Marketing Practice Exam 1
Blue apron is a subscription-based meal kit service. Alex Peak, blue apron had 1 million US subscribers who paid an average of $49/week. While the minimum subscription was 3 months, the average subscriber stayed for 6 months. Assuming it cost $50 to acquire a customer, what is the simple formula for calculating the lifetime value of an average blue apron subscriber? -1 million x $49 x 6 -$50 -$49 X 4 X 3 - $50 -1 million X $49 X 24 -$50 -($49 X 6 X 4) -$50
($49 X 6 X 4) -$50
What is the customer acquisition and retention conversion (in that order) of equinox? Aided awareness 90% Ever been a member 10% Currently members 8% -8/10 = 0.8 and 90/10 = 9 -10 and 8 -10/90 and 8/10 -(10+8)/90 and 8/10
10/90 and 8/10
Recent research found that 75% of consumers who buy canned olives are aware of the Lindsay brand of olives, 62% of them have purchased the brand, and 39% of them say it is the only brand of canned olives they buy. Based on just this information, which answer below is the correct way to calculate Linseys acquisition conversion? -39/62 -39/75 -62/75 -(62-39)/75
62/75
Birchbox is a subscription service that brings samples of new beauty and grooming products each month to consumers based on their profile. A 12-month subscription costs $13/month and on average, customers stay with Birchbox for 2 years. If the company spends on average $100 to acquire a customer, which formula below is the calculation of the average Birchbox 12-month subscriber's lifetime value? - = (12*$13*2) - $100 - = ((12*$13)/2) - $100 - = ((12*$13) - $100)/2 - = (12*$13 - $100)*2
= (12*$13*2) - $100
Routine maintenance is an important aspect of car ownership. A service station that washes your car after servicing is an example of the station leveraging: -it's diversification growth strategy -it's star business -a high impact touch point -it's butterfly customers
A high impact touch point
Routine maintenance is an important aspect of car ownership. A service station that washes your car after servicing it is an example of the station leveraging: -it's diversification growth strategy -it's star business -a high impact touchpoint -it's butterfly customers
A high impact touchpoint
GOLFBOOK was created for those who frequently organize and pay for golf outings with their friends. What type of segmentation does this suggest GOLFBOOK is based on? A. Behavioral B. Psychographic C. Demographic D. Needs
A. Behavioral
For its Campaign for Real Beauty, Dove created some of Youtube's most widely viewed videos. Getting viewers to share their content is an attempt by marketers to generate: A. Earned media B. Paid media C. Owned media
A. Earned media
What is missing from this positioning statement of AcceleRev? "AcceleRev helps hospitals collect more of their Accounts Receivables faster through its unique intelligent automation and advanced business process engineering capabilities." A. Frame of reference B. Target audience C. Key benefit D. Reasons to believe
A. Frame of reference
When Gap was founded, it was the name of a company and its retail stores. Over time Gap acquired and created new retail concepts with no apparent connection to the Gap name. Today, Gap Inc has Gap stores as well as Banana Republic, Old Navy, Athleta, and others. From a brand architecture perspective, Gap has: A. Gone from a branded house to a hybrid architecture B. Gone from a branded house to a house of brands architecture C. Remained a branded house D. Gone from a hybrid architecture to a house of brands
A. Gone from a branded house to a hybrid architecture
Movie studios aggressively promote their films on billboards all over Los Angeles during Academy Awards season to build support for their films as candidates for Best Motion Picture. What type of media is this type of outdoor advertising? A. Paid media B. Owned media C. Earned media D. None of these
A. Paid media
Netflix has become so committed to producing its own original programming that it bought the biggest billboard company in Los Angeles to get the word out about its productions. Which P is Netflix' use of its own billboards to do get the word out an example of? A. Promotion B. Place C. Price D. Product
A. Promotion
Magnolia Home is a line of home decor and design products including paint, furniture, rugs and more for people who aspire to the look and tastes of its founder, Joanna Gaines, who is a well-known decorator and co-host of the hit TV show, Fixer Upper. Based on just this information, which type of customer segmentation can we can infer that Magnolia Home is using? A. Psychographic B. Demographic C. Needs D. Behavioral
A. Psychographic
Which of these is an aspect of SMART metrics? A. Specific B. Monetary C. Actionable D. Relative E. Targeted
A. Specific
The customer decision making process is referred to as a funnel where: A. There are more consumers who are aware of the brand or product than ultimately purchase it B. There are more advocates for the brand or product than there are consumers who are aware of it C. There are more ways to create loyalty than build awareness D. There are more ways to drive purchase than to drive consideration
A. There are more consumers who are aware of the brand or product than ultimately purchase it
Which of these statements is NOT TRUE about organizations with a hybrid architecture? A. They are rare B. They often result from acquisition C. They have some brands that are connected to the parent and others that stand alone D. They leverage a strong master brand across the entire portfolio
A. They are rare
