MKT 449 Case 1-10 Quizzes
revolvers
those who do not pay off their balances in full each month
What is the source of Yelp's revenues?
Advertising
Which of the following is NOT in Xiaomi's business ecosystem? Software Hardware Internet Finance
Finance
In 2014, which of the following is NOT annual membership fee of Angie's List ?
$20
Angie's List provides three tiers of services: Green, Sliver, and Gold. Customers can access the Green service for free. The Sliver service charges customers $24.99 per year. $99.99 is the annual price for the Gold service. A market research shows that 50% of subjects are willing to choose the Green service. 30% of subjects are willing to choose the Sliver service, and 20% of subjects prefer the Gold service. Based on this information, what is the average revenue that Angie's List can make from one customer? $27.495 $34.995 $124.98 $41.66
$27.495
According to the case, what is the annual fee of Chase Sapphire Reserve?
$450
Xiaomi formed an international management team to enter the overseas markets. The case of Xiaomi (P. 5) state "at first, Xiaomi tried to sell its products through e-commerce platforms in Hong Kong and Taiwan. Hong Kong users could buy Xiaomi phones from the Xiaomi website, using PayPal for payment... Taiwanese consumers could buy Xiaomi phones from the Xiaomi website, paying with eATM, credit card, PayPal, or 7-Eleven Bill Pay." How many market channel levels are involved in Xiaomi's channel design in Hong Kong and Taiwan?
0 level
Which of the following tactic has Chase Sapphire Reserve used to retain customers? 5450 annual fee 100,000 points sign up bonus after spending $4.000 in the first three months. 2 points per dollar on travel dinning 1.5 points to dollar conversion towards travel
1.5 points to dollar conversion towards travel
Which of the following tactics has Chase Sapphire Reserve used to retain customers?
1.5% points to dollar conversion towards travel
Which year was Opera Philadelphia founded?
1975
Which year was Angie's List established?
1995
When was Xiaomi founded?
2010
Which brand focuses on the niche market of sneakerheads?
ASICS Tiger
According to the case, which of the followings is correct? -ASICS announced that it would stop sponsoring the NYC Marathon after the 2016 race because it was well known among NYC marathon runners. -ASICS believes that it will be successful in the athleisure market as long as it launches differentiated products. -Onitsuka Tiger targets young sneaker fans -ASICS acquired Runtastic in August 2015 for $239 million.
ASICS announced that it would stop sponsoring the NYC Marathon after the 2016 race because it was well known among NYC marathon runners.
Marketers need to provide recommendations for an identified problem. Which is not criterion for a good recommendation? Be specific Be creative Be relevant Be wordy
Be wordy
Geographic segmentation, demographic segmentation, psychographic segmentation, and behavioral segmentation are the four common methods of market segmentation. Chase used one method to divide its customers into transactors, revolvers, and dormants. Transactors are those who paid their balances off in full each month to avoid paying interest fees. Revolvers are those who did not pay off their balances in full each month. Dormants are those who carried, but did not use their cards frequently. Which market segmentation method did Chase use to identify transactors, revolvers, and dormants? Demographic segmentation Geographic sermentation Behavioral segmentation Psychographic segmentation
Behavioral segmentation
How did Xiaomi sell its phones in Hong Kong?
Collaboration with local operators E-commerce platforms Local dealers
According to the case, which of the following is the exclusive benefit of Angie's List's premium product?
Complaint resolution
Which method is used in the case to help Angie's List make decisions?
Conjoint analysis
Which of the following is about the product concept?
Consumers favor products offering the most quality, performance, or innovative features.
Based on scope of competition and source of competitive advantage, Porter introduced four strategies for a company to position itself. The four strategies are cost leadership, differentiation, cost focus, and differentiation focus. Which positioning strategy did Kindle Fire use in the case?
Cost Leadership
Based on scope of competition and source of competitive advantage, Porter introduced four strategies for a company to position itself. The four strategies are cost leadership, differentiation, cost focus, and differentiation focus. Which positioning strategy did Xiaomi use in the case?
