BA 10 - Spring 2003 - Robinson - Module 1

BA 10 - Spring 2003 - Robinson - Module 1 - ugba 1o A“ 70...

Info icon This preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
Image of page 5

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 6
Image of page 7

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 8
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ' ugba 1o % A“ 70 Principles of Business HAAS SCHOOL OF' SUSSNESS Februa 2003 DWMMaMu 117 W mg mg, 30.3 Module1 Exam: Delighting-Customers David Robinson Make sure your family name comes first! Instructions 0 This is an exam—please do not talk 0 Your books and notes must be put completely -. if you are without eith — Ise your hand 0 While you are waiting to /e:- o 'n, enter the following on your Scantron: Name: LAST, First M. Suhkct 1234—5678 your Student Identification Number TestN0.: (A, B, C, or D} i This is the test Version—you won’t know this until you open the test Date: (1, 2, etc) This module number Hour: Your Section number: (101 116) 7.141%11“? "/5; fl 7 y}; W4? 1mg 5%,”??? 1 WI WCK4?W/ . ,- -, ”fig; w/jaeg-fi’ :35“. ~ 5‘ /~ mi? 5;; ugba-10 Module 1 . ' 1 McDonald’s of Singapore has a new offering, SINGAPORRIDGE, a breakfast dish which sells for about $1.75 US. If the Raffles Hotel (a luxury hotel) sells a similar dish for $15, why would anyone buy it? Dining at the Raffles has “image” value 1 There’s a small chance that you might meet someone famous at the Raffles hotel - c. Some people have more money than sense d. The Raffles provides less “customer delivered value” than McDonald’s does Some people like reading “car magazines” like Road & Track, but other people never even glance at these periodicals. Distinguishing between these two groups of people is an example of what type of segmentation? ' a. Demographic . Psychographic (lgukw‘kfl VU'gidI‘SMUS) c. Geographicx ‘ d. Product useX A recent TV campaign for Chrysler features the tagline “Drive = Love,” similar to the VW campaign “Drivers Wanted”. These little phrases are called what in the advertising business? a. Brand names>< b. Expressions of brand equity“ c. Buzzwords\< @ Brand essence statements A recent radio spot for AAA used humor to draw attention to the fact that the Association sells more than just towing. They sell many services, including Insurance. Insurances have often been considered part of a class of. goods that depend more on Personal Selling than advertising—which one? @ Unsought goods . Specialty goods c. Shopping goods d. Capital goods 2 , ugba-1O Module 1 5. Your uncle takes on a new line of goods that he plans to sell to 1other companies. They are classified as W” goods and you comrrfentt a e “key success factor” is: \5 U, ml. a. Ubiquitous distribution UV b. Having more features than competitors Getting on firms’ bid lists (1. Offering free samples 6. Most effective brand names have all except which one of the following attributes: .a. Short ® Means something rude in a foreign language c. Easily pronounced d. Distinctive 7. At which stage of the Product Life Cycle would we likely expect low (or negative) profits, but very little competition? Introduction b\ Growth c‘ Maturity ‘dg . Decline 8. The Marketing Concept includes which of these ideas: a. Firms should satisfy (or delight) customersV b. Firms should make a profit\/ c. Firms should make asmuch product as they can A and B are correct e. B and C are correct 733?. (Difficult) Mass Marketing usually isn’t very successful these days because it represents: ' a. No attempt to delight customers b. A strategy that was only effective at department stores » i! A failure to segment markets a An attempt to sell with no expenditure on promotion ugba-1O Module 1 3 10. You are the Marketing Manager for a product line that you realize is in the Decline Stage. Your choices are: a. Manage costs as low as possible \/ b. " Introduce new line extensionsX 0. Exit this line of business \/ d. . A and B . ’ @‘rj A‘an-etc ' ' 11. You go shopping for suits and notice that all of the manufacturers seem to be offering goods at about $200-$300 or at $700-$900, with nothing in the $400-$500 price range. This is an example of . a pricing tactic called: . a. Bundling, because you must buy the jacket and pants together @ Price lining c. Discounting because $200 is cheaper than $700 (1. Odd / even pricing \ \ ‘\.. 12. If a firm prices a product too low, what difficulty will it most likely encounter: v Q - It will be unable to meet demand\/ ' It will have unsold inventory c. _ It will make excess-profits and will be subject to extra taxes d. It will make a large profit (margin) on each unit sold 13. “Price signals quality,” when? (In general, according to lecture.) a When firms are selling to repeat customers 7 b. When firms are selling commodity goods {is Under conditions of uncertainty d. When firms are selling'imported goods 14. When manufacturers sell directly to consumers, which of the following is true: ® The manufacturer must providefl the functions ordinarily . offered by retailers ' - ,la./ The manufacturer can eliminate alL the costs of the functions of intermediaries ' X /e./ The manufacturer does not assume any of the functions ordinarily offered by retailers (1. None of the above 4 ugba—1O Module 1 g M In Less Developed Countries, we often observe (according to V’ 907. W lecture, as compared with the US) 5 a. Shorter channels of distribution, often with people buying directly from producers X W‘ Ana—WWW big 6m \wwtf-AI'S. “—p b. Longer channels of distribution with many intermediariez 16. WWW 18. 