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Category > Marketing Posted 11 Sep 2019 My Price 12.00

MKT 100 Week 6 Midterm Exam Answers

• Question 1

 

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

 

• Question 2

 

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) _____.

 

• Question 3

 

The more precisely defined the target market is, the _____ the numbers are to estimate.

 

• Question 4

 

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

 

• Question 5

 

Brands and products have perceived strengths, and marketing departments need to consider what they can do to assure that these will be sustainable _____.

 

• Question 6

 

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

 

• Question 7

 

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

 

• Question 8

 

 

Which of the following are pure goods?

 

• Question 9

 

As Chris arrives at the airport, he decides that instead of waiting in line to check-in he will use the automated check-in kiosk.  He types in the information requested by the kiosk and his boarding pass is printed within seconds.  What does this exemplify the growing trend of?

 

• Question 10

 

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

 

• Question 11

 

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

 

• Question 12

 

Empty nesters tend to start dreaming of spending their greater discretionary income on ____.

 

• Question 13

 

_______ is a type of segmentation in which the company strategically focuses on targeting a smaller market with particular needs that the company can serve well.

 

• Question 14

 

A company is interested in better understanding how different groups of customers feel about its products. In order to do this, the company will need to _____.

 

• Question 15

 

__________ 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.

 

• Question 16

 

 

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?

 

• Question 17

 

Product leadership refers to companies that ______.

 

• Question 18

 

Jen is developing the positioning statement for a brand.  In a meeting, the marketing team tells Jen that she has succinctly and clearly expressed the competitive advantage of the new brand.  The team approves of the way Jen wants to express the brand’s competitive advantage, and tells her to continue her work on fully developing the positioning statement.  Which element of crafting the positioning statement has Jen’s team just approved?

 

• Question 19

 

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.

 

• Question 20

 

Operational excellence refers to companies that ________.

 

• Question 21

 

What are a mix of beliefs and importance weights?

 

• Question 22

 

Why is Chrysler’s Imported from Detroit trademarked?

 

• Question 23

 

During the purchase phase for a new car, Larry creates a _____ that includes Chrysler 300 and Toyota Avalon, but does not include Hyundai Azera.

 

• Question 24

 

Operant conditioning is based on _____.

 

• Question 25

 

What is a classic marketing exercise that is used to declare that one’s own product is superior to the market leader?

 

• Question 26

 

The 4Ps include all of the following EXCEPT:

 

• Question 27

 

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

 

• Question 28

 

Which of the following is NOT part of the 5Cs?

 

• Question 29

 

What is the result a company sees from happier customers due to marketing?

• Question 30

 

If you ask the average person, “What is marketing?” one of the things you might hear is:

 

• Question 31

 

A product has more competition during the __________ stage than in any other stage in its life cycle.

• Question 32

 

What growth strategy combines new markets and new products?

 

• Question 33

 

During ____________, a new product (good or service) is brought into the marketplace with heavy marketing spending.

 

• Question 34

 

The stage of the Product Life Cycle where sales and profits drop and new products replace older generations is called ___________.

 

• Question 35

 

The __________ are a group of approximately 10-15% of the population who is so influential that the loss of one of these customers costs the firm more than the loss of later adopters.

 

• Question 36

 

Scott, a young professional, buys a new BMW, even though a Ford would have cost him less. Scott values the BMW brand. This is an example of _____.

 

• Question 37

 

Which is an example of co-branding?

 

• Question 38

 

Which branding approach provides stronger financial outcomes to the company?

 

• Question 39

 

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

 

• Question 40

 

Why can a store brand offer decent quality for lower prices?

 

•  Question 1 

 

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

 

•  Question 2 

 

__________ qualities are those attributes that may be evaluated prior to purchase, as the customer learns about the competitive offerings.

 

•  Question 3 

 

It is helpful to think of goods and services as

 

•  Question 4 

 

A doctor's professional services are dominated by __________ elements.

 

•  Question 5 

 

Which of the following is an example of "experience marketing"?

 

•  Question 6 

 

Marketing is thought to be evidence of an evolved

 

•  Question 7 

 

Great marketing is based on __________ laws of human and organization behavior.

 

•  Question 8 

 

Which of the following is one of the 5Cs?

 

•  Question 9 

 

Marketers try to figure out what __________ want and then they try to figure out how to provide it and make money doing so.

 

•  Question 10 

 

If you ask the average person, "What is marketing?," one of the things you might hear is

 

•  Question 11 

 

In analyzing perceptual maps, one question always on the marketer's mind is:

 

•  Question 12 

 

 

Brands depicted as points in the map close together are those perceived as

 

•  Question 13 

 

Which of the following combinations should be avoided?

 

•  Question 14 

 

Customer intimacy refers to companies that

 

•  Question 15 

 

The USP concept captures the

 

•  Question 16 

 

China's rising economy is creating a large demand for

 

•  Question 17 

 

When do consumers want to learn more about a product?

 

•  Question 18 

 

With repetition and elaboration, associations can get into

•  Question 19 

 

Marketers typically classify customers by __________ a given purchase.

 

•  Question 20 

 

Ivan Pavlov with his salivating dogs is an example of what type of learning process?

•  Question 21 

 

Marketers target certain segments because it's __________ to try to be all things to all people.

 

•  Question 22 

 

Company ABC makes kitchen appliances that have many features in great demand by professional chefs whose only interest is in the foods they can produce. Based on its customers, ABC should try to dominate the market in

 

•  Question 23 

 

 

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

 

•  Question 24 

 

Corporate strengths should be assessed relative to a firm's competitors in order to understand customers and their

 

•  Question 25 

 

Company ABC is in the process of sizing the market for its new web-based service that allows consumers to be matched with local attorneys specializing in the area of law pertaining to the consumer's need. The marketing team is trying to estimate the purchase decision-making process with respect to how likely it is that visitors to the site will hire an attorney identified by Company ABC. In estimating the purchase decision-making process, the marketing team should consider the elements of

 

•  Question 26 

 

There is a rule of thumb that says it costs _____ times more to acquire a new customer compared to maintaining a loyal one.

 

•  Question 27 

 

A popular tool for segmenting that uses psychographic data, and that is based on the belief that one's attitudes and value system determine one's orientation to certain products and/or brands is called

 

•  Question 28 

 

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

•  Question 29

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

 

•  Question 30 

 

What term refers to people who are trendy and fashionable in order to impress others and are often impulse buyers?

 

•  Question 31 

 

Which of the following statements is true about firms and brands named after the founder?

•  Question 32 

 

In order to best value a brand, how should it be measured?

•  Question 33 

 

A true global brand carries __________ brand name(s) and logo(s) anywhere it is offered, and it is available in most markets in the world.

 

•  Question 34 

 

Which of the following is an example of a company using a house of brands approach?

 

•  Question 35 

 

Which branding approach provides stronger financial outcomes to the company?

 

•  Question 36 

 

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

 

•  Question 37 

 

The process of developing new products depends first on a company's

 

•  Question 38

Which of the following stages occurs last?

 

•  Question 39 

 

Which growth strategy is the toughest?

 

•  Question 40 

 

What growth strategy combines new markets and new products?

 

 

 

Answers

(21)
Status NEW Posted 11 Sep 2019 01:09 AM My Price 12.00

MKT----------- 10-----------0 W-----------eek----------- 6 -----------Mid-----------ter-----------m E-----------xam----------- An-----------swe-----------rs-----------

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