Old Test

Question 1

What was Nike named after?

Answer 1

The Greek goddess of victory

Question 2

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

Answer 2

Custom

Question 3

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

Answer 3

Inelastic

Question 4

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

Answer 4

They are able to sell fewer shoes to break even

Question 5

In the means-end chain, attributes…

Answer 5

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

Question 6

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

Answer 6

Total fixed cost divided by contribution per unit

Question 7

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

Answer 7

Had developed more extensive channels of distribution

Question 8

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

Answer 8

Focusing on too narrow a target segment

Question 9

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

Answer 9

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

Question 10

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

Answer 10

The fixed and variable cost together are greater than their revenue

Question 11

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

Answer 11

Kinesiology

Question 12

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

Answer 12

Price minus variable costs per unit

Question 13

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?

Answer 13

Countertrade

Question 14

Demand is inelastic when

Answer 14

Customers are not sensitive to changes in price

Question 15

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

Answer 15

Decrease, decrease, increase

Question 16

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

Answer 16

Tiger

Question 17

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

Answer 17

Basketball shoe market

Question 18

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

Answer 18

Values

Question 19

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

Answer 19

Fixed, variable

Question 20

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

Answer 20

The running boom

Question 21

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

Answer 21

Ethnocentrism

Question 22

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

Answer 22

Cross-elasticity of demand

Question 23

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

Answer 23

Psychological benefits

Question 24

Break-even is

Answer 24

Where total revenue equals total cost

Question 25

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

Answer 25

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

Question 26

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

Answer 26

Attributes

Question 27

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

Answer 27

Paul fireman

Question 28

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

Answer 28

Fixed

Question 29

Service and developing trust are the key components of

Answer 29

Vender management

Question 30

The means-end chain, benefits

Answer 30

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

Question 31

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?

Answer 31

$2000

Question 32

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

Answer 32

Medium

Question 33

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

Answer 33

Conventions

Question 34

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

Answer 34

Adolf Dassler

Question 35

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

Answer 35

Waffle sole

Question 36

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

Answer 36

Extensive channels of distribution

Question 37

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

Answer 37

Marketing concept

Question 38

What can be learned from the Airwalk story?

Answer 38

It is dangerous to lose touch with your core customer

Question 39

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

Answer 39

Decoding

Question 40

. How an innovation moves through a population is called

Answer 40

Diffusion

Question 41

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

Answer 41

High complexity

Question 42

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

Answer 42

Brand equity

Question 43

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

Answer 43

Mavens tend to be highly involved and offer useful insight

Question 44

Which of the following can explain the experience effect?

Answer 44

Economies of scale | Learning

Question 45

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?

Answer 45

Social benefit

Question 46

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?

Answer 46

Innovation

Question 47

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?

Answer 47

$16,000

Question 48

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

Answer 48

Messages were visual and focused on universal themes

Question 49

Anything that interferes with effective communication is called

Answer 49

Noise

Question 50

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

Answer 50

Growth