce and consume over​ $23 trillion of goods and services annually.

NAFTA

Which of the following is correct regarding the forms of direct and digital​ marketing?

New digital and the more traditional forms of direct marketing must be blended and integrated

​_________ include biases against a​ company's bids, restrictive product​ standards, or excessive​ host-country regulations or enforcement.

Nontariff trade barriers

Which of the following represent the newer tools of digital direct​ marketing?

Online​ marketing, social media​ marketing, and mobile marketing

​Amazon's Alexa speaks Hinglishlong dash—a blend of Hindi and Englishlong dash—with an unmistakable Indian accent. She knows Independence Day is August​ 15, not July​ 4, and wishes listeners​ "Happy Diwali and a Prosperous New​ Year!" What is this an example​ of?

Product adaptation

​___________________is used to build and maintain national or local community relationships and is one of the functions of public relations.

Public affairs

​__________________ are limits countries can set on the amount of foreign imports that they will accept in certain product categories.

Quotas

Which advertising objective is best suited to maintaining customer relationships and for more mature​ products?

Reminder

​________ products have low immediate appeal but might benefit consumers in the long runlong dash—for ​instance, bicycle helmets or some insurance products.

Salutary

A​ company's marketing should support the five sustainable marketing principles. Of the​ following, which is NOT among those​ principles?

Salutary marketing

Which of the following is described as​ "always on" and is a large component of the digital advertising​ mix?

Search advertising

Which of the following is NOT a step in the strategic planning​ process?

Set revenue and financial goals

In which of the following does top management tell its marketing​ people, "Take the product as is and find customers for​ it"?

Straight product extension

Sustainable marketing should be guided by five sustainable marketing principles. Of the​ following, which is NOT one of those​ principles?

Strategic marketing

Which of the following is NOT part of an overall SWOT analysis evaluation of a​ company?

Strategy

Which of the following is a type of marketing that calls for meeting the present needs of consumers and businesses while preserving or enhancing the ability of future generations to meet their​ needs?

Sustainable marketing

Which of the following states that managers must look beyond what is legal and allowable and develop standards based on personal​ integrity, corporate​ conscience, and​ long-term consumer​ welfare?

The sustainable marketing concept

Why is marketing return on investment​ (ROI) so difficult to​ measure?

There is no consistent definition.

What is the goal of​ advertising?

To help move consumers through the buying process

What is the purpose of the marketing mix as part of the overall marketing​ strategy?

To produce a response that influences a demand for the product from the customers the company is targeting

Which of the following statements about service marketing is​ correct?

Training current employees better and hiring new ones with more skills can increase service productivity.

Which of the following statements regarding managing service quality is​ correct?

Unlike product​ quality, service quality will always vary.

Which of the following replaced GATT in​ 1995, imposes international trade​ sanctions, and mediates global trade​ disputes?

WTO

Which of the following is a form of traditional direct​ marketing?

Which of the following is correct regarding the forms of direct and digital​ marketing?

What event or circumstance has made mobile marketing a must for most​ brands?

Widespread adoption of mobile devices

Roshika has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Since she does not know much about​ wine, she will likely use the price of the wines as​ ________.

an indicator of quality

Through sustainable​ marketing, both businesses and consumers​ ___________________.

are both called to more responsible actions

According to the sustainable marketing​ concept, a​ company's marketing objectives should support the​ ___________________________.

best​ long-run performance of the marketing system

The primary purpose of​ _________ websites is to do more than just sell products or move them closer to a direct purchase.

brand community

In the​ whole-channel view of​ distribution, the first​ link, ________,​ move(s) company products from points of production to the borders of countries within which they are sold.

channels between nations

In the​ whole-channel view of​ distribution, the second​ link, _________, moves products from their market entry points to the final consumers.

channels within nations

According to the principle of​ ________ marketing, the company should put most of its resources into customer​ value-building marketing investments

customer value

Exaggerating package contents through subtle​ design, using misleading​ labeling, or describing size in misleading terms is known as​ ____________________.

deceptive packaging

Practices such as misrepresenting the​ product's features or performance or luring customers to the store for a bargain that is out of stock are considered​ ____________________.

deceptive promotion

When a company starts the strategic planning process at the corporate​ level, it begins by​ _____________________________.

defining its overall purpose and mission

The goal of integrated marketing communications is to​ __________________________________.

deliver​ clear, consistent, and compelling messages about the organization and its brands

The purpose of a tariff is to​ _______________________.

