MKTG 201 Final

According to a recent CMO (Chief Marketing Officer) survey, the biggest applications for marketing analytics are: A. Customer acquisition B. Customer retention C. Competitor analysis D. A and B E. All of the above

D. A and B

In the consumer behavior process, problem recognition is caused by: A. A discrepancy between internal sources and external sources of information B. A discrepancy between information search and evaluation of criteria C. A discrepancy between post-purchase evaluation and consumption D. A discrepancy between a person's current state and desired state E. Using the multi-attribute attitude model

D. A discrepancy between a person's current state and desired

Research on marketing services identifies five determinants of service quality--reliability, assurance, tangibles, empathy, and responsiveness. Tangibles include: A. Delivering and performing the service dependably and accurately B. Competence, courtesy, and credibility C. Access, communication, and understanding D. Appearance of physical facilities and personnel E. Helping customers promptly

D. Appearance of physical facilities and personnel

Social media services created a new vocabulary such as cost-per-click (CPC), click-through-rate, and cost-per-action (CPA). Because ads must generate enough interest to get a click and clicks must generate an action leading to a sale, the critical number is: A. CPM--cost per thousand impressions B. CPC--cost per click C. CPGW--cost per gross weight D. CPA--cost per action E. CPCC--cost per cohort connection

D. CPA--cost per action

Research suggests that satisfied frontline employees lead to satisfied customers. Nurses represent the frontline in health care. The working situation for nurses may affect job satisfaction. Indeed, a recent study of medicare reimbursements found much higher job dissatisfaction and burnout among nurses who were: A. Older than 45 years old B. Working in the public sector C. Assigned to K-12 schools D. Caring for patients in hospitals and nursing homes E. Working in rural areas

D. Caring for patients in hospitals and nursing homes

In order for a sales team to achieve the full potential, modern day sales organizations assign specialized roles to increase efficiency and production of their sales teams. For example, ________________________ are farmers, with the sole responsibility of increasing customer loyalty and retention through additional services so that customers continue to use and expand a firm's product and service offerings. A. Market Response Reps B. Sales Development Reps (SDRs) C. Account Executives (AEs) D. Customer Success or Client Development Reps E.Sales Managers

D. Customer Success or Client Development Reps

When Procter & Gamble first entered eastern Europe in the early 1990s, the company made significant changes to product packaging and pricing to fit local needs. This is an example of: A. Standardization B. Commoditization C. Realization D. Customization E. Humanizing

D. Customization

When choosing channel members, Giorgio Armani, an Italian company that offers an exclusive brand of tailored clothing, selects only high-end retailers like Harrods, Neiman Marcus, and Saks Fifth Avenue. Giorgio Armani does this to enhance: A. Product benefits B. Service benefits C. Non-price costs D. Image benefits

D. Image benefits

The overall attractiveness of a foreign market depends on the risks and rewards of conducting business in the country of interest. Inadequate protection of intellectual property (IP) in a number of developing countries has caused some U.S. companies to avoid certain foreign markets because of the ____________ risk. A. Competitive B. Economic C. Political D. Legal E. International

D. Legal

Considering a product's competitive angle, _______________ is about finding significant pain points that are personally relevant to the target market while _______________ is about demonstrating product-solving benefits. A. Quantifiable Support, Unique Product Claim B. Reason to Believe, Dominate Situations C. Dominate Situations, Quantifiable Support D. Need to Believe, Reason to Believe E. Unique Product Claim, Need to Believe

D. Need to Believe, Reason to Believe

Pfizer, a multinational pharmaceutical company, deploys sales representatives to encourage physicians to prescribe Pfizer products, such as Prevnar, LYRICA, LIPITOR, and Xeljanz, to their patients. This is an example of: A. Preventive strategy B. Pull strategy C. Physical strategy D. Push strategy E. Progressive strategy

