Unserved
or underserved markets are referred to as ________.
A) white space
La
Quinta sends surveys to customers asking them to rate attributes of the hotel
chain from 1-to-5 where "1" means "very unpleasant" and
"5" means "very pleasant." Which tool is La Quinta most
likely using for brand positioning?
D) semantic scales
A
customer value map enables marketers to track how customers view a product
based on ________ and ________.
A) quality; price
A
________ should express the unique characteristics of a brand in order to
create positive associations in customers' minds.
B) positioning statement
According
to Alan Andreasen, the market research process should begin by ________.
A) drafting the eventual report
What
is the most common form of causal research?
B) experiments
Data
collected through UPC codes at retail stores is most likely ________.
C) syndicated research
Which
market analysis method is able to identify the value that different segments
place on different product attributes?
C) conjoint analysis
Which
term refers to nonfuctional elements of a product such as package shape,
design, and color?
C) trade dress
Brand
________ answers the questions, "What should my brand stand for?"
B) positioning
According
to the text, which brand building element is the most important?
B) product and design
Hierarchical
models for measuring brand strength enable marketers to ________.
B) assess marketing mix investments
Which
phase of the new product development process specifies the target market and
estimates production costs?
A) concept development
Product
improvements, product modifications, and original products can all be
classified as ________.
A) new products
Which
of the following would best enable a marketer to measure the utility a customer
attaches to a new product's features?
C) conjoint analysis
Modern
views of product design assert that the process should be ________.
B) holistic
In
terms of marketing strategy, an innovation is defined by ________.
A) changes in consumption patterns
The
behaviors, knowledge, and equipment needed to use a product are known as
________.
B) consumption patterns
Which
of the following requires substantial changes in consumption patterns?
B) discontinuous innovations
In
a customer value frontier, products in the ________ quadrant would most likely
be considered innovations.
A)southeast
B)southwest
C)northeast
D)northwest
A)southeast
The
speed at which a truly new product spreads through a market is known as the
________.
D) diffusion of innovations
Which
of the following questions would LEAST likely be answered by the BCG matrix?
A) How loyal are customers in the market?
The
BCG matrix uses ________ as the only variable for determining attractiveness.
D) market growth rate
Which
of the following is a true statement about the BCG matrix?
C) Question marks typically have negative cash flow.
Based
on the BCG matrix, which of the following is NOT necessarily a characteristic
of a well-managed portfolio?
D) products in each stage of the product life cycle
According
to the text, the BCG matrix should be used to ________.
A) guide strategic discussions
What
is the main difference between the BCG Matrix and the GE/McKinsey Grid?
Matrix.
D)The BCG Matrix generates more specific strategic guidelines than the
GE/McKinsey Grid.
C) The GE/McKinsey Grid uses a higher number of variables than the BCG Matrix.
When
using the GE/McKinsey Grid, the first step is to ________.
A)define and weight business strength markers
B)evaluate each product's market attractiveness
C)define and weigh market attractiveness markers
D)evaluate each SBU's business strength
define
and weigh market attractiveness markers
Which
of the following is a common marker of market attractiveness?
C) competitive intensity
Which
of the following is NOT a type of pricing objective?
D) elasticity
A
firm sets high prices for a product innovation and lowers the price as the
product moves into other stages of the product life cycle. The firm is most
likely using a pricing strategy of ________.
A) market skimming
An
advertisement for Discount Tire states, "We match all competitors'
prices." This is most likely an example of ________.
B) signaling
Which
of the following is best for the success of a skimming strategy?
B) high market-entry barriers
A
marketer would most likely use a penetration pricing strategy to ________.
C) gain long-term advantages of scale
Car
rental agencies charge low prices to customers who book a car months in advance
and high prices to customers who book a car one day in advance. Which tactic is
most likely being used by car rental agencies?
C) yield management
Management of a company that adheres to the
principle of integrated marketing communications is most likely to believe
which of the following?
A)The use of multiple marketing delivery methods is advantageous.
B)Long-term relationships with customers are best nurtured through sales
promotion.
C)Long-term relationships with customers are best nurtured through public
relations.
D)Short-term relationships with customers are more profitable than long-term
relationships with customers.
A)The use of multiple marketing delivery methods is advantageous.
Which
term refers to a marketer's ability to catalogue the members of a target market
segment?
B) addressability
A
marketer would most likely use an FCB Grid to ________.
C) understand consumer motivation
Which
of the following would a firm most likely hire as a logistics supplier?
D) 3PL
What
is the most significant problem associated with a multiple channel distribution
system?
B) channel conflict
Different,
complementary functions are delivered to the same customers through different,
parallel channels in a(n) ________ distribution system.
B) hybrid
Which
sales forecasting method is most appropriate for industrial products?
A) customer surveys
Which
method of determining a marketing budget relies primarily on the previous year's
budget?
D) extrapolation
Which
of the following is a semi-fixed marketing cost?
B) public relations
Which
complex budgeting method requires a breakdown of all specific marketing
expenses?
D) bottom-up budgeting
The
Net Marketing Contribution framework would most likely be used by a marketer to
________.
A) identify ways to increase profits
A
staircase analysis is a tool used by marketers to ________.
A) develop specific objectives
What
is the most narrow category of a staircase analysis?
A) cross selling
Aided
recall and unaided recall are methods for measuring ________.
C) brand awareness
How
should a marketer interpret a big difference between unaided and aided recall
in a staircase analysis?
D) The brand is weak in its product category.
Which
term refers to the amount of business a firm receives from a customer?
D) share of wallet
A
firm is most likely using ________ when it identifies and corrects a marketing
problem in order to obtain forecasted results.
C) progress control
Which
of the following involves testing and questioning the values, assumptions,
policies, and strategies of a specific marketing mix?
D) premise control
Which
type of financial ratio measures the extent that a firm generates value for
shareholders?
A)debt ratio
C)liquidity ratio
D)dividend ratio
D)dividend ratio
A
firm's ability to meet all interest payments and fixed-charge obligations would
best be measured with a ________ ratio.
A) debt
The
primary purpose of using marketing metrics is to ________.
A) determine what factors drive a firm's performance