BUSI570 ADE Week 1 Assignment Review of Articles

Please read the articles Greed Cycle , Dumbest Idea in the World , and Maximizing Shareholder Value: The Goal That Changed Corporate America . After you have read them, write a 4-6 page paper addressing the following questions.

Greed Cycle Questions:

1. What has been the changing nature of the goal of the corporation?
2. What is the relationship between agency problems and the goal of shareholder wealth maximization?
3. What are successful and unsuccessful ways in which agency problems between managers and owners have addressed?
4. What is the relationship between agency conflicts and options given to managers?
5. What is your opinion of the best goal for corporations?

Dumbest Idea. . . Questions:

1. What is the Dumbest Idea?   Why?
2. How has the focus on SH wealth changed the way success is measured?
3. How has the time perspective been altered by the focus on SH wealth?
4. What alternative goals are suggested?

Maximizing Shareholder Value:  The Goal that . . . Questions:

1. What changes are described for IBM in this article?  Why?
2. Describe the philosophical changes that have occurred as a result of this change in goal.  How has this impacted behavior?
3. What about Social Responsibility?

BUSI544 Week 8 Final Exam SCORE 100 PERCENT

Question 1 (2 points) ________ brand equity is the differential effect that brand knowledge has on consumer response to the marketing of that brand.
Question 1 options:
1)     Mission-driven
2)    Customer-based
3)     Product-driven
4)     Service-driven
5)     Function-based

Question 2 (2 points)
A consumer who expresses rational and emotional attachments to a brand to the exclusion of most other brands has reached the ________ level in the BrandDynamics Pyramid.
Question 2 options:
1)    advantage
2)    relevance
3)    presence
4)    performance
5)    bonding

Question 3 (2 points)
With respect to the "six brand building blocks," brand ________ 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 3 options:
1)    imagery

2)    judgment

3)    resonance
4)    salience
5)    performance

Question 4 (2 points)Adam wants to buy a washing machine and is looking for something that is not too expensive. When he goes to make the purchase, he finds there are two options that meet his requirements. One is a Maytag product, while the other is a newly imported South Korean brand. Adam is not very familiar with the latter and does not hesitate in choosing Maytag. This example implies that ________.
Question 4 options:
1)    the imported brand will not survive the competition from Maytag
2)    Maytag has a positive customer brand equity
3)    the South Korean company has a low advertising budget
4)    the imported brand is unreliable
5)    the Maytag washing machine has better features than the imported brand

Question 5 (2 points)If a consumer who is trying to decide between alternatives believes that a particular brand delivers acceptable product performance and can be shortlisted, she is in the ________ level of the BrandDynamics Pyramid.
Question 5 options:
1)    presence
2)    relevance
3)    performance
4)    advantage
5)    bonding

Question 6 (2 points)
Brand ________ are devices that can be trademarked and serve to identify and differentiate the brand.
Question 6 options:
1)    elements
2)    value propositions
3)    perceptions
4)    images

5)    extensions

Question 7 (2 points)
When Starbucks extended its brand into coffee drinks and ice creams to reach customers who did not use its brand, it was using a(n) ________ strategy.
Question 7 options:
1)    geographical-expansion
2)    new-market segment
3)    market-penetration
4)    larger package size
5)    increased frequency

Question 8 (2 points)
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.
Question 8 options:
1)    position
2)    flank
3)    preemptive
4)    counteroffensive
5)    mobile

Question 9 (2 points)
When Procter & Gamble used Gain and Cheer laundry detergents as outposts to protect a weak front or support a possible counterattack, they were using a ________ defense.
Question 9 options:
1)    flank
2)    position
3)    preemptive
4)    counteroffensive
5)    mobile

Question 10 (2 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 10 options:
1)    marketing king
2)    market nicher
3)    segment king
4)    guerilla marketer
5)    strategic clone

