BUSI 520 Quiz 2 Questions & Answers.

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BUSI 520 Quiz 2 Questions & Answers. • Question 1 ________ is a key industrial marketing strategy in bidding to build large-scale industrial products such as dams, pipelines, etc. ... • Question 2 How can a marketer overcome the negative effects of commoditization? • Question 3 Value Central has a partnership of high trust and commitment with certain suppliers and gives them access to its sophisticated and detailed daily, individual store-based sales data. In exchange, those suppliers are responsible for managing Value Central's inventory of their products. This relationship is best described as ________. • Question 4 ________ investments are those expenditures tailored to a particular company and value chain partner. • Question 5 Which of the following is a step in the straight rebuy buyclass? • Question 6 On an online ________, prices change by the minute. • Question 7 A ________ relationship is a cooperative one where the seller adapts to meet the customers' needs without expecting much adaptation or change in exchange. • Question 8 Sometimes a rise of only 10 percent in consumer demand can cause as much as a 200 percent rise in business demand for products for the next period. This is an example of ________. • Question 9 Which of the following companies used the slogan, "The Power to Know®" to connect with C-level executives in the largest companies? • Question 10 The approach to cost reduction that studies whether components can be redesigned or standardized or made by cheaper methods of production without adversely impacting product performance is termed as ________. • Question 11 Which of the following modes of entry into a foreign market involves the maximum commitment and risk? • Question 12 Which of the following is the first stage of the internationalization process that can induce firms to enter the international arena? • Question 13 Which of the following statements is true about licensing? • Question 14 Microsoft sold more than 60 million licenses and upgrades of Windows 8 in the first 10 weeks after its October 26, 2012, global launch. Marketing spanned 42 countries with TV, print, and banner ads, outdoor posters, and branded entertainment. They used a ________ approach for the launch. • Question 15 When Kraft blends different coffees for the British (who drink coffee with milk), the French (who drink it black), and Latin Americans (who want a chicory taste), it is engaged in ________. • Question 16 ________ is the sixth largest economy in the world, and it is expected to move into fourth place by 2050, meaning it would economically be larger than countries like Germany, Japan, and the United Kingdom. • Question 17 Forward invention is ________. • Question 18 When first-mover advantage is crucial and a high degree of competitive intensity prevails, the ________ approach is better. • Question 19 A marketer is interested in segmenting a business market based on urgency of delivery and the size of the order. Which of the following major segmentation variables would the marketer most likely use to assist with the task? • Question 20 General Motors, a leading American multinational automaker, sells cars for every purpose, budget, and personality. This is an example of ________ marketing. • Question 21 Which of the following statements about Gen Xers is true? • Question 22 In ________ marketing, the firm ignores segment differences and goes after the whole market with one offer. • Question 23 According to the ________ criterion for useful market segments, a segment should be the largest possible homogenous group worth going after with a tailored marketing program. • Question 24 Mature and reflective people who seek durability, functionality, and value in products are most likely to be categorized as ________ in the VALS system. • Question 25 If your assignment was to create a value proposition and product-price positioning strategy for each segment, based on the segment's unique customer needs and characteristics, you would be in which of the following steps of the segmentation process? • Question 26 Pampers divides its market demographically on the basis of ________ into prenatal, new baby, baby, toddler, and preschooler. • Question 27 When Coca-Cola determines the bottled-water competitors for its Dasani brand by identifying the products or sets of products with which a brand competes and which function as close substitutes, it is determining Dasani's ________. • Question 28 Which of the following statements about brand mantras is true? • Question 29 Which element of a brand story framework do Randall Ringer and Michael Thibodeau relate to the way the narrative logic unfolds over time, including actions, desired experiences, defining events, and the moment of epiphany? • Question 30 One common difficulty in creating a strong, competitive brand positioning is that many of the attributes or benefits that make up the points-of-parity and points-of-difference are ________. • Question 31 Brand mantras typically are designed to capture the brand's points-of-________, that is, what is unique about the brand. • Question 32 Subway restaurants are positioned as offering healthy, great-tasting sandwiches. ________ positioning allows the brand to create a point-of-parity (POP) on taste and a point-of-difference (POD) on health with respect to quick-serve restaurants such as McDonald's and Burger King and, at the same time, a POP on health and a POD on taste with respect to health food restaurants and cafés. • Question 33 Which of the following criteria relates to consumers seeing the brand association as distinctive and superior to relevant competitors? • Question 34 The goal of positioning is to ________. • Question 35 Names that become synonymous with product categories like Kleenex, Kitty Litter, Jell-O, and Xerox, need to ensure their brand names remain ________ so they can retain their trademark rights and avoid becoming generic. • Question 36 A brand ________ can be defined as any information-bearing experience a customer or prospect has with the brand, its product category, or its market. • Question 37 A ________ is a set of all brand lines that a particular seller makes. • Question 38 Brand ________ are devices that can be trademarked and serve to identify and differentiate the brand. • Question 39 Apple's iPod shuffle is an example of ________. • Question 40 With respect to the brand building pyramid, at which of the following "building block levels" would we expect the consumer to develop positive and accessible reactions? • Question 41 Brand ________ is the job of estimating the total financial worth of the brand. • Question 42 According to the BrandAsset® Valuator model, which of the components of brand equity measures the breadth of a brand's appeal? • Question 43 A niche specialist that specializes in one type of customer, like a value-added reseller that customizes computer hardware and software for a specific customer segment and earns a price premium in the process, is a(n) ________ specialist. • Question 44 ________ is a period of rapid market acceptance and substantial profit improvement. • Question 45 In 2006, Sara Lee spun off products that accounted for a large percentage of the company's revenues, including its strong Hanes hosiery brand, so it could concentrate on its well-known food brands. In this example, Sara Lee is employing a ________ defense strategy. • Question 46 After a couple of years of successful business, an experimental theatre company based in Aurora is unable to sell tickets for its theatre shows. They have been using profits from previous shows to run the business. The company is in the ________ phase of its life cycle. • Question 47 To satisfy customers, a(n) ________ marketer finds a stated need and fills it. • Question 48 During the ________ stage of a product's life cycle, sales show a downward drift and profits erode. • Question 49 Campbells is a newly established company that specializes in preparing healthy but tasty food for children under the age of 5. It is incurring huge production costs, nonexistent profits, and slow sales growth. The company is in the ________ phase of its life cycle. • Question 50 Epic Inc., a firm that produces chairs for offices, uses comparative advertising to inform consumers that its products offer the same features and quality as the competitor's. This is an example of a(n) ________ attack. [Show More]

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