Pepsi was able to de-position CocaCola in part by having an icon of youth culture, Michael Jackson, as its spokesperson and by launching the Pepsi Generation campaign at a time when CocaCola had Bill Cosby as its spokesperson. A. True B. False
A. True
The messaging on product packaging is informed by the product's positioning. A. True B. False
A. True
Which answer best describes Apple's vision under Steve jobs, as reflected in the two early Apple videos we watched in lecture? A. Unleash computer users' creativity B. Make faster, better computers C. Make cool wearables D. Create new ways for consumers to enjoy music
A. Unleash computer users' creativity
Which framework discussed in class best describes this statement about Quixey? Quixey is the born-mobile, next-generation search technology company that designs solutions to access the right information at the point of action so users can accomplish more. A. Value proposition B. Vision C. Positioning D. Brand Architecture
A. Value proposition
The classic value proposition includes three components. What are they? A. Who we are, what we do and why it matters B. Who we're talking to, what we do and why it matters C. Who we are, what we do and how we do it D. Who we're talking to, what we do and how we do it
A. Who we are, what we do and why it matters
Knowing the percentage of all online first time visitors coming from Google search that make a purchase on the beauty site glossier is useful in informing glossier's: -acquisition tactics -vision - customer lifetime value -retention tactics
Acquisition tactics
Which of these marketing strategies and objectives is most likely for a Star business? -Aggressive marketing to build sustainable advantage -Focused marketing to grow market share -Limited marketing to contain investment -Focused marketing to increase relevance
Aggressive marketing to build sustainable advantage
Which of these answers best completes this sentence: Dove's campaign for Real Beauty... -was a one time campaign to promote dove soap -focused on dove soap's cleaning properties -aims at supporting diverse definitions of beauty -relies largely on print and TV advertising
Aims at supporting diverse definitions of beauty
Which indications were there that Coca Cola was losing relevance in the mid-1980s? -Pepsi's sales surpassed CocaCola's -Coca cola's share went down while Pepsi's went up -Coca Cola was losing blind taste tests to Pepsi
All of the above
Netflix wants to calculate the lifetime value of its customers. Which of the following they should NOT consider in this calculation? -Average number of months of the customer relationship -monthly average price -average number of hours a customer uses the app -marketing efforts ($) to acquire a customer
Average number of hours a customer uses the app
Which of the following should Netflix NOT consider when calculating customer lifetime value (CLV)? -Average number of months of customer relationship -average number of hours a customer uses the app -marketing efforts ($0 to acquire a customer) -monthly average price
Average number of hours a customer uses the app
Netflix has identified a group of customer who don't use Netflix because they believe they can find free ways to get interesting content to watch. What should Netflix do with this group? -invest to make them profitable -invest to get increase share -avoid investing -invest to turn them into brand advocates
Avoid investing
Which level of the funnel is most Super Bowl advertising, like the 2020 Hyundai commercial included in the pre-read materials, aimed at?
Awareness
Committing to SMART marketing objectives in the Marketing Plan is a way for Marketing to avoid being held accountable for achieving results. A. True B. False
B. False
The reason CocaCola has lost relevance with consumers is because it has failed to develop or introduce new products. A. True B. False
B. False
In segmenting customers based on their attractiveness to the business, the customer relationship framework evaluates customers on which two dimensions? A. Strengths and Weaknesses B. Loyalty and Projected Profitability C. Growth and Relative Share D. Demographic and Behavioral
B. Loyalty and Projected Profitability
Netflix started out making licensed content available on DVD for US consumers who subscribed to the service. In which quadrant of the product-market expansion matrix does the company's expansion outside the US belong? A. Penetration B. Market development C. Product development D. Diversification
B. Market development
Which answer is NOT TRUE about Marketing ROI? A. Marketing ROI stands for Marketing Return on Investment B. Marketing ROI views marketing strictly as an expense C. Customer Lifetime Value is part of the Marketing ROI formula D. Marketing ROI takes customer acquisition costs into account
B. Marketing ROI views marketing strictly as an expense
Lending Club started out offering online personal loans to people with good credit scores. The organization struggled to expand into complementary products that would appeal to its existing customer base. From a Product-Market Expansion Framework standpoint, which type of growth strategy did Lending Club struggle to execute? A. Penetration B. Product expansion or development C. Market expansion or development D. Diversification
B. Product expansion or development
Which answer best describes what Acquisition Conversion measures? A. The effectiveness of marketing in creating awareness B. The effectiveness of marketing in converting awareness into consideration or trial C. The effectiveness of marketing in converting trial into repeat use or loyalty D. The effectiveness of marketing in driving advocacy
