Complete Assignments of Courses of Leading Universities: BM350 Marketing Management

BM350 Marketing Management

Ashworth College

ASSIGNMENT 04

BM350 Marketing Management

Directions: Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling, and grammar. Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific format requirements.

Respond to the items below.

1. Explain customer-perceived value.

2. Explain total customer satisfaction.

3. What valuable functions can brands perform for a firm?

4. Given that the power of a brand resides in the minds of consumers and how it changes their response to marketing, there are two basic approaches to measuring brand equity. Briefly, describe each of these approaches.

5. Incorporating the concepts discussed in this assignment, answer the following: How does a loyal brand community support the positioning and branding of a small business? Provide an example to support your explanation.

BM350 Assignment 8

ASSIGNMENT 08

BM350 Marketing Management

Respond to the items below.

Part A: With Products, Is It Form or Function?

The "form versus function" debate applies in many arenas, including marketing. Some marketers believe that product performance is the end all and be all. Other marketers maintain that the looks, feel, and other design elements of products are what really make the difference.

Take a position: Product functionality is the key to brand success versus product design is the key to brand success.

Part B: Is the Right Price a Fair Price?

Prices are often set to satisfy demand or to reflect the premium that consumers are willing to pay for a product or service. Some critics shudder, however, at the thought of $2 bottles of water, $150 running shoes, and $500 concert tickets.

Take a position: Prices should reflect the value that consumers are willing to pay versus prices should primarily just reflect the cost involved in making a product or service.

BM350.2.1.2 60 questions

Question-1

Cocktail lounges in restaurants are examples of:

A. differential pricing.

B. cultivating nonpeak demand.

C. complementary services.

D. reservation systems.

Question-2

A consumer products firm manufactures and sells over 200 different sizes and varieties of jams and jellies. We can say that this manufacturer's product mix has high:

A. consistency.

B. depth.

C. intensity.

D. range.

Question-3

Services high in __________ are those services that have characteristics the buyer normally finds hard to evaluate even after consumption.

A. trial qualities

B. search qualities

C. experience qualities

D. credence qualities

Question-4

__________ is a measure of the probability that a product will not malfunction or fail within a specified time period.

A. Reparability

B. Durability

C. Reliability

D. Specialty

Question-5

Customers today want separate prices for each service element and they also want the right to select the elements they want. The customers are said to be pressing for:

A. complementary services.

B. perishable services.

C. variable services.

D. unbundled services.

Question-6

A(n. __________ is defined as a distinct unit within a brand or product line distinguishable by size, price, appearance, or some other attribute.

A. stockkeeping unit

B. inventory turn

C. individual brand

D. product type

Question-7

Unlike physical products, services cannot be seen, tasted, felt, heard, or smelled before they are bought. This is known as the __________ aspect of services.

A. inseparability

B. intangibility

C. variability

D. perishability

Question-8

Which of the following is an example of a hybrid service?

A. Teaching

B. Car

C. Restaurant meal

D. Soap

Question-9

A computer falls into the __________ category of service mix.

A. pure tangible good

B. tangible good with accompanying services

C. hybrid

D. major service with accompanying minor goods

Question-10

__________ refer(s. to logos, symbols, characters, and slogans that service providers use in order

to make the service and its key benefits more tangible.

A. Brand engagement

B. Brand orientation

C. Brand elements

D. Brand loyalty

Question-11

Expensive equipment manufacturers not only install the equipment but also train the staff and undertake the maintenance and repair activities of the equipment. By doing so, they are providing:

A. payment equity.

B. value-augmenting services.

C. differential pricing.

D. facilitating services.

Question-12

Josh gets his bike serviced at Dean's Garage even though there's another garage much closer to home. He prefers Dean's because the work is usually done quickly and the staff tries to solve the issues with the bike as soon as possible. Dean's Garage excels at which of the following five determinants of service quality?

A. Reliability

B. Responsiveness

C. Assurance

D. Empathy

Question-13

When customers calculate the perceived economic benefits of a continuously provided service in relationship to the economic costs, they are gauging the:

A. private equity.

B. brand equity.

C. payment equity.

D. customer-service equity.

Question-14

The __________ rates the various elements of the service bundle and identifies required actions.

A. company performance analysis

B. voice of customer measurement

C. customer factor measurement

D. importance-performance analysis

Question-15

A group of products within a product class that are closely related because they perform a similar function, are sold to the same customer groups, are marketed through the same outlets or channels, or fall within given price ranges is known as a:

A. product type.

B. product class.

C. need family.

D. product line.

Question-16

Industrial goods can be classified as __________, capital items, or suppliers and business services based on their relative cost and how they enter the production process.

A. service components

B. sub-assemblies

C. accessories

D. materials and parts

Question-17

What types of goods are purchased frequently, immediately, and with minimum effort by the consumers?

A. Specialty goods

B. Shopping goods

C. Convenience goods

D. Durable goods

Question-18

Marketers have traditionally classified products on the basis of three characteristics: __________, tangibility, and use.

A. availability

B. affordability

C. aesthetics

D. durability

Question-19

Which of the following is a benefit of product mapping?

A. Studying market matrices

B. Integrating target markets

C. Identifying market segments

D. Educating consumers

Question-20

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and:

A. natural products.

B. component materials.

C. operating supplies.

D. equipment.

Question-21

Deducting the desired profit margin from the price at which a product will sell, given its appeal and competitors' prices, is known as:

A. overhead costing.

B. target costing.

C. activity based costing.

D. benefit analysis.

Question-22

Which of the following is the first step in setting a pricing policy?

A. Selecting a pricing method

B. Selecting the pricing objective

C. Determining demand

D. Estimating cost

Question-23

In a(n. __________, the buyer announces something he or she wants to buy, and potential sellers compete to offer the lowest price.

A. Dutch auction with one buyer and many sellers

B. English auction with one buyer and many sellers

C. English auction with one seller and many buyers

D. sealed-bid auction

Question-24

A market-penetration pricing strategy is most suitable when:

A. a low price slows down market growth.

B. production and distribution costs fall with accumulated production experience.

C. a high price dissuades potential competitors from entering the market.

D. the market is characterized by inelastic demand.

Question-25

A retailer who holds on to a(n. __________ policy charges a constant low price with little or no price promotions and special sales.

A. everyday low pricing

B. high-low pricing

C. low cost

D. going-rate pricing

Question-26

While shopping at the mall, Jane is asked by one of the sales representatives at the cosmetics counter to try out a new lipstick that her company is test marketing. The company representative asks her how much she would be willing to pay for the lipstick. After trying it out, Jane is of the opinion that $5 is just the right price for it. What type of a reference price is Jane using?

A. Usual discounted price

B. Fair price

C. Maximum retail price

D. Last price paid

Question-27

The first step in estimating demand is to:

A. analyze competitors' cost.

B. select a pricing method.

C. understand what affects price sensitivity.

D. calculate fixed costs.

Question-28

Which of the following is the most elementary pricing method?

A. Value pricing

B. Going-rate pricing

C. Markup pricing

D. Target-return pricing

Question-29

In __________, the firm bases its price largely on competitors' prices.

A. going-rate pricing

B. auction-type pricing

C. markup pricing

D. target-return pricing

Question-30

A firm that is plagued with overcapacity, intense competition, or changing wants would do better if it pursues __________ as its major objective.

A. market skimming

B. product-quality leadership

C. survival

D. profit maximization

Question-31

Companies that aim to __________ strive to be affordable luxuries.

A. survive in the market

B. partially recover their costs

C. maximize their market share

D. be product-quality leaders

Question-32

__________ price refers to what the consumers feel the product should cost.

A. Fair

B. Typical

C. Usual discounted

D. List

Question-33

The reservation price or the maximum that most consumers would pay for a given product is known as the __________ price.

A. expected future

B. usual discounted

C. upper-bound

D. typical

Question-34

__________ is the cost per unit at that level of production.

A. Target cost

B. Average cost

C. Marginal cost

D. Opportunity cost

Question-35

Which of the following is true regarding price elasticity?

A. The higher the elasticity, the lesser is the volume growth resulting from a 1 percent price reduction.

B. Within the price indifference band, price changes have little or no effect on demand.

C. If demand is elastic, sellers will consider increasing the price.

D. Price elasticity does not depend on magnitude and direction of the contemplated price change.

Question-36

The decline in the average cost of production with accumulated production experience is called the:

A. demand curve.

B. supply chain.

C. learning curve.

D. value chain.

Question-37

__________ consist of the sum of the fixed and variable costs for any given level of production.

A. Total costs

B. Average costs

C. Opportunity costs

D. Learning costs

Question-38

Companies that believe that a higher sales volume leads to lower unit costs and higher long-run profits are attempting to:

A. maximize their market share.

B. skim the market.

C. become a product-quality leader.

D. merely survive in the market.

Question-39

When a company introduces a product at a very high price and then gradually drops the price over time, it is pursuing a __________ strategy.

A. market-penetration pricing

B. market-skimming pricing

C. value-pricing

D. switching cost

Question-40

When consumers examine products, they often compare an observed price to an internal price they remember. This is known as a(n. __________ price.

A. markup

B. reference

C. market-skimming

D. accumulated

Question-41

The number of different persons or households exposed to a particular media schedule at least once during a specified time period is known as:

A. range.

B. impact.

C. intensity.

D. reach.

Question-42

Which of the following is an element of an offer strategy?

A. The medium used for delivery

B. The number of customers in the locality

C. The vision of the company

D. The skills required for production

Question-43

Which of the following steps in the innovation-adoption model of marketing communications corresponds to the cognitive stage that a buyer passes through?

A. Interest

B. Evaluation

C. Trial

D. Awareness

Question-44

__________ refers to simple exaggerations in advertisements that are not meant to be believed and that are permitted by law.

A. Puffery

B. Boasting

C. Pseudo promotion

D. Doublethink

Question-45

Which of the following is an example of an advertising platform?

A. Posters and leaflets

B. Company magazines

C. Fairs and trade shows

D. Sales presentations

Question-46

The Internet provides marketers and consumers with opportunities for much greater interaction and __________ than other marketing channels.

A. control

B. data security

C. high involvement selling

D. individualization

Question-47

Which of the following sequences accurately represents the hierarchy-of-effects model of marketing communications?

A. Attention-interest-desire-action

B. Awareness-interest-evaluation-trial-adoption

C. Awareness-knowledge-liking-preference-conviction-purchase

D. Exposure-reception-cognitive response-attitude-intention-behavior

Question-48

Buzz and viral marketing both try to:

A. use unethical methods to popularize a brand.

B. market products by providing free samples to customers.

C. create a splash in the marketplace to showcase a brand.

D. induce impulse sales by displaying products close to the pay counters.

Question-49

According to researchers, which of the following is the correct order in which content of print advertisements matter?

A. Picture-headline-copy

B. Copy-picture-headline

C. Headline-copy-picture

D. Picture-copy-headline

Question-50

__________ is the number of times the average buyer buys a product during the period.

A. Buyer turnover

B. Purchase frequency

C. Customer retention rate

D. Advertising impressions

Question-51

Which of the following is an example of a trade promotion?

A. Free samples

B. Discount coupons

C. Display allowances

D. Contests for sales reps

Question-52

Which of the following media timing factors expresses the rate at which new customers enter the market?