19. ‘tx Longer channels of distribution with no intermediaries % Intermediaries who have no practical function ‘ \MK of Supktsfiwm ' ‘ $11an wads Marketers have to make a selection of modality for physical M: wag-karma“ distribution. For example, in the Midwest many agricultural commodities are shipped in bulk by river barge. A downside of river traffic is it can only reach a limited number of cities, but the good part is: 21“ It’s fast It’s cheap ' c. It helps with bulk—breaking d. None of the above is true {am/M “Logistics” is a term used frequently these days, to mean “Physical WW distribution plus _ NW3 a. , Warehousing my, ‘19; Price setting W»? Wk“ 0. Manufacturing \(IUVv ‘ _ V @ Information Why is Personal Selling effective, according to lecture? Because using salespeople 1s very cheap compared with other methods of promotion hx Because salespeople can give exactly the same message to every customer © Be'cause salespeople can adapt the content of their presentation to each customer (1 Because salespeople spend almost all of their work time directly selling to customers ' Sales Promotion is widely used for consumer packaged goods because it’s effective—it gives customers a “reason to buy”; but a downside of this promotional technique is that it: R May rob sales from the current period $3 May move sales from future periods to the current period \ More than98 percent of coupons are redeemed d. Tends to have a delayed effect ugba-1O Module 1 5 20. Many firms have turned to event sponsorship as a method of Public Relations. If done correctly, event sponsorship . Costs nothing Q Effectively positions the firm through “associations” \\ , Effectively positions the firm by changing “features” (1. Does not result in any “editorial mentions” 21. There should be no promotional expenditure (according to lecture) without: a. Celebrity endorsement h Coming up with an award-winning ad c. Using more than one medium @3 A method to measure its effectiveness 22. The conventional wisdom for promotional message structure is that it should follow an order of ideas which is a match to which acronym? a. VERDI . PUCCINI é AIDA d. SIMBA 23. “Smart pricing” is the process of charging more to price—insensitive market segments—that is, charging more to people who are prepared to pay more. But Coca Cola famously caused a public relations nightmare by proposing: To charge more for Coke ® in Washington, -DC To make its machines charge more for drinks on hot days c. To make its machines charge more for bottles than cans ‘d.\ To charge more for Coke in Manhattan 24. Why would selling Symphony tickets be a good match for Internet Commerce? 21 Customers need to search for the exact “product” that meets their needs ., b. Symphony tickets are relatively high value\/ \‘K A Symphony tickets is a classic example of an unsought good a A and B are correct 6 A and C are correct 6 ugba-10 Module 1 25. Merchant wholesalers differ from brokers and manufacturers agents becauSe they: a. Advertise the goods that they sell (9, Own the goods that they sell /¢./ Design the goods that they sell )1/ ‘ Make the goods that they sell @26. You need a new sweater to go to class, and consider A&F, American Bag? J Crew, but buy the A&F sweater because it’s wow ‘ what all your e wearing. This is an example of what part ' of consumer b vior? WV 4‘ a. Psychological influen (fig (39* Personal influences w "‘ ’ ‘5 M‘ ' Social influences V‘- aLumM .. . " Cultural influences WWMM W “““R W‘— h’ l“ m ‘36qu W mhv‘i’o‘jeuwmkww _ 27. Target is an example of d cant retailer which has benefited from a major trend in the last few years: 3x Attracting the unemployed, who have surprisingly good disposable income © Attracting middle class and high income shoppers with merchandise that quickly follows fashion trends ‘c. Making discount pricing “rock—bottom” to compete with v warehouse stores like Costco (1. None of the above \7%/ Retailers in many parts‘of the world are not permitted to engage in many of the sorts of promotions that we take for granted in the US on the grounds of “unfair competition.” For example, according to a recent Wall Street Journal article, a German retailer was prevented from: 50% W 5K Giving free cigarettes to children b Giving free beer to customers who spent more than DM 100 . _ Advertising its once-a—year sale Mentioning in its advertisements that it was giving to an AIDS charity ' 29. Almost all manufactured goods are delivered by container now, and this leads to much less need for: y], wv‘”6 a. Trucks 7° b. Boats _ c. Warehouses None of the above ugba-10 Module 1 7 A major trend in marketing management has been to move away from transaction driven thinking towards a strategy that emphasizes long-term commitments between customers and suppliers; according to the text, this is called: ‘a. Long—term perspective marketing b\ Value-driven marketing (c, Relationship marketing . ‘ 0‘” d. Integrated marketin \fi. \“WWLW Mi NAKRWS , 31. Scott Adams is a Haas MBA grag‘uate who created the character “Dilbert.” You can buy various Dilbert products that are made and distributed by other companies that pay Mr. Adams a fee to use the character’s name. This is an example of a: \Q: National brand . b. Private label (or dealer) brand \ Stealth brand Licensed brand 32. Many firms keep records on all their customers, including a data stream that includes all transactions. For example when you swipe your CLUB CARD at Safeway, the store knows how many times you’ve shoffied with them this month. The accumulated collection of v transactions is known as and the process of analyzing it to detect patterns of consumer behavior is called WNW Q Q A data warehouse, data mining Data mining, a data warehouse ‘Q Customer knowledge, customer search ‘11. Customer identification, customer profiling 33. Retailers and wholesalers used to be known as middlemen, but the term used most often today is: a. Distributors b. Salesforce c. Agents Q) Intermediaries 34. This is version‘A; bubble in -A’- for this question and write “A” in the identification section of your Scantron. If you do ”at amu/er tbz': queytz'wszI [are tbepoz'rzt. No exceptions ...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern