marketing 101 final

A) communication adaptation

) In Chinese, the KFC slogan "finger-lickin' good" came out as "eat your fingers off." And Motorola's Hello-moto ringtone sounded like "Hello, Fatty" in India. Which of the following strategies can be used to avoid such mistakes? A) communication adaptation B) standardized global marketing C) straight product extension D) product adaptation E) communication extension

A) value delivery network

A ________ is made up of the company, suppliers, distributors, and customers who partner to improve the performance of the entire system. A) value delivery network B) horizontal channel C) consumer base D) product delivery network E) product line

B) competitor; customer

A company can become so ________ centered that it loses its even more important focus on maintaining profitable ________ relationships. A) customer; competitor B) competitor; customer C) market; customer D) market; competitor E) competitor; product

D) reminder

A product in the maturity stage will most likely require ________ advertising. A) informative B) comparative C) persuasive D) reminder E) covert

D) A customer who believes that a brand of breakfast cereal is the brand that best meets her needs.

According to the six stages of buyer-readiness, which of the following customers is most likely to make a purchase? A) A customer who prefers Brand A over Brand B, Brand C, and Brand D. B) A customer who knows that the leading brand is more reliable than any competing brand. C) A customer who likes the flavor of a certain brand of breath mint. D) A customer who believes that a brand of breakfast cereal is the brand that best meets her needs. E) A customer who instantly recognizes the logo of a soft-drink in the window of a convenience store.

A) creative concept

After creating a message strategy statement, the advertiser must develop a compelling ________ that will bring the message strategy to life in a distinctive and memorable way. A) creative concept B) customer strategy C) customer benefit D) execution style E) media vehicle

E) customer intimacy

American Express will do almost anything to build long-term customer loyalty and to capture customer lifetime value. Which of the following competitive marketing strategies is being pursued by American Express? A) consumer capitalism B) customer equity C) product differentiation D) product leadership E) customer intimacy

B) awareness

Boson Corp. is getting ready to launch a new type of drone designed that operates inside consumers' homes to locate lost items like keys, phones, remotes, and glasses. Which of the following should be the focus of its promotional campaign? A) liking B) awareness C) preference D) knowledge E) conviction

A) consumers perceive that the company's product offers greater value

Companies can legitimately charge a higher price if ________. A) consumers perceive that the company's product offers greater value B) the demand for products manufactured by a firm is highly elastic C) the cost of advertising is minimal D) derived demand remains constant E) consumers de-emphasize quality

C) customer-perceived value

FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh these benefits against the monetary cost of using FedEx along with other costs of using the service, they are making a judgment of ________. A) brand loyalty B) customer equity C) customer-perceived value D) customer lifetime value E) a societal marketing campaign

B) challenger

Fifty percent of the market is in the hands of Company A, 30 percent is in the hands of Company B, 15 percent is in the hands of Company C, and the remaining 5 percent is in the hands of Company D. Based on these hypothetical numbers, Company B is mostly likely the market ________. A) leader B) challenger C) follower D) nicher E) maven

A) competitive advantage

Gaining ________ requires delivering more value and satisfaction to target consumers than competitors do. A) competitive advantage B) first-mover advantage C) economies of scale D) comparative advantage E) differentiation

C) direct-mail marketing

Gary sends samples of sheet music to schools for demonstration or presentation. Which of the following types of marketing is being illustrated from this statement? A) kiosk marketing B) viral marketing C) direct-mail marketing D) telemarketing E) direct-response television marketing

B) straight extension

Heineken beer is sold successfully in the same form around the world. It is produced by Heineken International in the Netherlands. The recipe and packaging are not altered as the product is exported to 170 countries. Heineken doesn't do a lot of advertising, choosing instead to spend its promotional dollars sponsoring major sporting events around the world. Which of the following product strategies is illustrated in this example? A) product adaptation B) straight extension C) product invention D) dual adaptation E) communication adaptation

A) concentrated

In class, Tesla Motors—maker of electric vehicles—was given as an example of a _________________ targeting strategy. A) concentrated B) differentiated C) micromarketing D) eco-friendly E) startup

