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Wisconsin MKt311 exam 1




Question;Question;1(2.5 points);One of the benefits;of value-driven marketing is that attention to customer needs and wants will;likely result in;Question 1 options;strong connections among competing firms in the;marketplace.;lower prices.;increased competition.;long-term;relationships.;Question;2(2.5 points);Value-driven firms;constantly measure the __________ that customers perceive, compared to the;prices of their offerings.;Question 2 options;relationships;merchandise;benefits;information;rebates;Question;3(2.5 points);Your roommate, a non-business major;sees you reading your marketing text. He or she asks, "Why is marketing;important?" You respond by saying all of the following EXCEPT;Question 3 options;Marketers advise production on how much product;to make.;Marketers tell the logistics department when to;ship products.;Marketers engage customers and develop long-term;relationships.;Marketers identify opportunities to expand.;Marketers;are the most important profit center in any organization.;Question 4(2.5 points);Whenever Arnold calls his;insurance agent, the agent tells Arnold about new types of insurance available.;The agent is pursuing a ________________ growth strategy.;Question 4 options;market development;diversification;product proliferation;product;development;market penetration;Question;5(2.5 points);Fernando was;thrilled to find out that his company had just decided to invest a great deal;of money in the product he was managing. He knows that even with its recent;high rate of growth and the fact that it was dominating the market, he would;need more money to establish it firmly. Using the BCG portfolio analysis, his;product shares characteristics with other;Question 5 options;question marks.;cash cows.;stars.;dogs.;Question 6(2.5 points);Introducing new products or;services to a market segment the company is not currently serving is called;Question 6 options;market penetration;product development;market development;product proliferation;diversification;Save;Previous PageNext Page;Question;7(2.5 points);Quitman sells his;business language dictionary to college students throughout the United States.;He wants to sell the book to international students abroad. Quitman wants to;pursue a __________________ growth strategy.;Question 7 options;product development;diversification;market;development;product proliferation;market penetration;Question;8(2.5 points);Even when big-box discount retailers;enter a market, some small, local retailers survive and prosper. These;retailers have developed a _________________ generating long-term;profitability.;Question 8 options;successful mission-goal statements;strategic business simulation;sustainable;competitive advantage;market segmentation sufficiency;value-based customer avoidance;Question 9(2.5 points);Almost every banker thinks his or;her firm provides better service than their competitors. If this is accurate;and customers recognize it, the bank creates and delivers value through;Question 9 options;operational excellence;product excellence;customer;excellence;promotional excellence;global excellence;Save;Previous PageNext Page;Question;10(2.5 points);Which of the;following is not one of the four overarching strategies;to create and deliver value and to develop sustainable competitive advantages?;Question 10 options;Locational excellence;Product excellence;Planning;excellence;Operational excellence;Customer excellence;Question;11(2.5 points);Heather has been assessing a number;of her firm's products using the Boston Consulting Group approach to portfolio;analysis. She has been trying to assess the strength in a particular market and;is looking at the sales of the product and the overall market as well as the;sales of competitors. Heather is working on determining _________________.;Question 11 options;cash generation equivalents;relative;market share.;market growth rate;statistical census analysis;competitive advantage;Question;14(2.5 points);To determine how attractive a;particular market is in using the BCG portfolio analysis, __________________ is;established as one axis.;Question 14 options;market;growth rate;competitive intensity;profit potential;ideal market distribution;relative market share;Question;12(2.5 points);Using the BCG portfolio analysis;dogs should be phased out unless;Question 12 options;the CEO of the firm is a champion of the product.;additional resources could convert the product;into a star.;the market might rebound.;it;complements or boosts the sales of another product.;Question;13(2.5 points);Based on the BCG portfolio analysis;products in low-growth markets that have received heavy investments and now;have excess resources to spin off are;Question 13 options;Valuers;cash cows.;stars.;question marks.;dogs.;Question;15(2.5 points);Chet has been known to say, "If;you ever see me with anything other than a Coke in my hand, check my pulse. I;must be dead. " When Chet is thirsty for a soft drink, he obviously skips;the _______________ stage of the consumer decision process.;Question 15 options;evoked set determination;evaluation of alternatives;all of the;above;prepurchase evaluation;information search;Save;Question;28(2.5 points);All of the below are examples of;competitive advantage value creators except...;Question 28 options;Operational excellence;Locational;excellence;Communication excellence;Product excellence;Save;Question 29(2.5;points);Consumers consider universal;retrieval, and evoked sets during the ______________ stage of the consumer;decision process.;Question 29 options;situational factor analysis;postpurchase evaluation;information search;need recognition;evaluation;of alternatives;Save;Question 30(2.5;points);What is the marketing mix?;Question 30 options;Strategic tools available to marketers;Ways to promote customers;Mix of available marketing resources;The set of;appropriate products and services;Question 16(2.5 points);A product category is in a high;growth market. The product is also doing quite well. This is an example of a;what type of growth strategy?;Question 16 options;Star;Question mark/problem child;Cash cow;Cash;generator;Save;Previous PageNext Page;Question;18(2.5 points);Consumers, and especially younger are;using things like Facebook, Youtube, text