exam 1- Marketing strategy for the firm
The approach to understanding customer value described in Chapter 5 of the Cadotte and Bruce text book suggests: A. Attributes are the means by which customers achieve desired end states B. Focusing R&D to maximize the precision of a particular feature that is valued by consumers will increase the value of the product C. Customer value is an economic consideration assessing the variance between the price paid for an item and the cost to manufacture the item D. Consumers are unable to communicate what they want in the future because they do not have an understanding of what technological advances will be available for incorporation into product design.
A. Attributes are the means by which customers achieve desired end states
What is the order of the levels for the customer value hierarchy? A. Attributes, consequences, desired end states B. Desired end states, consequences, attributes C. Consequences, attributes, desired end states D. attributes, desired end states, consequences
A. Attributes, consequences, desired end states
You are conducting a context analysis for Apple opening up a new store in Africa. All of the following should be part of the analysis EXCEPT: A. Customer characteristics B. Beer-drinking habits in Nigeria C. The adequacy of the infrastructure D. Political unrest
A. Customer characteristics
Advertising that uses evocative imagery, symbols, and situations that tap into feelings may be more effective when decision making is driven by________________. A. Emotions B. Comparisons to the competition C. Performance D. Price
A. Emotions
California closets is a maker of closet organizers and custom storage solutions. Its products are designed for people who live in small spaces. Assuming the company plans to segment its market based on a single variable, which of the following is most appropriate? A. Geography (urban vs suburban) B. Benefits sought (value) C. Psychographics (lifestyle) D. Behavioral (usage rate)
A. Geography (urban vs suburban)
John Deere & co is deciding whether to use a feature-based claim or a benefit-based claim for its new JD 750 tractor's positioning. Which of the following is a benefit-based claim? A. Improved maneuverability and flexibility B. Drive tracks' design means they are capable of being driven independently of each other C. The first hydrostatic transmission D. A fully automatic dual-path hydrostatic drive
A. Improved maneuverability and flexibility
Interbrand, BrandZ, and Brand Finance all use qualitative and quantitative measurements to calculate brand value, but BrandZ model's greatest differentiating component is its: A. Incorporation of propriety global market research data B. Use of brand loyalty in its calculations C. Reliance on the financial performance of the brand D. Use of new present value (NPV) of the trademark and associated intellectual property.
A. Incorporation of propriety global market research data
One of the reasons customer value hierarchies is important is that A. It increases the level of stability as one moves up the hierarchical stages B. It is easy to implement C. It provides a "bottom-up" approach to decision making D. It is not necessary to understand the higher levels to implement decisions
A. It increases the level of stability as one moves up the hierarchical stages
Which of the following is NOT an offensive competitive strategy? A. Launching a fighter brand B. Offering differentiation C. Comparative advertising D. First-mover advantage
A. Launching a fighter brand
Segmentation and targeting influence a company's resource allocation, potentially affecting strategic decisions in all of the following areas EXCEPT: A. Mission formulation B. Customer management C. Advertising D. Price
A. Mission formulation
Among the segmentation variables related to the purchase behavior is consumers' share of wallet. This term refers to the: A. Money that a consumer spends with one firm as a share of all the money that the consumer spends in that category B. Total amount of money that a consumer spends as a share of that consumer's yearly expenditures. C. Money that a consumer spends with one firm as a share of that consumer's discretionary income. D. Money that a consumer spends with a representative firm as a share of all the money spent by similar consumers.
