practive Flashcards by Aimen Ali

The _____ is a strategic opportunity matrix that conceptualizes the decision choices between products (including services, so what we might call “offerings,” more generally) with markets (i.e., customer segments).
Group of answer choices

Ansoff’s Matrix

Competitive Advantages

BCG Portfolio Matrix

SWOT Analysis

Situation Analysis

ansoff

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Coca-Cola vending machines are found all over the world. The newest machines have an interactive screen that runs advertisements and allows users to obtain free photos of themselves and ringtones after they have bought a drink. Critics of these new vending machines are concerned that entertaining technology is being used to market sugary products. In terms of a SWOT analysis, this concern from outside critics would be an example of a(n):

threat.

advantage.

opportunity.

weakness.

strength.

threat

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Walmart can achieve a _____ using its relationships with suppliers to create an advantage that, ultimately, allows it to give customers low prices and good customer service.
Group of answer choices

marketing competitive advantage

niche competitive advantage

cost competitive advantage

synergistic competitive advantage

brand name strategy

cost competitive

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Arizona Tea, marketed by Vultaggio & Sons, took a basic drink and put it into unusual bottles with elaborate designs. The wide-mouthed, long-necked bottles are now considered to be trendsetters in the new age beverage industry, and customers often buy the tea just for the bottle. The success of Arizona Tea is based on:
Group of answer choices

supply-demand curves.

a product differentiation competitive advantage.

reengineering.

a heterogeneous marketing strategy.

a cost competitive advantage.

prodict

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Mojang Studio, creator of the very successful Minecraft game, has developed many other games you may not have heard of. Computer gaming companies often develop hundreds of games before gaining one successful game. It’s not always easy to spot the future success and this can result in potentially wasted funds. Mojang Studio released Minecraft Dungeons in 2020 as their latest product. Given that Minecraft Dungeons is in the high growth market of “sandbox” electronic games, but has yet to capture much relative market share, within which quadrant of the BCG matrix does their latest release lie?
Group of answer choices

Cash Cow

Dog

Question Mark

Star

question mark

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A salon
Group of answer choices

Weekly design and printing needs, purchase decisions may be made by a marketing professional

High-end design and inexpensive printing needs, purchase decisions made by owner

Simple printing needs, purchase decisions made by owner who is price sensitive

Large design pieces and expensive printing needs, purchase decisions must be approved by manufacturer

High-end design and inexpensive printing needs, purchase decisions made by owner

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An appliance repair shop
Group of answer choices

Weekly design and printing needs, purchase decisions may be made by a marketing professional

High-end design and inexpensive printing needs, purchase decisions made by owner

Simple printing needs, purchase decisions made by owner who is price sensitive

Large design pieces and expensive printing needs, purchase decisions must be approved by manufactur

imple printing needs, purchase decisions made by owner who is price sensitive

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A specialty retailer of imported furniture
Group of answer choices

Weekly design and printing needs, purchase decisions may be made by a marketing professional

High-end design and inexpensive printing needs, purchase decisions made by owner

Simple printing needs, purchase decisions made by owner who is price sensitive

Large design pieces and expensive printing needs, purchase decisions must be approved by manufacturer

High-end design and inexpensive printing needs, purchase decisions made by owner

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A local car dealer
Group of answer choices

Weekly design and printing needs, purchase decisions may be made by a marketing professional

High-end design and inexpensive printing needs, purchase decisions made by owner

Simple printing needs, purchase decisions made by owner who is price sensitive

Large design pieces and expensive printing needs, purchase decisions must be approved by manufacturer

Weekly design and printing needs, purchase decisions may be made by a marketing professional

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assume that as the marketing manager for Pottery Barn, you have identified seven possible segments in your efforts to determine whom the company should target with their direct mail catalogs. For each segment, check off if they are even viable for Pottery Barn to consider based on the criteria presented.

