Marketing 300: Chapters 7-8
Rex Steelworks makes steel sheets which the firm markets and sells to companies all over the world. Which of the following marketing strategies is most suitable for Rex Steelworks? A) Undifferentiated marketing B) One-to-one marketing C) Individual marketing D) Trigger-based marketing E) Local marketing
A
When it first opened stores across the United States, Bateman's, an office supply chain store, had the best product selection, the best service, and the lowest prices compared to other office supply chain stores. As a result, Bateman's captured a significant chunk of the market in the short run. Which of the following positioning strategies did Bateman's most likely use? A) More for less B) Same for less C) More for more D) More for the same E) Less for much less
A
___ contributes to a product's usefulness as well as to its looks. A) Good design B) Sensational style C) Quality D) Packaging E) Consistency
A
Costco's Kirkland Signature products are an example of a ___. A) National brand B) Private brand C) Support brand D) Generic brand E) Manufacturer's brand
B
Installations consist of ___ A) Products such as insurance B) Major purchases such as elevators C) Portable factory equipment such as hand tools D) Portable office equipment such as computers E) Highly priced luxury goods such as rolex watches
B
Venus Inc., a company designing and marketing branded diamond jewelry, targets wealthy consumers with similar needs and buying behaviors, even though the consumers are located in different countries. This is an example of _____ segmentation. A) Income B) Intermarket C) Life-cycle D) Psychographic E) Loyalty
B
___ positioning involves meeting consumers' level performance or quality requirements at a much lower price. A) More for less B) Less for much less C) More for more D) More for the same E) Same for less
B
____ segmentation assumes that nations close to one another will have many common traits and behaviors. A) Demographic B) Geographic C) Psychographic D) Benefit
B
After a brief stay at a luxury hotel in Paris, Benjamin sanders noted that the hotel had kept every promise it made when he booked the room, meeting all his needs. He added that it was a "thoroughly comfortable and opulent experience." According to Young & Rubicam's Brand Asset Valuator, this reflects brand ____ A) Valuation B) Esteem C) Relevance D) Knowledge E) Differentiation
C
_____ are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style. A) Capital items B) Unsought products C) Shopping products D) Supplies and repair services E) Convenience products
C
______ involves actually distinguishing the firm's market offering to create superior customer value. A) Mass customization B) Market segmentation C) Differentiation D) Targeting E) Diversifying
C
Consumers who show their allegiances to brands, stores, or companies help marketers to segment consumers by their ____. A) Benefit seeking attitudes B) User status C) Geographic location D) Degree of loyalty E) Income
D
Jean malone, a market researcher, recently found that most people in Bradburg County purchase automobiles with predominantly functional designs and prefer darker colors. Which of the following marketing strategies should jean most likely recommend to as auto dealer interested in opening a dealership in bradburg county? A) One-to-one marketing B) Segmented marketing C) Direct marketing D) Undifferentiated marketing E) Individual marketing
D
Service ______ means that services cannot be stored for later sale or use. A) Inseparability B) Intangibility C) Consistency D) Perishability E) Variability
D
Companies know they cannot appeal to all buyers in the marketplace, or at least not in the same way. Reasons for this include all of the following except _____. A) Buyers are too numerous B) Companies vary widely in their abilities to serve different market segments C) Buyers are varied in their needs and buying practices D) Buyers are widely scattered E) Companies need more information to offer the right products to the right customers
E
Venus Inc., a company designing and marketing branded diamond jewelry, targets wealthy consumers with similar needs and buying behaviors, even though the consumers are located in different countries. This is an example of ___ segmentation. A) Life-cycle B) Psychographic C) Loyalty D) Income E) Intermarket
E
___ refers to a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer. A) Local marketing B) Segmented marketing C) Individual marketing D) Niche marketing E) Undifferentiated marketing
E
____ involves adding more items within the present range of the product line. A) Downward product line stretching B) Upward product line stretching C) Brand extension D) Market diversification E) Product line filling
E
_____ marketing consists of activities undertaken to create, maintain, or change the attitudes and behaviors of target consumers toward an organization. A) Concentrated B) Social network C) Niche D) Location E) Organization
E
______ involves actually distinguishing the firms market offering to create superior customer value A) Diversifying B) Market segmentation C) Mass customization D) Targeting E) Differentiation
E
Attributes are the most desirable level for brand positioning because competitors can easily copy attributes. True False
False
Co-branding occurs when retailers and wholesalers create their own store brands. True False
False
Companies find it as easy to come up with a good positioning strategy as to execute it. True False
False
Convenience products are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style True False
False
Using an undifferentiated marketing strategy, a firm might decide to target several market segments and design separate offers for each. True False
False
A service refers to an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything. True False
True
Less-for-much-less positioning involves meeting consumers' lower performance or quality requirements at a much lower price. True False
True
The augmented product is the actual product plus the various services and benefits offered with it, such as warranty, free delivery, installation, and maintenance True False
True
To the extent that a company can differentiate and position itself as providing superior customer value, it gains competitive advantage. True False
True