force favorable trade behaviors

Many companies get involved in several international markets and ventures. They can be​ __________, with country managers who are responsible for​ salespeople, sales​ branches, distributors, and licensees in their respective countries.

geographical organizations

When a company begins doing business​ internationally, it generally starts with​ ____________________, working through independent international marketing intermediaries.

indirect exporting

​FancyFace, a cosmetics firm located in the United​ States, markets its products in Asian and European countries through independent distributors. In this​ case, FancyFace has entered international markets through​ ________.

indirect exporting

The goal of a push strategy is to​ _____________________________.

induce channel members to carry and promote the product

The principle of​ ________ marketing requires that a company continuously seek real product and marketing improvements.

innovative

Social media are ideal for participating in customer conversations and listening to customer feedback because they are​ _____________.

interactive

University Boutiques promotes its brand in new international markets by providing rights to local boutiques to use its patented designs and brand name. In this​ case, University​ Boutiques' market-entering strategy is referred to as​ ________.

licensing

When consumers respond in a similar way to a given set of marketing​ efforts, they can be referred to as a​ _________.

market segment

​Geico's website is designed to quickly turn an inquiry into a sale. Geico has designed​ a(n) ______ website.

marketing

Which of the following is used to engage customers​ anywhere, anytime during the buying and​ relationship-building processes?

mobile marketing

Instagram

nstagram ad content creates high levels of consumer engagement compared with other social media. For example, whereas as closest competitor Snapchat's disappearing content makes brand-consumer connections fleeting, Instagram's format lets consumers scroll through, linger over, and share content on their own time terms. Beyond Snapchat comparisons, one recent study revealed that brands get as much as 30 times more engagement on Instagram than on Twitter and three times more engagement than on Facebook. Beyond its ability to engage consumers with impactful brand content, Instagram is now setting its sights on the next step of the customer journey—purchase. Brands can now create storefronts on Instagram, where users can click through to a company's web or mobile site to place orders. Instagram is even working on ways to accept payments and place orders without having to leave the network.

​Websites, online​ advertising, email, online​ video, and blogs are all forms of​ ______.

online marketing

Consumers may receive an​ e-mail, supposedly from their bank or credit card​ company, saying that their​ account's security has been compromised. The sender asks consumers to log on to a provided Web address and confirm their account and other personal information and then steals this private information. This is a fraudulent practice called​ ______.

phishing

The illegal practice of​ ______________________ is selling below cost with the intention of punishing a competitor or gaining higher​ long-run profits by putting competitors out of business.

predatory pricing

When Apple introduced its iPhone​ X, it priced the new product at nearly​ $1,000, considerably higher than competing smart phones. Apple was pursuing a​ ___________________ new product pricing​ strategy.

premium pricing

The​ Robinson-Patman Act seeks to ensure that sellers offer the same price terms to customers at a given level of trade to prevent​ ______________________.

price discrimination

Bath​ & Body Works uses​ _____________ pricing when the company offers​ "three-fer" deals on its products​ (such as​ soaps, lotions, and​ moisturizers).

product bundle

The Ford Mustang is offered in several different models. Ford uses​ __________ pricing to determine the price steps between the different models.

product line

When a retailer temporarily prices a few select items below cost to create excitement and pull consumers into the​ store, it is practicing​ ___________________ pricing.

promotional

Press​ releases, sponsorships,​ events, and web pages are promotional tools used in​ _____________.

public relations

The difference between the marketing concept and the sustainable marketing concept is that the marketing concept​ ___________________________.

recognizes that companies thrive by fulfilling the​ day-to-day needs of customers

When a company lengthens a product line by adding more items beyond its current​ range, it is​ ________.

stretching the line

Companies embracing environmental sustainability policies develop strategies to implement them. The strategies include which of the following two​ components?

sustain the environment and produce profits for the company

To create value for​ customers, marketers must improve the performance of the​ ______________, which includes partnering with​ suppliers, distributors, and customers.

value delivery network

Service​ _______ means that the quality of services depends on who provides them as well as​ when, where, and how they are provided.

variability

The digital version of​ word-of-mouth marketing that involves creating​ videos, ads, and other marketing content that is so infectious that customers will seek them out or pass them along to their friends is called​ _______.

viral marketing

UPS uses​ _________________, which charges different prices for shipping depending on an​ item's destination. The more distant the city where the package is being​ shipped, the higher the price UPS charges.

zone pricing

​________ refers to striving for good faith and fair dealing so as to contribute toward the efficacy of the exchange process as well as avoiding deception in product​ design, pricing,​ communication, and delivery or distribution.