Households in select zip codes with > $50,000 annual income
Group of answer choices

Substantial

Actionable

Identifiable

Accessible

Identifiable

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Existing customers who have visited the store in the last six months
Group of answer choices

Substantial

Identifiable

Accessible

Actionable

Accessible

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Teens who shop at the Gap
Group of answer choices

Identifiable

Substantial

Accessible

Actionable

ubstantial, Identifiable, Accessible, Actionable

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pottery barn
All households within a 50-mile radius of the store location
Group of answer choices

Actionable

Identifiable

Substantial

Accessible

all

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pottery barn
Existing customers who have bought in the last twelve months
Group of answer choices

Identifiable

Substantial

Actionable

Accessible

orrect Answer: Substantial, Identifiable, Accessible, Actionable

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pottery barn
Ancient Greek History graduate students at private colleges in the Southeast U.S. who drink Dos Equis beer
Group of answer choices

Identifiable

Actionable

Substantial

Accessible

Correct Answer: hmmm… now, this group may not be so Substantial, Identifiable, Accessible, or Actionable, so I might put a no on all those

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pottery barn
High school graduates headed for college
Group of answer choices

Accessible

Actionable

Identifiable

Substantial

Substantial, Identifiable, Accessible, but maybe not so Actionable (although Pottery Teen takes aim at them/their parents)

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Why do marketers segment their markets and what are the basic criteria for doing so successfully?
Group of answer choices

Segments must be composed of people with different product needs.

Segments must be composed of people with different characteristics.

Segments must be large enough to warrant developing and maintaining a special marketing mix.

Segments must be divided according to the North American Industry Classification System.

Segments must be large enough to warrant developing and maintaining a special marketing mix.

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Why is targeting a specific group of customers usually more successful than trying to appeal to everyone?
Group of answer choices

Customer interests change

It takes less effort

It costs less

It will satisfy the segment’s specific needs

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A nationwide restaurant chain that varies its menu based on its location is an example of what kind of segmentation:
Group of answer choices

Demographic

Psychographic

Geographic

Benefits

Usage

Geographic

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Ride1Up is a maker of electric bikes in the U.S. If bike riding is closely associated with someone’s lifestyle (do they prefer to ride a bike to work, for errands, for leisure, and/or for exercise), on which segmentation bases category do they most likely decide what kind of bike styles to build and where to promote them?
Group of answer choices

Psychographic

Demographic

Firmagraphics

Geographic

Psychographic

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Procter & Gamble markets six different brands of laundry detergent, each targeting a different market segment. This is an example of a _________ targeting strategy.
Group of answer choices

niche

concentrated

multi-segment

undifferentiated

multi-segment

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Small firms or firms with a unique product may choose to focus on a single segment and pursue a(n) _________ targeting strategy.
Group of answer choices

positioning

undifferentiated

niche

mass marketing

niche

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Runners recovering from a foot bone injury:

Product Configuration

Minimal structure

More aggressive ankle protection and tread pattern, waterproof

More structured shoes with endorsement and sales

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Which of the following is NOT identified as one of the factors that should influence the selection of segments for target markets?
Characteristics of the Segment
Characteristics of Collaborators
Characteristics of the Competition
Company Fit

Characteristics of Collaborators

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Runners recovering from a foot bone injury: Distribution Group of answer choices Promoted through natural health magazines Promoted through event sponsorship Through sports physiologists, podiatrists, orthopedists

Through sports physiologists, podiatrists, orthopedists

Runners wanting to experiment with "barefoot" running: Product Configuration Group of answer choices More structured shoes with endorsement and sales Minimal structure More aggressive ankle protection and tread pattern, waterproof

Minimal structure

Runners wanting to experiment with "barefoot" running: Distribution Group of answer choices Through sports physiologists, podiatrists, orthopedists Promoted through natural health magazines Promoted through event sponsorship

Promoted through natural health magazines

Runners wanting to experiment with "barefoot" running: Price Points Group of answer choices Lower Price High price

High price

Runners competing in the "mudder" type races that involve obstacles and messy conditions: Product Configuration Group of answer choices Minimal structure More aggressive ankle protection and tread pattern, waterproof More structured shoes with endorsement and sales

ore aggressive ankle protection and tread pattern, waterproof

Runners competing in the "mudder" type races that involve obstacles and messy conditions: Distribution Group of answer choices Promoted through event sponsorship Promoted through natural health magazines Through sports physiologists, podiatrists, orthopedists

