Midterm quiz 2 chapter 5 to chapter 8 answers PDF

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Mk4002 Quiz 2 Chapter 5 to 8

1.

The "competitiveness" positioning idea refers to which of the following? A. Companies must offer superior services over their competitors B. The positioning idea must possess a differential advantage, something which the competition is failing to supply C. The positioning idea must clearly show the technological superiority of a brand over their competitors D. Companies must offer cheaper prices than their competitors

2.

Customized marketing is which of the following? A. A market coverage strategy where a company decides to target one market segment with a single marketing mix B. A market coverage strategy where a company decides to tailor its promotional strategy for each and every customer C. A market coverage strategy where a company decides to target several market segments and develops separate marketing mixes for each D. A market coverage strategy where a company decides to target individual customers and develops separate marketing mixes for each

3.

A market coverage strategy where a company decides to target one market segment (niche) with a single marketing mix is called which of the following? A. Differentiated marketing B. Focused marketing C. Undifferentiated marketing D. Customized marketing

4.

Targeting children in advertising and communication is the subject of some criticism as it may encourage them to use _______ power to encourage their parents to buy products and services. A. Influence B. Pester C. Materialist D. Pressure

5.

Repositioning involves which of the following? A. Changing the location of where a product is stocked in a store B. Changing the price of a product or service (e.g. offering discounts) C. Changing advertising strategy D. Changing the target markets, the differential advantage or both

6.

What is the purpose of segmentation? A. To identify the most profitable consumer segments B. To target segments that are not targeted by competitors C. To identify differences in behaviour that has implications for marketing decisions D. To target segments which match our product/ service attributes

7.

Which of the following is a major advantage of an undifferentiated marketing strategy? A. Companies only have to develop a single product offering, thereby making it convenient B. Company does not have to continually invest in new product development C. Less distribution channels needed D. Less advertising is needed, thereby reducing costs incurred

8.

Why are "perceptual maps" used? A. To assess positioning strategies within retail stores B. To assess strategic moves for a brand C. To assess creative adverts D. To assess how a consumer processes information

9.

Every product has a mix of tangible and _______ components. A. Emotional B. Intangible C. Physical D. Hedonic

10. The BCG matrix allows portfolios of products to be depicted on a 2 x 2 box, the axes of which are based on which of the following? A. Market growth rate and relative market share B. Relative market share and price positioning C. Sales and profit margins per unit D. Share price and turnover 11. Which of the following is the correct order for the seven-step new product development process? A. Business analysis, idea generation, concept testing, screening, market testing, product development, and commercialization# B. Business analysis, idea generation, screening, concept testing, product development, market testing, and commercialization C. Idea generation, business analysis, concept testing, screening, product development, market testing, and commercialization D. Idea generation, screening, concept testing, business analysis, product development, market testing, and commercialization

12. Which of the following best describes innovators? A. Price conscious B. Venturesome C. Risk averse D. Elderly 13. During the decline stage of the product life cycle, a _______ strategic marketing objective is normally followed. A. Build B. Maintain C. Hold D. Harvest

14. Concept testing allows the views of which of the following to enter the new product development process? A. Customers B. Distributors and retailers C. Investors D. Employees 15. Brands fulfil a very important function in distinguishing the product offerings of one company from those of others in a _______ environment. A. Competitive B. co-operative C. controlling D. relative 16. A brand is created by _______. A. augmenting a core product with distinctive values that distinguish it from the competition B. promoting a product as an exclusive and luxury item C. continually investing in creative and innovative advertising campaigns D. designing a truly unique product that cannot be imitated by competitors 17. The product life cycle is which of the following? A. A market research tool, which analyses the usage of a product during its lifetime (e.g. length of usage, how many people have used the product etc.) B. A product portfolio model, useful in determining future market share growth and market share C. A useful tool for conceptualizing the changes that may take place during the time that a product is on the market D. A segmentation tool used to segment the marketplace, highlighting viable segments that are suitable for targeting

