Unit 3 Practice Test
A genetics analysis software company has award-winning geneticists on its team and a number of recent patents to protect its intellectual property. Where do these two facts belong in the company's SWOT? A. Strengths B. Weaknesses C. Opportunities D. Threats
A
A management consultant who belongs to the Hilton, Hyatt and Marriott loyalty programs and likes them all equally chooses where to stay based on which one is closest to the client. Which quadrant of the Customer Relationship Group Framework does she fit in? a. Butterfly b. True Friend c. Barnacle d. Stranger
A
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: a. Will become a Barnacle b. Has a high customer lifetime value c. Will become a True Friend d. Will become a brand advocate
A
After almost doubling in size from 2019 to 2020, shoe manufacturer, Crocs announced one of its top priorities for 2021 will be to upgrade the quality of retailers in its partner network that sell its products in China. Which topic discussed in this module provides the least insight into the situation described here? A. Value proposition B. Customer decision process C. Product-market expansion D. Marketing objectives
A
Amazon started out as an ecommerce site selling books to consumers. It has evolved into an ecommerce enabler of other businesses, selling a wide range of B2B services including its AWS platform and services to corporate customers like Netflix and Airbnb. Which is the best answer for describing Amazon's expansion into B2B services? a. Diversification b. Product Development c. Market Penetration d. Market Development
A
Amazon's monthly Prime members pay $12.99/month. Assuming Prime members continue with the service an average of 10 years, what is the simple formula to determine the Customer Lifetime Value of a monthly Prime member? A. $12.99 * 12 * 10 B. ($12.99 * 12) / 10 C. $12.99 * 10 D. ($12.99 *10) / 12
A
Angies List is a home services app that focuses on consumers who enjoy keeping their home up to date, subscribe to home décor newsfeeds and watch home decorating programs. This is an example of what type of customer segmentation? a. Psychographic-based b. Market-based c. Values-based d. Demographic-based
A
Before Uber, long waits while trying to find an empty taxicab or for one to arrive, unfriendly drivers taking the long route to increase the fare, and supposedly broken credit card readers that forced customers to pay with cash were typical of consumers' experience when taking taxicabs in the USA. From the perspective of Uber, these facts represented: a. Opportunities in its SWOT analysis b. Behavioral variables in its customer segmentation c. Benefits in its positioning d. Factors that made the business a Cash Cow
A
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? a. = (12*$13*2) - $100 b. = ((12*$13)/2) - $100 c. = ((12*$13)-$100)/2 d. = (12*$13-$100)*2
A
By operating as a house of brands, Procter & Gamble is able to: A. Focus each brand's marketing on its target audience without considering the rest of the P&G portfolio brands B. Leverage the messaging of other P&G portfolio brands C. Benefit from the marketing spending efficiency a house of brands architecture affords D. Draw on the awareness of its existing brands to build credibility of new ones
A
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 Chipotle's: a. Vision b. Customer lifetime value c. Marketing mix d. Segmentation
A
Choose the best way to complete this sentence from the options given. Customer or buyer profiles describe: a. Customer hobbies, demographics and psychographics b. The physical appearance of the majority of customers c. The average discretionary income of customers d. The highest level of educational attainment of most customers
A
CocaCola acquired Costa Coffee, a global chain of specialty coffee retail locations, in 2018 after its 2014 divestiture of Keurig, a maker of equipment for homemade coffee. Which answer below best explains the company's change of heart about the coffee category? a. Costa Coffee is a question mark and Keurig was a dog b. Keurig was a star and Costa Coffee is a question mark c. Costa Coffee is a dog and Keurig was a cash cow d. Keurig was a dog and so is Costa Coffee
A
Complete this sentence: By segmenting customers, marketers... A. Are able to use the same messages and media to communicate with everyone in a segment B. Are unable to create specifically relevant messaging C. Are forced to spend their marketing budgets inefficiently D. Are able to use the same messages and media to communicate with all customers
A
Dove's Campaign for Real Beauty includes the Movement for Self Esteem to inspire moms and mentors to talk to girls about beauty, confidence and self-esteem. Dove's involvement in the Movement is an example of: a. A touchpoint b. A positioning c. A vision d. A frame of reference
A
Facebook has aggressively acquired brands to expand its offering beyond its Facebook social network, including Instagram, What's App, Oculus and others. There are rumors Facebook may be looking at acquiring new, audio platform Clubhouse, next. Facebook's architecture is an example of: A. A branded house that became a hybrid B. A house of brands that became a hybrid C. A hybrid that became a house of brands D. A hybrid that became a branded house
A
For adventure enthusiasts, Patagonia is the outdoor clothing and gear company that provides top-tier solutions that helps them enjoy wild and beautiful places through environmentally responsible products and a unique commitment to help reverse the steep decline in the overall environmental health of our planet. "This is Patagonia's: A. Brand positioning statement B. Value proposition C. Vision D. Customer segmentation
A
For teens and adults, Invisalign is the high-tech teeth straightening option that offers a way to achieve the smile they want without the physical and social discomfort of metal braces because only Invisalign provides removable, clear plastic aligners that gently shift your teeth into position. This statement is Invisalign's: A. Brand positioning B. Marketing ROI C. Value proposition D. SWOT
A
General Foods' aim to consistently have over 80% of company volume generated by brands in either the #1 or #2 position in their category is an example of: a. SMART objectives b. Company mission c. Integrated marketing d. Marketing tactics
A
Google's statement that it uses its expertise in internet search to manage the world's information so that it is universally accessible and useful is Google's: a. Value proposition b. Customer segmentation c. Marketing strategy d. Brand architecture
A
Imagine a consumer who has Discover, Visa and American Express credit cards in his wallet, and uses the Discover card everywhere it's accepted because it has the best terms. Because Visa is accepted more places than Discover, he makes most of his purchases with his Visa card. He has American Express in case of emergency because it has no spending limit. Which quadrant of the Customer Relationship Group framework would Visa classify this consumer in? a. Butterfly b. True Friend c. Barnacle d. Stranger
A
Imagine that a Chief Marketing Officer stated that "in the next year, our goal is to send our channel partners at least 250 inquiries of which at least 50% make an initial purchase of at least $1,500." This would be an example of: a. SMART financial metrics b. Not SMART financial metrics c. SMART non-financial metrics d. Not SMART non-financial metrics
A
Imagine you have an assignment to profile millennials who have traveled internationally on vacation in the past year. Which of the following would probably NOT be included in that profile? a. The type of car they own b. Where they prefer to stay when on vacation c. How long they their international trips usually last d. Age, income, education, and zip code
A
Imperfectfoods.com attracts customers because it promotes the reduction of food waste and sells direct-to-consumers 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? a. Price b. Place c. Promotion d. Product
A
In 2013, the Interbrand's Top 100 Global Brands reported dramatic changes in its rankings. CocaCola fell from the #1 most valuable global brand to #3. Which answer best explains CocaCola's fall in the rankings? a. Soft drinks dropped in popularity as consumers started connecting them to increased diabetes and obesity b. The brand started offering mini-cans of CocaCola to reduce the amount of sugar in its individual servings c. As a cash cow, CocaCola's low market share made its decline inevitable d. The acquisitions by CocaCola's parent company of Honest Tea, Monster and Keurig suggested an increased commitment to the soft drinks category
