MKTG 3010 Week 6 Exam Assignment

MKTG 3010 Week 6 Exam Assignment | Tulane University

Question 1

Users, influencers, buyers, deciders, and gatekeepers are the major participants in the:

A.      political envicronment 

B.      business buying process  

C.      supplier selection  

D.      marketing mix  

E.       PEST analysis

Question 2

The business-to-business market structure differs from the business-to-consumer market in that it has:  

A.      no effect  

B.      far more customers with smaller orders 

C.      far fewer customers with larger orders  

D.      far fewer customers with small orders

Question 3

Business-to-business buyers have three major types of buying situations. They are:

A.      straight buy, tilted buy, modified buy  

B.      straight buy, modified rebuy, quantity buy  

C.      remodified buy, tilted buy, new buy   

D.      straight buy, modified buy, new task

Question 4

Bob’s Beanery wants to put in a new piece of conveyor belt equipment to automate his plant. The plant was started by his grandfather and he inherited some seriously old-fashioned equipment. Bob has never used a motorized conveyor belting system so this is something new to him. He will now be making a new task business buyer decision. Two of the stages he will review for consideration before purchase are:

A.      buying center and derived demand  

B.      problem recognition and supplier selection 

C.      e-procurement and modified rebuy  

D.      new tasks and system selling

Question 5

In the business market, what a business buyer routinely reorders something without modifications, it is considered a:

A.      straight rebuy  

B.      modified rebuy  

C.      system selling  

D.      undefined buy

Question 6

Like consumer purchasers, business buyer behavior is influenced by many factors such as the environmental, organizational, interpersonal, intergalactic, and individual elements.

A.      true 

B.      false  

C.      No answer text provided.  

D.      No answer text provided.

Question 7

Market segmentation involves dividing a market into distinct groups of buyers who:

A.      have different needs  

B.      have different needs and characteristics  

C.      may require separate marketing strategies  

D.      all of the above are correct

Question 8

Terry’s vehicle needs new tires.  The first brand that comes to mind is Michelin Tires from Marty’s Michelin Tire Shoppe. From previous experience, advertising messages, and research, Terry knows that Michelin tires are reliable and offer the options needed for the climate and conditions in which the car will be driven. Terry feels Michelin tires are the best. Because of this, Michelin has a position in Terry’s mind.   As defined by consumers on important attributes, a product’s position is:

A.      its position and placement on a store shelf  

B.      its attractive packaging style  

C.      the place it occupies in the mind of the consumer relative to competing products  

D.      the place and position it occupies in the amount of sales in the marketplace

Question 9

Bob’s Beanery wants to segment its customer base(s). One element to be considered as a segmentation variable for consumer markets would be:

A.      psychographic  

B.      targeting  

C.      differentiation 

D.      cooperatives

Question 10

At Netflix, 30% of its subscribers are responsible for 70% of its movie downloads. Netflix is planning to email that loyal 30% of its subscribers and offer them the option of paying more to have first access to new movies and faster download times. This is an example of:

A.      benefit segmentation 

B.      behavioral segmentation  

C.      gender segmentation  

D.      demographic segmentation

Question 11

Undifferentiated marketing contrasts to differentiated marketing in target marketing segments because:

A.      differentiated marketing is niche marketing and undifferentiated marketing is target marketing  

B.      undifferentiated marketing is concentrated marketing and differentiated marketing is unpositioned marketing  

C.      differentiated marketing is brand position marketing and undifferentiated marketing is concentrated marketing  

D.      none of these are correct

Question 12

Your text states: “BMW is the ultimate driving machine designed for driving pleasure.  This full positioning of this brand is considered it:

A.      competitive advantage  

B.      value proposition  

C.      product proposition  

D.      micromarketing

Question 13

The Campbell Soup Company is a nationally recognized brand. Besides its many soups, it also manufacturers Pace Picante Sauce, Pepperidge Farm cookies, breads and crackers; Prego Sauce, Swanson Broth, V8 juice and many others. All of these products are part of Campbell’s:

A.      marketing equity 

B.      product line  

C.      product modificatoin  

D.      line depth  

E.       product mix

Question 14

Proton is a highly successful manufacturer of branded power tools (Proton drills, Proton circular saws, etc.). It recently introduced a new Proton branded oatmeal, apricot, and peanut butter energy bar. The energy bar was a flop – sales were terrible and the company quickly pulled it out of stores. Of the answers below, which is the most likely explanation for this failure?