D. Push strategy

Some entrepreneurs are so focused on building a better product that they do not spend enough effort on: A. Collecting competitive intelligence B. Making proper investments to enhance product features C. Listening to critics D. Selling E. Outsourcing activities

D. Selling

For every pair of Toms shoes purchased, the company donates a pair of shoes to a child in need. Which marketing philosophy does Toms use? A. Production B. Sales C. Market D. Societal E. Consumer

D. Societal

Advertising seeks to achieve one or more objectives--cognitive, affective, and behavioral. The behavioral objective: A. Builds awareness B. Gains interest C. Gains liking D. Stimulates action E. Both B and C are correct

D. Stimulates action

Landyachtz recently launched a new Slide Glove for longboarders--Ly Leather Slide Gloves. The local market segment consists of a few longboarders in Provo Canyon. Retailers in the Utah market are worried that the segment size is not large enough to make this product profitable. Which characteristic of effective segmentation is lacking? A. Accessible B. Durable C. Measureable D. Substantial E. Unique need

D. Substantial

Frito-Lay produces more than 20 varieties of chips. Suppose a retail store offers to stock five of Frito-Lay chips products in each store across the country. Which marketing research technique would you recommend Frito-Lay use to determine the optimal variety of chips to stock in each store? A. Cross tabs B. Analysis of variance C. Regression analysis D. TURF analysis E. Conjoint analysis

D. TURF analysis

Perceptual maps show the judgments customers make regarding the performance of a brand's features and benefits. Gap analysis extends the perceptual maps method by asking customers to make judgments regarding: A. Cultural differences among consumers B. The performance of competitive brands C. Psychological differences among consumers D. The importance of a brand's features and benefits to the buying decision E. The performance of external forces in the environment

D. The importance of a brand's features and benefits to the buying decision

Today's salespeople face highly informed customers and unprecedented pressure to sell more and sell faster. To boost performance, sales organizations rely on technology and sales tools. Combined, these technologies and sales productivity tools are called: A. Firm resources B. Productivity enhancers C. Automatic enhancers D. The sales technology stack E. Tech boosters

D. The sales technology stack

Marketing employs some of the most sophisticated analytical methods used in business. Suppose your client provides you a data set of survey responses from credit card users and asks you to identify market segments based on the data. Which analytical method is most useful for this research project--classifying credit card users into various segments based on how they respond to demographic and behavioral questions? A. Cluster analysis B. Conjoint analysis C. Factor analysis D. MaxDiff analysis E. TURF analysis

A. Cluster analysis

The Conversion Funnel is a Google Analytics tool that enables marketers to track consumers as they proceed from consumer contact to consumer purchase. Marketers can use this information to minimize drop off points and improve: A. Conversion rates B. Global awareness C. Market segmentation D. Price sensitivity E. Channels of distribution

A. Conversion Rates

The process of cleaning, unifying, and preparing unorganized and scattered data sets for easy access and analysis is known as: A. Data wrangling B. Data exploration C. Data modeling D. Deployment and socialization E. Digital dominance

A. Data Wrangling

Johan, a research analyst for LEGO, has been gathering information about age, gender, and income for Southeast Asia, particularly Indonesia, Thailand, Singapore, Malaysia and Philippines. Johan is gathering _________ data: A. Demographic B. Psychographic C. Generational cohort D. Economic E. Political preference

A. Demographic

The global marketing strategy based on a standard platform combined with some modification for the market is called: A. Glocal B. Global C. International D. Multinational E. Multi-cultural

A. Glocal

Internal marketing activities, between the company and its employees, are important because: A. How employees feel about the company, products, and services correlates highly with employee engagement and service quality. B. Moments of truth create promises for results. C. The physical environment provide evidence of service quality. D. Services are inseparable and variable. E. Reliability creates assurance.

A. How employees feel about the company, products, and services correlates highly with employee engagement and service quality.