Promoted through event sponsorship

Runners competing in the "mudder" type races that involve obstacles and messy conditions: Price Points Group of answer choices Lower Price High price

High price

When competing against other energy drinks like Red Bull and Monster, 5-Hour Energy is thinking through how to get its brand to occupy a clear, distinctive, and desirable place in its target customers’ minds. What problem is it trying to solve? Group of answer choices Promotion Segmentation Positioning Competition Targeting

Positioning

For claims about the product, positioning statements should: Group of answer choices avoid any reference to points of similarity (parity) with competitor brands focus on the single, most important value claim focus only on the points of differentiation between this brand and others cite all of the benefits that the brand offers

focus on the single, most important value claim

When shopping for a smartphone, a consumer first compares prices to see which brand offers the lowest price. After also inspecting the product features of the various phones, however, she decides that the lowest-priced brand is not her choice. Instead, she selects the brand with the best features for her needs. This outcome is the result of the chosen brand’s unique value claim that is known as: Group of answer choices economic value functional value social value experiential value

functional value

ohn Deere & Co. is deciding whether to use a feature-based claim or a benefit-based claim for its new JD 750 tractor’s positioning. Which of the following is a benefit-based claim? The first hydrostatic transmission Improved maneuverability and flexibility A fully automatic dual-path hydrostatic drive The only 102-horsepower tractor in the market Drive tracks' design means they are capable of being driven independently of each other

Improved maneuverability and flexibility

_______ refers to the shared brand stories and associations that accumulate and fill the brand markers (elements) with meaning. Group of answer choices Unique selling proposition Brand extension Brand element Brand positioning Brand culture

Brand culture

Which of the following is NOT one of the steps in the Brand Resonance Pyramid? Group of answer choices Salience Imagery Performance Equity Judgements

Equity

______ is a quantitative measurement of the total financial value of a brand, although a number of consulting firms have different approaches to determining the value using various quantitative and qualitative inputs. Group of answer choices Brand value Brand resonance Brand positioning Brand culture Brand salience

rand value

Which of the following criteria for selecting brand elements is NOT considered to be a defensive criteria? Group of answer choices Protectable Adaptable Transferable Appealing (likeable)

Appealing (likeable)

When people make decisions about what to buy, what is it they are most often really buying? Woman holding a book to be purchased Group of answer choices Products and services Features of products and services Benefits and values that products and services provide

There are a number of versions of liquid detergents marketed under the Tide brand, including detergents with and without fabric softener, with and without bleach, with various pleasing smells, and fragrance-free formulations. These detergents are an example of Tide’s: Tide liquid detergent bottles Group of answer choices product mix. marketing mix. product line. mix consistency. product equity.

Saucony is considering adding a new item to its Hurricane line of running shoes to increase its product line depth. All options would be acceptable EXCEPT: Group of answer choices adding a new private-label product adding a lower-priced item that is still capable of satisfying the needs of some customers adding a higher-priced shoe with a higher performance level inserting an item of a price and performance level that fills a gap between two existing items

Which of the following choices is NOT a consideration for the depth of a product line? Group of answer choices Customer heterogeneity and requirements specification Potential for cannibalization The trialability of the product line. The effect on overall brand equity

Imagine that you are on the Taco Bell marketing team, and as Taco Bell prepares itself for developing the next iteration of their Doritos Loco Tacos product line, your team needs to identify the process used for past product launches to manage risks and increase the likelihood of success. Consider each stage from new-product strategy through commercialization. New-product strategy Group of answer choices Collaborating with Frito-Lays technical teams Reinvent the crunchy taco and traditional Mexican cuisine Plans for new manufacturing lines to meet potential demand Building a pilot plant, hiring and training new employees All-day ideation sessions with employees pitching product concepts Experimenting with recipes to adjust seasoning and structural integrity Rounds of testing with consumers Illustrations and edible mock-up Prototype released to select cities