A. Money that a consumer spends with one firm as a share of all the money that the consumer spends in that category
Which of the following does the marketing process of segmentation, targeting, and positioning (STP) NOT address? A. Potential competitors B. Which customers to pursue C. Differences in customer preferences D. Potential customers
A. Potential competitors
Which of the following is most associated with a purchase using cognitive processes compared to emotional factors? A. Real-estate loan B. Rolex watch C. Honeymoon D. Sports car
A. Real-estate loan
A firm should consider three key factors when choosing a target segment, including not only the external factors of competition and segment characteristics but also the firm's internal: A. Resources and competencies B. Strategic and tactical plans C. Revenue targets and market share D. Sales goals and market share
A. Resources and competencies
Highly satisfied customers are A. Six times more likely to repurchase than "just satisfied" customers B. Twice more likely to repurchase than just satisfied customers C. Twenty times more likely to repurchase than just satisfied customers D. Not any more likely to repurchase than just satisfied customers
A. Six times more likely to repurchase than "just satisfied" customers
Benson Shapiro's "three degrees of interaction" include all of the following EXCEPT: A. Synergy B. Integration C. Leverage D. Consistency
A. Synergy
When designing new or improved products, some manufacturers spend a considerable amount of time just trying to catch up or keep up with new or improved products introduced by the competition. This often results in an inability to achieve strategic, competitive advantage. This would most likely be experienced by firms: A. That focus their R&D at the attribute level B. With less than 20% market share C. That practice lean production D. That target several different customer segments
A. That focus their R&D at the attribute level
According to the chapter, the consequences of product use are: A. The outcomes that are experienced by the customer B. The characteristics of the product used by the customer C. The life of the product D. The result of the purchase of a product
A. The outcomes that are experienced by the customer
A customer is shopping for spices in a US supermarket. She pauses as she compared the Goya brand of cinnamon to the McCormick brand. She opts for the McCormick cinnamon, judging it to be of better quality. This instinctual bias is known as: A. The provenance paradox B. The corona effect C. Brand Loyalty D. Brand Resonance
A. The provenance paradox
All of the following factors drive compensatory versus non-compensatory decision making EXCEPT: A. The total price of items B. Resource availability C. The importance of the various attributes to the consumer D. The size of the choice set
A. The total price of items
Which of the following is NOT an accurate statement about consequences: A. When compared to desired end states, consequences are a more abstract representation of customer needs B. Consequences can be outcomes experienced from using a product, as well as from simply owning the product C. Positive and negative consequences are the means by which goal attainment is accomplished or inhibited D. The importance of a particular consequence may vary across different use situations.
A. When compared to desired end states, consequences are a more abstract representation of customer needs
Sue is considering purchasing a new vacuum cleaner. Which of the following set is she using when she is ready to make the final decision? A. choice set B. Awareness set C. Consideration set D. Total set
A. choice set
In Dove's Real Beauty rebranding to replace women's notion of beauty (thin, white and blonde) with women who are healthy, realistic, and have high self-esteem, the company used a variety of marketing communications vehicles- billboards, TV advertising, Youtube videos, print ads, and so on, to promote its message. At the same time. consumers also weighed in via blogs and parody videos, newspaper columnists wrote about the campaign, and TV talk shows devoted entire programs to the subject. This is an illustration of a brand's value claims and position being: A. co-created B. manipulated C. media-driven D. faithful
A. co-created
The PARTS acronym is used to specify the components of a competitive game and provide a framework for analyzing that game. The S in PARTS stands for: A. scope B. segment C. sustainable advantage D. strategy
A. scope
The "zone of indifference" refers to: A. small, unnoticeable differences in a product's level of performance B. One of the many distribution tactics often expected in different channels C. A minute level of concern regarding the competition D. Market products that are of no interest to a particular consumer population
A. small, unnoticeable differences in a product's level of performance
Which of the following options would NOT be included in selling toothpaste to target customers who believe that all brands of toothpastes are similar when those consumers are expected to satisfy? A. Design colorful packaging to make the toothpaste stand out B. Advertise heavily C. Give the toothpaste an affordable price D. Make the toothpaste easy to find
B. Advertise heavily
