MKT 300 Exam 2

A new restaurant just opened in your town. Fill in the blanks with the word(s) from the drop-down list that would best complete each passage about brand loyalty toward this restaurant or a competitor. Words may be used more than once. Your friend Fred mentions that he has seen a billboard with the eatery's name and may try it; from your marketing class, you know this stage of brand loyalty is called An element of the marketing mix that is important to reach consumers like Fred is It turns out that your neighbor, Sue, has eaten at the new restaurant and urges you to make a reservation soon. "I had a great experience!" she says. Sue's stage of brand loyalty is called However, you tell Sue that you're not interested in the new restaurant. Whenever you eat out, you'll only go to your favorite place: Cheesecake Factory. Your stage of brand loyalty toward Cheesecake Factory is called

Brand recognition; promotion; brand preference; brand insistence

As Multiverse continues to expand its reach in the business market, it must continue analyzing the makeup of this market in order to take advantage of new opportunities. Help Multiverse navigate these opportunities. SpaceX, a Hawthorne, California-based spacecraft company is the only private company ever to return a spacecraft from low-Earth orbit. Its ultimate goal is to enable people to live on other planets. In order to do this, SpaceX needs powerful fuels to launch its rockets and land its spacecraft. Multiverse is interested in doing business with SpaceX and wants to be ready to submit a bid when SpaceX puts out the call for proposals. It also knows from discussions with industry insiders that Elon Musk, SpaceX's CEO, will be reviewing and ranking all submitted bids himself. Which of the following members of SpaceX's buying center will Multiverse be most interested in developing a relationship with?

Decider and buyer

Geographic segmentation uses information about a region's population to form homogeneous groups. Different geographic variables may influence consumer buying decisions. Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. Some people move away from urban areas because urban housing tends to be small and crowded. From a marketing perspective, this reflects the variable of Sunscreen sells better in Florida than in North Dakota, primarily because of the southern state's People who drink iced tea in Georgia and Alabama are more likely to sweeten the beverage than iced tea drinkers in Vermont and New Hampshire. This is an example of a(n) difference that may be relevant to geographic segmentation based on

Density; climate; cultural; region

As Under Armour expands into new markets with new product offerings, it must be sure to maintain—and maximize—its brand recognition and reputation. Help Under Armour develop and implement its brand strategy. Suppose Under Armour has created a new, super nylon that is 50% more durable and long-lasting than the synthetic fibers it has been using. Under Armour has branded it ProWear, but professional athletes have come to call it "Better Than Nike." Market research indicates that consumers think the nickname is catchy and would influence them to buy the product over those offered by Nike. Under Armour is considering whether to seek trademark protection for this name. What should Under Armour do?

Do not seek trademark protection

International marketing research presents the marketer with a different set of challenges in dealing with the cultural, economic, legal, and regulatory differences that exist among countries. In particular, these differences can have a profound impact on data collection. Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. The U.S. government offer(s) information about global markets. To avoid language issues that may impede the use of surveys, researchers may employ the method known as translation. is the most common primary data collection method outside the United States. interviews and surveys are frequently unsuitable outside the United States.

Does; back; face-to-face interviewing; telephone; mail

You work for a new company in an emerging market, the 3D printer industry. With about 200 employees, your company is undoubtedly growing, and order requests have doubled within the last year. Because of the size of your company, you are not quite ready to compete with industry giants. You do, however, understand that there is a huge potential for success because a 3D printer can potentially be used for a wide range of activities, including printing products within the home, printing organs for transplant that can be used in operating rooms across the world, and printing and filling small orders for local businesses. Which of the following types of business-to-business market segmentation would you use in the scenario described above?

End-use application segmentation

As Multiverse continues to expand its reach in the business market, it must continue analyzing the makeup of this market in order to take advantage of new opportunities. Help Multiverse navigate these opportunities. Multiverse has determined it can compete successfully in the computer chip manufacturing industry, as it already produces a line of chemicals that provides a protective coating against electromagnetic interference, a common concern with computer chips. Before it can expand marketing to businesses that manufacture computer chips, Multiverse must determine how computer chip manufacturers use chemicals in their production processes. In this case, which of the following segmentation strategies should Multiverse use to segment this business market?

