Which is NOT true of an innovator

Innovators purchase products after careful reivew

Marketing research is an investment that only generates when...

Results are used in management decisions

When setting price, most important is alignment with...

A customer's perception of the products value

Step 5 in Marketing Planning: Evaluate Performance begins with...

Reviewing objectives using metrics

Select the option that best describes lifetime value:

Customer relationships perspective based on over lifetime profitably

Integrated Marketing Communication

The goal of B2B firms is to...

Create value for their customers

Establishing the overall strategy and/or objectives...

is the first step in the marketing planning process

What is an administered vertical marketing system?

One dominant channel controls the channel relationship

When Ivy Business added certificate programs, DM-based MBA's, & online business analytics degrees, they were

using segmentation, positioning, and targeting

One strategy to avoid translation issues on a global brand is to...

Come up with a brand name that has no meaning anywhere

Which is TRUE of the early majority? The early majority...

Waits for product bugs to get worked out before purchase

Monster Energy's target market is young men. They use demographic segmentation in order to

Describe the age of the target market

Retailers send sales information via EDI to manufacturers. This is a...

Vendor-managed inventory system

One characteristic of brands like Nike and Patagonia is that

The strong brands protect the company from competition

Which is NOT true of qualitative research

Qualitative research does not produce data

Which statement about personal selling is FALSE

Personal selling requires a minimal investment

Which is true: The marketing research process...

Contains 5 steps that may not be executed in order

Which is NOT true of Product Life Cycle

The time expected at each stage can be predicted using metrics

The steps to the strategic marketing planing process...

Includes 5 steps that may not be completed sequentially

Which question is part of the "Ethical Decision Making Framework"?

Would I want this in the headlines of local paper?

Which is NOT true of segmenting, targeting and positioning? STP...

Produces three independent strategic options to markeing decision makers

Which is NOT part of the supply chain information flows?

Sale data is added to the consumer's profile

Positioning involves defining the marketing mix...

provides clear, distinct understanding of a product compared to competitors

The complete set of product offered by a firm

Why do supply chains work?

Each intermediaries wants something from the others

To capture additional market share, HydroFlask came out with vibrant colors that appealed to teenage girls.

