Question 1

Which of the following is a group of products that are closely related because they function in a similar manner or are sold to the same customer group who will use them in similar ways?

Accepted Answer

The answer of Which of the following is a group...

Question 2

Snazzy Sodas is known for its variety of all-natural sodas as well as its efforts toward social responsibility.The company has decided to produce a new line of energy drinks,and while it does not have the resources to promote its product widely,it can make a sizeable impact with a carefully chosen market segment.The CEO favours marketing the product primarily to young males,but the VP of operations recommends targeting female professionals. Which of the following questions is least relevant to Snazzy Sodas's evaluation of the desirability of the young male market segment?

Accepted Answer

This question is least relevant because it pertains to Snazzy Sodas' decisions about other products, not specifically about its energy drink line.

Question 3

What is a series of stages in an item's commercial life called?

Accepted Answer

The term "Product life cycle" refers to the series of stages an item goes through from introduction to the market, through growth, maturity, and eventually decline.

Question 4

Penelope's Pizza,a local chain of restaurants,has made the decision to expand on a national basis.It plans to open 50 new locations in 20 cities across the country within the next two years.In order to efficiently integrate all the tools and company resources to maximize the impact on new customers,Penelope's Pizza is considering using an integrated marketing strategy to promote a coherent national brand perception.The account manager argues that an integrated marketing strategy is the way to go,but the CEO argues that each local community is different,and the needs,values,and norms of the host cities should drive the marketing campaign. Penelope's Pizza also wants to be at the forefront of current trends and changes in the practice of advertising.The account manager wants to focus on consumer generated advertising via YouTube,Twitter,Instagram and Facebook,whereas the CEO prefers to focus on mainstream media.Which of the following,if true,would support the position of the account manager?

Accepted Answer

Young adults, under the age of 30, consume the largest amount of pizza per capita and are the greatest users of social media. This supports the account manager's position because it suggests that focusing on consumer-generated advertising via social media platforms would be an effective way to reach Penelope's Pizza's target audience.

Question 5

Penelope's Pizza,a local chain of restaurants,has made the decision to expand on a national basis.It plans to open 50 new locations in 20 cities across the country within the next two years.In order to efficiently integrate all the tools and company resources to maximize the impact on new customers,Penelope's Pizza is considering using an integrated marketing strategy to promote a coherent national brand perception.The account manager argues that an integrated marketing strategy is the way to go,but the CEO argues that each local community is different,and the needs,values,and norms of the host cities should drive the marketing campaign. After becoming a successful national brand,Penelope's Pizza has made the decision to expand overseas and enter the global market.Using a globally integrated marketing plan,Penelope's plans to enter the pizza market in Germany,Japan,and India.The CEO wants to use an adaptation plan in the new markets,and thus offer kielbasa pizza in Germany,sushi pizza in Japan,and vegetarian pizza in India.The advertising firm recommends a standardization approach as being more cost efficient and brand identifiable.Which statement,if true,supports the CEO's argument?

Accepted Answer

The CEO's argument for an adaptation plan is supported by the fact that traditionally, all three markets are slow to adapt to fast food and prefer meals with familiar ingredients. This suggests that offering localized pizza options would be more appealing to these markets.

Question 6

Snazzy Sodas is known for its variety of all-natural sodas as well as its efforts toward social responsibility.The company has decided to produce a new line of energy drinks,and while it does not have the resources to promote its product widely,it can make a sizeable impact with a carefully chosen market segment.The CEO favours marketing the product primarily to young males,but the VP of operations recommends targeting female professionals. Which of the following,if true,would weaken the VP of operation's position?

Accepted Answer

This weakens the VP of operations' position because the target market of female professionals may be more concerned about the potential health risks associated with energy drinks, which could make them less likely to purchase them.

Question 7

Penelope's Pizza,a local chain of restaurants,has made the decision to expand on a national basis.It plans to open 50 new locations in 20 cities across the country within the next two years.In order to efficiently integrate all the tools and company resources to maximize the impact on new customers,Penelope's Pizza is considering using an integrated marketing strategy to promote a coherent national brand perception.The account manager argues that an integrated marketing strategy is the way to go,but the CEO argues that each local community is different,and the needs,values,and norms of the host cities should drive the marketing campaign. Which of the following practices would support the CEO's argument?

Accepted Answer

Allowing individual stores to create their own menu options and pricing structure supports the CEO's argument by catering to the unique needs and preferences of each local community.

Question 8

What is an inexpensive good or service purchased and consumed rapidly and regularly called?

Accepted Answer

Convenience goods are inexpensive items that consumers purchase frequently and with minimal effort, such as groceries or household items.