Products travel through life cycles starting with introduction stage and finishing with maturity stage. In which stage of the product life cycle do marketing managers seek to build product awareness and consumer experience? A. Introduction B. Growth C. Maturity D. Decline E. Obsolete

A. Introduction

While grocery shopping, you remember that you are almost out of toothpaste. So, out of habit, you promptly put a tube of your favorite brand of toothpaste in your shopping cart. For you, toothpaste purchases represent what kind of buying decision? A. Low involvement B. High involvement C. Medium involvement D. General involvement E. Confirmatory involvement

A. Low Involvement

When the Harry Potter books were first released, many bookstores across the globe held midnight release parties. Fans of the series gathered together in costumes to celebrate the new books? Which launching technique did Harry Potter books use? A. Marketing events B. Closing the sale C. Sticky branding D. Jingles E. Catch phrase

A. Marketing events

Suppose you are a sales manager for Intel. One of your salespeople is struggling with the presentation step of the sales process. As you coach this salesperson, you begin by explaining that the purpose of the "presentation" step of the sales process is to: A. Match the benefits of your product offering to the customer's needs. B. Qualify the buyer. C. Gather data on the customer. D. Create entertaining PowerPoint slides to engage the customer. E. Close the sale.

A. Match the benefits of your product offering to the customer's needs.

In the produce department, Smith's and Harmon's grocery stores break bulk (offering quantities customers want) and provide assortments or varieties of produce to their customers. In this example, Smith's and Harmon's add value by increasing ______________ benefits. A. Product B. Service C. Image D. Possession E. Time

A. Product

Marketing strategy addresses a specific target market with a cohesive marketing mix of: A. Product, price, place, promotion B. Product, price, promotion, profit C. Positioning, performance, potential, profitability D. Price, place, people, promotion E. Place, potential, product, performance

A. Product, price, place, promotion

Often the reason research results are invalid is because the data sample is irrelevant--coverage error. To minimize coverage error, researchers should: A. Qualify or screen respondents for the study to hit the target population B. Conduct focus group interviews C. User personal interviews D. Open the research to the general population E. Increase the sample size by using Web and email questionnaires

A. Qualify or screen respondents for the study to hit the target population

While on a trip to London, Rylie saw Emma Watson buying a jacket from H&M. As soon as she had the chance, Rylie purchased the same style jacket from H&M. Which factor influenced Rylie's buying behavior? A. Social B. Cultural C. Psychological D. Individual E. Collective

A. Social

Jetlev water-propelled jetpack shoots out twin streams of water that will keep a person airborne (over 30 feet in the air) and move a person across the water's surface at 22 mph. The entrepreneurs who developed this new product found the idea by: A. Stretching or entertaining an idea to the extreme. Solving everyday pain B. Riding a wave of interest C. Solving everyday pain D. Hunting for cool ideas in foreign markets E. Building on a core product

A. Stretching or entertaining an idea to the extreme. Solving everyday pain

The marketing concept suggests that companies should satisfy consumer needs and wants at a profit. The enlightened marketing concept expands the original marketing concept by suggesting that companies should also: A. Strive to meet the needs of society. B. Consider generational cohorts to minimize bias. C. Standardize products even when consumer preferences vary across country borders. D. Eliminate unplanned product obsolescence. E. Focus on SWOT analysis and discontinue the BCG portfolio analysis.

A. Strive to me et the needs of society.

Net Promoter Score (NPS) enables businesses to measure progress of their brand. NPS is the difference between: A. The percentage of brand promoters and the percentage of brand detractors B. National brands and store brands C. Competitor brands and company brands D. The percentage of swing group members and the percentage of swing group non-members E. Introduction stage and growth stage in the product life cycle

A. The percentage of brand promoters and the percentage of brand detractors

Product positioning is: A. The place a product occupies in the target customers' minds B. Shelf size and location in major retail chains--grocery and department stores C. Geographic segmentation, often within major metropolitan and suburban areas D. A careful analysis of cross tabulations E. What marketers do to a product

