Marketing Test 3
Coke servings transported in a year? 2 billion 800 million 7.2 billion 88 billion 400 billion
88 billion
(Psychologically), the list price is also known as? The Everyday Low Price The perceptual benchmark price A reference price The Manufacturer's Suggested Retail Price (MSRP)
A reference price
Trader Joe's success is due to their? Product strategy Pricing strategy Promotion strategy Place strategy All 4P's
All 4P's
Product = core customer value + actual product + Packaging Returns policy Psychological Benefits Associated services
Associated services
On which dimension does the COMPETITOR have the lowest rating? Reliability Tangibles Empathy Assurance
Assurance
These were decisions related to? Capturing value Communicating value Creating value Delivering value
Communicating value, Delivering value
Premium pricing" probably adopts a? Competitor-based approach Cost-based approach Profit-based approach High-low strategy
Competitor-based approach
Innovation can "vary from completely-new-to-the-world to slightly modified" products and therefore is a(n)? Qualitative variable Continuum Inverted U curve S-shaped curve
Continuum
"80% of TJ's merchandise is private label"? Creating value Communicating Value Delivering value Capturing value
Creating value
If a product is more complex, I would expect it to? Diffuse slower Diffuse faster Diffuse at an average rate Not be adopted at all
Diffuse slower
Wal-Mart uses a? High-Low pricing strategy EDLP strategy Cost-based strategy Value-based strategy
EDLP strategy
Low price, smaller volume, but high profits. TJ's business must have: Low quality merchandise Inexpensive labor Efficient supply chain Economies of scale
Efficient supply chain
On which service quality dimension can Lou's substantially improve? Reliability Responsiveness Tangibles Empathy Assurance
Empathy
Which SQ dimension refers to "caring attention to customers"? Assurance Empathy Responsiveness Reliability Tangibles
Empathy
Target's tagline? Save big money Life. Well spent There's smart, and then there's ______ smart Expect more. Pay less
Expect more. Pay less
Innovation is primarily for large firms with a strong research focus
False
Two types of flows managed in supply chains: information flow and? Funds flow Personnel flow Transportation flow Goods flow
Goods flow
At which stage is there the MOST RAPID increase in profits? Introduction Growth Maturiy Decline
Growth
Ultimate objective of supply chains? Seamless information flows Managing SC institutions efficiently Efficient flow of materials and goods Happy customers
Happy customers
Wal-Mart uses an EDLP strategy. The other popular retail price strategy is? Skimming High-Low Market Penetration Value-based
High-Low
At which stage does the new product BEGIN making profits? Introduction Growth Maturity Decline
Introduction
Walmart is able to SUSTAIN its low prices primarily because of: Its power and strength in the industry Its efficient supply chain Lower quality merchandise Massive volumes sold
Its efficient supply chain
Why is a sustainable competitive advantage important? Helps you be the market leader Helps you steal away competitors' customers Key to long-term financial success Key to longevity in the marketplace
Key to long-term financial success
Which category of adopters would Facebook be likely targeting now? Innovators Early adopters Early majority Late majority Laggards
Late majority, Laggards
Efficient flow of goods is? Transportation management Retail management Logistics management The marketing channel
Logistics management
Where do marketers turn to bridge an Information Gap? The IT people External consultancies Top management Marketing research
Marketing research
Which model in marketing describes physiological and self-actualization needs? SWOT Elaboration Likelihood Model Maslow's theory BCG Matrix
Maslow's theory
Stage of PLC for the smartphone? Introduction Growth Maturity Decline
Maturity
Which statement is true about new products? Pioneers (first-movers) are always successful Most new products fail About one-third of all new products are successful There is a 50-50 chance of success for every new product
Most new products fail
Most offerings in marketing can be classified into services OR products Yes No Not sure
No
Tool to help visualize positioning? Hofstede's map Perceptual map CDSTEP BCG Matrix
Perceptual map
If customer demand CAUSES manufacturer to ship more merchandise, what type of SC? Push supply chain Pull supply chain Vendor-managed supply chain Horizontal supply chain
Pull supply chain
Which type of SC is more sensitive to customer demand? Push supply chains Pull supply chains Both
Pull supply chains
Expect prices at TJ's to be? A little high (as more value is provided) About the same as other grocery stores Quite a bit lower
Quite a bit lower
Dealing with a service failure? "Too bad. It's just one customer who expected too much" Explain politely why she is in the wrong Refer her to your boss Recover the customer Quickly offer a refund
Recover the customer
Massive central storage of data from retail POS terminals? Electronic Data Interchange Data VMI Quick data Response systems Retail data warehouse
Retail data warehouse
"Supply Chain" - which is NOT included? Logistics Flow of information Flow of materials and goods Revenue flows Institutions
Revenue flows
Trader Joe's distribution intensity? Exclusive Intensive Selective
Selective
China has a service sector that is? Larger than that of the US About the same as that of the US Smaller than that of the US Not enough information to determine
Smaller than that of the US
Which SQ dimension refers to physical "cues"? Tangibles Assurance Responsiveness Empathy
Tangibles
Which model deals with the "life stages" of a product? The Elaboraton Likelihood Model The PLC The DoI The Age Stage Concept
The PLC
A marketing INNOVATION can be something that is NOT a product.
True
Bait-and-switch? Tactics used in selling fishing gear Unethical pricing without the intention to sell at that price Selling below the store's cost Aggressive holiday pricing
Unethical pricing without the intention to sell at that price
Wal-Mart is highly "efficient" with its supply chain. Meaning? Has highest market share Better quality of merchandise Uses fewer resources Covers more territory
Uses fewer resources
Best approach from a marketing perspective? Cost-based methods Competitor-based methods Value-based methods
Value-based methods
CONSISTENCY of service is very difficult due to? Perishable Variable Inseparable production and consumption Intangible
Variable
When you hear "Everyday Low Pricing," what brand comes to mind? JC Penney Kmart Amazon Walmart
Walmart
According to DoI, which factor is primarily responsible for new product diffusion? Sales and discounts Advertising Word-of-mouth by consumers Personal selling by sales reps
Word-of-mouth by consumers