Marketing Final Exam

Refers to where it is located on store shelves ans f

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Unformatted text preview: wledge 24. Marketers are realizing that the “one-size-fits-all” approach to marketing is still relevant. ANS: F The one-size-fits-all marketing is no longer relevant. Consumers want to be treated as the individuals they are, with their own unique sets of needs and wants. PTS: 1 REF: 135 Thinking KEY: CB&E Model Strategy OBJ: 08-8 TOP: AACSB Reflective MSC: BLOOMS Comprehension 25. A product’s position refers to where it is located on store shelves. ANS: F Position is the place a product, brand, or group of products occupies in consumers’ minds relative to competing offerings. PTS: 1 REF: 135 Thinking KEY: CB&E Model Product OBJ: 08-9 TOP: AACSB Reflective MSC: BLOOMS Knowledge 26. Product differentiation is a positioning strategy. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Knowledge REF: 135 OBJ: 08-9 KEY: CB&E Model Strategy 27. A product’s positioning could be based on product users. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Comprehension REF: 136 OBJ: 08-9 KEY: CB&E Model Strategy 28. Consumers’ perceptions regarding a product’s position cannot be changed. ANS: F Repositioning is changing consumers’ perceptions of a brand in relation to competing brands. PTS: 1 REF: 137 Thinking KEY: CB&E Model Strategy OBJ: 08-9 TOP: AACSB Reflective MSC: BLOOMS Comprehension MULTIPLE CHOICE 1. A _____ is a group of people or organizations that has wants and needs that can be satisfied by particular product categories, has the ability to purchase these products, and is willing to exchange resources for the products. a. b. c. d. e. firm buyer market consumer target ANS: C This is the definition of a market. PTS: 1 REF: 121 Thinking KEY: CB&E Model Customer OBJ: 08-1 TOP: AACSB Reflective MSC: BLOOMS Knowledge 2. The Belly Cast kit by Proud Body helps an expectant mom to make a cast of her pregnant body, decorate it, and keep it for a lifetime. The primary market segment for the Belly Cast kit is: a. all parents b. expectant moms c. recently married couples d. parents of toddlers e. collectors of unusual art ANS: B A market segment is a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs, which in this case would be expectant moms. PTS: 1 REF: 121 Thinking KEY: CB&E Model Customer OBJ: 08-1 MSC: BLOOMS Application 3. A market is people or organizations that have: a. b. c. d. e. TOP: AACSB Reflective the ability, willingness, and power to buy a medium of exchange and products they desire needs and wants and an ability and willingness to buy unmet needs or wants and products or services that satisfy those unmet needs or wants communication, financial, and capital resources ANS: C A market is defined as having four imperative characteristics: people or organizations, needs and wants, ability to buy, and willingness to buy. PTS: 1 REF: 121 Thinking KEY: CB&E Model Customer OBJ: 08-1 TOP: AACSB Reflective MSC: BLOOMS Knowledg...
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This document was uploaded on 09/29/2013.

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