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Principles of Marketing questions




Question;66) You have just created the "perfect" ad. It;communicates the full mix of benefits upon which the brand is differentiated;and positioned. This full positioning of the brand is called ________.;A) its value proposition;B) target marketing;C) capturing the consumers' attention;D) value profiling;E) differentiated marketing;67) The answer to the customer's question "Why should I;buy your brand?" is found in the ________.;A) quality image;B) customer services;C) value proposition;D) differentiation;E) pricing and promotion structure;68) What competitive positioning can attack a more-for-more;strategy by introducing a brand offering with comparable quality at a lower;price?;A) more-for-the-same;B) more-for-less;C) same-for-less;D) less-for-much-less;E) all-or-nothing;69) Which positioning strategy offers consumers a "good;deal" by offering equivalent-quality products or services at a lower;price?;A) more-for-the-same;B) more-for-less;C) same-for-less;D) less-for-much-less;E) all-or-nothing;70) "Less-for-much-less" positioning involves;meeting consumers' ________.;A) quality performance requirements at a lower price;B) lower quality requirements in exchange for a lower price;C) lower quality requirements at the lowest possible price;D) high quality requirements at a discounted rate;E) high quality requirements at the lower possible price;71) Few people can afford the best in everything they buy. At;times everyone needs a product with less quality or performance with a;correspondingly lower price. In this case a consumer would purchase a product;positioned with a ________ strategy.;A) more-for-the-same;B) more-for-less;C) same-for-less;D) less-for-much-less;E) all-or-nothing;72) Which difficult-to-sustain positioning strategy attempts;to deliver the "best-of-both"?;A) more-for-the-same;B) more-for-less;C) same-for-less;D) less-for-much-less;E) more-for-more;73) When it first opened for business, Home Depot claimed to;offer better products at lower prices. This hard-to-sustain value proposition;is called ________.;A) more-for-the-same;B) more-for-less;C) more-for-more;D) same-for-less;E) same-for-more;74) Which type of statement first indicates the product's;membership in a category and then shows its point-of-difference from other;members of the category?;A) mission statement;B) vision statement;C) differentiation statement;D) positioning statement;E) statement of intent;75) What is the following an example of? "To busy;mobile professionals who need to always be in the loop, BlackBerry is a;wireless connectivity solution that gives you an easier, more reliable way to;stay connected to data, people, and resources while on the go.;A) positioning statement;B) service differentiation;C) concentrated segmentation;D) competitive advantage;E) irresponsible target marketing;76) When marketers at Procter & Gamble selected the;Millennials, a demographic that includes college students, as an untapped group;of potential customers for their Febreze line of products, they were executing;which step in the process of designing a customer-driven marketing strategy?;A) market segmenting;B) mass marketing;C) differentiation;D) targeting;E) positioning;77) When Pacific Fisheries groups its customers by regions;such as Asia, Australia, or New Zealand, it is using which segmenting base?;A) economic factors;B) political and legal factors;C) geographic location;D) benefits sought;E) demographics;78) When Burger King targets children, teens, adults, and;seniors with different ads and media, it is practicing ________ segmentation.;A) user status;B) age and life-cycle;C) psychographic;D) behavioral;E) lifestyle;79) Segmenting voters as either Democrats or Republicans is;an example of ________.;A) psychographic segmentation;B) demographic segmentation;C) occasion segmentation;D) intermarket segmentation;E) A and D;80) At one time Miller Beer was known as the "champagne;of bottled beer." Unfortunately, Miller drinkers did not drink much beer.;To increase sales, Miller was repositioned to attract the members of the middle;working class. This segmentation approach is ________.;A) user status;B) usage rate;C) benefit;D) behavioral;E) psychographic;81) MTV targets the world's teenagers, who have similar needs;and buying behavior even though they are located in different countries. This;is called ________ segmentation.;A) political and legal;B) cross-cultural;C) cultural;D) intermarket;E) individual;82) An organic farmer has identified three distinct groups;who might be interested in his products: vegetarians, people who are concerned;about chemicals in their foods, and people who consider themselves