A. The place a product occupies in the target customers' minds

Why doesn't "me too" positioning work as a value positioning strategy? A. The positioning approach does not give consumers a reason to change B. Competitors are just too difficult to copy C. Competitors may have lower cost structures D. Imitation is the sincerest form of flattery E. Customers want consistency among competitors

A. The positioning approach does not give consumers a reason to change

The path to profitability starts with: A. Understanding customers within the context of the marketing environment B. Executing clever advertising campaigns using digital media C. Reducing price for disadvantaged customers D. Developing distribution channels to reach a variety of customers E. Benchmarking and then copying successful competitors

A. Understanding customers within the context of the marketing environment

Unit contribution is: A. Unit price minus unit variable cost B. Unit price divided by total contribution C. Contribution multiplied by the total number of units sold. D. Fixed cost divided by price minus unit variable cost E. The break-even volume for a specific product item

A. Unit price minus unit variable cost

Achara is a marketing manager for a new line of Thai food. The company wants to launch this new line in Scandinavia--Denmark, Norway, Sweden, Finland, and Iceland. Achara knows that social forces affect consumers' attitudes, beliefs, lifestyle, and ultimately consumption behavior. Which social force has the most influence on Achara's new product line--affecting what people eat? A. Demographic B. Culture C. Generational cohorts D. Regulatory E. Economic

B. Cultural

Reference price is an important concept in pricing strategy. ______________ is what you think you should pay, given your past experience and the buying situation, and _______________ is what what everyone else is paying for the product. A. External reference price; internal reference price B. Internal reference price; external reference price C. Referral reference price; accepted reference price D. High reference price; low reference price E. Personal reference price; relevant range reference price

B. Internal reference price; external reference price

Novell, a software and services company, found global success by entering legal agreements with firms in other countries, providing them with the right to sell Novell products under the Novell name. In this case, Novell used the market entry strategy _________ to enter foreign markets. A. Exporting B. Licensing C. Joint Venture D. Foreign Direct Investment E. Diadic

B. Licensing

Extensive, data-driven research demonstrates that the primary determinants of B2B salesperson performance are: A. Appearance, appreciation, promotion, product B. Motivation, skill, aptitude, role perceptions C. Assertiveness, charisma, charm, company D. Quotas, competition, compensation, budets E. All of the above

B. Motivation, skill, aptitude, role perceptions

The marketing mix for services includes the 4P's of marketing (product, price, place, and promotion), plus: A. Processes, physical environments, and potential customers B. People, process, and physical environment C. Political environment, physical environment, and personal environment D. People, perishability, and personality E. People, politics, and psychology

B. People, process, and physical environment

Which pricing strategy is used when marketers set a relatively low price to obtain market share quickly at the expense of not capturing consumer surplus? A. Price skimming B. Price penetration C. Promotional pricing D. Cost-plus pricing E. Competitive pricing

B. Price penetration

Honda is a Japanese public multinational conglomerate corporation primarily known as a manufacturer of automobiles, aircraft, motorcycles, scooters, generators, water pumps, lawn and garden equipment, rotary tillers, outboard motors, robotics, and small engines. Closely related products that compete in the same general product category (e.g., automobiles and trucks)--Accord, Civic, Crosstour, CR-V, CR-Z, FCX Clarity, Fit, Insight, Odyssey, Pilot, and Ridgeline--represent a: A. Product item B. Product line C. Product mix D. Product life cycle E. Production promotion

B. Product line

Marketing creates, communicates, and delivers value to the firm's chosen customers. This enables the firm to attract and keep customers. Attracting and keeping customers drive _____________ for the firm. A. Priced B. Profitability C. Promotion D. Product E. Place

B. Profitability

Advertising effectiveness is measured by: A. The amount of humor and the level of entertainment B. Recall (remember the ad and the advertiser) and persuasion (remember the benefit) C. Media buying--CPM, GRP, TRP D. Brand legacy E. Push versus pull promotions