Leonard M. Lodish and Carl F. Mela suggest that all of the following contribute to marketers' too frequent, shortsighted strategic vision EXCEPT: A. The short tenure of brand managers B. An increase in competitive barriers to entry C. The abundance of real-time sales data D. The dearth of data to measure long-term investment return
B. An increase in competitive barriers to entry
Which of the following choices is NOT an essential element of a positioning statement? A. Target Market B. Comparison to the competition C. Product category and type D. Most important benefit
B. Comparison to the competition
Marketing capabilities are among the building blocks of a companies business model- how it creates value and captures profits in the marketplace. Which of the following is NOT an example of a firm's capabilities? A. Brand management B. Customer database C. Customer relationship management D. Marketing communications
B. Customer database
Harley- Davidson motorcycle owners, who pay a price premium for their motorbikes, have formed the Harley Owners Group (HOGs), whose members take motorcycle rides and road trips together. These owners also derive satisfaction by being able to express their individuality and nonconformity through the Harley bikes that they own. Based on these factors, these owners are deriving which types of value from the Harley-Davidson brand? A. Functional and social value B. Experimental and social value C. Economic and experimental value D. Functional and economic value
B. Experimental and social value
When Dove's Real Beauty rebranding initiative attempted to replace women's notion of beauty (thin, white, and blonde) with women who are healthy, realistic, and have high levels of self-esteem, consumers attacked Unilever, the parent company, with having a double standard because its Axe skincare brand promoted stereotypical depictions of women's beauty and desirability. This is an illustration of a brand's value claim as not being: A. feasible B. Faithful C. Favorable D. Relevant
B. Faithful
A business-to-business (B2B) positioning strategy can sometimes be less profitable than business-to-consumer (B2C) positioning. When targeting industrial users with its power tools, for example, Black and Decker may have to offer profit-reducing volume discounts, costly product service support, replacement guarantees, and so on, when selling to businesses. Analyzing these profitability implications enables the company to choose value claims that are: A. Faithful B. Favorable C. Feasible D. Deliverable
B. Favorable
Conjoint analysis is an approach used to achieve preference-based segmentation by: A. Correlating preference data with response data B. Forcing consumers to make trade-offs between pairs of products with different attributes C. Forcing consumers to articulate why they make certain purchases based on different attributes D. Extending the multi-attribute model approach to new product categories
B. Forcing consumers to make trade-offs between pairs of products with different attributes
When shopping for a smartphone, a consumer first compares prices to see which brand offers the lowest price. After also inspecting the product features of the various phones, however, she decided that the lowest-priced brand is not her choice. Instead, she selects the brand with the best features. This outcome is the result of the chosen brand's unique value claim that is known as: A. Social value B. Functional value C. Economic value D. Experiential value
B. Functional value
According to Young and Rubicam's Power Grid, what are the key characteristics of an aspiring brand? A. High differentiation and relevance, high esteem and knowledge B. High differentiation and relevance, low esteem and knowledge C. Low differentiation and relevance, high esteem and knowledge D. Low differentiation and relevance, low esteem and knowledge
B. High differentiation and relevance, low esteem and knowledge
Which of the following approaches is NOT an avenue for changing the position of Arm & Hammer Baking soda in the minds of consumers in order to extend the product life cycle and increase sales? A. Identifying new usage situations B. Increasing trade promotions C. Adding new distribution outlets for the product D. Enlarging the target market
B. Increasing trade promotions
Developing a broad understanding of your market includes: A. Product- Type market B. Market region C. Generic product/ market D. Brand
B. Market region
All of the following should be part of Best Buy's in-store marketing strategy to influence sales of consumer electronics in its stores EXCEPT: A. acceptability of the price point B. Method of product delivery C. Recognizability of the brand name D. The decision to display the product or not
B. Method of product delivery
There are six forces that represent the major influences on an industry's profit potential and on the competitive opportunities for companies within that industry. Which of these forces is most affected by the presence or absence of significant barriers to entry? A. Buyers B. Potential entrants C. Potential substitutes D. Complements
B. Potential entrants
The manager of a chain of gyms is concerned about falling prey to marketing myopia by not defining his competitive landscape properly. How should he define the business to avoid falling into this trap? A. The best exercise for the price B. Solutions for good health C. Full-service fitness centers with personal trainers D. Cutting edge workout equipment unmatched by other facilities.