B. The effectiveness of marketing in converting awareness into consideration or trial
Which of these statements is NOT TRUE about the customer decision making process: A. The process crosses company provided and independent sites and sources of information B. The process is straightforward and linear C. The process is not straightforward, and customer often reach out for input at multiple points D. The various steps in the process can be considered touch points
B. The process is straightforward and linear
CocaCola's found out through Safeway store loyalty club card data which customers brought Stevia-based products. When they launched Coca-Cola life, the Stevia sweetened version of Coke, they sent announcements about the new launch to the Stevia buying customers. This is an example of what type of segmentation? -psychographic based segmentation -demographic based segmentation -behavioral-based segmentation -needs -based segmentation
Behavioral-based segmentation
Rice crispy cereal is known for the snap, crackle pop sound this cereal makes when milk is added. In fact, Kellogg's created characters name snap, crackle and pop to help promote the brand. Which answer completes this sentence best: Snap, crackle and pop are part of the rice crispies brand's... -vision -market development -brand equity -SWOT analysis
Brand equity
Lending Club originally offered online personal loans to people with a track record of paying their debts on time and who only took on as much debt as their income could support. What type of segmentation was Lending Club employing? A. Psychographic B. Demographic C. Behavioral D. Need
C. Behavioral
Having high awareness is an example of a brand's A. Opportunities B. Positioning C. Equity D. Vision
C. Equity
A marketing advantage to Facebook of adding "from FACEBOOK" to the Instagram app is: A. it insulates Instagram from Facebook B. It makes Instagram more appealing to potential users who don't like Facebook C. It allows Instagram's equity to flow to Facebook D. It more clearly distinguishes Facebook from Instagram
C. It allows Instagram's equity to flow to Facebook
Which answer best completes this sentence: The frame of reference is a description of: A. The audience for the product or brand B. How the product or brand aims to make customers' lives better C. The industry or category in which the product or brand competes D. The product or brand's relative market share
C. The industry or category in which the product or brand competes
New Coke threw out the secret Coke recipe and offered a sweeter drink that tasted more like Pepsi. Which type of customer should CocaCola have been most concerned about alienating by launching New Coke? A. Strangers B. Barnacles C. True Friends D. Butterflies
C. True Friends
During the Cola Wars, perceptions of CocaCola and Pepsi A. Were unchanged - the Cola wars held perceptions constant B. Became stronger - the Cola wars enhanced perceptions of both C. Were reversed - the Cola wars led consumers to view Pepsi more favorably than CocaCola D. Became weaker - the Cola wars diminished perceptions of both
C. Were reversed - the Cola wars led consumers to view Pepsi more favorably than CocaCola
If Apple acquired a wireless home sound system and platform called Sonos, which of these tactics is the most direct way for Sonos to get apple's reputation for intuitive innovation to flow to the Sonos brand? -changing their customer segmentation -changing their brand architecture -changing their pricing -changing their customer lifetime value calculation
Changing their brand architecture
Acquisition conversion measures how well marketing...
Converts awareness to trial
CocaCola acquired Costa Coffee, a global chain of specialty coffee retail locations, in 2018 after its 2014 divestiture of Keurig, maker of equipment for homemade coffee. Which answer below best explains the company's change of heart about the coffee category? -Costa Coffee is a question mark and Keurig was a dog -Keurig was a star and Costa Coffee is a question mark -Costa Coffee is a dog and Keurig was a cash cow -Keurig was a dog and so is Costa Coffee
Costa Coffee is a question mark and Keurig was a dog
Walmart wants to be accessible to customers wherever, whenever and however they want to buy. Which answer is NOT a reason to believe Walmart can deliver on this promise? -Walmart+ offers unlimited free delivery -customers can buy online and pick up in store -customers can buy online and have their order delivered -customer can buy clothing brands like Bonobo's and modcloth at Walmart
Customer can buy clothing brands like bonobos and modcloth at Walmart
Which of these is part of the calculation of marketing ROI? -acquisition conversion -aided awareness -customer lifetime value -market growth
Customer lifetime value
Which framework discussed in this module best explains why we are seeing so many brands like Birchbox, Office 365, Quip Toothbrushes, Dollar Shave Club, and others, offer subscription models? A. Positioning B. BCG growth share C. Brand architecture spectrum D. Customer lifetime value
D. Customer lifetime value
What quadrant of the Growth-Share matrix would Microsoft Windows belong in if the operating system category as a whole had virtually no growth and Windows has steadily lost market share relative to competitors? A. Cash Cow B. Star C. Question Mark D. Dog
D. Dog
A disadvantage of Procter & Gamble not having any visible connection to or between its product brands like Old Spice, Bounty or Charmin is: A. It can be difficult to extend into new categories B. It exposes the whole portfolio to risks from any one business C. It requires planning to avoid confusing customers D. It is expensive and requires marketing investment in each brand