messaging, etc. This;macro-environmental issue can be best described as....;Question 18 options;Cultural;Economic;Social;Demographic;Question;19(2.5 points);Craig sees his company's quarterly;sales and profits are significantly above projections and says, "That's;great. Let's keep doing what we are doing." Craig is suggesting they;ignore the ____________ of the marketing planning process.;Question 19 options;define the business mission.;evaluate;performance;situation analysis;implement marketing mix and resources.;identifying and evaluating opportunities.;Question;20(2.5 points);You are deciding on a very expensive;gift to buy your parents for the 50th anniversary. You are likely going to use;what type of decision rule?;Question 20 options;Compensatory;Heuristic;Disjunctive;Planned;Question;21(2.5 points);To have an ethical business climate;requires all employees to be dedicated to that goal because;Question 21 options;customers are only vaguely interested in a firm's;ethical standards.;employees have to be taught ethical standards.;managers rarely enforce values unless employees;ask them to do so.;the roots;of ethical conflict often are competing values of individuals.;employees do not have sufficient visionary scope;to understand the ramifications of unethical behavior.;Question;22(2.5 points);During research you;uncover an unmet need in the marketplace. In terms of SWOT this is a(an)...;Question 22 options;Weakness;Competitive advantage;Strength;Opportunity;Question;23(2.5 points);The Nike swoosh is;familar to people all over the world. This marketing strength is....;Question 23 options;Marketing budget;Customer loyalty;Brand;recognition;Product quality;Question;24(2.5 points);Hannah knows about;many different clothing brands. These various brands make up her...;Question 24 options;Retrieval set;Universal;set;Evoked set;Brand set;Question;25(2.5 points);Jimmy likes going;to movies and sometimes takes 30 minutes to pick the movie. This is an example;of...;Question 25 options;extensive problem solving;High;involvement decision making;Movies are low involvment;Limited problem solving;Question 26(2.5 points);You are a;buyer for a clothing line. You decide to buy from a close friend even though;you know that a competitor's line is better. This violates what ethics;category?;Question 26 options;Fairness and honesty;Communication;Conflict;of interest;Business relationships;Save;Previous PageNext Page;Question;27(2.5 points);You buy an expensive watch to wear;when you go out. What Maslow need are you likely addressing?;Question 27 options;Status;Self actualization;Socialability;Esteem;Question;17(2.5 points);Advertisers using magazine ads often;put a logo and slogan at the bottome of the page. They are most attempting to;influence...;Question 17 options;Selective;imagery;Selective perception;Selective distortion;Selective retention;Question;31(2.5 points);In a modified rebuy situation;are likely to have an advantage in acquiring the order.;Question 31 options;consumers;current;vendors;gatekeepers;buying centers;resellers;Question;32(2.5 points);Most B2B buying situations can be;categorized as new buys, modified rebuys, and;Question 32 options;significant others.;angular dilemmas.;initiator-influenced democratic decisions.;RFPs.;straight;rebuys.;Question;33(2.5 points);Compared to the B2C;process, the information search and alternative evaluation steps in the B2B;process are;Question 33 options;less focused on customer value creation.;more;formal and structured.;identical.;based on derived supply analysis.;centrally planned.;Question;38(2.5 points);MTV uses __________ segmentation to;target individuals interested in doing good deeds, and in doing so, it helps;add value without jeopardizing its financial success.;Question 38 options;altruistic;corporate social responsibility;millennial generation;lifestyle;socio-demographic;Question;34(2.5 points);Firms use a differentiated;segmentation strategy, targeting several market segments with a different;offering each, because;Question 34 options;it is easier than mass marketing.;it helps to obtain a bigger share of the market.;it is better than focusing on individual or small;groups of potential customers.;most market segments are too small to be;profitable.;banks are more willing to extend credit to;companies with this strategic approach.;Question;35(2.5 points);Marco was assigned to help create a;positioning strategy for the manufacturing firm where he works by working on;the salient attributes. He should consider;Question 35 options;the safety record of the firm and its products.;what the;target marketing would consider the most important.;the characteristics that help his firm win a;state-wide award for excellence in manufacturing.;the ways the sales representatives have been;positioning the firm against the competitors.;the features the engineers feel are most;important for the quality of the product.;Question 36(2.5 points);Almost every political candidate;uses a combination of red, white, and blue in their campaign posters. They are;trying to position themselves in voters' minds using;Question 36 options;value.;symbols.;all of the above.;the competition.;salient attributes.;Save;Previous PageNext Page;Question;37(2.5 points);Whose perceptions are being measured;in a perceptual map?;Question 37 options;Consumers;Inventors of the products or the current R&D;team;The strategic planners;A company's executive team;Competitors;Question 39(2.5 points);Marketers often race into;research studies to collect __________________ data because it is designed to;address their specific questions, while _____________ data exist, be cheaper to;access, and sufficiently address the marketer's questions.;Question 39 options;secondary, primary;syndicated, primary;structured, unstructured;ratings, unstructured;primary;secondary;Save;Previous PageNext Page;Question 40(2.5 points);The major advantage of primary;research data is;Question 40 options;it can be easily accessed through syndicated data;bases.;it can be;tailored to meet the specific research needs.;it takes less time to collect than secondary;data.;it is general enough to meet many different;researchers' needs.;all of the above are advantages of primary;research data.;Save;Previous PageNext Page


Paper#46700 | Written in 18-Jul-2015

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