Deck 11: Understanding the Marketing Effort

Question 1

All of the following are ways marketers can respond to the ongoing pressure on price,EXCEPT:

A) Develop greater economies of scale
B) Communicate product importance
C) Develop brand distinction
D) Develop quality differentials
E) Develop unique need

Answer 1

A

Question 2

When thinking about product positioning and product strategy,the key is to think about how the product and/or service offers to the ______ the best solution in the face of competitive alternatives.

A) consumer
B) customer
C) buyer
D) marketer
E) working class

Answer 2

B

Question 3

All of the following are leading to relentless upward pressure on an organization's cost base,EXCEPT:

A) upward pressure on capital costs
B) upward pressure on HR costs
C) upward pressure on price
D) upward pressure on market development costs
E) upward pressure on process development costs

Answer 3

C

Question 4

Traditionally,marketing textbooks and marketers have been trained to think of the marketing mix around four concepts from a _______ approach.

A) customer-centric
B) enterprise-centric
C) consumer-centric
D) company-centric
E) client-centric

Question 5

______ is the change in demand that is anticipated to occur at the various price points the organization is considering for its product and/or service.

A) Price elasticity
B) Demand elasticity
C) Consumer price threshold
D) Buyer threshold
E) Payback period

Question 6

A traditional "Pillar" of Marketing,_______ has since been replaced with the word "distribution".

A) Proposition
B) Product
C) Price
D) Place
E) Promotion

Question 7

An alternate view is to think of a successful marketing effort as including these areas,but to design it and build it with a more _______ slant.

A) customer-centric
B) enterprise -centric
C) consumer-centric
D) company-centric
E) client-centric

Question 8

______ refers to connecting directly with customers and handling the final sale of product and/or the delivery of services without the assistance of a channel intermediary.

A) Express distribution
B) Direct distribution
C) Indirect distribution
D) Degree of sales support
E) Accessible distribution

Question 9

All of the following are a part of a total solution package,possibly allowing a premium-price player to retain its competitive edge,EXCEPT:

A) financing options
B) higher level of service support
C) inferior quality
D) stronger technical expertise
E) specialized or customized product options

Question 10

______ are distribution systems that incorporate both direct and indirect distribution options within their distribution strategy.

A) Express distribution systems
B) Direct distribution systems
C) Indirect distribution systems
D) Mixed distribution systems
E) Combination distribution systems

Question 11

______ refers to the maximum price point that the customer is willing to pay for a product or service.

A) Price elasticity
B) Demand elasticity
C) Consumer price threshold
D) Buyer threshold
E) Payback period

Question 12

To create a methodology for "connecting" with customers,the organization needs to think in terms of ___________,in addition to cost and distribution efficiencies.

A) customer interest and loyalty
B) revenue and brand recognition
C) exclusivity and commitment
D) accessibility and convenience
E) efficiency and effectiveness

Question 13

A traditional "Pillar" of Marketing,_______ has since been replaced with the word "communication".

A) Proposition
B) Product
C) Price
D) Place
E) Promotion

Question 14

Which of the following is NOT one of the historically referred Four P's of Marketing?

A) Proposition
B) Product
C) Price
D) Place
E) Promotion

Question 15

____________ consists of the marketing intermediaries that transport and store goods as they move through their path from producer to final user.

A) channel of distribution
B) marketing network
C) input-output matrix
D) mode of distribution
E) direct distribution

Question 16

Viewing the product strategy as that of ________ attributes brings into play a considerably broader range of attributes which can be used to more fully align the organization's offerings to the needs of the target market and create greater opportunity for differentiation.

A) functionality
B) tangible
C) value proposition
D) distribution model
E) price proposition

Question 17

All of the following are leading to relentless downward pressure on price,EXCEPT:

A) increasing competitive intensity
B) product substitutability
C) rapidity of technological innovation
D) rapidity of technological change
E) expense creep

Question 18

___________ distribution strategy distributes a product through only a preferred group of retailers in a given area.

A) intensive
B) selective
C) exclusive
D) restrictive
E) Conducive

Question 19

Brands which have reached the "Brand ________" level have an active and loyal customer base which continually places the brand at the top of their pre-determined purchase list.

A) Awareness
B) Preference
C) Insistent
D) Loyalty
E) Commitment

Question 20

All of the following potential advantage points come from thinking about products in terms of value proposition attributes,EXCEPT:

A) Behaviour linkage
B) Cost advantages
C) Brand leveraging
D) Tangible product attributes
E) Message advantages

Question 21

The phase of the product life cycle in which healthy profits usually begin to appear is the _____ stage.