Segmentation, Targeting and Positioning

studbud

Fall 2019 Final Review

54 termsStudBud Administration73 plays

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Questions 54

Answers

1
Which is NOT true of an innovator
The opinions of Innovators often influence other buyers
Innovators purchase products after careful reivew
Innovators want to be first to have a product
Innovators are willing to pay a premium for a product
2
Growth Strategy: More investment in current strategies
Marketin Penetration
Marketing Development
Diversification
Product Development
3
All of the following happen during of product launch except...
Setting price
Product positioning
Selecting a target market
Determining the marketing budget
4
Marketing 2 or more brands on the same package or promotion
Joint Venture
Cross Promotion
Multi-Target Positioning
Co-Branding
5
Marketing research is an investment that only generates when...
Results are used in management decisions
Metrics show a positive return
Project deadlines are met
Segmentation alignes with results
6
When setting price, most important is alignment with...
Closest competitors or product substitutes
Purchasing power parity
A customer's perception of the products value
Revenue and profit goals
7
When two or more firms join to reach a target audience
Multi-Target Positioning
Joint Venture
Co-Branding
Cross Promotion
8
Political climate, technology, and social trends...
Is the OT of SWOT
Rarely happens in global organizations
Is the same in the domestic and international markets
Reflects the objectives of the promotional mix
9
A group of products that the consumer thinks of as similar or associated together
Product Mix
Promotional Mix
Product Line
Marketing Line
10
Step 5 in Marketing Planning: Evaluate Performance begins with...
Adjusting the target market
Determining price sensitivity
Reviewing objectives using metrics
Modifying promotional strategy
11
Brands can be owned by...
Any firm in the supply chain
Retail chains
Product manufacturers
Vendors and product manufacturers
12
Why do global marketers work to simplify distribution channels?
To avoid tarriffs
Minimize trade deficits
Reduce costs
Confirm with trading bloc agreements
13
Select the option that best describes lifetime value:
Maximization profits during a products maturity stage
Customer relationships perspective based on over lifetime profitably
Sum of all transactions based on market segement
The investment needed to convert prospect to customer
14
IMC
Integrated Marketing Communication
Internet Marketing Collaboration
Internet Marketing Communication
Integrated Marketing Collaboration
15
The goal of B2B firms is to...
Leverage data flows and inventory tracking
Reduce derived demand
Create value for their customers
Maintain buying center accountablity
16
Bonnie is setting the price of her cupcakes similar to her competitors. This is called...
Competitive Pricing
Points of Parity
Price Skimming
Competitive Parity
17
Establishing the overall strategy and/or objectives...
determines price sensitivity
has little influence on the marketing plan
is the responsiblity of executive leadership
is the first step in the marketing planning process
18
A marketing plan includes all of the following EXCEPT
Product Concept, Design & Strategy
Communication & Promotion Strategy
Pricing Information
Production Plan
19
What is an administered vertical marketing system?
Intermediaries share a common marketing channel
One common contract that defines the channel relationships
One dominant channel controls the channel relationship
Channel power equally administered
20
When Ivy Business added certificate programs, DM-based MBA's, & online business analytics degrees, they were
using an undifferentied marketing strategy
saturating the business market
using segmentation, positioning, and targeting
using a diversification growth strategy
21
One strategy to avoid translation issues on a global brand is to...
Come up with a brand name that has no meaning anywhere
Focus on the feature and benefits to minimize the brand
Adhering to UN Convention on Naming Rights
Using words and concepts that have similar global meanings
22
Craig works for a company that sells carpet to home builders.
C2C
C2B
B2C
B2B
23
To enter the Chinese market, Oreo reduced the sugar content of the cookie, this was part of their...
Global product strategy
Domestic product stategy
Global retail strategy
Product innovation strategy
24
Which is TRUE of the early majority? The early majority...
Only adopts the product if there is no other alternative
Has high tolerance for risk
Waits for product bugs to get worked out before purchase
Likes to be first
25
What is POS?
Personal option sales
Piece of Shit
Purchase offer sale
Point of Sale
26
Monster Energy's target market is young men. They use demographic segmentation in order to
Describe the age of the target market
Include eco-conscious young people in the target market
Identify the best distribution channels for the target market
Focus on the high-energy lifestyle of the target market
27
Retailers send sales information via EDI to manufacturers. This is a...
Cross-docking distribution center
Quick response inventory system
Horizontal channel membership
Vendor-managed inventory system
28
Marketing affects various stakeholders. Who is at the center of all marketing decisions?
Marketing or Advertising Agencies
Supply Chain Intermediaries
Marketing Analysts
The Customer
29
Evaluating global infrastructure includes of the following EXCEPT
Retail channels
Roads
Internet
Populations demographics
30
The internal environment is reflected in what 2 quadrants of a situational analysis?
Opportunities and Threats
Strengths and Threats
Strengths and Weaknesses
Strengths and Opportunities
31
One characteristic of brands like Nike and Patagonia is that
The firm has to pay more in brand taxes due to brand equity
The strong brands protect the company from competition
Well known brands are gauarenteed success with new products
High brand awareness means less investment in the promotional mix
32
Which is NOT true of qualitative research
Qualitative data is used to clarify research problems
Qualitative includes focus groups, in depth interviews, ethnography
Qualitative is more informal than quantitative research
Qualitative research does not produce data
33
Which statement about personal selling is FALSE
Personal selling provides information and advice to consumers
Personal selling adds value through strong relationships
Personal selling is a 2-way communication
Personal selling requires a minimal investment
34
Which of the following is one of the 4 basic growth strategies?
Market Development
Market Saturation
Market Diffusion
Innovation Diffusion
35
Which is true: The marketing research process...
Has 5 objectives that can be executed simultaneously
Is not a defined process
Contains 5 steps that may not be executed in order
Follows 5 sequential steps executed in order
36
Which is NOT true of Product Life Cycle
Most Consumer Packaged Goods at groceries are at the Maturity stage
The stages often reflect market place trends
The time expected at each stage can be predicted using metrics
Not every product follows the same lifecycle curve
37
The steps to the strategic marketing planing process...
Includes 5 steps that may not be completed sequentially
Varies depending on the industry
Is a guideline that is adapted to meet the firm's needs
Includes 5 sequential steps
38
Which question is part of the "Ethical Decision Making Framework"?
How do I make this go away?
Would I want this in the headlines of local paper?
Which version of the truth best fits this situation?
Will this advance my career?
39
Which is NOT true of segmenting, targeting and positioning? STP...
Determines the product and promotion strategy
Produces three independent strategic options to markeing decision makers
Can be modified throughout the planning and evaluation process
Informs placement (distribution) decisions
40
Ethical decisions that are specific to the domain of marketing.
Business Ethic
Personal Ethics
Commerce Ethics
Marketing Ethics
41
Jessica was one of the last to buy a smart phone.
Early Majority
Late Adopters
Late Majority
Laggards
42
Which is NOT part of the supply chain information flows?
Sale data is added to the consumer's profile
Point of Sale information sent to "buyers"
Point of sale data is aggregated for reorder information
Sales data is captured at POS
43
Price =
Delivering Value
Capturing Value
Creating Value
Communicating Value
44
Positioning involves defining the marketing mix...
defines the schedule of costs related to price
provides clear, distinct understanding of a product compared to competitors
creates mutually exclusive market segments
qualifies market research objectives
45
Geographic regulations & licensing requirements creates barriers to which growth strategy?
Penetration
Market Development
Product Development
Diversification
46
The analysis of customer purchase history in order to uncover buying patterns in consumer behavior.
Secondary Data Collection
Experimental Research
Data Mining
Quantitative Mining
47
The Marketing Mix
The variety of product lines within a product category
Decisions about which promotional element to use and when
Product, price, promotion, and placement
The complete set of product offered by a firm
48
Which type of product is most likely to fundamentally change consumer preferences?
Extended Decision Making
Breakthrough
Shopping
Identity
49
Why do supply chains work?
Each intermediaries wants something from the others
More intermediaries leads to more revenue opportunities
Transactional relationships lead to independence
EDI systems work best with more intermediaries
50
Product =
Creating Value
Delivering Value
Communicating Value
Capturing Value
51
To capture additional market share, HydroFlask came out with vibrant colors that appealed to teenage girls.
Undifferentiated Marketing
Perceptual Mapping
Integrated Marketing Communications
Segmentation, Targeting and Positioning
52
The higher the perceived risk, the more likely the consumer is going to
Accelerate the purchase process to "get it over with".
Engage in extended problem solving.
Respond to reminder advertising.
Will experience cognitive dissonance.
53
Inventory Management is all about balance between...
Expanding distribution channels vs. managing supply chain costs
Managing inventory for customer demand vs managing cost of inventory
Bringing on new product launch vs maintaining established product lines
Using EDI vs Using POS
54
Target Return Pricing
Designed to product a specific retun on investment
Uses price to stimulate gains in market share
Designed to use price to stimulate a certain level of sales
Uses price to stimulate a certain level of sales

Fall 2019 Final Review Flashcards | StudBud