D. It is expensive and requires marketing investment in each brand
This is an image of a universal TV remote control. Which of the 4 P's best describes how Netflix would think of its logo being a button on this universal remote? A. Price B. Product C. Profit D. Place
D. Place
Read this statement: Earnin is new financial tech startup that aims to help workers get cash advances without relying on traditional payday lenders and their high interest rates and fees. What would have to be added to this statement for it to be Earnin's positioning? A. Target audience B. Frame of reference or category C. Key benefit D. Reasons to believe
D. Reasons to believe
Which of these is a true statement about a SWOT analysis? A. The opportunities and threats are internal B. The strengths and opportunities are internal C. Everything is viewed from an internal perspective D. The strengths and weaknesses are internal
D. The strengths and weaknesses are internal
CocaCola's acquired all of coconut water brand Zico in 2013. Since then sales of the whole coconut water category have declined and Zico's revenues and relative market share have also declined. Based on just this information, which of the following would best describe where Zico fits in the Coca-Cola portfolio? -cash cow -hybrid -dog -butterfly
Dog
Amy Schumer is an American comedian with a 9.4 million followers in her Instagram account. She often mentions brands, products and content in general that she finds interesting, usually that drives inclusion or women empowerment. A recent post was about how great she finds the new HBO production "a black lady sketch show". For HBO, this post is an example of: -earned media -paid media -owned media -the intersection of owned and earned media
Earned media
Which of these statements is a way that a brand's equity affects its business? Brand equity... -boosts a company's market capitalization -enhances a company's ability to segment customers -increases a company's diversification -enhances a company's ability to attract top talent
Enhances a company's ability to attract top talent
Which of these is an example of a market development approach to growth? -Creating new products to sell to current customers -Selling current products to the same target customer group -Expanding into new geographic regions -Diversifying the product and market mix
Expanding into new geographic regions
Which of these is NOT a reason why understanding the customer journey is useful? -for segmenting customers by the steps they go through in deciding to buy -for designing marketing to reach and influence customers at their highest priority touch points in the decision making process -for defining the value proposition of the company and the financial and non-financial objective to be later deployed to marketing analysts -for deciding how to allocate future marketing spending to acquire new customers
For defining the value proposition of the company and the financial and non-financial objectives to be later deployed to marketing analysts
Which of these trends would not appear as an opportunity in a SWOT of video game Fortnite? -The introduction of next generation devices to play video games on -New business model supporting game streaming -rise of in game concerts and other events -Fortnights 350 million registered accounts
Fortnights 350 million registered accounts
Marketers have to be disciplined in their customer retention efforts. When it comes to barnacles, make up and beauty retailer Sephora 's marketing should aim to: -stay in their rotation and get sephors's fair share of their business -get them to pay full price at Sephora at least some of the time -turn them into advocates for the brand -avoid investing in them
Get them to pay full price at Sephora at least some of the time
Which of these is NOT typically a trigger for changing brand architecture? -growing relevance with customers -the addition of important new capabilities - M & A -changes in strategic direction
Growing relevance with color
Imagine you have and assignment to do a behavioral segmentation of spray paint buyers for a new brand of water-based eco-friendly spray paint that can safely be used indoors. Which one of the following variables would contribute to behavioral segmentation? -having kids or pets -having asthma -enjoying home improvement projects -having purchased liquid or spray paint in the past
Having purchased liquid or spray paint in the past
Wealthfront is a financial investment service that helps US residents with high disposable incomes to achieve their financial goals, not only because they have low fees, but because they have the PassivePlus technologic suite that uses AI to be the fastest in the market to trade. What is the key benefit? -is the fastest to trade -the AI suite called passive plus -helps achieve their financial goals -it has low fees
Helps achieve their financial goals
The color wars of the mid-1980s were difficult time for Coca-Cola and he tried tried multiple ways to regain relevance. Which of these did they NOT try? -Re-formulating the product to taste more like Pepsi -increase in marketing and promotional spending -lowering consumer pricing -hiring Michael Jackson to be their spokes person
Hiring Michael Jackson to be their spokesperson
Which of these questions is NOT addressed by a brand's value proposition? -Who are we? -What do we do? -How do we make money? -Why does it matter?
How do we make money?
