Marketing Strategy Midterm
Fans can enter the sweepstakes starting Thursday for an undisclosed limited time. It's unclear how many packs of the soda will be given out, although they did announce that ten grand prize winners will receive "an epic collector's package of PEPSI x PEEPS." Marshmallow Cola is an example of
Co-brand
A consumer who visits a company's website to learn about their products is most likely using which of the following information sources?
Commercial
Which of these is NOT one of the dimensions of a product mix?
Complexity
Volkswagen concentrates on the small-car market and Porsche on the sports car market. These would be examples of what is called ________.
Concentrated marketing
The level of engagement and active processing undertaken by the consumer in responding to a marketing stimulus is called ________.
Consumer involvement
One of the features of a refrigerator is its ability to cool any food kept inside it. Using the 5 product levels, cooling will be at what level
Core product
Consumers in different countries behave differently due to differences in
Culture
Age, gender, income, occupation, level of education, religion, ethnicity, nationality, employment status, population density, social class, household size, and stage in the life cycle are all considered ________ factors.
Demographic
A food manufacturer's strawberry jam product portfolio has 17 variants, taking into account the various sizes and specific product formulations. This figure is a measure of ________.
Depth
In ________ marketing, the firm operates in several market segments and designs different products for each segment.
Differentiated
Which of these is NOT a typical function of product labeling?
Discussing the company
Assume a sporting goods company has four product lines with 12, 12, 24, and 48 individual products. What is the average length of its product lines?
24
The characteristic of useful market segments that relates to whether the segments can be effectively reached and served is whether the segment is ________.
Accessible
First Audi put up the billboard on the left side. After a few days BMW put up the one on the right. Both BMW and Audi use the following positioning strategy
Against a competitor
In the following ad, Verizon is using which positioning strategy Ex: Verizon Wireless vs AT&T
Against a competitor
Pampers divides its market demographically on the basis of ________ into prenatal, new baby, baby, toddler, and preschooler.
Age
A smart fridge can do the following. Look up recipes and have your fridge read the steps while you cook. Create grocery lists that sync to your smartphone in real-time. Set expiration dates and receive notifications to use food while it's fresh. Using the 5 product levels, these features of any refrigerator can be classified as
Augmented product
Tesla decided to break into the electric vehicle (EV) marketplace with a luxury sports model. At this time, the electric vehicle market valued economy over form and function. Tesla decided not to compete with the Chevy Volt or Toyota hybrids and instead go after the high-end market. Tesla's positioning strategy would be
Away from a competitor
People who play football have different shoe preferences based on where they play the sport. Those who play football in indoor courts will want shoes that have indoor soles that are made up of non-marking rubber. These soles are flat with grooves, fit for hard wooden floors. On the other hand, those who play football on grass pitches will require firm ground boots that provide grip on grass pitches. Athletic Footwear Companies that make two different types of shoes for football players based on the above requirement are segmenting consumers based on
Benefit
Crest Tooth is using the ____________ brand positioning strategy. Ex: Helps stop cavities before they start
Benefits offered
Skincare brands often keep different customer needs in mind while targeting different segments. Different skin care products target different skin problems, such as signs of ageing, hyperpigmentation, dark circles, pimples, dryness, uneven skin tone, and so much more. Customer segments that want anti-ageing products will want to purchase creams and serums that target wrinkles, skin-sagging, and fine lines. Customer segments that want to get rid of their undereye bags or undereye discoloration will want eye creams that target these issues and fix them. Skincare brands that make different skincare products based on the above requirement are segmenting consumers based on
Benefits offered
Chilleez is an example of
Brand extension
The steps consumers typically go through as they research, consider, choose, purchase, and use or dispose of products is often referred to as the ________.
Buying decision process
A company positioned in the "middle" market introduces a lower-priced product line. What type of line-stretching is this?
Down-market stretch
When Mercedes successfully introduced its C-Class cars at $30,000 without injuring its ability to sell other Mercedes cars for $100,000, it was an example of a successful ________.
Down-market stretch
In the ________ step of the market segmentation, targeting and positioning process, the marketer evaluates the segments using criteria such as market growth and company resources.
Evaluating market segments
Please read the article "Targeting the feminization of alcohol marketing". his article is at the same place where you find your lecture slides. What is the basis of segmentation here
Gender
Hilton Hotels customizes rooms and lobbies according to location. Northeastern hotels are sleeker and more cosmopolitan. Southwestern hotels are more rustic. This is an example of ________ segmentation.
Geographic
Segmenting on the basis of neighborhoods (zipcodes) is the ________ method of segmentation.
Geographic
________ divides the market into units such as nations, states, regions, counties, cities, or neighborhoods.
Geographic segmentation
After months of tinkering, your product development lab has perfected a way to infuse pancake batter with kale and spinach without significantly altering the taste. You know parents will be delighted at finding a new way to sneak healthy vegetables into their children's diets. Now you need a package design that jumps off crowded grocery store shelves so parents can find it when they shop. Given the nature of the innovation, which of these highlight colors would be the most logical choice?