B. Solutions for good health
A competitive analysis of Starbucks entering new markets includes all of the following EXCEPT: A. McDonald's new store format in Saudi Arabia B. The number of new coffee drinkers in the united states every year C. Espresso drinks being offered by Dunkin Donuts D. The positioning of Burger King selling coffee drinks
B. The number of new coffee drinkers in the united states every year
Which of the following components is NOT included in the description of the MOA process? A. The capabilities and requirements of the distributors B. The stage of the product life cycle C. The market requirements of the customer D. The structure of the market
B. The stage of the product life cycle
Which of the following is NOT likely to be true of low-involvement purchases? A. They are quick transactions B. They are in the mid-price range C. They are routine D. They require little effort
B. They are in the mid-price range
The number 1 problem in new products is the failure: A. To have enough channels of distribution B. To be as good as the competition is C. To be price competitive D. To have enough new features
B. To be as good as the competition is
Which of the following best describes brand promise? A. The set of human characteristics associated with a brand B. What a company wants a consumer to do/gain/feel by using the product C. The underlying value proposition conveyed and the marketing language used D. The differentiation of a product relative to its closest competitors
B. What a company wants a consumer to do/gain/feel by using the product
Which information is NOT collected as part of a customer profile? A. Demographic characteristics B. Willingness to pay for specific products C. Important use situations D. Needs and wants
B. Willingness to pay for specific products
The makers of Cialis, an erectile dysfunction (ED) drug, are deciding whether to use a rational appeal (lasts four times longer than competitor Viagra), or an emotional appeal (enhances relationship intimacy) in its brand positioning. To arrive at the right decision, management must consider: A. the cost of manufacturing Cialis B. The price of Cialis C. How ED sufferers choose an ED drug, that is, their purchase criteria D. Pharmacies' receptivity to carrying the drug
C. How ED sufferers choose an ED drug, that is, their purchase criteria
With the MOA it is essential to estimate the number of customers in the market. What should be done to ensure a reasonable estimate of the number of customers for your product? A. Develop a mission statement B. Consider the purchasing cycle C. Identify the target market D. Assess the strengths and weaknesses of the competition
C. Identify the target market
A soda maker promotes that fact that its products are sweetened with Splenda, a brand of sugar substitute owned by the British firm Tate and Lyle and the US firm Johnson and Johnson. A cookware company advertises that its pots feature Teflon, a nonstick coating brand owned by DuPont. Both the soda maker and the cookware company are using a competitive technique known as: A. competitive attribute promotion B. complement branding C. Ingredient branding D. Added value promotion
C. Ingredient branding
Which of the following is NOT true of the type of game known as the prisoner's dilemma? A. It is a non-zero-sum game B. It is a situation in which two firms achieve the worst outcomes id both act in their own best interest C. It is a zero-sum game D. It is characteristic of industries with two dominant competitors.
C. It is a zero-sum game
Merging and milking brands are examples of A. Increasing brand loyalty B. Creating brand extensions C. Liquidating brands from a product portfolio D. Defending a brand
C. Liquidating brands from a product portfolio
All of the following should be considered when establishing an organization that consumers consider to be employing socially and environmentally responsible practices EXCEPT: A. minimizing its carbon footprint B. Optimizing sourcing practices for raw materials C. Maximizing shareholder return by relocating corporate headquarters overseas. D. Contributing to the communities in which the organization has operations
C. Maximizing shareholder return by relocating corporate headquarters overseas.
During which step in the STP marketing process is a value proposition defined and an action plan developed? A. segmentation B. Targeting C. Positioning D. Planning
C. Positioning
When competing against other energy drinks like Red Bull and Monster, 5-hour energy is thinking through how to get its brand to occupy a clear, distinctive, and desirable place in its target customers mind. What problem is it trying to solve? A. Targeting B. Competition C. Positioning D. Segmentation
C. Positioning
Subaru car owners are renowned for their repeat buying and brand loyalty. What type of connection would Keller conclude that the customer has achieved with the brand? A. Salience B. Performance C. Resonance D. Enlightenment
C. Resonance
Which of the following is NOT a benefit of segmentation for organizations? A. Segmentation helps identify undeserved customers B. Segmentation enables targeted customers C. Segmentation makes marketing more convenient D. Segmentation results in better products and services
C. Segmentation makes marketing more convenient
All of the following parties are members of a decision-making unit EXCEPT a(n): A. Influencer B. Gatekeeper C. Service provider D. Buyer
C. Service provider
Samsung is positioning its newest model TV as having the sharpest picture and the most realistic colors, as well as having the thinnest screen mirror. This is an example of: A. Horizontal positioning B. Breakaway positioning C. Vertical positioning D. Triangular positioning
C. Vertical positioning
There are many potential segmentation variables, but these variables can be grouped into three basic categories. The categories include all of the following EXCEPT: A. Who are the customers? B. Why do customers make the decisions they do? C. When do customers buy? D. What have the customers done?
