MKT 100 Midterm Exam 1 / MKT100 Midterm Exam 1 ( Version-2, New, 2020): Principles of Marketing: Strayer University (100% Correct)(SATISFACTION GUARANTEED, Check REVIEWS of my 1000 Plus Clients)

MKT 100 Exam 1 • Question 1 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 2 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 3 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 4 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 5 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 6 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 7 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 8 5 out of 5 points Target is most known for which of the following? Selected Answer: C. Value Correct Answer: C. Value • Question 9 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 10 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 11 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 12 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 13 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 14 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 15 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 16 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 17 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 _____. Selected Answer: B. segment the market Correct Answer: B. segment the market • Question 18 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 19 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 20 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 21 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 22 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 23 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 24 5 out of 5 points What growth strategy combines new markets and new products? Selected Answer: D. diversification Correct Answer: D. diversification • Question 25 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 26 5 out of 5 points An example of a tangible purchase is _______. Selected Answer: D. Laptop computer Correct Answer: D. Laptop computer • 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 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 29 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 30 5 out of 5 points _______ attributes are those that require some trial or consumption before evaluation. Selected Answer: D. Experience Correct Answer: D. Experience • Question 31 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 32 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 33 5 out of 5 points The 4Ps include all of the following EXCEPT: Selected Answer: A. Positioning Correct Answer: A. Positioning • Question 34 5 out of 5 points Most firms advertising's goal is to enhance _____. Selected Answer: A. Brand Image Correct Answer: A. Brand Image • 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 A straight rebuy, like when the office needs more paper, is common for ____ customers. Selected Answer: A. B2B Correct Answer: A. B2B • Question 37 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 38 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 39 5 out of 5 points What are a mix of beliefs and importance weights? Selected Answer: D. attitudes Correct Answer: D. attitudes • Question 40 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