Question 11 (2 points)
________ defense is an aggressive maneuver where the firm attacks first, perhaps with guerrilla action across the market and keeps everyone off balance.
Question 11 options:
1)    Position
2)    Flank
3)    Contraction
4)    Preemptive
5)    Lateral

Question 12 (2 points)
________ are formal statements of expected product performance by the manufacturer.
Question 12 options:
1)    Insurance
2)    Warranties
3)    Bonds
4)    Invoices
5)    Balance sheets

Question 13 (2 points)
Happy Home Products produces detergents, toothpaste, bar soap, disposable diapers, and paper products. This company has a product ________ of five lines.
Question 13 options:
1)    type
2)    length
3)    class
4)    mix
5)    width

Question 14 (2 points)
Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and ________.
Question 14 options:
1)    natural products
2)    component materials
3)    operating supplies
4)    equipment
5)    processed materials

Question 15 (2 points)
The way the user performs the tasks of getting and using products and related services is the user's total ________.
Question 15 options:
1)    consumption system
2)    consumable system
3)    consistent use system
4)    augmented system
5)    potential system

Question 16 (2 points)
Because ________ are purchased frequently, marketers should make them available in many locations, charge only a small markup, and advertise heavily to induce trial and build preference.
Question 16 options:
1)    nondurable goods
2)    durable goods
3)    services
4)    unsought goods
5)    specialty goods

Question 17 (2 points)
In increasingly fast-paced markets, price and technology are not enough. ________ is the factor that will often give a company its competitive edge and is defined as the totality of features that affect how a product looks, feels, and functions in terms of customer requirements.
Question 17 options:
1)    Conformance
2)    Design
3)    Performance
4)    Reliability
5)    Style

Question 18 (2 points)
According to the dynamic process model, two different types of expectations have opposite effects on perceptions of service quality. One of these is that ________ overall service quality.
Question 18 options:
1)    increasing customer expectations of what the firm will deliver improve the perceptions of
2)    increasing customer expectations of what the firm will deliver decrease the perceptions of
3)    decreasing customer expectations of what the firm should deliver decrease the perceptions of
4)    decreasing customer expectations of what the firm will deliver improve the perceptions of
5)    increasing customer expectations of what the firm should deliver improve the perceptions of

Question 19 (2 points)
Which of the following is true for services?
Question 19 options:
1)    All services are people-based, while goods are equipment-based.
2)    Service providers can be both for-profit or nonprofit.
3)    All service companies follow the same process to deliver their services.
4)    The client's presence is a hindrance during the service delivery process.
5)    Service providers develop similar marketing programs for personal services and business services.

Question 20 (2 points)
Angela switched to a new hair stylist after getting a bad haircut from her previous stylist. This is an example of which of the following factors leading to customer switching behavior?
Question 20 options:
1)    service encounter failure
2)    core service failure
3)    response to service failure
4)    involuntary switching
5)    Competition

Question 21 (2 points)
When sellers agree to provide free maintenance and repair services for a specified period of time at a specified contract price, they are offering ________.
Question 21 options:
1)    a complementary service
2)    payment equity
3)    a service blueprint
4)    differential pricing
5)    an extended warranty

Question 22 (2 points)
Often, a service problem arises from a customer's lack of understanding or ineptitude. Which of the following can help to minimize customer failures?
Question 22 options:
1)    giving customers exclusive primary service packages
2)    redesigning processes to simplify service encounters
3)    using differential pricing and shared services
4)    minimizing service intangibility
5)    working with more customers at the same time

Question 23 (2 points)
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.
Question 23 options:
1)    conscientious
2)    assurance
3)    empathy
4)    reliability
5)    responsiveness

Question 24 (2 points)
Which of the following is usually referred to as a full-blown test market?
Question 24 options:
1)    an internal focus group
2)    a discussion group
3)    a country
4)    a city or a few cities
5)    a laboratory

Question 25 (2 points)
Modern firms use the ________ tool to design products on a computer and then produce rough models to show potential consumers for their reactions.
Question 25 options:
1)    morphological analysis
2)    rapid prototyping
3)    concept testing
4)    perceptual mapping
5)    conjoint analysis

Question 26 (2 points)
It has been observed that most new products have shorter product life cycles. What is the reason for this?
Question 26 options:
1)    Most new products do not use technology.
2)    Most new products are not backed by a marketable idea.
3)    New products do not get adequate management support.
4)    Social and governmental constraints lead to this failure.
5)    Rivals quickly copy products that are successful.

