McMillan COB 300D Combined Set
Questions With Reviewed Correct
Detailed Answers
New Update!!
1. 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. - ANSWER -Yoplait yogurt grants a USA manufacturer the right to
produce their yogurt in the USA.
2. 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 - ANSWER -
have common needs and respond similarly to market actions
,3. 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 -
ANSWER -Sunbeam puts their company name on all of their products
4. 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 - ANSWER -margins
5. 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
-increase the advertising budget
-combine segments
,-limit the product offerings - ANSWER -combine segments
6. General Mills different types of cereals, each targeted at a different type of
user, are an example of multiple products aimed at multiple markets.
Manufacturing these different cereals is clearly more expensive than producing
one, but seems worthwhile if it serves customers' needs better, doesn't reduce
quality or increase price, and
-decreases the cost of the physical plant
-adds to the manufacturer's sales revenues and profits
-conforms to all FDA guidelines
-creates economy of scale
-stabilizes the sales revenues and profits - ANSWER -adds to the
manufacturer's sales revenues and profits
7. Criteria for forming segments involve both similarities and differences. The
similarities must be _____ a segment, and the differences must be _____
segments.
-absent in; throughout
-throughout; absent in
-within; among the different
-outside; across
-outside; among - ANSWER -within; among the different
8. Which of the following statements demonstrates the formation of a segment
based on household size, considered as the number of people living in the home?
-GE built a downsized smaller microwave oven to heat only single servings at a
time
, -Del Monte offers a line of canned fruit with no added sugar or artificial
sweeteners
-A gourmet grocer advertises its services on a small-audience classical music
station even though there is a much larger-audience rock station in the area
-A fast food hamburger restaurant is open for breakfast on Sunday mornings but
not on weekdays.
-Campbell's makes spicier nacho cheese sauce for its distributors in Texas than it
does in Maine. - ANSWER -GE built a downsized smaller microwave oven to
heat only single servings at a time
9. In the star cell of the BCG (BOSTON CONSULTING GROUP) MATRIX, the main
objective of promotion is
-Awareness and Education
-Market share
-Differentiation
-Educate the market
-Create Awareness - ANSWER -Market share
10. The old adage "birds of a feather flock together" relates to which type of
segmentation approach used mainly by retailers and based upon where people
reside by zip code?
-Psychographic
-Demographic
-Market-dominated
-VALS
-PRIZM - ANSWER -PRIZM
Questions With Reviewed Correct
Detailed Answers
New Update!!
1. 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. - ANSWER -Yoplait yogurt grants a USA manufacturer the right to
produce their yogurt in the USA.
2. 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 - ANSWER -
have common needs and respond similarly to market actions
,3. 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 -
ANSWER -Sunbeam puts their company name on all of their products
4. 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 - ANSWER -margins
5. 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
-increase the advertising budget
-combine segments
,-limit the product offerings - ANSWER -combine segments
6. General Mills different types of cereals, each targeted at a different type of
user, are an example of multiple products aimed at multiple markets.
Manufacturing these different cereals is clearly more expensive than producing
one, but seems worthwhile if it serves customers' needs better, doesn't reduce
quality or increase price, and
-decreases the cost of the physical plant
-adds to the manufacturer's sales revenues and profits
-conforms to all FDA guidelines
-creates economy of scale
-stabilizes the sales revenues and profits - ANSWER -adds to the
manufacturer's sales revenues and profits
7. Criteria for forming segments involve both similarities and differences. The
similarities must be _____ a segment, and the differences must be _____
segments.
-absent in; throughout
-throughout; absent in
-within; among the different
-outside; across
-outside; among - ANSWER -within; among the different
8. Which of the following statements demonstrates the formation of a segment
based on household size, considered as the number of people living in the home?
-GE built a downsized smaller microwave oven to heat only single servings at a
time
, -Del Monte offers a line of canned fruit with no added sugar or artificial
sweeteners
-A gourmet grocer advertises its services on a small-audience classical music
station even though there is a much larger-audience rock station in the area
-A fast food hamburger restaurant is open for breakfast on Sunday mornings but
not on weekdays.
-Campbell's makes spicier nacho cheese sauce for its distributors in Texas than it
does in Maine. - ANSWER -GE built a downsized smaller microwave oven to
heat only single servings at a time
9. In the star cell of the BCG (BOSTON CONSULTING GROUP) MATRIX, the main
objective of promotion is
-Awareness and Education
-Market share
-Differentiation
-Educate the market
-Create Awareness - ANSWER -Market share
10. The old adage "birds of a feather flock together" relates to which type of
segmentation approach used mainly by retailers and based upon where people
reside by zip code?
-Psychographic
-Demographic
-Market-dominated
-VALS
-PRIZM - ANSWER -PRIZM