A
Innovaccer is a health tech company with an extensive offering of technology products and services to help everyone involved in health care serve patients better by enabling them to coordinate care. They offer a suite of applications called InGraph, InNote, InCare, InPatient360 that run on its Innovaccer Data Activation Platform. Based on just this information, Innovaccer's brand architecture is a: A. Branded house B. Hybrid C. House of brands
A
Innovaccer just announced the launch of its Health Cloud that includes pre-built applications and an innovation toolkit to allow customers to create their own solutions. This type of customization is an example of which of the 4 Ps? A. The Product P B. The Price P C. The Promotion P D. The Place P
A
Kiehl's is L'Oreal's offering in the fast-growing, highly fragmented men's grooming category where no company has high market share. Based on just this information, where does Kiehl's belong in the growth-share matrix? A. Question mark B. Cash cow C. Dog D. Star
A
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: a. Acquisition tactics b. Vision c. Customer lifetime value d. Retention tactics
A
Known mainly as a mass market milk chocolate brand in the US, the Hershey Company is closely associated with candy in consumers' minds. Given concerns about sugar and obesity, it is not surprising that the Hershey's brand is: A. Declining in relevance among American consumers B. Increasingly focused on US candy market penetration C. Able to charge a premium price D. Increasing in relevance among American consumers
A
Marketing ROI acknowledges that brand building is: a. An investment as well as an expense b. Exclusively a marketing activity c. An accounting responsibility d. Not quantifiable in dollar terms
A
Marketing Return on Investment reflects the view that marketing is not just an expense. Which measurement concept discussed this module is actually part of the calculation of Marketing ROI? A. Customer lifetime value B. Customer acquisition conversion C. Customer retention conversion D. Customer awareness
A
Most consumers fly on more than one airline. Which of these tactics might United Airlines try to increase purchase loyalty among air travelers? a. Create a better in-flight experience b. Run TV ads about United employees passion for customer service c. Get a celebrity spokesperson to be the face of the brand d. Sponsor a travel show on the Travel Network
A
Movie studio marketers have learned that Hispanic moviegoers tend to buy tickets in particularly large groups and that if they hook one family member, they can get an exponential result. As a result, many studios develop Hispanic-moviegoer specific marketing campaigns. Which type of customer segmentation is this an example of? a. Demographic b. Psychographic c. Behavioral d. Needs
A
Quixey is the born-mobile, next-generation search technology company that designs solutions for people to access the right information at the point of action so they can accomplish more on the go. In the statement above, "born-mobile, next-generation search technology company" is Quixey's: A. Special expertise B. Mission C. Tablestakes D. Touchpoints
A
Steve Jobs described Apple as motivated by the belief that people with passion can change the world for the better, and saw Apple products as enabling them to act on that passion. Pick the statement that best describes what Apple's beliefs do for the organization: a. Gives employees a shared sense of purpose b. Defines the industry they compete in c. Suggests the specific metrics that will be used to evaluate performance d. Describes the tactics used to achieve its goals
A
Tesla has been focused on creating a market for electric vehicles by building fun-to-drive, sleek cars loaded with safety technology. In a SWOT of Tesla, where would the emergence of viable, self-driving cars belong? A. They are an opportunity if Tesla joins in supplying them or a threat if Tesla fights against their emergence B. They are a strength or opportunity if Tesla joins in supplying them C. They are a strength if Tesla joins in supplying them or a weakness if Tesla fights against their emergence D. They are a weakness or a threat if Tesla fights against their emergence
A
The Apple Watch Series 4 launched with 3 versions, including a Nike cobranded watch. Which element of the marketing mix does the Apple Watch Nike+ belong in? A. Product B. Price C. Place D. Promotion
A
The Superbowl is an opportunity for marketers to reach millions of viewers at once. Superbowl ads like the Reddit commercial are typically aimed at... A. Increasing awareness B. Retention conversion C. Increasing loyalty D. Increasing profitability
A
The classic value proposition framework includes 3 key elements. Which of these is one? a. What we do b. How we price c. Where we sell d. Where we source our inputs
A
The classic value proposition framework includes 3 key elements. Which of these is one? a. What we do b. How we price c. Where we sell d. Where we source our raw materials
A
This year's Chipotle Superbowl commercial is an example of all of the following concepts discussed in this module except for one. Which one is it NOT an example of? A. Driving purchase transactions through a compelling deal B. Creating content to generate earned media C. Creating a motivating vision to inspire employees and customers D. Generating awareness of a brand and its offerings
A
Tinder is one of many dating apps and sites. It focuses on consumers for whom dating is a hobby and something they do for fun, not a search for a long-term relationship. This is an example of what type of customer segmentation? a. Psychographic-based b. Market-based c. Values-based d. Demographic-based
A
True or false: Managing brand equity is a brand manager's job but it's not completely within their control A. True B. False
A
Twitter acquired Vine before it even launched, and Vine rocketed to the top of the rankings in the Apple app store in early 2013 within weeks of its debut. According to a recent Wall Street Journal article, Twitter was never able to fully capitalize on Vine's popularity, never implemented a sustainable advertising model, and finally shut it down. Which of these answers best describes Vine' evolution from a Growth-Share Framework perspective? a. It looked like it was going to be a star, but lost share and became a question mark b. It looked like it was going to be a star, but growth slowed and became a cash cow c. It started out a question mark and ended up a cash cow d. It started out a cash cow and ended up a dog
A
UC Berkeley wants to increase the percentage of admitted students who choose to enroll. Which of these is a potential strategic initiative to achieve this objective? a. Announce admissions before other schools do instead of after b. Offer more campus tours for potential applicants c. Increase admissions of first generation college students d. Admit more students who are likely to already have offers from multiple schools
A
Which of the following is a marketing advantage of having all customer information in one integrated database? a. Greater insight by having a holistic view of customer relationships b. Reduced labor expense by simplifying data entry c. Better security by having only one database to protect customer information d. Streamlined programming by having only one database to pull customer information from
A
Which of these could be a financial marketing objective of Chipotle? a. Increase the average order size by 10% within 6 months b. Increase top of mind, unaided awareness by 3 percentage points c. Achieve a perfect score on safety inspections every time d. Increase the number of job applicants from Ivy League schools by 50% in the next recruiting season
A
Which of these is an advantage of a branded house approach to brand architecture? a. Maximizes marketing spending efficiency b. Maximizes messaging relevance c. Enables microtargeting d. Protects diverse businesses
A
Which of these is the best indication that a brand has strong equity? a. It has many consumers who share similar brand associations b. It has low top of mind awareness among target consumers c. It has the lowest prices of any brand in the category d. It has an award winning ad campaign
A
Which of these phrases would not be considered part of Dove's value proposition? A. For adults and kids B. Leading brand of personal care products C. Feel good in their own skin D. Clean and fresh feeling
A
Which of these questions is addressed by a brand's value proposition? a. What do we do? b. Who do we target? c. Where do we sell? d. What make us best?