A. Buyer turnover

B. Purchase frequency

C. Media reach

D. Weighted number of exposures

Question-53

The weighted number of exposures (WE. of an advertising message over a given medium is given by:

A. WE = reach * frequency.

B. WE = (reach * frequency. / impact.

C. WE = reach * frequency * impact.

D. WE = (reach + frequency. / impact.

Question-54

The original and oldest form of direct marketing is:

A. billboards.

B. banner advertising.

C. mail campaigns.

D. field sales calls.

Question-55

The qualitative value of an exposure through a given medium is known as:

A. frequency.

B. reach.

C. amplitude.

D. impact.

Question-56

Which of the following marketing communications tools is most influential at the maturity stage of a product's life cycle?

A. Sales promotions

B. Direct marketing

C. Advertising

D. Publicity

Question-57

Marketing communication strategy can be decided by conducting an image analysis by profiling the target audience in terms of:

A. brand knowledge.

B. purchase patterns.

C. demographic characteristics.

D. income levels.

Question-58

Which of the following is generally acknowledged as the most powerful advertising medium and reaches a broad spectrum of consumers at low cost per exposure?

A. Television

B. Radio

C. Newspapers

D. Magazines

Question-59

Which of the following elements of the marketing communications mix involves a variety of short-term incentives to encourage trial or purchase of a product or service?

A. Advertising

B. Direct marketing

C. Public relations

D. Sales promotion

Question-60

People who know and communicate with a great number of other people are called:

A. buzzers.

B. connectors.

C. informants.

D. stickers.

BM350 Marketing Management Part I

Question 1

When consumers share a strong need that cannot be satisfied by an existing product, it is called ________.

A) negative demand

B) latent demand

C) declining demand

D) irregular demand

Question 2

Consider the real estate industry. The ________ for this industry includes construction companies, financing institutions, paint manufacturers, interior decorators, furniture manufacturers, and plumbing industries.

A) marketspace

B) latent market

C) need market

D) metamarket

Question 3

When demand is ________, it implies that more customers would like to buy the product than can be satisfied.

A) latent

B) irregular

C) overfull

D) full

Question 4

What is the traditional view of marketing?

A) Firms should just focus on production because if the products are good then they will automatically sell.

B) Firms should just focus on production and selling because marketing occurs as a part of the selling process.

C) Firms should have a proper marketing team that can increase consumers' awareness of their products and rouse their interest in them.

D) Firms should price their products as low as possible so that marketing them becomes easy.

Question 5

The value of an offering is described as ________.

A) the price consumers are charged for a product

B) the cost of manufacturing a product

C) the degree to which consumer demand for a product is positive

D) the sum of the tangible and intangible benefits and costs to customers

Question 6

When consumers share a strong need that cannot be satisfied by an existing product, it is called ________.

A) negative demand

B) latent demand

C) declining demand

D) irregular demand

Question 7

The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.

A) organizational plan

B) strategic marketing plan

C) corporate tactical plan

D) corporate mission

Question 8

________ is a direction or sequence of events that has some momentum and durability; it reveals the shape of the future and can provide strategic direction.

A) fad

B) fashion

c) trend

D) megatrend

Question 9

A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.

A) data warehousing system

B) viral marketing campaign

C) product management system

D) marketing intelligence system

Question 10

Which of the following would be the best illustration of a secondary belief or value?

A) belief in work

B) belief in giving to charity

C) belief in getting married

D) belief in getting married early

Question 11

The ________ phase of marketing research is generally the most expensive and the most prone to error.

A) data collection

B) research planning

C) questionnaire design

D) contact

Question 12

According to the concept of ________, a series of increasingly more specific "why" questions can reveal consumer motivation and consumers' deeper, more abstract goals.

A) word association

B) projection

C) visualizing

D) laddering

Question 13

The ________ phase of marketing research is generally the most expensive and the most prone to error.

A) data collection

B) research planning

C) questionnaire design

D) contact

Question 14

The marketing research process begins by ________.

A) developing a research plan

B) defining the problem, the decision alternatives, and research objectives

C) analyzing the internal environment

D) reading marketing research journals

Question 15

Total customer satisfaction is measured based on the relationship of ________.

A) expected value and total customer benefit

B) perceived performance and expectation

C) advertised outcomes and real outcomes

D) past experience and present experience

Question 16

_______ is the process by which we select, organize, and interpret stimuli into a meaningful and coherent picture.

A) Consumption

B) Perception

C) Acculturation

D) Assimilation

Question 17

________ is the tendency to interpret information in a way that will fit our preconceptions.

a. Selective retention

b. Cognitive dissonance

c. Selective distortion

d. Subliminal perception

Question 18

A given percentage increase in consumer demand can lead to a much larger percentage increase in the demand for plant and equipment necessary to produce additional output. Economists refer to this as:

A) derived demand

B) inelastic demand

C) the acceleration effect

D) a straight rebuy

Question 19

A company's ________ includes all the experiences the customer will have on the way to obtaining and using the offering.

A) value proposition

B) value delivery system

C) customer-value analysis

D) total customer benefit

Question 20

In reordering office supplies, the only stages that the buyer passes through are the product specification stage and the ________ stage.

A) problem recognition

B) general need description

C) order-routine specification

D) performance review

Question 21

The process of building, maintaining, and using customer databases and other databases for the purpose of contacting, transacting, and building customer relationships is called ________.

A) data warehousing

B) data mining

C) database marketing

D) participatory marketing

Question 22

Identify the four pillars of brand equity, according to brand asset valuator model.

A) relevance, performance, bonding, and advantage

B) presence, performance, advantage, and bonding

C) energized differentiation, relevance, esteem, and knowledge

D) brand salience, brand feelings, brand imagery, and brand performance

Question 23

Brand equity can be built by ________, which create(s) equity by linking the brand to other information in memory that conveys meaning to customers.

A) internal marketing

B) brand transferability

C) secondary associations

D) customer alignment

Question 24

____ are associations designed to overcome perceived weaknesses of the brand

A) Conceptual points-of-parity

B) Category points-of-parity

C) Competitive points-of-parity

D) Competitive points-of-difference

Question 25

________ brands are positioned with respect to competitors' brands so that more important (and more profitable) flagship brands can retain their desired positioning.

A) Flanker

B) Attacker

C) Defender

D) Simulation

BM350 Marketing Management Part II

Question 1

The first step in the strategic brand management process is ________.

A) measuring consumer brand loyalty

B) identifying and establishing brand positioning

C) planning and implementing brand marketing

D) measuring and interpreting brand performance

Question 2

The American Marketing Association defines a ________ as "a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors."

A) copyright

B) trademark

C) slogan

D) brand

Question 3

________ is a company's ability to perform in one or more ways that competitors cannot or will not match.

A) Brand positioning

B) Market research

C) Competitive advantage

D) Competitor analysis

Question 4

The ________ attack offers the firm an opportunity to diversify into unrelated products, into new geographical markets, and leapfrogging into new technologies.

A) bypass

B) flank

C) frontal

D) guerrilla

Question 5

Sony is an unusual market leader. It gives its customers new products that they have never asked for (e.g., Walkmans, VCRs, video cameras, CDs). This makes Sony a(n) ________ firm.

A) market-driven

B) market-driving

C) operations-driven

D) vision-driven

Question 6

________ is a period of rapid market acceptance and substantial profit improvement.

A) Stagnancy

B) Introduction

C) Maturity

D) Growth

Question 7

Which of the following is true about market-nichers?

A) They are market followers in small markets.

B) They tend to have high manufacturing costs.

C) Their return on investment exceeds that in larger markets.

D) A nicher achieves high volume as against a mass marketer that achieves high margin.

Question 8

A(n) ________ is another name for identifying shifts in market segments that are causing gaps to develop, then rushing in to fill the gaps and developing them into strong segments.

A) frontal attack strategy

B) flanking strategy

C) encircling strategy

D) counteroffensive strategy

Question 9

An alternative to being a market follower in a large market is to be a leader in a small market. This type of competitor is called a ________.

A) marketing king

B) market nicher

C) segment king

D) guerilla marketer

Question 10

________ is the ability of a company to prepare on a large-scale basis individually designed products, services, programs, and communications.

A) Mass customization

B) Reverse engineering

C) Interoperability

D) Backward compatibility

Question 11

A ________ is the set of all products and items a particular seller offers for sale.

A) product line

B) product mix

C) product extension

D) product system

Question 12

BRZ Shoes targets the youth market with vibrant, visually appealing ads in modern styles. BRZ ads appeal to the ________ dimension of brand experience.

A) sensory

B) affective

C) behavioral

D) intellectual

Question 13

The ________ determinant of service quality refers to the knowledge and courtesy of employees and their ability to convey trust and confidence in the service they provide.

A) conscientious

B) assurance

C) empathy

D) reliability

Question 14

Marketers have traditionally classified products on the basis of characteristics: ________, tangibility, and use.

a.availability

b.affordability

c.aesthetics

d. durability

Question 15

What types of goods are purchased frequently, immediately, and with minimum effort by the consumers?

A) specialty goods

B) shopping goods

C) convenience goods

D) durable goods

Question 16

Costs that do not vary with production levels or sales are known as:

a. overhead costs

b. variable costs

c. average costs

d. opportunity costs

Question 17

After determining its pricing objectives, a firm should take what next logical step in setting its pricing policy?

It should analyze its competitors' costs, prices, and offers.

It should select its pricing method.

It should select its final price.

It should determine the demand for its product.

Question 18

A company that is looking to maximize its market share would do well to follow ________ pricing.

A) markup

B) market-penetration

C) market-skimming

D) target-return

Question 19

Which of the following is the first step in setting a pricing policy?

A) selecting a pricing method

B) selecting the pricing objective

C) determining demand

D) estimating cost

Question 20

A firm that is plagued with overcapacity, intense competition, or changing wants would do better if it pursues ________ as its major objective.

A) market skimming

B) product-quality leadership

C) survival

D) profit maximization

Question 21

Which of the following is a form of mass communications channel?

A) interactive marketing

B) personal selling

C) public relations

D) word-of-mouth marketing

Question 22

_____ questions ask about the consequences of the buyer's problems.

a. Situation

b. Problem

c. Implication

d. Need-payoff

Question 23

________ is the time necessary to prepare a promotional program prior to launching it.

A) Sell-in time

B) Link time

C) Setup time

D) Lead time

Question 24

________ is a measure of communications effectiveness that describes the percentage of target market exposed to a communication.

A) Frequency

B) Reach

C) Width

D) Depth

Question 25

Which of the following marketing communications tools is most influential at the maturity stage of a product's life cycle?

A) sales promotions

B) direct marketing

C) advertising

D) publicity

BM350 Semester Exam

Question-1

The three essential managerial skills include:

technical, human, and empirical.

human, empirical, and conceptual.

technical, interpersonal, and controlling.

technical, human, and conceptual.

Question-2

A(n)________ is the existence of a discrepancy between an existing and a desired state of affairs.

opportunity

solution

weakness

problem

Question-3

The quantitative approach involves applications of:

statistics, information models, and computer simulations.

psychology testing, focus groups, and mathematics.

optimization models, interviews, and questionnaires.

surveys, strategic planning, and group problem solving.

Question-4

Ethics training sessions can provide what benefit?

They clarify acceptable and unacceptable practices.

They create ego strength in employees.

They evaluate decisions and management practices in terms of the code of ethics.

They strengthen the employees' locus of control.

Question-5

Planning is often called the primary management function because it:

offers some basis for future decision making.

creates the vision for the organizational members to work toward.

establishes the basis for all the other functions.

sets the tone for the organizational culture.

Question-6

__________ teams tend to be more task-oriented especially if the team members have never personally met.

Cross-functional

Problem-solving

Self-managed

Virtual

Question-7

A theory that suggests that employees compare their inputs and outcomes from a job to the ratio of input to outcomes of relevant others is known as:

action motivation.

goal setting.

reinforcement theory.

equity theory.

