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Quiz quiz 2 Flashcards | StudBud
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Quiz quiz 2
Quiz quiz 2
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Flashcards
17 cards
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Questions
17
Answers
1
All of the following are BENEFITS of incremental innovation
EXCEPT
Enable the firm to gain first mover advantages
For existing excess capacity utilization
Product/service ideas easy to sell
Help companies remain competitive
2
Tribal market segmentation is more effective in social media platform
False
True
3
The following are TRUE for radical innovations
EXCEPT
Based on discontinuous technology
Most likely to be adopted by market followers
destroy existing products
High risk and high return
4
All of the following criteria help marketers to determine the attractiveness of a chosen market segment
EXCEPT
Substantiality
Customer migration
Accessibility
Measurability
5
Because of the following new product/service innovation is important for marketing strategy
– EXCEPT
‘Product’ is the most important element of the marketing mix
High-value adding innovations boost sales revenue
A firm’s R&D expenditure will determine the extent of innovation undertaken
If you don’t innovate competitors will easily beat you in the market
6
According to the high-tech adoption theory by Moore (1991) ALL of the following cause a ‘chasm’
EXCEPT
Products are not marketed by celebrities
‘Pragamatists’ (mainstream market) are sceptical about your new technology
High-tech start-up company owners’ lack of marketing capabilities
A communication gap between early market and the mainstream market
7
All of the following statements are true for product/service positioning EXCEPT:
Positioning occurs in the potential customer’s (prospect’s) mind
A USP captures the positioning strength of the firm
Consumer’s mind is ready to accept all advertising messages it receives
Positioning against competitors’ product is the most effective approach
8
Facebook is the mostly used social media platform by active users
True
False
9
The following statements are TRUE for innovation
EXCEPT
Innovations are predominantly technology-based
Newness and the extent of value creation are key criteria for innovation
Customer’s perceived value determine the market acceptance of an innovation
Value creation’ represents the problem-solving capacity of an innovation
10
Social media is likely to totally replace the traditional marketing communications
False
True
11
The following are the suggested key benefits of social media marketing,
EXCEPT
All social media provide equal exposure and reach to target market
Build brand awareness
Increase sales through faster sales promotion
Customers having positive experiences will recommend the brand to others
12
All of the following are
BENEFITS
of market segmentation and targeting,
EXCEPT
Serve every market segment in a chosen market
Avoid waste coverage of scarce marketing resources
Align a market offering exactly to the desired target segment
Determine the attractiveness of a chosen segment
13
Please read the question
No reference site where technology can be seen in action
The product/service had no ‘early market’ success
Will the firm be around to provide after-sales services
The newness of the firm with no history
14
In terms of CREDIBILITY, ‘advertising’ is more effective than ‘publicity’
True
False
15
Please read the question
Easy access to trial the product
Less compatibility with currently used
Less complex to see the benefits
The new product is advantageous than the existing ones
16
High-tech start-ups try to make their first sale to an established market (USA, Europe) to gain legitimacy
False
True
17
‘SERVITIZATION’
in product marketing refers to – select
MOST APPROPRIATE
a total shift from product to a service
Adding services to a physical product
Integrating services to a product to be viewed as a service than a product
Adding value to a physical product