End-use segmentation

As Multiverse continues to expand its reach in the business market, it must continue analyzing the makeup of this market in order to take advantage of new opportunities. Help Multiverse navigate these opportunities. More than 9 million gallons of crude oil have spilled from pipelines in the United States since 2010. And though this represents an overall decrease in oil spills over time, Multiverse believes it has a solution to the problem. "MegaPipe" is a new sealant it developed to sheath oil pipelines with an indestructible layer of protection against unintended cracks and breaks. The problem is that Multiverse doesn't see much business market demand for MegaPipe. Companies developing oil pipelines do not want to spend extra money for protection they might never need. It doesn't look like the business climate is quite right for MegaPipe. Changes to which of the following factors would have a significant impact on the oil industry, encouraging the purchase of MegaPipe?

Environmental factors

The business-to-business (B2B) purchasing decision process is much more complicated than the individual consumer's decision process. The B2B purchase decision process often involves multiple people or groups whose input affects the final decision. Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. Company B recently experienced a delay in production due to political riots in the country where its factory is located. Its CEO recognizes that the delay was due to Company A uses groups to make purchases and must have a majority vote to make a purchase decision. This means its decisions are subject to Company C has branches all over the United States, but has decided to consolidate all its purchasing at company headquarters. This means its vendors must now consider

Environmental factors, interpersonal influences, organizational factors

The organizational buying process is multifaceted and is demonstrated through a seven-stage process. Which of the following descriptions pertains to an activity that the purchaser would be likeliest to undertake during the last stage?

Examine the frequency of on-time delivery

You are about to engage in the marketing research process. It includes the following steps, listed in alphabetical order—not necessarily the order in which they should be carried out. Collecting primary or secondary data Conducting exploratory research Creating a research design Defining the problem Formulating a hypothesis Interpreting and presenting research information Indicate which two of these steps should come first and last.

First: Defining the problem. Last: Interpreting and presenting research information

Two demographic variables used when segmenting consumer markets are segmenting by age and segmenting by stage in the life cycle. Which of the following situations does not illustrate segmenting by age?

Flat-pack furniture is marketed as inexpensive and easily portable.

Marketing research activities yield different types of data for the marketer. The techniques used to obtain the data and the source of the data are the most significant factors that dictate what type of data are obtained in the marketing research process. From the following list, choose any example(s) of primary data.

Focus groups, interviews; Surveys, polls; Experiments

As Multiverse continues to expand its reach in the business market, it must continue analyzing the makeup of this market in order to take advantage of new opportunities. Help Multiverse navigate these opportunities. Multiverse is manufacturing a custom chemical for a specialized rocket manufacturer. In order to do so, Multiverse has determined that it must use a certain quantity of rare earth minerals in its production process. There are a number of firms that produce and distribute these rare earth minerals, so Multiverse puts out a request for proposals from suppliers. Which of the following is the next step that Multiverse will most likely take in the purchasing process?

Gather and analyze proposals

As Multiverse continues to expand its reach in the business market, it must continue analyzing the makeup of this market in order to take advantage of new opportunities. Help Multiverse navigate these opportunities. Over the last 12 months, Multiverse has noticed an uptick in the number of business market customers purchasing its product called Formula 359, a citrus-based chemical solvent normally sold directly to consumers. Unlike the consumer market for this product, which is disbursed across the country, Multiverse has identified a single state that makes up 90% of its business market sales for Formula 359-California. As Multiverse develops a marketing strategy to further expand Formula 359 into the business market, which of the following characteristics would differ most from its consumer market strategy?

Geographic market concentration

You have recently been hired to work in the marketing department of a company that manufactures and distributes baby food. During orientation, you are told that baby food is a convenience product because it is a good that families want to purchase frequently, immediately, and with minimal effort. This summary makes sense to you because you have a younger brother, and you recall that whether baby food was on sale or not, your parents bought it because they needed to feed your brother. You also remember that because convenience products are typically cheap, retailers must sell large volumes in order to make a profit. Based on the information provided in the scenario above, which of the following would you be least likely to emphasize in the marketing mix for your company's baby food products?

Hiring a personal selling staff

As a marketer, you have many different tools at your disposal to gather the information necessary to develop targeted marketing programs. One of those tools is psychographic segmentation. Select the type of information below that cannot be gathered using psychographic variables.

I want to know how many children under the age of 18 live in the households of my target market.

In your new marketing position with an international company making custom leather boots, you recognize the global environment offers a different set of challenges for you to navigate on behalf of your employer. You have been assigned to track product sales to Spain. Which of the following information should you thoroughly familiarize yourself with, to respond to Spain's political-legal environment?