Question-8

How would a manager motivate low-skilled, minimum-wage employees?

Offer more pay for high levels of performance

Use employee recognition programs

Provide the opportunity for training

Provide the opportunity for full-time employment

Question-9

Managers can't really know whether their work units are working properly until they've evaluated what activities have been done:

with those who remain.

and have compared actual performance to a desired standard.

and evaluate the performance of each of their employees.

successfully.

Question-10

The prevalent thinking today is that:

organizations must make everyone fit a common corporate mold.

organizations should support, nurture, and utilize people's differences in a way that respects employees' unique perspectives and promotes a shared vision.

employees have a single identity.

All of the above.

Question-11

When a company calculates __________, the company looks at how much profit it expects to make from a particular customer, including each purchase he or she will make from the company now and in the future.

customer lifetime value

customer relationship management

utility

the exchange function

Question-12

By definition, a(n) __________ is a community, nation, or group that shares common traditions, institutions, activities, and interests.

market

society

environment

marketplace

Question-13

It is easiest for marketers to create an emotional connection between a consumer and a(n) __________ product.

approach

augmented

core

avoidance

Question-14

Information collected from government publications is an example of __________ data.

primary

secondary

observational

experimental

Question-15

A __________ is a promise to deliver specific benefits associated with products or services to consumers.

service

brand

license

patent

Question-16

Which type of segmentation is MOST related to the use of the word when, such as when consumers get the idea to buy, when they actually make their purchase, or when they use the purchased item?

Behavioral

Psychographic

Needs

Impulse

Question-17

Multisegment marketing is likely to __________ and __________.

increase research costs; decrease shipping costs

decrease resale value; increase sales volume

increase sales potential; increase costs

increase sales potential, decrease costs

Question-18

Demand would MOST likely be inelastic for which of the following?

Lamb chops and T-bone steaks

Gourmet cheese

Basic necessities

Luxury watches

Question-19

Financial services provider USAA sends materials about teaching teenagers how to drive safely to USAA customers who have children approaching driving eligibility age. USAA is using __________ information from a customer database to determine which customers should receive the materials.

demographic

geographic

psychographic

behavioral

Question-20

Some television shows have shown actors drinking a cup of Starbucks coffee. In these instances, Starbucks has chosen __________ as a marketing tool.

networking

direct marketing

broadcast advertising

branded entertainment

Question-21

Which of the following are a manager's three primary responsibilities?

Planning, Directing, Controlling

Budgeting, Planning, Controlling

Budgeting, Directing, Controlling

Budgeting, Planning, Directing

Question-22

All of the following are ethical principles identified in the IMA's Statement of Ethical Professional Practice except:

honesty.

teamwork.

objectivity.

responsibility.

Question-23

Which of the following companies would use a job costing system?

Health care provider

Crayon manufacturing company

Potato chip manufacturing corporation

Spring water bottling company

Question-24

When selecting a manufacturing overhead allocation base, managers should select the:

number of products produced.

activity-based products.

cost driver of those manufacturing overhead costs.

same number used in prior years.

Question-25

Conversion costs include:

direct labor and manufacturing overhead.

manufacturing overhead only.

direct materials and direct labor.

direct materials and manufacturing overhead.

Question-26

If the sales price is $20 per unit, the variable cost is $12 per unit, total fixed costs are $12,000, and 15,000 units are produced, the contribution margin per unit is:

Question-27

Which of the following budgets is the comprehensive planning document for the entire organization?

Sales budget

Capital expenditure budget

Master budget

Budgeting income statement

Question-28

Which of the following is a true statement regarding fixed overhead volume variance?

If production volume is less than anticipated, then fixed overhead has been under allocated and the fixed overhead volume variance is favorable.

If production volume is less than anticipated, then fixed overhead has been under allocated and the fixed overhead volume variance is unfavorable.

If production volume is greater than anticipated, then fixed overhead has been under allocated and the fixed overhead volume variance is favorable.

If production volume is greater than anticipated, then fixed overhead has been over allocated and the fixed overhead volume variance is unfavorable.

Question-29

Which of the following is a cash equivalent?

Accounts receivable

Certificates of deposit that mature in less than three months

Certificates of deposit that mature in one year or less

Prepaid expenses

Question-30

All of the following are business reasons for adopting environmentally sustainable practices except:

cost reduction.

competitive strategy.

stakeholder influence.

historical orientation of accounting.

Question-31

The science of ________ was developed by applying general concepts to a particular situation, person, or group.

Organizational Behavior

Anthropology

Psychology

Sociology

Question-32

Organizational behavior is a field of study that investigates the impact the individuals, groups, and structure have on behavior within organizations, for the purpose of applying such knowledge toward improving:

an organization's effectiveness.

an organization's social responsibilities.

the manager's pay.

the quality of the firm's products.

Question-33

Which of the following is an example of an affective attitude?

Believing that you did a good job

The observation that most dogs have four legs

The opinion that it is never acceptable to steal

Anger at being unfairly accused of a wrongdoing

Question-34

Which of the following terms indicates the degree to which people like or dislike themselves?

Core self-evaluation

Authoritarianism

Self-monitoring

Machiavellianism

Question-35

What is the main strength of job rotation?

It eliminates management involvement.

It increases motivation.

It increases productivity.

It decreases training costs.

Question-36

Which of the following is a group decision-making technique?

Mind mapping

Brainstorming

Lateral thinking

Group polarization

Question-37

Which theory of leadership proposes that followers attribute heroic or extraordinary leadership abilities when they observe certain behaviors?

Charismatic leadership theory

Authentic leadership theory

Transactional leadership theory

Attributional leadership theory

Question-38

According to the traditional view of conflict, conflict is:

harmful.

natural.

necessary.

healthy.

Question-39

You describe to your students a new committee within the university that brings together specialists from all different departments to develop a new interdisciplinary program. The structure of the committee best meets the definition of the:

matrix structure.

simple structure.

boundaryless organization.

virtual organization.

Question-40

________ refers to the degree to which jobs within the organization are standardized.

Formalization

Decentralization

Departmentalization

Span of control

Question-41

Oak Construction Company built 128 houses in Hilltop Estates. If the company built 7 times as many colonial style houses as ranch style houses, how many ranch style houses were erected?

Question-42

Calculate the weighted mean for the following data: value=10, weight=2; value=12, weight=6; value=15, weight=8; value=18, weight=6; value=20, weight=2

4.8

Question-43

This year Bronson's Tire Co. reported assets of $545,350 which is $120,640 more than last year. If owner's equity was $192,500 last year, what was the amount of liabilities reported on last year's balance sheet?

$232,210

$473,490

$352,850

$427,930

Question-44

Laser Printing and Graphics offers cash discounts of 2/15, 1/20, n/30 to customers on all purchases. A customer purchased $18,000 of merchandise on May 20. What is the amount of the net payment if the invoice was paid on June 8?

$17,640

$18,000

$17,820

$16,200

Question-45

Matt Stinson invested $4,000 in a simple interest account paying 5.5% per year. If he received $385 in interest, how long did he leave the money in the investment? (Express your answer to the nearest hundredth of a year.)

21 months

1.5 years

21 weeks

175 days

Question-46

Junko Kiera borrowed $13,000 at a discount loan rate of 12% for 30 months. Determine the true interest rate of Junko's loan.

0.171

0.152

0.133

0.141

Question-47

Klemson High-Tech Industries borrowed $65,000 for three years at 14% compounded semi-annually. How much interest will they pay on the loan when they pay it off at the end of the term of the loan? (Express your answer to the nearest cent.)

$32,547.52

$14,627.80

$9,100.00

$32,306.73

Question-48

Determine the future value of an ordinary annuity paying 10% quarterly for nine years if quarterly deposits of $450 are made throughout the nine years.

$25,785.64

$29,830.08

$4,479.53

$6,813.19

Question-49

An asset was purchased on January 3rd costing $75,000 with a salvage value of $2,800 and an estimated useful life of five years. Find the depreciation expense using the straight-line method.

$15,000

$15,440

$14,440

$13,750

Question-50

Mahalyk's Water Fun Shoppe specializes in jet skis. Mahalyk's inventory records showed the following for the past year: purchased 30 jetskis on February 10th at a cost of $4,000 per jetski; purchased 100 jetskis on May 12th at a cost of $3,000 per jetski; purchased 20 jetskis on June 15th at a cost of $3,500 per jetski; purchased 50 jetskis on July 20th at a cost of $2,500 per jetski Use the Average Cost Method to determine Mahalyk's value of ending inventory at the end of July if they had 75 jetskis left in inventory.

$230,625

$210,000

$255,000

$187,500

BM350 Lesson 1 Exam SCORE 100 PERCENT

Question 1 (5 points)

Question 1

Janet is very upset that she can't get tickets to the Rolling Stones concert because they are sold out. Which of the following demand states applies to Janet's situation?

a) Nonexistent demand

b) Latent demand

c) Full demand

d) Overfull demand

Question 2

The __________ environment includes the actors involved in producing, distributing, and promoting an offering. The main actors are the company, suppliers, distributors, dealers, and the target customers.

a) economic

b) management

c) strategic

d) task

Question 3

The __________ in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics), marketing them (marketing and sales), and servicing them (service).

a) operations processes

b) manufacturing processes

c) primary activities

d) secondary activities

Question 4

The success of online purchasing resulted in __________ in the delivery of products and services by intervening in the traditional flow of goods through distribution channels.

a) disintermediation

b) diversification

c) reduced competition

d) deregulation

Question 5

When companies measure the number of people who are willing and able to buy their products, they are measuring:

a) demand.

b) price elasticity.

c) real needs.

d) standard of living.

Question 6

Juan Garcia plans the daily promotional releases about his company's products and services. He can be described as a __________ planner.

a) strategic

b) selective

c) tactical

d) niche

Question 7

As economies advance, a growing proportion of their activities focuses on the production of:

a) products.

b) events.

c) experiences.

d) services.

Question 8

The actual and potential rival offerings and substitutes that a buyer might consider are referred to as the:

a) competition.

b) integrated market.

c) supply chain.

d) marketspace.

Question 9

The value of an offering is described as the:

a) price consumers are charged for a product.

b) cost of manufacturing a product.

c) degree to which consumer demand for a product is positive.

d) sum of the tangible and intangible benefits and costs to customers.

Question 10

Which of the following holds that consumers prefer products that are widely available and inexpensive?

a) The product concept

b) The production concept

c) The selling concept

d) The marketing concept

Question 11

The __________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.

a) organizational plan

b) strategic marketing plan

c) corporate tactical plan

d) corporate mission

Question 12

If a marketer uses warehouses, transportation companies, banks, and insurance companies to facilitate transactions with potential buyers, the marketer is using a _____ channel.

a) service

b) distribution

c) communication

d) relationship

Question 13

Michael Porter's value chain would identify which of the following as a support activity?

a) Shipping out final products

b) Marketing products

c) Procurement

d) Servicing products

Question 14

The holistic marketing framework is designed to address three key management questions. Which of the following is one of those questions?

a) Value claims-how does the company deal with value clutter?

b) Value proposition-how can value propositions be made profitable?

c) Value erosion-are there weak links in the company's value chain?

d) Value exploration-how can a company identify new value opportunities?

Question 15

A(n) __________ strategy is when a company might seek new businesses that have no relationship to its current technology, products, or markets.

a) concentric

b) conglomerate

c) horizontal

d) intensive growth

Question 16

Which of the following is one of the five major characteristics of good mission statements?

a) They focus on a large number of goals.

b) They expand the range of individual employee discretion.

c) They define the major competitive spheres within which the company will operate.

d) They take a short-term view.