A
Which of these questions is addressed by a product's positioning? a. What is the relevant competitive set? b. When will the product break even? c. In what channel will customers find the product? d. How will the product be promoted?
A
ebay is an online marketplace that equips buyers and sellers to find one another and accomplish transactions safely and efficiently. Imagine one of ebay's marketing objectives is to increase the average number of transactions completed on its properties by 90% in the next 12 months. This would be an example of a: A. SMART financial marketing objective B. Non-SMART financial marketing objective C. SMART non-financial marketing objective D. Non-SMART non-financial marketing objective
A
Adrien Lanusse shared with us how he learned early in his career that design impacts how consumers experience a product. He gave examples, including how the shape of a bottle or colors impact perceptions. Which concept discussed in this module best relates to these design choices: A. Value proposition B. Touchpoints C. Reasons to believe D. Marketing mix
B
Amazon-Go stores are a way for consumers to experience the brand in person. This type of pop-up is a way for brands to: A. Reduce its earned media B. Increase customer engagement C. Increase marketing efficiency D. Generate paid media
B
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: a. Positioning b. Vision c. Marketing strategy d. Customer segmentation
B
As Netflix views the market for its services, one promising segment includes consumers who have dropped their cable subscription. These "cord cutters" are best described as a segment based on: a. Demographics b. Behavior c. Psychographics d. Needs
B
Astro Teller, Captain of Moonshots, recently said that X's goal is making a moonshot factory for Alphabet to bring about things that are audaciously positive for the world. This is a statement about X's a. Marketing mix b. Value proposition c. Customer relationship grid d. Touchpoints
B
Choose the answer that best completes this sentence: Customer segmentation is particularly useful for a. Setting an organization's vision b. Developing marketing that is both efficient and relevant c. Conducting a SWOT analysis d. Applying the Growth-Share Matrix to an organization's portfolio
B
Clorox has long had a dominant share in and been strongly associated in consumers' minds with the slow-growing bleach category. Given what this information tells about its position in the growth share matrix, until COVID, the brand's key marketing challenge was to... a. Define its value proposition b. Maintain its relevance c. Maximize its customer lifetime value d. Deliver on its vision
B
Customer Lifetime Value is useful in informing: A. How likely a customer is to renew a subscription B. The most marketers should spend to acquire a customer C. How long a customer is expected to continue buying D. The least marketers should spend to acquire a customer
B
Domino's views itself as the worldwide leader in pizza delivery, and promises your pizza will be delivered warm. They designed the DXP delivery car with a built-in warming oven to help keep food warm while it's en route to a customer's home. Which of the 4 P's does the DXP belong in? (Note: there are only 3 choices) a. Price b. Place c. Promotion
B
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 designed to appeal to current subscribers on its platform, that would be an example of: a. Market penetration b. Product development c. Market development d. Diversification
B
Google Chief Executive Sundar Pichai recently said "our mobile properties like search, YouTube, maps and Google Play are where people turn when they're actively interested in something... they are prime time for the mobile world." In this statement, Google's target audience is best described as: a. Google Play users b. The mobile world c. You Tube users d. Maps users
B
Hermes is a luxury brand that sells a wide range of leather and other apparel items in its own stores and through other luxury retailers. Hermes also designs and includes a small number of more affordably priced silk scarves in each year's collection. From a customer decision making process standpoint, which part of the funnel are these more affordable silk scarves aimed at? A. Awareness B. Trial C. Loyalty D. Advocacy
B
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? a. Changing their customer segmentation b. Changing their brand architecture c. Changing their pricing d. Changing their customer lifetime value calculation
B
If a company has high "relative market share" in a category, it means.... A. The company's absolute share in the category is at least 50% B. The company has higher share than competitors in the category C. The company's offering in the category is a question mark D. The company can grow faster than its competition in the category
B
In a value proposition, the question of "who are we" is answered by articulating: a. The key aspects of our offering b. The capabilities or special expertise we bring to bear c. The customer need we address d. The end benefit we provide
B
In lecture, we talked at length about the challenges facing CocaCola in the 1980s. Which of these is a brand equity that brands like CocaCola invest in? A. SWOT analysis B. Building awareness C. Growing cash cows D. Relationships with Strangers
B
In many ways, Snapple is in the fashion business. It comes in 40 different flavors, and is known for the fun facts on the inside of the cap. Which of the 4 P's are Snapple's famed bottle caps an example of? a. Place b. Product c. Price d. Promotion
B
In this year's Superbowl, Paramount+ ran several ads promoting its programming and some of the characters and actors who appear in them, including Dora the Explorer, Sponge Bob Square Pants, Patrick Stewart, Steven Colbert, James Corden, Tom Selleck, and more. Paramount's objective in revealing all these programs are on its service was an example of A. Using its marketing mix to drive loyalty B. Using its brand architecture to drive subscriptions C. Using its awareness to drive retention conversion D. Using its value proposition to drive MROI
B
In which of these situations is secondary information most likely to be useful? a. When evaluating customers' willingness to recommend your product b. When evaluating the size and growth of a potential new market c. When determining the lifetime value of your customers d. When assessing the effectiveness of your marketing communications
B
Including the right people in research is one of the most important aspects of research design. Which of the following potential criteria do marketers typically use in screening research participants? a. Availability to participate in the research b. Interest in the product or category being explored c. Access to a smartphone d. Membership in one or more loyalty programs
B
Last year, FedEx announced its intention to acquire TNT, a Dutch ground package delivery service with an established door-to-door road network in Europe connecting more than 40 countries. Prior to the deal, FedEx only had an air delivery business in Europe and did not have a presence in the ground delivery business in these markets. According to the Product/Market Expansion matrix, what type of growth strategy is FedEx Europe pursuing with this acquisition? a. Market Penetration b. Product Expansion c. Market Expansion d. Diversification
B
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: a. Stay in their rotation and get Sephora's fair share of their business b. Get them to pay full price at Sephora at least some of the time c. Turn them into advocates for the brand d. Avoid investing in them
B
Mastercard's successful and long-running marketing campaign is: "There are some things money can't buy. For everything else, there's MasterCard." What does this slogan tell you about Mastecard's positioning? a. The target is things money can't buy b. The frame of reference is anything that money can buy c. Mastercard is exclusive and can only be used in a limited number of merchants d. The benefit is saving money