Cost Leadership
Based on the scope of competition and source of competitive advantage, Porter introduced four strategies for a company to position itself. The four strategies are cost leadership, differentiation, cost focus, and differentiation focus. If Opera Philadelphia chooses to focus on casual attenders who are sensitive to price, which positioning strategy will Opera Philadelphia be more likely to use? Cost Focus Differentiation Cost Leadership Differentiation Focus
Cost focus
ASICS aims to increase its annual sales to 750 billion yen with operating income of at least 10% of sales. It has made some strategies to reach the goal. Which of the following is NOT the core strategy? Expanding the customer base from serious runner to a wider audience Create its own e-commerce platform Having more company-owned retail outlets and direct interactions with end customers Communicating a consistent brand worldwide
Create its own e-commerce platform
Relationship marketing involves two activities: customer acquisition and customer retention. The initial sign-on bonus for Chase Sapphire Reserve was 100,000 points. Which relationship marketing activity are the 100,000 points about? Neither customer acquisition nor customer retention Both customer acquisition and customer retention Customer acquisition Customer retention
Customer acquisition
Based on Ansoff Matrix, a firm can have four strategies to grow: market penetration, new products & services, market development, and conglomerate diversification. ASICS has two other brands: Onitsuka Tiger and ASICS Tiger. Which growth strategy did ASICS use for Onitsuka Tiger?
New products & services
What is the problem that Angie's List is facing in the case?
Decline in growth rate of member numbers
Chase decided to reduce the bonus points of signing up Chase Sapphire Reserve Card from 100,000 to 50,000. Which of the followings is not the consequence of this reduction?
Decreased market share Lower customer loyalty Lower customer acquisition rate Decreased perceived customers value
Geographic segmentation, demographic segmentation, psychographic segmentation, and behavioral segmentation are the four common methods of market segmentation. The target market of the Chase Sapphire Reserve Card is 25-44 years old with incomes of $150,000+. Which segment method did Chase use to find its target market?
Demographic segmentation
A company has six modes to enterinto a foreign market. These six modes are indirect exporting. direct exporting. licensing joint ventures, acquisition, and direct investments To enter the market in Hong Kong and Taiwan. Xiaomi relies on e-commerce platforms to sell its products to Hong Kong and Taiwan. For example, Hong Kong users can buy Xiaomi phones from the Xiaomi website, In the case, which foreign market entry mode is Xiaomi using to enter the Hong Kong market? Indirect exporting Direct investments Direct exporting Licensing
Direct exporting
Company XYZ in the USA does not plan to manufacture in Mexico but plans to open its own retailing store there. Which foreign market entry mode XYZ is using?
Direct exporting
Which of the following foreign market entry mode has the highest risk?
Direct investment
A case usually contains some of the following elements: problems, decisions, rules, and evaluations. In the case of Angie's list, conjoint analysis was used to decide whether Angie's List should provide a tier of free membership. Conjoint analysis in the case is Decision Evaluation Rule Problem
Evaluation
To compete with Amazon, Walmart acquired Jet.com. Meanwhile, Walmart is integrating its online business into its offline business, that is, omnichannel marketing. To effectively implement omnichannel marketing, Walmart needs to leverage its assets. Which of the following is NOT Walmart's key assets? -Walmart Pay -Smooth supply chain -Wide network of physical stores -Excellent customer service
Excellent customer service
According to the case, which of the following is NOT Angie's List's competitors? Google Amazon Facebook Porch
Customer perceived value is the prospective customer's evaluation of all the benefits of an offering.
False
In the case of Angie's List. the purpose of providing a free tier membership is to increase revenue.
False
MY ASICS is ASICS own fitness app, which was launched in 2013.
False
The Academy of Music is Opera Philadelphia's upstream partner.
False
Xiaomi was the fifth-largest smartphone company in the world in 2019.
False
Xiaomi was the first Chinese smartphone brand that tried to internationalize.
False
Marketers can create the need for social status.
False -Marketers do not create needs. Needs pre-exist marketers.
