MKT 100 Week 6 Exam / MKT100 Week 6 Exam ( 4 Versions, New, 2020): Principles of Marketing: Strayer University (100% Correct)(SATISFACTION GUARANTEED, Check REVIEWS of my 1000 Plus Clients) - $20.49   Add to cart

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MKT 100 Week 6 Exam / MKT100 Week 6 Exam ( 4 Versions, New, 2020): Principles of Marketing: Strayer University (100% Correct)(SATISFACTION GUARANTEED, Check REVIEWS of my 1000 Plus Clients)

Question 1 5 out of 5 points Fundamentally, the best marketers at any company put themselves in the place of their _____. Selected Answer: B. Customers Correct Answer: B. Customers Question 2 5 out of 5 points What is one of the largest factors stressing out marketers at companies these days? Selected Answer: C. the pressure to show results Correct Answer: C. the pressure to show results Question 3 5 out of 5 points What is the best way for a business to stay 5 steps ahead of the competition? Selected Answer: B. remain customer centric Correct Answer: B. remain customer centric Question 4 5 out of 5 points If you ask the average person, “What is marketing?” one of the things you might hear is: Selected Answer: A. Marketing is sales and advertising Correct Answer: A. Marketing is sales and advertising Question 5 5 out of 5 points What is the result a company sees from happier customers due to marketing? Selected Answer: C. It is more profitable Correct Answer: C. It is more profitable Question 6 5 out of 5 points During the ____ phase of the purchase process, the potential customer identifies that something is lacking. Selected Answer: B. pre-purchase Correct Answer: B. pre-purchase Question 7 5 out of 5 points Why is Chrysler’s Imported from Detroit trademarked? Selected Answer: D. the slogan is well associated to Chrysler’s brand Correct Answer: D. the slogan is well associated to Chrysler’s brand Question 8 5 out of 5 points During the purchase phase for a new car, Larry creates a _____ that includes Chrysler 300 and Toyota Avalon, but does not include Hyundai Azera. Selected Answer: C. consideration set Correct Answer: C. consideration set Question 9 5 out of 5 points If a company wants a customer to have a higher motivation to learn more about their products, they should do what? Selected Answer: A. create customer involvement Correct Answer: A. create customer involvement Question 10 5 out of 5 points What are a mix of beliefs and importance weights? Selected Answer: D. attitudes Correct Answer: D. attitudes Question 11 5 out of 5 points As segments increase in size, it becomes _______ to satisfy them with the same product. Selected Answer: A. more difficult Correct Answer: A. more difficult Question 12 5 out of 5 points Empty nesters tend to start dreaming of spending their greater discretionary income on ____. Selected Answer: D. travel and hobbies Correct Answer: D. travel and hobbies Question 13 5 out of 5 points Considering a continuum from “mass marketing” to “one-to-one marketing,” market segmentation is ________. Selected Answer: C. in the middle Correct Answer: C. in the middle Question 14 5 out of 5 points __________ means that each customer serves as his or her own segment. This approach sounds appealing from the customer point of view because the product would be tailored specially for each person’s idiosyncratic desires. Selected Answer: B. One-to-one marketing Correct Answer: B. One-to-one marketing Question 15 5 out of 5 points _______ is a type of segmentation in which the company strategically focuses on targeting a smaller market with particular needs that the company can serve well. Selected Answer: C. Niche marketing Correct Answer: C. Niche marketing Question 16 5 out of 5 points The more precisely defined the target market is, the _____ the numbers are to estimate. Selected Answer: D. Easier Correct Answer: D. Easier Question 17 5 out of 5 points Fiat Chrysler is developing a marketing strategy for a new hybrid car and just discovered that their biggest competitor is launching a very similar product at almost exactly the same time. In a SWOT analysis, the competitor’s product would be a (n) _____. Selected Answer: D. Threat Correct Answer: D. Threat Question 18 5 out of 5 points A company tries to serve the segments whose needs match their _______, and in doing so hope to make very happy and loyal customers who will be very profitable. Selected Answer: A. abilities to deliver/delight Correct Answer: A. abilities to deliver/delight Question 19 5 out of 5 points Determining which segments to target for firms depends on an interplay between ______ issues. Selected Answer: A. quantitative and strategic Correct Answer: A. quantitative and strategic Question 20 5 out of 5 points Which of the following is true about our company based on this perceptual map? Selected Answer: A. We dominate competitor 3 on quality. Correct Answer: A. We dominate competitor 3 on quality. Question 21 5 out of 5 points Marketers and senior managers like to see graphical depictions of where their brands are, and where their competitors are in the minds of their customers. What are these called? Selected Answer: B. perceptual maps Correct Answer: B. perceptual maps Question 22 5 out of 5 points Operational excellence refers to companies that ________. Selected Answer: A. are good at production, delivery, price, and convenience Correct Answer: A. are good at production, delivery, price, and convenience Question 23 5 out of 5 points To write a positioning statement, you should answer all of the following questions EXCEPT: Selected Answer: D. What are your weaknesses? Correct Answer: D. What are your weaknesses? Question 24 5 out of 5 points Product leadership refers to companies that ______. Selected Answer: C. pride themselves on quality and innovation Correct Answer: C. pride themselves on quality and innovation Question 25 5 out of 5 points The positioning statement can serve as an internal memorandum keeping all managers aligned as a basic guiding principle in all their collective decisions, so as to enhance the likelihood of ______ in the results of those decisions. Selected Answer: B. Consistencies Correct Answer: B. Consistencies Question 26 5 out of 5 points Beta company makes items you typically see in a sports store. If they sell golf balls, which of the following would be expansion in the breadth direction? Selected Answer: C. soccer balls Correct Answer: C. soccer balls Question 27 5 out of 5 points A __________ is the general term used to describe both goods and services. Selected Answer: B. Product Correct Answer: B. Product Question 28 5 out of 5 points Which of the following are pure goods? Selected Answer: B. Apple MacBook Correct Answer: B. Apple MacBook Question 29 5 out of 5 points Alpha company makes items you typically see in a drug store. If they make toothpaste, which of the following would be expansion in the depth direction? Selected Answer: B. Floss Correct Answer: B. Floss Question 30 5 out of 5 points The central element of what is purchased is called the “core,” and anything bought on top of that is called what? Selected Answer: C. value added Correct Answer: C. value added Question 31 0 out of 5 points Scott, a young professional, buys a new BMW, even though a Ford would have cost him less. Scott values the BMW brand. This is an example of _____. Selected Answer: A. a status symbol Correct Answer: C. paying a premium price Question 32 5 out of 5 points Which is an example of co-branding? Selected Answer: D. Brembo brakes are in Aston Martins Correct Answer: D. Brembo brakes are in Aston Martins