Module 5 - marketing

When Mercedes-Benz entered the Chinese market it choose the brand name "Bensi," which means "rush to die." What step did Mercedes-Benz forget to take in choosing a brand name? Multiple Choice Question 1) customer 2) screen 3) reserve

2 screen

Tony, a community college student, is working on his marketing paper. As he researches different types of branding on the internet, he gets distracted by a link to Ellen DeGeneres' latest funny video. Tony clicks on it and spends time watching Ellen's latest antics and laughing instead of working on his paper. Tony just experienced the pull of which type of brand? 1) event promotion 2) individual product brand 3) personality brand

3

T.J.Maxx is a store offering customers a place to shop for designer clothing and goods far below original prices. Which type of retail store is T.J. Maxx? Multiple Choice Question

discount retailer

Sam's Club and Walmart use a system of warehouses to store and move merchandise around the country. These warehouses are known as ________. Multiple Choice Question

distribution centers

Deserae works as a channel manager for an auto auction company. She finds, evaluates, and engages suppliers to provide cars to the business. Which term is used to describe what Deserae does?

sourcing

Alexis is a new marketer for the Orange Design Industries company. She is tasked with setting up a channel management structure for the automotive service at the company. Alexis has established who the customers are and is now establishing the channel's objectives. What should she base the channel objectives on?

Try: Marketing strategy, company strategy and objectives, customer requirements NOT marketing mix tools, customer demographics, company history

Fearson, Inc., a publisher of textbooks, has an agreement with many college bookstores to stock Fearson textbooks. Fearson ships its textbooks to a warehouser, United Warehouses, who then ships the books to various college bookstores. The bookstores make the textbooks available to students to purchase. Fearson also provides the college bookstores with materials, prices, and payment mechanisms. This is example of which type of business transaction?

channel of distribution

A stadium light production company moves its lights through multiple distribution partners. It sells mostly through brokers and directly to sports stadiums around the country. Which of the following is the common name for the organizations that support the distribution channel?

channel partners

Teressa is working with an existing distribution for industrial materials. She discovers that in order for the channel to work effectively she needs to understand which behavioral characteristics of the people working in the channel?

communication, conflict, roles, and power.

A household appliances manufacturer needs a new parts supplier for its washers and dryers. The manufacturer advertises for competitive bids, and four potential suppliers submit their proposals. The manufacturer walks through each of the proposals and discovers two potential suppliers who offers substantial discounts while a third supplier offers less of a discount but better support services. After considering all the proposals, the appliances manufacturer decides on a supplier and begins negotiating the terms of its contract with the supplier. This entire procurement process is known as a ________.

competitive bid process

A retailer such as Dillard's, Macy's, or Sears sells products that it doesn't produce. The retailer employs sales associates who receive varying levels of sales compensation. This type of scenario highlights third-party sales. Third-party sales are ________.

conducted by anyone other than the producer of a product or service.

A cell phone company introduced its brand-new 5G phone into the market. The phone featured global network capability, the fastest processor on the market, and the clearest connection quality. The phone also came with preloaded customized apps. The company chose to use skim pricing at the rollout and charged top dollar for its first customer. Because of its pricing choice, what could be predicted about the customer demand for the phone?

demand decreases

A startup company Wiivv makes custom, 3D-printed insoles for shoes. Wiivv decided to price its product using the penetration strategy. Instead of charging $175 like other custom insoles, it started offering its product at $60. Within one month, over 2,700 people purchased Wiivv's product and told their friends about it. Stock was flying out the door, which made Wiivv's distribution channel partners happy. What advantage did Wiivv tap into by selecting the penetration pricing strategy?

it generated demand from word of mouth by the goodwill created among innovators and early adopters.

