MKT 331 Chapters 5 and 6 Test with answers - Voorhees College (A grade/School graded)

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5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 1/17 Chapters 5 and 6 Test Started: May 24 at 4:54pm Quiz Instructions This quiz/test consist... of 40 questions. You will have two attempts and will be timed for 90 minutes. Question 1 2.5 pts Examine how customers in a specific segment rate the company's performance against a specific major competitor on an individual attribute or benefit basis. Assess the quantitative importance of the different attributes and benefits. Identify the major attributes and benefits customers value. Monitor customer values over time. Assess the company's and competitors' performances on the different customer values against their rated importance. Justin conducts a survey on behalf of his firm, Komatsu. In the survey, he asks prospects to rate Caterpillar and Komatsu branded tractors on their performance on attributes that are important to the customer. In which step in the customer value analysis is Justin engaged? Question 2 2.5 pts True False A marketer who wants to position his line of cameras as the "Cadillac" of all cameras is focused on connecting with customers.5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 2/17 Question 3 2.5 pts True False The overall rate of ad blocking on Web browsers is 22 percent. Question 4 2.5 pts retention defection value perception belief Another term for high customer ________ is customer churn. Question 5 2.5 pts reducing the rate of customer defection increasing the longevity of the customer relationship enhancing the growth potential of each customer through cross-selling making low-profit customers more profitable Sapphire Toys actually sells more than toys. It also sells branded clothing, music CDs, and books for children. This expansion of dealership sales offerings is an attempt to increase the value of the customer base by ________.5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 3/17 terminating low-profit customers Question 6 2.5 pts reduce the rate of customer defection make low-profit customers more profitable enhance the growth potential for each customer through cross-selling increase the longevity of the customer relationship focus disproportionate effort on high-value customers Many banks and phone companies now charge fees for once-free services to ensure minimum customer revenue levels. This helps banks to ________. Question 7 2.5 pts True False Activity-based costing tries to identify the real costs associated with serving each customer. Question 8 2.5 pts cost stream that exceeds by an acceptable amount his revenue stream revenue stream that exceeds the company's cost stream A profitable customer yields a ________.5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 4/17 cost stream that exceeds the company's revenue stream revenue stream that exceeds by an acceptable amount his cost stream revenue stream that equals the company's cost stream Question 9 2.5 pts 2Wheels sends birthday greetings to its best customers and gives them discounts on merchandise. 2Wheels has a club for its regular customers, organizing cycling events and parties for them. Though 2Wheels previously offered free delivery, it now charges for deliveries made outside the city. 2Wheels allows existing customers to upgrade to a newer model at less than the sticker price by trading in their older model. 2Wheels encourages customers to send in their suggestions for product improvement. Which of the following is a policy a store can adopt to make low-profit customers more profitable? Question 10 2.5 pts total customer cost customer-perceived value value-delivery system value proposition TBS Bikes has recently introduced a series of bikes called Surami. The core positioning of TBS Bikes is "speed." Surami is a five-gear bike, and apart from speed, the company promises to include other features such as safety, good performance, and pollution control features. This describes the ________ of the bike.5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 5/17 total customer benefit Question 11 2.5 pts touch point point of order point of difference pivot point point of parity A customer ________ is any occasion on which a customer encounters the brand and product - from actual experience to personal or mass communications to casual observation. Question 12 2.5 pts reservations frequent-stay programs room service laundry service All of these are touch points. Which of the following is NOT a touch point for a hotel? Question 13 2.5 pts5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 6/17 True False Unprofitable customers who defect to a competitor should be encouraged to do so. Question 14 2.5 pts expected value and total customer benefit perceived performance and expectation advertised outcomes and real outcomes past experience and present experience customer attitude and salesperson's attitude Total customer satisfaction is measured based on the relationship of ________. Question 15 2.5 pts Customer relationship management Customer lifetime value Customer profitability analysis Customer satisfaction analysis Customer-value delivery ________ is the process of carefully managing detailed information about individual customers and all customer "touch points" to maximize loyalty.5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 7/17 Question 16 2.5 pts are more powerful long-term loyalty builders than limited-membership clubs will not help a company attract customers from competitors prevent those with only a fleeting interest in a company's products from joining are useful for building a database of customers but are not very good as long-term loyalty builders are useless unless there are fees and membership conditions Club membership programs that are open to everyone who purchases a product or service ________. Question 17 2.5 pts Attract new customers to try out the company's products. Increase customer lifetime value by increasing the non-monetary costs of products. Enhance the growth potential of existing customers through cross-selling and upselling. Distinguish the causes of customer attrition and identify those that can be managed better. Make low-profit customers more profitable or terminate the relationship. Which of the following can a company do to reduce defection? Question 18 2.5 pts Customer profitability analysis is best conducted with the tools of an accounting technique called activity-based costing.5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 8/17 True False Question 19 2.5 pts Performance Value Quality Customer retention Customer loyalty ________ is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs. Question 20 2.5 pts performance quality conformance quality unique quality accuracy quality customer support When two brands of the same basic product deliver their respective promised quality, they are delivering ________. Question 21 2.5 pts5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 9/17 aspirational dissociative membership primary procreational A(n) ________ group is one whose values or behavior an individual rejects. Question 22 2.5 pts True False The expectancy-value model of attitude formation posits that consumers evaluate products and services by combining their brand beliefs according to importance. 