Strayer University - Principles of Marketing MKT 100 Exam 1 (Chapters 1-8) Already Graded A

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Principles of Marketing MKT 100 Exam 1 (Chapters 1-8) 1. Hannah and Ellen rely on consistent messages received via word of mouth, and are older and more conservative than other customers of Produc... t X. Hannah and Ellen most likely most likely fall into which of the following categories? A late majority 2. The are a group of approximately 10-15% of the population who is so influential that the loss of one of these customers costs the firm more than the loss of later adopters. Early adopters 3. If a company wants to be innovative, which strategy are they most likely to use? Product development 4. What term refers to the group of people who are the most risk averse, skeptical of new products, and stereotypically lower in income? Laggards 5. In which phase of the Product Life Cycle is customer awareness getting stronger, and there may be some buzz in the marketplace? Market growth 6. Why can a store brand offer decent quality for lower prices? Lower advertising costs because they can advertise for free in the store 7. A brand name whose image is waning is less of a liability in which approach? House of brands 8. One way marketers get customers to relate to brands is by creating a brand , such as Apple’s classification as ‘exciting’ or how Gillette is action oriented. Personality 9. Harley Davidson user groups are an example of . A brand community 10. Which is an example of co-branding? Brembo brakes are in Aston Martins 11. are mostly comprised of experience and credence qualities. Services 12. A is the general term used to describe both goods and services 13. What does good variability consists of? The customization and tailoring of the service delivery for the customer’s unique needs 14. Alpha company makes items you typically see in a drug store. If they make toothpaste, which of the following would be expansion in the depth direction? Floss 15. The color of a new vehicle is an example of a quality. Search 16. A item is something that is purchased without much thought before the purchase. Convenience 17. Why is Chrysler’s imported from Detroit trademarked? The slogan is well associated to Chrysler’s brand. 18. Which phase of the vehicle purchase process generates word of mouth? Post-purchase 19. During the phase of the purchase process, the potential customer identifies that something is lacking. Pre-purchase 20. What is a classic marketing exercise that is used to declare that one’s own product is superior to the market leader? Blind taste tests 21. Most firms advertising’s goal is to enhance . Brand image 22. What can be marketed? Just about anything 23. and are the central players in the marketing exchange. Customer, company 24. A company’s marketing executives should assess the in terms of a general analysis of a business problem or opportunity the company is facing. 5Cs 25. Which of the following is NOT part of the 5Cs? Corporation 26. Newlyweds are most likely to spend money on which of the following? Furniture 27. Instead of trying to appeal to the entire marketplace, smart marketers and smart companies will try to find out . Which customers might like their product, and how to get the product into their hands. 28. means that each customer serves as his or her own segment. This approach sounds appealing from the customer point of view because the product would be tailored specially for each person’s idiosyncratic desires. One-to-one marketing 29. Considering a continuum from ‘mass marketing’ to ‘one-to-one marketing’, market segmentation is In the middle 30. means that all customers are treated the same. This approach might sound attractive because it simplifies the marketing task, but it is usually unrealistic because customers differ. Mass marketing 31. A form of comparative analysis where customers show their opinions of another firm’s strengths vis-à-vis their competition is a . A perceptual map 32. Potential strategic fit is a function of all of the following EXCEPT: Product prices 33. Fiat Chrysler is developing a marketing strategy for a new hybrid car and just discovered that their biggest competitor is launching a very similar product at almost exactly the same time. In a SWOT analysis, the competitor’s product would be a . Threat 34. Determining which segments to target for firms depends on an interplay between issues. A quantitative and strategic 35. What are two perspectives a business can use in assessing each segment’s attractiveness in terms of its potential for targeting? Profitability and strategic fit 36. Marketers and senior managers like to see graphical depictions of where their brands are, and where their competitors are in the minds of their customers. What are these called? Perceptual maps 37. To write a positioning statement, you should answer all of the following questions EXCEPT: What are your weaknesses? 38. Jen is developing the positioning statement for a brand. In a meeting, the marketing team tells Jen that she has succinctly and clearly expressed the competitive advantage of the new brand. The team approves of the way Jen wants to express the brand’s competitive advantage, and tells her to continue her work on fully developing the positioning statement. Which element of crafting the positioning statement has Jen’s team just approved? Unique selling proposition 39. Operational excellence refers to companies that . Are good at production, delivery, price and convenience 40. The positioning statement can serve as an internal memorandum keeping all managers aligned as a basic guiding principle in all their collective decisions, so as to enhance the likelihood of in the results of those decisions. Consistencies. [Show More]

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