Based on Ansoff Matrix, a firm can have tour strategies to grow: market penetration, new products & services, market development. and conglomerate diversification, ASICS has two other brands: Onitsuka Tiger and ASICS Tiger. Which growth strategy did ASICS use for Onitsuka Tiger? Market perietration Market development Conglomerate diversification New products & services
New products & services
Which of the following segmentation strategy is NOT included in the case for Chase to identify different types of consumers? Geographic Behavioral Psychographic Demographic
Geographic
Which is NOT the criterion for Xiaomi to select new markets? Government support The proportion of young people in the population A fast-growing period of e-commerce Operators' relatively weak control over phone-selling channels
Government support
Which is NOT the problem Xiaomi is facing in the case? Trust Crisis Product Patent deficiency Unsatisfactory sales High employee turnover
High employee turnover
According to the case, what is the current positioning of ASICS shoes?
High quality and high functionality
Which of the following is NOT the variable for demographic segmentation in the case? Hobby Age Income Education
Hobby
Which market does Angie's List focus on?
Home repair and maintenance
One marketing practice is to use a fast sell-out to enhance the perceived popularity and value of the product. What is the name of this marketing practice?
Hunger marketing
The objective of marketing management is to ___________.
Increase a firm's competitive advantage
In the case of Angie's List. Angies List decides whether they need to introduce a free tier of services or not. Which of the followings is NOT the potential benefit of providing consumers with free access to services? Increase revenues Increase customer satisfaction Enhance innovative capability Increase market share
Increase revenues
Which of the marketing concept involves "the task of hiring, training, and motivating able employees who want to serve customers well"?
Internal marketing
In a case, a problem is a situation in which there is a significant outcome or performance and there is no explicit explanation of the outcome or performance. Which of the following is more likely NOT to be a problem in a case? 10 percentage decline in profits Less advertising Low customer satisfaction More product returns
Less advertising
In a case, a problem is a situation in which there is a significant outcome or performance and there is no explicit explanation of the outcome or performance. Which of the following is more likely not to be a problem in a case? Low customer satisfaction 10 Percentage decline in profits Less advertising More product returns
Less advertising
Which of the followings is NOT the reason for people's declining interests in opera music? Performance length Expensive tickets Audiences struggling with languages Limited selections
Limited selections
There are four brand development strategies based on whether brand name and product/service category are existing or new: line extension, brand extension, multiple brands, and new brands. Chase has three different credit cards: Chase Sapphire, Chase Sapphire Preferred, and Chase Sapphire Reserve. Which brand development strategy is used for the product portfolio of Chase Sapphire?
Line extension
The product life cycle has four stages: introduction. growth, maturity, and decline (see the image below). Xiaomi made plans to enter the India Market is because smariphone was at the stage of
Maturity
The case mentions that the Chase Sapphire brand has many strong brand associations. Which of the following is NOT the brand association? More contemporary Understands me My father's credit card Modern
My father's credit card
4Ps are the classic marketing mix. Which of the following is NOT one of the 4Ps? Product Price Package Place
Package
Which of the followings is NOT the change the opera industry was facing? Geographical Technological Political Preferential
Political
Angie's List provides three tiers of services: Green, Sliver, and Gold. Customers can access the Green service for free. The Sliver service charges customers $24.99 per year. $99.99 is the annual price for the Gold service. Based on this information, which pricing method is used by Angie's List?
Psychological Pricing
Who are "those with an average rating grade of B and better with at least two reviews in the last three years?"
Qualifying service providers
One of the reasons for banks to issue credit cards is to make revenues from cardholders. Based on the case of Chase Sapphire, which of the followings is NOT the source of a bank's revenue from a credit card? Inter-change fees paid by merchants as a percentage of each transaction amount Cardholder fees Referral rewards Interest paid by consumers on unpaid card balances
Referral rewards
One of the reasons for banks to issue credit cards is to make revenues from cardholders. Based on the case of Chase Sapphire, which of the followings is NOT the source of a bank's revenue from credit card? Cardholder fees Referral rewards Interest paid by consumers on unpaid card balances Inter-change fees paid by merchants as a percentage of each transaction amount
Referral rewards
Who managed the research- and strategy- development initiative?
Ryan Lewis
Which of the followings is the major reason for lapsed singled ticket buyers to leave Opera Philadelphia? Schedule Entertainment Preferences Financial Priorities Family Status
Schedule
STP is a classic market strategy model. What does "S" stand for?
Segmentation Target Positioning
Compared to direct exporting, direct investment is a riskier foreign market entry mode
True
Compared to direct exporting, direct investment is a riskier foreign market entry mode.
True
What was ASICS' targeted market in 2013?
Serious runners
Technology. Globalization, and Social responsibility are the three transformative forces in the new marketing realities. Which force does NOT help Xiaomi's Success in India? Globalization Technology All of the three option: Social responsibility
Social responsibility
Which of the following problems did Opera experience between 2010 and 2014?
Steep decline in household subscriber
Technology, Globalization, and Social responsibility are the three transformative forces in the new marketing realities. Which of these forces are involved in Xiaomi's success in India? Technology Globalization Technology and Globalization Social responsibility and Globalization
Technology and Globalization
According to the case, which of the following companies Devan did not work for before? Canadian Opera Company The Academy of Music Pacific Opera Victoria Opera Philadelphia
The Academy of Music
Which of the following statements is correct about Opera Philadelphia's competitor? The Center for Contemporary Opera is an opera company in Philadelphia. Opera Philadelphia does not have to pay attention to smaller opera companies. The Mann Center for Performing Arts is a competitor to Opera Philadelphia Center City Opera is one of the only three Opera Philadelphia's competitors in the City of Philadelphia
The Mann Center for Performing Arts is a competitor to Opera Philadelphia
According to the case, which of the following is NOT the reason for ASICS to go for the Fun Run segment? The number of its current customers is shrinking Its current customers may not recognize the improvements in its products The large number of runners in the Fun Run segment The competition in the Fun Run segment is not fierce
The competition in the Fun Run segment is not fierce
Which of the following about Runkeeper is NOT correct? The main source of revenue of Runkeeper is advertising Runkeeper uses the GPS function built into smartphone to track exercise statistics of activities. Jason Jacobs is the founder of Runkeeper Runkeeper provides analytics, coaching, and other advanced functionality
The main source of revenue of Runkeeper is advertising
According to the case, how many smartphones Xiaomi sold in India in 2014.
Three million
Banks segment their consumers into three types. The first is those who pay their balances off in full each month to avoid paying interest fees; the second is those who do not pay off their balances in full each month; the third is those who carry but do not use their cards frequently. Banks have different names for the three types. What is the name of the first type?
Transactors
ASICS decided to shift to a DTC mindset because it lagged in gathering consumers' information through e-commerce platforms such as smartphones, social networks, and online retailers.
True
Casual attenders are one of market segments Opera Philadelphia plans to appeal for its seasonal model.
True
Product ratings and reviews are a high O environment, that is, information available from others.
True
The Sapphire team used media platforms and influencers to market their credit cards.
True
What tagline did ASICS use in 2016?
Want it more
Which of the following decision is NOT mentioned in the case? -How should Sapphire, Sapphire Preferred, and Sapphire Reserve be differentiated to ensure they do not cannibalize each other? -What other new products that can address the needs of new customer segments? -What is the introductory point bonus for Chase Sapphire Reserve? -How many of consumers will renew their cards for another year?
What is the introductory point bonus for Chase Sapphire Reserve?
What decision is Angie's List going to make in the case?
Whether to introduce free membership
Who is Wanqiang Li?
Xiaomi's co-founder
Which is the target market of Chase Sapphire Reserve?
Young, affluent customers
There are five primary players in the credit card industry: issuers, cardholders, merchant acquirers, merchants, and network providers. Which role does Chase play in the case?
issuer
dormant
those who carry but do not use their cards frequently