Green
Which of the following products is most likely to be characterized by low involvement but significant brand difference?
Ice cream
Bespoke tailoring, in which tailors create a unique garment for each individual customer, is an example of ________.
Individual marketing
Shutterfly is a website and app that allows you to create canvases, photobooks, calendars, and even items with your own photos laminated on to them. While Shutterfly has gotten creative with personalized emails and subject lines, one unique thing it did recently was personalize item offerings on its app. If you download the Shutterfly smartphone app, create an account, and give Shutterfly permission to access your photos, it will automatically identify photos with faces in them and place them on items that you can purchase from the app — like these mugs, for example. Shutterfly uses the following market coverage strategy
Individual marketing
________ branding is a special case of co-branding involving creating brand equity for materials, components, or parts that are necessarily contained within other branded products.
Ingredient
Which of the following statements about market segmentation is true?
It is a process of identifying and profiling distinct groups of buyers who differ in their needs and wants.
Which of these is NOT one of the major bases for segmentation?
Left handed vs right handed
When manufacturers have limited production capacity, they need to take the help of other manufacturers to cover the shortfall. This brand strategy is called
Licensed Brand
When Gary was a high school student, he enjoyed rock music and regularly purchased hip clothing sported by his favorite rock band. However, five years later, when Gary became an accountant, his preference shifted toward formal clothing. Which of the following personal characteristics is likely to have had the most influence on Gary's preferences during his high school days?
Life cycle stage
Marriage, childbirth, and divorce constitute the ________ that shape the consumption pattern of individuals.
Lifecycle stage
Newlyweds in the United States buy more in the first six months than an established household does in five years. Newlyweds are an example of a(n) ________ segment.
Lifestyle stage
What occurs when any company lengthens its product line beyond its current range?
Line stretching
When a company lengthens its product line beyond its current range, what is the phenomenon called?
Line stretching
The following strategy of mixing products of different varieties in one package will succeed in the following situation Ex: Frito-Lay Classic Mix
Low involvement - significant differences between brands
Establishing and communicating the distinctive benefit(s) of the company's market offering for each target segment is called ________.
Market positioning
A ________ consists of a group of customers who share a similar set of needs and wants.
Market segment
Marketers at Johnny Inc. believe in putting their customers ahead of everything else. Their products are carefully designed to meet customer requirements and the entire focus is on achieving customer satisfaction. Since Johnny Inc. primary focus is the customer, what marketing concept would you say they believe in.
Marketing concept
A common label for people born between 1982 and 2000, is ________.
Millennials
The sale of turkeys in the United States is highest in mid- to late November, as people buy turkeys to serve at Thanksgiving. Grocery stores that specifically advertise turkeys at this time of year are segmenting on the basis of ________.
Occasion
What segmentation variable is used by the De Beers Diamond company when it markets rings for engagement, wedding, anniversary etc.
Occasion
For consumers seeking product information, they will have maximum faith in the following source of information (Hint: which source would be the most unbiased).
Personal
Read the following story "Trump's Tariffs Have Wiped $1.4 Billion Off Of Harley-Davidson's Market Cap" at Trump's Tariffs Have Wiped $1.4 Billion Off Of Harley-Davidson's Market Cap (forbes.com)Links to an external site. This is an example of the following type of environmental variable
Political
Wisconsin cheese manufacturers are being hit by the "geographic naming" restrictions that are imposed by European governments. The "geographic naming" restrictions would be the following type of environmental variable
Political
Consumer satisfaction is related to the _________ stage of the buyer decision process
Postpurchase behavior
When manufacturers have excess production capacity, they can use their excess production capacity to produce some more and then sell it under the following type of brand
Private Brand
The buying process starts when the buyer recognizes a(n) ________.
Problem
In the exact moment you run out of laundry detergent and realize you need to pick some up at the store, you are in the ________ stage of the buying decision process.
Problem recognition
A ________ is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.
Product
In the following ad, Mazda is positioning itself on Ex: 35 MPG HWY
Product attribute
The following Toothpaste is using the following brand positioning strategy
Product attribute
In the following chart, white/yellow bar is the R&D budget per car and red bar is the advertising budget/per car. It would seem Tesla does not spend any money on advertising and their entire budget is spent on creating the best electric car in the market. Tesla most likely believes in the following concept.
Product concept
Webmax Inc. produced and marketed cameras. After considerable research and development, they developed a new digital camera that had an array of new features that no other camera has. Webmax was so sure about the new offering that they even reduced their marketing budget. Webmax majority focus is on their camera that they want to be the best in the market. Based on this what type of "marketing concept" does Webmax believe in?
Product concept
A group of products within a product class that are closely related because they perform a similar function, are marketed through the same outlets or channels is known as a ________.
Product line
A ________ is the set of all products and items a particular seller offers for sale.