C. When do customers buy?
The phase 3 post-purchase process for a involvement shopper is best described as: A. Evaluating self as astounded or disappointed B. Reevaluating the purchase to a significant extent and likely to have buyer's remorse C. reevaluating the purchase little or not at all D. Reevaluating the purchase only moderately unless switching brands
C. reevaluating the purchase little or not at all
Which of the following is NOT a situation that can benefit from an MOA? A. No product is identified, and no need or want is identified B. A need or want is identified, but no product or service is identifies to satisfy it C. A product exists, but the need or want for that product is not well understood D. A new product has been developed, but no price has been determined
D. A new product has been developed, but no price has been determined
All of the following are terms that describe the phases that physicians go through before they are willing to prescribe a new drug EXCEPT: A. comfortable B. Aware but skeptical C. Confident D. Approval of drug company's business practices
D. Approval of drug company's business practices
Reynolds International Pen company introduced the ballpoint pen to consumer markets. Despite its great success, Reynolds was soon overtaken- and ultimately driven out of business- by competitors like Bic, which improved on the original products. For example, Bic's ballpoint pen was disposable. Based on this information, which of the following is NOT true of the competitive strategy used by Bic? A. Bic was a fast follower B. Bic used a strategy of imitation C. Bic used an offensive strategy D. Bic was a first mover
D. Bic was a first mover
The segmentation process begins by grouping: A. Market offerings with similar sales potential B. Competitors with similar needs and preferences C. Customers with similar lifestyle values D. Customers with similar needs and preferences
D. Customers with similar needs and preferences
Whole foods grocery stores has chosen to market its organic products to college-educated consumers. This approach is an example of what type of segmentation? A. Geographic B. Psychographics/lifestyle C. Benefits sought D. Demographics
D. Demographics
Which activity is NOT a part of the MOA process? A. Macro environment analysis B. Forecast sales from product markets C. Establish market requirements D. Develop a production plan
D. Develop a production plan
When conducting a five C's analysis and developing the context, which factor should NOT be included in the analysis? A. Culture B. Technology C. Legal context D. Firm capabilities
D. Firm capabilities
Which of the following is NOT a defensive competitive strategy? A. Framing the game B. Steadfast marketing support C. Retaliation D. First-mover advantage
D. First-mover advantage
Mass customization is most appropriate: A. For technology products in emerging markets B. In industries with minimal competition C. In markets where customers have homogeneous needs D. For technology products where the cost of new versions is extremely low
D. For technology products where the cost of new versions is extremely low
All of the following are examples of companies anticipating and prompting the next purchase of the same product EXCEPT: A. Kingsford Charcoal offering special features that indicate when it is time to buy again B. 24 Hour Fitness encouraging customers to renew memberships C. Fortune magazine sending renewal notices to readers several months before their magazine subscriptions expire D. GEICO insurance company offering a significant discount to consolidate home, car, and boat insurance with one provider
D. GEICO insurance company offering a significant discount to consolidate home, car, and boat insurance with one provider
Whole Foods differentiates its grocery stores from traditional stores by offering organic, natural, and locally sourced products. At the same time, its products are, on average, 25% higher in price than those of regular (nonorganic) supermarkets. What type of positioning is Whole Foods using? A. Natural positioning B. Premium or upscale positioning C. Vertical positioning D. Horizontal positioning
D. Horizontal positioning
The objective of a macro environmental analysis is to A. Identify the major markets in which a new product might compete B. Determine the demand for a new product C. Determine the optimum price for a new product D. Identify the relevant demand forces, determine their relation, and predict how they might change in the future
D. Identify the relevant demand forces, determine their relation, and predict how they might change in the future
A brands position is based on value claims as perceived by: A. Suppliers B. Consumers C. Competitors D. Investors
D. Investors