An organization's vision is best defined to mean
How it aims to make customers' lives better
Which of these is NOT an appropriate way to complete this sentence: Driscoll's strawberries are sold fresh in grocery stores in many markets. Qualitative research would be a good option if Driscoll's marketers wanted to understand all of the following EXCEPT for: -Why consumers like strawberries -how consumer spend monthly at Safeway on strawberries -The occasions when consumers serve fresh strawberries -ways of improving the fresh strawberry purchase experience
How much consumers spend monthly at Safeway on strawberries
Which of these could be one of Amazons non-financial marketing objectives? -increase average size of customer orders on amazon.com -increase the percentage of customers who rate Amazon as a 'good corporation citizen' -increase customer purchase frequency on amazon.com -increase music sales to first-time buyers on amazon.com
Increase the percentage of customers who rated Amazon as "a good corporate citizen"
Inspire brands, a restaurant holding company, just announced the acquisition of the Dunkin chain of restaurants. With this deal, inspire adds Dunkin to its other restaurant brands, which includes sonic, Jimmy John's gourmet sandwiches, Buffalo wild wings and Arby's. The deal makes inspire the second largest US restaurant chain after McDonald's, which has one mega brand that spans its entire offering. Which answer below best describes the brand architectures of inspire and McDonald's? -they are both branded houses -inspire is a hybrid and McDonald's is a branded house -inspire is a branded house and McDonald's is a house of brands -inspire is a house of brands and McDonald's is a branded house
Inspire is a house of brands and McDonald's is a branded house
Inspire brands, a restaurant holding company, just announced the acquisition of the Dunkin chain of restaurants. With this deal, inspire adds Dunkin to its other restaurant brands, which includes sonic, Jimmy John's gourmet sandwiches, Buffalo wild wings and Arby's. The deal makes inspire the second largest US restaurant chain after McDonald's, which has one megabrand that spans its entire offering. Which answer below best describes the brand architectures of inspire and McDonald's? -they are both branded houses -Speier is a hybrid and McDonald's is a branded house -inspire is a branded house and McDonald's is a house of brands -inspire is a house of brands and McDonald's is a branded house
Inspires a house of brands and McDonald's is a branded house
I could his care about unaided awareness because it:
Is one indication of their Marketing's effectiveness
Brands that have been around a long time often find it challenging to remain relevant. Which of these tactics is one way Pepsi sought to increase its relevance with younger consumers during the cola wars of the 1980s? -it hired Michael Jackson, the king of pop, to be at spokesperson -it conducted blind taste test with consumers -they gave employees the day off when new Coke launched -it hired Bill Cosby, Americas dad, to be a spokesperson
It hired Michael Jackson, the king of pop, to be its spokesperson
Which of these is NOT true about brand equity? -It is another term for brand awareness -It includes memorability -It includes brand relevance and perceived usefulness -It is a combination of factors
It is another term for brand awareness
Read this statement about Amazon: as experts in e-commerce enablement, we help customers buy or sell anything they might want faster and cheaper so they have more time and money. Which of the marketing concepts below best fits this statement about Amazon? -it's Amazons value proposition -it's Amazons customer positioning -it's Amazons brand equity
It's Amazons value proposition
Amazon Web Services is the market leader in the fast growing cloud services business. Microsoft Azure is close behind Amazon. Google cloud is far behind Microsoft, with less than half its share. Which quadrant of the growth share Matrix does Google cloud belong in? -it's a cash cow -it's a question mark -It's a dog -it's a star
It's a question mark
Clorox has long had a dominant share in and been strongly associated in customer's minds with the slow growing bleach category. Given with this information tells about its position in the growth share matrix, until COVID, the brands key marketing challenge was to... -define its value proposition -maintain its relevance -maximize its customer lifetime value -deliver on it's vision
Maintain its relevance
In lecture, we saw that Microsoft has different products in different parts of the growth - share matrix. Currently, office is a cash cow. They are market leaders, but the market is growing very slowly. What should Microsoft marketers prioritize for office's marketing investment? -be attractive for acquisitions -increase awareness to become a star -build sustainable advantage -maintaining relevance
Maintaining relevance
Complete this sentence: reasons to believe: -make it credible the brand can deliver the positioning's key benefit -are in essential part of the organization's vision -are the key components of the value proposition -don't include table steaks
Make it credible the brand can deliver the positioning's key benefit
Last week, Louis Vuitton Moët Hennessy (LVMH) offered $14.5 billion to acquire jewelry brand Tiffany. LVHM already owns several high end jewelry brands and Tiffany appeals to a less exclusive consumer. Which growth strategy best describes what LVMH is pursuing with its acquisition of Tiffany? -diversification -market penetration -market development -product development
Market development
Recently, archer Daniel's Midland, a food commodities supplier, announced that it "will look to expand its global footprint into North America and other regions in the future." Currently, the business is focused outside North America. What type of growth strategy is Archer Daniels midland panning for its health and wellness business? -market penetration -product development -market development -diversification