Import tariffs on leather goods

Choose any of the following types of B2B segmentation that is(are) incorrectly described

In buyer decision segmentation, a company may deal with one or multiple individuals involved in the purchase decision; End-use application segmentation deals with the way in which the product or service is engineered and manufactured

Selom is doing research for an interior design firm called Your Décor. Fill in the blanks with the word(s) from the drop-down list that would best describe his available secondary data sources. Words may be used more than once. Your Décor's marketing analytics are an source. Your Décor's sales records are a(n) source. Your Décor is interested in population distribution across states. A major government source of such data is the is an example of a that Selom may hire to compile and analyze external data.

Internal; internal; census; Nielsen; research firm

You are browsing through job listings for global marketing-related jobs on Monster.com. One job catches your attention because it lists the following major responsibilities that closely match your experience: The candidate will be involved in purchase decisions of robotic manufacturing firms in Asia. The candidate will be involved in setting up an independent division with responsibility for robotic equipment production and marketing. The candidate's major focus will be on evaluating the performance of robotic manufacturing activities and incorporating strategies for effectiveness and efficiency. The candidate should have an international customer value orientation. Which of the following terms best describes the focus of this job?

International direct investment.

Cadence Rappaport, the marketing director of a high-profile advertising agency, is working with a hair care client, Edifice, Inc., and has to gather primary data about how Edifice customers use its products. She will use a combination of observation and survey research. You are Cadence's intern this summer and want to help her implement these methods; but first, you want to make sure that you understand what they entail. Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. A good way to determine how customers style their own hair is to observe their at-home styling rituals. This type of observation could serve as the basis for research. In general, Cadence should expect to pay relatively for a survey of Edifice's target market—women aged 18-25—than for observational research. In general, Cadence should expect the time frame for the survey part of her research to be than for the observation part.

Interpretive; less; shorter

As Under Armour expands into new markets with new product offerings, it must be sure to maintain—and maximize—its brand recognition and reputation. Help Under Armour develop and implement its brand strategy. A product manager at Under Armour suggests packaging upgrades for their flagship line of compression shirts. Instead of putting the shirts on hangers or folding them on a shelf-as is the traditional method for displaying apparel ̶ they would be encased in a clear plastic box. Each side of the box would have a full color label describing the benefits of the shirt. The product manager states the box protects the shirt from being stretched or damaged, and the additional labels would help attract consumers and persuade them to buy. However, other managers in that department do not think the new packaging is a good idea and would like to look at other alternatives. What should Under Armour do?

Maintain existing packaging or look for other alternatives

Companies go to great lengths to enhance and protect the identities of their brands. Fill in the blanks with the word(s) from the drop-down list that would best describe the methods commonly used to achieve these objectives. Words may be used more than once. A brand logo is the same as a brand A brand is a symbol or pictorial design. The combination of visual cues that creates Starbucks' total image is its The mermaid on every Starbucks cup is part of its

Mark; mark; trade dress; brand mark

You turned on your tablet to read an online article about a Texas-based furniture retailer that reported its first gain in same-store sales in almost two years. The gains were realized in foldable tables and convertible sofas, areas specifically targeted for improvement and often preferred by apartment dwellers with limited space. The company attributes its success to having moved its stores from rural and suburban communities into Dallas-Ft. Worth, 1 of the 10 largest metropolitan areas in the United States. What significant geographic variable or combination of variables is likeliest to be responsible for this retailer's success?

Market density

Market segmentation is used by marketers to develop the strategy they will use to present their product or service to the consumer. Select the statement below that best describes how market segmentation works.

Market segmentation groups consumers according to similarities and differences in reference to factors that influence purchase decisions.

As the marketer for a new electronics firm that produces a limited number of products, you recognize that consumers are not all cut from the same cloth—many variables exist in needs and preferences. But your company cannot change its products to suit each individual consumer preference. Select the statement below that does not accurately tell how market segmentation can help your company sell its goods.

Market segmentation will help your company identify product changes that will meet all consumer preferences and needs.

As Under Armour expands into new markets with new product offerings, it must be sure to maintain—and maximize—its brand recognition and reputation. Help Under Armour develop and implement its brand strategy. In new global markets, Under Armour wants to focus on line extension to leverage their existing brand name and market strength. In Brazil, Under Armour's apparel and shoes are already big sellers and the only categories where they currently offer products. Two new product lines are under consideration to serve the large population of martial arts practitioners there. One is a line of moisture-wicking compression shirts with extra strong stitching for durability. Another is a line of punching bags and punching mitts. Which product line should Under Armour pursue?

New line of compression shirts

The United States places first in a number of categories of global marketing and trade opportunities. For example, the United States is the world's largest exporter of services and retailing. More than $600 billion is spent annually in U.S. service exports. Twenty percent of that $600 billion—more than $120 billion—comes from travel and tourism. Which of the following customer descriptions identifies a buyer of this U.S. service export?