Question 27 (2 points)
A(n) ________ is an elaborated version of a product idea expressed in consumer terms.
Question 27 options:
1)    test brand
2)    alpha product
3)    beta product
4)    business schedule
5)    product concept

Question 28 (2 points)
A(n) ________ is a possible product the company might offer to the market.
Question 28 options:
1)    test brand
2)    alpha product
3)    beta version product
4)    product idea
5)    product concept

Question 29 (2 points)
Which of the following is the first step in setting a pricing policy?
Question 29 options:
1)    selecting a pricing method
2)    selecting the pricing objective
3)    determining demand
4)    estimating cost
5)    analyzing competitors' costs, prices, and offers

Question 30 (2 points)
A company has developed the prototype of a mobile phone that it plans to launch in the next few months. The phone comes equipped with the most advanced technological features. As part of its test marketing efforts, the company allows customers to examine and use the prototype and also gathers feedback regarding product features and price. The results of this test marketing effort show that customers are willing to pay at least $500, considering the phone's various features. As such, the company has discovered customers' ________.
Question 30 options:
1)    last paid price
2)    expected future price
3)    lower-bound price
4)    upper-bound price
5)    typical price

Question 31 (2 points)
When a company introduces a product at a high price and then gradually drops the price over time, it is pursuing a ________ strategy.
Question 31 options:
1)    market-penetration pricing
2)    market-skimming pricing
3)    value-pricing
4)    switching cost
5)    loss-leader pricing

Question 32 (2 points)
The key to perceived-value pricing is to ________.
Question 32 options:
1)    reengineer the company's operations
2)    deliver more unique value than competitors
3)    adopt subtle marketing tactics compared to competitors
4)    deliver more value but at a lower cost
5)    invest heavily in advertising in order to convey superior value

Question 33 (2 points)
When museums charge a lower admission fee to students and senior citizens, this form of price discrimination is known as ________ pricing.
Question 33 options:
1)    location
2)    channel
3)    customer-segment
4)    special-customer
5)    loss-leader

Question 34 (2 points)
If demand hardly changes with a small change in price, the demand is said to be ________.
Question 34 options:
1)    strained
2)    marginal
3)    inelastic
4)    flexible
5)    unit elastic

Question 35 (2 points)
If a producer wants to achieve rapid market penetration through a low-price policy, while a dealer wants to work with high margins to pursue short-run profitability, the source of the channel conflict is ________.
Question 35 options:
1)    unclear roles and rights
2)    goal incompatibility
3)    differences in perception
4)    intermediaries' dependence on the manufacturer
5)    strategic justification

Question 36 (2 points)
Spike Inc. is a sportswear manufacturer that recently launched its new line of customizable running shoes. The shoes come with a digital component that allows them to adapt to the runner's biomechanics. To promote this new product, Spike launches an advertising campaign and entices a famous athlete to endorse the product. This is an example of a ________.
Question 36 options:
1)    trade promotion
2)    reverse flow
3)    push strategy
4)    pull strategy
5)    backward flow

Question 37 (2 points)
Door-to-door sales, home parties, mail order, telemarketing, TV selling, Internet selling, and manufacturer-owned stores are examples of ________.
Question 37 options:
1)    zero-level channels
2)    jobbers
3)    wholesalers
4)    manufacturer's representatives
5)    consumers

Question 38 (2 points)
Which of the following is a major disadvantage of using the Internet as a marketing channel?
Question 38 options:
1)    It is less effective for complex products.
2)    It lacks convenience and practicality.
3)    It cannot be used to reach a wide audience.
4)    It is considered expensive.
5)    It causes the company to lose direct contact with customers.

