Marketing Final Exam

And making purchase decisions third consumers will be

Info icon This preview shows page 1. Sign up to view the full content.

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

Unformatted text preview: will lead to the continuing growth of one-to-one marketing. ANS: First, the one-size-fits-all marketing of yesteryear no longer fits. Customers do not want to be treated like the masses. Second, direct and personal marketing efforts will continue to grow to meet the needs of consumers who no longer have the time to spend shopping and making purchase decisions. Third, consumers will be loyal to those companies and brands that have earned their loyalty and reinforced it at every purchase occasion. Fourth, mass-media approaches will continue to decline in importance as advances in market research and database technology allow marketers to collect more detailed information on their customers, not just the approximations allowed by demographics but the specific names and addresses. PTS: 1 Communication REF: 135 OBJ: 08-8 TOP: AACSB KEY: CB&E Model Strategy MSC: BLOOMS Synthesis 21. Explain what is meant by positioning. Describe the bases marketers use to position products and services. ANS: Positioning is a process that influences potential customers’ overall perception of a brand, product line, or organization in general. Firms use a variety of bases for positioning: ATTRIBUTE. Products may be associated with an attribute, feature, or particular customer benefit. PRICE AND QUALITY. Firms may stress high price as a signal of quality or low price as a signal of value. USE OR APPLICATION. Stressing use situations or special applications effectively positions the product with buyers. PRODUCT USER. This position base associates the product with a personality or type of user. PRODUCT CLASS. The product is associated with a particular category of products. COMPETITOR. Positioning against a competitor would be demonstrated by Avis Rent A Car positioning itself as number two compared to Hertz. EMOTION. Focuses on how the product makes customers feel. PTS: 1 REF: 135-137 Communication KEY: CB&E Model Strategy OBJ: 08-9 TOP: AACSB MSC: BLOOMS Synthesis 22. What is product differentiation, and how can it be achieved? ANS: Product differentiation distinguishes one firm’s products from those of competitors. Differences can be either real or perceived. Products can be differentiated by brand names, packaging, color, smell, or other means. PTS: 1 REF: 135-136 Communication KEY: CB&E Model Strategy OBJ: 08-9 TOP: AACSB MSC: BLOOMS Synthesis Chapter 9—Decision Support Systems and Marketing Research TRUE/FALSE 1. A marketing decision support system is an interactive, flexible, computerized information system that bypasses information-processing spets and gives managers access to useful information from their own desks. ANS: T PTS: 1 TOP: AACSB Technology MSC: BLOOMS Knowledge REF: 139 OBJ: 09-1 KEY: CB&E Model Online/Computer 2. A true marketing decision support system is interactive, flexible, discovery oriented, and accessible. ANS: T PTS: 1 TOP: AACSB Technology MSC: BLOOMS Comprehension REF: 139-140 OBJ: 09-1 KEY: CB&E Model Online/Comp...
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