Parisian Cecile, driving a convertible up the West Coast from California to Washington

Noting the popularity of reality and competition television shows such as Survivor on CBS, The Voice on NBC, and The Bachelor on ABC, Netflix would like to create an original series to compete with network offerings. Netflix executives are unsure which type of show would appeal to Netflix subscribers—a dating show, skill-based competition, or something else? Please help researchers classify the data they have collected as primary or secondary. Video recordings of focus groups Netflix conducted in three of the company's largest markets Viewership statistics for nature- and survival-type documentaries currently on Netflix Demographic information for Netflix subscribers Survey results from a brief e-mail survey sent to Netflix subscribers asking about reality and competition show preferences

Primary; secondary; secondary; primary

Review the information from Mark's Facebook profile and identify the segmentation base (geographic, demographic, psychographic, and behavioral) that best describes each characteristic. Is member of kayaking group on Facebook Lives in Nashville, TN Likes hiking tour companies on Facebook Likes blues and rock musicians on Facebook Single status Clicks on ads from Disney about adventure vacations

Psychographic; geographic; psychographic; psychographic; demographic; behavioral

Review the information from Sylvia's Facebook profile and identify the segmentation base (geographic, demographic, psychographic, and behavioral) that best describes each characteristic. Likes craft beer brands on Facebook Likes Spotify on Facebook Lives in the Midwest Clicks on articles about hiking gear Follows Scott Jurek, distance runner and hiker on Facebook Works as an electrical engineer

Psychographic; psychographic; geographic; behavioral; psychographic; demographic

Fill in the blanks with the word(s) from the drop-down list that best complete each passage. For a marketer, it may be difficult to identify the most influential members of a buying center because often these members don't work in the department. An organization's consists of each individual who works in any capacity of its purchasing activities. In many business buying situations, one person serves as both the decider and the A buying center is a(n). group.

Purchasing, buying center, buyer, informal

Organizations want to have a reputation for producing quality products with strong brand identities to give them an advantage in the marketplace. Brand equity, the added value of a brand name, has four dimensions. Choose the example that is not identified with the appropriate brand equity dimension.

Ruben buys a Ferrari because he thinks it will set him apart from other drivers. This illustrates the dimension of esteem.

You work for a local snack manufacturing and distribution company and have been asked to assist in the data collection process for ongoing marketing research. You must correctly identify the sources of data you will use. Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. The word(s) may be used more than once. A newspaper is a source of data. A telephone survey is a source of data. Questionnaires disseminated via mobile applications yield data. Magazine clippings of families enjoying preferred snacks are a type of data. An infographic published on a television show is a source of data. Observation notes from a panel discussion yield data.

Secondary; primary; primary; secondary; secondary; primary

As the single largest supplier of original kids' content, Netflix CEO Reed Hastings is considering expanding the company's offerings to include video games. For an additional per-month subscription fee, Netflix would offer unlimited game play on more than 20 games. By partnering with companies like Namco and Atari, Netflix could offer classics such as Pac-Man, Pole Position, Centipede, and Space Invaders. Researchers have gathered some information to assist in this decision. Classify the data they have collected as primary or secondary. Demographic information for subscribers with children's profiles on Netflix Personal interview data from self-proclaimed "gamers" interviewed at a local video game store Demographic information for video game players from Gamer Newz, an industry publication Observation data from an arcade near Netflix headquarters in Los Gatos, California

Secondary; primary; secondary; primary

Executives at Netflix are reviewing the company's first quarter results. Profits have remained mostly flat from the previous quarter, but executives are more concerned about declining viewership statistics. They are fearful that if this number continues to decline, Netflix customers may cancel their subscriptions. Executives have tasked the Netflix marketers with the job of determining what has caused the decline in viewership. Classify the following information as primary or secondary data. Netflix subscription and viewership data from the last four quarters Results from an e-mail survey sent to Netflix subscribers who had declining viewership rates Results from previously compiled exit surveys, sent to Netflix customers who cancel their subscriptions Data from Nielsen's television rating report, published monthly

Secondary; primary; secondary; secondary

Netflix has expanded its subscription streaming service to Canada, France, Mexico, and Japan. The company would like to expand to China and needs to conduct market research there in order to determine the appropriate subscription fee and best type of programming for Chinese consumers. Please help researchers classify the data they have collected as primary or secondary. Chinese income, education level, and population data from the World Bank Results from the Chinese Marketing and Media Study collected from Sinomonitor, a media software and data integration supplier Demographic information from the National Bureau of Statistics of China 500 personal interview results collected by Netflix researchers in Shanghai

