Marketing - Notes 28-37

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  1. Unserved
    or underserved markets are referred to as ________.

    A)niche markets
    B)intangible assets
    C)white space
    D)target segment
    C)white space
    (this multiple choice question has been scrambled)
  2. La
    Quinta sends surveys to customers asking them to rate attributes of the hotel
    chain from 1-to-5 where "1" means "very unpleasant" and
    "5" means "very pleasant." Which tool is La Quinta most
    likely using for brand positioning?

    A)customer value maps
    B)positioning statements
    C)perceptual maps
    D)semantic scales
    D)semantic scales
    (this multiple choice question has been scrambled)
  3. A
    customer value map enables marketers to track how customers view a product
    based on ________ and ________.

    A)quality; price
    B)cost; features
    C)branding; perception
    D)attributes; loyalty
    A)quality; price
    (this multiple choice question has been scrambled)
  4. A
    ________ should express the unique characteristics of a brand in order to
    create positive associations in customers' minds.

    A)vision statement
    B)differentiation statement
    C)mission statement
    D)positioning statement
    D)positioning statement
    (this multiple choice question has been scrambled)
  5. According
    to Alan Andreasen, the market research process should begin by ________.

    A)specifying a research plan
    B)drafting the eventual report
    C)determining needed data
    D)searching for comparable data
    B)drafting the eventual report
    (this multiple choice question has been scrambled)
  6. What
    is the most common form of causal research?

    A)online surveys
    B)interviews
    C)experiments
    D)questionnaires
    C)experiments
    (this multiple choice question has been scrambled)
  7. Data
    collected through UPC codes at retail stores is most likely ________.

    A)causal research
    B)descriptive research
    C)syndicated research
    D)qualitative research
    C)syndicated research
    (this multiple choice question has been scrambled)
  8. Which
    market analysis method is able to identify the value that different segments
    place on different product attributes?

    A)scanner data
    B)panel data
    C)conjoint analysis
    D)experiments
    C)conjoint analysis
    (this multiple choice question has been scrambled)
  9. Which
    term refers to nonfuctional elements of a product such as package shape,
    design, and color?

    A)logo
    B)identity
    C)trademark
    D)trade dress
    D)trade dress
    (this multiple choice question has been scrambled)
  10. Brand
    ________ answers the questions, "What should my brand stand for?"

    A)positioning
    B)symbolism
    C)personality
    D)architecture
    A)positioning
    (this multiple choice question has been scrambled)
  11. According
    to the text, which brand building element is the most important?

    A)social phenomena
    B)service and distribution
    C)promotional methods
    D)product and design
    D)product and design
    (this multiple choice question has been scrambled)
  12. Hierarchical
    models for measuring brand strength enable marketers to ________.

    A)strengthen brand heritage
    B)determine the financial value of a brand
    C)assess marketing mix investments
    D)communicate a consistent brand image
    C)assess marketing mix investments
    (this multiple choice question has been scrambled)
  13. Which
    phase of the new product development process specifies the target market and
    estimates production costs?

    A)prototype and market testing
    B)concept development
    C)business analysis
    D)idea selection
    B)concept development
    (this multiple choice question has been scrambled)
  14. Product
    improvements, product modifications, and original products can all be
    classified as ________.

    A)product concepts
    B)pioneer products
    C)new products
    D)exploratory products
    C)new products
    (this multiple choice question has been scrambled)
  15. Which
    of the following would best enable a marketer to measure the utility a customer
    attaches to a new product's features?

    A)Kano model
    B)SWOT analysis
    C)virtual reality test
    D)conjoint analysis
    D)conjoint analysis
    (this multiple choice question has been scrambled)
  16. Modern
    views of product design assert that the process should be ________.

    A)aesthetic
    B)holistic
    C)technical
    D)functional
    B)holistic
    (this multiple choice question has been scrambled)
  17. In
    terms of marketing strategy, an innovation is defined by ________.

    A)technological advancements
    B)disruptions in consumer price points
    C)changes in consumption patterns
    D)shifts in market segments
    C)changes in consumption patterns
    (this multiple choice question has been scrambled)
  18. The
    behaviors, knowledge, and equipment needed to use a product are known as
    ________.

    A)adaptive tools
    B)relative qualities
    C)consumption patterns
    D)process innovations
    C)consumption patterns
    (this multiple choice question has been scrambled)
  19. Which
    of the following requires substantial changes in consumption patterns?

    A)incremental innovations
    B)discontinuous innovations
    C)dynamically discontinuous innovations
    D)continuous innovations
    B)discontinuous innovations
    (this multiple choice question has been scrambled)
  20. In
    a customer value frontier, products in the ________ quadrant would most likely
    be considered innovations.

    A)southeast
    B)southwest
    C)northeast
    D)northwest
    A)southeast
  21. The
    speed at which a truly new product spreads through a market is known as the
    ________.

