MKTG 4280 Exam 2

________ can also be thought of as an asset representing the value created by the relationship between the brand and its customers over time.

a. Brand equity b. Brand extensions c. Co-branding d. Brand loyalty e. Brand image a.

Which of the following is a secondary data collection method?

a. Conducting survey research b. Observing consumers c. Using annual reports d. doing ethnographic research c.

The first step in the marketing research process is:

a. Define the problem b. specifying the sampling procedures to be followed c. collecting primary data from available sources d. planning a research design a

Why did Howard Moscowitz say there was no perfect pepsi but there are perfect pepsies?

a. Different segements want different level of sweetness b. Different segements want to buy pepsi in different stores c. Different segements want different prices d. Different segements want different types of advertisement that speaks to them a.

________ represents a market entry strategy whereby one company permits a foreign company to make use of its patents, know-how, technology, company name, or other intangible assets in return for a royalty payment.

a. Exporting b. One-hundred-percent ownership c. A global strategic alliance d. Licensing e. joint venture d.

"Guanxi" is something to keep in mind if you are doing business in

a. India b. Japan c. south korea d. China e. Mexico d.

In which of the following ways does marketing research help managers?

a. It helps them ensure that secondary data do not influence marketing decisions b. It helps them serve their customers accurately and efficiently c. It helps them eliminate the use of big data for data analysis d. It helps them focus on quantity rather than quality of products b.

________ consists of evaluating each market segment's attractiveness and selecting one or more segments to enter.

a. Market targeting b. Market segmentation c. Positioning d. Mass customization e. Differentiation a.

________ 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. Segmentation c. Differentiation d. Targeting e. Positioning e.

Generally speaking, which of the following statements is true concerning product attributes?

a. Neither tangible nor intangible product attributes are important b. Intangible product attributes are more important than tangible ones c. Tangible product attributes are more important than intangible d. Both tangible and intangible product attributes are important e. A product has more attributes than tangible and intangible ones d.

Which of the following is not a characteristic of global strategic partnership?

a. Participants share control over the performance of the assigned tasks. b. Participants make ongoing contributions in technology, products, and other areas. c. Participants share benefits of the alliance. d. Participants maintain independence outside the framework of alliance. e. Participants agree not to compete in areas unrelated to the alliance. e.

________ shows consumer perceptions of a company's brands versus competing products on important buying dimensions.

a. Positioning b. Market targeting c. Perceptual positioning maps d. Differentiation e. Market segmentation c.

Which of the following is a difference between primary data and secondary data?

a. Primary data result in a mismatch between a researcher's unique problem and the purpose for which the data was collected, while secondary data result in no such mismatch. b. Primary data are data that have been previously collected, while secondary data are data that have been collected for the first time. c. Primary data are inexpensive and save time and money, while secondary data are expensive and more time consuming. d. Primary data can be maintained in secrecy, while secondary data are usually available to all interested parties for relatively small fees or free. d.

Which of the following offers a company the best assurance of being paid for exported goods?

a. a "piggyback" arrangement b. an in-house export organization c. a letter of credit d. a certified check e. a swap c.

When introduced in the late 1970s, the VCR created new patterns of consumer behavior. For example, assuming the user could learn to set the timer, he or she could tape programs to watch at a later time. DVD, a playback only video system, was introduced in the late 1990s. DVD discs contain full-length movies with digital sound in a format that resembles conventional music compact discs. Which of the following most accurately describes the respective degree of newness of these two global products?

a. The VCR and DVD are both continuous innovations b. The VCR is a discontinuous innovation; the DVD is a dynamically continuous innovation. c. The VCR and DVD are both dynamically continuous innovations. d. The VCR is a dynamically continuous innovation; the DVD is a discontinuous innovation. e. The VCR and DVD are both discontinuous innovations. b.

Disadvantages of joint venturing can include all of the following except:

a. a company incurs very significant costs by joint venturing. b. joint venture partners must share rewards as well as risks c. joint ventures can have the potential for conflict between partners. d. a dynamic joint venture partner can evolve into a strong competitor. e. joint ventures allow partners to achieve synergy. e.

The advantages of contract manufacturing include all of the following except:

a. access to technical specifications by local manufacturers b. considerable commitment of management resources. c. limited commitment of financial resources. d. access to technical specifications by subcontractors. e. a licensing firm can specialize in product marketing. b.

Which of the following types of duties would be imposed on a company whose home-country government provides export subsidies?

a. ad valorem duty b. countervailing duty c. antidumping duty d. customs duty e. specific duty b.

The process of global market segmentation begins with the choice of one or more variables to use as a basis for grouping customers. All of the following are variables that are commonly used except

a. behavioral b. polycentrics. c. psychographics. d. demographics. e. benefits sought. b.

The Intel Inside campaign promoting both the Intel Corporation and its Pentium-brand processors in conjunction with advertising for various brands of personal computers is an example of:

a. brand symbol b. brand loyalty c. brand equity d. co-branding e. brand extension. d.