​"Foster trust in the marketing​ system"

Which of the following incorporates the advantage of brands operating in different categories with the combined brands creating broader consumer appeal and greater brand​ equity?

​Co-branding

​________ marketing means that the company should view and organize its marketing activities from the​ consumer's point of view.

​Consumer-oriented

​________ involves sending an​ offer, announcement,​ reminder, or other item to a person at a particular address.

​Direct-mail marketing

​Sadie's Restaurant has listened to its customers over the years and is now able to offer the right combination of quality and good service at a fair price. Which pricing strategy is​ Sadie's using?

​Good-value pricing

​_________________marketing means that the company should define its mission in broad social terms rather than narrow product terms.

​Sense-of-mission

​New, premium movie theaters offer features such as online reserved​ seating, high-backed leather executive chairs with armrests and​ footrests, the latest in digital​ sound, super-wide​ screens, and other amenities for which they charge a higher price. This is an example of which type of​ pricing?

​Value-added pricing

Because of deceptive acts or practices by​ companies, Congress has enacted legislation designed to protect consumers. Which of the following was enacted to protect consumers against deceptive acts or​ practices?

​Wheeler-Lea Act of 1938

Gillette charges a fairly low price for its razors​ (relative to​ costs) and a high price for razor blades. It is using a strategy of​ ___________ pricing.

​captive-product

Companies like Amazon and Expedia.com that sell products and services directly to final buyers over the Internet are known as​ _______.

​e-tailers

The benefits of direct and digital marketing for buyers are that they are​ _________.

​easy, convenient, and private

​______ means sending email pitches only to customers who​ "opt in."

​permission-based email marketing

When sellers set prices in conjunction or collaboration with one​ another, this illegal practice is known as​ _______________.

​price-fixing

Ikea

KEA offers a classic model for how to do business in a global environment. Far more than just a big furniture merchant, IKEA has achieved global success by engaging consumers of all nationalities and cultures. From Beijing to Moscow to Middletown, Ohio, customers are drawn to the IKEA lifestyle, one built around trendy but simple and practical furniture at affordable prices. IKEA's mission worldwide is to "create a better everyday life for the many people. . . by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them." IKEA succeeds globally by striking just the right balance between global standardization and local market adaptation. No matter where in the world you shop at IKEA, you'll find huge stores, the familiar blue-and-yellow brand logo and signage, large selections of contemporary Scandinavian-design furnishings, and affordable prices. At the same time, IKEA carefully adapts its merchandise assortments, store operations, and marketing to cater to the unique needs of customers in different global markets characterized by vastly different means, languages, and cultures.

Nailit Cosmetics is advertising its newest line of nail​ polishes, made from a​ nontoxic, water-based nail polish with amazing summer colors. Nailit is selling the products in specially designed bottles that make application easier. Which of the following is a core customer value for​ Nailit's line of​ polishes?

The desire to have beautiful nails

Adding a new product line to an existing portfolio means that the line has​ __________________.

increased product mix width

A service firm must orient and motivate its​ customer-contact employees and supporting service people to work as a team to provide customer satisfaction. This process is known as​ _________________________.

internal marketing

The three functions of​ __________ include​ identifying, describing, and promoting the product.

labeling

What potential risk do marketers incur by using richer but more fragmented media and promotional​ mixes?

A communications hodgepodge for consumers

Brand Logo Makeovers

Companies have always taken great care to craft simple, easily recognized logos that quickly identify their brands and trigger positive consumer associations. However, in today's digital world, brand logos are being asked to do much more. A logo is no longer just a static symbol placed on a printed page, package, TV ad, billboard, or store display. Instead, todays logos must also meet the demands of an ever-more-diverse set of digital devices and media. A brand logo that looks great and communicates well on a package or in a magazine ad might fail miserably in a social media setting on a smartphone screen. Such examples highlight the powerful connections people have to the visual representations of their brands. When logo changes are required—as they most certainly will be at some point—the best course is to alert customers to the upcoming changes and to explain why they are needed. Google did that in a widely distributed video showing the evolution of its logo and the reasons behind the most recent redesign.

Which of the following statements regarding the important decisions in the development and marketing of individual products is​ correct?

Product attributes that communicate and deliver benefits to the consumer include​ quality, features, and style and design.

Which of the following is NOT one of the marketing management​ functions?

Promoting

The goal of a market development growth strategy is to do which of the​ following?

Identify and develop new markets for current products of a​ company's market

In analyzing a​ company's current business​ portfolio, what is​ management's first​ step?