    A)branding process
    B)diffusion of innovations
    C)adoption process
    D)continuity of innovations
    B)diffusion of innovations
    (this multiple choice question has been scrambled)
  22. Which
    of the following questions would LEAST likely be answered by the BCG matrix?

    A)How strong is the product in the market?
    B)How attractive is the market?
    C)How loyal are customers in the market?
    D)How strong is the SBU in the market?
    C)How loyal are customers in the market?
    (this multiple choice question has been scrambled)
  23. The
    BCG matrix uses ________ as the only variable for determining attractiveness.

    A)market segment size
    B)market growth rate
    C)brand loyalty ratios
    D)product awareness
    B)market growth rate
    (this multiple choice question has been scrambled)
  24. Which
    of the following is a true statement about the BCG matrix?

    A)Dogs typically have fluctuating cash flow.
    B)Stars require only minimal investment.
    C)Cash cows require no investment.
    D)Question marks typically have negative cash flow.
    D)Question marks typically have negative cash flow.
    (this multiple choice question has been scrambled)
  25. Based
    on the BCG matrix, which of the following is NOT necessarily a characteristic
    of a well-managed portfolio?

    A)balanced cash flow 
    B)products in each stage of the product life cycle
    C)balanced risk
    D)business units in each quadrant
    B)products in each stage of the product life cycle
    (this multiple choice question has been scrambled)
  26. According
    to the text, the BCG matrix should be used to ________.

    A)guide strategic discussions
    B)formulate strategic decisions
    C)generate innovations
    D)plan the marketing mix
    A)guide strategic discussions
    (this multiple choice question has been scrambled)
  27. What
    is the main difference between the BCG Matrix and the GE/McKinsey Grid?

    A)The BCG Matrix evaluates strategic business units, and the GE/McKinsey Grid
    B)The GE/McKinsey Grid uses a higher number of variables than the BCG Matrix.
    C)The GE/McKinsey Grid relies more heavily on market attractiveness than the BCG
    Matrix.
    D)The BCG Matrix generates more specific strategic guidelines than the
    GE/McKinsey Grid.
    B)The GE/McKinsey Grid uses a higher number of variables than the BCG Matrix.
    (this multiple choice question has been scrambled)
  28. When
    using the GE/McKinsey Grid, the first step is to ________.

    A)define and weight business strength markers
    B)evaluate each product's market attractiveness
    C)define and weigh market attractiveness markers
    D)evaluate each SBU's business strength
    • define
    • and weigh market attractiveness markers
  29. Which
    of the following is a common marker of market attractiveness?

    A)brand awareness
    B)competitive intensity
    C)market share
    D)marketing capabilities
    B)competitive intensity
    (this multiple choice question has been scrambled)
  30. Which
    of the following is NOT a type of pricing objective?

    A)survival
    B)elasticity
    C)product positioning
    D)market skimming
    B)elasticity
    (this multiple choice question has been scrambled)
  31. A
    firm sets high prices for a product innovation and lowers the price as the
    product moves into other stages of the product life cycle. The firm is most
    likely using a pricing strategy of ________.

    A)market skimming
    B)product positioning
    C)market penetration
    D)maximum current profit
    A)market skimming
    (this multiple choice question has been scrambled)
  32. An
    advertisement for Discount Tire states, "We match all competitors'
    prices." This is most likely an example of ________.

    A)collusion
    B)signaling
    C)penetration
    D)skimming
    B)signaling
    (this multiple choice question has been scrambled)
  33. Which
    of the following is best for the success of a skimming strategy?

    A)high price sensitivity
    B)high investments in capacity
    C)high market-entry barriers
    D)high economies of scale
    C)high market-entry barriers
    (this multiple choice question has been scrambled)
  34. A
    marketer would most likely use a penetration pricing strategy to ________.

    A)ensure that the firm can increase prices once demand decreases
    B)gain long-term advantages of scale
    C)appeal to customers with low price sensitivity
    D)minimize the risk of substitution
    B)gain long-term advantages of scale
    (this multiple choice question has been scrambled)
  35. Car
    rental agencies charge low prices to customers who book a car months in advance
    and high prices to customers who book a car one day in advance. Which tactic is
    most likely being used by car rental agencies?

    A)market penetration
    B)complementary pricing
    C)yield management
    D)prestige pricing
    C)yield management
    (this multiple choice question has been scrambled)
  36. Management of a company that adheres to the
    principle of integrated marketing communications is most likely to believe
    which of the following?

    A)The use of multiple marketing delivery methods is advantageous.
    B)Long-term relationships with customers are best nurtured through sales
    promotion.
    C)Long-term relationships with customers are best nurtured through public
    relations.
    D)Short-term relationships with customers are more profitable than long-term
    relationships with customers.
    A)The use of multiple marketing delivery methods is advantageous.
  37. Which
    term refers to a marketer's ability to catalogue the members of a target market
    segment?

