Marketing Final Exam

The correct location for retail outlets to sell a

Info iconThis 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: d. The use of reward systems to increase brand loyalty e. The growing market for luxury products ANS: B Consumers are more and more likely to equate good service with personalized service. PTS: 1 REF: 135 Thinking KEY: CB&E Model Strategy 118. Product positioning is the process of: a. b. OBJ: 08-8 TOP: AACSB Reflective MSC: BLOOMS Application finding the correct location for retail outlets to sell a product category finding the right channel of distribution for a product c. d. e. creating the desired image of the firm’s product competing with competitors’ products in the retailers’ stores for the best position on the shelf pricing the product to be at a competitive level with other brands on the market ANS: C Positioning is developing a specific marketing mix to influence potential customers’ overall perception of a brand, product line, or organization in general. PTS: 1 REF: 135 Thinking KEY: CB&E Model Strategy OBJ: 08-9 TOP: AACSB Reflective MSC: BLOOMS Knowledge 119. _____ is the development of a specific marketing mix to influence potential customers’ overall perception of a brand, product line, or organization in general and is related to the place a product occupies in consumers’ minds relative to competing offerings. a. Market differentiation b. Diversification c. Combination marketing d. Positioning e. Market aggregation ANS: D This is the definition of positioning. PTS: 1 REF: 135 Thinking KEY: CB&E Model Strategy OBJ: 08-9 TOP: AACSB Reflective MSC: BLOOMS Knowledge 120. Chandler Kumar owns two antique stores. One is in an upscale neighborhood, and its merchandise is artfully arranged and priced to indicate product rarity. The other is in a run-down strip mall and contains some of the same type of merchandise, but the items are left in open boxes and placed haphazardly on shelves. Customers of either store have entirely different perceptions of the stores and would be surprised to know Kumar operates each of them because he uses such differing _____ strategies. a. market integration b. segmentation c. targeting d. positioning e. market combination ANS: D Positioning is developing a specific marketing mix to influence potential customers’ overall perception of a brand, product line, or organization in general. PTS: 1 REF: 135 Thinking KEY: CB&E Model Strategy OBJ: 08-9 TOP: AACSB Reflective MSC: BLOOMS Application 121. The place a product, brand, or group of products occupies in consumers’ minds relative to competing offerings is referred to as a product’s: a. status b. equity c. frame d. role e. position ANS: E This is the definition of a product’s position. PTS: 1 REF: 135 Thinking KEY: CB&E Model Product OBJ: 08-9 TOP: AACSB Reflective MSC: BLOOMS Knowledge 122. Elaine perceives Cadillac automobiles to be for older men, not for young professional women such as herself. Elaine’s perception represents Cadillac’s _____ in her mind. a. status b. frame c. position d. role e. equity ANS: C Positi...
View Full Document

Ask a homework question - tutors are online