Question 17

James Frank has been put in charge of gathering marketing intelligence, disseminating it within his organization, and eventually directing action on the information. Mr. Frank's task is best described as part of the _____ process.

a) market-sensing

b) new-offering realization

c) customer acquisition

d) customer relationship management

Question 18

The __________ is the channel stretching from raw materials to components to final products that are carried to final buyers.

a) communication channel

b) distribution channel

c) supply chain

d) service chain

Question 19

__________ allows the company to discover who its target markets are, how they behave, and what they need or want. It also enables the company to respond appropriately, coherently, and quickly to different customer opportunities.

a) Total quality management

b) Supply chain management

c) Marketing management

d) Customer relationship management

Question 20

The last step in the value creation and delivery sequence is __________ the value where the sales force, sales promotion, advertising, and other communication tools announce and promote the product.

a) developing

b) positioning

c) communicating

d) reversing

BM350 Lesson 2 Exam SCORE 100 PERCENT

Question 1

__________ attached to television sets in participating homes now record when the set is on and to which channel it is tuned.

Question options:

a) Tachistoscopes

b) Polygraphs

c) Audiometers

d) GPS systems

Question 2

The marketing research process begins by:

Question options:

a) developing a research plan.

b) defining the problem, the decision alternatives, and research objectives.

c) analyzing the internal environment.

d) reading marketing research journals.

Question 3

__________ analyze(s) data from a variety of sources, such as retailer scanner data, company shipment data, pricing, media, and promotion spending data, to understand more precisely the effects of specific marketing activities.

Question options:

a) Marketing metrics

b) Marketing-mix models

c) Marketing forecasting

d) Marketing intelligence databases

Question 4

__________ beliefs and values are passed from parents to children and reinforced by social institutions-schools, churches, businesses, and governments; they are very difficult to change.

Question options:

a) Transient

b) Secondary

c) Core

d) Protected

Question 5

__________ data are data that were collected for another purpose and already exist.

Question options:

a) Primary

b) Secondary

c) Primitive

d) Cross-sectional

Question 6

The demand estimates of an organization are comprised of five space levels: They are world, country, region, territory, and:

Question options:

a) zone.

b) organization.

c) customer.

d) product.

Question 7

__________ is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.

Question options:

a) Marketing communications

b) Internal marketing

c) Marketing research

d) Market segmentation

Question 8

The sites which offer positive or negative product or service reviews and are built by the retailers of a particular product or service are called:

Question options:

a) combo sites.

b) distributor or sales agent feedback sites.

c) public blogs.

d) independent service review forums.

Question 9

The __________ market is the set of consumers with an adequate interest, income, and access to a particular offer.

Question options:

a) potential

b) available

c) target

d) penetrated

Question 10

The most scientifically valid research is __________ research.

Question options:

a) observation

b) focus-group

c) survey

d) experimental

Question 11

__________ refer to groups of individuals who are born during the same time period and travel through life together.

Question options:

a) Cohorts

b) Populations

c) Clans

d) Societies

Question 12

If the goal of marketing research is to shed light on the real nature of a problem and to suggest possible solutions or new ideas, the research is said to be:

Question options:

a) descriptive.

b) quantitative.

c) primary.

d) exploratory.

Question 13

People vary in their views of society and their consumption patterns often reflect their social attitudes. __________ usually live more frugally, drive smaller cars, and wear simpler clothing.

Question options:

a) Makers

b) Escapers

c) Seekers

d) Changers

Question 14

In the United States, people born between the years __________ are called baby boomers.

Question options:

a) 1978 and 2002

b) 1946 and 1964

c) 1925 and 1945

d) 1965 and 1985

Question 15

When a company is said to have engaged in "greenwashing," it means that the:

Question options:

a) company has significantly changed its business processes to incorporate a greener, more environmentally friendly philosophy.

b) company has moved its production facilities to countries where environmental laws and regulations are less rigorous.

c) company has changed its "green" image in order to appeal to a different, usually older, demographic.

d) company's products are not nearly as green and environmentally beneficial as its marketing might suggest.

Question 16

The __________ begins with sales representatives and dealers sending orders to firms and is followed by the sales department preparing invoices, and finally generating shipping and billing documents which are then sent to various departments.

Question options:

a) payroll system

b) market research process

c) human resources system

d) order-to-payment cycle

Question 17

Which of the following economies provide limited opportunities to international marketers to develop product sales?

Question options:

a) Capitalist economies

b) Subsistence economies

c) Raw-materials-exporting economies

d) Industrializing economies

Question 18

A company can take several steps to improve the quality of its marketing intelligence. If the company purchases competitive products for study, attends open houses and trade shows, and reads competitors' published reports and stockholder information, the company is using __________ to improve the quality of its marketing intelligence.

Question options:

a) sales-force surrogates

b) intermediaries

c) external networks

d) advisory panels

Question 19

A scale that connects two bipolar words is called a:

Question options:

a) semantic differential.

b) multiple-choice question.

c) Likert scale.

d) dichotomous question.

Question 20

According to the concept of __________, a series of increasingly more specific "why" questions can reveal consumer motivation and consumers' deeper, more abstract goals.

Question options:

a) word association

b) projection

c) visualizing

d) laddering

BM350 Week 3 Threaded Discussion

Compare and contrast B2B marketing with B2C marketing. Choose whether you would rather be engaged in B2B or B2C marketing. Support your choice.

(291 words, 1 reference)

BM350 Lessons 4 & 5 Exam SCORE 97.5 PERCENT

Quiz

Note: It is recommended that you save your response as you complete each question.

Question 1 (2.5 points)

__________ defines which other brands a brand competes with and therefore which brands should be the focus of competitive analysis.

Question 1 options:

a)	Consumer profitability analysis

b)	Competitor indexing

c)	The service blueprint

d)	The competitive frame of reference

Question 2 (2.5 points)

__________ are product associations that are not necessarily unique to the brand but may in fact be shared with other brands.

Question 2 options:

a)	Points-of-parity

b)	Points-of-difference

c)	Points-of-inflection

d)	Points-of-presence

Question 3 (2.5 points)

__________ is a company's ability to perform in one or more ways that competitors cannot or will not match.

Question 3 options:

a)	Brand positioning

b)	Market research

c)	Competitive advantage

d)	Competitor analysis

Question 4 (2.5 points)

The American Marketing Association defines a __________ as "a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors."

Question 4 options:

trademark

slogan

brand

Question 5 (2.5 points)

According to BrandAsset Valuator model, leadership brands show:

Question 5 options:

a)	high levels of energy, differentiation, relevance, knowledge, and esteem.

b)	higher levels of esteem and knowledge than relevance, whereas both differentiation and energy are lower still.

c)	higher levels of differentiation and energy than relevance, whereas both esteem and knowledge are lower still.

d)	low levels on energy, differentiation, relevance, knowledge, and esteem.

Question 6 (2.5 points)

__________ brand equity is the differential effect that brand knowledge has on consumer response to the marketing of that brand.

Question 6 options:

a)	Mission-driven

b)	Customer-based

c)	Product-driven

d)	Service-driven

Question 7 (2.5 points)

A supplier creates better information systems, and introduces bar coding, mixed pallets, and other methods of helping the consumer. The supplier is most likely to be differentiated on its:

Question 7 options:

a)	innovativeness.

b)	reliability.

c)	insensitivity.

d)	resilience.

Question 8 (2.5 points)

Marketers typically focus on brand __________ in choosing the points-of-parity and points-of-difference that make up their brand positioning.

Question 8 options:

equity

awareness

benefits

d)	architecture

Question 9 (2.5 points)

Brand __________ is the added value endowed to products and services.

Question 9 options:

loyalty

equity

c)	preference

identity

Question 10 (2.5 points)

Brand __________ are devices that can be trademarked and serve to identify and differentiate the brand.

Question 10 options:

elements

b)	value propositions

c)	perceptions

images

Question 11 (2.5 points)

Competitive superiority and channel support are factors that influence the __________ multiplier of the brand value chain.

Question 11 options:

program

customer

brand

profit

Question 12 (2.5 points)

Brand salience:

Question 12 options:

a)	is customers' emotional responses and reactions with respect to the brand.

b)	is how often and how easily customers think of the brand under various purchase or consumption situations.

c)	is how well the product or service meets customers' functional needs.

d)	describes the extrinsic properties of the product or service, including the ways in which the brand attempts to meet customers' psychological or social needs.

Question 13 (2.5 points)

Brand __________ are short, three- to five-word phrases that capture the irrefutable essence or spirit of the brand positioning and ensure that the company's own employees understand what the brand represents.

Question 13 options:

mantras

symbols

logos

alliances

Question 14 (2.5 points)

Which of the following statements about the branding guidelines for a small business is TRUE?

Question 14 options:

a)	A small business must creatively conduct low-cost marketing research.

b)	A small business must avoid leveraging secondary brand associations.

c)	A small business must separate the well-integrated brand elements to enhance both brand awareness and brand image.

d)	A small business must disintegrate the brand elements to maximize the contribution of each of the three main sets of brand equity drivers.

Question 15 (2.5 points)

Which of the following value creation processes means translating milestones into symbols and artifacts?

Question 15 options:

Staking

b)	Evangelizing

c)	Milestoning

Badging

Question 16 (2.5 points)

A brand __________ can be defined as any information-bearing experience a customer or prospect has with the brand, the product category, or the market that relates to the marketer's product or service.

Question 16 options:

value

b)	personality

trait

contact

Question 17 (2.5 points)

__________ branding consists of activities and processes that help inform and inspire employees about brands.

Question 17 options:

Internal

Personal

c)	Individual

External

Question 18 (2.5 points)

With respect to the "six brand building blocks," brand __________ signifies how well the product or service meets customers' functional needs.

Question 18 options:

judgment

imagery

salience

d)	performance

Question 19 (2.5 points)

__________ are attributes or benefits that consumers view as essential to a legitimate and credible offering within a certain product or service class.

Question 19 options:

a)	Category points-of-difference

b)	Conceptual points-of-parity

c)	Competitive points-of-parity

d)	Category points-of-parity

Question 20 (2.5 points)

Brand __________ is the job of estimating the total financial worth of the brand.

Question 20 options:

tracking

auditing

equity

valuation

Question 21 (2.5 points)

When the total market expands, the market __________ usually gains the most.

Question 21 options:

a)	challenger

leader

follower

nicher

Question 22 (2.5 points)

An alternative to being a market follower in a large market is to be a leader in a small market. This type of competitor is called a:

Question 22 options:

a)	marketing king.

b)	market nicher.

c)	segment king.

d)	guerilla marketer.

Question 23 (2.5 points)

When firms look for new users in groups that have never used the product before, the firm is using the __________ strategy.

Question 23 options:

a)	new-market segment

b)	market-penetration

c)	geographical-expansion

d)	product development

Question 24 (2.5 points)

Which of the following marketing strategies requires either identifying additional opportunities to use the brand in the same basic way or identifying completely new and different ways to use the brand?

Question 24 options:

a)	Increasing the amount of consumption

b)	Decreasing the level of consumption

c)	Increasing dedication to consumption

d)	Increasing frequency of consumption

Question 25 (2.5 points)

The __________ attack attempts to capture a significant share of the consumer market by launching a grand offensive on several fronts.

Question 25 options:

frontal

bypass

flank

d)	encirclement

Question 26 (2.5 points)

Which of the following is the MOST constructive response a market leader can make when defending its market share?