Question 33 0 out of 5 points Which is not an example of brand extensions? Selected Answer: C. QuickBooks has its basic software, a version for Macs, another for small business needs, and premier packets for professionals, nonprofits, retailers Correct Answer: B. Chrysler advertises it’s vehicles have Bluetooth Question 34 5 out of 5 points A brand name whose image is waning is less of a liability in which approach? Selected Answer: C. house of brands Correct Answer: C. house of brands Question 35 5 out of 5 points Brand 123 has customers in many countries purchasing its bicycles, but its managers are unsure if the brand is truly a “global brand.” What percent of a global brand’s revenue should come from other countries? Selected Answer: B. 30% Correct Answer: B. 30% Question 36 5 out of 5 points At which stage in the new product development process does the company have a number of ideas that it thinks might work, and gets customers’ feedback as to which ideas sound most promising? Selected Answer: B. concept testing Correct Answer: B. concept testing Question 37 5 out of 5 points If a company wants to be innovative, which strategy are they most likely to use? Selected Answer: B. product development Correct Answer: B. product development Question 38 5 out of 5 points What term refers to the group of people who are the most risk averse, skeptical of new products, and stereotypically lower in income? Selected Answer: D. laggards Correct Answer: D. laggards Question 39 5 out of 5 points During ____________, a new product (good or service) is brought into the marketplace with heavy marketing spending. Selected Answer: B. market introduction Correct Answer: B. market introduction Question 40 0 out of 5 points In which phase of the Product Life Cycle is customer awareness getting stronger, and there may be some buzz in the marketplace? Selected Answer: B. Decline Correct Answer: C. market growth User Course Principles of Marketing Test Click here to begin the exam (200 pts) Started 7/25/16 12:36 AM Submitted 7/25/16 1:09 AM Due Date 8/15/16 9:00 AM Status Completed Attempt Score 200 out of 200 points Time Elapsed 32 minutes out of 2 hours Results Displayed Submitted Answers, Correct Answers, Feedback • Question 1 5 out of 5 points A ____ item is something that is purchased without much thought before the purchase. Selected Answer: C. Convenience Correct Answer: C. Convenience • Question 2 5 out of 5 points Operant conditioning is based on _____. Selected Answer: C. positive reinforcement Correct Answer: C. positive reinforcement • Question 3 5 out of 5 points Which phase of the vehicle purchase process generates word of mouth? Selected Answer: D. post-purchase Correct Answer: D. post-purchase • Question 4 5 out of 5 points A straight rebuy, like when the office needs more paper, is common for ____ customers. Selected Answer: A. B2B Correct Answer: A. B2B • Question 5 5 out of 5 points What are a mix of beliefs and importance weights? Selected Answer: D. attitudes Correct Answer: D. attitudes • Question 6 5 out of 5 points What term refers to the group of people who are the most risk averse, skeptical of new products, and stereotypically lower in income? Selected Answer: D. laggards Correct Answer: D. laggards • Question 7 5 out of 5 points What growth strategy combines new markets and new products? Selected Answer: D. diversification Correct Answer: D. diversification • Question 8 5 out of 5 points Hannah and Ellen rely on consistent messages received via word of mouth, and are older and more conservative than other customers of Product X. Hannah and Ellen most likely fall into which of the following categories? Selected Answer: A. late majority Correct Answer: A. late majority • Question 9 5 out of 5 points The stage of the Product Life Cycle where sales and profits drop and new products replace older generations is called ___________. Selected Answer: C. decline. Correct Answer: C. decline. • Question 10 5 out of 5 points If a company wants to be innovative, which strategy are they most likely to use? Selected Answer: B. product development Correct Answer: B. product development • Question 11 5 out of 5 points A company tries to serve the segments whose needs match their _______, and in doing so hope to make very happy and loyal customers who will be very profitable. Selected Answer: A. abilities to deliver/delight Correct Answer: A. abilities to deliver/delight • Question 12 5 out of 5 points What are two perspectives a business can use in assessing each segment's attractiveness in terms of its potential for targeting? Selected Answer: B. profitability and strategic fit Correct Answer: B. profitability and strategic fit • Question 13 5 out of 5 points Fiat Chrysler is developing a marketing strategy for a new hybrid car and just discovered that their biggest competitor is launching a very similar product at almost exactly the same time. In a SWOT analysis, the competitor’s product would be a (n) _____. Selected Answer: D. Threat Correct Answer: D. Threat • Question 14 5 out of 5 points Brands and products have perceived strengths, and marketing departments need to consider what they can do to assure that these will be sustainable _____. Selected Answer: C. competitive advantages Correct Answer: C. competitive advantages • Question 15 5 out of 5 points A form of comparative analysis where customers show their opinions of another firm’s strengths vis-à-vis their competitors is a ______. Selected Answer: A. perceptual map Correct Answer: A. perceptual map • Question 16 5 out of 5 points To write a positioning statement, you should answer all of the following questions EXCEPT: Selected Answer: D. What are your weaknesses? Correct Answer: D. What are your weaknesses? • Question 17 5 out of 5 points Marketers and senior managers like to see graphical depictions of where their brands are, and where their competitors are in the minds of their customers. What are these called? Selected Answer: B. perceptual maps Correct Answer: B. perceptual maps • Question 18 5 out of 5 points A firm’s positioning statement should address their target segment. Anything else they’ll say in the positioning statement will have _______ meaning to customers who are not in that segment. Selected Answer: B. No Correct Answer: B. No • Question 19 5 out of 5 points Target is most known for which of the following? Selected Answer: C. Value Correct Answer: C. Value • Question 20 5 out of 5 points The positioning statement can serve as an internal memorandum keeping all managers aligned as a basic guiding principle in all their collective decisions, so as to enhance the likelihood of ______ in the results of those decisions. Selected Answer: B. Consistencies Correct Answer: B. Consistencies • Question 21 5 out of 5 points Empty nesters tend to start dreaming of spending their greater discretionary income on ____. Selected Answer: D. travel and hobbies Correct Answer: D. travel and hobbies • Question 22 5 out of 5 points Instead of trying to appeal to the entire marketplace, smart marketers and smart companies will try to find out ______. Selected Answer: B. which customers might like their product, and how to get the product into their hands Correct Answer: B. which customers might like their product, and how to get the product into their hands • Question 23 5 out of 5 points _______ means that all customers are treated the same. This approach might sound attractive because it simplifies the marketing task, but it is usually unrealistic because customers differ. Selected Answer: D. Mass marketing Correct