BA 10 - Marketing - Spring 2001 - I-fi"r's=L MREWWNG...

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Unformatted text preview: I ' ., -fi----_--;"r_.'s=L . MREWWNG SPF-INO- 2.091 __ . 1 BA-1O Spring 2001 Module 1 "rt-33? or 1. In the Marketing Mix, “P for Place” stands for: a. we should decided which state to begin product launch b. W’e should decide which city to sell goods in c. Same as “Product Placement”—getting your goods shown incidentally on TV shows —- d. Channel of distribution ’1 2i \Vhich of the following is true about the selling ofindustrial (Business to Business) goods: a. Most are sold IhrOugh retailers b. Personal selling is never used for Industrial goods c. Most are sold directly from the manufacturer to the buyer , d. None of the above are true 3. Some wholesalers don’t actually take ownership of goods that they sell; they are called: a. Merchant wholesalers W b. Cash and carry wholesalers w—H—flt Brokers d. Nonstore retailers 4. “Positioning” means establishing a. A mission statement for Our Firm b. An image otour product in the minds ofour competitors An image of our product in the minds of consumers Rd. Shelt- space for our product in suitable stores 5. A prescription drug manufacturer advertises directly to consumers with the tag phrase: ”Ask your doctor about ...” This is an example of: a. A push strategyithe Firm is pushing medicines onto consumers “PH-Cb. A pull strategy——they want consumers to demand this product c. Has elements of both a pull and push strategy “75* . None of the above are true 6. Which mode of transportation is the cheapest? Q51. Ship (water carrier) b. Air c. Trucking d. Railroad 7. You can buy boots with the brand, “Caterpillarm” on them—they aren’t made by the same firm which makes the big yellow bulldozers. This is an example of: a. A national brand ‘ b. A store brand or “private label” rec} A licensed brand d “Parent” versus “product” brand BA-lO Spring 2001 Modulell 2 8. The stage of the Product Life Cycle when additional firms are most likely to enter a market is: a. Introduction Pb. Growth c. Maturity d. Decline 9. An in—class demonstration sold one lunch to a student for $1; then a second lunch was auctioned off for $11. The purpose of the demonstration was to show: a. Students should plan mealtimes around their classes better b. Students are pretty gullible (easily “conned”) c. Markets always come into balance with enough supply to meet demand 3rd. In any market, some customers are willing to pay more than others 10. In economics, being able to charge more than your competitors can for similar products is described as “being able to shift the demand curve up.” Harley-DavidsonTM is able to charge quite a bit more than similar motorcycles from other manufacturers, according to lecture because: -—-a. Harley has a “highly differentiated product” b. Americans will pay more for something US made c. Harley’s cost structure is much higher than the competition d. Harley has the most technologically sophisticated bikes 11. As a product manager, you determine that your product is in the Decline stage of the Product Life Cycle. Which of the following strategies would be reasonable? a. Declare a price war to “kill off” competitors b. Carefully manage the business to reduce costs c. Exit this line of business d. A and B are correct fie. B and C are correct 12. Brands are important because: a. They are required by the Food and Drug Administration ,__b. They represent the quality offered by a producer to consumers c. They allow consumers to see which products compete with one another d. None of the above is important ,fl3.i\\Vhen Internet commerce (“e—tailing") became a major force in US retailing, according to i i. lecture, Manufacturers’ brand names: a, Became very important wcame essentially irrelevant More largely replaced by Store Brands d. No longer had the same function for consumers \_ 15. 16. f4. BA—iO Spring 2001 Module 1 Marketing services: 4r Is impossible because services can’t be branded b. Follows the same rules as marketing tangible goods c. Requires different strategies than marketing tangible goods d. None of the above is true What’s most true of Expense Goods in the Business to Business (Organizational) market, from the point of view of the seller? a. It’s impossible to make a decent profit because margins (profit per item sold) are thin h. Margins are invariably fat c. Although margins are thin, overall profit may be high because volume is large and dependable d. Margins are quite often handsome because most firms just don't care about their expenses. In contemporary marketing, we say: “There is no such thing as Mar: Aimee/[71,137. Instead, most firms u.” a. Prepare separate market mixes to meet the needs ofall possible market segments b. Practice niche marketing instead c. Have abandoned the Marketing Concept .. Al. Prepare separate marketing mixes to target the most attractive market segments 17. An ATtSrT commercial (shown in class) shows a mom dropping her daughter off at college for the first time, and shows a variety ofAT&T products (phone card, mobile phone). AT&T used this commercial: a. To target teenagers orgy "fin-b. To achieve an emotional “feel good” position for its products ' 18. c. To promote its products as the disc0unt priced leader d. To manipulate people in the target audience AirCCCnt WALL STREETJOURNAI article reported that Venture Capitalists are often micromanaging the marketing and promotional strategies for young firms which they have funded, sometimes substituting their own personal feelings for professional advice or marketing research. For the funders, the most important thing is: a. Building the brand _,__.-b. Running at a profit c. Delivering a high»quality, reliable product d. {pereasing sales in the short term BA—‘IO Spring 2001 Module .1 4 J 19. A recent BUSINESS WEEK article talks about “-the power oFsmart pricing.” Smart pricing 2 2 2 ‘x‘ 0. 