Question 26 options:

a)	Maintain basic cost control

b)	Innovate continuously

c)	Provide desired benefits

d)	Meet challengers with a swift response

Question 27 (2.5 points)

In __________ defense, the market leader stretches its domain over new territories that can serve as future centers for defense and offense.

Question 27 options:

a)	counteroffensive

flank

c)	contraction

mobile

Question 28 (2.5 points)

Which of the following is TRUE about proactive marketing?

Question 28 options:

a)	A company needs creative anticipation to see the writing on the wall.

b)	Proactive companies create new offers to serve unmet and unknown consumer needs.

c)	Proactive companies refrain from practicing uncertainty management.

d)	A company needs responsive anticipation to devise innovative solutions.

Question 29 (2.5 points)

As a market follower strategy, the __________ duplicates the leader's product and packages and sells it on the black market or through disreputable dealers.

Question 29 options:

innovator

b)	counterfeiter

imitator

adapter

Question 30 (2.5 points)

If Microsoft announces plans for a new-product development, smaller firms may choose to concentrate their development efforts in other directions to avoid head-to-head competition. In this example, Microsoft is employing a __________ defense strategy.

Question 30 options:

a)	preemptive

b)	counteroffensive

mobile

flank

Question 31 (2.5 points)

A firm that is willing to maintain its market share, and not attack the leader and other competitors in an aggressive bid for further market share, is known as a market:

Question 31 options:

a)	challenger.

leader.

follower.

nicher.

Question 32 (2.5 points)

A market leader on the lookout for more usage from existing customers should focus on increasing the frequency of consumption and:

Question 32 options:

a)	decreasing the product price.

b)	the product line.

c)	the amount of consumption.

d)	decreasing production turnover time.

Question 33 (2.5 points)

A(n) __________ strategy is another name for identifying shifts in market segments that are causing gaps to develop, then rushing in to fill the gaps and developing them into strong segments.

Question 33 options:

a)	frontal attack

flanking

c)	encircling

d)	counteroffensive

Question 34 (2.5 points)

Aron, a company manufacturing snack food and soft drinks, replicates its product taste and packaging from Lay's, a market leader in snack food industry. Later, it sells these imitated products on the black market. This is an example of:

Question 34 options:

cloning.

b)	imitating.

c)	counterfeiting.

adapting.

Question 35 (2.5 points)

The __________ attack can be used when the challenger spots areas where the opponent is underperforming.

Question 35 options:

a)	encirclement

frontal

c)	flank-geographic

d)	backwards-flank

Question 36 (2.5 points)

__________ defense is an aggressive maneuver where the firm attacks first, perhaps with guerrilla action across the market, keeping everyone off-balance.

Question 36 options:

Position

Flank

c)	Contraction

d)	Preemptive

Question 37 (2.5 points)

In a __________ defense strategy, the market leader can meet the attacker frontally and hit its flank, or launch a pincer movement so that it's forced to pull back to defend itself.

Question 37 options:

position

b)	counteroffensive

c)	preemptive

d)	contraction

Question 38 (2.5 points)

A(n) __________ marketer looks ahead to needs customers may have in the near future.

Question 38 options:

a)	anticipative

creative

c)	inexperienced

d)	responsive

Question 39 (2.5 points)

When large companies can no longer defend all their territory, they launch a __________ defense where they give up weaker markets and reassign resources to stronger ones.

Question 39 options:

a)	contraction

b)	preemptive

flank

mobile

Question 40 (2.5 points)

Clorox runs ads stressing the many benefits of its bleach-such as how it eliminates kitchen odors-in order to generate additional opportunities to use the brand in the same basic way. This is an attempt to increase the _____ of consumption.

Question 40 options:

amount

level

c)	perception

frequency

BM350 B2B buying process

Imagine that you are a B2B sales consultant. What steps are there in the B2B buying process? In which of these steps might you be able to provide guidance and/or influence the buying decision? How?

(215 words)

BM350 Exam-1

Question-1

A __________ is a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries.

A. metamarket

B. vertically integrated market

C. horizontally integrated market

D. marketspace

Question-2

When eBay and Amazon.com cut out the majority of middlemen that normally would participate in the exchange process, it is an example of:

A. deregulation.

B. reverse auctioning.

C. reintermediation.

D. disintermediation.

Question-3

As economies advance, a growing proportion of their activities focuses on the production of:

A. products.

B. events.

C. experiences.

D. services.

Question-4

Michael Porter's value chain would identify which of the following as a support activity?

A. Shipping out final products

B. Marketing products

C. Procurement

D. Servicing products

Question-5

__________ goods constitute the bulk of most countries' production and marketing efforts.

A. Durable

B. Impulse

C. Physical

D. Luxury

Question-6

The value of an offering is described as:

A. the price consumers are charged for a product.

B. the cost of manufacturing a product.

C. the degree to which consumer demand for a product is positive.

D. the sum of the tangible and intangible benefits and costs to customers.

Question-7

The __________ is the channel stretching from raw materials to components to final products that are carried to final buyers.

A. communication channel

B. distribution channel

C. supply chain

D. service chain

Question-8

Companies address needs by putting forth a __________, a set of benefits that they offer to customers to satisfy their needs.

A. brand

B. value proposition

C. deal

D. marketing plan

Question-9

Juan Garcia plans the daily promotional releases about his company's products and services. He can be described as a __________ planner.

A. strategic

B. selective

C. tactical

D. niche

Question-10

Which of the following is one of the five major characteristics of good mission statements?

A. They focus on a large number of goals.

B. They expand the range of individual employee discretion.

C. They define the major competitive spheres within which the company will operate.

D. They take a short-term view.

Question-11

Rising promotion costs and shrinking profit margins are the result of:

A. new and improved technology.

B. disintermediation.

C. industry convergence.

D. heightened competition.

Question-12

The __________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.

A. organizational plan

B. strategic marketing plan

C. corporate tactical plan

D. corporate mission

Question-13

The success of online purchasing resulted in __________ in the delivery of products and services by intervening in the traditional flow of goods through distribution channels.

A. disintermediation

B. diversification

C. reduced competition

D. deregulation

Question-14

When companies measure the number of people who are willing and able to buy their products, they are measuring:

A. demand.

B. price elasticity.

C. real needs.

D. standard of living.

Question-15

A. market-sensing process.

B. new-offering realization process.

C. customer acquisition process.

D. customer relationship management process.

Question-16

What are hollow corporations?

A. Companies that market their products through franchisees

B. Companies that have liabilities exceeding their assets

C. Companies that outsource all production to suppliers

D. Companies that do not have any physical presence and only operate online

Question-17

A characteristic of a __________ is that it can be a single business or collection of related businesses that can be planned separately from the rest of the company.

A. strategic business unit

B. subsidiary unit

C. merged unit

D. niche market unit

Question-18

If a marketer uses warehouses, transportation companies, banks, and insurance companies to facilitate transactions with potential buyers, the marketer is using a:

A. service channel.

B. distribution channel.

C. communication channel.

D. relationship channel.

Question-19

A(n) __________ is when a company might seek new businesses that have no

relationship to its current technology, products, or markets.

A. concentric strategy

B. diversification strategy

C. horizontal strategy

D. intensive growth strategy

Question-20

A. operations processes

B. manufacturing processes

C. primary activities

D. secondary activities

BM350 Online Exam-2

Question-1

__________ attached to television sets in participating homes now record when the set is on and to which channel it is tuned.

A. Tachistoscopes

B. Polygraphs

C. GPS systems

D. Audiometers

Question-2

The marketing research process begins by:

A. developing a research plan.

B. defining the problem, the decision alternatives, and research objectives.

C. analyzing the internal environment.

D. reading marketing research journals.

Question-3

A. sales-force surrogates

B. intermediaries

C. external networks

D. advisory panels

Question-4

The sites which offer positive or negative product or service reviews and are built by the retailers of a particular product or service are called:

A. combo sites.

B. distributor or sales agent feedback sites.

C. public blogs.

D. independent service review forums.

Question-5

The internal records system supplies results data, but the marketing intelligence system supplies __________ data.

A. internal

B. revenue

C. thematic

D. happenings

Question-6

__________ beliefs and values are passed from parents to children and reinforced by social institutions—schools, churches, businesses, and governments; they are very difficult to change.

A. Transient

B. Secondary

C. Protected

D. Core

Question-7

According to the concept of __________, a series of increasingly more specific "why" questions can reveal consumer motivation and consumers' deeper, more abstract goals.

A. word association

B. projection

C. visualizing

D. laddering

Question-8

If the goal of marketing research is to shed light on the real nature of a problem and to suggest possible solutions or new ideas, the research is said to be:

A. descriptive.

B. quantitative.

C. primary.

D. exploratory.

Question-9

The consumer environmental segment termed __________ claims to be knowledgeable about environmental issues, but does not express pro-green attitudes or behaviors. Indeed, it is practically hostile toward pro-environmental ideas. This segment has chosen to reject prevailing notions about environmental protection and may even be viewed as a potential threat to green initiatives.

A. not me greens

B. business first greens

C. mean greens

D. go-with-the-flow greens

Question-10

__________ are data that were collected for another purpose and already exist.

A. Primary data

B. Secondary data

C. Primitive data

D. Cross-sectional data

Question-11

The heart of the internal records system is the:

A. payroll system.

B. purchase order cycle.

C. order-to-payment cycle.

D. expense cycle.

Question-12

__________ approach uses concepts and tools from anthropology and other social science disciplines to provide deep cultural understanding of how people live and work.

A. Cognitive research

B. Inductive research

C. Archaeological research

D. Ethnographic research

Question-13

A. Marketing metrics

B. Marketing-mix models

C. Marketing forecasting

D. Marketing intelligence databases

Question-14

__________ is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.

A. Marketing communications

B. Internal marketing

C. Marketing research

D. Market segmentation

Question-15

In which of the following types of tests is a picture presented and respondents are asked to make up a story about what they think is happening or may happen in the picture?

A. Visual perception test

B. Rorschach ink-blot test

C. Story completion test

D. Thematic Apperception Test

Question-16

__________ refer to groups of individuals who are born during the same time period and travel through life together.

A. Cohorts

B. Populations

C. Clans

D. Societies

Question-17

A field-service firm is a:

A. custom marketing research firm.

B. syndicated-service research firm.

C. specialty-line marketing research firm.

D. consumer marketing research firm.

Question-18

The __________ market is the set of consumers with an adequate interest, income, and access to a particular offer.

A. potential

B. available

C. target

D. penetrated

Question-19

Why must the researchers avoid generalizing from focus-group participants to the whole market?

A. Participants' responses are not reliable.

B. Most of the participants are likely to be ignorant about the topic of discussion.

C. The size of the group is too small and the sample is not drawn randomly.

D. Most of the participants are likely to exhibit similar tastes and preferences.

Question-20

The most scientifically valid research is __________ research.

A. observation

B. focus-group

C. survey

D. experimental

BM350 Online Exam-3

Question-1

Cocktail lounges in restaurants are examples of:

A. differential pricing.

B. cultivating nonpeak demand.

C. complementary services.

D. reservation systems.

Question-2

A consumer products firm manufactures and sells over 200 different sizes and varieties of jams and jellies. We can say that this manufacturer's product mix has high:

A. consistency.

B. depth.

C. intensity.

D. range.

Question-3

Services high in __________ are those services that have characteristics the buyer normally finds hard to evaluate even after consumption.