B
Match.com has about 21 million uses worldwide, 75% of whom use the free app. The rest pay an average of $24 per month for a 6-month subscription. A typical Match.com subscriber uses the paid app for 2 years. Based on just this information, which formula below is the simple calculation of a paying Match.com customer's lifetime value? a. $24 x 6 x 2 b. $24 x 6 x 4 c. $24 x 6 x 6 d. $24 x 6 x 12
B
Most companies have a brand architecture that is a: A. House of brands B. Hybrid C. Branded house
B
Netflix and CocaCola are both great companies and brands. Which of these answers describes an example discussed in this module in which they made different marketing decisions? A. CocaCola chose Michael Jackson to be its spokesperson to appeal to a new generation of consumers while Netflix doesn't use spokespeople B. CocaCola reversed its decision to launch New Coke in the face of consumer backlash while Netflix stood its ground on removing the star ratings when displaying its content C. Netflix did extensive research before changing its marketing while CocaCola relied more on its executives' impressions of what consumers wanted D. CocaCola let consumers decide what New Coke should taste like based on extensive taste testing, while Netflix lets the data decide.
B
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: a. Earned media b. Owned media c. Paid media to promote owned media d. Earned and owned media
B
One of the best tactics brands use to generate interest and word of mouth is: a. Market penetration b. Product development c. Diversification d. Market development
B
Salesforce is an example of a brand that has grown both acquisition and internal efforts. Which answer below best explains why Salesforce consistently eliminates the brands it acquires and folds them into the Salesforce brand? a. To maximize relevance to different customer groups b. To maximize marketing efficiency c. To retain the employees of the acquired company d. To retain the current Salesforce employees
B
Shopping mall owners are embracing a new Cirque du Soleil branded concept called CREACTIVE, that consists of frequently changing creative and participative family experiences that take place at shopping malls. Which answer below best describes how CREACTIVE fits with a shopping mall owner's marketing strategy? a. It's a tactic to raise shopping mall tenants' rent b. It's a way to increase visits to the mall c. It's a shopping mall's noble purpose d. It's a SMART action plan
B
Some consumers and legislators would like to reduce Amazon's market power by breaking it up. How might Amazon's brand architecture be an advantage to the company in fighting against such a decision? A. Amazon's branded house architecture makes it challenging to separate any of its businesses. B. Amazon's hybrid architecture links AWS and its business services brands to Amazon, making it challenging to separate them from Amazon's retail business C. Amazon's house of brands architecture makes it challenging to separate any of its businesses D. Amazon's hybrid architecture separates AWS and its business services brands from Amazon, making it easier to separate them from Amazon's retail businesses
B
Tasting good is an important aspect of any food or beverage product's positioning. General Foods' goal of having over 50% of its products consistently win blind taste tests with consumers every year is an example of: a. Company mission b. SMART objectives c. Integrated marketing d. Marketing research
B
Tasting good is an important aspect of any food or beverage product's positioning. If healthy snack company, KIND, aimed for over 50% of its products to win blind taste tests with consumers every year, it would be an example of: a. Company mission b. SMART objectives c. Integrated marketing d. Marketing research
B
The Robinhood app has become popular with millennials, and due to its easy navigation and accessibility, the company believes that individuals who are interested in buying and selling stocks and are beginners will find it app to be their go-to.Based on just this information which of these types best describes Robinhood's basis for segmenting customers? A. Demographic B. Psychographic C. Behavioral D. Needs-based
B
The classic positioning has 4 components. Which of these is one of them? a. Mission b. Reasons to believe c. Opportunities d. Question mark
B
True or false: The decline in the number of movie theater screens, innovation in the movie making technology and special effects, and the increase in the number and variety of entertainment streaming services are all indications that content producers of original filmed entertainment like Disney and Netflix have been losing brand relevance. A. True B. False
B
What is the farthest stage in the Tesla marketing funnel that a car buyer who test drives a Tesla and then buys an electric BMW reaches? a. Purchase b. Consideration c. Aided awareness d. Advocacy
B
Which is an example of a SMART financial marketing objective? a. Be included in Interbrand's Top 100 Global Brands b. Increase unit sales 17% within 3 years c. Generate more sales from new products d. Increase brand's positive word of mouth
B
Which marketing tactic is most directly aimed at driving brand consideration or trial? a. Banner ads b. Coupons, sales and discounts c. Billboards d. Sponsorship of events or individuals
B
Which of the following is the clearest example of Netflix efforts to increase market penetration? A. Licensing the latest Spiderman movie B. Renewing the license for "Friends" in the US market for another year C. Offering its service in India D. Discontinuing DVDs by mail
B
Which of these approaches best describes what Dove did to gain its original insight about women's self-image? A. Conducted 2 dozen focus groups with women B. Conducted focus groups and surveys with women in 10 countries C. Relied on third party research about the global beauty industry D. Conducted online surveys of women globally
B
Which of these could be a NON-FINANCIAL marketing objective of Twitter: a. Increase advertising revenue per user b. Improve tweet searchability c. Generate sponsorship revenue d. Grow Twitter's user base
B
Which of these could be one of Amazon's non-financial marketing objectives? a. Increase average size of customer orders on amazon.com b. Increase the percentage of consumers who rate Amazon as 'a good corporate citizen' c. Increase customer purchase frequency on amazon.com d. Increase music sales to first-time buyers on amazon.com
B
Which of these could be one of Gap, Inc's non-financial marketing objectives? a. Increase the average transaction size in Gap stores and websites b. Increase the percentage of consumers who rate Gap as 'very innovative' c. Increase the number of transactions per day at Gap stores and websites d. Decrease the number of product returns
B
Which of these is an effective way of building customer engagement? A. SWOT B. Touchpoints C. Product-market expansion framework D. Customer lifetime value
B
Which of these trends might appear as a Threat in a SWOT of Fairlife, Coca-Cola's new line of filtered protein- and calcium-enriched milk that is low in sugar, and lactose- and fat-free? a. Increased interest in better-for-you products b. Increased interest in vegan diets c. Increased interest kids' healthy body image d. Increased interest in all protein diets
B
ebay is an online marketplace that equips buyers and sellers to find one another and accomplish transactions safely and efficiently. The company aspires to create an inclusive and equitable global economy for all its buyers and sellers. This is an example of ebay's A. Integrated marketing B. Vision C. Promotion P D. Brand architecture
B
4. What is another term for the 4 P's? a. Positioning b. Value proposition c. The marketing mix d. Brand Vision
C
A brand's value proposition answers three key questions. Which of these is NOT one of them? a. Who are we? b. What do we do? c. How do we do it? d. Why does it matter?