B. Recall (remember the ad and the advertiser) and persuasion (remember the benefit)

Home Depot is planning a TV advertising campaign to target do-it-yourselfers who do maintenance projects on their house, condo, or other dwelling units they own. To find such information, the Home Depot marketing research team begins by using data from the US Census Bureau. This is an example of: A. Primary data B. Secondary data C. Observational data D. Convenience data E. Dichotomous data

B. Secondary data

Because DuPont marketing managers positioned STAINMASTER as a premium carpet, they selected a distribution type that would make price premiums possible, encourage the use of marketing support tools such as carpet-comparisons and in-store kiosks, and provide adequate national coverage through a limited number of qualified retailers in each geographic area. This distribution type is: A. Intensive distribution B. Selective distribution C. Exclusive distribution D. Competitive distribution E. Dual distribution

B. Selective distribution

"How do I come up with a killer product idea?" A. Ask customers what they want B. Ask, "How much money can I make?" C. Ask, "What problems are people trying to solve." D. Ask, "What are the competitive offerings?" E. Ask, "Which distribution channels offer the most cost effective solution?"

C. Ask, 'What problems are people trying to solve."

A popular cookware store hosts a cookie contest every November featuring their popular mixer. Targeted customers (home bakers and cookie lovers) share recipes and cooking tips. The popular mixer takes center stage in a beautiful, up-to-date kitchen. Prizes are awarded and all customers receive a sample Christmas cookie. This marketing event does all of the following EXCEPT: A. Making sure the product takes center stage B. Making it gorgeous--event quality reflects product quality C. Connecting the event to a local cause D. Sending home gifts to brand the experience E. Targeting the event to fit a specific audience

C. Connecting the event to a local cause

To establish successful long-term brands and businesses, marketing managers must abide by ethical and socially responsible standards. This is particularly important in the current marketing environment because today's consumers: A. Are forced to filter through mountains of information B. Reject big business C. Demand transparency and honesty D. What a diversified portfolio E. Face pressure from multiple competitors

C. Demand transparency and honesty

Malibu Boats, specialize in the production and marketing of recreational water sports boats, primarily for wake boarding and wake surfing. What type of income is used to purchase expensive boats and accessories offered by Malibu Boats? A. Gross income B. Disposable income C. Discretionary income D. Total income E. Benchmarking income

C. Discretionary

Entrepreneurs face a David and Goliath competitive landscape. To have a fighting chance, entrepreneurs should: A. Copy the market leader's strategy B. Copy a market follower for a safe position C. Embrace constraints and find a unique way to compete D. Find more resources to compete with the market leader E. Match the strategy of the closest competitor

C. Embrace constraints and find a unique way to compete

In the United States, people born during the same time period and who share similar life experiences are referred to as: A. Geographics B. Psychographics C. Generational cohorts D. Economics E. Culture

C. Generational Cohorts

Cereal Partners Worldwide (CPW) was established in 1991 by General Mills (USA) and Nestle (Switzerland) to produce and market ready-to-eat breakfast cereals worldwide. The companies share ownership, control, and risk. This is an example of which global market entry strategy? A. Exporting B. Licensing C. Joint Venture D. Foreign Direct Investment E. International

C. Joint Venture

Skullcandy, a $300 million headphones and audio accessories business located in Park City, Utah, recognized a growing trend in the purchase and use of digital audio devices--MP3 players. The company created a unique line of headphones, earbuds, and docks to capitalize on this growing business. This is an example of which part of the SWOT analysis? A. Strength B. Weakness C. Opportunity D. Threat E. Option

C. Opportunity

Emma is under a lot of stress at home. She needs money to pay off several credit cards. Because of her position in the company, she has access to the company's banking accounts. According to the fraud triangle, which aspect is missing from this potentially unethical situation? A. Pressure B. Dishonesty C. Rationalization D. Opportunity E. Money

C. Rationalization

A number of studies by marketing research companies, like Yankelovich and Media Dynamics, suggest that consumers are exposed to 2,500 got 5,000 advertising messages (stimuli) a day, yet they notice only 12-20. This is an example of: A. Selective retention B. Selective distortion C. Selective attention D. Subliminal advertising E. Standardized advertising