A. trial qualities

B. search qualities

C. experience qualities

D. credence qualities

Question-4

__________ is a measure of the probability that a product will not malfunction or fail within a specified time period.

A. Reparability

B. Durability

C. Reliability

D. Specialty

Question-5

Customers today want separate prices for each service element and they also want the right to select the elements they want. The customers are said to be pressing for:

A. complementary services.

B. perishable services.

C. variable services.

D. unbundled services.

Question-6

A(n. __________ is defined as a distinct unit within a brand or product line distinguishable by size, price, appearance, or some other attribute.

A. stockkeeping unit

B. inventory turn

C. individual brand

D. product type

Question-7

Unlike physical products, services cannot be seen, tasted, felt, heard, or smelled before they are bought. This is known as the __________ aspect of services.

A. inseparability

B. intangibility

C. variability

D. perishability

Question-8

Which of the following is an example of a hybrid service?

A. Teaching

B. Car

C. Restaurant meal

D. Soap

Question-9

A computer falls into the __________ category of service mix.

A. pure tangible good

B. tangible good with accompanying services

C. hybrid

D. major service with accompanying minor goods

Question-10

__________ refer(s. to logos, symbols, characters, and slogans that service providers use in order

to make the service and its key benefits more tangible.

A. Brand engagement

B. Brand orientation

C. Brand elements

D. Brand loyalty

Question-11

Expensive equipment manufacturers not only install the equipment but also train the staff and undertake the maintenance and repair activities of the equipment. By doing so, they are providing:

A. payment equity.

B. value-augmenting services.

C. differential pricing.

D. facilitating services.

Question-12

A. Reliability

B. Responsiveness

C. Assurance

D. Empathy

Question-13

When customers calculate the perceived economic benefits of a continuously provided service in relationship to the economic costs, they are gauging the:

A. private equity.

B. brand equity.

C. payment equity.

D. customer-service equity.

Question-14

The __________ rates the various elements of the service bundle and identifies required actions.

A. company performance analysis

B. voice of customer measurement

C. customer factor measurement

D. importance-performance analysis

Question-15

A. product type.

B. product class.

C. need family.

D. product line.

Question-16

Industrial goods can be classified as __________, capital items, or suppliers and business services based on their relative cost and how they enter the production process.

A. service components

B. sub-assemblies

C. accessories

D. materials and parts

Question-17

What types of goods are purchased frequently, immediately, and with minimum effort by the consumers?

A. Specialty goods

B. Shopping goods

C. Convenience goods

D. Durable goods

Question-18

Marketers have traditionally classified products on the basis of three characteristics: __________, tangibility, and use.

A. availability

B. affordability

C. aesthetics

D. durability

Question-19

Which of the following is a benefit of product mapping?

A. Studying market matrices

B. Integrating target markets

C. Identifying market segments

D. Educating consumers

Question-20

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and:

A. natural products.

B. component materials.

C. operating supplies.

D. equipment.

BM350 Online Exam -4

Question-1

Deducting the desired profit margin from the price at which a product will sell, given its appeal and competitors' prices, is known as:

A. overhead costing.

B. target costing.

C. activity based costing.

D. benefit analysis.

Question-2

Which of the following is the first step in setting a pricing policy?

A. Selecting a pricing method

B. Selecting the pricing objective

C. Determining demand

D. Estimating cost

Question-3

In a(n. __________, the buyer announces something he or she wants to buy, and potential sellers compete to offer the lowest price.

A. Dutch auction with one buyer and many sellers

B. English auction with one buyer and many sellers

C. English auction with one seller and many buyers

D. sealed-bid auction

Question-4

A market-penetration pricing strategy is most suitable when:

A. a low price slows down market growth.

B. production and distribution costs fall with accumulated production experience.

C. a high price dissuades potential competitors from entering the market.

D. the market is characterized by inelastic demand.

Question-5

A retailer who holds on to a(n. __________ policy charges a constant low price with little or no price promotions and special sales.

A. everyday low pricing

B. high-low pricing

C. low cost

D. going-rate pricing

Question-6

A. Usual discounted price

B. Fair price

C. Maximum retail price

D. Last price paid

Question-7

The first step in estimating demand is to:

A. analyze competitors' cost.

B. select a pricing method.

C. understand what affects price sensitivity.

D. calculate fixed costs.

Question-8

Which of the following is the most elementary pricing method?

A. Value pricing

B. Going-rate pricing

C. Markup pricing

D. Target-return pricing

Question-9

In __________, the firm bases its price largely on competitors' prices.

A. going-rate pricing

B. auction-type pricing

C. markup pricing

D. target-return pricing

Question-10

A firm that is plagued with overcapacity, intense competition, or changing wants would do better if it pursues __________ as its major objective.

A. market skimming

B. product-quality leadership

C. survival

D. profit maximization

Question-11

Companies that aim to __________ strive to be affordable luxuries.

A. survive in the market

B. partially recover their costs

C. maximize their market share

D. be product-quality leaders

Question-12

__________ price refers to what the consumers feel the product should cost.

A. Fair

B. Typical

C. Usual discounted

D. List

Question-13

The reservation price or the maximum that most consumers would pay for a given product is known as the __________ price.

A. expected future

B. usual discounted

C. upper-bound

D. typical

Question-14

__________ is the cost per unit at that level of production.

A. Target cost

B. Average cost

C. Marginal cost

D. Opportunity cost

Question-15

Which of the following is true regarding price elasticity?

A. The higher the elasticity, the lesser is the volume growth resulting from a 1 percent price reduction.

B. Within the price indifference band, price changes have little or no effect on demand.

C. If demand is elastic, sellers will consider increasing the price.

D. Price elasticity does not depend on magnitude and direction of the contemplated price change.

Question-16

The decline in the average cost of production with accumulated production experience is called the:

A. demand curve.

B. supply chain.

C. learning curve.

D. value chain.

Question-17

__________ consist of the sum of the fixed and variable costs for any given level of production.

A. Total costs

B. Average costs

C. Opportunity costs

D. Learning costs

Question-18

Companies that believe that a higher sales volume leads to lower unit costs and higher long-run profits are attempting to:

A. maximize their market share.

B. skim the market.

C. become a product-quality leader.

D. merely survive in the market.

Question-19

When a company introduces a product at a very high price and then gradually drops the price over time, it is pursuing a __________ strategy.

A. market-penetration pricing

B. market-skimming pricing

C. value-pricing

D. switching cost

Question-20

When consumers examine products, they often compare an observed price to an internal price they remember. This is known as a(n. __________ price.

A. markup

B. reference

C. market-skimming

D. accumulated

Question-21

The number of different persons or households exposed to a particular media schedule at least once during a specified time period is known as:

A. range.

B. impact.

C. intensity.

D. reach.

Question-22

Which of the following is an element of an offer strategy?

A. The medium used for delivery

B. The number of customers in the locality

C. The vision of the company

D. The skills required for production

Question-23

Which of the following steps in the innovation-adoption model of marketing communications corresponds to the cognitive stage that a buyer passes through?

A. Interest

B. Evaluation

C. Trial

D. Awareness

Question-24

__________ refers to simple exaggerations in advertisements that are not meant to be believed and that are permitted by law.

A. Puffery

B. Boasting

C. Pseudo promotion

D. Doublethink

Question-25

Which of the following is an example of an advertising platform?

A. Posters and leaflets

B. Company magazines

C. Fairs and trade shows

D. Sales presentations

Question-26

The Internet provides marketers and consumers with opportunities for much greater interaction and __________ than other marketing channels.

A. control

B. data security

C. high involvement selling

D. individualization

Question-27

Which of the following sequences accurately represents the hierarchy-of-effects model of marketing communications?

A. Attention-interest-desire-action

B. Awareness-interest-evaluation-trial-adoption

C. Awareness-knowledge-liking-preference-conviction-purchase

D. Exposure-reception-cognitive response-attitude-intention-behavior

Question-28

Buzz and viral marketing both try to:

A. use unethical methods to popularize a brand.

B. market products by providing free samples to customers.

C. create a splash in the marketplace to showcase a brand.

D. induce impulse sales by displaying products close to the pay counters.

Question-29

According to researchers, which of the following is the correct order in which content of print advertisements matter?

A. Picture-headline-copy

B. Copy-picture-headline

C. Headline-copy-picture

D. Picture-copy-headline

Question-30

__________ is the number of times the average buyer buys a product during the period.

A. Buyer turnover

B. Purchase frequency

C. Customer retention rate

D. Advertising impressions

Question-31

Which of the following is an example of a trade promotion?

A. Free samples

B. Discount coupons

C. Display allowances

D. Contests for sales reps

Question-32

Which of the following media timing factors expresses the rate at which new customers enter the market?

A. Buyer turnover

B. Purchase frequency

C. Media reach

D. Weighted number of exposures

Question-33

The weighted number of exposures (WE. of an advertising message over a given medium is given by:

A. WE = reach * frequency.

B. WE = (reach * frequency. / impact.

C. WE = reach * frequency * impact.

D. WE = (reach + frequency. / impact.

Question-34

The original and oldest form of direct marketing is:

A. billboards.

B. banner advertising.

C. mail campaigns.

D. field sales calls.

Question-35

The qualitative value of an exposure through a given medium is known as:

A. frequency.

B. reach.

C. amplitude.

D. impact.

Question-36

Which of the following marketing communications tools is most influential at the maturity stage of a product's life cycle?

A. Sales promotions

B. Direct marketing

C. Advertising

D. Publicity

Question-37

Marketing communication strategy can be decided by conducting an image analysis by profiling the target audience in terms of:

A. brand knowledge.

B. purchase patterns.

C. demographic characteristics.

D. income levels.

Question-38

Which of the following is generally acknowledged as the most powerful advertising medium and reaches a broad spectrum of consumers at low cost per exposure?

A. Television

B. Radio

C. Newspapers

D. Magazines

Question-39

Which of the following elements of the marketing communications mix involves a variety of short-term incentives to encourage trial or purchase of a product or service?

A. Advertising

B. Direct marketing

C. Public relations

D. Sales promotion

Question-40

People who know and communicate with a great number of other people are called:

A. buzzers.

B. connectors.

C. informants.

D. stickers.

BM350 Online Exam-5

Question-1

In the purchasing decision process, the major role of __________ is in selecting vendors and negotiating.

A. gatekeepers

B. buyers

C. initiators

D. approvers

Question-2

The __________ says people have a general tendency to attribute success to themselves and failure to external causes.

A. availability heuristic

B. trait-role theory

C. awareness set

D. hedonic bias

Question-3

With respect to consumer decision making, the __________ is the set of strong contenders from which one will be chosen as a supplier of a good or service.

A. total set

B. awareness set

C. consideration set

D. choice set

Question-4

Many business buyers prefer to buy a total solution to a problem from one seller. This process is also known as:

A. channel consolidation.

B. systems buying.

C. vertical buying.

D. horizontal buying.

Question-5

In a __________ purchasing situation, the buyer wants to make some change to existing product specifications, prices, delivery requirements, or other terms.

A. new rebuy

B. regular buy

C. straight rebuy

D. modified rebuy

Question-6

With respect to e-procurement, which of the two types of e-hubs are websites organized around?

A. Vertical and horizontal hubs

B. Vertical and functional hubs

C. Functional hubs and organizational hubs

D. Supplier and user hubs

Question-7

__________ portrays the "whole person" interacting with his or her environment.

A. Attitude

B. Personality

C. Lifestyle

D. Self-concept

Question-8

Brands that meet consumers' initial buying criteria are called the:

A. total set.

B. awareness set.

C. consideration set.

D. choice set.

Question-9

In reordering office supplies, the only stages that the buyer passes through are the product specification stage and the __________ stage.

