Marketing Test 3

Coke servings transported in a year? 2 billion 800 million 7.2 billion 88 billion 400 billion

88 billion

(Psychologically), the list price is also known as? The Everyday Low Price The perceptual benchmark price A reference price The Manufacturer's Suggested Retail Price (MSRP)

A reference price

Trader Joe's success is due to their? Product strategy Pricing strategy Promotion strategy Place strategy All 4P's

All 4P's

Product = core customer value + actual product + Packaging Returns policy Psychological Benefits Associated services

Associated services

On which dimension does the COMPETITOR have the lowest rating? Reliability Tangibles Empathy Assurance

Assurance

These were decisions related to? Capturing value Communicating value Creating value Delivering value

Communicating value, Delivering value

Premium pricing" probably adopts a? Competitor-based approach Cost-based approach Profit-based approach High-low strategy

Competitor-based approach

Innovation can "vary from completely-new-to-the-world to slightly modified" products and therefore is a(n)? Qualitative variable Continuum Inverted U curve S-shaped curve

Continuum

"80% of TJ's merchandise is private label"? Creating value Communicating Value Delivering value Capturing value

Creating value

If a product is more complex, I would expect it to? Diffuse slower Diffuse faster Diffuse at an average rate Not be adopted at all

Diffuse slower

Wal-Mart uses a? High-Low pricing strategy EDLP strategy Cost-based strategy Value-based strategy

EDLP strategy

Low price, smaller volume, but high profits. TJ's business must have: Low quality merchandise Inexpensive labor Efficient supply chain Economies of scale

Efficient supply chain

On which service quality dimension can Lou's substantially improve? Reliability Responsiveness Tangibles Empathy Assurance

Empathy

Which SQ dimension refers to "caring attention to customers"? Assurance Empathy Responsiveness Reliability Tangibles

Empathy

Target's tagline? Save big money Life. Well spent There's smart, and then there's ______ smart Expect more. Pay less

Expect more. Pay less

Innovation is primarily for large firms with a strong research focus

False

Two types of flows managed in supply chains: information flow and? Funds flow Personnel flow Transportation flow Goods flow

Goods flow

At which stage is there the MOST RAPID increase in profits? Introduction Growth Maturiy Decline

Growth

Ultimate objective of supply chains? Seamless information flows Managing SC institutions efficiently Efficient flow of materials and goods Happy customers

Happy customers

Wal-Mart uses an EDLP strategy. The other popular retail price strategy is? Skimming High-Low Market Penetration Value-based

High-Low

At which stage does the new product BEGIN making profits? Introduction Growth Maturity Decline

Introduction

Walmart is able to SUSTAIN its low prices primarily because of: Its power and strength in the industry Its efficient supply chain Lower quality merchandise Massive volumes sold

Its efficient supply chain

Why is a sustainable competitive advantage important? Helps you be the market leader Helps you steal away competitors' customers Key to long-term financial success Key to longevity in the marketplace

Key to long-term financial success

Which category of adopters would Facebook be likely targeting now? Innovators Early adopters Early majority Late majority Laggards

Late majority, Laggards

Efficient flow of goods is? Transportation management Retail management Logistics management The marketing channel

Logistics management

Where do marketers turn to bridge an Information Gap? The IT people External consultancies Top management Marketing research

Marketing research

Which model in marketing describes physiological and self-actualization needs? SWOT Elaboration Likelihood Model Maslow's theory BCG Matrix

Maslow's theory

Stage of PLC for the smartphone? Introduction Growth Maturity Decline

Maturity

Which statement is true about new products? Pioneers (first-movers) are always successful Most new products fail About one-third of all new products are successful There is a 50-50 chance of success for every new product

Most new products fail

Most offerings in marketing can be classified into services OR products Yes No Not sure

No

Tool to help visualize positioning? Hofstede's map Perceptual map CDSTEP BCG Matrix

Perceptual map

If customer demand CAUSES manufacturer to ship more merchandise, what type of SC? Push supply chain Pull supply chain Vendor-managed supply chain Horizontal supply chain

Pull supply chain

Which type of SC is more sensitive to customer demand? Push supply chains Pull supply chains Both

Pull supply chains

Expect prices at TJ's to be? A little high (as more value is provided) About the same as other grocery stores Quite a bit lower

Quite a bit lower

Dealing with a service failure? "Too bad. It's just one customer who expected too much" Explain politely why she is in the wrong Refer her to your boss Recover the customer Quickly offer a refund

Recover the customer

Massive central storage of data from retail POS terminals? Electronic Data Interchange Data VMI Quick data Response systems Retail data warehouse

Retail data warehouse

"Supply Chain" - which is NOT included? Logistics Flow of information Flow of materials and goods Revenue flows Institutions

Revenue flows

Trader Joe's distribution intensity? Exclusive Intensive Selective

Selective

China has a service sector that is? Larger than that of the US About the same as that of the US Smaller than that of the US Not enough information to determine

Smaller than that of the US

Which SQ dimension refers to physical "cues"? Tangibles Assurance Responsiveness Empathy

Tangibles

Which model deals with the "life stages" of a product? The Elaboraton Likelihood Model The PLC The DoI The Age Stage Concept

The PLC

A marketing INNOVATION can be something that is NOT a product.

True

Bait-and-switch? Tactics used in selling fishing gear Unethical pricing without the intention to sell at that price Selling below the store's cost Aggressive holiday pricing

Unethical pricing without the intention to sell at that price

Wal-Mart is highly "efficient" with its supply chain. Meaning? Has highest market share Better quality of merchandise Uses fewer resources Covers more territory

Uses fewer resources

Best approach from a marketing perspective? Cost-based methods Competitor-based methods Value-based methods

Value-based methods

CONSISTENCY of service is very difficult due to? Perishable Variable Inseparable production and consumption Intangible

Variable

When you hear "Everyday Low Pricing," what brand comes to mind? JC Penney Kmart Amazon Walmart

Walmart

According to DoI, which factor is primarily responsible for new product diffusion? Sales and discounts Advertising Word-of-mouth by consumers Personal selling by sales reps

Word-of-mouth by consumers