Question 39 (2 points)
An Internet service provider (ISP) is a(n) ________ company.
Question 39 options:
1)    pure-click
2)    brick and click
3)    brick-and-mortar
4)    m-commerce
5)    one-level

Question 40 (2 points)
In a ________ marketing system, two or more unrelated companies put together resources or programs to exploit an emerging marketing opportunity.
Question 40 options:
1)    reverse flow
2)    vertical
3)    horizontal
4)    lateral
5)    forward flow

Question 41 (2 points)
Which of the following is a characteristic of the affordable method of establishing a marketing communications budget?
Question 41 options:
1)    fixed annual budget
2)    suitable for long-range planning
3)    priority given to role of promotion as an investment
4)    calculated to reflect what the company can spare for marketing communications
5)    based on the immediate impact of promotion on sales volume

Question 42 (2 points)
One of the possible objectives of marketing communications is helping consumers evaluate a brand's perceived ability to meet a currently relevant need. Which of the following relevant brand needs is most likely emphasized by an advertisement for a luxury car?
Question 42 options:
1)    problem removal
2)    sensory gratification
3)    normal depletion
4)    intellectual stimulation
5)    problem avoidance

Question 43 (2 points)
Gabrielle is the chief marketing officer of Boyd Pharmaceuticals. She is meeting with Trent, the chief financial officer to decide on the company's marketing communications budget. After extensive discussions, they decide that the size of the budget will be calculated as a fraction of the overall turnover. What method did Gabrielle and Trent use to arrive at the marketing communications budget?
Question 43 options:
1)    affordable method
2)    objective-and-task method
3)    competitive-parity method
4)    activity-based method
5)    percentage-of-sales method

Question 44 (2 points)
________ refers to a planning process designed to assure that all brand contacts received by a customer or prospect for a product, service, or organization are relevant to that person and consistent over time.
Question 44 options:
1)    Brand engagement
2)    Integrated marketing communications
3)    Market research
4)    Customerization
5)    Marketing research

Question 45 (2 points)
Stacey wants to use a highly relevant, engaging, and implicit communications mix mode to use a "soft sell" approach for her new makeup line. The communications mix mode that has these characteristics is ________.
Question 45 options:
1)    sales promotions
2)    events and experiences
3)    advertising
4)    direct and interactive marketing
5)    personal selling

Question 46 (2 points)
A company selling in a national market often organizes its sales force along ________.
Question 46 options:
1)    functional groups
2)    geographic lines
3)    product teams
4)    brand groups
5)    product categories

Question 47 (2 points)
Top and middle management are primarily responsible for ________ control.
Question 47 options:
1)    annual-plan
2)    efficiency
3)    profitability
4)    technological
5)    innovation
Question 48 (2 points)
Rising customer expectations, evolving employee goals and ambitions, and tighter government legislation and pressure are driving companies to ________.
Question 48 options:
1)    operate leaner manufacturing facilities
2)    manage shorter supply chains
3)    operate flatter organizations
4)    practice a higher level of corporate social responsibility
5)    vertically integrate

Question 49 (2 points)
A product-management organization ________.
Question 49 options:
1)    often proves to be cost-effective
2)    simplifies the process of developing a national strategy
3)    focuses on building market share rather than customer relationships
4)    reduces an organization's staffing requirements
5)    allows product managers to achieve functional expertise

Question 50 (2 points)
Cabot (Scenario)Cabot, a large car manufacturer, has four popular car brands in different segments. It has a manufacturing facility near Detroit, MI, where parts common to all the four brands are manufactured. Other specific parts like the brake system, windshield, bonnet, locks, and so on are manufactured in separate plants. Each make has its own product manager and support staff. All product managers report to the CEO of the company.
Suppose the manufacturer pays a commission on every car sold. Then, the salesperson's commission is classified as a(n) ________.
Question 50 options:
1)    cost of labor
2)    traceable common cost
3)    nontraceable common cost
4)    advertising cost
5)    direct cost

Question 51 (5 points)

What is a guerilla attack? Provide an example.