1. 2. —_. means: a. Raising yOUr prices regularly b. Deeply discounting all your prices .C- Customizing prices so some groups of customers pay more than others for broadly '- similar goods d. Having only one price, and advertising it heavily Chevron uses cute cartoon cars in its advertising and has sold models of the cars through gas stations. \Vhich oFthe following is true: a. Sales of the toy cars now make more profit for Chevron than their gasoline b. The toy cars are a flopn~no one wants to buy a product which advertises something c. Offering the cars has drawn more gas customers into Chevron’s convenience stores d. Chevron is quitting the gas business, and is only concentrating on toys now Although E—bay was set up for amateur collectors to trade in an on—line flea auction, many professional retailers are now using the service because: :1. It’s free b. Very few sellers are using it, so your product stands out c. h-‘Iany of the retailers are also collectors d. The customer acquisition costs are low Marketing is all about exchanges. What best describes the result ofa Freely made exchange? a. The winner takes it all b. \‘Wien one party wins the other one loses c. Both parties have to lose something \d) Both parties are better off 23. Firms that sell pagers have had a tough time recently, because digital phones can do the same job (as well as many other functions). The emergence of digitai phones as a [substitute good is considered to be part of: a. The competitive environment He firm’s internal environment Msocial and cultural environment d. The technological environment 24. The Four elements of The Marketing Mix, are: Place, Product, Packaging and Promotion Place, Product, Positioning, and Promotion Place, Product, Price and Promotion Place, Product, Packaging and Positioning P—FVETP 5 BA-1O Spring 2001 Module 1 25. Some people are fashion-conscious, while others care more about comfort. This is an example ofwhich type of market segmentation variable? a. Demographic b. Geographic c. Product use «_d. Psychographic 26. The industrial (or “organizational”) market consists of firms selling to other firms, or to the government. \Vhich of the following is true in the US: a. The Industrial market is about 1/3 of the Consumer Market b. The Industrial and Consumer markets are roughly equal _c. The industrial market is about 3 times the size of the Consumer Market rd. None ofthe above are true 27. What is true about Direct Promotion? fl.” It’s pretty cheap b. It’s pretty expensive (as compared with Mass Media advertising) c. It’s effective as part ofa Sales Promotion effort (such as a sale) /d.‘ A and C are correct (—4,... B and C are correct 28. When firms undertake Mass Media Advertising, they must make decisions about all except one ofthe following: a}. Media bl. Advertisment style (e.g. humor or comparative) c. Message (also called “copy thrust”) I d. \Vhich mailing lists to buy 29. Many advertising agencies work very hard to win awards for their commercials. It’s important to remember this: ' *‘- a. Ads that win awards may, or may not, lead to an increase in sales b. Ads that win awards never lead to an increase in sales c. Award—winning ads are always more likely than other ads to increase sales d. None of the ab0ve are true 30. One of the following is not considered part ofthe Promotional Mix, as defined in lecture: a. Mass Media Paid Advertising b. Personal Selling c. Packaging d. Direct promotion (mailers) e. Public Relations BA-iO Spring 2001 Module-1 6 31. Hertz, the car rental company, makes an effort to be sure that its branches worldwide use the same logo, name and black/yellow/white color scheme. In the vocabulary of advertising agencies, this is referred to as: n51stency o ' ” _..._.—« -;-€0fi315tenficyngw_d_~f 'Ffittfiq. t“ ""'-'C "‘I'magegeoasig-‘t‘éfiey.w Cl. Lookeconsistency 32. Personal selling is expensive, but it’s useful for one of the following product classes: a. Convenience goods b. Consumer durables, shopping goods in the Decline stage c. Consumer packaged goods in late Maturity stage W d. Industrial (organizational, Business to Business) Capital Goods 33. Internet retailers ("e-tailers”) are most likely to succeed, according to lecture, when: a. There is a very small number of SKU’s (Stock Keeping Units) in the product class [3. There is a very large number of SKU’s in the product class c. Consumers need a lot of information to make their choice u- d. A and C are correct e. B and C are correct 34. After investigating the expense of selling BA~10 t-shirts through local retailers, such as Ned's, you decide to “sell direct” to your customers. You should anticipate: a. Ineurring the expenses of taking on the functions Ofthe intermediary b. To capture as profit all the money you would’ve let Ned’s earn from stocking your goods c. You could not possibly provide the same level of service as Ned’s d. You’d necessarily have to outsource the intermediary functions 35. According to BUSINESS WEE}; Gap’s “clicks and mortar strategy” has been Successful because: a. The store and the web-site are kept strictly separate b. The web—site and stores are well-integrated c. Gap has the financial resources to back a flashy web-site nun cl. None of the above are true 36. Experience from Polaroid and Energizer campaigns shows that when a market follower (No. 2 brand in a market) advertises heavily: — a. The campaign may back-fire and just increase the sales of the No. 1 brand b. The campaign is most likely to make the No. 2 brand Surge ahead and dethrone the market leader — c. People don’t remember seeing the ads at all d. None of the above is true 37. This is version D; bubble in J) for this question andwrite “D” in the identification section of your Scantron. Ifjou do as! mini/er tbz‘r quertiondozt [are the paint. ...
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