2.5 pts HTML Editor Question 23 Elmer is focused on how much he likes the jingle for the advertised product and evaluates the product using his association of this brand with his positive feelings toward the song playing in the background. Explain how Elmer is processing the advertisement, using the elaboration likelihood model as a base.                         12pt Paragrap5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 10/17 Elmer is using the peripheral route processing of the elaboration likelihood model as a base had he paid attention to the message he would have used the central route. p 29 words 29 words  Question 24 2.5 pts True False With respect to a consumer buying situation that involves variety-seeking behavior, the market leader generally encourages variety seeking by offering lower prices or deals. Question 25 2.5 pts movies radio video or computer games Social classes differ in media preferences, with upper-class consumers often preferring ________ and lower-class consumers often preferring television.5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 11/17 magazines and books music downloads Question 26 2.5 pts toothpastes digital cameras packet of salt a milk carton furniture Which of the following products is most likely to be characterized by low involvement but significant brand difference? Question 27 2.5 pts actual ideal others' prohibitive suggestive Consumers often choose and use brands that have a brand personality consistent with how they see themselves, also known as the ________ self-concept. Question 28 2.5 pts5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 12/17 trait-role theory psychological constraint theory probability theory leadership model two-factor theory Which of the following theories developed by Frederick Herzberg distinguishes dissatisfiers from satisfiers? Question 29 2.5 pts True False When State Farm uses consumer research to create a mental map of consumers that indicates that consumers perceive State Farm as conservative, safe, responsive, and convenient, they are interested in subliminal perceptions. 2.5 pts HTML Editor Question 30 Describe the lexicographic heuristic used to make consumer choices.                         12pt Paragrap5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 13/17 When the customer chooses the best brand on the basis of its perceived most important attribute. p » span 16 words 16 words  Question 31 2.5 pts money time brand value self-concept IKEA has achieved global recognition by offering consumers leading-edge Scandinavian furniture at affordable prices. IKEA is delivering value to consumers who are ________ constrained. Question 32 2.5 pts With the ________ heuristic, the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative that meets the minimum standard for all attributes.5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 14/17 conjunctive lexicographic elimination-by-aspects primary secondary Question 33 2.5 pts primary group secondary group aspirational group dissociative group cognitive group For a high school student, Tim is highly concerned about environmental issues. He is a strong supporter of the garbage recycling and afforestation campaigns taken up by the environmental activists in his neighborhood. He wants to become a full time volunteer for their upcoming wildlife protection program and has even saved money to contribute to the cause. This group of environmental activists can be categorized under which of the following reference groups? Question 34 2.5 pts consumer-rating organizations Of key interest to marketers are the major informational sources to which the consumer will turn and the relative importance of each. Which of the following can be considered an experiential information source?5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 15/17 mass media acquaintances Web sites personal handling and examination Question 35 2.5 pts psychological repositioning competitive depositioning positioning repositioning biased positioning When a marketer tries to alter a consumer's beliefs about a company's brand to get the consumer to rethink a purchase decision, the marketer is using ________. 2.5 pts HTML Editor Question 36 Through market research a consumer gathers information about the competing brands of a product and their features. The consumer then advances through four sets with respect to brands before a decision is reached. What are those four sets?                         12pt Paragrap5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 16/17 Total set, awareness set, consideration set, choice set. p 8 words 8 words  Question 37 2.5 pts True False If a company finds that a consumer has chosen a competitive product over their company's offering, one way to get the consumer back could be by developing a strategy wherein the company "shifts the buyer's ideals" on one or more levels. Question 38 2.5 pts trademarking a brand name The Marlboro Man was depicted in the advertisements of Marlboro cigarettes as a rugged outdoor, tough cowboy type. This was done to establish what is called ________.5/24/2020 Quiz: Chapters 5 and 6 Test https://voorhees.instructure.com/courses/1197/quizzes/2479/take 17/17 Quiz saved at 7:30pm a brand personality co-branding a brand reference Question 39 2.5 pts True False When Chrysler decided to offer the PT Cruiser, they did so based on the recommendations of Ernest Dichter, who helped them unlock the code, or the unconscious meaning people give to a particular market offering. Question 40 2.5 pts total awareness consideration choice decision Brands that meet consumers' initial buying criteria are called the ________ set. Submit Quiz [Show More]

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