MKT 100: Principles of Marketing Mid-Term Exam 1 Strayer University

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MKT 100: Principles of Marketing Mid-Term Exam 1 Strayer University Question 1 5 out of 5 points Most co-branding examples lean more toward being Selected Answer: ingredient brandin... g. Correct Answer: ingredient branding. Question 2 5 out of 5 points Which branding approach provides stronger financial outcomes to the company? Selected Answer: umbrella approach Correct Answer: umbrella approach Question 3 5 out of 5 points Which of the following elements is a quality associated with the brand name under the company's control? Selected Answer: packaging Correct Answer: packaging Question 4 5 out of 5 points Which of the following is not a physical quality of branding? Selected Answer: cognitive association Correct Answer: cognitive association Question 5 5 out of 5 points In order to best value a brand, how should it be measured? Selected Answer: by using means that best translates into a financial vocabulary Correct Answer: by using means that best translates into a financial vocabulary Question 6 5 out of 5 points __________ qualities are those that are difficult to judge even post-consumption. Selected Answer: Credence Correct Answer: Credence Question 7 5 out of 5 points An example of a tangible purchase is Selected Answer: clothing. Correct Answer: clothing. Question 8 5 out of 5 points What does good variability consists of? Selected Answer: the customization and tailoring of the service delivery for the customer's unique needs Correct Answer: the customization and tailoring of the service delivery for the customer's unique needs Question 9 5 out of 5 points Which of the following are pure goods? Selected Answer: DVDs Correct Answer: DVDs Question 10 5 out of 5 points __________ qualities are those attributes that may be evaluated prior to purchase, as the customer learns about the competitive offerings. Selected Answer: Search Correct Answer: Search Question 11 5 out of 5 points Ivan Pavlov with his salivating dogs is an example of what type of learning process? Selected Answer: classical conditioning Correct Answer: classical conditioning Question 12 5 out of 5 points B.F. Skinner discovered __________ with his studies on pigeons pecking at a target to get a food pellet. Selected Answer: operant conditioning Correct Answer: operant conditioning Question 13 5 out of 5 points With repetition and elaboration, associations can get into Selected Answer: long-term memory. Correct Answer: long-term memory. Question 14 0 out of 5 points A customer would be more price sensitive when buying gum than when buying Selected Answer: paper. Correct Answer: a laptop. Question 15 0 out of 5 points Marketers use Maslow's hierarchy of needs by Selected Answer: focusing their advertising on a particular level. Correct Answer: identifying their product with a certain level of needs. Question 16 0 out of 5 points What term refers to the likelihood that the target segment will buy the product? Selected Answer: sales potential Correct Answer: purchase intention Question 17 0 out of 5 points Which growth strategy is the toughest? Selected Answer: market penetration Correct Answer: diversification Question 18 5 out of 5 points During __________, a new product (good or service) is brought into the marketplace with heavy marketing spending. Selected Answer: market introduction Correct Answer: market introduction Question 19 5 out of 5 points The most stunning demographic trend in America and Western Europe is that the population is becoming Selected Answer: older. Correct Answer: older. Question 20 5 out of 5 points In which phase of the product life cycle is customer awareness getting stronger and some buzz occurring in the marketplace? Selected Answer: market growth Correct Answer: market growth Question 21 5 out of 5 points The ideal goal for the marketer is to find a(n) __________ group of customers whose needs it can easily and profitably meet. Selected Answer: untapped Correct Answer: untapped Question 22 5 out of 5 points Gender, age and income are all qualities of what segmentation base? Selected Answer: demographic Correct Answer: demographic Question 23 5 out of 5 points Considering a continuum from mass marketing to one-to-one marketing, marketing segmentation is Selected Answer: in the middle. Correct Answer: in the middle. Question 24 5 out of 5 points Entrepreneurs may need to approximate Prizm and VALS data, because they are Selected Answer: expensive. Correct Answer: expensive. Question 25 5 out of 5 points Company ABC is interested in better understanding how different groups of customers feel about its product. In order to do this, Company ABC will need to Selected Answer: segment the market. Correct Answer: segment the market. Question 26 5 out of 5 points Threats are Selected Answer: external and unfavorable. Correct Answer: external and unfavorable. Question 27 0 out of 5 points Which of the following questions characterizes targeting? Selected Answer: How can we identify segments? Correct Answer: Which segments do we want to be our customers? Question 28 5 out of 5 points Opportunities and threats are usually driven by changes in one of the Selected Answer: 5Cs. Correct Answer: 5Cs. Question 29 5 out of 5 points For market sizing, we start with the __________, and break it down into the __________ that are relevant. Selected Answer: total population, proportions Correct Answer: total population, proportions Question 30 5 out of 5 points A market is easier to estimate if the target market Selected Answer: is defined. Correct Answer: is defined. Question 31 5 out of 5 points In a marketing exchange, a customer Selected Answer: expects to pay. Correct Answer: expects to pay. Question 32 5 out of 5 points Fundamentally, the best marketers put themselves in the place of their Selected Answer: customers. Correct Answer: customers. Question 33 5 out of 5 points If you ask the average person, "What is marketing?," one of the things you might hear is Selected Answer: Marketing is sales and advertising. Correct Answer: Marketing is sales and advertising. Question 34 5 out of 5 points Marketers try to figure out what __________ want and then they try to figure out how to provide it and make money doing so. Selected Answer: customers Correct Answer: customers Question 35 5 out of 5 points What result do companies see from happier customers due to marketing? Selected Answer: Companies are more profitable. Correct Answer: Companies are more profitable. Question 36 5 out of 5 points What do the letters of USP represent? Selected Answer: unique selling proposition Correct Answer: unique selling proposition Question 37 5 out of 5 points Operational excellence refers to companies that Selected Answer: are good at production, delivery, price, and convenience. Correct Answer: are good at production, delivery, price, and convenience. Question 38 5 out of 5 points If a brand has an exclusive image, it would make good sense to avoid Selected Answer: overly promoting it. Correct Answer: overly promoting it. Question 39 5 out of 5 points Customer intimacy refers to companies that Selected Answer: are willing to tailor their products to particular customer needs. Correct Answer: are willing to tailor their products to particular customer needs. Question 40 0 out of 5 points When you are writing a positioning statement, if you don't have real differences and cannot see a way to create them, then you can create a difference based on Selected Answer: opinion. Correct Answer: image. [Show More]

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