Marketing Midterm

When products are positioned effectively for the target buyer, what is the benefit to the seller?

All of these are benefits

Jenny is working on a cruelty-free makeup product. Which of the following psychographic characteristics could Jenny focus on when segmenting the market?

Animal activists

Which of the following is an example of a consumer packaged good (CPG)?

Doritos chips

True or False: A buyer persona is ideally listed as a statistical range of data to keep the information non-personal and objective.

False

True or False: An Italian bakery opens up another location in France to extend its product life cycle. This would be known as product modification.

False

True or False: Under-positioning occurs when a product has been positioned too narrowly.

False

The reality that balancing supply and demand for services is representative of which characteristic of services?

Perishability

Pets Coop is an online company dedicated to the needs of families with pets. Which of the following segments would NOT be accessible to Pets Coop?

Pet owners with minimal internet capabilities

All of the following are characteristics of services except:

Scalability

A customer of your service experienced a service failure. Your team did an excellent job recovering from the failure, and the customer is very satisfied with the outcome. What does this scenario describe?

The Service Recovery Paradox

Which of the following is true about the product life cycle of high-learning products?

The introduction phase is longer because it takes longer for sales to take off

Which of the following is an outcome of focusing efforts on identifying and then satisfying customer needs?

Long-term profitability through customer satisfaction

The largest component of the U.S. Gross Domestic Product (GDP) is:

Services

Which product would be the most strategic to be marketed using differentiated marketing?

Athletic shoes

Which positioning strategy tends to ascribe lots of credit, accolades, and public admiration for being an originator of what’s being positioned?

Being first

Your company wants to find out if people know about their newest product "Snacksalicious." Which type of survey question would help determine this?

Brand awareness

Your completely new product for reversing baldness is in development. As a marketer, what is your primary role in this stage of the product life cycle?

Conducting preliminary market research and using consumer feedback to modify the product

What is the error when a product's positioning touts benefits that are contradictory?

Confused positioning

Which would be an example of a way that a brand can add value to a product?

Consumers perceive less risk in purchasing and choose the brand

Which of the following would increase a brand's equity?

Consumers reacting positively to the new product line

You're the marketer for a hip new electric motorbike. Which marketing strategy would be most appropriate during the product's decline phase?

Decrease or phase out promotions

A consumer in the ___ phase of looking for a haircut may use Yelp to look at reviews to decide which stylist might best fit their needs.

Evaluation of Alternatives

Which of the following is NOT where consumers generally get their expectations of a product or service?

Face-to-face discussions with the manufacturer

True or False: Concentrated marketing focuses on different marketing strategies for multiple segments.

False

True or False: Marketing management focuses on generating short-term profits through sales volume.

False

True or False: Positioning as a follower essentially means finding an occupied niche for your product to try to take over.

False

True or False: The Chief Marketing Officer (CMO) is responsible for generating new business prospects, known as "leads."

False

True or False: The marketing team should develop product positioning and the positioning statement without collaboration with the sales team or product managers.

False

True or False: With umbrella branding, a company benefits from economies of scale from branding all products similarly.

False

You have recently created a luxury line of basketball uniforms and want to develop a target market. Which of these would be the LEAST meaningful characteristic for a target market segment?

Hair color

You own a pizza joint and want to focus your marketing on customers in the information search stage of the buyer behavior process. Which of the following would be your best strategy to accomplish this?

Improving the website SEO so that customers can find your website when searching on Google

In this branding strategy for a company, each product has a different name and brand strategy. The products will likely have very different packaging and different brand associations.

Individual Branding

The reality that complex services are often difficult to describe using words is representative of which characteristic of services?

Intangibility

What is the result of under-positioning a product?

It fails to convey an understanding of what makes the product better

In what way is the buyer behavior process different for services than for products?

It is not possible to evaluate services before their purchase and consumption

Trina is selling a soap that makes its user smell like daffodils and peat moss. She wants to focus her marketing on customers who are in the information search stage of the buyer behavior process. Which of these would be a good strategy for marketing to the customers in the information search stage?