Answer: D. Mass marketing • Question 24 5 out of 5 points __________ means that each customer serves as his or her own segment. This approach sounds appealing from the customer point of view because the product would be tailored specially for each person’s idiosyncratic desires. Selected Answer: B. One-to-one marketing Correct Answer: B. One-to-one marketing • Question 25 5 out of 5 points As segments increase in size, it becomes _______ to satisfy them with the same product. Selected Answer: A. more difficult Correct Answer: A. more difficult • Question 26 5 out of 5 points Scott, a young professional, buys a new BMW, even though a Ford would have cost him less. Scott values the BMW brand. This is an example of _____. Selected Answer: C. paying a premium price Correct Answer: C. paying a premium price • Question 27 5 out of 5 points Harley Davidson user groups are an example of _____. Selected Answer: A. a brand community Correct Answer: A. a brand community • Question 28 5 out of 5 points A brand name whose image is waning is less of a liability in which approach? Selected Answer: C. house of brands Correct Answer: C. house of brands • Question 29 5 out of 5 points Which is not an example of brand extensions? Selected Answer: B. Chrysler advertises it’s vehicles have Bluetooth Correct Answer: B. Chrysler advertises it’s vehicles have Bluetooth • Question 30 5 out of 5 points One way marketers get customers to relate to brands is by creating a brand _______, such as Apple’s classification as “exciting” or how Gillette is action oriented. Selected Answer: C. Personality Correct Answer: C. Personality • Question 31 5 out of 5 points Fundamentally, the best marketers at any company put themselves in the place of their _____. Selected Answer: B. Customers Correct Answer: B. Customers • Question 32 5 out of 5 points If you ask the average person, “What is marketing?” one of the things you might hear is: Selected Answer: A. Marketing is sales and advertising Correct Answer: A. Marketing is sales and advertising • Question 33 5 out of 5 points What is one of the largest factors stressing out marketers at companies these days? Selected Answer: C. the pressure to show results Correct Answer: C. the pressure to show results • Question 34 5 out of 5 points Due to marketing’s success in business, what do management gurus think about marketing’s role in a company? Selected Answer: C. that it’s not just a function anymore Correct Answer: C. that it’s not just a function anymore • Question 35 5 out of 5 points A company’s marketing executives should assess the _____ in terms of a general analysis of a business problem or opportunity the company is facing. Selected Answer: B. 5Cs Correct Answer: B. 5Cs • Question 36 5 out of 5 points Alpha company makes items you typically see in a drug store. If they make toothpaste, which of the following would be expansion in the depth direction? Selected Answer: B. Floss Correct Answer: B. Floss • Question 37 5 out of 5 points A _____ is comprised of several product lines that can vary in breadth and depth. Selected Answer: A. product mix Correct Answer: A. product mix • Question 38 5 out of 5 points Marianne is shopping for a new Apple Watch. Which of the 4Ps is most central to her purchase? Selected Answer: D. Product Correct Answer: D. Product • Question 39 5 out of 5 points What does good variability consists of? Selected Answer: B. The customization and tailoring of the service delivery for the customer’s unique needs. Correct Answer: B. The customization and tailoring of the service delivery for the customer’s unique needs. • Question 40 5 out of 5 points _______ are mostly comprised of experience and credence qualities. Selected Answer: B. Services Correct Answer: B. Services Monday, July 25, 2016 1:09:27 AM EDT Course Principles of Marketing Test Click here to begin the exam (200 pts) Started 9/1/16 2:27 PM Submitted 9/1/16 3:14 PM Due Date 9/5/16 9:00 AM Status Completed Attempt Score 195 out of 200 points Time Elapsed 47 minutes out of 2 hours Results Displayed Submitted Answers, Correct Answers, Feedback • Question 1 0 out of 5 points Operant conditioning is based on _____. Selected Answer: A. Rewards Correct Answer: C. positive reinforcement • Question 2 5 out of 5 points Why is Chrysler’s Imported from Detroit trademarked? Selected Answer: D. the slogan is well associated to Chrysler’s brand Correct Answer: D. the slogan is well associated to Chrysler’s brand • Question 3 5 out of 5 points What is a classic marketing exercise that is used to declare that one’s own product is superior to the market leader? Selected Answer: B. blind taste tests Correct Answer: B. blind taste tests • Question 4 5 out of 5 points Customer involvement is ____ on a B2C specialty purchase. Selected Answer: D. High Correct Answer: D. High • Question 5 5 out of 5 points A straight rebuy, like when the office needs more paper, is common for ____ customers. Selected Answer: A. B2B Correct Answer: A. B2B • Question 6 5 out of 5 points At which stage in the new product development process does the company have a number of ideas that it thinks might work, and gets customers’ feedback as to which ideas sound most promising? Selected Answer: B. concept testing Correct Answer: B. concept testing • Question 7 5 out of 5 points Hannah and Ellen rely on consistent messages received via word of mouth, and are older and more conservative than other customers of Product X. Hannah and Ellen most likely fall into which of the following categories? Selected Answer: A. late majority Correct Answer: A. late majority • Question 8 5 out of 5 points The stage of the Product Life Cycle where sales and profits drop and new products replace older generations is called ___________. Selected Answer: C. decline. Correct Answer: C. decline. • Question 9 5 out of 5 points During ____________, a new product (good or service) is brought into the marketplace with heavy marketing spending. Selected Answer: B. market introduction Correct Answer: B. market introduction • Question 10 5 out of 5 points The __________ are a group of approximately 10-15% of the population who is so influential that the loss of one of these customers costs the firm more than the loss of later adopters. Selected Answer: D. early adopters Correct Answer: D. early adopters • Question 11 5 out of 5 points _______ is a type of segmentation in which the company strategically focuses on targeting a smaller market with particular needs that the company can serve well. Selected Answer: C. Niche marketing Correct Answer: C. Niche marketing • Question 12 5 out of 5 points Newlyweds are most likely to spend money on which of the following? Selected Answer: B. Furniture Correct Answer: B. Furniture • Question 13 5 out of 5 points Considering a continuum from “mass marketing” to “one-to-one marketing,” market segmentation is ________. Selected Answer: C. in the middle Correct Answer: C. in the middle • Question 14 5 out of 5 points The ideal goal for the marketer is to find a(n) ________ group of customers whose needs they can easily and profitably meet. Selected Answer: C. Untapped Correct Answer: C. Untapped • Question 15 5 out of 5 points Empty nesters tend to start dreaming of spending their greater discretionary income on ____. Selected Answer: D. travel and hobbies Correct Answer: D. travel and hobbies • Question 16 5 out of 5 points Potential strategic fit is a function of all of the following EXCEPT: Selected Answer: D. product prices Correct Answer: D. product prices • Question 17 5 out of 5 points Determining which segments