Barnes & Noble begins to offer evening lectures from local authors and book signings from visiting international authors. What is the best summary of Barnes & Noble's actions?

they are expanding its offering to create greater contact efficiency for its customers

Dudley is a manager at the SuperCuts franchise. He has had to fire two employees because they were treating walk-in customers with disdain and thus turning away business. Once those employees were gone, he trained new employees on how to greet customers. Business has been improving and he has realized how important personnel are for a retail business. What role do the personnel play at his SuperCuts franchise?

they are the interface between the brand and the shopper

Kroger, a grocery store chain, sells thousands of products from hundreds of different producers that are shipped through a variety of shipping companies and stored at various warehouses facilities. The coordinated efforts with each channel partner at each touch point takes efficiency and communication. In order for the process to run smoothly, which three functions do channel partners need to perform to efficiently flow products and titles to the consumer to get payments back to producers?

try: transactional, logistical, and facilitating functions NOT logistical, commercial, and transactional functions

A marketer for a paint company is trying to make third-party sales incentives work more effectively for Home Depot and Ace Hardware stores. Which approach should the marketer address to increase the third-party sales efficiency for Home Depot and Ace Hardware?

understand and align sales incentives

------A marketer is trying to address the service outputs for a target customer by discovering the customer's needs and preferences. What is some channel service outputs the marketer should address in his or her channel management?

*1) pricing, product features, and country of origin *2) spatial conveniences, assortment, and variety *3) timing of availability, quantity, service, and information.

A bluetooth speaker company is creating a plan to measure the multidimensional brand loyalty of its customers. What should be the priority for identifying its customers' psychological processes? 1 perceived value 2) commitment 3) repeated-purchase

1

In an advertisement for Wegmans Food Markets, they printed a quote : "Caring, High Standards, Making a Difference, Respect, and Empowerment." This quote reflects Wegmans': 1) core values 2) tagline 3) personality and voice

1

Denny's restaurant needs to assess its brand strength in the marketplace. Select all choices Denny's should include in its assessment. 1) actual brand quality, the quality of denny's products and services 2) Market share and price premium 3) familiarity of customers with danny's

1 & 3

Heinz soup increases its prices by $0.50. The original price was $1.50 and is now $2.00. The sales volume immediately drops from 1000 cans to 500 cans in one week. This is a 50% change in demand from a 33% price increase. Which is the correct answer to express the customer's price sensitivity?

1.52 > 1 customer price sensitivity is elastic

Disney positions its brand as "a magical world where your dreams come true." In its brand positioning, what goal does Disney achieve? 1) specifically 2) highlights 3) creates

2

A business consulting firm defined its company personality as knowledgeable team-players, who are practical and theoretical. It then began brainstorming many new brand names ideas to sort through later once they have completed all of the steps to develop a brand new name. Which step did the firm forget to take before moving on to screening out problematic names? 1) it didnt check the available domain names 2) it didnt customer-test some of the names 3) it didnt' check the competitive landsacape.

3

Gabi is visiting a new city for work and wants to get breakfast before she walks to the office. Since she is unfamiliar with the local eating establishments, she looks for a restaurant she recognizes and that she can count on for a quick meal and good coffee. Right down the street from her hotel is a Starbucks. It is Gabi's favorite place to grab a coffee and quick meal, so she walks into the store. What does Gabi's experience with Starbucks illustrate about a brand creating value for a customer? 1) Reminding Gabi of an unpleasant experience at Starbucks 2) influencing Gabi to discover other local coffee shops 3) decreasing the loss of Gabi's sale to a Starbucks competitor because of its established competitive advantage in her mind.

3

The U 'n' Me scrapbook sticker company has the chance to bid to be the main sticker supplier for a national scrapbook store chain. In its proposal, U 'n' Me decided that in order to beat out its competition, it would compete by lowering its price significantly expecting to make up the difference in sales volume. Which classic competitive pricing situation could U 'n' Me find itself in by following this pricing strategy?

A lower price can jeopardize a company's ability to deliver it services or products without cutting into its profits.

Blue Avocado makes reusable lunch and food bags and sells its products through three local grocery stores, one home organization retail chain, and two additional stores that cater to elementary schools and online clientele. By having its products available in a variety of places, Blue Avocado is relying on which primary purpose of its distribution channels?

