Marketing Review questions

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Marketing Review questions
2013-11-03 19:37:09
Marketing Exam

Marketing Exam #2
Show Answers:

  1. Pepsi wants to create a new campaign to appeal to a different audience but can’t decide exactly who their target audience will be. They begin by dividing the market into smaller groups of buyers with distinct needs, characteristics and behaviors. This is an example of…
    Market Segmentation
  2. Royal Caribbean, like many cruise lines, targets adventure seekers. They appeal to couples and families by offering hundreds of adventurous activities such as rock walls and ice-skating. Royal Caribbean segmented the market based on _________ characteristics to select its target market.
  3. XYZ company has decided to ignore market segment differences and target the entire market with one offering that will appeal to the largest number of buyers. XYZ company has chosen a ___________ marketing strategy
    Mass-Marketing and undifferentiated marketing
  4. P&G markets six different laundry detergents, Tide, Cheer, and Gain to name
    a few, to suit the needs and appeal to different market segments. This is an
    example of a _________ marketing strategy
  5. Where a product is placed in the minds of consumers’ relative to competing products is its….
  6. Southwest Airlines is known as a no-frills, low-priced airline. They do not serve meals on their flights or reserve seats. They can, however, fly you from Philadelphia to Boston for $30 each way. Southwest Airlines has chosen a ______________ value proposition.
    Less for much less
  7. Due to little product awareness or knowledge, _____________ products require aggressive advertising and personal selling by producers and resellers.
  8. Seth owns a landscaping business. Because of all the snow Philadelphia received this winter he decided to extend his services to include snow shoveling and plowing. He therefore went out and purchased a bunch of shovels and a snow plow. Because they were purchased for his business, the shovels and plow are considered______.
    Industrial products
  9. Cheryl is going on a date tonight. She realized she was out of toothpaste so she runs out to CVS. She grabs a tube of Crest off the shelf without any thought. For Cheryl, Crest toothpaste is a _______.
    Convenience product
  10. When Honda added the affordable FIT to its product line, the company stretched its product line _______.
  11. When Vitamin water produces a new flavor of their popular line of consumer beverages within the same category, it is a______.
    Line extension
  12. When the brand Ralph Lauren, known for their clothing, began making lines of towels, sheets, and other home accessories, that was ________.
    Brand extension
  13. Justin Time, brand manager for pampers, is evaluating 15 new product ideas for new diapers. He just threw out 13 of the ideas because they were not feasible. What stage in the new product development process is he in with this brand?
    Idea screening
  14. Tina Temperpedic is VP of marketing for Orange ( an innovative tech company that makes computers, mp3 players and cell phones), they launched a cell phone that has a 3-d keyboard about 6 months ago. As of 2 weeks ago, sales have grown very fast  and profits are increasing, but they have not reached peak sales performance.  What stage in the product life cycle is the product in?
  15. When sales are at their peak and profits are high a product is in the _____ stage of the PLC
  16. During the Growth stage of the PLC when sales and profits are rising, marketers looking to maximize market share should adopt a ______ pricing strategy
    Market penetration
  17. Modifying the market, the product, or the marketing mix are three strategies used to manage the PLC during the _____ stage
  18. Most new products fail because...
    • An overestimation of market size
    • design problems
    • pushed product despite poor marketing research
    • incorrectly positioned, priced or advertised
  19. Mcdonalds offers a hamburger on their value menu that is good quality, but has been price changed because of the current economic state to a fair price, while the service remains above par,in combination with all other aspects. What type of pricing is this?
  20. Mikey Rosoft works for a consumer goods company that makes high-end lotions. Mikey created a lotion that is relatively similar to regular lotions, but consumers perceive this exclusive, high-end and would be willing to pay anything because it has high perceived value.
  21. Rolls Royce charges over $500,000 per vehicle sold, but you receive many added features to make up for the high price, such as tv systems, computer outlets, tables, beverage coolers, impeccable radio system and more. What type of pricing is this?
  22. Jimmy Dean works for a consumer goods company that producers breakfast sandwiches. He know that the bread costs .50, eggs cost .25, cheese costs .05 and bacon costs . 20. He wants to add a standard markup of 50% to the cost for the price of the product which would be $2. What type of pricing is this?
  23. Gennie Motarz works for vespa scooters. Vespa is coming out with a new scooter that can last 800 miles on 1 gallon of gas, which is priced 40% higher than any other scooter on the market. What type of pricing is this?
  24. Gillette sells their initial razors very inexpensively, but the replacement blades for that razor are extremely expensive. The price for this unit is ______
    Captive-product pricing
  25. Ashley works as an independent beauty consultant for Mary Kay. She sells Mary Kay products by holding parties, distributing catalogs, and occasionally, going door-to-door. Mary Kay uses a _____marketing channel because the company sells directly to the consumer.
  26. The Shoe Box, a family owned retailer of shoes, buys shoes from Shoe Warehouse to sell in their store. Shoe Warehouse sells the shoes but they do not produce them. They are purchased in large quantities from a variety of manufacturers.

    This is an example of an _______________.
    Indirect marketing channel and a conventional distribution channel.
  27. Many producers are shifting away from using intermediaries or replacing traditional channels with new types in order to distribute their products to consumers. This is known as _________.
  28. Dell purchases processors from Intel to use in their computers.  Intel is a ___________ supply chain partner