Question 52 (5 points)

Explain the concept of line stretching and the three uses for it. Use examples to illustrate your points

Question 53 (5 points)

The Norticon Group provides and manages computers and network systems for businesses and communities. Norticon sells its products through various means. It uses its sales force to sell to large customers and telemarketing to sell to smaller customers. The company also sells its products via the Internet. Explain the marketing approach being used by the company. Why would a company choose this approach?

Question 54 (5 points)

Karl Lipton is the marketing communications coordinator for a major electronics manufacturer. He is assigned with charting out a communications strategy for a new range of mobile phones developed by his company. How will Karl's communications strategy look over the course of the mobile phones' life cycle?

Question 55 (5 points)

What skills and competencies will marketers need to succeed in the future?

BUSI544 Week 8 Discussion 15 Communication Audit

BRAND: NIKE

Choose a major brand and visit their website. In addition, research other forms of the brand's promotion and prepare an informal "Communication Audit." Locate a minimum of three different promotions or communications vehicles. Who is the target market based on the communication? What message is being communicated? Are there messages related to ethics and social responsibility? Are the promotions consistent in their message? Which of the communication forms are, in your opinion, the most effective and why?

 

BUSI544 Week 7 Discussion 14 Does it Matter Where You Sell

Let's have a debate! Refer to Page 522 of your text. Marketing Debate: Does It Matter Where You Sell? In your position, include an example to support your position. Also include which position applies to your own channel strategy in your marketing plan. 

Take a position:

Channel images do not much affect the brand images of the products they sell.

Versus

Channel images must be consistent with the brand image.

 

BUSI544 Week 7 Discussion 13 Pricing Objectives

Think about the various pricing objectives described in chapter 16. Determining your pricing objective is important to product positioning and in setting an appropriate price.

Give an example of a company that is using survival, profit maximization, market share maximization, maximum market skimming, and product quality leadership. You may use different companies for your examples. In addition to the company and/or product name, briefly describe your reasoning as to why the product's price illustrates the firm's pricing objective.  Use the theories found in the textbook to back up your reasoning. Also, include what pricing objective you will use in your marketing plan.

BUSI544 Week 6 Written Assignment 2

Instructions

Read the case beginning on page 424 on Ritz Carlton. Research the company on the internet and indicate how Ritz Carlton has been able to excel in customer service. Provide specific examples. Then, discuss 3 reasons for Ritz Carlton's success, 3 areas of vulnerability, and provide a minimum of 3 recommendations to enhance and maintain the high standards of excellence this hotel provides. You must include a minimum of 3 articles not used in another assignment that support your contentions. You may also use material from the case and related material from the text as appropriate.

BUSI544 Week 4 Midterm Exam SCORE 100 PERCENT

Question 1 (2 points)In the case of ________ demand, consumers dislike the product and may even pay a price to avoid it.
Question 1 options:
1)     nonexistent
2)     overfull
3)     irregular   
4)    negative   
5)    declining

Question 2 (2 points)
Managers of ________ businesses concentrate on achieving high manufacturing efficiency, low costs, and mass distribution.
Question 2 options:   
1)     selling-oriented   
2)    product-oriented   
3)    production-oriented   
4)    marketing-oriented   
5)    consumer-oriented

Question 3 (2 points)
________ combined with affordability determines the product's value proposition.
Question 3 options:   
1)    Acceptability   
2)    Affluence   
3)    Affability   
4)    Accessibility   
5)    Awareness

Question 4 (2 points)
When companies measure the number of people who are willing and able to buy their products, they are measuring ________.
Question 4 options:   
1)    demand   
2)    price elasticity   
3)    real needs   
4)    standard of living   
5)    disposable income

