EXAM 2 & 3 McMillan COB 300D | Questions with Solutions
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 - -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 - -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 - --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 - --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 - --Mixed branding
-What is the forth stage of the product adoption process?
-Late Majority
-Trial
-Evaluation
-Free Samples
,-Interest - --Trial
-Which of the following is the best example of a nondurable good?
-Laundry detergent
-Automobile
-Shoes
-Laser Surgery
-iPad - --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 - --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. - --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 - --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 - --
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 - --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
-increase the advertising budget
-combine segments
-limit the product offerings - --combine segments
-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 - --adds to the manufacturer's sales
revenues and profits
-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 - --within; among the different
-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. - --GE built a downsized smaller microwave oven to heat only single
servings at a time
-In the star cell of the BCG (BOSTON CONSULTING GROUP) MATRIX, the main
objective of promotion is
-Awareness and Education
-Market share
-Differentiation
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 - -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 - -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 - --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 - --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 - --Mixed branding
-What is the forth stage of the product adoption process?
-Late Majority
-Trial
-Evaluation
-Free Samples
,-Interest - --Trial
-Which of the following is the best example of a nondurable good?
-Laundry detergent
-Automobile
-Shoes
-Laser Surgery
-iPad - --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 - --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. - --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 - --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 - --
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 - --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
-increase the advertising budget
-combine segments
-limit the product offerings - --combine segments
-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 - --adds to the manufacturer's sales
revenues and profits
-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 - --within; among the different
-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. - --GE built a downsized smaller microwave oven to heat only single
servings at a time
-In the star cell of the BCG (BOSTON CONSULTING GROUP) MATRIX, the main
objective of promotion is
-Awareness and Education
-Market share
-Differentiation