Which of the following financing methods would be used by an exporter that enjoys good relations with a buyer in a well-established market?

a. cash in advance b. letter of credit c. barter d. open account e. arrival draft d.

An irrevocable letter of credit transfers the payment obligation for an export deal from the buyer to the buyer's:

a. checking account. b. freight forwarder. c. in-house export organization. d. credit union. e. bank. e.

Campbell Soup is making significant inroads into Japan's $500 million soup market as time-pressed homemakers place a premium on convenience. This type of consumer segmentation by Campbell Soup is referred to as ________ segmentation.

a. demographic b. psychographic c. occupational d. behavioral e. benefit e.

Delta Motorworks markets its cars based on the age, gender, and income of its customers. Which of the following types of market segmentation is evident here?

a. demographic segmentation b. psychographic segmentation c. occasion segmentation d. benefit segmentation e. geographic segmentation a.

When more information is needed about a problem and a tentative hypothesis needs to be made more specific, marketers usually conduct a(n) ____ research.

a. descriptive b. exploratory c. analytical statistical d. conclusive e. experimental b.

The sale of merchandise in export markets at unfair prices is known as:

a. dumping. b. transaction. c. ad valorem. d. countervailing. e. tariff. a.

In 2016, one of the largest merger and acquisition deals was the proposed acquisition of American agricultural giant Monsanto by Germany-based Bayer for $66 billion. This type of transfer is known as:

a. equity stake b. joint venture. c. greenfield investment. d. full ownership e. none of the above d.

Alfred Zeien, former chairman of Gillette, once noted that his company's Parker Pen unit does not have to develop a special model for Malaysia and Singapore because shoppers worldwide seek the same things when buying a gift that will serve the recipient as a status symbol. This insight relates to which level of Maslow's hierarchy of needs?

a. esteem b. self-respect c. physiological d. safety e. social a.

Which of the following receives a fee for bringing together an exporter and a buyer in another country?

a. export merchant b. freight forwarder c. export management company d. export broker e. foreign purchasing agent d.

The president of a Mexican company recently remarked, "Business in Mexico is done on a consensus basis, very genteel and sometimes slow by U.S. standards." A few months later, the Mexican company and its U.S. joint venture partner parted company. Judging by the president's remark, one important reason for the "divorce" was:

a. failure of one partner to live up to the terms of the contract. b. the U.S. government's insistence on quick negotiations. c. cultural differences d. the language barrier. e. the cancellation of NAFTA c.

Honda has invested $550 million in building an assembly plant in Greensburg, Indiana; IKEA spent nearly $2 billion to open stores in Russia; and South Korea's LG Electronics purchased a 58% stake in Zenith Electronics. All of these are examples of:

a. franchising b. Licensing c. acquisition. d. FDI. e. exporting. d.

Governments commonly use activities to support and encourage firms that engage in exporting. Such activities include all of the following except:

a. free trade zones. b. tax incentives. c. export assistance. d. subsidies. e. voting rights. e.

The benefits of strong brand equity include all of the following except:

a. greater loyalty b. more elastic consumer response to price decreases c. less vulnerability to marketing crises d. more inelastic consumer response to price increases e. more vulnerability to marketing action e.

Which of the following can negatively influence the rate of diffusion of an innovation?

a. high level of communicability b. divisibility c. high complexity d. substantial relative advantage e. high compatibility c.

A(n) _____ occurs when an organization uses one of its existing brands to brand a new product in a different product category

a. individual branding b. brand-licensing c. family branding d. new-product branding e. brand-extension e.

The fact that the barber must be present at the time to cut a customers hair is known as the ________ aspect of services

a. inventory b. intangibility c. inseparability d. inconsistency c.

The specialty retailing industry, as well as the fast-food industry, favors ________ for global growth.

a. licensing b. strategic alliances c. joint ventures d. franchising e. investment d.

A market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each is known as ________.

a. mass marketing b. concentrated marketing c. cross-marketing d. individual marketing e. differentiated marketing e.

Saab markets two luxury car models, both prized by drivers for their "quirkiness." About 30 percent of Saab's sales come from the United States, with most of the rest from Western Europe. Which strategy does Saab appear to be using?

a. none of the above b. country concentration/market segment diversification c. country diversification/market segment concentration d. country diversification/market segment diversification e. country concentration/market segment concentration e.

Malcolm is the campaign manager for a congressional candidate. He wants to know how voters across his district feel about recent sexual harassment scandals involving politicians. Malcolm will most likely use ________ to gather this type of data.

a. observation b. census data c. voter registration data d. surveys e. experiments d.

Gilron Holidays runs a premium membership club that caters to customers whose annual salary exceeds $100,000. Members of this club are offered seasonal discounts on select luxury hotels in select cities worldwide. Gilron Holidays most likely follows a(n) ________ segmentation approach.

a. occasion b. gender c. benefit d. geographic e. income e.