MyHair, a maker of home hair color, has offered cheaper versions of the leading brands. Now the company is investing heavily in the development of a product that will enable women to choose their own mixtures of color, conditioner, and shine agents, and allow the company to compete with the market leader's customizable product. Based on this information, which of the following correctly describes MyHair's market position? A. It is currently a challenger, but is demonstrating the intention to become a follower B. Its current market position is unsustainable C. It is currently a nicher, but is demonstrating the intention to become a challenger D. It is currently a follower, but is demonstrating the intention to become a challenger
D. It is currently a follower, but is demonstrating the intention to become a challenger
Which of the following is NOT one of the challenges that Merck faced when it marketed Propecia? A. In clinical trials, Propecia took up to three months to show results, and the result were often modest B. Of men who experienced baldness, about a third simply resigned themselves to the fact and did not plan to buy a product that would prevent hair loss C. Men who eventually visited a doctor often found the doctor reluctant to prescribe a drug for what was considered a lifestyle or cosmetic condition D. Men tended to overestimate their rate of hair loss
D. Men tended to overestimate their rate of hair loss
Marketing resources are among the building blocks in a company's business model- how it creates value and captures profits in the marketplace. Which of the following is NOT an example of a firm's resources? A. E-commerce websites B. Patents and trademarks C. Creative platform D. Pricing flexibility and expertise
D. Pricing flexibility and expertise
IKEA's positioning includes the elimination of sales assistance on the floor, no delivery or assembly of products, and offering only a limited variety of models. Yet IKEA furniture stores also offer low prices, supervised play centers for children while parents shop, and low-priced but quality dining in their restaurants. This is an example of: A. Forward positioning B. Vertical positioning C. Horizontal positioning D. Reverse positioning
D. Reverse positioning
If they wish to advertise to children in the United States, companies must craft their campaigns in accordance with the Children's Television Act and other restrictions on the exposure of this audience to commercial messaging. Similarly, to advertise in Europe, firms must carefully observe restrictions on unsolicited advertisements in certain media as stipulated by the European Directive on Privacy and Electronic Communications. Which component of the PARTS model captures the impact of such restrictions? A. Added values B. Scope C. Tactics D. Rules of engagement
D. Rules of engagement
Which of the following represents the most significant risk to companies using a mass-marketing approach? A. They may lose customers to international marketers B. They may not realize economies of scale C. They may overemphasize the benefits of customized products D. They may lose customers to niche marketers
D. They may lose customers to niche marketers
Choosing whether to use a rational or emotional positioning appeal requires analysis of several factors. Which factor listed below is NOT relevant for this decision? A. How target customers use the product B. How competitors use rational vs emotional appeals C. How target customers choose a brand D. Whether or not the product will be priced at premium
D. Whether or not the product will be priced at premium
The total population of cigarette smokers in many markets is stagnant or decreasing over time. Under such conditions, the goal of tobacco companies is to entice existing smokers to switch brands. These tobacco marketers are playing which type of game? A. Non-zero-sum B. Nash equilibrium C. Positive-sum D. Zero-sum
D. Zero-sum
A firm might NOT want to engage in social media because (i) its product is unlikely to generating online conversation (ii) the firm wants to act transparently (iii) the reputational risk from hostile conversations about the product is fairly high. A. ii only B. i and ii only C. i, ii, and iii D. i and iii only
D. i and iii only
Corporations can benefit from personal branding through: (i) celebrity endorsements (ii) customers who relate to the brand personality (iii) development of employee leadership potential A. i only B. ii only C. i and ii only D. i and iii only
D. i and iii only
Most executives agree that brand strategies must be engineered across the entire marketing mix and throughout the life cycle of a product. Which of the following is NOT a component of that marketing mix? (i) Pricing (ii) Market research (iii) Production (iv) Innovation A. iii only B. ii and iv C. i only D. ii, iii, and iv