Secondary; secondary; secondary; primary

As Under Armour expands into new markets with new product offerings, it must be sure to maintain—and maximize—its brand recognition and reputation. Help Under Armour develop and implement its brand strategy. Because building brand equity is so important to Under Armour, they don't participate in private branding. Suppose two new line extension opportunities have presented themselves. First, Walmart would like to offer an exclusive line of Under Armour soccer apparel that would only be sold at Walmart stores. Under Armour would not be able to sell this product line anywhere else. Second, Amazon would like to partner on a line of Amazon-branded yoga apparel to sell on their website. Amazon's sales projections exceed that of the Walmart's proposal. Which line extension opportunity best meets Under Armour's objectives?

Soccer apparel at Walmart

Though some people may not automatically identify a service as a product, marketers know that products comprise services as well as goods; sometimes a product may be a combination of the two. You work for a database company and want to ensure that your product listings are accurate, so you refresh your memory by checking how other firms identify their products. Which of the following should be identified as pure goods?

Somaya just launched an online shoe company. A publishing company sells health-based curricula.

You decide to start a dog-walking service because you notice a number of trends that suggest a high demand for this type of service. You are trying to convince your brother to partner with you in this business, but one of his comments suggests that he doesn't understand the nature of a service. Which of the following comments did your brother make?

Standardized services are easier to provide than unstandardized services

Mercy Hospital needs to purchase a highly specialized drug that is patented and sold by only one pharmaceutical company. These constraints will primarily affect which step in the organizational buying process?

Step 3

If the Nederlander Group uses a standardized marketing mix in a new market, with no changes to its product or promotion, it is using a ______ strategy.

Straight extension

You work for a digital timepiece company which started its entry into the global market a year ago. Your predecessor assumed that the company could use the same product and preexisting marketing campaign materials in nations that shared the same language. Sales never got off the ground. You were brought on board to make strategic changes and continue the fight for customers. Which strategy are you most likely to change?

Straight extension.

Your company is studying new product opportunities in the business market. However, the firm has lost out in the past because of heavy price competition in the consumer market, so the CEO prefers to steer clear of the type of business product likeliest to face the same challenge. Which type of business product would you advise the CEO to avoid?

Supplies

Alanis has to collect primary data for the floral company for which she works. The company, which is currently based in Miami, Florida, is seeking to expand to other cities within the state. Alanis is interested in gauging what motivates people to buy flowers and customers' attitudes toward online flower delivery. Which of the following primary research methods would best capture the information Alanis wants to collect?

Surveys

This morning your boss, a product manager, assigned you to a group of coworkers who are focused on new product development. However, by the time you got home and started to tell your roommates about it, you forgot what the group is called. You do remember that it is the most common organizational arrangement for developing new products. Choose the most likely name of the group.

The New Product Venture Team

XYZ Company defines its primary customer group based on demographic variables. To guide the development of its advertising, you were asked to write a description of the typical customer in that group. Just before submitting the assignment, you caught an error: one sentence is wrong because it references a variable that isn't demographic. Which sentence is wrong?

The XYZ consumer doesn't want to look her age.

Darren King owns a small printing company and uses reams of print paper every month. When he goes to the wholesaler to pick up his normal paper supply, he also sees that the supplier is selling remnants of colored construction paper. Darren purchases the colored construction paper for his children to use for school projects and to make art. Select the two statements below that correctly describe Darren's purchases.

The colored construction paper from the wholesaler is a consumer product because Darren's family will use it for personal projects. The supply of print paper from the wholesaler is a business product because Darren uses it to provide a service that he sells.

You have been asked to supervise a new intern, who inquires about the benefits of having combined goods and services businesses. Rather than explicitly tell him or her the answer, you explain to him or her how these types of businesses operate, so he or she can make an inference about the benefits. To illustrate the purpose of combined goods and services businesses, you tell your intern that sometimes, the combination of a primary good with additional services defines the complete product to the customer and better satisfies their needs. To further illustrate your point, you explain that local coffee shops offer coffee and breakfast as primary goods. However, they also provide free Wi-Fi to make customers more comfortable, encouraging longer stays and extra beverage or food purchases. Based on the information provided, what can your intern infer about the benefits of combined goods and services businesses?

These businesses aim to better satisfy their customers by offering goods and services that complement each other.

The business-to-business (B2B) market can be grouped into four major categories: commercial, reseller, government, and institutional. Organizations can fall into one of the business market categories. Choose the organizations that are part of the reseller market.