C) product adaptation

Kraft adapts its popular Oreo cookie to the unique tastes of consumers all around the world, whether it's mango-and-orange flavored Oreos in the Asia Pacific region, green tea Oreos in China, a chocolate and peanut variety in Indonesia, or banana and dulce de leche in Argentina. This is an example of ________. A) product invention B) straight extension C) product adaptation D) product augmentation E) communication adaptation

A) alternative evaluation

Marketers describe the way a consumer processes information to arrive at brand choices as ________. A) alternative evaluation B) information search C) impulse buying D) consumer capitalism E) cognitive dissonance

C) market leader

Most of the market is in the hands of the ________, the firm with the largest market share. A) market challenger B) market follower C) market leader D) market nicher E) market maven

C) maturity

Most products in the marketplace are in the ________ stage of the product life cycle. A) growth B) decline C) maturity D) introduction E) development

D) opportunity

Omega Inc. makes lightweight sunglasses with 100-percent UV protection for people who love to hunt, hike, and ride bikes. The company's long-term plans include the development of lenses that, in addition to protecting users from UV rays, would help reduce lens spotting through effective water-sheeting methods. This new feature would be valuable to people who fish. Given the rising popularity of recreational fishing in the United States, Omega products clearly have a huge market potential. In terms of a SWOT analysis, Omega has recognized a market ________. A) weakness B) strength C) threat D) opportunity E) challenge

D) branded community Web site

Oscarz Aviation's Web site, GoOscarzAv.com, informs customers about a wide variety of services offered by the firm. It also has a guestbook where customers can provide feedback on their experiences with Oscarz Aviation. They can also view videos Oscarz Aviation posts, as well as read and respond to blogs and ask questions. GoOscarzAv.com is an example of a(n) A) online social network B) blog C) kiosk D) branded community Web site E) digital catalog

E) negative brand equity

Roughneck tools manufactures various hand tools (screwdrivers, wrenches, etc.). The company claims that its products are comparable to name brands like Craftsmen, Snapon, and Husky, and prices its products at similar price points. However, Roughneck relies on rebates to generate sales—rebates that amount to about 40% off the retail price. Roughneck has______________________. A) a competitive advantage B) a core competency C) a well-positioned brand D) a niche market E) negative brand equity

C) product leadership

Samsung and Apple actively generate new ideas, relentlessly pursue new solutions, and quickly work to get new products to market. They serve customers who want state-of-the-art products and services, regardless of the costs in terms of price or inconvenience. Which of the following value disciplines is illustrated from this example? A) operational excellence B) customer intimacy C) product leadership D) product activation E) product binning

A) understanding the marketplace

The buyer decision process consists of five stages. Which of the following is NOT one of these stages? A) understanding the marketplace B) postpurchase behavior C) information search D) need recognition E) purchase decision

D) buying center

The decision-making unit of a purchasing organization is called its ________. A) value chain B) quality center C) strategic marketing system D) buying center E) innovation center

A) service intangibility

Tristan and Juliet, a newly married couple who intend to go to Egypt for their honeymoon, bought a Europe travel package on Jizo Inc., an online travel site. As they have never seen Europe or used the services of Jizo before, they were largely dependent on other customers' feedback and signals for service quality. Which of the following characteristics of service is highlighted in this instance? A) service intangibility B) service inseparability C) service variability D) service perishability E) service distinction

B) No

U.S.-based ACME electronics has been selling its products in five foreign countries for the past decade. However, its research and development and manufacturing all take place in the U.S. as they always have. By definition, is ACME a global firm? A) Yes B) No

E) potential to influence every phase of the consumer decision process

What is one benefit of marketing through mobile devices that is unique to that medium over email marketing, blogs, and branded community websites? A) very strong on customer targeting B) low cost C) interactive D) high on engagement E) potential to influence every phase of the consumer decision process

C) They all sell online, but for Amazon et al., direct marketing is the only way they do business.

