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ugba-106 Fall 2006 Exam II I N S T R U C T O R [P] Are “police” questions: Not important truths about Marketing, but designed to test whether you attended lecture. 1 1. In the James Patterson case we learned that there are very few “blockbuster” novels, but very many books that sell a few copies every year. Companies such as Amazon and Netflix can make good money by serving the needs of the “few copies a year” market; according to the first lecture , this is referred to as: a. Monetizing an investment b. Niche marketing c. Marketing to the Long Tail d. Earning a Return on Marketing Ans. C L1 2. “I know half of all my advertising is wasted, I just don’t know which half,” is a quotation attributed to department store pioneer John Wannamaker from the 19 th century. According to lecture: a. No modern marketer would accept this statement b. This truism is still true today c. This statement no longer applies as department stores have lost their importance as a retailing channel d. Modern marketers have to take this statement to heart, and plan their promotional budgets accordingly Ans. A L1 3. Philip Kotler defined the tasks of Marketing Management as: a. Analysis, Planning, Implementation and Control b. Metrics, Meaning and Modality c. Metrics, Measurement and Message d. Awareness, Interest, Trial and Repeat Ans. A L1 4. [P] Why did BMW sell off its LandRover division to Ford Motor Company? 5. The Value Proposition underlies everything that marketers do. According to this construct, customers trade Time, Energy and Money for:
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ugba-106 Fall 2006 Exam II I N S T R U C T O R [P] Are “police” questions: Not important truths about Marketing, but designed to test whether you attended lecture. 2
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