Final Exam MKT 304D

When Apple's famous 1984 "Big Brother" ad aired during the Super Bowl, it reached an estimated 500 million viewers. It aired only once on commercial television, but was seen in later years in at least ten television programs recalling great commercials. For its target audience, the frequency of this ad is measured as

1

When Yolanda asked her firm's advertising agency to estimate how often consumers saw her firm's IMC message and what percentage of the target audience was exposed to the message, she was told the reach was 40, the frequency was 4, and the competitive parity was 10. The gross rating points for her firm's campaign were

160

According to your text, the wealthiest 1 percent of the population control approximately what percentage of Americans' total net worth

34.6 percent

In the AIDA model, the do stage is the _________ stage

Action

By allowing customers to sell their unwanted goods to other consumers, auction sites like eBay and Etsy cater to ______ marketing

C2C

Four frequently used targeting strategies are the micromarketing, undifferentiated, differentiated, and __________ targeting strategies.

Concentrated

Which of the following is most effective in a building brand image, listing details about retail locations, and educating customers about products and services

Corporate website

Which of these is a macro-environmental factor

Culture

Gerald's Tire Store sets itself apart from competitors by the extra attention it pays to providing fast, courteous service in a clean, professional-looking environment. Gerald's has used this strategy for over 40 years, expanding to 15 outlets. Gerald's Tire Store has created a ___________________ macro strategy to create and deliver value and to develop a sustainable competitive advantage

Customer excellence

Beer marketers know that high school educated, working-class males from the ages of 25 to 40 make an attractive market for their products. This is a __________ segment of the beer market.

Demographic

Natalie and her fiancée Dow are planning their wedding. She knows her mother wants her to have a traditional church wedding with a Roman Catholic priest officiating. Natalie would like to have an informal ceremony on the beach, since that type of wedding has become popular with her friends. Furthermore, Dow is from Thailand and would like to have a monk officiate. Natalie and Dow's wedding decisions are most influenced by

Family, reference groups, and culture

By producing motorcycles that do more than get riders to their destinations and back, Harley-Davidson is addressing consumers'__________ needs.

Functional and psychological

Which of the following groups has never lived without easy access to the internet and other digital technologies

Generation Z

The Tapestry Segmentation system divides and sorts small geographic areas into categories using 60 or more demographic and lifestyle characteristics. This market research tool is an example _________ segmentation

Geodemographic

Whenever Valerie has a new massage therapy customer, she invites the person to be on her e-mail distribution list. In the process, in addition to exchanging her massage therapy service for payment, Valerie is gathering

Information

H&R is a small, local heating and air conditioning business. The local military base is a potential source of growth, and H&R already installs and services the type of equipment the military would require, but it is difficult to get established as a certified government contractor. .H&R is considering a _______ growth strategy

Market Development

To determine how attractive a particular market is using the BCG portfolio analysis, ________ is(are) established as the vertical axis.

Market Growth Rate

Abercrombie & Fitch, a clothing retailer, includes a "SHARE" link on the product pages of its website. This link encourages an Abercrombie customer to post a link on Facebook or Twitter. Abercrombie & Fitch hopes that the customer's friends will click the link, visit the page, and make purchases this is an example of _____ Growth strategy.

Market Penetration

Many U.S. companies first discovered marketing during the __________ era.

Market-Oriented

Because it was able to deliver merchandise overnight, in the required quantities and at a lower delivered cost than its competitors, Joe's Sports Shack was given exclusive rights to sell clothing with school logos for the school district. Joe's demonstrates _______ excellence.

Operational

Coca-Cola sells two different zero-calorie versions of Coke: Diet Coke and Coke Zero. It has chosen to attempt to appeal to men with Coke Zero. In addition to launching an ad campaign featuring men enjoying Coke Zero, Coca-Cola also designed a masculine-looking can for Coke Zero, with bold red lettering on a black background. This specially designed can is an example of

Positioning

Jeff opened a sporting apparel store and signed a lease on the property. He also signed an agreement with the manufacturer on the amount of merchandise he will sell and the promotions he will conduct. Based on this description, which aspect of the marketing mix does he still need to work on?

Price

Which element of the marketing mix is most relevant to the activity "Creating Value"

Product

In 2007, Apple Computer introduced its new iPhone, adding a cellular telephone, a camera, and internet access to its iPod. The company was pursuing a(n) ________ strategy.

Product Development

A measure termed _______ describes how useful an ad message is to the consumer doing the search.

Relevance

Near the end of the model year, the Move-Them-Out automobile dealership had an unusually high inventory level. The manager increased her advertising spending and gave extra incentives to its salespeople. Move-Them-Out operates as if it were in the _____ era.

Sales-Oriented

Beverage companies often use television commercials with images of young people laughing and enjoying themselves on a beach or in a club. These images are designed to appeal to consumers' __________, suggesting "be like me."

Self-concepts

As part of her company's SWOT analysis, Valerie is assessing the company's internal environment, including

Strength and Weaknesses

The results of the 2010 census suggests what about the 42 million African American U.S. households

They are more affluent and suburban

Christine has just started with a travel agency, and she has been offering clients and prospective clients a range of packaged tours. She is concerned because the commissions she is earning on her sales are lower than she had hoped. Her colleague Peter, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Peter's approach is based on

Value Cocreation

During the __________ era, manufacturers and retailers recognized they needed to give their customers greater value than their competitors did.

Value-Based Marketing

Not only is GIS technology help Starbucks determine the ideal locations for new stores, but it also can enable the company to decide

Which kind of stores to open

By offering environmentally responsible products, green marketers

add value that other products do not have

Golf ball manufacturers use "Iron Mike," a machine that swings a golf club at a constant velocity, to test the distance for new golf ball designs. When using Iron Mike, the manufacturers are engaged in

alpha testing

As the number of communication media has increased, the task of understanding how best to reach target customers has

become more complex

The United States has often been called the "melting pot" society, integrating people from many different cultures into the social fabric of the country. The challenge for marketers is to determine whether a group's culture

can be used as a relevant identifier for a particular target group

In many cases pioneers lose their market lead and initial market share to imitators who

capitalize on the pioneers' weakenesses

A firm's marketing communication strategy is formulated specifically to

communicate the value of its product(s)

What is most likely to happen when inflation increases

consumers buy lower-price foods

Compared to other IMC alternatives, advertising is extremely effective for

creating awareness and generating interest in a product.

By adding new product lines beyond its core business of computer software, like the Zune MP3 player and Xbox 360 game system, Microsoft primarily benefits by

creating diversification and reducing risk

Companies that develop customized business software often work closely with their users when installing their products. This close contact often creates new product ideas through

customer input

Psychographics is the segmentation method that delves into how consumers

describe themselves

Which of the following is the least interactive IMC strategy

direct marketing via catalog

Robin recently bought Voice over Internet Protocol (VoIP) phone service. A few of Robin's friends bought VoIP before she did, but many other friends were interested in Robin's opinions of the new phone service. Robin is a(n) __________ in this product category.

early adopter

Academic researchers often jump at the opportunity to conduct a research study, curious to learn more and address unanswered questions for the sake of general knowledge. Business people tend to be more cautious before embarking on a marketing research study, recognizing that research is often

expensive and time-consuming

Which of the following types of research would be considered quantitative research

experimental research

Digital billboards embedded with ________ software can identify passersby and then display ads targeted to them, based on their age, gender, and attention level.

facial recognition

All of the following are reasons for the high failure rate of new products except

failing to introduce lower-priced alternatives

Martin has hired a marketing research company to bring together a small group of soft drink consumers and get feedback on the three new advertising slogans his firm is considering. The marketing research firm might conduct a(n) __________ to provide the information Martin has requested.

focus group

Innovators are a critical group of new product adopters because they

help the product gain a market acceptance

Which of the following is the third step in the marketing planning process

identify and evaluate opportunities

Brenda was planning a small dinner party and had gone to a new specialty food store with coupons she'd found in the food section of the paper. At the store, she also found a buy one, get one free deal and a gift offered with the purchase of a particular dessert. She altered the menu as a result of the __________ and ended up spending less than she'd planned.

in-store promotion

Every time Katie wants to eat salad for lunch, she and her friends fo to Sweet Tomatoes, but if she's craving dessert, she heads straight to The Cheesecake Factory. In making these choices, she relies on

internal search for information

A differentiated targeting strategy can allow a firm to obtain a bigger share of the overall market; this strategy

is likely more costly than an undifferentiated strategy

From a Firm's perspective, the biggest advantages of RFID is

it enables the firm to track an item from the moment it was manufactured

Paul is considering psychographics as a way to segment the market for his small travel agency. This approach to segmentation offers him an advantage because

it is based on underlying motivations of target customers

A major disadvantage of primary data collection is

it requires more sophisticated training and experience to design the study and collect data

After a product has been launched, marketers must undertake a critical postlaunch review to determine whether the product and its launch were a success or failure and what additional resources or changes to the marketing mix are needed, if any. For a product that does move on, the firms can measure the success of the new product by interrelated factors that include all of the following except

its satisfaction of the firm's manufacturing requirements

Among the factors affecting the consumer decision-making process is the way consumers spend their time and money to live otherwise known as

lifestyle

Before flying, Jaden researches the types of planes the airline uses, scans the plane for defects as it taxis up to the terminal, and follows the pilot and crew as they come through the airport. He has no experience as a pilot or airplane mechanic. Jaden probably has a misguided sense of his

locus of control

A product in the ________ stage of the product life cycle has a high number of competitors and competitive products

maturity

Paul subscribes to an Internet service that alerts him whenever other firms in his industry are quoted in the media. Paul is using this type of market research primarily to

monitor his competitors

An ______ is a need or want strong enough to cause a person to seek satisfaction

motive

Mattel wanted to determine whether a new toy would appeal to preschoolers, so it put six 4-year-olds in a room with several toys and waited to see which ones they played with. What form of research is this?

observation

When using the objective-and-task method of IMC budgeting for multiple products and services, how often must the process be repeated

once, for each individual product and service

Barak is considering buying a hybrid car, but he's not sure that he believes the gas mileage estimates. Barak is concerned about

performance risk

What is not a guideline provided by the American Marketing Association for conducting market research

personal information about research participants should not be shared, except with a designated member of senior management

When Marvel launched several successful series on Netflix, including Jessica Jones, Daredevil, Iron Fist, and Luke Cage, it employed a _______ strategy

product development

The purpose of _____ is that it provides information needed to confirm insights and hypotheses generated and helps managers pursue appropriate course of action

quantitative research

_______ factors override or a least influence psychological and social issues

situational

Reginald greets his regular customers by name every morning when they come in for coffee. He offers them a taste of anything special he is cooking that day. He has a database with their birthdays, and offers them free meals on their birthdays. Reginald hopes that this attention to his regulars will encourage them to

spread a positive word of mouth

Paula is trying to determine whether the segments she is considering for her day care center will be profitable. Which of the following will not specifically help her in this analysis?

the average number of school-age children in families sending a child to the day care center

In the circles for a successful value proposition framework, the value proposition is represented by

the intersection between customer needs/wants and the firm's product's benefits

All of the following are one of the main components of a value proposition except

the price of the product or service being offered

What is neuromarketing?

the process of examining consumers' brain patterns to determine their responses to marketing communications, products, services for the purpose of developing marketing tactics or strategies

Many American consumers are purchasing hybrid automobiles even though they are more expensive than conventional compact cars. These consumers

value contributing to a greener environment

Serena studies her customer profiles, market research data, complaints, and other information, attempting to better understand what her customers want. Serena operates in the __________ era of marketing.

value-based marketing

At the end of a brainstorming session, participants are often asked to

vote on the best ideas

A generational cohort is a group of people

who are the same generation