C. Selective Attention

Kendall's manager at Jane.com asked her to identify data that relate to human behavior in order to identify consumer insights. What is a consumer insight? A. The process of understanding how consumers view past marketing campaigns B. The ability to obtain inside trading information from the consumer C. The capacity to gain an accurate, deep, and intuitive understanding of a consumer D. The means by which consumers seek unsought goods and services E. The method of grouping consumers into relatively homogeneous subgroups.

C. The capacity to gain an accurate, deep, and intuitive understanding of a consumer

The most critical stage of the new product development process is the concept testing stage because: A. Type I and Type II errors can be estimated B. Profit projections, including sales forecasts and costs, are estimated C. This is the first time the idea is tested with potential customers D. Product development begins in earnest E. All elements of the marketing mix are tested

C. This is the first time the idea is tested with potential customers

Alaska Airlines faces the service challenge of perishability because the company cannot save seats from the 8:00 am flight to Seattle for the 2:45 pm flight to San Francisco. What can Alaska Airlines do to address this service challenge? A. Diversify into other forms of transportation B. Change the physical environment of the aircraft to provide tangible cues C. Use pricing to manage fluctuating demand or match supply with changing demand D. Hire more employees to handle problems quickly E. Provide more training for frontline employees

C. Use pricing to manage fluctuating demand or match supply with changing demand

One of the first American companies to leverage the power of the Love Fest is Harley Davidson (H.O.G. - Harley Davidson Owners Group). A Love Fest enables Harley Davidson to: A. Create opportunities for best customers to "share the love" they have for the product. B. Connect with people who like festive events. C. Let their customers sell for them. D. A and B E. A and C F. B and C G. All of the above

E. A and C

Break-even analysis provides a useful method for examining the relationship between price, cost, revenue, and profit at various levels of sales. At the break-even point: A. Total revenue equals total cost. B. There are no profits. C. There are no losses. D. A and B E. All of the above

E. All of the above

Marketing managers use elements of the promotion mix to communicate value to consumers by: A. Informing them about the benefits of the product B. Persuading them to try or continue using the product C. Reminding them of the product benefits D. A and B above E. All of the above

E. All of the above

Social media marketing may be more effective than traditional marketing communications channels because social media: A. Offers greater flexibility of content and duration B. Has credibility similar to word-of-mouth C. Can build awareness and interest at a much lower cost D. Both A and B E. All of the above

E. All of the above

The American Marketing Association, Marketing's governing body, publishes a statement of ethics stressing ethical norms. These ethical norms include: A. Do no harm B. Foster trust in the Marketing system C. Embrace ethical values D. A and B above E. All of the above

E. All of the above

The ultimate goal of marketing research is to help managers make good marketing decisions. Good decisions require: A. Good data for which an organization must rely on correctly-worded and properly-ordered questions B. Representative sample C. Appropriate data-analysis model D. A and B above E. All of the above

E. All of the above

H&M consciously designs retail space to orchestrate various dimension of the store—layout, color, sounds, and signage—to appeal to consumers' emotions and encourage buying. This is called: A. Sales promotions B. Wheel of retailing C. Location D. Retail control E. Atmospherics

E. Atmospherics

The possible price range for a product is: A. Above the seller's cost of goods sold B. Below the buyer's perceived value C. Below the seller's cost of goods sold D. Above the buyer's perceived value E. Both A and B are correct F. Both C and D are correct G. All of the above are correct

E. Both A and B are correct

A marketing insight is a deep understanding of consumer attitudes and beliefs that has power to shape consumer behavior. Marketing insights have limitations because: A. People seek high involvement products using routine problem solving B. People make decisions based on the situation C. People are not all the same D. Both A and B are correct E. Both B and C are correct