A) Growth
B) Decline
C) Introductory
D) Maturity
E) Commercialization

Question 22

The advertising strategy during the growth stage of the product life cycle should be to:

A) aim at the needs of innovators
B) make the mass market aware of brand benefits
C) use advertising as a vehicle for introducing the product category benefits
D) emphasize the product's low price to help reduce inventories
E) make the market aware of product category brands

Question 23

All of the following are primary reasons that users follow a brand on Facebook,EXCEPT:

A) to show a willingness to buy a product they follow
B) to receive discounts and promotional information for the brand
C) to identify themselves as a customer of a particular brand or company
D) to draw others to the brand
E) because doing so is fun and entertaining.

Question 24

For an NFP,failure to _______ and deliver a meaningful solution to a need can result in the desertion of support from both monetary and altruistic stakeholders.

A) present
B) communicate
C) offer
D) pose
E) impart

Question 25

A traditional "Pillar" of Marketing,Promotion has since been replaced with the word "communication".

Question 26

The length of the introductory stage of the product life cycle for a new product is largely determined by:

A) the size of the product
B) the product's marketing mix
C) the efficiency of the test marketing
D) product characteristics, such as advantages over substitute products
E) the size of the market

Question 27

Examples of Consumer-driven marketing technique follow,EXCEPT:

A) Internet Searches
B) Point of Purchase Displays
C) Social Media Websites
D) Peer Recommendations
E) Analysts' Blogs

Question 28

Hobby-Light is a desk light that lets hobbyists match colour swatches accurately without going outside.Its like convenient,natural sunlight inside.The lights have high marketing costs,are sold with high dealer margins,and high production costs.Ads for the product aim at educating craftspeople who work with fabrics and paints about the benefits of the Otto-Light.In which stage of the product life cycle is the light?

A) Introductory
B) Growth
C) Maturity
D) Decline
E) Saturation

Question 29

The revised the Growth/Share Matrix model recognizes that market potential may not always be categorized as high or low,but that a given,______ level of market potential may offer managers opportunities to further grow a product line and/or service opportunity via selective strategies.

A) acceptable
B) medium
C) threshold
D) suitable
E) all of the above

Question 30

A _____ is designed to focus managers on the core cost/benefit trade-offs which need to be considered given the relationship between market potential and the current market position.

A) growth-share matrix
B) payoff table
C) market-product grid
D) product differentiation table
E) cross tabulation

Question 31

___________ is all about making decisions on where to invest in order to improve the organization's market position going forward.

A) Growth/Share management
B) Assortment management
C) Investment management
D) Portfolio management
E) Product management

Question 32

Promotion is one of the historically referred Four P's of Marketing?

Question 33

Typically,at the beginning of the maturity stage of the product life cycle,sales:

A) become flat and do not change
B) increase at an increasing rate
C) decrease at a decreasing rate
D) decrease at an increasing rate
E) increase at a decreasing rate

Question 34

Examples of Company-driven marketing technique follow,EXCEPT:

A) Publicity
B) Point of Purchase Displays
C) Social Media Websites
D) Sales Promotion
E) Dedicated Sales Force

Question 35

All of the following are critical things required for social media marketing to be successful,EXCEPT:

A) Capture interest amongst general internet traffic
B) Increase customer engagement with the organization
C) Turn interest and engagement into sales
D) Build active customer trustworthiness
E) Build active customer loyalty

Question 36

Product is one of the historically referred Four P's of Marketing?

Question 37

Price is one of the historically referred Four P's of Marketing?

Question 38

All of the following are keys to "message rifling",EXCEPT:

A) the right product/service value proposition components
B) to the right businesses
C) to the right audience
D) at the right time
E) via the right message mechanism

Question 39

Proposition is one of the historically referred Four P's of Marketing?

Question 40

The liquor industry is attempting to revive the stagnant spirits industry by introducing low-alcohol cocktails such as Jack Daniel's Country Cocktails,Smirnoff Quenchers,and Southern Comfort Cocktails.These activities are known as:

A) portfolio breadth expansions
B) product portfolio width adjustments
C) product item contractions
D) product line extensions
E) mix repositionings

Question 41

Traditionally,marketing textbooks and marketers have been trained to think of the marketing mix around four concepts from a client-centric approach.

Question 42

Traditionally,marketing textbooks and marketers have been trained to think of the marketing mix around four concepts from a company-centric approach.

Question 43

A traditional "Pillar" of Marketing,Price has since been replaced with the word "distribution".

