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Mc Test 3 > Old Test > Flashcards

Old Test Flashcards

1
Q

What was Nike named after?

A

The Greek goddess of victory

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2
Q

A norm passed down from the past that controls behavior is called a

A

Custom

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3
Q

Reebok, Nike, and Adidas shoes tend to be high involvement products generating brand loyalty. Typically, this makes demand

A

Inelastic

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4
Q

In the context of the break-even analysis, if Adidas is able to lower total fixed costs. (Assuming variable costs remain constant.)

A

They are able to sell fewer shoes to break even

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5
Q

In the means-end chain, attributes…

A

Are one type of knowledge consumers have about brands
And
Are designed to cause certain benefits

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6
Q

When calculating break-even point, the break-even point is…..

A

Total fixed cost divided by contribution per unit

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7
Q

One of the reasons Nike was able to outgun Adidas in the American markets was because Nike…

A

Had developed more extensive channels of distribution

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8
Q

All of the following were mistakes made by Reebok except which one?

A

Focusing on too narrow a target segment

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9
Q

Which of the following would NOT be an economic advantage of outsourcing (licensing agreement)?

A

Break-even point is raised, which makes the product more competitive

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10
Q

If the company is operating BELOW their break-even point what does this mean?

A

The fixed and variable cost together are greater than their revenue

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11
Q

Adidas used scientific research separating the relationship of anatomy to movement when developing their products. This field of research is called:

A

Kinesiology

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12
Q

In the context of calculating the break even point in units, contribution per unit equals

A

Price minus variable costs per unit

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13
Q

PepsiCo has been selling its drinks to Russia for a number of years in exchange for Stolichnaya vodka which it sales in the United States to those who want a different kind of refreshment break. What term does this example describe?

A

Countertrade

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14
Q

Demand is inelastic when

A

Customers are not sensitive to changes in price

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15
Q

By using outsourcing (licensing agreements) firms are able to ___ fixed costs, _____ the break even point, and ____ their profits

A

Decrease, decrease, increase

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16
Q

What shoes did the blue ribbon shoe company distribute to the United States

A

Tiger

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17
Q

What product market was Reebok pursuing that lead to one of their major mistakes

A

Basketball shoe market

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18
Q

In the means-end chain, which of the components composes the end of the chain?

A

Values

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19
Q

Your company makes bookcases, paying your factory manager is a ______ cost, and paying your factory worker is a _____ cost

A

Fixed, variable

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20
Q

All of the following are major trends anticipated by reebok, except which one

A

The running boom

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21
Q

The tendency to prefer products or people over ones own culture is called

A

Ethnocentrism

22
Q

What is it called when changes in price of one product effect the demand for another item

A

Cross-elasticity of demand

23
Q

In the context of means-end chain, these are immediate psychological outcomes of product use

A

Psychological benefits

24
Q

Break-even is

A

Where total revenue equals total cost

25
Q

Reebok lost market share to Nike due to their relationship with a key retailer, foot locker. What did foot locker want from reebok

A

They wanted exclusive rights to at least one show in reeboks line

26
Q

Your running shoe weighs 10 ounces and has a rubber waffle sole, these items are considered to be the products

A

Attributes

27
Q

Who was the person who obtained the North American distribution license for reebok

A

Paul fireman

28
Q

_____ costs of doing business will be in Incurred whether or not any sells Are made

A

Fixed

29
Q

Service and developing trust are the key components of

A

Vender management

30
Q

The means-end chain, benefits

A

Are positive consequences of product use
And
Include functional, psychological and social

31
Q

Desks r us manufactures desks that are used in college classrooms, the price of eac desk are $50. The variable costs are $20 and the fixed costs are $60,000, what is the break even point in dollars?

A

$2000

32
Q

What is a communications vehicle used to reach members of a target audience called?

A

Medium

33
Q

Rules that deal with the correct way to furnish ones house or wear ones clothes are called

A

Conventions

34
Q

Which person on the list below is considered the creative. No concerned with the design of the athletic shoe

A

Adolf Dassler

35
Q

Which of the following is a NOT a design that was created by Adidas

A

Waffle sole

36
Q

Which of the following is not a part of the market strategy of Adidas

A

Extensive channels of distribution

37
Q

In meeting the kinesiological needs of different athletes with a broad product line, ultimately Adidas was adhering to the ____________?

A

Marketing concept

38
Q

What can be learned from the Airwalk story?

A

It is dangerous to lose touch with your core customer

39
Q

. The process by which a receiver assigns meaning to the message

A

Decoding

40
Q

. How an innovation moves through a population is called

A

Diffusion

41
Q

All of the following will lead to a faster rate of product adoption except which one?

A

High complexity

42
Q

This refers to the added value that a certain brand name gives to a product in the marketplace.

A

Brand equity

43
Q

When researching particular topics or product categories marketers are interested in communicating with market mavens because:

A

Mavens tend to be highly involved and offer useful insight

44
Q

Which of the following can explain the experience effect?

A

Economies of scale

Learning

45
Q

You have one friend who is very hard working and another friend who always wants to have fun. Which component of the means-end chain describes the pattern of behavior these two consumers have?

A

Social benefit

46
Q

When the German soccer team won the 1954 world cup wearing Adidas shoes with interchangeable spikes, they created what important facet of Adidas strategy with their success?

A

Innovation

47
Q

Your company manufactures chairs, the cost associated for each chair are wood for $15, nails for $2, and paint for $3. Labor is $10 per hour, and it takes two hours to make the chair, the cost of electricity for one month is $500, the cost of rent is $3000. If the company produces 300 chairs for the month of January what is the total amount of the variable costs?

A

$16,000

48
Q

How did Lambesis develop a global strategy for Airwalk’s advertising message?

A

Messages were visual and focused on universal themes

49
Q

Anything that interferes with effective communication is called

A

Noise

50
Q

At which stage in the product life cycle do new competitors enter the market creating new variations of the product?

A

Growth

Mc Test 3 (2 decks)

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