innovators;and trendsetters. These three groups are examples of ________.;A) marketing mixes;B) market segments;C) product mixes;D) mass markets;E) market positions;83) A catalog retailer has identified African-American;professionals between the ages of thirty-five and forty-five as the group of;customers within the larger market that is a potential market for its products.;The retailer plans to direct its marketing efforts toward this group of;consumers. The retailer has identified a ________.;A) target market;B) marketing mix;C) product mix;D) mass market;E) market aggregation;84) Jolene Enterprises mass produces an all-purpose floor;cleaner, mass distributes it and mass promotes it. This firm uses;marketing.;A) segmented;B) undifferentiated;C) nontraditional;D) differentiated;E) mass customization;85) A marketer focuses on several commonalities among all;consumers. This marketer appears to be engaging in ________.;A) differentiated marketing;B) undifferentiated marketing;C) segmented marketing;D) concentrated marketing;E) mass customization;86) Sanguine Services is a small company that practices a;marketing strategy in which its limited resources are used to go after a large;share of two small niches. Sanguine practices which one of these strategies?;A) undifferentiated;B) differentiated;C) mass;D) concentrated;E) geographically dispersed;87) Bob and Phyllis Cords own two retail stores, one in;Pottstown and one in Norristown. Though the towns are only 40 miles apart, the;consumers at both stores are very different demographically. Bob and Phyllis;alter the product offerings between both locations in an effort to cater to;both demographic groups. This is an example of ________.;A) local marketing;B) psychographic segmentation;C) mass customization;D) demographic segmentation;E) A and C;88) Jay Bee Promotions tailors its advertising and;promotional services to the needs and preferences of individual customers.;Which of the following terms does NOT apply to this type of marketing?;A) one-to-one;B) customized;C) markets-of-one;D) concentrated;E) mass customization;89) There are several different sports watches for cyclists.;When compared to its competitors, the Bike Nashbar watch is the least;expensive. The Acumen Basic is the only one designed for older cyclists who;prefer a larger display. Sports Instrument is the most comfortable of all the;available watches. This describes the ________ of the three sports watches.;A) marketing mixes;B) mass marketing strategies;C) positions;D) consumer orientations;E) selling orientations;90) When comparing itself to its competitors, Hidden Valley;describes its Ranch dressing as the original. This is the ________ the;manufacturer has planned for the product.;A) marketing mix;B) market segment;C) position;D) services differentiation;E) channel differentiation;91) The Jay Group hires better employees than the competition;by conducting lengthy searches and interviews. Management also trains employees;much better than competitors do. The Jay Group has gained a strong competitive;advantage through which type of differentiation?;A) image;B) people;C) services;D) product;E) channel;92) Ford Motor Company emphasizes "Quality First?Ford;Tough" in its truck products. In doing so, the company has developed a;differentiation strategy based on ________.;A) people;B) image;C) products;D) services;E) positioning;93) Cheap Heaps Auto specializes in lower quality vehicles;with a few dents, that are priced a great deal lower than other used cars.;Cheap Heaps has chosen to position its products with a ________ strategy.;A) more-for-the same;B) more-for-less;C) same-for-less;D) less-for-much-less;E) A or C;94) Neiman Marcus claims superior quality, performance, and;style. The owners provide the most upscale products and services and charge a;higher price to cover the higher costs. What type of positioning does Neiman;Marcus use?;A) more-for-the-same;B) more-for-more;C) repositioning;D) the-same-for-less;E) more-for-less;95) Superior Auto Sales, a chain of high-end used car;dealerships, wants to sum up its company positioning and brand positioning in a;formal way. Superior's management would use a ________.;A) mission statement;B) vision statement;C) competitive statement;D) positioning statement;E) company statement;96) Which of the following statements illustrates why;stereotypes should be avoided when using age and life-cycle segmentation?;A) Old women love to shop, young women love it more!;B) Most 10-year-old boys are mischievous.;C) Some 70 year olds use wheelchairs, others play tennis.;D) The majority of 20 year olds have to work, the same holds;true for 30 and 40 year olds.;E) both C and D;97) Which of the following is the most logical reason