Market development
Which of these is an advantage of a branded house approach to brand architecture? -maximizes marketing spending efficiency -maximizes messaging relevance -enables micro targeting -protects diverse businesses
Maximizes marketing spending efficiency
Which of these statements is NOT true about customer segmentation -More segments are always better -There is no right number of segments -An advantage of having more segments is the ability to message in ways that are more relevant to current and potential customers -An advantage of having fewer segments is the ability to message more efficiently by reaching more current and potential customers
More segments are always better
Company wants to attract customers who only choose them when there is a special offer available, the company should: -stay in the product rotation to get their fair share of category purchases -motivate them to pay full price at least some of the time - aim to turn them into advocates for the brand -be kept to a minimum
Motivate them to pay full price at least some of the time
If a company wants to attract customers who only use them when there is a deal or special offer (barnacles), they should: -stay in the product rotation to get their fair share of category purchases -motivate them to pay full price at least some of the time -aim to turn them into advocates for the brand -be kept to a minimum
Motivate them to pay full price at least some of the time
Which type of segmentation does Purina pro plan's positioning imply? (For a pet parents of pets with sensitive skin, Purina pro plan pet food insurance pets get the nutrition they need because it has only high-quality ingredients that are carefully chosen by pet nutrition experts) -demographic -psychographic -needs -based -behavioral
Needs -based
Which type of segmentation best describes marketing the iPad to families with young kids who have a hard time sitting still on their frequent long-distance road trips? -demographic -psychographic -needs-based -behavioral
Needs-based
Foster Farms chicken strips are marketed to the subset of parents who have a fussy eater in the family. Because chicken strips are fast and easy to prepare and serve, they make it easy so the family can still eat together even if they're not all eating the same thing. What type of segmentation is this? -psychographic based segmentation -demographic based segmentation -behavioral-based segmentation -needs -based segmentation
Needs-based segmentation
Which of these is NOT an example of owned media -Starbucks company designed BLM T-shirts for barista's to wear -Nikes "just do it " TV commercial -does YouTube channel that houses it's campaign for real beauty videos -Disney's California adventure
Nikes "just do it "TV commercial
Which of these answers is NOT an appropriate way to end this sentence? Financial marketing objectives: -describe the effect marketing will have on the top line -describe the effect marketing will have on the bottom line -should be SMART -Often include increasing customer satisfaction
Often include increasing customer satisfaction
Before Uber, long waits while trying to find an empty taxi cab or for one to arrive, unfriendly driver is taking the long route to increase the fair, and supposedly broken credit card readers that forced customers to pay with cash were typical of consumers' experience when taking taxi cabs in the USA. From the perspective of Uber, these facts represented: -opportunities in its SWOT analysis -behavioral variables in its customer segmentation -benefits and it's positioning -factors that made the business a cash cow
Opportunities in its SWOT analysis
Netflix recently acquired/purchased billboards in key locations in Los Angeles. When Netflix uses these billboards to promote its original programming during awards season, it is an example of using: -earned media -owned media -pain media to promote owned media -earned and owned media
Owned media
The controversy surrounding CocaCola's America the beautiful commercial that first aired during the TV broadcast of the Super Bowl in 2014 generated tremendous media coverage for Coca-Cola and the issues the commercial raised. This is an example of using which type(s) of media? -owned and paid media working together to increase their impact -owned and earned media working together to increase their impact -paid and earned media working together to increase their impact -paid media to maximize the messages reach
Paid and earned media working together to increase their impact
Allbirds is a shoe brand that used Nielson brand lift to analyze a campaign they ran on Spotify last spring. The company ran audio, video and display ads on Spotify to US users and reported a 4.7 X increase in brand awareness, 1.5 X increase in favorability and 6X increase in associations of the word "comfort" with the brand. This Allbirds campaign is an example of: -earned media -paid media -owned media
Paid media
Which is the key benefit in this statement: For pet parents of pets with sensitive skin, Purina pro plan pet food ensures pets get the nutrition they need because it has only high-quality ingredients that are carefully chosen by pet nutrition experts.
Pets get the nutrition they need
The defining dimensions of the Customer Relationship Group framework are
Potential profitability and projected loyalty
Imperfectfoods.com attracts customers because it promotes the reduction of food waste and sells direct-to-customers a wide range of blemished (imperfect) produce that traditional grocery retailers reject as unsellable. Based on just this information, which of the 4Ps is not explicitly part of their offering? -Price -place -promotion -product
Price
A key feature of chewie.com's offering is it customizable subscription plans where customers can choose how often to have their pet food delivered. Which of the 4Ps does offering a subscription plan fall into?