A. problem recognition

B. general need description

C. order-routine specification

D. performance review

Question-10

A(n) __________ group is one whose values or behavior an individual rejects.

A. aspirational

B. disassociative

C. membership

D. primary

Question-11

A __________ is a person, household, or company that over time yields a revenue stream that exceeds by an acceptable amount the company's cost stream of attracting, selling, and servicing that customer.

A. prospector

B. profitable customer

C. market challenger

D. market nicher

Question-12

Ultimately, the amount of steel sold to General Motors depends on the consumers' demand for GM cars and trucks. From the standpoint of the steel manufacturer, which of the following demand forms is most pertinent?

A. Derived demand

B. Inelastic demand

C. Geographic demand

D. Relational demand

Question-13

Marketers need to identify the hierarchy of attributes that guide consumer decision making in order to understand different competitive forces and how these various sets get formed. This process of identifying the hierarchy is called:

A. market partitioning.

B. brand association.

C. market valuation.

D. market estimation.

Question-14

A __________ establishes a long-term relationship in which the supplier promises to resupply the buyer as needed, at agreed-upon prices, over a specified period of time.

A. stockless purchase plan

B. direct stock purchase plan

C. defined contribution plan

D. stock purchase plan

Question-15

__________ teaches marketers that they can build demand for a product by associating it with strong drives, using motivating cues, and providing positive reinforcement.

A. Demand theory

B. Learning theory

C. Economic theory

D. Psychological theory

Question-16

The 80-20 rule reflects the idea that:

A. 20% of the company's profits are generated by the top 80% of customers.

B. the top 20% of customers are highly satisfied and 80% of customers will recommend the company to a friend.

C. 20% of customers are unprofitable, and 80% make up a company's profits.

D. the top 20% of customers often generate 80% of the company's profits.

Question-17

The __________ approach to consumer research asks customers to attach a monetary value to alternative levels of a given attribute. The value of a given configuration is determined by adding the average values of each of the given attributes.

A. benchmarking

B. compositional

C. importance rating

D. focus-group

Question-18

The relatively homogeneous and enduring divisions in a society, which are hierarchically ordered and whose members share similar values, interests, and behavior, constitute:

A. a culture.

B. a subculture.

C. a social class.

D. a family.

Question-19

__________ is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering.

A. Total customer cost

B. Total customer benefit

C. Total benefits of ownership

D. Value proposition

Question-20

A company's __________ includes all the experiences the customer will have on the way to obtaining and using the offering.

A. value proposition

B. value delivery system

C. customer-value analysis

D. total customer benefit

Question-21

A supplier creates better information systems, and introduces bar coding, mixed pallets, and other methods of helping the consumer. The supplier is most likely to be differentiated on its:

A. innovativeness.

B. reliability.

C. insensitivity.

D. resilience.

Question-22

__________ are attributes or benefits that consumers view as essential to a legitimate and credible offering within a certain product or service class.

A. Category points-of-difference

B. Conceptual points-of-parity

C. Competitive points-of-parity

D. Category points-of-parity

Question-23

The first step in the strategic brand management process is:

A. measuring consumer brand loyalty.

B. identifying and establishing brand positioning.

C. planning and implementing brand marketing.

D. measuring and interpreting brand performance.

Question-24

__________ defines which other brands a brand competes with and therefore which brands should be the focus of competitive analysis.

A. Consumer profitability analysis

B. Competitor indexing

C. The service blueprint

D. The competitive frame of reference

Question-25

If a consumer, trying to decide between alternatives, believes that a particular brand delivers acceptable product performance and can be short-listed, she is in the __________ level of the brand dynamics pyramid.

A. presence

B. relevance

C. performance

D. advantage

Question-26

Which of the following value creation processes means translating milestones into symbols and artifacts?

A. Staking

B. Evangelizing

C. Milestoning

D. Badging

Question-27

With respect to the "six brand building blocks," __________ signifies how well the product or service meets customers' functional needs.

A. brand judgment

B. brand imagery

C. brand salience

D. brand performance

Question-28

__________ is a company's ability to perform in one or more ways that competitors cannot or will not match.

A. Brand positioning

B. Market research

C. Competitive advantage

D. Competitor analysis

Question-29

A __________ can be defined as any information-bearing experience a customer or prospect has with the brand, the product category, or the market that relates to the marketer's product or service.

A. brand value

B. brand personality

C. brand trait

D. brand contact

Question-30

__________ are product associations that are not necessarily unique to the brand but may in fact be shared with other brands.

A. Points-of-parity

B. Points-of-difference

C. Points-of-inflection

D. Points-of-presence

Question-31

__________ refers to the products or sets of products with which a brand competes and which function as close substitutes.

A. Consumer profitability analysis

B. Competitive frame of reference

C. Category membership

D. Value membership

Question-32

Which of the following criteria relates to consumers seeing the brand association as personally relevant to them?

A. Deliverability

B. Authenticity

C. Desirability

D. Differentiability

Question-33

Which of the following statements about the branding guidelines for a small business is true?

A. A small business must creatively conduct low-cost marketing research.

B. A small business must avoid leveraging secondary brand associations.

C. A small business must separate the well-integrated brand elements to enhance both brand awareness and brand image.

D. A small business must disintegrate the brand elements to maximize the contribution of each of the three main sets of brand equity drivers.

Question-34

_________ are short, three- to five-word phrases that capture the irrefutable essence or spirit of

the brand positioning and ensure that the company's own employees understand what the brand represents.

A. Brand mantras

B. Brand symbols

C. Brand logos

D. Brand alliances

Question-35

Competitive superiority and channel support are factors that influence the __________ of the brand value chain.

A. program multiplier

B. customer multiplier

C. brand multiplier

D. profit multiplier

Question-36

Which of the following types of differentiation refers to companies effectively designing their distribution medium's coverage, expertise, and performance to make buying the product easier and more enjoyable and rewarding?

A. Service differentiation

B. Channel differentiation

C. Image differentiation

D. Product differentiation

Question-37

__________ is the job of estimating the total financial worth of the brand.

A. Brand tracking

B. Brand auditing

C. Brand equity

D. Brand valuation

Question-38

Branding is:

A. all about creating unanimity between products.

B. the process of performing market research and selling products or services to customers.

C. endowing products and services with the power of a brand.

D. the process of comparing competing brands available in the market.

Question-39

Suppliers who are dependable in their on-time delivery, order completeness, and order-cycle time are most likely to be differentiated based on:

A. resilience.

B. innovativeness.

C. insensitivity.

D. reliability.

Question-40

One common difficulty in creating a strong, competitive brand positioning is that many of the attributes or benefits that make up the points-of-parity and points-of-difference are:

A. negatively correlated.

B. always correlated.

C. directly proportional.

D. never correlated.

BM350 Online Exam-6

Question-1

A marketing manager has planned a strategy that will require the organization to erect outposts to protect its weak front-running brands. In this __________ defense, the outposts will be central to the organization's new competitive strategy.

A. position

B. flank

C. preemptive

D. counteroffensive

Question-2

A firm that is willing to maintain its market share, and not attack the leader and other competitors in an aggressive bid for further market share, is known as a:

A. market challenger.

B. market leader.

C. market follower.

D. market nicher.

Question-3

__________ defense involves occupying the most desirable market space in the minds of the consumers and making the brand almost impregnable.

A. Position

B. Flank

C. Preemptive

D. Mobile

Question-4

Which of the following is true about proactive marketing?

A. A company needs creative anticipation to see the writing on the wall.

B. Proactive companies create new offers to serve unmet and unknown consumer needs.

C. Proactive companies refrain from practicing uncertainty management.

D. A company needs responsive anticipation to devise innovative solutions.

Question-5

In a pure __________ attack, the attacker matches its opponent's product, advertising, price, and distribution.

A. guerilla

B. bypass

C. encirclement

D. frontal

Question-6

A. preemptive defense

B. counteroffensive defense

C. mobile defense

D. flank defense

Question-7

A(n. __________ marketer looks ahead to needs customers may have in the near future.

A. anticipative

B. creative

C. inexperienced

D. responsive

Question-8

When Starbucks introduced its Tazo Tea line to bring in new customers who had never gone to Starbucks because they don't drink coffee, Starbucks was employing a __________ strategy.

A. market-penetration

B. new-market segment

C. geographical-expansion

D. niche identification

Question-9

As a market follower strategy, the __________ duplicates the leader's product and packages and sells it on the black market or through disreputable dealers.

A. innovator

B. counterfeiter

C. imitator

D. adapter

Question-10

When large companies can no longer defend all their territory, they launch a __________ defense where they give up weaker markets and reassign resources to stronger ones.

A. contraction

B. preemptive

C. flank

D. mobile

Question-11

Clorox runs ads stressing the many benefits of its bleach—such as how it eliminates kitchen odors—in order to generate additional opportunities to use the brand in the same basic way. This is an attempt to:

A. increase the amount of consumption.

B. increase the level of consumption.

C. increase the perception of consumption.

D. increase the frequency of consumption.

Question-12

A. cloning.

B. imitating.

C. counterfeiting.

D. adapting.

Question-13

In __________, the market leader stretches its domain over new territories that can serve as future centers for defense and offense.

A. counteroffensive defense

B. flank defense

C. contraction defense

D. mobile defense

Question-14

In a __________ defense strategy, the market leader can meet the attacker frontally and hit its flank, or launch a pincer movement so that it's forced to pull back to defend itself.

A. position

B. counteroffensive

C. preemptive

D. contraction

Question-15

When the total market expands, the __________ usually gains the most.

A. market challenger

B. market leader

C. market follower

D. market nicher

Question-16

__________ marketers are not just market-driven, they are proactive market-driving firms.

A. Creative

B. Responsive

C. Inexperienced

D. Laidback

Question-17

When food product companies advertise recipes that use their branded products in entirely different ways, they are increasing the __________ of the brand.

A. amount of consumption

B. level of consumption

C. dedication to consumption

D. frequency of consumption

Question-18

Which of the following is the most constructive response a market leader can make when defending its market share?

A. Maintain basic cost control

B. Innovate continuously

C. Provide desired benefits

D. Meet challengers with a swift response

Question-19

The __________ attack attempts to capture a significant share of the consumer market by launching a grand offensive on several fronts.

A. frontal

B. bypass

C. flank

D. encirclement

Question-20

An alternative to being a market follower in a large market is to be a leader in a small market. This type of competitor is called a:

A. marketing king.

B. market nicher.

C. segment king.

D. guerilla marketer.

BM350 Lessons 6 & 7 Exam SCORE 95 PERCENT

Question 1

Customers today want separate prices for each service element and they also want the right to select the elements they want. The customers are said to be pressing for _____ services.

Question options:

a)	complementary

b)	perishable

c)	variable

d)	unbundled

Question 2

The zone of __________ is a range where a service dimension is deemed satisfactory, anchored by the minimum level consumers are willing to accept and the level they believe can and should be delivered.

Question options:

a)	immunity

b)	tolerance

c)	reliability

d)	assurance

Question 3

Services high in __________ qualities have characteristics that the buyers can evaluate before purchase.

Question options:

a)	search

b)	experience

c)	credence

d)	privacy

Question 4

Companies may wish to implement a(n) __________ to achieve more growth, to realize higher margins, or simply to position themselves as full-line manufacturers.

Question options:

a)	up-market stretch

b)	rebranding plan

c)	outsourcing strategy

d)	disintermediation policy

Question 5

How a consumer shops for organic foods and how he or she uses and disposes of the product is part of the consumers' __________ that is important for marketers to consider.