to target for firms depends on an interplay between ______ issues. Selected Answer: A. quantitative and strategic Correct Answer: A. quantitative and strategic • Question 18 5 out of 5 points Brands and products have perceived strengths, and marketing departments need to consider what they can do to assure that these will be sustainable _____. Selected Answer: C. competitive advantages Correct Answer: C. competitive advantages • Question 19 5 out of 5 points Which of the following is true about our company based on this perceptual map? Selected Answer: A. We dominate competitor 3 on quality. Correct Answer: A. We dominate competitor 3 on quality. • Question 20 5 out of 5 points What are two perspectives a business can use in assessing each segment's attractiveness in terms of its potential for targeting? Selected Answer: B. profitability and strategic fit Correct Answer: B. profitability and strategic fit • Question 21 5 out of 5 points What is the result a company sees from happier customers due to marketing? Selected Answer: C. It is more profitable Correct Answer: C. It is more profitable • Question 22 5 out of 5 points Which of the following is NOT part of the 5Cs? Selected Answer: C. Corporation Correct Answer: C. Corporation • Question 23 5 out of 5 points _____ and _____ are the central players in the marketing exchange. Selected Answer: D. Customer, company Correct Answer: D. Customer, company • Question 24 5 out of 5 points The 4Ps include all of the following EXCEPT: Selected Answer: A. Positioning Correct Answer: A. Positioning • Question 25 5 out of 5 points What is one of the largest factors stressing out marketers at companies these days? Selected Answer: C. the pressure to show results Correct Answer: C. the pressure to show results • Question 26 5 out of 5 points Which is not an example of brand extensions? Selected Answer: B. Chrysler advertises it’s vehicles have Bluetooth Correct Answer: B. Chrysler advertises it’s vehicles have Bluetooth • Question 27 5 out of 5 points Scott, a young professional, buys a new BMW, even though a Ford would have cost him less. Scott values the BMW brand. This is an example of _____. Selected Answer: C. paying a premium price Correct Answer: C. paying a premium price • Question 28 5 out of 5 points Which branding approach provides stronger financial outcomes to the company? Selected Answer: A. umbrella approach Correct Answer: A. umbrella approach • Question 29 5 out of 5 points Harley Davidson user groups are an example of _____. Selected Answer: A. a brand community Correct Answer: A. a brand community • Question 30 5 out of 5 points Why can a store brand offer decent quality for lower prices? Selected Answer: C. lower advertising costs because they can advertise for free in the store Correct Answer: C. lower advertising costs because they can advertise for free in the store • Question 31 5 out of 5 points The central element of what is purchased is called the “core,” and anything bought on top of that is called what? Selected Answer: C. value added Correct Answer: C. value added • Question 32 5 out of 5 points An example of a tangible purchase is _______. Selected Answer: D. Laptop computer Correct Answer: D. Laptop computer • Question 33 5 out of 5 points _______ are mostly comprised of experience and credence qualities. Selected Answer: B. Services Correct Answer: B. Services • Question 34 5 out of 5 points As Chris arrives at the airport, he decides that instead of waiting in line to check-in he will use the automated check-in kiosk. He types in the information requested by the kiosk and his boarding pass is printed within seconds. What does this exemplify the growing trend of? Selected Answer: B. self-service. Correct Answer: B. self-service. • Question 35 5 out of 5 points Beta company makes items you typically see in a sports store. If they sell golf balls, which of the following would be expansion in the breadth direction? Selected Answer: C. soccer balls Correct Answer: C. soccer balls • Question 36 5 out of 5 points Target is most known for which of the following? Selected Answer: C. Value Correct Answer: C. Value • Question 37 5 out of 5 points To write a positioning statement, you should answer all of the following questions EXCEPT: Selected Answer: D. What are your weaknesses? Correct Answer: D. What are your weaknesses? • Question 38 5 out of 5 points Jen is developing the positioning statement for a brand. In a meeting, the marketing team tells Jen that she has succinctly and clearly expressed the competitive advantage of the new brand. The team approves of the way Jen wants to express the brand’s competitive advantage, and tells her to continue her work on fully developing the positioning statement. Which element of crafting the positioning statement has Jen’s team just approved? Selected Answer: D. unique selling proposition Correct Answer: D. unique selling proposition • Question 39 5 out of 5 points Marketers and senior managers like to see graphical depictions of where their brands are, and where their competitors are in the minds of their customers. What are these called? Selected Answer: B. perceptual maps Correct Answer: B. perceptual maps • Question 40 5 out of 5 points A firm’s positioning statement should address their target segment. Anything else they’ll say in the positioning statement will have _______ meaning to customers who are not in that segment. Selected Answer: B. No Correct Answer: B. No • Question 1 5 out of 5 points What are two perspectives a business can use in assessing each segment's attractiveness in terms of its potential for targeting? Selected Answer: B. profitability and strategic fit Correct Answer: B. profitability and strategic fit • Question 2 5 out of 5 points Determining which segments to target for firms depends on an interplay between ______ issues. Selected Answer: A. quantitative and strategic Correct Answer: A. quantitative and strategic • Question 3 5 out of 5 points Fiat Chrysler is developing a marketing strategy for a new hybrid car and just discovered that their biggest competitor is launching a very similar product at almost exactly the same time. In a SWOT analysis, the competitor’s product would be a (n) _____. Selected Answer: D. Threat Correct Answer: D. Threat • Question 4 5 out of 5 points A form of comparative analysis where customers show their opinions of another firm’s strengths vis-à-vis their competitors is a ______. Selected Answer: A. perceptual map Correct Answer: A. perceptual map • Question 5 5 out of 5 points Which of the following is true about our company based on this perceptual map? Selected Answer: A. We dominate competitor 3 on quality. Correct Answer: A. We dominate competitor 3 on quality. • Question 6 5 out of 5 points A straight rebuy, like when the office needs more paper, is common for ____ customers. Selected Answer: A. B2B Correct Answer: A. B2B • Question 7 0 out of 5 points Why is Chrysler’s Imported from Detroit trademarked? Selected Answer: A. it creates customer involvement Correct Answer: D. the slogan is well associated to Chrysler’s brand • Question 8 5 out of 5 points What is a classic marketing exercise that is used to declare that one’s own product is superior to the market leader? Selected Answer: B. blind taste tests Correct Answer: B. blind taste tests • Question 9 5 out of 5 points During the ____ phase of the purchase process, the potential customer identifies that something is lacking. Selected Answer: B. pre-purchase Correct Answer: B. pre-purchase • Question 10 5 out of 5 points During the purchase phase