Each time you go to the grocery store and have your purchases scanned while using a loyalty or bonus reward card, you are contributing to a database that can help marketers determine all of the following except

a. other stores where you buy similar products. b. what a typical shopping list looks like. c. marketplace trends. d. what kinds of promotions might be attractive to you. e. whether changes in prices affect buying. a.

Packaging serves several important communication functions, which include all of the following except:

a. packaging enhances a consumer's brand experience. b. packaging engages the senses of a consumer. c. packaging enhances functional benefits of the product. d. packaging makes an emotional connection with the consumer c.

When a survey questionnaire in English is translated into Korean for use in South Korea and then translated into English, it is described as:

a. parallel translation. b. native translation. c. back-translation. d. incipient translation. e. comparative translation. c.

The only marketing mix element that is applicable in export selling is:

a. place. b. process. c. price. d. promotion. e. product. a.

Coca-Cola has expanded to Diet Coke, Cherry Coke, and Caffeine-free Coca-Cola, to name a few. These are examples of:

a. product bundling b. product modification c. brand extension d. line extension e. brand equity d.

Ben & Jerry's ice cream package design was changed in the United Kingdom since British consumers perceived the colors differently than U.S. consumers. This is an example of:

a. product invention b. product-communications extension. c. dual adaptation d. product extension-communications adaptation e. product adaptation-communications extension d.

Campbell's has been marketing soup in Japan for more than 40 years. Early on, Japanese consumers were not receptive to ads featuring the Campbell Kids and the "M'm M'm Good" slogan. This compelled Campbell's to develop ads featuring a talking soup can known as "Mr. Campbell." Campbell's also developed soup varieties for Japan with fish as the main protein source and spices that reflect local preferences. As described here, which of the following strategies has Campbell's used in Japan?

a. product-communications extension b. product-communication adaptation c. product adaptation-communications extension d. product invention e. product extension-communications adaptation b.

A recent study conducted by Estelle Cosmetics Company showed that heavy users of Estelle's products comprise a small percentage of the market. The study indicated that less than 7 percent of all shoppers buy nearly 71 percent of Estelle's products in the United States. This is an example of ________.

a. psychographic segmentation b. segmentation by usage rate c. occasion segmentation d. benefit segmentation e. segmentation by loyalty status b.

The management of Zilo Toys Inc., a toy manufacturing company, believes that the longer the customers spend deciding what to purchase, the less likely they are to purchase more items. In order to determine the average time customers spend in purchasing toys from the store, the management employs Tim to observe the customers as they discuss which toys to buy. He then reports his findings to the management. In this scenario, Tim is engaging in _____.

a. quantitative research b. survey research c. focus group research d. observation research d.

A nontariff barrier (NTB) includes all of the following except:

a. restrictive technical regulations. b. discriminatory procurement policies. c. restrictive administrative policies. d. ad valorem duty. e. quotas d.

When identifying global market segments, a fundamental guiding principle should be the need to determine:

a. shared demographic characteristics. b. similar geographic regions. c. similar needs and buying behavior. d. similar languages. e. similar ethnic backgrounds c.

Having partners from another country can have advantages which include all of the following except:

a. shared risks. b. access to capital c. securing technology d. increased competition e. reducing product development costs d.

What type of interview contains a small group of participants and a trained moderator that guides the conversation?

a. syndicated b. observational c. focus group d. sentiment e. panel c.

Marketing that involves creating the same marketing mix for a broad mass market of potential buyers is referred to as:

a. target benefit marketing. b. competitive global marketing. c. concentrated global marketing. d. standardized global marketing. e. differentiated target marketing. d.

The particular market-entry strategy that company executives choose depends on all of the following except:

a. the availability of investment capital. b. the possibility of significant adaptation. c. their attitude toward risk d. their vision. e. the amount of control sought b.

CRM tools allow companies such as Credit Suisse, AT&T, Hewlett-Packard and others to determine:

a. the use of credit cards for payment. b. the use of laptop computers by customers. c. amount paid by consumers in different countries. d. which customers are most valuable. e. warranty of products sold to consumers. d.

Examples of a "brand symbol" include all of the following except:

a. three-pronged Mercedes star b. date of manufacture on Coca-Cola cans c. non-word marks such as the Nike swoosh d. the wave that appears on red Coke cans and bottle labels e. McDonald's golden arches b.

The possible arrangements of the responsibilities for handling exports include all of the following except:

a. through an export partner affiliated with the domestic marketing structure. b. as a part-time activity performed by domestic employees. c. through an export department within an international division. d. through an export department that is independent of the domestic marketing structure. e. through an export department of an embassy in a foreign country. e.

Direct sensory perception provides a vital background for the information that comes from human and documentary sources since:

a. top executives are involved in getting firsthand information. b. it provides secondhand information c. it means firsthand seeing, feeling, hearing, smelling, and tasting. d. it involves reading and reviewing documents. e. it is easy and the most economical way of collecting data. c.