Conjoint studies are run to understand how consumers make

MKT 100 EXAM 2

Question 1

What term is used to describe an experiment run by an ad agency where the ad agency will recruit consumers to come watch a TV series and commercials like those for Cheerios? The consumer will then answer questions about the ads and the agency uses the responses to determine how well the ads will do in the real world.

[removed]

A.

focus groups

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B.

Sampling

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C.

copy testing

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D.

ad concept testing

Question 2

In a(n) ______, the featured brand name is mentioned, as is the brand name of a competitor.

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A.

cognitive ad

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B.

noncomparative ad

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C.

comparative ad

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D.

emotional ad

Question 3

AIDA represents attention, interest, desire and _______.

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A.

action

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B.

assessment

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C.

attitude

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D.

accountability

Question 4

If the advertising goal is to increase awareness, what type of ad should be run?

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A.

an ad with lots of humor

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B.

an ad with lots of information

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C.

an ad with a celebrity endorsement

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D.

an ad with a combination of information and action

Question 5

Saffire Clothing’s ads claim that the brand is an exclusive, premium brand. Saffire’s products need to be _______, priced relatively high, and distributed relatively exclusively.

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A.

Trendy

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B.

high quality

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C.

Stylish

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D.

well known

Question 6

Profit maximization occurs when marginal revenue equals ______.

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A.

marginal profit

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B.

marginal sale

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C.

marginal cost

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D.

none of these

Question 7

Which of the following is NOT true about the price-sensitive segment?

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A.

They are deal-prone.

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B.

They will run to competitor if we raise prices.

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C.

If prices get too high, they may completely drop out of the category.

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D.

They’ll buy our brand no matter what.

Question 8

Which of the following is NOT one of the three ways for companies to set prices?

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A.

medium prices

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B.

high prices

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C.

low prices

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D.

discretionary prices

Question 9

Which of the following is true about competitive pricing?

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A.

It is set by covering costs and then adding some margin.

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B.

It is set by covering costs only.

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C.

It is set by figuring out just how much a customer is willing to pay, and pricing near that mark.

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D.

It is at a medium level, somewhere in between extremes, using competitors’ prices as a starting point, and adjusting from there.

Question 10

If a change in price barely effects demand, that means the demand is _______.

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A.

Supplied

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B.

Inelastic

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C.

Unstable

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D.

Relative

Question 11

Typically, a focus group should include ________ customers.

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A.

2-4

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B.

4-6

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C.

more than 15

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D.

8-10

Question 12

Conjoint studies are run to understand how consumers make __________.

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A.

Money

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B.

trade-offs

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C.

Observations

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D.

Impressions

Question 13

Which of the following is NOT typically true about focus group members?

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A.

They get paid.

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B.

They share opinions about advertisements.

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C.

They are consumers.

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D.

They set aside a full day to participate in the group.

Question 14

__________ are used by companies to get a sense of how customers view a company or brand in the marketplace.

[removed]

A.

Clusters

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B.

Ads

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C.

Positioning studies

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D.

Strategic marketers

Question 15

For any ad, what is a question that needs answered?

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A.

Who is the target audience?

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B.

What is the selling price?

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C.

What is the product placement?

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D.

Who is the brand advocate?

Question 16

What is a coupon is an example of?

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A.

sponsorship

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B.

sales promotion

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C.

product placement

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D.

brand advocate

Question 17

National Electronics makes hearing aids. They created one humorous ad, and they made another ad that explained how the device will make the user’s life better. These 2 ads are an example of ____ across media and messages.

[removed]

A.

poor design

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B.

Marketing

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C.

Integration

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D.

Synergy

Question 18

Donna’s philosophy as she coordinates the marketing efforts is to keep in mind the company’s overarching strategy, and to ensure that all marketing activities send a consistent message, beginning with the communications but also including the other marketing mix elements. Based on this information, Donna is most likely a proponent of

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A.

Integrated Marketing Communications

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B.

Intended Marketing Commitments

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C.

Media Reach

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D.

Media Response

Question 19

A fairly subtle approach to advertising is _____.

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A.

product placement

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B.

television advertising

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C.

radio advertising

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D.

integrated marketing communications

Question 20

Amazon.com uses structural equivalence to do which of the following?

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A.

make product recommendations

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B.

keep credit card information secure

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C.

encourage users to write product reviews

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D.

deliver purchases

Question 21

Word of mouth feels _______ to consumers.