D. ii, iii, and iv
Which of the following is NOT a marketing channel task? A. Information/market feedback for strategy development B. Demand fulfillment C. Before-sales service D. Demand generation
C. Before-sales service
"What the market will bear" refers to customer response to which element of your product? A. Weight B. Features C. Price D. Benefits
C. Price
Which of the following participants is NOT part of the buying process? A. Competitior B. User C. Influencer D. Purchaser
A. Competitor
The purchase phase of the decision-making process of purchasing a washing machine includes all of the following EXCEPT: A. Timing of the purchase B. Installation of the product C. Payment method D. Brand of the product
B. Installation of the product
Where on Young and Rubicam's Power Grid would a product with high brand recognition but with low differentiation and relevance likely reside? A. Upper right quadrant/ Power Brand B. Lower right quadrant/ Eroding Brand C. Lower left quadrant/ New or fading brand D. Upper left quadrant/ Aspiring brand
B. Lower right quadrant/ Eroding Brand
Procter and gamble wants to introduce a new line of anti-aging cosmetics in Singapore. which of the following is not a collaborator? A. suppliers of ingredients from Japan B. R&D department in the United States C. Walgreens stores D. Outsourced manufacturing in China
B. R&D department in the United States
Which of the following is among the fundamental elements in the dynamic process for managing marketplace competition? A. choose the right game B. Reinforce the existing game to reshape the playing field C. Analyze the games and their players D. Execute offensive or defensive competitive moves while observing and analyzing rivals moves
B. Reinforce the existing game to reshape the playing field
Leonard M. Lodish and Carl F. Mela suggests that all of the following contribute to marketers' too frequent, shortsighted strategic vision EXCEPT: A. The short tenure of brand managers B. The dearth of data to measure long-term investment return C. An increase in competitive barriers to entry D. The abundance of real-time sales data
C. An increase in competitive barriers to entry
Research indicates that which of the following plays the greatest role in the product purchase decision process? A. Point-of-purchase displays B. Discounts C. Banner advertising D. Customer reviews/recommendations
D. Customer reviews/recommendations
The step in the decision- making process that is unique to consumers who are actively seeking to buy products that need a prescription is: A. Considering alternative products B. Purchasing the product C. Determining a need for the product D. Visiting the physician
D. Visiting the physician
Rockwell Collins is a manufacturer of avionics and communication systems for corporate aircraft. In response to a general slowdown in the business aviation industry, Rockwell announced cutbacks for the items it makes for small and midsize jets. Based on this information, which of the following segmentation variables is Rockwell most likely to utilize? A. "Firmographic" B. Psychographic C. Geographic D. Buying approach
A. "Firmographic"
Relevance is a critical criterion in formulating a value claim for a positioning statement. The makers of Cialis, an erectile dysfunction (ED) drug, are considering a value claim that it "enhances intimacy and relationship." To assess the relevance of this claim, Cialis must determine if the claim: A. Aligns with the specific needs of the target market B. Is unique among value claims of competitor brands C. Is supportable by scientific evidence D. Can be endorsed by an authority figure or a celebrity
A. Aligns with the specific needs of the target market
Laddering is a successful interviewing method that explores A. Attributes preferred, consequences desired and benefits sought B. Price willing to pay, place willing to purchase, and preferred payment method C. Consequences desire, price willing to pay, and exit strategy D. The differences between marketing and advertising strategies
A. Attributes preferred, consequences desired and benefits sought
In regard to segmentation, all of the following are examples of a customer's behavior or relationship with a product EXCEPT: A. Demographics B. loyalty status C. User status D. Usage rate
A. Demographics
For claims about the product, positioning statements should: A. Cite all of the benefits that the brand offers B. Focus only on the points of differentiation between this brand and others C. Focus on the single, most important value claim D. Avoid any reference to points of similarity with competitor brands
C. Focus on the single, most important value claim
