EXAM 2 & 3 MCMILLAN COB 300D
QUESTIONS & CORRECT ANSWERS
Utilizing a single marketing mix to reach a uniform (everyone in the market is viewed as the
same) target market defines what targeting strategy?
-Undifferentiated
-Behavioral
-Differentiated
-Psychographic
-Concentrated - correct answer ✔✔Undifferentiated
Where might the term 'evoked set' or "consideration set' come into use within the field of
marketing?
-During construction of a BCG (Boston Consulting Group) matrix
-During the consumer buying decision process
-During consideration of using a diversification strategy
-When using Maslow's hierarchy of needs
-When using the time ERA's to define a product approach - correct answer ✔✔During the
consumer buying decision process
If Tovota has fixed costs of $ 100.000.000 for the manufacture of its Prius and sells the car for
$20,000 with 10% of the sales price taken away by the independent dealer, what is the
breakeven point for the Toyota Prius?
-15 million dollars
-5,555 cars
-55 million dollars
,-5.556 cars
-5.555.55 cars - correct answer ✔✔-5.555.55 cars
What percentage market share seems reasonable and most likely for a company to have within
their market? (which answer is the most realistic market share shown)
-Apple has 90 % of the global smartphone market
-Honda has 70% of the luxury car market worldwide
-Ford has 18% of the domestic vehicle market
-Facebook has 99 % of the global social media market
-Kellogg's has 2 % of the breakfast cereal market - correct answer ✔✔-Ford has 18% of the
domestic vehicle market
Which branding strategy would involve hiding the identity of the manufacturer which is actually
making the product being branded by a retailer or wholesaler.
-Brand extension
-Mixed branding
-Co-branding
-Family branding
-Multiproduct branding - correct answer ✔✔-Mixed branding
What is the forth stage of the product adoption process?
-Late Majority
-Trial
-Evaluation
-Free Samples
-Interest - correct answer ✔✔-Trial
,Which of the following is the best example of a nondurable good?
-Laundry detergent
-Automobile
-Shoes
-Laser Surgery
-iPad - correct answer ✔✔-Laundry detergent
A basic test of the usefulness of the market segmentation process is whether it leads to tangible
marketing actions that can
-stand up to ethical scrutiny
-create a new product
-create innovation
-create a market
-increase sales and profitability for the company using it - correct answer ✔✔-increase sales
and profitability for the company using it
When considering global business, which is considered as a licensing agreement?
-Boeing makes parts for other aircraft companies in the USA.
-Toyota has manufacturing facilities that they own in Kentucky by which they manufacture
vehicles.
-Exxon and BP join together to form another company which will run seismic data in the search
for oil.
-Tide is a brand of Proctor and Gamble or P&G via license.
-Yoplait yogurt grants a USA manufacturer the right to produce their yogurt in the USA. - correct
answer ✔✔-Yoplait yogurt grants a USA manufacturer the right to produce their yogurt in the
USA.
To be identified as a market segment, its members must
, -have common needs and respond similarly to market actions
-have different needs and have potential for future growth
-have potential for future growth and have potential for increased profit or ROl
-represent a large share of the entire market and have critical buying power.
-have different needs and respond similarly to market actions - correct answer ✔✔-have
common needs and respond similarly to market actions
Which branding strategy is an example of Family branding?
-Duracell makes batteries for Costco under the Kirkland name
-Kroger uses its Kroger name on all of its products
-Family branding uses brand names, brand marks and brand equity on the products
-Sunbeam puts their company name on all of their products
-Nike creates brand names like Nike Vapor Fly and Air Max for their shoes - correct answer ✔✔-
Sunbeam puts their company name on all of their products
When referring to the PLC, in one word, what best explains why profits peak in late growth
while sales peak in maturity?
-markets
-sales
-profits
-margins
-segments - correct answer ✔✔-margins
A different market segment usually requires a different marketing action that in turn means
greater costs. If increased revenues don't offset extra costs of this action, a marketer should
____ to reduce the number of marketing actions. Select the best answer given the situation.
-family brand their products
-discontinue offering the good or service
QUESTIONS & CORRECT ANSWERS
Utilizing a single marketing mix to reach a uniform (everyone in the market is viewed as the
same) target market defines what targeting strategy?