Product
During the pandemic, it has been difficult to create new episodes of dramatic series. As a result, content producers like Netflix are forced to consider new genres. If Netflix were to produce and distribute its first ever game show design to appeal to current subscribers on its platform, that would be an example of: -market penetration -product development -market development -diversification
Product development
Angie's list is a home service app that focuses on consumers who enjoy keeping their home up-to-date, subscribe to home decor newsfeeds and watch home decorating programs. This is an example of what type of customer segmentation? -psychographic based -market-based -values-based -demographic-based
Psychographic based
Which answer best completes the sentence: Marketing return on investment... -is not used to evaluate individual product launches or marketing campaigns -reflects the view that marketing does not belong solely on a company's balance sheet -reflects the view that marketing does not belong solely on the company's income statement -includes customer retention expenses in the numerator
Reflects the view that marketing does not belong solely on the companies income statement
Which answer best completes this sentence: Marketing return on investment, -is not used to evaluate individual product launches or marketing campaigns -reflects the view that marketing does not belong solely on a company's balance sheet -reflects the view that marketing does not belong solely on the company's income statement -includes customer retention expenses in the numerator
Reflects the view that marketing does not belong solely on the company's income statement
Tasting good is an important aspect of any food or beverage products positioning. If healthy snack company, kind, aimed for over 50% of its products to win blind taste test with consumers every year, it would be an example of: -Company mission -SMART objectives -integrated marketing -marketing research
SMART objectives
Which of the following is NOT a key part of the value proposition framework? -Who we are -what we do -target - why it matters
Target
Uniqlo is a Japanese clothing brand. Which of these is an example of a "place " tactic to drive conversion? -signing a contract with a Mexican fashion blogger to support their launch in Latin America -the new vending machines of their "ultralight " jackets at SFO airport -the most recent Japanese movie showing the lead actress in the Uniqlo Store -they decided to diversify their portfolio by geographical segmentation
The new vending machines of their "ultralight " jackets in airports
The product market expansion framework or matrix describes
The pathways to growth
Disney used it's Disney stores to support it's launch of Disney+ and drive sign-ups. Store employees wore necklaces with a QR code that shoppers could scan to purchase a Disney+ subscription right there in the store. What Disney was doing is an example of which marketing tactic? -The product P -the promotion P -the price P -the place P
The place P
Chipotle is a quick serve restaurant chain with goals and increasing transparency in our food supply chain and increasing the use of local, healthy ingredients in the restaurant industry. Getting the word out about the benefits of locally sourced ingredients is an example of which of the following: -brand advocacy -a financial marketing objective -the promotion P -acquisition conversion
The promotion P
Which of these is NOT TRUE about the 4Ps? -they are the tools marketers used to drive conversion down the funnel -they stand for product, promotion, price and place -they are also called the marketing mix -there are limited options within each P
There are limited options within each P
In Adrian Lanusse's talk, he discussed how Netflix views the impact on Netflix subscribers of emerging competition in streaming services. His description of the expected subscriber response to the entry of Disney+ suggest Netflix thinks of it subscribers as butterflies because: -they won't be tempted to try other streaming services -they will try other streaming services if they get a deal -they will leave Netflix if they can't find the content they want on it -they are likely to subscribe to Disney+ in addition to Netflix, not instead of it
They are likely to subscribe to Disney+ in addition to Netflix, not instead of it
Which of these statements is NOT TRUE about organizations with a highbred architecture? -They are rare -they often result from acquisition -they have some brands that are connected to the parent and others that stand alone -they leverage a strong master brand across the entire portfolio
They are rare
Which of these descriptions fits businesses in the Question Mark quadrant of the BCG Growth-Share matrix? A. They have high relative share in a slow growing or declining category B. They have high relative share in a fast growing category C. They have low relative share in slow growing or declining category D. They have low relative share in a fast growing category
They have low relative share in a fast growing category
How is acting on opportunities &/or threats useful in increasing brand relevance?
They help a brand tune in to its external environment
How do you product advisors like the north face jacket recommender help drive conversion?
They help customers quickly identify options that meet their needs
How do you touch points relate to marketing?