Identify strategic business units

​When, if​ ever, is price discrimination​ allowed?

If the seller can prove that its costs are different when selling to different​ retailers, then it is legal.

Which of the following statements regarding packaging is​ correct?

Innovative packaging can give a company an advantage over competitors and boost sales.

Just Don't Call it Advertising

Instead, the lines are rapidly blurring between traditional advertising and new digital content. To be relevant, today's brand messages must be social, mobile, interactively engaging, and multi-platformed. Says one industry insider: "Today's media landscape keeps getting more diverse—it's broadcast, cable, and streaming; it's online, tablet, and smartphone; it's video, rich media, social media, branded content, banners, apps, in-app advertising, and interactive technology products." Today's shifting and sometimes chaotic marketing communications environment calls for more than just creating and placing ads in well-defined and controlled media spaces. Rather, today's marketing communicators must be marketing content strategists, creators, connectors, and catalysts who manage brand conversations with and among customers and help those conversations catch fire across a fluid mix of channels.

A value chain consists of which of the​ following?

Internal departments and other companies that carry out​ value-creating activities

When​ Coca-Cola saw the growth of the​ bottled-water category, it launched DASANI​Ò​, its brand of bottled water. Which brand development strategy did​ Coca-Cola use in launching​ DASANI?

New brand

Sanchez Hispanic Foods and Seasonings has started to grow larger than the Sanchez family could ever have imagined. The company is having a hard time keeping track of all of the​ business' marketing activities. They know that they are going to need help to keep the business growing and are looking for solutions. Which of the following potential hires is likely the best decision for the Sanchez​ family?

Noah​ Lopez, a marketing specialist and expert who would be hired as the Sanchez​ family's new chief marketing officer

​________________ is the service characteristic to which marketers need to pay close attention when there are fluctuations in demand.

Perishability

Of the​ following, which is true about​ pricing?

Price competition is a core element of our​ free-market economy.

Snickers

Snickers "You're not you when you're hungry" campaign's numerous digital elements are designed to engage customers and trigger consumer-generated content. Prior to the campaign, Snickers was losing market share. However, not long after Betty White made her Super Bowl debut, Snickers surpassed Mars's own M&Ms to become the planet's best-selling candy, a position it still holds today. With an expanded lineup that now includes Snickers Almond, Snickers Peanut Butter Squared, Snickers Bites, and Snickers Ice Cream bars, the $3.5 billion Snickers brand now contributes more than 10 percent of giant Mars, Inc.'s total annual revenues. Thanks in large part to the innovative "You're not you when you're hungry" integrated marketing communications campaign, the brand's long-standing claim holds truer than ever, for both the company and its customers: "Snickers satisfies.

AirBnB's Mission

So in 2014, Airbnb launched a new company mission: To help create a world where you can belong anywhere, and where people can live a place instead of just travelling to it. The new mission inspired a new brand tagline—"Belong Anywhere"—and a new brand symbol, the bélo. Carefully conceived to contain the "A" in Airbnb, a heart, and a location pin, Airbnb casts the bélo as "the universal symbol of belonging." Airbnb's "Belong Anywhere" mission is more than just a plaque on the wall at corporate headquarters or an inspirational statement on the About page of its website. Instead, the mission drives everything the company does, from its travel offerings to its marketing campaigns. Airbnb sees itself not just as a rooms provider but as a curator of unique and authentic "belonging" experiences

Unilever

So in late 2010 Unilever launched its Sustainable Living Plan—an aggressive long-term plan that takes capitalism to the next level. Under the plan, the company set out to "create a better future every day for people around the world: the people who work for us, those we do business with, the billions of people who use our products, and future generations whose quality of life depends on the way we protect the environment today." According to Polman, Unilever's long-run commercial success depends on how well it manages the social and environmental impact of its actions. Unilever is making excellent progress on its overall mission of "making sustainable living commonplace" and on its 79 aggressive Sustainable Living Plan goals. The company has already achieved 16 specific targets, is right on pace with 56 more, and is making good progress on the other seven. And despite volatility in its global markets, Unilever's profits continue to grow. In the past two years alone, Unilever's revenues have increased 22 percent while profits have shot up a whopping 48 percent. Even more telling, Unilever's 26 Sustainable Living Brands grew 46 percent faster than the rest of its business, and 22 are among the company's top 40 brands.

Which of the following actions helps a company find the game plan for​ long-run survival and growth that makes the most sense given its specific​ situation, opportunities,​ objectives, and​ resources?

