Com 100 exam 1 answers

Question 1

Potential strategic fit is a function of all of the following EXCEPT:

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A.

firm’s strengths

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B.

firm’s resources

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C.

brand personalities

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D.

product prices

Question 2

What are two perspectives a business can use in assessing each segment's attractiveness in terms of its potential for targeting?

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A.

profitability and marketability

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B.

profitability and strategic fit

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C.

marketability and strategic fit

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D.

marketability and positioning

Question 3

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.

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A.

abilities to deliver/delight

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B.

Opportunities

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C.

financial resources

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D.

Targets

Question 4

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) _____.

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A.

Strength

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B.

Weakness

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C.

Opportunity

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D.

Threat

Question 5

A form of comparative analysis where customers show their opinions of another firm’s strengths vis-à-vis their competitors is a ______.

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A.

perceptual map

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B.

SWOT analysis

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C.

conjoint analysis

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D.

target comparison

Question 6

Which branding approach provides stronger financial outcomes to the company?

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A.

umbrella approach

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B.

house of brands

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C.

community branding

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D.

marketing approach

Question 7

Companies build associations to their brands through _____.

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A.

classical conditioning

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B.

operant conditioning

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C.

Learning

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D.

behavioral studies

Question 8

A brand name whose image is waning is less of a liability in which approach?

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A.

umbrella approach

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B.

community approach

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C.

house of brands

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D.

marketing approach

Question 9

Which is an example of co-branding?

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A.

Krispy Kreme gets a new donut flavor

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B.

Nike offers golf balls as part of its golf line

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C.

QuickBooks has its basic software, a version for Macs, another for small business needs, and premier packets for professionals, nonprofits, retailers

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D.

Brembo brakes are in Aston Martins

Question 10

One way marketers get customers to relate to brands is by creating a brand _______, such as Apple’s classification as “exciting” or how Gillette is action oriented.

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A.

Spokesperson

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B.

Image

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C.

Personality

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D.

Awareness

Question 11

A __________ is the general term used to describe both goods and services.

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A.

Price

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B.

Product

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C.

Promotion

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D.

Place

Question 12

Marianne is shopping for a new Apple Watch. Which of the 4Ps is most central to her purchase?

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A.

Price

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B.

Promotion

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C.

Place

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D.

Product

Question 13

_______ attributes are those that require some trial or consumption before evaluation.

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A.

Search

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B.

Product

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C.

Credence

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D.

Experience

Question 14

A _____ is comprised of several product lines that can vary in breadth and depth.

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A.

product mix

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B.

marketing mix

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C.

Company

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D.

Service

Question 15

What does good variability consists of?

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A.

Errors in the system, logistics, human resources and marketers want to reduce this variability.

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B.

The customization and tailoring of the service delivery for the customer’s unique needs.

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C.

A service provider representing the company.

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D.

Advancing in many industries wherein a customer interacts with technology, banking, airport check-in, etc.

Question 16

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?

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A.

late majority

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B.

early majority

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C.

laggards

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D.

innovators

Question 17

In which phase of the Product Life Cycle is customer awareness getting stronger, and there may be some buzz in the marketplace?

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A.

market introduction

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B.

Decline

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C.

market growth

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D.

Maturity

Question 18

What term refers to the group of people who are the most risk averse, skeptical of new products, and stereotypically lower in income?

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A.

early adopters

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B.

early majority

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C.

innovators

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D.

laggards

Question 19

If a company wants to be innovative, which strategy are they most likely to use?

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A.

market penetration

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B.

product development

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C.

market development

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D.

diversification

Question 20

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?

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A.

test marketing

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B.

concept testing

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C.

product development

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D.

product testing

Question 21

The different types of purchases are different because ______.

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A.

of the product itself

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B.

of differences in the mind of the customer

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C.

of customer attitudes

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D.

the price varies

Question 22

Which phase of the vehicle purchase process generates word of mouth?

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A.

customer evaluation

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B.

pre-purchase

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C.

Purchase

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D.

post-purchase

Question 23

A ____ item is something that is purchased without much thought before the purchase.

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A.

Quick

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B.

Specialty

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C.

Convenience

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D.

Shopping

Question 24

If a company wants a customer to have a higher motivation to learn more about their products, they should do what?

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A.

create customer involvement

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B.

advertise more

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C.

lower prices

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D.

increase brand awareness

Question 25

Customer involvement is ____ on a B2C specialty purchase.

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A.

Very low

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B.

Low

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C.

Medium

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D.

High

Question 26

Instead of trying to appeal to the entire marketplace, smart marketers and smart companies will try to find out ______.

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A.

what will appeal to high end customers

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B.

which customers might like their product, and how to get the product into their hands

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C.

which customers are price sensitive

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D.

which customers have brand loyalty and seek a brand image similar to other brands they like

Question 27

__________ 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.

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A.

Geographic marketing

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B.

One-to-one marketing

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C.

Mass marketing

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D.

Psychological marketing

Question 28

Newlyweds are most likely to spend money on which of the following?

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A.

charitable giving

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B.

Furniture

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C.

Music

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D.

health care

Question 29

As segments increase in size, it becomes _______ to satisfy them with the same product.

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A.

more difficult

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B.

Easier

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C.

Cheaper

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D.

more fun

Question 30

_______ means that all customers are treated the same. This approach might sound attractive because it simplifies the marketing task, but it is usually unrealistic because customers differ.

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A.

One-to-one marketing

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B.

Gender marketing

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C.

Group marketing

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D.

Mass marketing

Question 31

The 4Ps include all of the following EXCEPT:

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A.

Positioning

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B.

Price

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C.

Product

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D.

Place

Question 32

Most firms advertising's goal is to enhance _____.

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A.

Brand Image

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B.

Profit

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C.

Marketing

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D.

Purchases

Question 33

Fundamentally, the best marketers at any company put themselves in the place of their _____.

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A.

Company

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B.

Customers

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C.

Competitors

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D.

Friends

Question 34

Due to marketing’s success in business, what do management gurus think about marketing’s role in a company?

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A.

they think its role is to direct sales

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B.

it takes no special skill to be a good marketer anymore

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C.

that it’s not just a function anymore

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D.

it’s the most important aspect

Question 35

_____ and _____ are the central players in the marketing exchange.

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A.

Context, customer

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B.

Collaborator, competitor

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C.

Context, company

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D.

Customer, company

Question 36

Product leadership refers to companies that ______.

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A.

are good at production and delivery, and price and convenience

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B.

are expensive but is expected to pay off in long-term loyalty and enhanced customer lifetime value

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C.

pride themselves on quality and innovation

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D.

are willing to tailor their products to particular customer needs

Question 37

A firm’s positioning statement should address their target segment. Anything else they’ll say in the positioning statement will have _______ meaning to customers who are not in that segment.

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A.

a lot of

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B.

No

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C.

very significant

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D.

Confusing

Question 38

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.

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A.

Innovation

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B.

Consistencies

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C.

Boredom

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D.

Excitement

Question 39

Marketers and senior managers like to see graphical depictions of where their brands are, and where their competitors are in the minds of their customers. What are these called?

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A.

Histograms

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B.

perceptual maps

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C.

Genograms

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D.

opinion charts

Question 40

Operational excellence refers to companies that ________.

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A.

are good at production, delivery, price, and convenience

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B.

pride themselves on quality and innovation

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C.

are willing to tailor their products to particular customer needs

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D.

are expensive but is expected to pay off in long-term loyalty and enhanced customer lifetime value