E. Both B and C are correct

Because startup businesses lack established relationships in the market, a sharp and well-respected image in consumers' minds, a successful track record, and ample financial resources, they must let a new business idea bubble up from a customer or employee feedback, address it with a differentiating tactic, and then build a business strategy around the tactic. This is called a: A. Top-down mindset B. Cross over strategy C. Mature phase of the product life cycle D. Skimming strategy E. Bottom-up mindset

E. Bottom-up mindset

Everyone uses hangers. They have been around for more than 100 years. Joy Mangano thought about how many hangers people use and asked how she could make one better. Her solution is Huggable Hangers, a no-slip, color-coded, space-saving, velvet-flocked hangar. Joy found this idea by: A. Stretching or entertaining an idea to the extreme B. Cool hunting in foreign markets C. Solving everyday pain D. Riding a wave of interest E. Building on a core product

E. Building on a core product

A sketch or composite picture of the ideal customer who buys or may buy the firm's products is known as a(n) A. Decision maker B. Influencer C. Gatekeeper D. Personal shopper E. Buyer persona

E. Buyer persona

You and your friends decide to take a vacation to San Juan Island, Washington. You use the website Vacations4less.com to rent a four-bedroom house in Friday Harbor. Your vacation experience is terrible. The house is dirty and in need of repair. You complain to the local property manager, but she says there is nothing she can do. You return home and write a negative review on Trip Advisor, a travel-rating website. This is an example of: A. Buyer beware B. Firm power C. Threat of entrants D. Bargaining power of suppliers E. Consumer power

E. Consumer Power

Expectancy model of motivation includes expectancies, instrumentalities, and valence. The instrumentality part of the model answers the question: A. How many competitors in the category? B. How will my effort affect my performance? C. How much do I value the reward? D. How much money can I expect to make? E. How will my performance be rewarded?

E. How will my performance be rewarded?

Measuring the WOW Factor is a useful approach for testing new ideas. The Six Thinking Hats framework provides a useful process for drilling down on the WOW Factor. In this framework, the Green Hat represents: A. Facts about the new idea B. Emotional, gut reaction to the new idea C. Perceived benefits or positive support for the new idea D. Perceived shortcomings or concerns with the new idea E. Ideas for improving the new idea F. A summary of the process and lessons learned

E. Ideas for improving the new idea

Which sales promotion method is best for products that are consumed faster when greater quantities are available? A. Value-added promotions B. Interactive promotions C. Trade promotions D. Coupons E. Price promotions

E. Price promotions

Channel members (intermediaries) make the selling of products more efficient by: A. Maximizing the number of contacts necessary between producers and consumers B. Eliminating inventory costs C. Reducing manufacturing costs D. Identifying target markets E. Reducing the number of contacts between producers and consumers

E. Reducing the number of contacts between producers and consumers

What is the key driver in engaging and converting potential customers using social media? A. Multiple media B. Short, precise messages C. Google AdWords D. Product blogs E. Relevant content

E. Relevant content

Market segmentation is the process of grouping customers into relatively homogeneous sets or segments such that customers within a segment are similar to one another in: A. Age and psychographics B. Family and cultural situations C. Their frequency of purchase D. Geographic location E. The way they respond to the marketing effort directed toward them

E. The way they respond to the marketing effort directed toward them

Big data generally are divided into two types—structured and unstructured. Which of the following is Not an example of unstructured data? A. Written reviews--free form B. Text messages C. Surveillance video D. YouTube video E. Yes/No questions

E. Yes/No questions

Each social network platform has unique strengths. Which platform is best for product demonstrations and tutorials? A. LinkedIn B. Facebook C. Pinterest D. YouTube E. Pandora

E. YouTube

Marketing channels make or break new products. Many startup marketers must place new products in the hands of distributors and retailers. The key for startup marketers is to place the product where people are: A. Ready to buy B. Able to pay C. Know that good alternatives are out of reach D. A and B above E. A and C above F. B and C above G. All of the above

G. All of the above