Question options:

a)	value proposition

b)	consumption system

c)	value system

d)	quality perception

Question 6

The way the user performs the tasks of getting and using products and related services is the user's total _____ system.

Question options:

a)	consumption

b)	consumable

c)	consistent use

d)	augmented

Question 7

A customer judges a product offering by three basic elements: product features and quality, services mix and quality, and:

Question options:

a)	performance.

b)	utility.

c)	tangibility.

d)	price.

Question 8

A consumer products firm manufactures and sells over 200 different sizes and varieties of jams and jellies. We can say that this manufacturer's product mix has high:

Question options:

a)	consistency.

b)	depth.

c)	intensity.

d)	range.

Question 9

Question options:

a)	Reliability

b)	Responsiveness

c)	Assurance

d)	Empathy

Question 10

Marketers have traditionally classified products on the basis of three characteristics: __________, tangibility, and use.

Question options:

a)	availability

b)	affordability

c)	aesthetics

d)	durability

Question 11

Regular maintenance and repair costs are known as _____ costs.

Question options:

a)	service contract

b)	out-of-pocket

fixed

d)	facilitating services

Question 12

Cocktail lounges in restaurants are examples of:

Question options:

a)	differential pricing.

b)	cultivating nonpeak demand.

c)	complementary services.

d)	reservation systems.

Question 13

Which of the following is an example of a hybrid service?

Question options:

a)	Teaching

Car

c)	Restaurant meal

Soap

Question 14

Which of the following is a benefit of product mapping?

Question options:

a)	Studying market matrices

b)	Integrating target markets

c)	Identifying market segments

d)	Educating consumers

Question 15

The __________ of the product mix refers to the total number of items in the mix.

Question options:

width

b)	length

depth

d)	breadth

Question 16

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups:

Question options:

a)	installations and natural products.

b)	installations and component materials.

c)	installations and operating supplies.

d)	installations and equipment.

Question 17

Unlike physical products, services cannot be seen, tasted, felt, heard, or smelled before they are bought. This is known as the __________ aspect of services.

Question options:

a)	inseparability

b)	intangibility

c)	variability

d)	perishability

Question 18

Services high in __________ qualities are those services that have characteristics the buyer normally finds hard to evaluate even after consumption.

Question options:

trial

b)	search

c)	experience

d)	credence

Question 19

The __________ rates the various elements of the service bundle and identifies required actions.

Question options:

a)	company performance analysis

b)	voice of customer measurement

c)	customer factor measurement

d)	importance-performance analysis

Question 20

Industrial goods can be classified as __________, capital items, or suppliers and business services based on their relative cost and how they enter the production process.

Question options:

a)	service components

b)	sub-assemblies

c)	accessories

d)	materials and parts

Lesson 7 Exam

Question 21

In __________ pricing, the firm bases its price largely on competitors' prices.

Question options:

a)	going-rate

b)	auction-type

c)	markup

d)	target-return

Question 22

__________ price refers to what the consumers feel the product should cost.

Question options:

Fair

b)	Typical

c)	Usual discounted

List

Question 23

Question options:

a)	Usual discounted price

b)	Fair price

c)	Maximum retail price

d)	Last price paid

Question 24

Which of the following is the first step in setting a pricing policy?

Question options:

a)	Selecting a pricing method

b)	Selecting the pricing objective

c)	Determining demand

d)	Estimating cost

Question 25

A firm that is plagued with overcapacity, intense competition, or changing wants would do better if it pursues __________ as its major objective.

Question options:

a)	market skimming

b)	product-quality leadership

c)	survival

d)	profit maximization

Question 26

__________ auctions let would-be suppliers submit only one bid; they cannot know the other bids.

Question options:

a)	Descending bid

b)	Sealed-bid

c)	English

Dutch

Question 27

When consumers examine products, they often compare an observed price to an internal price they remember. This is known as a(n) __________ price.

Question options:

a)	markup

b)	reference

c)	market-skimming

d)	accumulated

Question 28

Deducting the desired profit margin from the price at which a product will sell, given its appeal and competitors' prices, is known as:

Question options:

a)	overhead costing.

b)	target costing.

c)	activity based costing.

d)	benefit analysis.

Question 29

The key to perceived-value pricing is to:

Question options:

a)	reengineer the company's operations.

b)	deliver more unique value than competitors.

c)	adopt subtle marketing tactics compared to competitors.

d)	deliver more value but at a lower cost.

Question 30

Which of the following is TRUE regarding price elasticity?

Question options:

a)	The higher the elasticity, the lesser is the volume growth resulting from a 1 percent price reduction.

b)	Within the price indifference band, price changes have little or no effect on demand.

c)	If demand is elastic, sellers will consider increasing the price.

d)	Price elasticity does not depend on magnitude and direction of the contemplated price change.

Question 31

Many consumers are willing to pay $100 for a perfume that contains $10 worth of scent because the perfume is from a well-known brand. What kind of a pricing is the company depending on?

Question options:

a)	Going-rate pricing

b)	Image pricing

c)	Market-skimming pricing

d)	Target pricing

Question 32

A manufacturer has invested $750,000 in a new product and wants to set a price to earn a 15 percent ROI. The cost per unit is $18 and the company expects to sell 50,000 units in the first year. Calculate the company's target-return price for this product.

Question options:

a)	$20.25

b)	$18.23

c)	$18.10

d)	$20.70

Question 33

__________ cost is the cost per unit at that level of production.

Question options:

a)	Target

b)	Average

c)	Marginal

d)	Opportunity

Question 34

When a company introduces a product at a very high price and then gradually drops the price over time, it is pursuing a __________ strategy.

Question options:

a)	market-penetration pricing

b)	market-skimming pricing

c)	value-pricing

d)	switching cost

Question 35

The decline in the average cost of production with accumulated production experience is called the:

Question options:

a)	demand curve.

b)	supply chain.

c)	learning curve.

d)	value chain.

Question 36

If demand changes considerably with a small change in price, the demand is said to be:

Question options:

a)	unit elastic.

b)	elastic.

c)	inelastic.

d)	marginal.

Question 37

Costs that differ directly with the level of production are known as _____ costs.

Question options:

fixed

b)	overhead

c)	opportunity

d)	variable

Question 38

A market-penetration pricing strategy is most suitable when:

Question options:

a)	a low price slows down market growth.

b)	production and distribution costs fall with accumulated production experience.

c)	a high price dissuades potential competitors from entering the market.

d)	the market is characterized by inelastic demand.

Question 39

Companies that believe that a higher sales volume leads to lower unit costs and higher long-run profits are attempting to:

Question options:

a)	maximize their market share.

b)	skim the market.

c)	become a product-quality leader.

d)	merely survive in the market.

Question 40

A company must make payments each month for rent, heat, interest, and salaries. These are _____ costs.

Question options:

total

fixed

c)	variable

d)	opportunity

BM350 Lesson 8 Exam SCORE 95 PERCENT

Question 1

Which of the following elements of the marketing communication mix involves use of mail, telephone, fax, email, or Internet to communicate with or solicit response or dialogue from specific customers and prospects?

Question options:

a)	Advertising

b)	Personal selling

c)	Direct marketing

d)	Public relations

Question 2

Which of the following is a form of earned media for marketing communication messages?

Question options:

a)	Experts providing product reviews

b)	Celebrities endorsing products

c)	Social network discussions about products

d)	Company salespeople contacting target buyers

Question 3

Marketing communication strategy can be decided by conducting an image analysis by profiling the target audience in terms of:

Question options:

a)	brand knowledge.

b)	purchase patterns.

c)	demographic characteristics.

d)	income levels.

Question 4

In __________, marketers bid in a continuous auction on search terms that serve as a proxy for the consumer's product or consumption interests.

Question options:

a)	paid searches

b)	pop-up advertising

c)	display advertising

d)	banner marketing

Question 5

Buzz and viral marketing both try to:

Question options:

a)	use unethical methods to popularize a brand.

b)	market products by providing free samples to customers.

c)	create a splash in the marketplace to showcase a brand.

d)	induce impulse sales by displaying products close to the pay counters.

Question 6

__________ is a measure of communications effectiveness that describes the percentage of target market exposed to a communication.

Question options:

a)	Frequency

Reach

Width

Depth

Question 7

The qualitative value of an exposure through a given medium is known as:

Question options:

a)	frequency.

b)	reach.

c)	amplitude.

d)	impact.

Question 8

The number of different persons or households exposed to a particular media schedule at least once during a specified time period is known as:

Question options:

a)	range.

b)	impact.

c)	intensity.

d)	reach.

Question 9

An advertising __________ is a specific communications task and achievement level to be accomplished with a specific audience in a specific period of time.

Question options:

a)	medium

b)	objective

c)	channel

d)	budget

Question 10

According to researchers, which of the following is the correct order in which content of print advertisements matter?

Question options:

a)	Picture-headline-copy

b)	Copy-picture-headline

c)	Headline-copy-picture

d)	Picture-copy-headline

Question 11

Which of the following is an example of a trade promotion?

Question options:

a)	Free samples

b)	Discount coupons

c)	Display allowances

d)	Contests for sales reps

Question 12

Which of the following is generally acknowledged as the most powerful advertising medium and reaches a broad spectrum of consumers at low cost per exposure?

Question options:

a)	Television

Radio

c)	Newspapers

d)	Magazines

Question 13

The weighted number of exposures (WE) of an advertising message over a given medium is given by:

Question options:

a)	*WE = reach frequency.**

b)	*WE = (reach frequency) / impact.**

c)	*WE = reach frequency * impact.**

d)	WE = (reach + frequency) / impact.

Question 14

__________ refers to simple exaggerations in advertisements that are not meant to be believed and that are permitted by law.

Question options:

a)	Puffery

b)	Boasting

c)	Pseudo promotion

d)	Doublethink

Question 15

__________ advertising aims to stimulate repeat purchase of products and services.

Question options:

a)	Reinforcement

b)	Comparative

c)	Persuasive

d)	Reminder

Question 16

The original and oldest form of direct marketing is:

Question options:

a)	billboards.

b)	banner advertising.

c)	mail campaigns.

d)	field sales calls.

Question 17

Which of the following sequences accurately represents the hierarchy-of-effects model of marketing communications?

Question options:

a)	Attention-interest-desire-action

b)	Awareness-interest-evaluation-trial-adoption

c)	Awareness-knowledge-liking-preference-conviction-purchase

d)	Exposure-reception-cognitive response-attitude-intention-behavior

Question 18

People who know and communicate with a great number of other people are called:

Question options:

a)	buzzers.

b)	connectors.

c)	informants.

d)	stickers.

Question 19

Which of the following elements of the marketing communications mix involves a variety of short-term incentives to encourage trial or purchase of a product or service?

Question options:

a)	Advertising

b)	Direct marketing

c)	Public relations

d)	Sales promotion

Question 20

Which of the following is a disadvantage of using a percentage-of-sales method to determine the marketing communications budget?

Question options:

a)	It discourages stability when competing firms spend approximately the same percentage of their sales on communications.

b)	By using a percentage-of-sales method, communication expenditures tend to be extremely high irrespective of what a company can afford.

c)	It discourages management from thinking of the relationship among communication cost, selling price, and profit per unit.

d)	Dependence of the percentage-of-sales method on year-to-year sales fluctuations interferes with long-range planning.

Complete Assignments of Courses of Leading Universities

BM350 Marketing Management

BM350 Lessons 4 & 5 Exam SCORE 97.5 PERCENT

Question 37 (2.5 points)

Question 38 (2.5 points)

Question 39 (2.5 points)

Question 40 (2.5 points)

BM350 Online Exam-3

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