AEM_240_Prelim_2_answer_key_Form_B

AEM_240_Prelim_2_answer_key_Form_B - AEM 240 Name:...

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AEM 240 Fall 2007 Marketing Prof. McLaughlin PreLim #2 FORM B Thursday, October 18, 2007 This exam consists of 2 parts 1. 33 multiple choice questions (only 30 count) 80 pts 2. Choice of 2 (only) of 3 Essays 20 pts 1 Name: ID # Marketing AEM 240 Costume Contest!!! Best idea for Halloween costume based on a marketing idea wins 3 extra points on the prelim! Describe how you would create your costume below:
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AEM 240 Fall 2007 Marketing Prof. McLaughlin 100 pts 1.      Which of the following choices most accurately represents the concept of           positioning? a. the basic premise of positioning is owning a word in your                competitors’ minds b. positioning is what you do in the mind of “the consumer” c. successful positioning is best characterized by product modification d. positioning is best understood as a 5-step process e. the 80/20 rule suggests that positioning increases sales by 80%                and decreases expenses by 20%  2. A patent gives a manufacturer of goods exclusive rights for 17 years.  A major difference  between goods and services is that:   a. services can be patented for the life of the creator.  b. services can be patented for 21 years.  c. services can be patented only for 10 years.  d. services cannot be patented.  e. there is no need to patent services. 3. When compared to a multiple-products-multiple-market-segments strategy, a one- product-and-multiple-market-segment strategy:   a. is a much more effective means of meeting consumers' individual                         needs.  b. is much more profitable.  c. is less expensive.  d. is a more effective way of meeting organizational objectives.                     e. has significantly higher distribution costs.   4.      Nike allows customers to visit its website and design a sneaker to their own personal  specifications.  This website would particularly appeal to people who exercise regularly  and are very aware of what shoe styles fit comfortably on their feet.  This would be  descriptive of which type of market segmentation variable? 2
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AEM 240 Fall 2007 Marketing Prof. McLaughlin a. psychographic  b. demographic  c. socioeconomic  d. usage  e. behavior  5.    Between two and three percent of the population have some degree of allergic reaction,  usually mild, to preservatives used in salad bars.  Restaurants might consider people with  these "allergies" as a separate segment.  So these restaurants will need to have their  regular salad bar plus a special salad bar for the allergies segment.  This multiple product  and multiple market segment strategy would have the greatest difficulty meeting which of 
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AEM_240_Prelim_2_answer_key_Form_B - AEM 240 Name:...

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