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A.

Boring

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B.

Phony

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C.

Annoying

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D.

Authentic

Question 22

Which of the following is the percent of sessions for which a visitor lands on the website and views only one page before quickly leaving?

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A.

Frequency

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B.

bounce rate

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C.

Duration

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D.

rejection rate

Question 23

What is the main goal for users of Facebook?

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A.

seeking jobs

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B.

getting advice from experts

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C.

sharing slices of life with friends

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D.

collaborating Wiki content

Question 24

When the decisions seem overwhelming, we should simplify and remember that the key to marketing is to think about the ___________.

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A.

sales force

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B.

bottom line

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C.

Customer

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D.

mission statement

Question 25

When a firm is coordinating the flow of all goods, services and information among channel members, and throughout the channel, it is referred to as:

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A.

supply chain management

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B.

distribution channel

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C.

Logistics

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D.

flow marketing.

Question 26

Barnes & Noble started as a retailer but then opened warehouses to stock books and later began publishing “classics” with its own imprint. This is an example of which of the following?

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A.

revenue sharing

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B.

forward integration

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C.

push marketing

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D.

backward integration

Question 27

Apple computers used to be in the business of manufacturing only, but then they opened Apple stores. This is an example of which of the following?

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A.

revenue sharing

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B.

forward integration

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C.

franchising

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D.

backward integration

Question 28

___________ strategies are incentives a manufacturer offers to its distribution partners such as dealers, wholesalers, retailers, and the like to sell products to the end users.

[removed]

A.

Pull marketing

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B.

Marketing

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C.

Promotion marketing

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D.

Push marketing

Question 29

Comparing a purchase to expectations occurs when the item purchased is comprised primarily of ________ characteristics.

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A.

customer lifetime value

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B.

search, experience, or credence

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C.

Quality

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D.

value, price, or quality

Question 30

CRM programs are tools used by companies to track spending by collecting information, such as customer identification and contact information, and some form of information on the RFM of the customers’ purchase history. What does RFM represent?

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A.

Recency Frequency Monetary

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B.

Recency Financial Monetary

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C.

Retention Frequency Memory

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D.

Retention Financial Memory

Question 31

For______ purchases like vehicles, the comparative evaluation process is typically quite deliberative and conscious.

[removed]

A.

high-involvement

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B.

Quick

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C.

low-involvement

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D.

B2B

Question 32

Susan visits the office of a local attorney to have a will drawn up. She has never hired an attorney before, but thinks that this particular attorney is doing a good job based on his professional demeanor and fancy office. Susan’s hiring of the attorney is best described as a ________ purchase.

[removed]

A.

Qualitative

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B.

Search

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C.

Experience

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D.

Credence

Question 33

A marketing plan for a company begins with an assessment of ______.

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A.

how things have progressed up to this point

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B.

where things currently stand

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C.

where we want things to go

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D.

the mission statement

Question 34

Deciding on your ideal distribution system relates to which of the 4Ps?

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A.

Product

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B.

Price

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C.

Place

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D.

Promotion

Question 35

Marketing plans are often viewed as ______.

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A.

Workbooks

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B.

carved in stone

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C.

works in progress

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D.

promotional tools

Question 36

If a company segments customers by gender, age, education, and income, then in your marketing plan, you should specify that your company bases its segmentation on __________ factors.

[removed]

A.

Demographic

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B.

Geographic

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C.

Psychological

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D.

Behavioral

Question 37

Which strategy in the Ansoff Product-Market Growth Matrix combines current markets and current products?

[removed]

A.

market development

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B.

product development

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C.

market penetration

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D.

diversify

Question 38

Looking for suppliers who are cheaper than our current ones but still high quality is an example of a way to ___________.

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A.

increase sales volume

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B.

change our prices

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C.

decrease variable costs

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D.

decrease fixed costs

Question 39

What are the two dimensions measured in the General Electric Model?

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A.

market risk and business flexibility

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B.

market flexibility and business risk

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C.

market strength and business attractiveness

[removed]

D.

market attractiveness and business strength

Question 40

Karen is working on classifying all her company’s products in terms of whether they have strong or weak market share and whether this share is in a slow or growing market. What type of strategic framework is she using?

[removed]

A.

Ansoff Product-Market Growth Matrix

[removed]

B.

BCG Matrix

[removed]

C.

The General Electric Model

[removed]

D.

Porter and Strategies