Generating ideas Group of answer choices Experimenting with recipes to adjust seasoning and structural integrity Building a pilot plant, hiring and training new employees Plans for new manufacturing lines to meet potential demand Collaborating with Frito-Lays technical teams Prototype released to select cities Reinvent the crunchy taco and traditional Mexican cuisine All-day ideation sessions with employees pitching product concepts Rounds of testing with consumers Illustrations and edible mock-up`

Screening ideas/concept testing Group of answer choices Illustrations and edible mock-up Experimenting with recipes to adjust seasoning and structural integrity Plans for new manufacturing lines to meet potential demand Prototype released to select cities Building a pilot plant, hiring and training new employees Reinvent the crunchy taco and traditional Mexican cuisine Collaborating with Frito-Lays technical teams All-day ideation sessions with employees pitching product concepts Rounds of testing with consumers`

Business analysis Group of answer choices Plans for new manufacturing lines to meet potential demand Reinvent the crunchy taco and traditional Mexican cuisine All-day ideation sessions with employees pitching product concepts Experimenting with recipes to adjust seasoning and structural integrity Collaborating with Frito-Lays technical teams Rounds of testing with consumers Illustrations and edible mock-up Building a pilot plant, hiring and training new employees Prototype released to select cities

Development Group of answer choices Rounds of testing with consumers Reinvent the crunchy taco and traditional Mexican cuisine Plans for new manufacturing lines to meet potential demand Collaborating with Frito-Lays technical teams Building a pilot plant, hiring and training new employees Prototype released to select cities Experimenting with recipes to adjust seasoning and structural integrity All-day ideation sessions with employees pitching product concepts Illustrations and edible mock-up

Test marketing Group of answer choices Illustrations and edible mock-up Plans for new manufacturing lines to meet potential demand Experimenting with recipes to adjust seasoning and structural integrity Building a pilot plant, hiring and training new employees Rounds of testing with consumers Collaborating with Frito-Lays technical teams All-day ideation sessions with employees pitching product concepts Prototype released to select cities Reinvent the crunchy taco and traditional Mexican cuisine

Commercialization Group of answer choices Collaborating with Frito-Lays technical teams All-day ideation sessions with employees pitching product concepts Experimenting with recipes to adjust seasoning and structural integrity Reinvent the crunchy taco and traditional Mexican cuisine Illustrations and edible mock-up Building a pilot plant, hiring and training new employees Plans for new manufacturing lines to meet potential demand Rounds of testing with consumers Prototype released to select cities

he first stage of the new-product development process is: Group of answer choices establishing the new-product strategy exploring opportunities developing a business analysis the building of a prototype screening and concept testing

During which stage of the process does the marketer lead the preliminary analysis and calculations for demand, cost, sales, and profitability? Group of answer choices The building of a prototype Establishing the new-product strategy Exploring opportunities Screening and concept testing Developing a business analysis

_______ product goes beyond the expected product to include unexpected value-enhancing elements. Group of answer choices Augmented Potential Generic Expected

Imagine you work for a company that is introducing a new 3D TV into the marketplace. Your marketing team must determine how to achieve successful adoption of the product. Therefore, you must consider how marketing needs to be adapted to be successful on each side of the chasm. For each question below, choose all that apply. nnovators & Early Adopters Approach Highlight the features, such as: Group of answer choices How it can make sporting events more immersive Auxiliary functions such as surround sound and ambient lighting How the TV will create more family bonding time together Screen resolution and brightness 3D technology used for the screen and glasses How attractive it can look in your living space

Imagine you work for a company that is introducing a new 3D TV into the marketplace. Your marketing team must determine how to achieve successful adoption of the product. Therefore, you must consider how marketing needs to be adapted to be successful on each side of the chasm. For each question below, choose all that apply. Early Majority & Late Majority Customers Approach Highlight the amount of content available, including: Group of answer choices Screen resolution and brightness 3D technology used for the screen and glasses How the TV will create more family bonding time together How attractive it can look in your living space Auxiliary functions such as surround sound and ambient lighting How it can make sporting events more immersive

In the adopter categories, the final 16 percent to adopt are similar to innovators in that they do not rely on the norms of the group but are independent because they are bound to tradition. They tend to have the lowest socioeconomic status, are suspicious of new products, and are alienated from a rapidly advancing society. They are called: Group of answer choices late majority. luddites. laggards. decliners. generics.