C
A customer consistently goes out of his or her way to buy Apple products and pays full price. Which customer relationship group describes this customer best? a. Butterflies b. Barnacles c. True Friends d. Strangers
C
Adrien Lanusse described the fact that Netflix makes it easy for customers to cancel the service as one way the company maintains its focus on customer satisfaction. Where would "we make it easy to cancel the service" fit in Netflix' marketing? A. It answers the "why it matters" part of the Netflix value proposition B. It's a promotion in the Netflix marketing mix C. It's a reason to believe in Netflix brand positioning D. It's part of Netflix customer segmentation
C
Apple's success with the iPhone has funded many of its other investments. Smartphone category growth has slowed, and Apple continues to have high share. Which quadrant of the Growth Share Matrix for Apple does the iPhone fall in? It's a dog It's a star It's a cash cow It's a question mark
C
Ben and Jerry's is a company with a history of supporting causes including criminal justice reform, Black Lives Matter and more. They introduced Pecan Resist ice cream to protest the Trump administration's regressive and discriminatory policies and used their Instagram account to promote the flavor and the cause. This is an example of a company promoting its products by: A. Using paid media B. Using earned media C. Using owned media
C
Brands that have dominated their categories for a long time often become ignored by customers. From a marketing standpoint, the challenge is: a. Market penetration b. Market development c. Brand relevance d. Customer segmentation
C
Businesses in different quadrants of the Growth-Share Matrix receive different levels and types of marketing investment. If you're working in a Star business like Amazon Web Services (AWS), you are likely to a. Have a smaller marketing budget than colleagues working the Question Marks like the Echo b. Focus your marketing on increasing AWS's market share c. Focus your marketing building sustainable advantage d. Focus your marketing spending on growing the market for AWS services
C
By acquiring the Regency Billboard company, Netflix: A. converted what had previously been paid media into earned media B. converted what had previously been paid media into owned media C. increased its paid media expenses D. did not impact its media spending
C
Chipotle is a quick-serve restaurant chain with goals of 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: a. Brand advocacy b. A financial marketing objective c. The Promotion P d. Acquisition conversion
C
Choose the best way to complete this sentence from the options given. Buyer profiles are useful because they help marketers: a. Address gaps in their product and service offering b. Set pricing to maximize profitable growth c. Place their marketing where potential customers are most likely to see it d. Hire the most talented job applicants for their marketing team
C
CocaCola 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 CocaCola portfolio? a. Cash cow b. Hybrid c. Dog d. Butterfly
C
Complete this sentence: Brand equity flows between brands that... A. Have the same value proposition B. Have the same frame of reference C. Are linked D. Are not linked
C
Domino's Pizza changed its name recently to Domino's. Which quadrant of the Product/Market Expansion matrix, does its name change suggest that Domino's pursuing? (Note: there are only three options offered) a. Market penetration b. Market expansion c. Product expansion
C
Domino's views itself as the worldwide leader in pizza delivery. They designed the DXP delivery car with a built-in warming oven to help keep food warm while it's en route to a customer's home. Which part of Domino's home delivery positioning does the DXP belong in? a. SMART objectives b. Mission c. Reasons to believe d. Target audience
C
Ferrari aspires to be a lifestyle luxury brand. Which of the following potential moves would NOT be a proof point of the brand's lifestyle positioning? a. Opening Ferrari World theme parks b. Selling a line of Ferrari fragrances exclusively at Neiman Marcus department stores c. Selling a line of Ferrari-branded tube socks at JC Penney d. Competing in Formula 1 racing
C
For people with sensitive skin, CeraVe is a clean skincare 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? a. People with sensitive skin b. Clean skincare brand c. Use without worry d. Gentle formula
C
General Mills has reformulated many of its cereal products by removing artificial flavors and colors in order to appeal to new consumers who care about natural ingredients. According to the Product/Market Expansion matrix, what type of growth is this? a. Market Penetration b. Product Expansion c. Market Expansion d. Diversification
C
If your company announced that it was going to start tracking employee happiness each year based on job satisfaction with a goal of at least a 3% increase year over year, it would be an example of a: A. SMART financial metric B. Not SMART financial metric C. SMART non-financial metric D. Not SMART non-financial metric
C
Imagine that this was one of the marketing objectives of fitness brand, Peloton: "Increase the percentage of Peloton equipment orders that include the purchase of an extended warranty". Which of these would this marketing objective be an example of? A. SMART financial marketing objective B. SMART non-financial marketing objective C. Not-SMART financial marketing objective D. Not-SMART non-financial marketing objective
C
In lecture, we discussed how valuable it can be for brands to have customers share or talk about their content on social media. Nike, Sephora and Dove are among the examples we discussed. Which of these terms best describes this phenomenon of customers helping to extend a brand's marketing? A. Paid media B. Owned media C. Earned media D. Advertising
C
Marketers use a variety of qualitative research techniques to gain insight into current and prospective customers. Which of these is a methodology for conducting qualitative research? a. Telephone surveys b. Online surveys c. Focus groups d. Behavioral tracking
C
Quixey is the born-mobile, next-generation search technology company that designs solutions for people to access the right information at the point of action so they can accomplish more on the go. The statement above is Quixey's: A. Brand positioning B. Marketing ROI C. Value proposition D. SWOT
C
Read this theoretical positioning statement for Snapchat's advertising business: For advertisers looking to reach tightly knit communities, Snapchat is an exciting new social ad platform that delivers higher engagement and conversion because only Snapchat presents personal, tiny, disappearing messages that mimic real conversations. Which of these is a differentiating reason to believe Snapchat can deliver higher engagement and conversion? a. It reaches tight knit communities b. It is aimed at advertisers c. It presents personal, tiny, disappearing messages d. It's a new social ad platform
C
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 Lindsay's acquisition conversion? a. 39/62 b. 39/75 c. 62/75 d. (62-39)/75
C
Recently, Archer Daniels 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 planning for its health and wellness business? a. Market Penetration b. Product Development c. Market Development d. Diversification
