marketing management exam 3
stimulating current uses with existing customers
Heinz expanded the spout in the ketchup bottle so the hole was wider so more than normal came out when it was poured. Which growth drivers is this an example of? retaining uses by existing customers stimulating current uses with existing customers attracting new-to-category customers generating new users by existing customers
15%
a business wants to calculate the net promoter score for product X amongst its 50 consumers. After collecting responses from these consumers, they find that 25 of the respondents are promoters, 15 are passives, and 10 are detractors. What is the net promoter score for product x?
generating new uses by existing customers
arm and hammer encourages customers who buy their baking soda to also use it to whiten teeth. They are using _______ strategy retaining uses by existing customers attracting new-to-category customers generating new uses by existing customers stimulating current uses with existing customers
repurchasing
customer dissatisfaction can be shown through all of the following except: switching behavior repurchasing negative word-of-mouth complaints
all of these
customers should care about customer satisfaction because... satisfied customers will share their positive experience with others satisfied customers will purchase the product in the future satisfied customers are more loyal all of these
economies of scale
customization may provide all except: tailored names economies of scale excellent local image customers keep their landmark and feel noticed
all of these
how would you measure customer satisfaction? observe the amount of repeated purchases administer a satisfaction survey use the net promoter score all of these
present markets, new products
if a firm refined its core product and added new features, which quadrant in the product-market growth matrix does this correspond to: present markets, present products present markets, new products new markets, present products new markets, new products vertical integration strategies
diversification
in 2004, Debeers introduced the "reward yourself" ring, marketed to women who were not their traditional core customers. It is using the _____________ strategy market penetration market expansion product expansion diversification
sell current products to someone new
ingersoll-rand is the manufacturer of a Club Car, America's leading golf cart. They have now started trying to sell the Club Car golf cart to non-golfing seniors who live in master-planned suburban retirement communities. Which of the following strategies are they following to achieve growth? get current users to use more get current users to use something different sell current products to someone new control more parts of the value chain
networking
motivations underlying global strategies include all of the following except obtaining scale economies networking access to national investment incentives global innovation
generating new uses by existing customers
oliver, a company that produces different types of olive oil, launched a promotional campaign focusing on the alternative uses of olive oil. What strategy is the company implementing to expand its total market demand? retaining uses by existing customers stimulating current uses with existing customers attracting new-to-category customers generating new uses by existing customers
net promoter score
what does NPS stand for
market expansion
when a firm looks for new users in groups that have never used its current products, it is using the ______________ strategy market penetration market expansion geographical expansion product expansion diversification
physical surroundings
which is NOT a part of social structure physical surroundings customs rituals laws used to maintain orderly social life
brand awareness
which is not one of the ways in which you can measure satisfaction NPS score satisfaction score repeated purchase brand awareness
growth driving
which of the following is not a growth strategy discussed in the matrix? diversification market penetration market expansion growth driving
loyalty
which of the following is not an organizational element that contributes to customer-centricity culture human capital structure loyalty
responsiveness
which of the following is not one of Hofstede's dimensions of culture? individualism/ collectivism power distance responsiveness masculinity/ femininity
subtracting the percentage of detractors from the percentage of promoters
which of the following statements is true? net promoter score is computed by subtracting number of detractors from the number of promoters subtracting the percentage of detractors from the percentage of promoters calculating the number of promoters calculating the percentage of promoters
how likely are you to recommend brand X to a friend or colleague?
which of the questions below is used to assess the net promoter score? how likely are you to by brand X? how satisfied are you with brand X? how likely are you to consider brand X? how likely are you to recommend brand X to a friend or colleague?
beliefs
which of these is NOT an example of an observable or evident cultural characteristic? customs beliefs behaviors language
market retrenchment
which of these is NOT one of the quadrants in the product-market growth framework? market penetration market retrenchment market expansion product expansion diversification
False
T/F: a benefit of customization is that it may provide economies of scale
true
T/F: a customer-centric firm is one in which the customer is at the forefront of al the firm's decisions and actions
true
T/F: a firm can pursue one or more of the four product-market growth stragies
true
T/F: a general risk associated withy entering a new market is failing to correctly identify a competitive threat
false
T/F: a market-penetration strategy is one where a company searches for new customers in a group that has never used a product before
true
T/F: customer centricity creates value for customers and grows long-term profits
false
T/F: customer centricity means that the firm should give customers everything they want
false
T/F: customer-centric means giving everything to customers, no matter what they ask
false
T/F: deep culture consists of customs, rituals, and laws used to maintain an orderly social life
false
T/F: diversification means that companies branch out to new customers with existing products
true
T/F: ecology is the physical surroundings, human adaption and interaction with the physical environment
false
T/F: evident culture consists of the underlying aspects of culture, i.e. values, view of the world, beliefs, ect.
true
T/F: firms can become customer-centric by creating an organizational culture that has shared values, beliefs, norms, behaviors, and artifacts that reflects a focus on the customers
true
T/F: if coke tried to get people to drink out of 16 oz cans, instead of 12 oz, that would be an example of growth through stimulating existing uses with current customers
false
T/F: on average, it takes 10 positive experiences to outweigh 1 negative experience
true
T/F: organizational culture provides the key to strategy implementation because it is such a powerful force for providing focus, motivation, and norms
true
T/F: power distance is the response to inequalities of power from low to high, which impacts employee-boss relationships
true
T/F: satisfaction is the positive evaluation of a decision
customer loyalty
The five key organizational elements that contribute to customer-centricity include all but one of the following: competencies metrics and incentives culture customer loyalty structure
31%
XYZ company surveyed 100 people, of which 56 are promoters, 19 are passives, and 25 detractors. What is NPS?