A.      Proton's energy bar line was not wide enough  

B.      Proton's product mix was not consistent  

C.      Proton's circular saw line was too long  

D.      Proton's product mix was too short

Question 15

A brand is a name, term, sign, symbol, or design or a combination of these that identifies the maker or seller of a product or service.  

A.      false  

B.      true  

C.      No answer text provided.  

D.      No answer text provided.

Question 16

A brand with high brand equity is a company’s valuable asset. This represents:  

A.      brand abandonment  

B.      the total financial value of a brand 

C.      brand neutrality 

D.      brand positioning

Question 17

Companies like Nike, Hershey's, and Macy's spend millions of dollars to keep their brand at the forefront of the consumer’s mind.  The most important message that needs to be regularly communicated to consumers is the brand’s position.  This is called:  

A.      brand shelf life  

B.      brand identity  

C.      brand length 

D.      brand management

Question 18

The product and service classifications for consumer products falls into four segments. The unsought classification means that the consumer:

A.      frequently buys this produce with little comparison shopping  

B.      frequently buys this produce with little comparison shopping  

C.      has little product awareness of where it is available and how it is priced  

D.      has strong brand preference and brand loyalty

Question 19

Services are intangible and cannot be part of a tangible product.  

A.      true  

B.      false  

C.      No answer text provided.  

D.      No answer text provided.

Question 20

Taylor has a great idea for a new product for the company.  Taylor knows that the product needs to fit within the organization’s strategy for growth. Before this groovy new product can get to the commercialization stage, which of the following stages of the new product development process is the first filter, serving to eliminate new product ideas that are inconsistent with the organization’s strategy?     

A.      applied diffusion 

B.      idea generation

C.      idea screening  

D.      business analysis  

E.       introductory diffusion

Question 21

Bob’s Beanery has worked hard for two years in research and development of its new product to tempt the palates of consumers. In the typical new product life-cycle structure, the new beanery product is expected to have:

A.      high sales with no impact on profits  

B.      many competitors and customers will be in the laggard stage  

C.      low sales and they will use the cost-plus pricing strategy  

D.      high profits and low sales

Question 22

Styles, fashion and fads are all the same spikes in consumer interest and enthusiasm in the rush to purchase a product.

A.      this is only true if you disregard fads  

B.      this is only false if you disregard fads  

C.      this isn't true at all  

D.      this is all true

Question 23

When consumers buy a product, they are buying more than the physical product. They are also buying the brand name, features, quality, packaging, product support, warranty, after-sale service and more.  This means they are also receiving something called the:

A.      augmented product  

B.      distribution 

C.      post-approach  

D.      segmentation bases

Question 24

Marty of Marty’s Michelin Tire Shoppe uses the pricing strategy of good value pricing because he offers a quality product with an equally quality service for installing tires, rotating tires, and general tire service. Good value pricing is considered:

A.      a combination of low quality for a middle-of-the-road price

B.      a combination of quality and service at a fair price  

C.      a combination of low quality and high price  

D.      a combination of quality and unrealistic price

Question 25

Internal and external factors can affect price decisions.  

A.      true  

B.      false  

C.      No answer text provided.  

D.      No answer text provided.

Question 26

Setting prices based on competitor’s strategies, costs, prices, and market offering is called:  

A.      value-based pricing  

B.      break-even based pricing  

C.      competitve pricing  

D.      external pricing

Question 27

Larry’s Lawnmower company wants to introduce a new mower into the marketplace just in time for the spring growing season when lots of folks will need their lawn mowed for the first time since winter.  He designed a good product, determined his costs, set his price based on those costs, and then he has to convince buyers of his new products' value. This is called:  

A.      cost-based pricing  

B.      value-based pricing  

C.      reference pricing                                            

D.      target pricing

Question 28

In setting prices, what is considered the simplest pricing method?  

A.      mark-up pricing  

B.      break-even pricing  

C.      competitive pricing  

D.      value-based pricing