They help marketers shape customer perceptions
Which of these is true-Marketing creates value for the business by creating value for customers-Marketing aims to build relationships with customers-Marketers aim to make customers feel different when they use their products or services
They're all true
For universities offering remote instruction through zoom, the potential for massive Internet outages and denial of service attacks represent: -strengths -weaknesses -outcomes -threats
Threats
In thinking about a SWOT analysis, external factors include: -strengths -weaknesses -outcomes -threats
Threats
Which of these is a use of perceptual maps? -To describe how consumers view their options -To portray how investors see the competitive landscape -To determine which products will be most profitable -To evaluate a company's brand portfolio
To describe how consumers view their options
Which answer best describes a plausible objective for targeting Butterflies with New Coke? - To get them to become advocates for Coke - To get them to pay full price for Coke - To get them to choose Coke more often - To get them to realize there was something new about Coke
To get them to choose Coke more often
Pan teen, the hair care brand, has started a beauty salon program for their professional conditioner line. They are selling the products in beauty salons, and have a team of hairdressers that go from salon to salon giving a free conditioning treatment for the salons clients. Which part of the funnel is this tactic trying to influence? -advocacy -trial / purchase -loyalty
Trial / purchase
A type of customer that prefers one brand in a category and pays full price is called a: -barnacle -butterfly -stranger -true friend
True friend
Wealthfront is a financial investment service that helps US residents with high disposable incomes to achieve their financial goals, not only because they have low fees, but because they have the PassivePlus technologic suite that uses AI to be the fastest in the market to trade. What is the target audience in this positioning statement? -traders that use passive plus to be the fastest -financial advisors across the US -people looking for low fees -US residents with high disposable income
US residents with high disposable income
For people with sensitive skin, CeraVe is a clean skin care brand that customers can use without worry because CeraVe products use a gentle formula that's developed with dermatologists. What is CeraVe's key benefit? -people with sensitive skin clean skin care brand - use without worry -gentle formula
Use without worry
Airbnb creates a world where anyone can belong anywhere, providing healthy travel that is local, authentic, diverse, inclusive and sustainable. This is best described as Airbnb's: -offering -marketing strategy -value proposition -N/A
Value proposition
Google statement that it uses its expertise in Internet search to manage the worlds information so that it is universally accessible and useful is googles: -value proposition -customer segmentation -marketing strategy -brand architecture
Value proposition
Which ISN'T a part of the brand positioning statement? -Target -frame of reference - key benefit -value proposition
Value proposition
Which of these answers best describes one way that a brand's value proposition differs from its positioning? -value proposition has 3 components and positioning has 4 -value proposition includes who the target audience is -positioning includes the brands values -value proposition includes the brand's values
Value proposition has 3 components and positioning has 4
Archer Daniels Midland is a food commodities supplier that says "we unlock the power of nature to enrich the quality of life." This statement is the company's: -positioning -vision -marketing strategy -customer segmentation
Vision
Chipotle is a quick serve restaurant chain focused on increasing transparency in our food supply chain and increasing the use of local, healthy ingredients in the restaurant industry. This focus is an expression of chipotles: -vision -customer lifetime value -marketing mix -segmentation
Vision
Springboard is an e-learning based school founded on the insight that each of us is unique, and that our learning needs are, too. The company aspires to close the world's skills gaps. This aspiration is a statement of the company's: A. Vision B. Marketing mix C. Strengths D. Target Audience
Vision
Which ISN'T one of the four bases of segmentation? -psychographic -behavioral -volume -demographic
Volume
In a SWOT analysis of Facebook, where do it's repeated violations of users data privacy belong? -strengths -weaknesses -outcomes -threats
Weaknesses
Which of these questions is addressed by a product positioning? -what is the relevant competitive set? -when will the product break even? -in what channel will customers find the product? -how will the product be promoted?
What is the relevant competitive set
The classic value proposition framework includes three key elements. Which of these is one? -what we do how we price where we sell where we source around materials
What we do
Which of these might be the basis of a psychographic customer segmentation of Coca-Cola? -how often they buy soda, including Coca-Cola brands -the number of kids in their household -whether they regularly host frequent gatherings of family and friends -whether they are sensitive to hot beverages and seek cold caffeine instead of hot coffee
Whether they regularly host frequent gatherings of family and friends
A men's fragrance customer looking for a new scent sprays Chanel blue on his wrist in a store, likes it, and buys it with a coupon he found online. Based on just this information and what we know about marketing, it is most likely that this customer: -Will become a barnacle -has a high customer lifetime value -will become a true friend -will become a brand advocate
Will become a barnacle
Which of these could be one of Procter and Gamble's financial marketing objectives? -reach 90% unaided awareness for bounty -double the purchasing frequency of toothbrushes in emerging markets -increase pan teens website traffic -come in first place among suppliers in Walmarts customer satisfaction survey
double the purchasing frequency of toothbrushes in emerging markets
Last month, Facebook launched a dating service. It is aimed at Facebook members who are single, and the service is embedded inside the Facebook app. Which quadrant of the product market expansion matrix best describes Facebook's move into dating? -diversification -market penetration -market development -product development
product development