for a new car, Larry creates a _____ that includes Chrysler 300 and Toyota Avalon, but does not include Hyundai Azera. Selected Answer: C. consideration set Correct Answer: C. consideration set • Question 11 5 out of 5 points Which is an example of co-branding? Selected Answer: D. Brembo brakes are in Aston Martins Correct Answer: D. Brembo brakes are in Aston Martins • Question 12 5 out of 5 points Brand 123 has customers in many countries purchasing its bicycles, but its managers are unsure if the brand is truly a “global brand.” What percent of a global brand’s revenue should come from other countries? Selected Answer: B. 30% Correct Answer: B. 30% • Question 13 5 out of 5 points Harley Davidson user groups are an example of _____. Selected Answer: A. a brand community Correct Answer: A. a brand community • Question 14 5 out of 5 points Why can a store brand offer decent quality for lower prices? Selected Answer: C. lower advertising costs because they can advertise for free in the store Correct Answer: C. lower advertising costs because they can advertise for free in the store • Question 15 5 out of 5 points Which branding approach provides stronger financial outcomes to the company? Selected Answer: A. umbrella approach Correct Answer: A. umbrella approach • Question 16 5 out of 5 points What is the best way for a business to stay 5 steps ahead of the competition? Selected Answer: B. remain customer centric Correct Answer: B. remain customer centric • Question 17 5 out of 5 points If companies are good and if they’re lucky, the exchange continues iterating between the customer and the company, ___________ the tie between them. Selected Answer: A. Strengthening Correct Answer: A. Strengthening • Question 18 5 out of 5 points Which of the following is NOT part of the 5Cs? Selected Answer: C. Corporation Correct Answer: C. Corporation • Question 19 5 out of 5 points Fundamentally, the best marketers at any company put themselves in the place of their _____. Selected Answer: B. Customers Correct Answer: B. Customers • Question 20 5 out of 5 points _____ and _____ are the central players in the marketing exchange. Selected Answer: D. Customer, company Correct Answer: D. Customer, company • Question 21 5 out of 5 points __________ means that each customer serves as his or her own segment. This approach sounds appealing from the customer point of view because the product would be tailored specially for each person’s idiosyncratic desires. Selected Answer: B. One-to-one marketing Correct Answer: B. One-to-one marketing • Question 22 5 out of 5 points Considering a continuum from “mass marketing” to “one-to-one marketing,” market segmentation is ________. Selected Answer: C. in the middle Correct Answer: C. in the middle • Question 23 5 out of 5 points As segments increase in size, it becomes _______ to satisfy them with the same product. Selected Answer: A. more difficult Correct Answer: A. more difficult • Question 24 5 out of 5 points Newlyweds are most likely to spend money on which of the following? Selected Answer: B. Furniture Correct Answer: B. Furniture • Question 25 5 out of 5 points _______ is a type of segmentation in which the company strategically focuses on targeting a smaller market with particular needs that the company can serve well. Selected Answer: C. Niche marketing Correct Answer: C. Niche marketing • Question 26 5 out of 5 points The __________ are a group of approximately 10-15% of the population who is so influential that the loss of one of these customers costs the firm more than the loss of later adopters. Selected Answer: D. early adopters Correct Answer: D. early adopters • Question 27 0 out of 5 points A product has more competition during the __________ stage than in any other stage in its life cycle. Selected Answer: B. market growth Correct Answer: A. market maturity • Question 28 5 out of 5 points Hannah and Ellen rely on consistent messages received via word of mouth, and are older and more conservative than other customers of Product X. Hannah and Ellen most likely fall into which of the following categories? Selected Answer: A. late majority Correct Answer: A. late majority • Question 29 5 out of 5 points The stage of the Product Life Cycle where sales and profits drop and new products replace older generations is called ___________. Selected Answer: C. decline. Correct Answer: C. decline. • Question 30 0 out of 5 points At which stage in the new product development process does the company have a number of ideas that it thinks might work, and gets customers’ feedback as to which ideas sound most promising? Selected Answer: A. test marketing Correct Answer: B. concept testing • Question 31 5 out of 5 points To write a positioning statement, you should answer all of the following questions EXCEPT: Selected Answer: D. What are your weaknesses? Correct Answer: D. What are your weaknesses? • Question 32 5 out of 5 points The positioning statement can serve as an internal memorandum keeping all managers aligned as a basic guiding principle in all their collective decisions, so as to enhance the likelihood of ______ in the results of those decisions. Selected Answer: B. Consistencies Correct Answer: B. Consistencies • Question 33 5 out of 5 points Product leadership refers to companies that ______. Selected Answer: C. pride themselves on quality and innovation Correct Answer: C. pride themselves on quality and innovation • Question 34 0 out of 5 points Dom is reviewing a perceptual map that compares a number of brands based on customer survey data. Five of the eight brands are depicted as points close together on the map. A logical conclusion Dom can draw from this perceptual map is ________. Selected Answer: A. three brands are well positioned as being diverse from all other brands Correct Answer: B. the five brands are viewed as most interchangeable by consumers • Question 35 5 out of 5 points Marketers and senior managers like to see graphical depictions of where their brands are, and where their competitors are in the minds of their customers. What are these called? Selected Answer: B. perceptual maps Correct Answer: B. perceptual maps • Question 36 5 out of 5 points The color of a new vehicle is an example of a ______ quality. Selected Answer: C. Search Correct Answer: C. Search • Question 37 5 out of 5 points Which of the following are pure goods? Selected Answer: B. Apple MacBook Correct Answer: B. Apple MacBook • Question 38 0 out of 5 points Beta company makes items you typically see in a sports store. If they sell golf balls, which of the following would be expansion in the breadth direction? Selected Answer: B. golf clubs Correct Answer: C. soccer balls • Question 39 5 out of 5 points Marianne is shopping for a new Apple Watch. Which of the 4Ps is most central to her purchase? Selected Answer: D. Product Correct Answer: D. Product • Question 40 5 out of 5 points As Chris arrives at the airport, he decides that instead of waiting in line to check-in he will use the automated check-in kiosk. He types in the information requested by the kiosk and his boarding pass is printed within seconds. What does this exemplify the growing trend of? Selected Answer: B. self-service. Correct Answer: B. self-service. Strayer MKT 100 Week 6 Exam 1 Question 1 5 out of 5 points _______ means that all customers are treated the same. This approach might sound attractive because it simplifies the marketing task, but it is usually unrealistic because customers differ. Answer Selected Answer: D. Mass marketing Correct Answer: D. Mass marketing Question 2 