Strategic planning

A variation of​ break-even pricing is​ ____________________, which uses the concept of a​ break-even chart that shows the total cost and total revenue expected at different sales volume levels.

Target return pricing

Using the BCG​ growth-share matrix as a​ guide, Masumura Technologies identified question marks in its business portfolio but is currently maintaining its market share. At a recent meeting with the​ company's senior management​ team, the CEO of Masumura and her team members decided to allocate all of the​ company's profits toward the growth and expansion of these question​ marks, in order to cause the question marks to become stars. What is likely to happen to this​ company?

The growth of the company will be unpredictable because there is no guarantee that a question mark will become a star.

Tesla

Then along comes Tesla, another startup with lofty ambitions. But rather than tackling the likes of Toyota, Ford, Honda, and GM head-on, Tesla began by sneaking in the back door. While the auto industry majors were still peddling mostly traditional internal combustion vehicles, Tesla began by focusing on a narrow sliver of the market—high-performance all-electric vehicles (EVs) targeted toward a small segment of affluent, technology-obsessed buyers. However, despite potential bumps in the road, Tesla continues its journey from upstart nicher to full mass-market brand. It is further diversifying its vehicle portfolio with self-driving EV semi-trucks and a new Roadster slated for 2020—one that promises to shatter more records for speed, acceleration, range, and coolness. And although the future remains uncertain, Tesla has already gone further, faster than any other vehicle startup in history. Tesla is to cars what Apple has long been to consumer electronics, with the same kind of innovative leadership and cult brand following. Despite the potholes, Tesla's current and wannabe customers remain unwavering in their enthusiasm for the brand.

Internal factors that affect pricing include​ _________________.

The​ company's overall marketing​ strategy, objectives, and marketing mix

Nike

To customers, the Nike brand means much more than just innovative running shoes and apparel. Deep down, Nike means sports inspiration, a just-do-it attitude, and a total brand experience To customers, Nike represents an attitude, a sports passion, and a deep kinship and sense of community surrounding the brand. More than just something to wear, Nike has become a valued part of customers' lives and times.

Which of the following is a pure tangible​ good?

Toothpaste

Apple

Under its premium pricing strategy, Apple sets its prices above those of even its highest-priced competitors. Yet Apple's sales remain hot and its profits even hotter. However, Apple is still thriving in China and other emerging economies by catering to the also-burgeoning numbers of more-affluent consumers in those markets who want and can afford the luxury and status associated with Apple. Just like anywhere else, if you can afford it, an Apple device is well worth the premium price. In China, according to one analyst, "It's a price people have been willing to pay, specifically because it is expensive. The lesson is simple: Truly premium products earn premium prices.

The quality of services depends on who provides them as well as​ when, where, and how they are provided. Which characteristic of services does this​ describe?

Variability

Which of the following is considered part of an augmented product rather than that of an actual product or core customer​ value?

Warranty

A new hardware company is writing its mission statement. Which of the following is the BEST mission statement possible for the new​ company?

We will help customers​ build, invigorate,​ restore, refurbish, or completely redesign their homes or businesses.

​________________________ is one major objective associated with a​ market-penetration pricing strategy.

Winning large market share

Marketers now have a richer mix of media and content approaches with consumers being bombarded by many brand messages. The result is that​ _________________________.

consumers​ don't distinguish between content sources the way marketers do.

​Catalogs, online and social​ media, and mobile marketing are some of the specific promotional tools used in​ _________________________.

direct and digital marketing

Continually adjusting prices to meet the characteristics and needs of individual customers and situations is known as​ _______________________.

dynamic pricing

Ad agency Young​ & Rubicam's BrandAsset Valuator measures brand strength along four consumer perception dimensions. Brand​ ___________ is defined in terms of how highly consumers regard and respect the brand.

esteem

Which of the following reverses the usual process of first designing a new​ product, determining its​ cost, and then​ asking, "Can we sell it for​ that?"

target costing

​Stars, cash​ cows, question​ marks, and dogs are the four types of strategic business units​ (SBUs) defined in which of the​ following?

​Growth-share matrix

What are stars in the​ growth-share matrix?

​High-growth, high-share businesses or products

When a college or university charges more for​ out-of-state students than​ in-state students, it is practicing​ ______________________.

​location-based pricing

A company has set a low price on a new product it introduced. It wants to maximize its market share and attract a large number of buyers quickly. Which new product pricing strategy should the company​ use?

​market-penetration pricing

A car buyer can choose a base model at one​ price, or one with a premium sound and navigation system at a higher price. This is an example of​ _______ pricing.

​optional-product


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