Which of the following is not one of the stages of the product lifecycle? Group of answer choices Decline stage Growth stage Introductory stage Maturity stage New product strategy stage

All of the following are product characteristics influencing the rate of adoption EXCEPT: Group of answer choices distribution. observability. compatibility. relative advantage. complexi

The "chasm" identified in the Technology Adoption Life Cycle concept exists between which two of the categories of product adopters? Group of answer choices Early Adopters and Early Majority Innovators and Early Adopters Late Majority and Laggards Early Majority and Late Majority Laggards and Innovators

Services tend to exhibit more search qualities than do tangible goods. Group of answer choices True False

Which of the following is NOT one of the four unique elements to services? Group of answer choices Perishability Intangibility Inseparability Heterogeneity Incoherency

The intentional efforts of a company to design, manage, and evolve its channel strategy in light of changes that arise in the competitive and customer environments is referred to as: Group of answer choices channel stewardship channel distribution channel retailing channel mastering channel enhancement

Which of the following is not a channel option between a supplier (also known as the producer, assembler, or manufacturer/maker) and its customers when the supplier wants to leverage an intermediary to create an indirect channel? Group of answer choices Going directly to the end customer through its own sales and distribution system All of these are channel options for a supplier that wants to leverage an intermediary to create an indirect channel Going directly to a retailer Going through a stocking distributor (wholesaler), which connects to a retailer Going through an agent such as a broker (jobber), who then serves the retailer

Which of the following statements is INCORRECT regarding concepts associated with the value chain? Group of answer choices A retailer performs channel functions such as displaying the merchandise, promoting the merchandise in its stores, and providing after-sales support where needed. The piece of the value chain that looks back toward the sourcing of raw materials is referred to as the "supplier network." The piece of the value chain that looks forward toward the end customer is referred to as the "marketing channel." A distributor performs channel functions such as receiving bulk packages and breaking them down into smaller order sizes, putting together assortments, and shipping to the retailer(s). Distribution channel concepts are relevant to B2C transactions, not B2B transactions.

______ within the marketing channel can provide efficiencies and economies of scale as channel members take on tasks that best utilize their expertise or strategic relationships. Group of answer choices Overcoming temporal discrepancies Overcoming quantity discrepancies Addressing assortment issues Decreasing the distance between producers and customers Specialization or Division of labor

Which function below is the LEAST likely to be one of a channel intermediary’s functions? Group of answer choices Granting credit to customers Breaking bulk packs into smaller packs Providing after-sales support where needed Developing the brand’s national TV advertising campaign Setting up product displays in stores

Developing the brand’s national TV advertising campaign

One configuration of a marketing channel entails producers selling to consumers without any intermediaries in the channel. This is called a(n): Group of answer choices alternative channel. limited distribution system. direct channel. indirect channel. reciprocal channel.

Which of the following is an analysis that the channel steward does NOT need to perform when mapping a channel value chain? Group of answer choices Customer Wants and Needs Analysis Breakeven Analysis Competitive Postures and Actions Analysis Channel Power and Influence Analysis Channel Capabilities and Cost Analysis

You run a small company that has become quite successful selling graphic t-shirts to customers directly via your internet website. As your company has started to grow, you are now considering whether you should open up your own retail stores to continue to sell directly to customers or work with retail boutiques or retail chains to sell your products in their stores. Will allow your company to establish closer relationships with customers. Group of answer choices Direct Channel Indirect Channel

You run a small company that has become quite successful selling graphic t-shirts to customers directly via your internet website. As your company has started to grow, you are now considering whether you should open up your own retail stores to continue to sell directly to customers or work with retail boutiques or retail chains to sell your products in their stores. Will allow your company to reach a wider set of customers (more customers within a segment and/or more segments of customers). Group of answer choices Indirect Channel Direct Channel

