Marketing - Notes 28-37

  1. Unserved
    or underserved markets are referred to as ________.

    B) white space
  2. 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?

    C) semantic scales
  3. A
    customer value map enables marketers to track how customers view a product
    based on ________ and ________.

    A) quality; price
  4. A
    ________ should express the unique characteristics of a brand in order to
    create positive associations in customers' minds.

    B) positioning statement
  5. According
    to Alan Andreasen, the market research process should begin by ________.

    B) drafting the eventual report
  6. What
    is the most common form of causal research?

    C) experiments
  7. Data
    collected through UPC codes at retail stores is most likely ________.

    D) syndicated research
  8. Which
    market analysis method is able to identify the value that different segments
    place on different product attributes?

    C) conjoint analysis
  9. Which
    term refers to nonfuctional elements of a product such as package shape,
    design, and color?

    D) trade dress
  10. Brand
    ________ answers the questions, "What should my brand stand for?"

    A) positioning
  11. According
    to the text, which brand building element is the most important?

    D) product and design
  12. Hierarchical
    models for measuring brand strength enable marketers to ________.

    C) assess marketing mix investments
  13. Which
    phase of the new product development process specifies the target market and
    estimates production costs?

    B) concept development
  14. Product
    improvements, product modifications, and original products can all be
    classified as ________.

    B) new products
  15. Which
    of the following would best enable a marketer to measure the utility a customer
    attaches to a new product's features?

    D) conjoint analysis
  16. Modern
    views of product design assert that the process should be ________.

    C) holistic
  17. In
    terms of marketing strategy, an innovation is defined by ________.

    A) changes in consumption patterns
  18. The
    behaviors, knowledge, and equipment needed to use a product are known as

    D) consumption patterns
  19. Which
    of the following requires substantial changes in consumption patterns?

    A) discontinuous innovations
  20. In
    a customer value frontier, products in the ________ quadrant would most likely
    be considered innovations.

  21. The
    speed at which a truly new product spreads through a market is known as the

    B) diffusion of innovations
  22. Which
    of the following questions would LEAST likely be answered by the BCG matrix?

    D) How loyal are customers in the market?
  23. The
    BCG matrix uses ________ as the only variable for determining attractiveness.

    D) market growth rate
  24. Which
    of the following is a true statement about the BCG matrix?

    D) Question marks typically have negative cash flow.
  25. Based
    on the BCG matrix, which of the following is NOT necessarily a characteristic
    of a well-managed portfolio?

    C) products in each stage of the product life cycle
  26. According
    to the text, the BCG matrix should be used to ________.

    A) guide strategic discussions
  27. What
    is the main difference between the BCG Matrix and the GE/McKinsey Grid?

    D)The BCG Matrix generates more specific strategic guidelines than the
    GE/McKinsey Grid.
    B) The GE/McKinsey Grid uses a higher number of variables than the BCG Matrix.
  28. 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
  29. Which
    of the following is a common marker of market attractiveness?

    A) competitive intensity
  30. Which
    of the following is NOT a type of pricing objective?

    B) elasticity
  31. 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
  32. An
    advertisement for Discount Tire states, "We match all competitors'
    prices." This is most likely an example of ________.

    D) signaling
  33. Which
    of the following is best for the success of a skimming strategy?

    D) high market-entry barriers
  34. A
    marketer would most likely use a penetration pricing strategy to ________.

    B) gain long-term advantages of scale
  35. 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
  36. 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
    C)Long-term relationships with customers are best nurtured through public
    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.
  37. Which
    term refers to a marketer's ability to catalogue the members of a target market

    C) addressability
  38. A
    marketer would most likely use an FCB Grid to ________.

    D) understand consumer motivation
  39. Which
    of the following would a firm most likely hire as a logistics supplier?

    B) 3PL
  40. What
    is the most significant problem associated with a multiple channel distribution

    B) channel conflict
  41. Different,
    complementary functions are delivered to the same customers through different,
    parallel channels in a(n) ________ distribution system.

    C) hybrid
  42. Which
    sales forecasting method is most appropriate for industrial products?

    B) customer surveys
  43. Which
    method of determining a marketing budget relies primarily on the previous year's

    B) extrapolation
  44. Which
    of the following is a semi-fixed marketing cost?

    C) public relations
  45. Which
    complex budgeting method requires a breakdown of all specific marketing

    A) bottom-up budgeting
  46. The
    Net Marketing Contribution framework would most likely be used by a marketer to

    D) identify ways to increase profits
  47. A
    staircase analysis is a tool used by marketers to ________.

    B) develop specific objectives
  48. What
    is the most narrow category of a staircase analysis?

    C) cross selling
  49. Aided
    recall and unaided recall are methods for measuring ________.

    D) brand awareness
  50. How
    should a marketer interpret a big difference between unaided and aided recall
    in a staircase analysis?

    C) The brand is weak in its product category.
  51. Which
    term refers to the amount of business a firm receives from a customer?

    B) share of wallet
  52. A
    firm is most likely using ________ when it identifies and corrects a marketing
    problem in order to obtain forecasted results.

    D) progress control
  53. Which
    of the following involves testing and questioning the values, assumptions,
    policies, and strategies of a specific marketing mix?

    D) premise control
  54. Which
    type of financial ratio measures the extent that a firm generates value for

    A)debt ratio
    C)liquidity ratio
    D)dividend ratio
    D)dividend ratio
  55. A
    firm's ability to meet all interest payments and fixed-charge obligations would
    best be measured with a ________ ratio.

    C) debt
  56. The
    primary purpose of using marketing metrics is to ________.

    A) determine what factors drive a firm's performance
Card Set
Marketing - Notes 28-37