Bus 346 Midterm 1 study guide

When Procter & Gamble added teeth-whitening products under the Crest brand, the firm was engaged in brand extension corporate branding brand licensing brand association perceived value branding

brand extension

In BCG portfolio analysis, products in low-growth markets that have received heavy investment and now have excess funds available to support other products are called cash cows stars question marks dogs anchors

cash cows

Which of the following steps occurs during the implementation phase of the marketing plan? Identify and evaluate opportunities Evaluate performance using marketing metrics Conduct a situation analysis Define business mission Define business objectives

Identify and evaluate opportunities

The XYZ car manufacturing company is advertising its new hybrid vehicle. It understands that its competition, Toyota's hybrid car, the Prius, is known for being economical, a good value, stylish, and good for the environment. Toyota has the advantage of brand associations price-sensitive brand-persuasion-oriented brand-association-oriented brand-extension-oriented

brand associations

Ferrari is well known as a brand of luxury sports cars; accordingly, it has leveraged its brand name to introduce clothing offerings emblazoned with its horse logo. It has also licensed its logo to 68 different products, from sunglasses to guitars. Ferrari might be at risk of which of the following? brand dilution brand awareness perceived value brand extension line extension

brand dilution

Jenny always buys Stacy's brand pita chips. She does not even consider alternatives. Jenny is a __________ customer brand-loyal price-sensitive brand-persuasion-oriented . brand-association-oriented brand-extension-oriented

brand-loyal

Disney's My Magic system, which enables visitors to swipe their Magic Band wristbands to get on rides, make purchases, and open their hotel room door, is an example of ________ excellence. customer operational locational product service

customer

The process by which the use of a new product or service spreads throughout a market group is referred to as diffusion of innovation new product introduction lead user dispersion the product life cycle product development diffusion

diffusion of innovation

Innovators are a critical group of new product adopters because they help the product gain market acceptance are the major source of innovation act as reverse engineering consultants help with test marketing extend the product life cycle

help the product gain market acceptance

When marketers use a variety of communication disciplines—advertising, personal selling, sales promotion, public relations, direct marketing, and online marketing including social media—in combination to communicate a value proposition to the customer, it is referred to as integrated marketing communications multimedia marketing diverse marketing communications comprehensive promotion managed marketing communications

integrated marketing communications

A long-standing staple of ______ has been major league sports teams that play in the MLB, NBA, NFL, or NHL as well as various collegiate sports teams. rights. licensing branding product line rebranding repositioning

licensing

To determine how attractive a particular market is using the BCG portfolio analysis, ________ is(are) established as the vertical axis. market growth rate competitive intensity sales dollars market size market profit potential

market growth rate

Which of the following growth strategies employs the existing marketing mix and focuses the firm's efforts on existing customers? market penetration product penetration diversification market development product development

market penetration

Which of the following is not one of the four overarching strategies to create and deliver value and to develop sustainable competitive advantages? planning excellence locational excellence customer excellence operational excellence product excellence

planning excellence

A __________ is a group of associated items that consumers tend to use together or think of as part of a group of similar products. product line product mix product mix breadth line extension brand extension

product line

In most companies, portfolio management is typically done at the SBU or ________ level of the firm. product line corporate customer care sales representative accounting

product line

It is almost impossible to watch a sporting event on television without seeing Nike's "swoosh" check mark, which is Nike's symbol name design term theme

symbol

For years, when considering new products, marketers at Celestial Seasonings asked themselves, "What would Stacy think?" Stacy was a fictional character representing 25- to 50-year-old educated, upper-income women who rarely watched television but did a lot of reading. "Stacy" represented Celestial's primary target market segment mission statement positioning SBU sustainable competitive advantage

target market segment

Ford Motor Company may be thinking of announcing that it will severely cut back its automobile production. For parts companies supplying Ford its parts, this cut back in production represents a(n) threat weakness opportunity strength strategic plan

threat

When consumers associate a brand with a certain level of quality and familiar attributes, allowing consumers to make quick decisions, the brand facilitates purchasing establishes novelty is the only one the consumer will consider reduces delivery costs creates brand dilution

facilitates purchasing