for;P&G offering products that compete with one another on the same supermarket;shelves?;A) Different people want a greater selection.;B) Procter & Gamble has little competition.;C) Different people want different mixes of benefits from the;products they buy.;D) Retailers request it.;E) It creates healthy competition.;Refer to the scenario below to answer the following;questions.;Herb Marks was making wooden writing utensils as a hobby;until Mel Yoder recognized Herb's talent. Mel immediately ordered 250 pens and;pencils of various styles to be displayed in his shop's showcase. Within three;months, the writing utensils were a hit! Herb Marks had never thought of;marketing his talent, but Mel's enthusiasm and the recent sales were enough to;change his mind.;With limited resources, Herb contacted three additional;specialty shops within 100 miles. He explained his manufacturing processes and;engraving options to each. All three shops' owners placed a trial order. Within;two months, just prior to the holiday season, each shop owner placed an;additional order. Herb was ecstatic!;I figured business would slow down after that,;Herb stated, "but in February I was contacted by Elmore Distributors. At;that point, I had to make a huge decision about how far I wanted to go with;this business.;Elmore Distributors provides products for school fundraisers;in a seven-state area. Herb was offered a two-year contract and immediate;inclusion in Elmore's promotional flyer. Herb Marks accepted the offer and;along with it, the responsibility to produce thousands of wooden pens and;pencils.;I had to get a grip on the magnitude of this;project," Herb added. "I couldn't grow out of control. I was already;working to capacity.;Herb decided to place his major focus on the large contract;with Elmore. However, to avoid placing his total emphasis with one customer;Herb continued nurturing his four previously established accounts without;targeting any additional customers.;At this point, I had set up an assembly line in a;rented building," Herb explained. "I had to hire three full-time;employees to work the line while I managed the customer orders and purchased;materials." Herb paused. "But I can't take the Elmore project for granted.;It might not always be there. I'll have to have a good alternate plan if that;day comes.;98) In the scenario, how does Herb segment his market?;A) loyalty status;B) usage rate;C) income;D) geographically;E) demographically;99) In marketing his writing utensils to his four;specialty-shop customers, Herb is using ________ marketing.;A) mass;B) undifferentiated;C) niche;D) mass customization;E) individual;100) If Herb produced a variety of styles of pens and pencils;with various wood types and engravings that he tailored specifically to each;individual's order, he would be practicing ________.;A) concentrated marketing;B) local marketing;C) undifferentiated marketing;D) mass customization;E) micromarketing;101) Today, most companies have moved back toward mass;marketing and are being choosier about the customers with whom they wish to;build relationships.;102) Your company wants to move away from mass marketing and;engage in customer-driven marketing. The four steps to take, in order, are;market segmentation, marketing positioning, differentiation, and targeting.;103) Demographic segmentation can be used to divide the;market by different time periods of people's lives and different family;situations.;104) Gender segmentation has long been used in clothing;cosmetics, toiletries, and magazines.;105) Your assignment at work is to divide buyers into;different groups based on social class, lifestyle, and personality;characteristics. After a planning session with the marketing and sales staff;you issue a memo to upper management recommending psychographic segmentation.;You are right on target.;106) Research about and planning for loyalty status as a;segmentation approach is generally not useful or practical for most firms.;107) For simplicity's sake, most marketers generally limit;their segmentation analysis to one or a few variables.;108) Clusters of marketable groups of customers with similar;likes, dislikes, lifestyles, and purchase behaviors can be identified by;multivariable segmentation systems that merge and analyze geographic;demographic, lifestyle, and behavioral data.;109) There are many exceptions to the geographic segmentation;assumption that consumers in nations close to one another will have many common;behaviors and traits.;110) Because there is such variation among the economies of;countries around the world, it is not practical to segment international;markets on the basis of economic factors.;111) In evaluating different market segments, a firm should;look