Toys "R" Us purchases Barbie dolls from the toy manufacturer Mattel

Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. When the consumer completes a transaction for personal use, it is considered a consumer product. Purchases by are classified as business products because they are used to produce other goods and services for resale. Often a product serves as both a consumer product and a business product. The same product purchased for use by a retail customer may also be purchased by a manufacturer for resale, which makes it both a consumer and a business product.

Ultimate; manufacturers; single; personal

You work for a tech firm that wants to invest in some capital development projects that could potentially position the company as a multinational giant in the competitive market. One of the projects would require your company to purchase a $500 million software package. Company executives believe the investment would pay off; however, before approving such a costly purchase, they want to identify someone in the IT department who has the expertise to work with this highly specialized package. The person would play a key role within the buying center. Which role would the IT expert be likeliest to play?

User

You work for a marketing company that specializes in researching market shares and profits related to miscellaneous consumer products. To ensure that the data you have collected are accurate, you categorize the consumer products of interest according to the customers' buying behavior: convenience, shopping, and specialty purchases. Choose the product that would be best described as a shopping purchase.

A house

You work for a fabric company that sources unique materials from around the world. In the past, you have focused solely on the business of supplying fashion designers with fabric they make into dresses. However, you've recently recognized an opportunity to expand the business by supplying stores like Jo-Ann Fabrics that sell sewing and craft goods to consumers who sew at home. If you pursue this opportunity, in which direction would your company be expanding?

From a commercial market into a reseller market

You work for a popular restaurant chain. Now your firm wants to transition into selling prepared foods to supermarkets. How is the company's form of promotion most likely to change?

From an emphasis on advertising to an emphasis on personal selling

Companies face different challenges depending on the type of brand they choose to market. Each type has a distinct set of characteristics. Fill in the blanks with the word(s) from the drop-down list that would correctly describe these characteristics. The type of product sold with the branding effort is classified as Some manufacturers refuse to produce brands. When Nabisco began to offer its Ritz cracker brand in different sizes and in salt-free, whole-wheat, and low-fat varieties, it was engaging in

Least; generic; private; line extension

You have entered a stage in the organizational buying process. The scenarios below indicate which stage you have entered: At this stage in the buying process, you will consider how well a particular supplier has responded to your company's needs. Because your company is so large, it uses standardized methods to judge whether a vendor has met or exceeded the company's expectations. Which of the following is an added benefit of the stage in the organizational buying process identified above?

Measurement of whether or not a vendor has reduced your employees' workloads

Business markets differ from consumer markets in several ways. Choose the correct example(s) of these differences.

Personal selling is usually emphasized more in business than consumer markets

Cassie is failing her "Marketing 101" course. She has to get at least a 97 percent on the next exam to ensure a passing grade this semester, but she is still confused about the difference between two key dimensions of brand personality: relevance and esteem. As her study partner, you want to help Cassie pass the exam. Select the description of this concept that you will urge Cassie to review.

Relevance reflects the brand's pertinence to its target; esteem is a combination of quality perception and other opinions about the brand.

The executives of Majority Productions, an entertainment and public relations agency with offices in five countries, are trying to figure out why their marketing strategies in four of the five countries appear to have failed. The company is thriving in the United States, where executives built the company's first office about a decade ago. At the time, they collected primary data that were extremely helpful, leading to a 20-percent growth for the company within the first two years. Because the company's marketing strategies worked so efficiently, the executives saw no need to conduct market research before they entered the other markets. You are diagnosing Majority Productions' inability to compete in international markets. Which of the following is likely to be a major factor in the company's failure in other countries?

The executives of Majority Productions needed to bolster their knowledge about consumers in other countries.

You are preparing a seminar for your colleagues on the topic "How Marketers Protect Brand Equity." Which of the following pairs of terms and examples should you use when you explain the symbol that distinguishes a product?

brand mark, Nike swoosh

You work for a firm that franchises high-end spas. The company wishes to identify promising new locations. Your marketing research consultant believes you can forgo the costly collection of primary data, because secondary data will provide the key information you need. You were skeptical, but his or her presentation changed your mind. His or her presentation included all of the following points except:

There are research services able to identify neighborhoods with high concentrations of people likely to spend time at spas.

Which of the following positioning strategies is inaccurately described?

To succeed with value positioning, a company must offer the lowest price.