-Undifferentiated
-Behavioral
-Differentiated
-Psychographic
-Concentrated - correct answer ✔✔Undifferentiated
Where might the term 'evoked set' or "consideration set' come into use within the field of
marketing?
-During construction of a BCG (Boston Consulting Group) matrix
-During the consumer buying decision process
-During consideration of using a diversification strategy
-When using Maslow's hierarchy of needs
-When using the time ERA's to define a product approach - correct answer ✔✔During the
consumer buying decision process
If Tovota has fixed costs of $ 100.000.000 for the manufacture of its Prius and sells the car for
$20,000 with 10% of the sales price taken away by the independent dealer, what is the
breakeven point for the Toyota Prius?
-15 million dollars
-5,555 cars
-55 million dollars
,-5.556 cars
-5.555.55 cars - correct answer ✔✔-5.555.55 cars
What percentage market share seems reasonable and most likely for a company to have within
their market? (which answer is the most realistic market share shown)
-Apple has 90 % of the global smartphone market
-Honda has 70% of the luxury car market worldwide
-Ford has 18% of the domestic vehicle market
-Facebook has 99 % of the global social media market
-Kellogg's has 2 % of the breakfast cereal market - correct answer ✔✔-Ford has 18% of the
domestic vehicle market
Which branding strategy would involve hiding the identity of the manufacturer which is actually
making the product being branded by a retailer or wholesaler.
-Brand extension
-Mixed branding
-Co-branding
-Family branding
-Multiproduct branding - correct answer ✔✔-Mixed branding
What is the forth stage of the product adoption process?
-Late Majority
-Trial
-Evaluation
-Free Samples
-Interest - correct answer ✔✔-Trial
,Which of the following is the best example of a nondurable good?
-Laundry detergent
-Automobile
-Shoes
-Laser Surgery
-iPad - correct answer ✔✔-Laundry detergent
A basic test of the usefulness of the market segmentation process is whether it leads to tangible
marketing actions that can
-stand up to ethical scrutiny
-create a new product
-create innovation
-create a market
-increase sales and profitability for the company using it - correct answer ✔✔-increase sales
and profitability for the company using it
When considering global business, which is considered as a licensing agreement?
-Boeing makes parts for other aircraft companies in the USA.
-Toyota has manufacturing facilities that they own in Kentucky by which they manufacture
vehicles.
-Exxon and BP join together to form another company which will run seismic data in the search
for oil.
-Tide is a brand of Proctor and Gamble or P&G via license.
-Yoplait yogurt grants a USA manufacturer the right to produce their yogurt in the USA. - correct
answer ✔✔-Yoplait yogurt grants a USA manufacturer the right to produce their yogurt in the
USA.
To be identified as a market segment, its members must
, -have common needs and respond similarly to market actions
-have different needs and have potential for future growth
-have potential for future growth and have potential for increased profit or ROl
-represent a large share of the entire market and have critical buying power.
-have different needs and respond similarly to market actions - correct answer ✔✔-have
common needs and respond similarly to market actions
Which branding strategy is an example of Family branding?
-Duracell makes batteries for Costco under the Kirkland name
-Kroger uses its Kroger name on all of its products
-Family branding uses brand names, brand marks and brand equity on the products
-Sunbeam puts their company name on all of their products
-Nike creates brand names like Nike Vapor Fly and Air Max for their shoes - correct answer ✔✔-
Sunbeam puts their company name on all of their products
When referring to the PLC, in one word, what best explains why profits peak in late growth
while sales peak in maturity?
-markets
-sales
-profits
-margins
-segments - correct answer ✔✔-margins
A different market segment usually requires a different marketing action that in turn means
greater costs. If increased revenues don't offset extra costs of this action, a marketer should
____ to reduce the number of marketing actions. Select the best answer given the situation.
-family brand their products
-discontinue offering the good or service