What is the difference between new-school online retailers like Amazon and Netflix compared to old-school retailers like Walmart, Target, and Macy's? A) Walmart et al. are not profitable with their online commerce. B) Walmart et al. do not consider online commerce to be a significant opportunity. C) They all sell online, but for Amazon et al., direct marketing is the only way they do business. D) Walmart et al.'s online business is growing at a fast rate than Amazon et al.'s. E) all of the above are true

B) indirect marketing channel

When a company distributes its products through a retailer, it is using which type of marketing channels? A) direct marketing channel B) indirect marketing channel C) it depends on what type of retailer it is

C) ease of creating content

Which of the following is NOT a reason that companies use social media? A) cost effectiveness B) engagement and social sharing capabilities C) ease of creating content D) immediacy and timeliness E) interactiveness

A) Blogs can offer a fresh, original, personal, and cheap way to enter into consumer conversations.

Which of the following is a benefit of using blogs as marketing tools for companies? A) Blogs can offer a fresh, original, personal, and cheap way to enter into consumer conversations. B) Blogs are online selling platforms for people located in hard-to-reach places. C) Blogs help reach a wider audience compared to other online direct marketing tools. D) Demographic information about customers can be easily discovered. E) Blogs provide companies with a platform to help portray wider merchandise.

D) determining reach, frequency, and impact

Which of the following is a major step in selecting advertising media? A) deciding on format elements B) selecting message execution style C) developing a compelling creative concept D) determining reach, frequency, and impact E) planning a message strategy

B) Commercial online databases

Which of the following is a valid source of secondary data? A) personal letters and correspondence B) Commercial online databases C) ethnographic research D) direct surveys E) interviews

E) All of the above are examples of retailer transactions.

Which of the following is an example of a retail transaction? A) Purchasing a pack of gum from Walgreens. B) A person getting a ride via Uber. C) A teenager buying mice from a private party on Craigslist to feed to his pet snake. D) Going to the theater to watch Rogue One: A Star Wars Story. E) All of the above are examples of retailer transactions.

A) maintain customer relationships

Which of the following is one of the primary goals of reminder advertising? A) maintain customer relationships B) build brand preference C) correct false impressions D) inform the market of a price change E) restore company image

B) Companies practicing value-added pricing differentiate their offers by attaching value-added features to offerings that, in turn, justify higher prices.

Which of the following is true with regard to value-added pricing? A) Companies that practice value-added pricing typically match the competition by cutting prices. B) Companies practicing value-added pricing differentiate their offers by attaching value-added features to offerings that, in turn, justify higher prices. C) The intrinsic value of products sold by companies practicing value-added pricing is far less than their actual selling price. D) Companies practicing value-added pricing primarily rely on cost differentiation. E) Value-added pricing is the most suitable pricing strategy in pure monopolies.

E) none of the above are true

Which of the following is true with respect to digital/online commerce in the U.S.? A) consumers now purchase more online than they do in physical stores. B) online shopping does not allow for accurate tracking of purchase transactions. C) marketers can now reach one hundred percent of shoppers in the U.S. through digital channels. D) online channels have a higher cost structure than physical stores but produce more profits. E) none of the above are true

A) deciding which markets to enter

Which of the following major decisions should a company make immediately after it decides to operate internationally? A) deciding which markets to enter B) deciding how to enter the market C) deciding on the global marketing organization D) deciding on the global marketing program E) deciding on the global communication program

D) introduction

Which of the following stages of the PLC is characterized with high promotional expenditures that result from an effort to create consumer awareness? A) growth B) product development C) maturity D) introduction E) decline

C) When the different elements of the promotional mix come from different parts of the company.

Which of the following would most likely be a reason for a company failing to integrate their various promotional activities? A) When consumers can't distinguish between message sources. B) When companies put too much emphasis on strategic planning. C) When the different elements of the promotional mix come from different parts of the company. D) When the sales force fails to meet sales goals. E) All of the above are reasons.

B) Cash cows

________ are low-growth, high-share businesses/products that need less investment to hold their market share. A) Stars B) Cash cows C) Question marks D) Dogs E) Bears

B) Positioning

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. A) Mass customization B) Positioning C) Segmentation D) Differentiation E) Targeting

B) Influencers

________ refer to people who affect the buying decision; they often help define specifications and provide information for evaluating alternatives. A) Users B) Influencers C) Buyers D) Gatekeepers E) Deciders