5 out of 5 points A company is interested in better understanding how different groups of customers feel about its products. In order to do this, the company will need to _____. Answer Selected Answer: B. segment the market Correct Answer: B. segment the market Question 3 5 out of 5 points Instead of trying to appeal to the entire marketplace, smart marketers and smart companies will try to find out ______. Answer Selected Answer: B. which customers might like their product, and how to get the product into their hands Correct Answer: B. which customers might like their product, and how to get the product into their hands Question 4 5 out of 5 points __________ means that each customer serves as his or her own segment. This approach sounds appealing from the customer point of view because the product would be tailored specially for each person’s idiosyncratic desires. Answer Selected Answer: B. One-to-one marketing Correct Answer: B. One-to-one marketing Question 5 5 out of 5 points As segments increase in size, it becomes _______ to satisfy them with the same product. Answer Selected Answer: A. more difficult Correct Answer: A. more difficult Question 6 5 out of 5 points In which phase of the Product Life Cycle is customer awareness getting stronger, and there may be some buzz in the marketplace? Answer Selected Answer: C. market growth Correct Answer: C. market growth Question 7 5 out of 5 points The __________ are a group of approximately 10-15% of the population who is so influential that the loss of one of these customers costs the firm more than the loss of later adopters. Answer Selected Answer: D. early adopters Correct Answer: D. early adopters Question 8 5 out of 5 points The stage of the Product Life Cycle where sales and profits drop and new products replace older generations is called ___________. Answer Selected Answer: C. decline. Correct Answer: C. decline. Question 9 5 out of 5 points What growth strategy combines new markets and new products? Answer Selected Answer: D. diversification Correct Answer: D. diversification Question 10 5 out of 5 points If a company wants to be innovative, which strategy are they most likely to use? Answer Selected Answer: B. product development Correct Answer: B. product development Question 11 5 out of 5 points To write a positioning statement, you should answer all of the following questions EXCEPT: Answer Selected Answer: D. What are your weaknesses? Correct Answer: D. What are your weaknesses? Question 12 5 out of 5 points The positioning statement can serve as an internal memorandum keeping all managers aligned as a basic guiding principle in all their collective decisions, so as to enhance the likelihood of ______ in the results of those decisions. Answer Selected Answer: B. Consistencies Correct Answer: B. Consistencies Question 13 5 out of 5 points Marketers and senior managers like to see graphical depictions of where their brands are, and where their competitors are in the minds of their customers. What are these called? Answer Selected Answer: B. perceptual maps Correct Answer: B. perceptual maps Question 14 0 out of 5 points Target is most known for which of the following? Answer Selected Answer: A. Safety Correct Answer: C. Value Question 15 5 out of 5 points Operational excellence refers to companies that ________. Answer Selected Answer: A. are good at production, delivery, price, and convenience Correct Answer: A. are good at production, delivery, price, and convenience Question 16 5 out of 5 points What is a classic marketing exercise that is used to declare that one’s own product is superior to the market leader? Answer Selected Answer: B. blind taste tests Correct Answer: B. blind taste tests Question 17 5 out of 5 points Customer involvement is ____ on a B2C specialty purchase. Answer Selected Answer: D. High Correct Answer: D. High Question 18 5 out of 5 points Which phase of the vehicle purchase process generates word of mouth? Answer Selected Answer: D. post-purchase Correct Answer: D. post-purchase Question 19 5 out of 5 points If a company wants a customer to have a higher motivation to learn more about their products, they should do what? Answer Selected Answer: A. create customer involvement Correct Answer: A. create customer involvement Question 20 5 out of 5 points A ____ item is something that is purchased without much thought before the purchase. Answer Selected Answer: C. Convenience Correct Answer: C. Convenience Question 21 5 out of 5 points Harley Davidson user groups are an example of _____. Answer Selected Answer: A. a brand community Correct Answer: A. a brand community Question 22 5 out of 5 points A brand name whose image is waning is less of a liability in which approach? Answer Selected Answer: C. house of brands Correct Answer: C. house of brands Question 23 5 out of 5 points One way marketers get customers to relate to brands is by creating a brand _______, such as Apple’s classification as “exciting” or how Gillette is action oriented. Answer Selected Answer: C. Personality Correct Answer: C. Personality Question 24 5 out of 5 points Which is not an example of brand extensions? Answer Selected Answer: B. Chrysler advertises it’s vehicles have Bluetooth Correct Answer: B. Chrysler advertises it’s vehicles have Bluetooth Question 25 0 out of 5 points Brand 123 has customers in many countries purchasing its bicycles, but its managers are unsure if the brand is truly a “global brand.” What percent of a global brand’s revenue should come from other countries? Answer Selected Answer: C. 40% Correct Answer: B. 30% Question 26 5 out of 5 points _______ are mostly comprised of experience and credence qualities. Answer Selected Answer: B. Services Correct Answer: B. Services Question 27 0 out of 5 points _______ attributes are those that require some trial or consumption before evaluation. Answer Selected Answer: A. Search Correct Answer: D. Experience Question 28 5 out of 5 points Marianne is shopping for a new Apple Watch. Which of the 4Ps is most central to her purchase? Answer Selected Answer: D. Product Correct Answer: D. Product Question 29 5 out of 5 points Which of the following are pure goods? Answer Selected Answer: B. Apple MacBook Correct Answer: B. Apple MacBook Question 30 5 out of 5 points A __________ is the general term used to describe both goods and services. Answer Selected Answer: B. Product Correct Answer: B. Product Question 31 5 out of 5 points Most firms advertising's goal is to enhance _____. Answer Selected Answer: A. Brand Image Correct Answer: A. Brand Image Question 32 0 out of 5 points What is the best way for a business to stay 5 steps ahead of the competition? Answer Selected Answer: D. study the competition Correct Answer: B. remain customer centric Question 33 5 out of 5 points If companies are good and if they’re lucky, the exchange continues iterating between the customer and the company, ___________ the tie between them. Answer Selected Answer: A. Strengthening Correct Answer: A. Strengthening Question 34 5 out of 5 points If you ask the average person, “What is marketing?” one of the things you might hear is: Answer Selected Answer: A. Marketing is sales and advertising Correct Answer: A. Marketing is sales and advertising Question 35 5 out of 5 points What can be marketed? Answer Selected Answer: C. just about anything Correct Answer: C. just about anything Question 36 0 out of 5 points What are two perspectives a business can use in assessing each segment's attractiveness in terms of its potential for targeting? Answer Selected Answer: D. marketability