Make sure that the company website uses appropriate keywords in its tags, copy, and other content so that a search engine will match it up with a customer searching for those same keywords

David has just started a new job at a company where he is responsible for implementing the organization's marketing strategy in the day-to-day activities of the marketing team. Given his job description, which of the following marketing roles is David in?

Marketing Management

Which of the following services will a consumer have the most difficulty accurately judging its quality, even after the purchase?

Medical diagnosis

You own a pizza joint and want to focus your marketing on customers in the evaluation of alternatives stage of the buyer behavior process. Which of the following would be your best strategy to accomplish this?

Passing out flyers describing the superior pizza quality when compared to competitors' choices

Which characteristic of services relates to the inability to hold them in inventory?

Perishability

Which of the following is NOT one of the 7 Ps of Marketing?

Perspective

Winston is the owner of a line of pet care products tailored specifically for cat lovers. He sells his products in big-box stores and on his company website, but he is considering expanding his business to also sell on a third-party retailer's website. Which of the Ps of Marketing is this an example of?

Place

Schmidt is the owner of a luxury line of bathrobes for men and women. He currently sets the cost of his bathrobes using a value-based framework, but he is considering a change to luxury pricing to reflect the quality of his product. Which of the Ps of Marketing is this an example of?

Price

Jocelyn is the owner of a small café in her hometown. She is interested in creating a service blueprint and set of standards to help establish consistent and efficient service to her customers. Which of the Ps of Marketing is Jocelyn concerned with?

Process

Which of the Ps of Marketing helps marketers with establishing consistent and efficient service?

Process

Chef Boyardee canned ravioli is an example of a:

Product brand

Your company sells cold coffee sports drinks and wants to target those who highly value fitness and working out. This would be an example of targeting by which segmentation strategy?

Psychographic

You own a pizza joint and want to focus your marketing on customers in the need recognition stage of the buyer behavior process. Which of the following would be your best strategy to accomplish this?

Running an ad campaign on social media reminding people to stop and get a snack - pizza, of course

According to trademark criteria, which of the following new names would likely qualify for a trademark?

The brand name fried potato for a company that sells cell phone covers

True or False: You're shopping at the store and randomly grab a bag of chips that you'd like to buy. You've just purchased a convenience product.

True

What is the error when a product's positioning provides no clear advantage or differentiation?

Under-positioning

Handbags International has created a unisex backpack that can be used in situations ranging from school to business and everything in between. Which target marketing strategy should Handbags International use to successfully market their new unisex backpack?

Undifferentiated

Which characteristic of services makes it harder to manage customer satisfaction?

Variability

True or False: A brand can help a consumer identify a product or company.

True

True or False: A complex software that requires training to use would be considered a high-learning product.

True

True or False: A need occurs when there is a deficiency between a person's current state and his or her desired state.

True

True or False: A person in a marketing analytics role would need to be able to find and use customer data and then be able to properly analyze and communicate their findings.

True

True or False: A travel company focused on those purchasing trips for vacations would be an example of segmenting by usage situation.

True

True or False: Brand reputation and word of mouth are two main sources of credibility for service providers.

True

True or False: If a customer is in a high emotional state when interacting with the brand, it can make the associations that the customer develops stronger.

True

True or False: One of the goals of marketing in the purchase stage is to assist consumers in following through on that purchase decision.

True

True or False: Target Marketing is the process of selecting one or more segments for focused marketing efforts.

True

True or False: The introduction phase for a high-learning product is usually longer than others.

True

True or False: The perishable nature of services makes balancing supply and demand difficult.

True

Which of the following is NOT true about brand equity?

A brand can only increase a product's value - it cannot have a negative equity attached to it

One of the goals of marketing in the purchase stage is:

To assist the consumer in following through with a purchase

Product packaging has all of the following purposes except which?

To change the product's life cycle curve

Which of the following reason(s) is why a company would use the "Positioning as a Follower" strategy?

To identify an unoccupied niche to fill when other products are already in the market

According to Ries and Trout, positioning is what you do:

To the mind of the prospect