Product mix
As a major steel manufacturer, SteelMakers Inc. focuses on having the most efficient manufacturing processes in place. The company believes that its competitive edge lies in its ability to offer the best prices. They also maintain an excellent distribution network that ensures wide availability of their products. SteelMakers has a ________ orientation.
Production
Walmart carry the lowest prices in the market and there is always a Walmart within driving distance. Walmart follows the following concept
Production concept
When the Modern Museum of Art separated its consumers by whether they were culture-oriented or outdoor-oriented for its new exhibit on art that used natural materials, they were using ________ segmentation.
Psychographic
If a marketing manager segments the market into culture-, sports-, or outdoor-oriented groups, he or she is segmenting the market on the basis of ________.
Psychographic lifestyle
Study the copy of this Harley Davidson ad. It is trying to appeal to consumers who like the idea of "Freedom". This idea of Freedom would appeal to which consumer characteristics.
Psychographics
The fact that Honda described its boxy Element as a "dorm room on wheels," but then attracted so many baby boomers that the average age of the Element turned out to be 42 is an illustration of the fact that baby boomers may be ________.
Psychologically young
Consumer Reports magazine is the following type of information,
Public
Which of these is NOT one of the major information sources listed in the chapter that consumers rely on for purchase-related information?
Reflective
The ________ concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization's products.
Selling
Unsought Goods are goods that the consumer does not know about or does not normally think that they need. If consumers do not think they need a product, they may not even go out to purchase them. The classic examples of unsought goods are cemetery plots, funeral services, encyclopedias, and reference books. If you end up becoming the marketing manager of a company that makes unsought product, then the marketing concept that you would follow will be
Selling
Study the following ad of Ralph Lauren. Which characteristic affects consumer purchase of Lauren.
Social class
Read about Pampers '1 pack = 1 vaccine" campaign. In this campaign, Pampers is following the following concept
Social marketing concept
This marketing strategy of "Greenwashing" is being influenced by the following environment variable
Social-cultural
Please research the Toms' shoes' business model, which is known as the "one for one concept" mode. It refers to the company's promise to deliver a pair of free shoes to a child in need for every sale of their retail product. They follow the following concept
Societal Marketing Concept
The gigantic "Singles Day" shopping extravaganza in China is a reflection of which variable in demographic targeting?
Stage in life cycle
According to the ________ criterion for useful market segments, a segment should be the largest possible homogenous group worth going after with a tailored marketing program.
Substatial
Of key interest to marketers are the major informational sources to which the consumer will turn and the relative importance of each. Which of the following can be considered an experiential information source?
Taking a car for a trial ride at the dealership
The market-mix does not consist of the following
Target consumer
The process of selecting one or more market segments to enter is called market ________.
Targeting
Identify the concept that emerged in the mid-1950s as a customer-centered, sense-and-respond philosophy.
The marketing concept
Which of the following holds that consumers prefer products that are (a) widely available and (b) inexpensive? (Hint: Henry Ford pioneered this approach)
The production concept
Coca-Cola's original marketing strategy that offered a single drink Coca-Cola Classic in a single sized bottle with the advertising theme "Coke is it," is an example of ________ marketing.
Undifferentiated
In ________, the firm ignores segment differences and goes after the whole market with one offer.
Undifferentiated marketing
Which of the following categories of goods and services is most likely to require an aggressive use of the selling concept?
Unsought goods
In this ad, M&M is positioning itself based on Ex: Pumpkin on ad
Usage occasion
The Ocean Spray story starts in 1930 when three passionate, independent cranberry growers found the key to expanding the superfruit's success: a single cranberry-growing family! By coming together in one cooperative, Marcus Urann, John Makepeace and Elizabeth Lee worked together to create deliciously innovative products with the fruit they loved. The best part? They continued to grow their cranberry family along the way, which now includes over 700 grower families across North and South America! See a vintage ad by Ocean Spray. What was their original positioning strategy (based on the ad) Ex: turkey on ad
Usage occasion
Food warehouses, such as Costco and Sam's Club segment consumers based on the following characteristics
Usage rate
If Nordstrom began offering office furnishings in addition to its various clothing and shoe lines, this would be an instance of increasing the ________ and decreasing the ________ of its product portfolio.
Width; consistency
The target consumer for these Hershey chocolate bars are
Women
Which of these post-purchase actions by a customer could be considered the highest level of success from a marketer's point of view?
Writing a social media post to recommend the product
The marketing concept holds that ________.
a firm should find the right products for its customers, and not the right customers for its products
After making a major purchase like a car or house, a consumer might experience disquiet (technically called ________) from realizing that they are locked into a purchase and they cannot get out of it.
dissonance
The buying process starts when the buyer recognizes a problem or need triggered by ________ or ________ stimuli.
internal, external
The ________ concept holds that consumers will favor offerings with the best quality, performance, or innovative features.
product
Managers of ________ businesses concentrate on achieving high manufacturing efficiency, low costs, and mass distribution.
production concept