C
Rice Krispies cereal is known for the Snap, Crackle Pop sound the cereal makes when milk is added. In fact, Kellogg's created characters named Snap, Crackle and Pop to help promote the brand. Which answer completes this sentence best: Snap, Crackle and Pop are part of the Rice Krispies brand's... a. Vision b. Market development c. Brand equity d. SWOT analysis
C
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: a. Its diversification growth strategy b. Its star business c. A high impact touchpoint d. Its butterfly customers
C
Scandals can hurt a company badly - stock prices drop, lawsuits are filed, people lose their jobs. Which of the tactics listed below is a way companies try to insulate their product brands from scandals affecting other brands in the portfolio and the corporate brand? a. Using the company name in product brand names b. Using the company name to endorse product brand names c. Using product brand names that are not linked or related to the company name d. Using celebrity spokespeople as the face of the brand
C
TOMS is motivated by the belief that they can improve people's lives through business. Pick the statement that best describes what TOMS mission does for the organization: a. Defines the industry they compete in b. Details the specific metrics that will be used to evaluate performance c. Motivates employees and attracts recruits d. Details the tactics used to achieve its goals
C
The Netflix basic subscription has fewer features and is cheaper than all its other streaming options to appeal to customers who like Netflix but won't pay full price. In terms of the customer relationship matrix, this plan appears aimed at serving which type of customers? a. Butterflies b. Strangers c. Barnacles d. True Friends
C
The best way of those listed below to determine unaided awareness of Netflix's streaming service would be to ask consumers of streaming services: A. If they have heard of Netflix B. If they have ever subscribed to Netflix C. To list the names of all the streaming services they have heard of D. To select the names they recognize from a list of streaming services
C
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 CocaCola and the issues the commercial raised. This is an example of using which type(s) of media? a. Owned and paid media working together to increase their impact b. Owned and earned media working together to increase their impact c. Paid and earned media working together to increase their impact d. Paid media to maximize the message's reach
C
TripIt Pro is a paid app that creates integrated travel itineraries automatically combining flight, hotel, and car reservations, and is highly popular among frequent travelers. Which of these tactics is the best option for growing TripIt Pro's revenue and user base? a. Free 3-month subscription for first time buyers to drive trial b. Discounts for repeat buyers to encourage renewals c. Discounts for members who buy TripIt Pro for family and friends d. Sponsorship to increase awareness
C
Uber capitalized on the insight that there are many pain points associated with using traditional taxis: Long waits while trying to find an empty cab, unfriendly drivers using every trick they know just a these to drive up the fare, and "broken" credit card readers that force you to pay with cash are few of the difficulties. Which of these answers best describes the best way to obtain insights: a. From taxi driver suggestions b. From taxi company websites c. From primary research with taxi cab users d. From Mintel packaged research on ride sharing
C
Vital Vittles is a Berkeley-based bakery that makes hand-made bread from organic ingredients. They are considering offering a subscription, where customers would pay $20/month to have a loaf of the fresh bread of their choice delivered to their home each week. If the cost to acquire a subscriber is $50 and assuming the average customer renews for 5 years, the expected customer lifetime value equation is: A. $50-($20*12*5) B. ($20*12)-($50*5) C. ($20*12*5)-$50 D. $20*5)-$50
C
Which answer best completes this sentence: Marketing Return on Investment, a. Is not used to evaluate individual product launches or marketing campaigns b. Reflects the view that marketing does not belong solely on a company's balance sheet c. Reflects the view that marketing does not belong solely on the company's income statement d. Includes customer retention expenses in the numerator
C
Which brand is doing better at retention conversion? (Note: there are only 3 choices) a. Both brands are performing equally on retention conversion b. Cars.com c. TrueCar
C
Which element of the marketing mix are CocaCola-branded vending machines on campus at Berkeley? A. Product B. Price C. Place D. Promotion
C
Which is the best example of a demographic segmentation variable? a. Personality traits b. Pain points or needs c. Household income d. Hobbies
C
Which is the most direct, straightforward way to answer this question: Customer lifetime value is a useful input into customer acquisition decisions because it suggests ... a. Which customers to target b. Which marketing vehicles to invest in c. The maximum to spend to acquire a customer d. New market opportunities
C
Which of the following is NOT an example of an earned media metric for Dove? A. The number of times its videos are shared per month B. The number of new reviews of its products on Amazon per month C. The number of Facebook ads it places per month D. The number times its content is mentioned in newspaper and magazine articles per month
C
Which of the following is the clearest example of Netflix efforts at market development? A. Licensing the latest Spiderman movie B. Renewing the license for "Friends" in the US market for another year C. Offering its service in India D. Discontinuing DVDs by mail
C
Which of these concepts is not included in the calculation of Marketing ROI? A. Customer acquisition cost B. Marketing expense C. Retention conversion D. Customer lifetime value
C
Which of these could be one of Match.com's financial objectives? a. Result in more marriages than all other dating sites/apps b. Be seen as the most trusted dating site/app c. Increase the number of users that renew their subscription d. Have the most users of any dating site/app
C
Which of these is an example of the Apple 's use of the Place lever in marketing the Apple Watch? a. Running a 12-page ad in Vogue b. Offering three versions and multiple watchbands at launch c. Only allowing pre-orders on apple.com d. Having several mobile apps adapted for the Apple Watch at launch
C
Which of these is the best way to learn why consumers are canceling their subscription to Comcast's cable TV service? a. Conduct an online survey of customers who recently canceled their Comcast subscription b. Conduct an online survey of customers who recently upgraded their Comcast subscription c. Conduct focus groups with customers who recently canceled their Comcast subscription d. Analyze social media postings about cable TV providers
C
Which of these is used to help companies explicitly think about how to grow? A. Growth-share matrix B. Customer relationship groups C. Product-market expansion D. MROI
C