The North American Free Trade Agreement (NAFTA), the World Trade Organization (WTO), and the European Union (EU) were all formed to achieve the same purpose of removing trade restrictions between countries. However, there are important differences in the characteristics of these organizations. Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. Each word or term may be used more than once. The. involves more than 150 countries. NAFTA involves. countries The. is a monitor of trade policies and mediator of The has adopted a common currency among its members. The. promotes human rights.

World Trade Organization; 3; World Trade Organization; trade disputes; European Union; European Union

Last year, you left a job in consumer marketing to take one in business marketing. The shift required you to become accustomed to all of the following changes except:

You have more potential buyers than before

You are the vice president of sales and marketing for a major home appliance retailer, and you just received the quarterly global sales report for the second quarter. The first figure that you notice in the report is the dramatic decline in sales in the Latin American territory. You suspect that the falloff isn't unique to your company, but instead is consistent with poor performance in Latin America across many appliance stores and manufacturers. The only way to confirm your hypothesis is with a compilation of market-wide industry data that has been published by various economic think tanks but that your firm can't afford to acquire. Choose the type of outside research specialist best suited to help you—if any.

a research aggregator

You are a business consultant and have a contract with the Small Business Administration (SBA) to conduct training seminars for people seeking loans from the SBA to start new businesses. The SBA wants to give these prospective business owners as much information as possible so they have a greater chance of success. You are conducting a seminar on the different types of products that target business markets. Choose the type of business product that tends to have a long life and be very expensive, together with the correct example of such a product.

installation; customized computer system

Nederlander's first expansion globally was to purchase three theaters in London, England. This strategy of entering global markets is called

international direct investment

The director of marketing at your firm is very interested in developing new packages. However, he or she doesn't want a scattershot development process; he or she wants the development team to prioritize the first objective of packaging. This means he or she will instruct the team to put its emphasis on:

physical protection

Zappos' product selection includes performance athletic shoes, outdoor coats, contemporary shirts, couture accessories, and more. This selection best illustrates the firm's:

product mix breadth

As Under Armour expands into new markets with new product offerings, it must be sure to maintain—and maximize—its brand recognition and reputation. Help Under Armour develop and implement its brand strategy. In the United States, Under Armour is commonly associated with baseball and football. In order to penetrate deeper into the market for Major League Soccer (MLS) fans, it has developed a line of premium jerseys (considered shopping products) that feature the insignias of different MLS teams. One option is to launch a $2 million advertising campaign. Another option is to spend $1.5 million on advertising and the other $500,000 training salespeople at their retail partners about the new products. Which option should they choose?

Advertising by producer and personal selling by retailer

You work in the stock market. Stock markets allow businesses to raise additional funds for new projects, business expansions, and capital investment plans. Moreover, they enable the public trading and selling of market shares of a company. Major purchases of stock typically require input from various parts of the organization, including senior management and accounting. One of your colleagues, Amos, works in the IT department of one of the U.S.-based tech firms for which you are trading. Amos is in charge of receiving information about new technologies from commercial sources, universities, and Web-based sources, to name a few, and then working with other IT professionals to find solutions. Which of the following statements is true about the buying center described above?

Amos has a dual role as a gatekeeper and influencer

Companies that decide to pursue global marketing efforts have a choice of several ways to initiate building international business organizations. These alternatives give ample choices for the firm to match financial resources, envisioned outcomes, and comfortable risks. Which of the following descriptions of global marketing alternatives is(are)accurate?

An exporter markets domestically produced merchandise to customers in other countries. In a joint venture, the company shares risks, costs, and management with partners.

While totaling your quarterly receipts for your business, The Breakfast Bar, you note that a sizable amount of your revenue comes from selling packaged coffee beans to regular customers who come in every day for an extra-large cup of coffee togo. Your plan for the next quarter is to promote your selection of fresh roasted beans with a buy one, get one half off incentive to encourage these customers to purchase more and/or try something new. Which segmentation approach are you employing to bolster sales for the next quarter?

Behavioral.

Based on sales reports and customer feedback, you have mapped five brands of toothpaste marketed by your company so that you can get a visual of how each rates with the public. Based on the positioning descriptions below, which brand is considered by consumers as the best overall value? Brand A: Low Price; Low Quality. Brand B: High Price; High Quality. Brand C: Moderate Price; Moderate Quality. Brand D: Moderate Price; High Quality. Brand E: High Price; Low Quality.

