D077 Pre-Assessment Questions and Answers Already Passed

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What uncontrollable marketing element provides user input as to how the company delivers upon its value proposition? ✔✔Consumer Feedback Which controllable marketing function should a company us... e to achieve its firm-level goals and to satisfy the target customers' needs and wants? ✔✔Product Which controllable element is included in the marketing mix? ✔✔Product A marketer introduces a tutorial video featuring the company's new cosmetic line. Which set of elements from the marketing mix is the marketer using? ✔✔Product and Promotion A realtor representing luxury offers pre-construction discounts to clients. Which part of the marketing mix does this approach represent? ✔✔PriceAn online consignment store offers free gifts with purchases within the next 30 days using an attractive and easy-to-use website. Which part of the marketing mix is represented by the company's website? ✔✔Place and Promotion An online consignment store offers gently used designer fashions and sends weekly text alerts to customers of new arrivals and popular items. Which element of a marketing mix is represented by this store's text alerts? ✔✔Promotion A local computer manufacturer offers a high-end computer with new graphic design capabilities. Which element of the marketing mix is represented but his offer? ✔✔Product A manager is researching an element of the marketing environment that the company cannot control. Which one of these elements is the manager considering? ✔✔Demographic What is an example of a controllable element that influences marketing decisions? ✔✔Promotional campaignsWhich action reflects the use of ethical marketing? ✔✔Supply chain transparency reporting A small town has two coffee shops. The shop owners agree to raise their prices for espresso drinks from $3 to $6 per cup because they are the only two shops in the market. Which illegal pricing tactic is being used? ✔✔Price fixing A woman visits a baby store, planning to buy a crib for $100. The salesperson tells her that the $100 crib is no longer available but a $250 crib can be purchased. the woman can see the $100 crib boxes on a shelf. Which pricing tactic was the salesperson attempting to use? ✔✔Bait and Switch An energy drink company is promoting the benefits of its caffeinated product without identifying the risks of consuming the drink. Which action should the company take to align its marketing with ethical practices? ✔✔Using transparent marketing A fitness application allows users to opt-out of its fitness reminder text messages but continues to send text messages for 30 days following the opt-out period. Users are not notified of this fact when they opt-out of the text messages. Which ethical marketing practice is the company violating? ✔✔Customer privacyA highway toll company has decided to charge no fees for car-pooling vehicles. Which element of the marketing mix is represented by this ethical decision? ✔✔Price A retailer offers all customers complementary, eco-friendly gift wrapping to add value to their holiday purchases. Which element of the marketing mix does this ethical decision-making address? ✔✔Product A marketing manager is conducting a situational analysis during the market planning process and needs to differentiate between controllable and uncontrollable elements. The manager decides to first identify the controllable elements. Which business element is the manager identifying? ✔✔Products A marketing manager would like to take advantage of factors outside the company to develop an effective marketing plan. Which factor does the manager need to consider? ✔✔Market forces Which business factors are external to an organization ✔✔Opportunities and threatsWhich SWOT analysis component is under a company's control? ✔✔Product budgets A manager seeks to help the organization make good portfolio-management decisions. Which tool should the manager use for this process? ✔✔BCG Matrix According to the logic of the BCG matrix, marketers should focus investment in the areas that will provide good returns and fund future growth. Which quadrant of the BCG matrix meets this guideline? ✔✔Star A manager is considering the economics of an industry's factors that determine how competitive, attractive, and profitable the market is for the company's products. Which planning tool is being used by this manager? ✔✔Porter's five forces model A company operates in an industry in which raw materials are scarce, and in which the vendors charge excessively high prices for raw materials. Which one of Porter's five forces is illustrated by this company's situation? ✔✔Bargaining power of suppliersA marketer selects the use of banner ads in order to achieve higher sales revenue. Which component of the marketing planning process is being represented by this action? ✔✔Tactic A company analyzes its internal and external environments, identifies the needs of its target market, and develops a plan for accomplishing its mission, objectives, and goals. Which component of the marketing planning process has the company developed? ✔✔Marketing plan Which component of the marketing planning process utilizes situation analysis to address the needs of the target customer? ✔✔Strategy What is a limitation of primary data sources? ✔✔Requires expertise in data collection Which ethical guideline should marketers keep in mind when collecting primary data content? ✔✔Maintaining data transparency Why should marketing researchers follow best practices for ethical considerations? ✔✔Ensure respect for respondents and integrity of the data collectedA smartphone company has great brand loyalty but customers have become increasingly frustrated with the lack of new features. The company determines that adding new features will increase sales. Which growth strategy is the company using to achieve higher sales? ✔✔Product development An apparel company became the number-one provider in the US. New customers had switched to this company's clothing line instead of buying from competitors. Which strategic opportunity did the company use to achieve this goal? ✔✔Market Penetration A marketing manager for a US puzzle factory plans to work with a t0shirt designer to add a puzzle t-shirt to his existing puzzle products to enter the Japanese market. Which growth strategy is being used by this company? ✔✔Diversification What is a challenge of a Customer Relationship Management (CRM) system? ✔✔It focuses on data that reflects majority preferences. Which customer has the lowest customer lifetime value (CLV) rate? ✔✔One time customer with a huge purchase Which equity driver involves assessing the worth of a company's product? ✔✔ValueWhich equity driver involves assessing the uniqueness of a company's product from its competitors? ✔✔Brand A marketing department is reviewing a new Super Bowl ad for the company with the goal to reach the largest possible audience. Which marketing approach is being used? ✔✔Mass Marketing A company needs to effectively reach the target market with the right products, services and messages. Company leaders suggest reducing the consumers into smaller groups to streamline the process. Which