    A)specificity
    B)customization
    C)addressability
    D)diverting
    C)addressability
    (this multiple choice question has been scrambled)
  38. A
    marketer would most likely use an FCB Grid to ________.

    A)understand consumer motivation
    B)identify market segments with unmet needs
    C)determine the ROI of a marketing campaign
    D)evaluate the firm's SBUs
    A)understand consumer motivation
    (this multiple choice question has been scrambled)
  39. Which
    of the following would a firm most likely hire as a logistics supplier?

    A)3PL
    B)SKU
    C)middleman
    D)jobber
    A)3PL
    (this multiple choice question has been scrambled)
  40. What
    is the most significant problem associated with a multiple channel distribution
    system?

    A)inadequate distribution intensity
    B)unclear channel ownership
    C)channel conflict
    D)channel functionality
    C)channel conflict
    (this multiple choice question has been scrambled)
  41. Different,
    complementary functions are delivered to the same customers through different,
    parallel channels in a(n) ________ distribution system.

    A)multiple-channel
    B)arms-length
    C)independent
    D)hybrid
    D)hybrid
    (this multiple choice question has been scrambled)
  42. Which
    sales forecasting method is most appropriate for industrial products?

    A)expert opinions
    B)time-series analyses
    C)market tests
    D)customer surveys
    D)customer surveys
    (this multiple choice question has been scrambled)
  43. Which
    method of determining a marketing budget relies primarily on the previous year's
    budget?

    A)bottom-up budgeting
    B)percentage of profits
    C)extrapolation
    D)target costing
    C)extrapolation
    (this multiple choice question has been scrambled)
  44. Which
    of the following is a semi-fixed marketing cost?

    A)promotions
    B)discounts
    C)public relations
    D)marketing research
    C)public relations
    (this multiple choice question has been scrambled)
  45. Which
    complex budgeting method requires a breakdown of all specific marketing
    expenses?

    A)bottom-up budgeting
    B)target costing
    C)percentage of sales
    D)extrapolation
    A)bottom-up budgeting
    (this multiple choice question has been scrambled)
  46. The
    Net Marketing Contribution framework would most likely be used by a marketer to
    ________.

    A)estimate shifts in market share
    B)increase economies of scale
    C)identify ways to increase profits
    D)calculate marketing costs
    C)identify ways to increase profits
    (this multiple choice question has been scrambled)
  47. A
    staircase analysis is a tool used by marketers to ________.

    A)analyze strategic business units
    B)create innovative products
    C)develop specific objectives
    D)assess competitors' strengths
    C)develop specific objectives
    (this multiple choice question has been scrambled)
  48. What
    is the most narrow category of a staircase analysis?

    A)satisfied customers
    B)repeat customers
    C)cross selling
    D)purchase rate
    C)cross selling
    (this multiple choice question has been scrambled)
  49. Aided
    recall and unaided recall are methods for measuring ________.

    A)brand awareness
    B)brand loyalty
    C)share of wallet
    D)market potential
    A)brand awareness
    (this multiple choice question has been scrambled)
  50. How
    should a marketer interpret a big difference between unaided and aided recall
    in a staircase analysis?

    A)The brand is weak in its product category.
    B)Consumers buy the product based on price.
    C)Consumers wait for promotions to buy the product.
    D)The brand is unattractive to many consumers.
    A)The brand is weak in its product category.
    (this multiple choice question has been scrambled)
  51. Which
    term refers to the amount of business a firm receives from a customer?

    A)market share
    B)purchase rate
    C)cross buying
    D)share of wallet
    D)share of wallet
    (this multiple choice question has been scrambled)
  52. A
    firm is most likely using ________ when it identifies and corrects a marketing
    problem in order to obtain forecasted results.

    A)premise control
    B)progress control
    C)staircase analysis
    D)SWOT analysis
    B)progress control
    (this multiple choice question has been scrambled)
  53. Which
    of the following involves testing and questioning the values, assumptions,
    policies, and strategies of a specific marketing mix?

    A)premise control
    B)progress control
    C)staircase analysis
    D)SWOT analysis
    A)premise control
    (this multiple choice question has been scrambled)
  54. Which
    type of financial ratio measures the extent that a firm generates value for
    shareholders?

    A)debt ratio
    C)liquidity ratio
    D)dividend ratio
    D)dividend ratio
  55. A
    firm's ability to meet all interest payments and fixed-charge obligations would
    best be measured with a ________ ratio.

    A)profitability
    B)liquidity
    C)debt
    D)activity
    C)debt
    (this multiple choice question has been scrambled)
  56. The
    primary purpose of using marketing metrics is to ________.

    A)evaluate the assumptions underlying a marketing plan
    B)correct problems with the marketing strategy
    C)identify the performance of a business unit
    D)determine what factors drive a firm's performance
    D)determine what factors drive a firm's performance
    (this multiple choice question has been scrambled)
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262553
Card Set
Marketing - Notes 28-37
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Marketing
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