Brand D

Airbnb, the online home rental business, has partnered with the Hearst publishing company to create Airbnb Magazine. This is primarily an example of:

Brand extension

After spending time in the marketing department of a cookware company based in Ohio, you've been told to prepare for a move to a new international division. Your boss hasn't specified its location—only that it will be outside the most mature markets for many U.S. consumer products. Based on that information, you can assume the move will not take you to:

Canada

Estee Foods has succeeded in the highly competitive candy market by focusing on sugar-free sweets that meet the needs of people on strict sugar-free diets, like diabetics. Estee practices which of the following strategies for reaching its target market?

Concentrated marketing

Making soap has been your hobby for some time, but now you are contemplating turning your hobby into a small business. You use only hypoallergenic ingredients in your small batch soaps. Now sales come by word of mouth, but you plan to promote your handmade goods and sell them on one or more online outlets to people who are sensitive to the cleaning agents used in mass market soaps. Which marketing strategy will fit your newly established business? Select the best answer.

Concentrated marketing, because you will concentrate on meeting the needs of a single market segment.

You work for a beverage distribution company and have been asked to support the marketing research team in the preliminary phases of their process. You have been tasked with finding out which beverages are most popular at sporting events, so you visit local stadiums, talking with fans about their preferences and to concession owners about their beverage sales. You also gather samples of sports-oriented ads being run by your competitors. Your teammates ask you why you chose to employ this strategy. Which of the following themes explain your choice?

Conducting exploratory research may include talking to customers and retailers, and/or evaluation of available competitive data.

Your large retail store sells power tools and construction supplies, and your customer base is made up primarily of home improvement contractors, subcontractors, and serious DIYers. But business has stagnated now that the housing market has seen a downturn. What can you do to boost your sales and keep your business solvent?

Consider marketing to a segment that meets the criteria for effective segmentation.

Which of the following is not part of the international political-legal environment that affects U.S. firms operating abroad?

Cultural norms

You have been working for a popular hotel chain for the last several years and want to use some of the data you have pulled from the data warehouse to answer a series of questions you hope will help you better strategize for the company's upcoming marketing campaign. You are particularly interested in evaluating customers' past behavioral patterns when it comes to rewards programs and promotions. You need an efficient way to sort through decades of information on customer profiles. Which of the following strategies would you use to acquire the information you need?

Data mining

You are in charge of ensuring that all labels used on your food company's packages are in compliance with the law. To remind employees of this responsibility, you distribute a checklist of label requirements. Which of the following does not appear on your checklist?

Disclose the company's website URL

As a marketing strategist just hired by your company, you want to be respectful of your new colleagues. However, during a meeting to plan research into the firm's global opportunities, a coworker clearly errs in one of his or her comments. You feel obligated to point out his or her mistake. Which of the following statements do you point out?

Face-to-face interviewing is the least common method for conducting primary research outside the United States.

You're the marketing director for a startup firm in the snack food industry. In the past, you've sold only to small specialty stores, but now you hope to crack a major supermarket chain. As you plan your approach to this prospective new buyer, which of the following likely influences on its decision should you consider?

Interpersonal influences and organizational factors

Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. Free trade has not produced all of the economic impacts that were originally predicted. At the same time, it is known that global shifts in production and trade have generally consumer costs, company profits, and product

Lowered; improved; increased; choice

Aiden is in charge of the supplies inventory at his manufacturing company. Which of the following items is not in Aiden's inventory?

Smartphones

After interviewing candidates for the job of business marketing specialist, Fred decided to eliminate one—despite her strong paper credentials. Explaining his decision to you, Fred quoted a comment that betrayed the candidate's misunderstanding of B2B market segmentation. Which comment did Fred quote?

When I segment customers demographically, I believe in concentrating on how they use my product

You head a marketing team preparing to launch a revised global marketing campaign for a high-end jewelry and accessory company. You review the previous strategies your team has implemented: You started with selling delicate, antique-looking jewelry across all international markets, with the same theme of "Looking Your Feminine Best." Then your team experimented with some countries using the same jewelry, but with a theme of "Investing in Your Best Self." For other countries, your team used the same theme of "Investing in Your Best Self" to sell jewelry-encrusted purses. Buoyed by that success, your team plans a dramatic marketing change: An award-winning designer recrafted the profile of the jewelry to be chunky, rather than delicate. Your team came up with the slogan of "Be Visibly Lovely." Choose the international product and promotional strategy that does not illustrate a form of adaptation.

You started with selling delicate, antique-looking jewelry across all international markets, with the same theme of "Looking Your Feminine Best."

A job description posted on Monster.com reads as follows: The individual will oversee each of the Skin Care Division's lotion and lip balm lines. In particular, he or she will be expected to maximize the profitability of all brands within those lines. This description suggests the company is looking for a:

category manager