You run a small company that has become quite successful selling graphic t-shirts to customers directly via your internet website. As your company has started to grow, you are now considering whether you should open up your own retail stores to continue to sell directly to customers or work with retail boutiques or retail chains to sell your products in their stores. Will allow your company to achieve higher margins (profit per unit). Group of answer choices Direct Channel Indirect Channel

You run a small company that has become quite successful selling graphic t-shirts to customers directly via your internet website. As your company has started to grow, you are now considering whether you should open up your own retail stores to continue to sell directly to customers or work with retail boutiques or retail chains to sell your products in their stores. Will allow your company to maintain more control over branding and product presentation Group of answer choices Direct Channel Indirect Channel

You run a small company that has become quite successful selling graphic t-shirts to customers directly via your internet website. As your company has started to grow, you are now considering whether you should open up your own retail stores to continue to sell directly to customers or work with retail boutiques or retail chains to sell your products in their stores. Will allow your company to be perceived as equal quality and prestige as other well-established brands. Group of answer choices Indirect Channel Direct Channel

________ is a form of distribution aimed at having a product available in every outlet where target customers might want to buy it. Group of answer choices Aggregated Cumulative Exclusive Intensive Multiple

Intensive

In deciding between an integrated versus an arm’s length approach to channel structure, trade-off considerations are important. Which trade-off below is NOT part of these considerations? Group of answer choices High control versus low control High competition versus low competition Higher costs versus lower cost Lower channel coverage versus higher channel coverage

High competition versus low competition

Burger King’s restaurants are independently owned, yet their managers adhere strictly to the policies laid out by the brand owner. This channel structure is called a(n): Group of answer choices integrated distribution network. arm’s length distribution network. multichannel distribution network. franchised distribution network. monobrand distribution network.

franchised distribution network.

As a medium-sized grocery retailer, your marketing and merchandising teams find themselves at a constant disadvantage when negotiating with national vendors on product selection and prices. What steps can you take to change the nature of the social structure within the channel to create a more even footing in negotiations? Choose all that apply. ake your selections by checking off the statement(s) below. Group of answer choices Work with competitors of the national vendor to create special pricing or promotional deals with the intent of punishing the national vendor. Find ways to improve the business of the national vendor (e.g., create special events or promotions, product tie-ins) that other retailers may be unable or unwilling to do. Work together with other medium-sized grocery retailers to agree to raise the prices on all the national vendor goods to discourage customers away from those products. Refuse to sell the national vendors' products. Create, market, and grow a set of private-label branded products. Find ways to increase brand loyalty among shoppers. Develop partnerships with other brands and celebrities to create uniqueness in the marketplace and attract fans of those brands.

horizontal channel conflict can arise for a variety of reasons. An example would be a toy manufacturer selling its toys through toy stores, discount stores, department stores, and even drugstores. Which factor cited below contributes to horizontal channel conflict? Group of answer choices Delayed availability of the product in competing channels Special bundles offered only to toy specialty stores Undifferentiated products and variable prices in the various channels Vertical marketing systems

Undifferentiated products and variable prices in the various channels

A channel steward uses power to influence, motivate, and manage channel partners. An example of a channel steward’s use of hard power is a: Group of answer choices supplier demanding that retailers use only the manufacturer’s suggested retail price. manufacturer threatening to eliminate retailers who do not display its product. franchisor suing a franchisee for breaking their contract. brand’s unique product design.

brand’s unique product design.

Soft power helps to build a constructive relationship among distribution channel members. One source of soft power is trust, which is: Group of answer choices a declaration of a channel steward’s future intention to maintain or enhance relationships with channel partners. having confidence in another party’s integrity and reliability through their history of dealing with each other. a pledge of continuity and a long-term view of performing value-adding activities in the channel. willingness to make investments to achieve channel goals. a supplier not requiring the use of contracts in its arrangements with distributors.

having confidence in another party’s integrity and reliability through their history of dealing with each other.