concept is being illustrated? ✔✔Market Segmentation Which component must the marketing team create to effectively target each segment of the consumer market? ✔✔Marketing Mix Which action includes selecting a segment to serve as the focus of the marketing team's efforts? ✔✔TargetA mobile phone carrier markets pricing plan to its customers differently depending on how much data the customers use each month. What type of segmentation strategy is the mobil phone carrier using? ✔✔Product-related What type of marketing is a company using if their efforts are directed towards a specific group? ✔✔Target Which factor is used more efficiently when a target market has been identified? ✔✔Fiscal Resources A mattress retailer sells a variety of quality mattresses. The company wishes to reach a large customer base by offering graduated rebates to different customers depending on the size and quality of the mattress purchased by the customer. Several commercials are developed to highlight each mattress along with its accompanying rebate. What type of targeting strategy is being used by the mattress retailer? ✔✔Differentiated A consumer laundry detergent manufacturer makes several types of laundry detergents and wishes to create commercials for each of the products showcasing each product's strengths. What type of targeting strategy is being used by this consumer laundry detergent manufacturer? ✔✔DifferentiatedA customer reviews clothing items on an e-commerce site. The customer wants to be seen as current and trendy. The site stresses the value and durability of the clothing it sells, so the customer moves on to another site. What is the primary reason this customer left this website? ✔✔The customer's idea of fashion was not reflected In its ads and product literature, Phone A brand commonly compares its products and their operating systems against Phone B and their operating system. Which positioning strategy is being used by the Phone A brand? ✔✔Competition A realtor wants to sell luxury vacation homes and would like to identify potential buyers. What must the realtor understand to target this group? ✔✔How buyers arrive at the decision to purchase a luxury vacation home A customer is searching for a book on Ireland in a used bookstore that specializes in travel biographies. She wants to purchase the book as a birthday gift for a friend who has special memories of a trip to Dublin. What element of consumer behavior is influencing the customer's purchase? ✔✔EmotionA marketer developed a makeup tutorial video using the company's new cosmetic line designed to diminish dark circles around the eyes. Which stage of the consumer decision-,aking process is the marketer seeking to achieve? ✔✔Problem and opportunity recognition An individual bought a premium computer but is now concerned that it will be obsolete in a couple of months after a friend mentions that a newer version will be coming out soon. The individual wishes that the purchase had been delayed until after the new version comes out. Which form of dissonance is this individual experiencing? ✔✔Post-Purchase Which personal influence is related to physiology, safety and security, love and belonging, esteem, or self-actualization? ✔✔Need Which interpersonal influence group is critically important as a consumer unit and has a major impact on attitude and behavior toward brands? ✔✔Family Which step of the complex decision-making process is involved after buy? ✔✔Post-PurchaseA customer wants to purchase a novel for a flight that departs in less than an hour. The customer quickly searches for reviews to determine which book has the most positive ratings. What type of problem-solving is being used by this customer? ✔✔Limited A company designs a loyalty program for its customers who purchase their products every week. What type of problem-solving process do these customers exhibit? ✔✔Routine A company publishes its environmental and social products monthly on its website. What type of ethical behavior is being practiced by this company? ✔✔Transparency A sales representative interacts with a prospect by asking insightful questions that help the prospect identify the specific requirements of their needs. Throughout the process, the sales representative interacts with the prospect in a partner-type fashion. Then the sales representative recommends the product that represents the best value match the company has to offer. The prospect responds by trusting the sales rep for continued, ongoing advice. Which selling approach was used to meet this prospect's needs? ✔✔Consultative selling Which types of points are blogs, wikis, and social media that companies use to build and sustain relationships with the customer? ✔✔TouchWhat is one factor a company should consider when designing a team selling approach? ✔✔How rewards will be distributed A salesperson sends a recorded sales pitch to potential clients through mobile phones. Which selling method is described in this scenario? ✔✔Telemarketing Which activity is conducted by salespeople but not marketers? ✔✔Determine the consumer's risk tolerance for the purchase Individuals A and B are negotiating Individual A's pay package with multiple forms of pay and benefits to be discussed and agreed upon by both. While the goals are not compatible, Individuals A and B will have a long relationship as boss and worker which must be taken into account during their negotiation. Which approach to negotiation should these two individuals adopt? ✔✔IntegrativeAn individual was hired by a firm and will negotiate a salary package soon. In preparation, the individual is researching what similar jobs in the area are paying. Which stage of negotiation is being illustrated by this individual? ✔✔Investigation Individuals A and B had to share one administrative support assistant between the two departments, and due to an increase in sales, the need for administrative support grew in each department. The two resolved the work time issue of the administrative support assistant for each department by emphasizing problem-solving and integration of each other's goals. Using this style created a win-win solution for both departments. Which style of handling conflict was used by these two individuals? ✔✔Collaboration A company is purchasing a product. This decision involves a large number of participants and the collection of a great amount of information. The product is expensive and there are high risks associated with the purchase. Which type of Business to Business (B2B) buying situation is this? ✔✔New TaskA sales representative is told by a client company "To prepare for our next month's production, order the same quantity of the same product that we ordered for this month's production but change the color from blue to red." Which type of Business to Business (B2B) buying situation is this? ✔✔Modified Rebuy A sales representative calls on a company and is told, "We will order the same product and quantity that we ordered last month, but please have the product delivered to our western plant instead of our eastern plant." Which type of Business to Business (B2B) buying situation is this? ✔✔Modified re [Show More]

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