Which of these might be the basis of a psychographic customer segmentation of CocaCola? a. How often they buy soda, including CocaCola brands b. The number of kids in their household c. Whether they regularly host frequent gatherings of family and friends d. Whether they are sensitive to hot beverages and seek cold caffeine instead of hot coffee
C
Which term refers to the movement of customers from one stage in the decision making process to another? a. Awareness b. Positioning c. Conversion d. Value Proposition
C
Whole Foods new chain of stores is targeting the subset of millennial consumers who are interested in affordable natural and organic products made or raised with the quality standards Whole Foods is known for. Based on just this information, what type of segmentation underlies the new chain's positioning? a. Demographic b. Behavioral c. Psychographic d. Price sensitivity
C
Why is it useful to know which consumers have considered but not purchased your product? A. It allows you to measure retention conversion B. It allows you to design programs to increase purchase frequency C. It allows you to retarget them with coupons to drive trial D. It allows you to calculate your return on marketing investment
C
A brand's equity includes several different facets. Which of these is NOT typically considered a brand equity? A. The brand's founder, characters, or slogans B. The associations people have of brand C. The level of brand awareness D. The brand's marketing ROI
D
A company with a branded house architecture means its portfolio: A. Is made up of brands that have no easily detectable connections to one another B. Is made up of brands, some of which have a easily detectable connection to one another C. Is made up of brands, most of which have a easily detectable connection to one another D. Is made up of brands that all have easily detectable connections to one another
D
A customer chooses which airline to fly solely based on which has the lowest price. Which option best describes marketers' objective relative to this customer? a. Invest to get their fair share of this customer's airline business b. Invest to turn this customer into an advocate for the brand c. Invest to make the customer profitable d. Avoid investing in this relationship, and aim to make money on every transaction
D
A recent Wall Street Journal article discussed the ways public schools are using marketing to convince parents and students that they offer an education that's as good as or better than charter schools. It specifically mentions examples of public schools creating single-gender campuses, offering enhanced fine-arts programs, creating campuses focused on engineering and biotechnology. These programs fit in which aspect of a public school's positioning: a. They are the target b. They are the frame of reference c. They are the key benefit d. They are reasons to believe
D
Businesses in different quadrants of the Growth-Share Matrix receive different levels and types of marketing investment. If you're working in a low-growth, high share business like Nestle's Nesquik, you are likely to a. Have a smaller marketing budget than colleagues working the Question Marks b. Focus your marketing on increasing market share c. Focus your marketing building sustainable advantage d. Focus your marketing spending on ensuring relevance
D
By partnering with Cirque du Soleil to offer CREACTIVE, which of these key marketing concepts or frameworks are shopping mall owners pursuing? a. Measuring brand value b. Applying SMART metrics c. Applying the product/market expansion matrix d. Leveraging a partner brand's equity
D
Fairlife is Coca-Cola's new line of filtered protein- and calcium-enriched milk that is low in sugar, and is lactose- and fat-free. Which of these is LEAST LIKLEY to be a market for Fairlife milk? a. Consumers on a high-protein diet b. Consumers taking calcium supplements c. Lactose intolerant kids d. Consumers on a high-fat diet
D
For universities offering remote instruction through Zoom, the potential for massive internet outages and denial-of-service attacks represent: a. Strengths b. Weaknesses c. Outcomes d. Threats
D
H&M advertises that its business concept is "fashion and quality at the best price in a sustainable way". They have collaborated with many high-end designers including Jimmy Choo, Versace, Alexander Wang, and several fashion icons including David Beckham, Madonna and Beyonce. What role do these collaborations play in H&M's positioning? a. They are indicative of the target b. They are the key benefit c. They are the frame of reference d. They are what makes it believable
D
If one of Amazon's marketing objectives were to increase e-commerce revenue, an example of a strategic initiative to achieve this objective would be to: a. Reward customers for writing product reviews b. Drive more traffic to the website c. Give customers the option of picking up their orders d. Increase the number of orders placed on the website
D
Imagine you have an 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 a behavioral segmentation? a. Having kids or pets b. Having asthma c. Enjoying home improvement projects d. Having purchased liquid or spray paint in the past
D
Imagine you have an assignment to profile car buyers over age 65. Which of the following would probably NOT be included in that profile? a. Whether they are retired or still working b. How many miles per month they put on their current car c. Their reasons for having a car d. Whether they have pets
D
In Adrien 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+ suggests Netflix thinks of its subscribers as Butterflies because: a. They won't be tempted to try other streaming services b. They will try other streaming services if they get a deal c. They will leave Netflix if they can't find the content they want on it d. They are likely to subscribe to Disney+ in addition to Netflix, not instead of it
D
In the US, family size has been declining for years, and there are more adults living alone now than ever before. For manufacturers of packaged sliced bread, who rely on families with young kids to drive demand for their products, this fact is a: A. Strength B. Weakness C. Opportunity D. Threat
D
In the customer relationship group framework, "potential profitability" refers to the likelihood that a customer will A. Spend a lot B. Pay in cash C. Refer a friend D. Pay full price
D
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 include Sonic, Jimmy Johns 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? a. They are both branded houses b. Inspire is a hybrid and McDonald's is a branded house c. Inspire is a branded house and McDonald's is a house of brands d. Inspire is a house of brands and McDonald's is a branded house
D
Last year, Nestle sold its US candy business. The company cited slow candy category growth compared to other opportunities and the brand's modest relative market share as the main reasons for exiting the business. Given just this information, in which quadrant of the Growth-Share matrix did Nestle view its US candy business? a. Star b. Cash Cow c. Question Mark d. Dog
D
Marketers are often interested in understanding the consumers who buy or use their products or services most frequently. Which of these is NOT a way for Epic Games (the maker of Fortnite) to identify which consumers are "heavy users" of Fortnite: a. Observe how often they open the Fortnite app b. Observe their daily Fortnite play time through the company's app metrics c. Ask consumers in a survey how often they play various games, including Fortnite d. Ask consumers in a survey what they think of Fortnite