at three factors: segment size and growth, segment structural;attractiveness, and company objectives and resources.;112) At a recent marketing seminar, the featured speaker;stated that a target market consists of a set of buyers who share common needs;or characteristics that the company decides to serve. This is a correct;definition.;113) Developing a stronger position within several segments;creates more total sales than undifferentiated marketing across all segments.;114) Niche marketing offers smaller companies an opportunity;to compete by focusing their limited resources on serving niches that may be;unimportant to or overlooked by larger companies.;115) Though the use of mass marketing has been widespread in;the past 100 years, for centuries consumers were served as individuals as;businesses practiced individual marketing.;116) Mass marketing is becoming a marketing principle for the;21stcentury.;117) When a company chooses a target marketing strategy, its;choices are influenced by factors related to company resources, the degree of;product variability, and the product's life-cycle stage.;118) A product's position is the way the product is defined;by the retailers who sell it to target markets. It is how it is defined on;important attributes?the place the product occupies in the retailers' minds;relative to competing products.;119) Consumers position products in their minds in order to;simplify the buying process.;120) A market rarey exists for products that offer less and;therefore cost less.;121) Bombay Gifts divides its markets into units of nations;regions, and cities. Bombay uses geographic segmentation.;122) Shopping for the Rich and Famous is a buying service;that helps wealthy clients find the best buys in exclusive clothing, high-end;cars, travel, and financial services. This firm most likely uses income;segmentation.;123) LaGrange Florists segments markets into groups of;nonusers, ex-users, potential users, first-time users, and regular users of its;flowers and services. This firm uses usage rate as its segmentation approach.;124) Because Cruise Ships International currently has limited;financial and personnel resources, it should avoid concentrated or niche;marketing until its resources are again substantial.;125) Kia offers a new car model with the same features as a;comparable but higher priced Toyota or Ford and provides a longer warranty. Kia;is following a more-for-less strategy.;126) Explain the four;major steps in designing a customer-driven marketing strategy.;127) Explain the four major segmenting variables for consumer;markets.;128) Describe how marketers use multiple-segmenting bases to;their advantage.;129) Why do businesses segment their markets?;130) Why do international markets need to be segmented?;131) Imagine that you are presenting a workshop on the;Requirements for Effective Segmentation. Briefly describe the five items that;will help your audience understand your topic.;132) Explain how companies identify attractive market;segments and choose a target marketing strategy.;134) In what ways might a marketer engage in socially;responsible target marketing?;135) Explain the concept of positioning for competitive;advantage.;ny must then effectively communicate and deliver the chosen;position to the market.;136) Why do marketers segment the market?;137) When might be the best time for a marketer to use;geographic segmentation?.;138) Why might demographic segmentation be the most common;type of segmentation?.;139) Why must marketers guard against stereotypes when using;age and life-cycle segmentation?;140) If Kool-Aid promotes a year-round campaign that;Kool-Aid isn't just a summertime drink," what type of segmentation;is being used?;141) What is one way in which a marketer can attract nonloyal;consumers?;142) How might a marketer benefit from using PRIZM?;143) List three variables not applicable to the consumer;market that may be used to segment business markets.;144) What factors may impact segment attractiveness?;145) What is one major assumption made by marketers who;choose to use an undifferentiated marketing strategy?;146) XYZ Computers, Inc., a business with limited resources;is a market nicher. How might XYZ benefit from this?;147) BMW allows customers to design their own vehicle from a;set of options at BMW's Web site. What is this called?;148) Explain how market variability impacts the choice of a;target-marketing strategy.;149) Why might a marketer of laundry detergent be interested;in viewing a perceptual positioning map?;150) In what ways might a marketer be able to gain;competitive advantage through channel differentiation?


Paper#47310 | Written in 18-Jul-2015

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