18. Pan-European or global brands have which of the following advantages?

A. Standardized channels of distribution B. Reflects national differences C. Match various cultures D. Tremendous economies of scale Sellotape has become synonymous with adhesive tape, ipod with MP3 players and hoover with vacuum cleaners. These are all examples of how some products are more commonly known by the _______ name rather than the product name. A. Brand B. Home C. Code D. Class 20. "Stars" have a good chance of becoming which of the following in the future: A. Dogs B. Cash Cows C. Problem Children D. Pigs 21. The third step in a service recovery process is to: A. Encourage learning so that service recovery problems are identified and corrected B. Set up a tracking system to identify system failures C. Train and empower staff to respond to customer complaints D. None of the above 22. Research has shown that a successful resolution of a customer complaint can: A. Make customers feel more positive about the firm than before the service failure B. Restore customer confidence to the level it was before the service failure C. None of the above D. Improve customer confidence but to nowhere near the level it was before the service failure 23. A negative customer experience may result in which of the following: A. Positive word-of-mouth B. Customer complaint C. Customer retention D. All of the above

24. The increased association of brands with events such as rock concerts and music festivals, is known as _______ marketing. A. Mass B. Experiential C. Social D. Direct

25. Which of the following is an example of a pure service? A. Machinery B. Software design C. Psychotherapy D. Clothing

26. The link between customer loyalty and profitability is a very important one in marketing. Associations between a small increase in customer retention and a(n) _______ increase in profitability have been identified.

A. Minimal

B. Large

C. Small

D. non-existent

27. The first step in a service recovery process is to:

A. Encourage learning so that service recovery problems are identified and corrected

B. None of the above

C. Train and empower staff to respond to customer complaints

D. Set up a tracking system to identify system failures

28. What is the outcome of expected service being equal to perceived service?

A. Customer indifference

B. Customer dissatisfaction

C. None of the above

D. Customer satisfaction

29. Which of the following are important dimensions of service quality?

A. Assurance, reliability, responsiveness, reputation and flexibility

B. Reliability, responsiveness, empathy, assurance and tangibles

C. Reputation, responsiveness, intangibles, durability and reliability

D. Trustworthiness, reliability, reciprocity, reputation and flexibility

30. Two marketing courses delivered at the same university may vary considerably in terms of quality. Which of the following service characteristics does this example illustrate?

A. Inseparability

B. Variability

C. Perishability

D. Intangibility

31. Which of the following is the most criticized ethical issue affecting pricing?

A. Product dumping

B. Predatory pricing

C. Price fixing

D. Fair trade

32. Marketing-orientated companies need to take account of where the price of a new product fits into its existing _______ line.

A. Competitive

B. Brand

C. Company

D. Product

33. Low-cost airlines have been significant users of _______ pricing, where the prices are not the same as they may first appear.

A. Fixing

B. Penetration

C. Deceptive

D. Skimming

34. A penetration pricing strategy is likely where a company_______

A. seeks to dominate the market and to create a barrier to entry for competitors

B. seeks to create a barrier to entry for competitors

C. none of the above

D. seeks to dominate the market

35. Which of the following is not a problem associated with cost-based pricing?

A. The procedure is illogical because a sales estimate is made before a price is set

B. It leads to an increase in price as sales fall

C. It attempts to undertake break-even analysis

D. It focuses on internal costs rather than customers' willingness to pay

36. Competitor-orientated pricing may take any of three forms. Which of the following is not one of these forms?

A. Where firms follow the prices charged by leading competitors

B. Where companies set prices to average industry costs

C. Where contracts are awarded through a competitive bidding process

D. Where producers take the going rate price

37. A key reason for the success of many low-cost operators is their flexible approach to pricing, which is known as _______ pricing.

A. Static

B. Primary

C. Secondary

D. Dynamic

38. Where products destined for an international market are re-imported back into the home market and sold through unauthorized channels at levels lower than the company wishes to charge, this is known as _______.

A. price discrimination

B. product dumping

C. parallel importing

D. stock purging

39. When estimating a competitor's reaction to a price change which of the following should be assessed?

A. Their self interest

B. Their past history

C. Their strategic objectives

D. All of the above should be considered

40. Price decreases are likely when there is _______.

A. price unbundling

B. escalator clauses

C. a harvest objective

D. a build objective...