D
Marketing is responsible for segmenting markets and identifying target customer segments. Which of the following statements is NOT true a. Customer segments can be defined based on shared demographics, attitudes, needs or behaviors b. Customers in a segment are likely to respond to marketing in a similar way c. Customers in different segments are likely to respond to marketing differently d. Having more customer segments makes marketing more efficient by allowing marketers to spread their marketing expenses over a larger number of consumers
D
Netflix has evolved from a DVD mail order business to a streaming entertainment brand to a creator of original entertainment content. From a positioning standpoint, these are changes in Netflix: a. Reasons to believe b. Key benefit c. Target audience d. Frame of reference
D
Nissan's Marketing Director said recently that "We have found that advertising is only so effective in driving Nissan Titan sales," As a result, he announced that the 2017 Nissan Titan will come with a five-year, 100,000-mile bumper-to-bumper warranty—coverage that far exceeds what rivals are offering—to highlight the new model's reliability. In terms of the Marketing Mix, this decision illustrates how Nissan is using the: a. Price and Place aspects of the marketing mix to maximize Nissan Titan sales b. Product and Price aspects of the marketing mix to maximize Nissan Titan sales c. Product and Place aspects of the marketing mix to maximize Nissan Titan sales d. Promotion and Product aspects of the marketing mix to maximize Nissan Titan sales
D
Offering new Netflix customers a 30-day free trial is an example of: A. The Promotion P B. A loyalty tactic C. A paid media tactic D. The Price P
D
Pepsi staged a huge celebration on the day CocaCola announced New Coke calling the launch an admission that Coke needed to be improved. This is an example of a company attempting to: A. Generate owned media B. Generate paid media C. Generate good will D. Generate earned media
D
Robinhood's value proposition might include which of the following phrases: A. The app is accessible and easy to navigate B. Better than TD Ameritrade and Fidelity C. For day traders D. Even beginners can trade like pros
D
The CocaCola Company has a number of soft drink and other beverage brands with little or no connection to the CocaCola product brand. One advantage of this approach to managing its brands is: a. It facilitates transferring equity from CocaCola to the other brands b. It prevents the ColaCola brand from becoming insulated c. It maximizes the organization's marketing efficiency d. It avoids having those product brands affected by the CocaCola brand's equity
D
The Cola Wars of the mid-1980s were a difficult time for CocaCola and it tried multiple ways to regain relevance. Which of these did they NOT try? a. Reformulating the product to taste more like Pepsi b. Increasing marketing and promotional spending c. Lowering consumer pricing d. Hiring Michael Jackson to be their spokesperson
D
UNIQLO is a Japanese clothing brand that is "committed to changing clothes, changing conventional wisdom and changing the world, and is dedicated to creating great clothing with new and unique value to enrich the lives of people everywhere." What is UNIQLO's frame of reference? a. Universal designs that fit superbly b. Changing conventional wisdom c. Enriching the lives of people everywhere d. Great clothing
D
US consumers are increasingly focused on healthy eating and there is a trend toward eliminating or minimizing sugar consumption. Known mainly as a mass market milk chocolate brand, in which quadrant of the Hershey Company's chocolate brand SWOT does this information belong? They are: A. Strengths B. Weaknesses C. Opportunities D. Threats
D
Walmart wants to be accessible to customers wherever, whenever and how ever they want buy. Which answer is NOT a reason to believe Walmart can deliver on this promise? a. Walmart+ offers unlimited free delivery b. Customers can buy online and pick up in store c. Customers can buy online and have their order delivered d. Customer can buy clothing brands like Bonobos and Modcloth at Walmart
D
What is the farthest stage in the TripAdvisor marketing funnel that a customer who books a hotel room based on a review he read on TripAdvisor, and writes his own glowing TripAdvisor review after staying there has reached? a. Trial b. Consideration c. Aided awareness d. Advocacy
D
When Disney acquired Pixar, it added a new animation talent, technology, and characters to Disney's existing portfolio of animated entertainment. Which growth strategy clearly does NOT apply to this move? A. Market penetration B. Product expansion C. Market expansion D. Diversification
D
Where do rising tariffs on imported electronics components and finished goods go in a SWOT analysis of Apple? a. Strengths b. Weaknesses c. Opportunities d. Threats
D
Which answer is a market for fast food restaurants like Kentucky Fried Chicken? a. Organizations looking for a place to hold meetings b. Students looking for a quiet place to study c. Students looking for a place to pre-game d. Families looking for an affordable meal to take home
D
Which of these is NOT an example of a SMART marketing objective? a. Increase the average order size by 5% within 3 years b. Be on Fortune's top 10 best places to work in America next year c. Have half of sales come from products less than 3 years old within 18 months d. Increase customer lifetime value significantly over the next several years
D
Which of these is an advantage of a house of brands approach to brand architecture? a. Maximizes marketing spending efficiency b. Maximizes awareness c. Builds a strong corporate brand d. Limits risk by containing brand reputations
D
Which of these questions is addressed by a product's positioning? a. When will the product break even? b. How will employees participate in the product's financial success? c. Where should the product be sold? d. Why will customers choose the product?
D
Which of these statements is a way that a brand's equity affects its business? Brand equity... a. Boosts a company's market capitalization b. Enhances a company's ability to segment customers c. Increases a company's diversification d. Enhances a company's ability to attract top talent
D
Which of these trends would NOT appear as an opportunity in a SWOT of video game Fortnite? a. The introduction of next-generation devices to play video games on b. New business models supporting game streaming c. The rise of in-game concerts and other events d. Fortnite's 350 million registered accounts
D
Which of these would NOT be a likely market for Pizza Hut: a. Consumers who prefer meals where silverware is optional b. Consumers who prefer sharing their food c. Consumers who prefer eating out d. Consumers who prefer home cooked meals
D
Winning awards, and having patent-protected intellectual property and uniquely distinguished talent are examples of important components of which element of a brand's positioning? A. Target B. Frame of reference C. Key benefit D. Reasons to believe
D
