practive Flashcards
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
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
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
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
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
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
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
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
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
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
Existing customers who have visited the store in the last six months
Group of answer choices
Substantial
Identifiable
Accessible
Actionable
Accessible
Teens who shop at the Gap
Group of answer choices
Identifiable
Substantial
Accessible
Actionable
ubstantial, Identifiable, Accessible, Actionable
pottery barn
All households within a 50-mile radius of the store location
Group of answer choices
Actionable
Identifiable
Substantial
Accessible
all
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
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
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)
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.
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
It will satisfy the segment’s specific needs
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
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
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
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
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
More structured shoes with endorsement and sales
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
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.
