Quiz 3A Theilmann - Quiz w/ solutions PDF

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Marketing 101 – Quiz 3 (a) Connor A. Theilmann

Name __________________________________________ Marcus Anderson, 3pm Thursdays

Recitation Section/Time ________________________________

TA name ________________________________________

DO NOT begin the quiz until instructed to do so. DO NOT look at any quiz except your own. NO NOTES are permitted. For Multiple Choice questions, circle the single BEST answer. Close your quiz and remain seated until we collect all the quizzes.

1. What is the most widely used method of qualitative research in marketing research?

Focus Groups

Push pull

D provide...

All of the above E

The Objective and Task Method

a. b. c. d. e.

Conjoint Analysis Observational Research Experimental Research Focus Groups Surveys

2. Incentives to the channel collaborators are _________, while incentives to customers are _______? a. Non-monetary; monetary b. strategic; tactical c. push; pull d. MIS; DSS e. brand based; price based

3. Perceptual maps _____________ a. Provide tactical advice on how to succeed within customer segments b. Forecast how consumers will respond to new offerings within customer segments c. Provide a visual representation of the relative importance of product attributes in a specific market d. Provide a visual representation of the relative perceived position of competitive products on pairs of dimensions e. None of the above

4. Conjoint analysis: a. Allows researchers to investigate price sensitivity b. Allows researchers to conduct “What if?” studies c. Provides information regarding the relative importance of product attributes in a specific market d. Uses a hypothetical product set to determine the relative importance of product features e. All of the above 5. As suggested in lecture, which of the following advertising budget methods is considered the best? a. Percentage of Sales Method b. Competitive Parity Method c. Market Share Method d. Objective and Task Method e. Unit Sales Method

6. Imagine a firm is launching a brand new consumer electronic product called the ZX1024. The firm must build brand awareness and market share because the product and category are brand new. a. How would the promotion objectives evolve as the product gains market share? b. How would the firm use the AIDA model to guide the communication strategy (make sure to identify the four aspects of AIDA)? c. What specific promotional tactics would you use at each stage?

A) The promotion objectives would evolve as following: in the beginning you would inform consumers of the product, then as it moves in the life cycle you need to push them to purchase, and then as awareness increases you need to remind them about the product B) Acquire attention by doing something special with the product, Maintain interest from consumer, Arouse the desire to buy , finally Action (purchase) from the consumer. C) In the beginning I would use personal salesmen to get the word out there for an electronic device, like windows has done for there products, and possibly guerilla marketing involving some celebrity doing something viral with the product to get the product into the space, as it gains some ground and product reviews from initial customers I would go more towards mass advertising and to get the product in front of more consumers at a faster rate, and would show them other people using the product to maintain the interest and also make my ad claims more believable. Finally, I would do a form of sales promotion involving contests or coupons to give the consumers a reason to go out and buy the product they have been introduced to. Because of this, I would probably initially price the product slightly above what I intend on selling it for so that the deal or promotion seems like a great deal....