Question 1

How should a marketer interpret a big difference between unaided and aided recall in a staircase analysis?

Accepted Answer

A)  The brand is weak in its product category. 
B)  Consumers buy the product based on price. 
C)  The brand is unattractive to many consumers. 
D)  Consumers wait for promotions to buy the product. 
A)  The brand is weak in its product category. 
B)  Consumers buy the product based on price. 
C)  The brand is unattractive to many consumers. 
D)  Consumers wait for promotions to buy the product. A

Question 2

What is the most narrow category of a staircase analysis?

Accepted Answer

A)  repeat customers 
B)  purchase rate 
C)  satisfied customers 
D)  cross selling 
A)  repeat customers 
B)  purchase rate 
C)  satisfied customers 
D)  cross selling D

Question 3

As a marketer,how would you benefit from using a staircase analysis to formulate marketing objectives?

Accepted Answer

An extremely useful tool for formulating objectives is staircase analysis.Staircase analysis addresses "specificity" by breaking down the flowthrough which the total potential market is narrowed down to the firm's actual customers and those actual customers are sorted out by share of wallet,satisfaction,loyalty,and cross-buying.Staircase analysis accentuates the steps that lead to a purchase decision,and its structure highlights the gaps where potential sales are lost (and where investments and improved efforts can therefore improve sales and profitability).

Question 4

What does a gap in a staircase analysis most likely represent?

Accepted Answer

A)  misidentified market segments 
B)  shrinking brand loyalty 
C)  lost potential sales 
D)  outdated products 
A)  misidentified market segments 
B)  shrinking brand loyalty 
C)  lost potential sales 
D)  outdated products

Question 5

A staircase analysis is a tool used by marketers to ________.

Accepted Answer

A)  develop specific objectives 
B)  create innovative products 
C)  assess competitors' strengths 
D)  analyze strategic business units 
A)  develop specific objectives 
B)  create innovative products 
C)  assess competitors' strengths 
D)  analyze strategic business units

Question 6

The share of wallet is an indicator of growth potential.

Accepted Answer

A) True 
 B)False

Question 7

The ________ consists of all possible buyers with the need and financial resources for a specific product.

Accepted Answer

A)  segment 
B)  cross sellers 
C)  actual market 
D)  market potential 
A)  segment 
B)  cross sellers 
C)  actual market 
D)  market potential

Question 8

When using a staircase analysis,what is the first question that should be asked?

Accepted Answer

A)  How many customers are completely satisfied? 
B)  What brand awareness exists in the market? 
C)  What is the market potential? 
D)  What is the market share? 
A)  How many customers are completely satisfied? 
B)  What brand awareness exists in the market? 
C)  What is the market potential? 
D)  What is the market share?

Question 9

Aided recall and unaided recall are methods for measuring ________.

Accepted Answer

A)  brand loyalty 
B)  share of wallet 
C)  brand awareness 
D)  market potential 
A)  brand loyalty 
B)  share of wallet 
C)  brand awareness 
D)  market potential

Question 10

When measuring brand awareness,unaided recall is always lower than aided recall.

Accepted Answer

A) True 
 B)False

Question 11

A customer who buys ________ is a cross-buyer.

Accepted Answer

A)  one product when a vendor has discounted prices 
B)  one product from a vendor on a regular basis 
C)  multiple products from many vendors 
D)  multiple products from one vendor 
A)  one product when a vendor has discounted prices 
B)  one product from a vendor on a regular basis 
C)  multiple products from many vendors 
D)  multiple products from one vendor

Question 12

Marketing objectives are long-term and directly linked to a firm's vision,while marketing goals are narrow and short-term.

Accepted Answer

A) True 
 B)False

Question 13

Which term refers to the amount of business a firm receives from a customer?

Accepted Answer

A)  purchase rate 
B)  share of wallet 
C)  cross buying 
D)  market share 
A)  purchase rate 
B)  share of wallet 
C)  cross buying 
D)  market share

Exam 37: Note : Staircase Analysis

How should a marketer interpret a big difference between unaided and aided recall in a staircase analysis?

What is the most narrow category of a staircase analysis?

As a marketer,how would you benefit from using a staircase analysis to formulate marketing objectives?

What does a gap in a staircase analysis most likely represent?

A staircase analysis is a tool used by marketers to ________.

The share of wallet is an indicator of growth potential.

The ________ consists of all possible buyers with the need and financial resources for a specific product.

When using a staircase analysis,what is the first question that should be asked?

Aided recall and unaided recall are methods for measuring ________.

When measuring brand awareness,unaided recall is always lower than aided recall.

A customer who buys ________ is a cross-buyer.

Marketing objectives are long-term and directly linked to a firm's vision,while marketing goals are narrow and short-term.

Which term refers to the amount of business a firm receives from a customer?

Overview of Marketing Strategy the Strategic Marketing Process

Situation Assessment - the External Environment

Situation Assessment - the Company

Strategy Formation

Implementation

Planning,assessment,and Adjustment

Note : Market Definition

Note : Context: Pest Analysis

Note : Customer Assessment - Trends and Insights

Note : Consumer and Organizational Buyer Behavior

Note : Competitor Analysis - Competitive Intelligence

Note : Company Assessment - Missions and Visions

Note : Company Assessment - the Value Chain

Note : Industry Analysis

Note : the Product Life Cycle

Note : Experience Curve Effects on Cost Reduction

Note : Economies and Diseconomies of Scale

Note : Economies of Scope-Synergies and Virtuous Circles

Note : Market-Share Effects

Note : Scenario Analysis

Note : the Marketing Concept

Note : What Is a Marketing Strategy

Note : Generic Strategies - Advantage and Scope

Note : Generic Strategies - the Value Map

Note : Generic Strategies - Product-Market Growth Strategies

Note : Specific Marketing Strategies

Note : Market Segmentation

Note : Loyalty-Based Marketing,customer Acquisition,and Customer Retention

Note : Customer Lifetime Value

Note : Competitive Advantages

Note : Swot Analysis

Note : Targeting

Note : Positioning

Note : Customer-Oriented Market Research

Note : Brands and Branding

Note : Products - New Product Development

Note : Products - Innovations

Note : Products - Product Portfolios

Note : Pricing Strategies

Note : Promotion and People - Integrated Marketing Communications

Note : Place - Distribution

Note : Budgets,forecasts,and Objectives

Note : Assessment and Adjustment

Filters