Question 44

An alternate view is to think of a successful marketing effort as including these areas,but to design it and build it with a more enterprise-centric slant.

Question 45

A traditional "Pillar" of Marketing,Proposition has since been replaced with the word "communication".

Question 46

An alternate view is to think of a successful marketing effort as including these areas,but to design it and build it with a more customer-centric slant.

Question 47

A traditional "Pillar" of Marketing,Product has since been replaced with the word "distribution".

Question 48

When thinking about product positioning and product strategy,the key is to think about how the product and/or service offers to the marketer the best solution in the face of competitive alternatives.

Question 49

A traditional "Pillar" of Marketing,Place has since been replaced with the word "communication".

Question 50

A traditional "Pillar" of Marketing,Promotion has since been replaced with the word "distribution".

Question 51

Traditionally,marketing textbooks and marketers have been trained to think of the marketing mix around four concepts from a customer-centric approach.

Question 52

When thinking about product positioning and product strategy,the key is to think about how the product and/or service offers to the consumer the best solution in the face of competitive alternatives.

Question 53

Traditionally,marketing textbooks and marketers have been trained to think of the marketing mix around four concepts from a consumer-centric approach.

Question 54

When thinking about product positioning and product strategy,the key is to think about how the product and/or service offers to the working class the best solution in the face of competitive alternatives.

Question 55

A traditional "Pillar" of Marketing,Price has since been replaced with the word "communication".

Question 56

Viewing the product strategy as that of functionality attributes brings into play a considerably broader range of attributes which can be used to more fully align the organization's offerings to the needs of the target market and create greater opportunity for differentiation.

Question 57

Viewing the product strategy as that of value proposition attributes brings into play a considerably broader range of attributes which can be used to more fully align the organization's offerings to the needs of the target market and create greater opportunity for differentiation.

Question 58

An alternate view is to think of a successful marketing effort as including these areas,but to design it and build it with a more company-centric slant.

Question 59

A traditional "Pillar" of Marketing,Place has since been replaced with the word "distribution".

Question 60

When thinking about product positioning and product strategy,the key is to think about how the product and/or service offers to the customer the best solution in the face of competitive alternatives.

Question 61

Expense creep is leading to relentless downward pressure on price.

Question 62

Financing options is a part of a total solution package,possibly allowing a premium-price player to retain its competitive edge.

Question 63

Rapidity of technological innovation is leading to relentless downward pressure on price.

Question 64

Specialized or customized product options is a part of a total solution package,possibly allowing a premium-price player to retain its competitive edge.

Question 65

Brands which have reached the "Brand Loyalty" level have an active and loyal customer base which continually places the brand at the top of their pre-determined purchase list.

Question 66

Brands which have reached the "Brand Awareness" level have an active and loyal customer base which continually places the brand at the top of their pre-determined purchase list.

Question 67

Increasing competitive intensity is leading to relentless downward pressure on price.

Question 68

Brand leveraging is a potential advantage point that comes from thinking about products in terms of value proposition attributes.

Question 69

Viewing the product strategy as that of tangible attributes brings into play a considerably broader range of attributes which can be used to more fully align the organization's offerings to the needs of the target market and create greater opportunity for differentiation.

Question 70

Higher level of service support is a part of a total solution package,possibly allowing a premium-price player to retain its competitive edge.

Question 71

Cost advantages is a potential advantage point that comes from thinking about products in terms of value proposition attributes.

Question 72

Behaviour linkage is a potential advantage point that comes from thinking about products in terms of value proposition attributes.

Question 73

Product substitutability is leading to relentless downward pressure on price.

Question 74

Inferior quality is a part of a total solution package,possibly allowing a premium-price player to retain its competitive edge.

Question 75

Brands which have reached the "Brand Preference" level have an active and loyal customer base which continually places the brand at the top of their pre-determined purchase list.

Question 76

Brands which have reached the "Brand Insistent" level have an active and loyal customer base which continually places the brand at the top of their pre-determined purchase list.

Question 77

Stronger technical expertise is a part of a total solution package,possibly allowing a premium-price player to retain its competitive edge.

Question 78

Brands which have reached the "Brand Commitment" level have an active and loyal customer base which continually places the brand at the top of their pre-determined purchase list.

Question 79

Viewing the product strategy as that of distribution model attributes brings into play a considerably broader range of attributes which can be used to more fully align the organization's offerings to the needs of the target market and create greater opportunity for differentiation.

Question 80

Message advantages is a potential advantage point that comes from thinking about products in terms of value proposition attributes.