Bridging the gap between a product's producer and a product's user

A harmonica company works with its suppliers to give them better visibility into the company's demand planning for its new harmonica. Why would this visibility be important to the suppliers and the harmonica company?

It's significant because suppliers can adjust their supply of products depending on the market demand.

A large auto auction company has personnel that specializes in sourcing. Once car suppliers are found and evaluated, another group of employees purchases the cars to sell at the auction. Which of the following is known as a component of a supply chain during the purchasing process?

NOT sourcing procurement?

A company makes travel umbrellas. Its fixed costs are $1000 a week and its variable costs for one batch of umbrellas per week is $500 for 2000 units. After doing market research, the company sets the price per umbrella at $11. What is the break-even quantity for a week's worth of umbrellas?

NOT: 103 Prob: 73

A virtual reality software company researched its various customers and picked value-based pricing for its various products. In order for the company to positively position its value in customer's minds, what additional actions should the company take?

NOT: employ a general market approach to pricing that considers what the market as a whole sees as valuable in a product or service.

A cloud storage company offers an enterprise package of $1,000 a month of unlimited cloud storage and a professional package of $200 a month for 750 gigabytes of storage. Most customers don't need the unlimited storage and end up purchasing the professional package. The customers sign up feeling like they just saved $800. Which type of psychological pricing is the cloud storage company using?

NOT: inviting price comparisons prob: anchoring and providing pricing options

Mary ordered a new pair of headphones from Amazon.com for her birthday. The shipment took a week to arrive, but Mary could track it through each stage of the supply chain. Mary was able to track the shipment through which type of technology?

Radio-frequency identification (RFID) technology

Jackie enjoys garage sales and the bargaining process. She finds an old record player and some records for $25 at one garage sale. In negotiating with the owner, she was able to pay $12 for the entire bundle. Which desire as a customer did this experience fulfill for Jackie?

The customer experience of finding a price that is as little as possible for the bundle.

If a retail store like Guitar Center allows the consumer to buy products and services efficiently with a smaller number of transactions, then that store is creating ________.

a master retail plan for customers

A door hardware company's marketing and supply chain teams have developed a good rapport between them. As information flows easily back and forth between the teams, additional ways are discovered to optimize the distribution process. A new member joins the distribution team and asks how a supply chain differs from a marketing channel. Which of the following is the best answer to her question?

a supply chain is broader than marketing channels

Keith enjoys cutting hair and he just graduated from a cosmetology program. He has opened up his own shop, but it has not grown very much in its first year. Keith decides maybe it's better to try a brand recognition of a national chain, but he wants to stay in his local area and be the owner of the shop. Which type of retail model would fit Keith's business goal best?

franchises

Nicolas is the channel manager for a scientific equipment manufacturer, Biocompare. He communicates the various shipment sizes and dates with the transportation company that moves the equipment to and from the Biocompare's warehouse. For example, a neuroscience lab has placed an order of 100 rodent treadmills, and next month a large shipment of rodent treadmills will be ready for warehousing. The communication of dates, orders, timing, expectations, and coordination of schedules is passed up and down the channel through individuals. This is an example of which type of flow in a distribution channel?

information flow

The Low-Price auto insurance company offers a bottom-dollar deal that meets minimum car insurance policy requirements. It creates a marketing message that gives customers information on how expensive other insurances are in comparison. It invites consumers to shop around and compare prices. Low-Price focuses solely on price point and mentions very little about what is covered for that policy. Which type of psychological pricing communication does Low-Price use?

inviting price comparisons

Greg is studying to be a marketer specifically for retail stores. He has studied marketing's four Ps and was surprised to discover that in retail there are two additional Ps used to deliver the best retail experience to consumers. Which of the following are those two additional marketing P's?

presentation and personnel

A company that manufactures and sells kitchen scrubbing sponges has significantly lower cost structures than its competition. The company sells in large volumes and has realized economies of scale in its productions of the scrubbing sponges. Besides the lower production costs, the company has little debt and sells most of its products to larger cleaning companies. Because of the company's situation, which competitive pricing approach should the company take to increase its sales volume?

pricing below competitors