and positioning Correct Answer: B. profitability and strategic fit Question 37 5 out of 5 points Determining which segments to target for firms depends on an interplay between ______ issues. Answer Selected Answer: A. quantitative and strategic Correct Answer: A. quantitative and strategic Question 38 5 out of 5 points Which of the following is true about our company based on this perceptual map? Answer Selected Answer: A. We dominate competitor 3 on quality. Correct Answer: A. We dominate competitor 3 on quality. Question 39 5 out of 5 points Fiat Chrysler is developing a marketing strategy for a new hybrid car and just discovered that their biggest competitor is launching a very similar product at almost exactly the same time. In a SWOT analysis, the competitor’s product would be a (n) _____. Answer Selected Answer: D. Threat Correct Answer: D. Threat Question 40 5 out of 5 points A company tries to serve the segments whose needs match their _______, and in doing so hope to make very happy and loyal customers who will be very profitable. Answer Selected Answer: A. abilities to deliver/delight Correct Answer: A. abilities to deliver/delight MKT 100 Week 6 Exam 1 (200 pts) • Question 1 5 out of 5 points As Chris arrives at the airport, he decides that instead of waiting in line to check-in he will use the automated check-in kiosk. He types in the information requested by the kiosk and his boarding pass is printed within seconds. What does this exemplify the growing trend of? Selected Answer: B. self-service. Correct Answer: B. self-service. • Question 2 5 out of 5 points The central element of what is purchased is called the “core,” and anything bought on top of that is called what? Selected Answer: C. value added Correct Answer: C. value added • Question 3 5 out of 5 points The color of a new vehicle is an example of a ______ quality. Selected Answer: C. Search Correct Answer: C. Search • Question 4 5 out of 5 points Alpha company makes items you typically see in a drug store. If they make toothpaste, which of the following would be expansion in the depth direction? Selected Answer: B. Floss Correct Answer: B. Floss • Question 5 5 out of 5 points Which of the following are pure goods? Selected Answer: B. Apple MacBook Correct Answer: B. Apple MacBook • Question 6 5 out of 5 points The positioning statement can serve as an internal memorandum keeping all managers aligned as a basic guiding principle in all their collective decisions, so as to enhance the likelihood of ______ in the results of those decisions. Selected Answer: B. Consistencies Correct Answer: B. Consistencies • Question 7 5 out of 5 points Marketers and senior managers like to see graphical depictions of where their brands are, and where their competitors are in the minds of their customers. What are these called? Selected Answer: B. perceptual maps Correct Answer: B. perceptual maps • Question 8 5 out of 5 points Jen is developing the positioning statement for a brand. In a meeting, the marketing team tells Jen that she has succinctly and clearly expressed the competitive advantage of the new brand. The team approves of the way Jen wants to express the brand’s competitive advantage, and tells her to continue her work on fully developing the positioning statement. Which element of crafting the positioning statement has Jen’s team just approved? Selected Answer: D. unique selling proposition Correct Answer: D. unique selling proposition • Question 9 5 out of 5 points Dom is reviewing a perceptual map that compares a number of brands based on customer survey data. Five of the eight brands are depicted as points close together on the map. A logical conclusion Dom can draw from this perceptual map is ________. Selected Answer: B. the five brands are viewed as most interchangeable by consumers Correct Answer: B. the five brands are viewed as most interchangeable by consumers • Question 10 5 out of 5 points Operational excellence refers to companies that ________. Selected Answer: A. are good at production, delivery, price, and convenience Correct Answer: A. are good at production, delivery, price, and convenience • Question 11 5 out of 5 points Potential strategic fit is a function of all of the following EXCEPT: Selected Answer: D. product prices Correct Answer: D. product prices • Question 12 5 out of 5 points A company tries to serve the segments whose needs match their _______, and in doing so hope to make very happy and loyal customers who will be very profitable. Selected Answer: A. abilities to deliver/delight Correct Answer: A. abilities to deliver/delight • Question 13 5 out of 5 points Fiat Chrysler is developing a marketing strategy for a new hybrid car and just discovered that their biggest competitor is launching a very similar product at almost exactly the same time. In a SWOT analysis, the competitor’s product would be a (n) _____. Selected Answer: D. Threat Correct Answer: D. Threat • Question 14 5 out of 5 points Brands and products have perceived strengths, and marketing departments need to consider what they can do to assure that these will be sustainable _____. Selected Answer: C. competitive advantages Correct Answer: C. competitive advantages • Question 15 5 out of 5 points A form of comparative analysis where customers show their opinions of another firm’s strengths vis-à-vis their competitors is a ______. Selected Answer: A. perceptual map Correct Answer: A. perceptual map • Question 16 5 out of 5 points What are a mix of beliefs and importance weights? Selected Answer: D. attitudes Correct Answer: D. attitudes • Question 17 5 out of 5 points Which phase of the vehicle purchase process generates word of mouth? Selected Answer: D. post-purchase Correct Answer: D. post-purchase • Question 18 5 out of 5 points If a company wants a customer to have a higher motivation to learn more about their products, they should do what? Selected Answer: A. create customer involvement Correct Answer: A. create customer involvement • Question 19 5 out of 5 points Why is Chrysler’s Imported from Detroit trademarked? Selected Answer: D. the slogan is well associated to Chrysler’s brand Correct Answer: D. the slogan is well associated to Chrysler’s brand • Question 20 5 out of 5 points A straight rebuy, like when the office needs more paper, is common for ____ customers. Selected Answer: A. B2B Correct Answer: A. B2B • Question 21 5 out of 5 points Most firms advertising's goal is to enhance _____. Selected Answer: A. Brand Image Correct Answer: A. Brand Image • Question 22 5 out of 5 points What is the result a company sees from happier customers due to marketing? Selected Answer: C. It is more profitable Correct Answer: C. It is more profitable • Question 23 5 out of 5 points If companies are good and if they’re lucky, the exchange continues iterating between the customer and the company, ___________ the tie between them. Selected Answer: A. Strengthening Correct Answer: A. Strengthening • Question 24 5 out of 5 points Which of the following is NOT part of the 5Cs? Selected Answer: C. Corporation Correct Answer: C. Corporation • Question 25 5 out of 5 points The 4Ps include all of the following EXCEPT: Selected Answer: A. Positioning Correct Answer: A. Positioning • Question 26 0 out of 5 points Scott, a young professional, buys a new BMW, even though a Ford would have cost him less. Scott values the BMW brand. This is an example of _____. Selected Answer: B. a market segment Correct Answer: C. paying a premium price • Question 27 0 out of 5 points Which is an example of co-branding? Selected Answer: B. Nike offers golf balls as part of its golf line Correct Answer: D. Brembo brakes are in Aston Martins • Question 28 5 out of 5 points Companies build associations to their brands through _____. Selected Answer: A. classical conditioning Correct Answer: A. classical conditioning • Question 29 5 out of 5 points Which branding approach provides stronger financial outcomes to the company? Selected Answer: A. umbrella approach Correct Answer: A. umbrella approach • Question 30 5 out of 5 points Harley Davidson user groups are an example of _____. Selected Answer: A. a brand community Correct Answer: A. a brand community • Question 31 5 out of 5 points Instead of trying to appeal to the entire marketplace, smart marketers and smart companies will try to find out ______. Selected Answer: B. which customers might like their product, and how to get the product into their hands Correct Answer: B. which customers might like their product, and how to get the product into their hands • Question 32 5 out of 5 points The ideal goal for the marketer is to find a(n) ________ group of customers whose needs they can easily and profitably meet. Selected Answer: C. Untapped Correct Answer: C. Untapped • Question 33 5 out of 5 points _______ means that all customers are treated the same. This approach might sound attractive because it simplifies the marketing task, but it is usually unrealistic because customers differ. Selected Answer: D. Mass marketing Correct Answer: D. Mass marketing • Question 34 5 out of 5 points Considering a continuum from “mass marketing” to “one-to-one marketing,” market segmentation is ________. Selected Answer: C. in the middle Correct Answer: C. in the middle • Question 35 5 out of 5 points Empty nesters tend to start dreaming of spending their greater discretionary income on ____. Selected Answer: D. travel and hobbies Correct Answer: D. travel and hobbies • Question 36 5 out of 5 points What term refers to the group of people who are the most risk averse, skeptical of new products, and stereotypically lower in income? Selected Answer: D. laggards Correct Answer: D. laggards • Question 37 5 out of 5 points A product has more competition during the __________ stage than in any other stage in its life cycle. Selected Answer: A. market maturity Correct Answer: A. market maturity • Question 38 5 out of 5 points During ____________, a new product (good or service) is brought into the marketplace with heavy marketing spending. Selected Answer: B. market introduction Correct Answer: B. market introduction • Question 39 5 out of 5 points At which stage in the new product development process does the company have a number of ideas that it thinks might work, and gets customers’ feedback as to which ideas sound most promising? Selected Answer: B. concept testing Correct Answer: B. concept testing • Question 40 5 out of 5 points In which phase of the Product Life Cycle is customer awareness getting stronger, and there may be some buzz in the marketplace? Selected Answer: C. market growth Correct Answer: C. market growth • Question 1 5 out of 5 points Customer involvement is ____ on a B2C specialty purchase. Selected Answer: D. High Correct Answer: D. High • Question 2 5 out of 5 points A straight rebuy, like when the office needs more paper, is common for ____ customers. Selected Answer: A. B2B Correct Answer: A. B2B • Question 3 5 out of 5 points The different types of purchases are different because ______. Selected Answer: B. of differences in the mind of the customer Correct Answer: B. of differences in the mind of the customer • Question 4 5 out of 5 points During the ____ phase of the purchase process, the potential customer identifies that something is lacking. Selected Answer: B. pre-purchase Correct Answer: B. pre-purchase • Question 5 5 out of 5 points During the purchase phase for a new car, Larry creates a _____ that includes Chrysler 300 and Toyota Avalon, but does not include Hyundai Azera. Selected Answer: C. consideration set Correct Answer: C. consideration set • Question 6 0 out of 5 points What does good variability consists of? Selected Answer: C. A service provider representing the company. Correct Answer: B. The customization and tailoring of the service delivery for the customer’s unique needs. • Question 7 5 out of 5 points A _____ is comprised of several product lines that can vary in breadth and depth. Selected Answer: A. product mix Correct Answer: A. product mix • Question 8 5 out of 5 points Beta company makes items you typically see in a sports store. If they sell golf balls, which of the following would be expansion in the breadth direction? Selected Answer: C. soccer balls Correct Answer: C. soccer balls • Question 9 5 out of 5 points Marianne is shopping for a new Apple Watch. Which of the 4Ps is most central to her purchase? Selected Answer: D. Product Correct Answer: D. Product • Question 10 5 out of 5 points Alpha company makes items you typically see in a drug store. If they make toothpaste, which of the following would be expansion in the depth direction? Selected Answer: B. Floss Correct Answer: B. Floss • Question 11 5 out of 5 points Companies build associations to their brands through _____. Selected Answer: A. classical conditioning Correct Answer: A. classical conditioning • Question 12 5 out of 5 points One way marketers get customers to relate to brands is by creating a brand _______, such as Apple’s classification as “exciting” or how Gillette is action oriented. Selected Answer: C. Personality Correct Answer: C. Personality • Question 13 5 out of 5 points Which branding approach provides stronger financial outcomes to the company? Selected Answer: A. umbrella approach Correct Answer: A. umbrella approach • Question 14 5 out of 5 points A brand name whose image is waning is less of a liability in which approach? Selected Answer: C. house of brands Correct Answer: C. house of brands • Question 15 5 out of 5 points Why can a store brand offer decent quality for lower prices? Selected Answer: C. lower advertising costs because they can advertise for free in the store Correct Answer: C. lower advertising costs because they can advertise for free in the store • Question 16 5 out of 5 points Jen is developing the positioning statement for a brand. In a meeting, the marketing team tells Jen that she has succinctly and clearly expressed the competitive advantage of the new brand. The team approves of the way Jen wants to express the brand’s competitive advantage, and tells her to continue her work on fully developing the positioning statement. Which element of crafting the positioning statement has Jen’s team just approved? Selected Answer: D. unique selling proposition Correct Answer: D. unique selling proposition • Question 17 5 out of 5 points A firm’s positioning statement should address their target segment. Anything else they’ll say in the positioning statement will have _______ meaning to customers who are not in that segment. Selected Answer: B. No Correct Answer: B. No • Question 18 0 out of 5 points Target is most known for which of the following? Selected Answer: B. Extravagance Correct Answer: C. Value • Question 19 5 out of 5 points Marketers and senior managers like to see graphical depictions of where their brands are, and where their competitors are in the minds of their customers. What are these called? Selected Answer: B. perceptual maps Correct Answer: B. perceptual maps • Question 20 5 out of 5 points Product leadership refers to companies that ______. Selec

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