Question 5 (2 points)
The marketing plan, the central instrument for directing and coordinating the marketing effort of a company, operates at the ________ levels.
Question 5 options:   
1)    functional and operational   
2)    strategic and tactical   
3)    corporate and operational   
4)    customer and expenditure   
5)    corporate and division

Question 6 (2 points)
The task of any business is to ________.
Question 6 options:   
1)    create customer needs   
2)    differentiate in terms of cost of production   
3)    deliver customer value at a profit   
4)    reduce competition   
5)    communicate similar value as provided by competitors

Question 7 (2 points)
The most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficient competitive analysis, and a ________ focus.
Question 7 options:   
1)    long-term   
2)    profit   
3)    short-run   
4)    product   
5)    price

Question 8 (2 points)
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.
Question 8 options:   
1)    market-sensing   
2)    new-offering realization   
3)    customer acquisition   
4)    customer relationship management   
5)    fulfillment management

Question 9 (2 points)
________ measures the impact of a set of causal factors (such as income, marketing expenditures, and price) on the sales level.
Question 9 options:   
1)    Time-series analysis   
2)    Statistical demand analysis   
3)    Econometric analysis   
4)    Cost effectiveness analysis   
5)    Exponential smoothing

Question 10 (2 points)
Suppose Concrete Express, a cement manufacturing firm, finds that its sales have increased by 3 percent this year, while industry sales have increased by 5 percent. This implies that ________.
Question 10 options:   
1)    Concrete Express has acquired additional market share in relation to the cement industry   
2)    Concrete Express is losing its relative standing in the cement industry   
3)    other players in the industry are losing market share   
4)    the absolute market share of Concrete Express has declined   
5)    Concrete Express's position in relation to the industry has remain unchanged

Question 11 (2 points)
With an increase in marketing expenditure, market demand ________.
Question 11 options:   
1)    continues to rise at an increasing rate   
2)    initially increases and then declines   
3)    increases first at an increasing rate, then at a decreasing rate   
4)    decreases first and then spikes   
5)    continues to increase at a decreasing rate

Question 12 (2 points)
Mandatory recycling laws have boosted the recycling industry and launched dozens of new companies making new products from recycled materials. Which of the following most closely resembles this situation?
Question 12 options:   
1)    Government makes reforestation mandatory for lumbering firms leading to a rise in timber production.   
2)    Government restricts industries from purchasing farmland thereby increasing agricultural produce.   
3)    Government subsidizes export of beef to promote production of beef cattle.   
4)    Government pollution control norms increase the production of pollution control equipment.   
5)    Government restricts unfair trade practices to promote international trade.

Question 13 (2 points)
________ for a product is the total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program.
Question 13 options:   
1)    Company demand   
2)    Area market potential   
3)    Market demand   
4)    Company sales potential   
5)    Total market potential

Question 14 (2 points)
Which of the following is considered to be the last step in the marketing research process?
Question 14 options:   
1)    presenting findings   
2)    analyzing information   
3)    controlling the environment   
4)    arriving at a decision   
5)    drafting the report

Question 15 (2 points)
The ________ phase of marketing research is generally the most expensive and the most prone to error.
 Question 15 options:   
1)    contact   
2)    research planning   
3)    questionnaire design   
4)    interview design   
5)    data collection

Question 16 (2 points)
________ research is designed to capture cause-and-effect relationships by eliminating competing explanations of the observed findings.
Question 16 options:   
1)    Experimental   
2)    Behavioral   
3)    Observational   
4)    Focus group   
5)    Descriptive

Question 17 (2 points)
A ________ scorecard records how well the company is doing year after year based on measures such as the average perception of the company's product quality relative to its chief competitor.
Question 17 options:   
1)    customer-performance   
2)    stakeholder-performance   
3)    marketing balanced   
4)    vendor   
5)    generic

Question 18 (2 points)
Which of the seven main metaphors in the ZMET reflects a sense of mastery, vulnerability, and well-being?
Question 18 options:   
1)    Balance   
2)    Transformation   
3)    Journey   
4)    Container   
5)    Control

Question 19 (2 points)
LifeTime Insurance screens its customers and tries to get unprofitable customers to buy services from competitors. This is an example of ________.
Question 19 options:   
1)    trying to increase the retention rate for low-profit customers   
2)    terminating the relationship with low-profit customers   
3)    enhancing the growth potential of each customer through up-selling   
4)    increasing the longevity of the customer relationship   
5)    reducing the rate of customer defection

Question 20 (2 points)
A profitable customer yields a ________.
Question 20 options:   
1)    cost stream that exceeds by an acceptable amount his revenue stream   
2)    revenue stream that exceeds the company's cost stream   
3)    cost stream that exceeds the company's revenue stream   
4)    revenue stream that exceeds by an acceptable amount his cost stream

Question 21 (2 points)
Cable TV operators and cellular carriers suffer from high levels of ________, or customer defections.
Question 21 options:   
1)    customer retention   
2)    customer churn   
3)    detraction   
4)    share-of-wallet   
5)    customer complaints

Question 22 (2 points)
Which of the following is NOT a touch point for a hotel?
Question 22 options:   
1)    reservations   
2)    frequent-stay programs   
3)    room service   
4)    laundry service   
5)    All of these are touch points.

Question 23 (2 points)
The 80-20 rule reflects the idea that ________.
Question 23 options:   
1)    20 percent of the company's profits are generated by the top 80 percent of customers   
2)    the top 20 percent of customers are highly satisfied and 80 percent of customers will recommend the company to a friend   
3)    20 percent of customers are unprofitable, and 80 percent make up a company's profits   
4)    the top 20 percent of customers often generate 80 percent of the company's profits   
5)    any new product will be accepted by 20 percent of the customers immediately, but 80 percent of the customers will be up for grabs throughout the product's life cycle

Question 24 (2 points)
When a marketer tries to alter a consumer's beliefs about a company's brand to get the consumer to rethink a purchase decision, the marketer is using ________.
Question 24 options:   
1)    psychological repositioning   
2)    competitive depositioning   
3)    positioning   
4)    repositioning   
5)    biased positioning

Question 25 (2 points)
A(n) ________ puts people into a frame of mind, such as liking or disliking an object, moving toward or away from it.
Question 25 options:   
1)    attitude   
2)    belief   
3)    feeling   
4)    position   
5)    stance

Question 26 (2 points)
Of key interest to marketers are the major informational sources to which the consumer will turn and the relative importance of each. Which of the following can be considered an experiential information source?
Question 26 options:   
1)    consumer-rating organizations   
2)    mass media   
3)    acquaintances   
4)    Web sites   
5)    personal handling and examination

Question 27 (2 points)
Gordon Jones is considering purchasing a computer from Best Buy. He has created a scale for rating eight different computers on three different characteristics. He plans to make a short list of only those computers that score at least a 7 on his scale on all three characteristics. Which of the following choice heuristics has he chosen?
Question 27 options:   
1)    elimination-by-aspects heuristic   
2)    lexicographic heuristic   
3)    conjunctive heuristic   
4)    anchoring and adjustment heuristic   
5)    representativeness heuristic

Question 28 (2 points)
Which of the following is true about industrial buying decisions?
Question 28 options:   
1)    They are purely rational.   
2)    They are purely emotional.   
3)    They service both the organization's and the individual's needs.   
4)    Top executives are never insecure about buying products.   
5)    Individual needs legitimate the buying process and its outcomes.

Question 29 (2 points)
Which of the following is a form of cheating or undersupply relative to an implicit or explicit contract which usually takes place when buyers cannot easily monitor supplier performance?
Question 29 options:   
1)    institutional sale   
2)    business buying   
3)    opportunism   
4)    vertical integration   
5)    contractual transactionism

Question 30 (2 points)
Sometimes a rise of only 10 percent in consumer demand can cause as much as a 200 percent rise in business demand for products for the next period. This is an example of ________.
Question 30 options:   
1)    inelastic demand   
2)    direct purchasing   
3)    fluctuating demand   
4)    derived demand   
5)    a straight rebuy

Question 31 (2 points)
If you performed the role of the ________ in a buying center, you would be the person that has the power to prevent sellers or information from reaching other members of the buying center.
Question 31 options:   
1)    initiator   
2)    influencer   
3)    decider   
4)    gatekeeper   
5)    approver

Question 32 (2 points)
According to Patrick J. Robinson, the eight stages in the business buying-decision process are known as ________.
Question 32 options:   
1)    buyphases   
2)    buybacks   
3)    buyouts   
4)    buyables   
5)    buyoffs

Question 33 (2 points)
Which of the following statements about Gen Yers is true?Question 33 options:   
1)    They are selective, confident, and impatient.   
2)    They are more likely to associate retirement with "the beginning of the end."   
3)    They are more pragmatic and individualistic.   
4)    They were born between 1964 and 1978.   
5)    They were the first generation to find surpassing their parents' standard of living a serious challenge.

Question 34 (2 points)
All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segment's needs, a strong market presence, operating economies through specializing in production, distribution, and promotion.
Question 34 options:   
1)    single-segment concentration   
2)    selective specialization   
3)    product specialization   
4)    market specialization   
5)    full market coverage

Question 35 (2 points)
If a marketing manager employs such marketing techniques as online buzz, student ambassadors, cool events, and street teams to reach target markets, the manager is most likely appealing to the ________ market.
Question 35 options:   
1)    Generation Z   
2)    Generation X   
3)    Generation Y   
4)    Silent generation   
5)    Baby boomers

Question 36 (2 points)
Which of the following statements accurately describes what demographers are calling the "boom-boom effect"?
Question 36 options:   
1)    Consumers are demanding more "bang for their buck."   
2)    Baby boomers still rule the marketplace.   
3)    Generation Y and their concern about environmental issues will dominate the market in the future.   
4)    Products that appeal to 21-year-olds also appeal to baby boomers.   
5)    Companies must gain success quickly.

Question 37 (2 points)
The ________ defines which other brands a brand competes with and therefore which brands should be the focus of competitive analysis.
 Question 37 options:   
1)    consumer profitability analysis   
2)    competitor indexing   
3)    service blueprint   
4)    competitive frame of reference   
5)    cluster analysis

Question 38 (2 points)
Which of the following statements about brand mantras is true?
Question 38 options:   
1)    They guide only major decisions, they have no influence on mundane decisions.   
2)    Their influence does not extend beyond tactical concerns.   
3)    They must economically communicate what the brand is and avoid communicating what it is not.   
4)    They can provide guidance about what ad campaigns to run and where and how to sell the brand.   
5)    They leverage the values of the brand to take the brand into new markets/sectors.

Question 39 (2 points)
Nivea became the leader in the skin cream class on the "gentle," "protective," and "caring" platform. The company further moved into classes such as deodorants, shampoos, and cosmetics. Attributes like gentle and caring were of no value unless consumers believed that its deodorant was strong enough, its shampoo would cleanse, and its cosmetics would be colorful enough. This is an example of ________.
 Question 39 options:   
1)    competitive points-of-parity   
2)    competitive points-of-difference   
3)    category points-of-parity   
4)    category points-of-difference   
5)    competitive points-of-presence

Question 40 (2 points)
The three criteria that determine whether a brand association can truly function as a point-of-difference include desirability, ________, and differentiability.
 Question 40 options:   
1)    discrimination   
2)    customerization   
3)    implementation   
4)    deliverability   
5)    demand   
5)    revenue stream that equals the company's cost stream