Question 9

Snazzy Sodas is known for its variety of all-natural sodas as well as its efforts toward social responsibility.The company has decided to produce a new line of energy drinks,and while it does not have the resources to promote its product widely,it can make a sizeable impact with a carefully chosen market segment.The CEO favours marketing the product primarily to young males,but the VP of operations recommends targeting female professionals. Which of the following,if true,would support the CEO's position?

Accepted Answer

This answer directly supports the CEO's position by providing evidence that young males consume more energy drinks than any other market segment, indicating that they may be a profitable target market for the new line of energy drinks.

Question 10

Macmoo Real Estate is beginning to use data-driven processes to determine the value that it gets from different marketing activities.Macmoo's website lists available properties and allows customers to request information.Macmoo tends to advertise in local newspapers and specialized real estate periodicals.The marketing director believes that Macmoo's traditional spring advertising campaign,which runs during the month of March,is an effective use of advertising resources.When pressed for evidence,the marketing director points out that revenues in March have consistently been higher than revenues in February. Which of the following,if true about the real estate industry in general,would weaken the marketing director's argument?

Accepted Answer

C indicates that the observed increase in sales during March is a general trend in the real estate industry, not necessarily a result of Macmoo's advertising campaign.

Question 11

What are no-frills products sold under the general category name rather than a specific company name called?

Accepted Answer

Generic brands are no-frills products sold under a general category name rather than a specific company name.

Question 12

Which of the following is marketing that relies on word of mouth to spread information about a particular product or idea?

Accepted Answer

The answer of Which of the following is marketing that...

Question 13

What is the added value a name provides to a product beyond its basic functional benefits called?

Accepted Answer

Brand equity refers to the value a brand adds to a product beyond its functional benefits, often through consumer perception, recognition, and loyalty.

Question 14

Snazzy Sodas is known for its variety of all-natural sodas as well as its efforts toward social responsibility.The company has decided to produce a new line of energy drinks,and while it does not have the resources to promote its product widely,it can make a sizeable impact with a carefully chosen market segment.The CEO favours marketing the product primarily to young males,but the VP of operations recommends targeting female professionals. Which of the following,if true,would weaken the CEO's position?

Accepted Answer

The fact that young males already have a strong brand loyalty to a current market leader in energy drinks weakens the CEO's position in favor of marketing primarily to young males. It indicates that it may be difficult for Snazzy Sodas to attract these consumers away from their preferred brand.

Question 15

Macmoo Real Estate is beginning to use data-driven processes to determine the value that it gets from different marketing activities.Macmoo's website lists available properties and allows customers to request information.Macmoo tends to advertise in local newspapers and specialized real estate periodicals.The marketing director believes that Macmoo's traditional spring advertising campaign,which runs during the month of March,is an effective use of advertising resources.When pressed for evidence,the marketing director points out that revenues in March have consistently been higher than revenues in February. During 2018,Macmoo completed fewer real estate transactions than it did during any similar time period during the last five years.Still,the marketing director claims that its marketing efforts led to very positive financial results for Macmoo.Which of the following,if true,would resolve this seeming discrepancy?

Accepted Answer

In 2018, marketing efforts focused on sales of very expensive properties, which could lead to higher revenues despite fewer transactions.

Question 16

The part of a product's packaging that identifies the product's name,its contents and sometimes its benefits is the

Accepted Answer

The label is the part of a product's packaging that identifies the product's name, its contents, and sometimes its benefits.

Question 17

Snazzy Sodas is known for its variety of all-natural sodas as well as its efforts toward social responsibility.The company has decided to produce a new line of energy drinks,and while it does not have the resources to promote its product widely,it can make a sizeable impact with a carefully chosen market segment.The CEO favours marketing the product primarily to young males,but the VP of operations recommends targeting female professionals. Which of the following,if true,would most strongly support the VP of operation's position?

Accepted Answer

The recommendation to target female professionals is most strongly supported if they already have a positive opinion of Snazzy's current products. This suggests that they are more likely to try the new energy drink line and become loyal customers. The other answer choices do not provide as strong of a justification for targeting female professionals over young males.

Question 18

What is a moderately expensive,infrequently purchased good or service called?

Accepted Answer

A shopping good is a moderately expensive, infrequently purchased good or service that consumers spend time comparing quality, price, and style before making a purchase decision.

Question 19

Which of the following is an organizational market consisting of such non-governmental buyers of goods and services as hospitals,religious organizations,museums,and charitable organizations?

Accepted Answer

The institutional market consists of non-governmental organizations such as hospitals, religious organizations, museums, and charitable organizations that purchase goods and services.

Question 20

A process of using symbols to communicate the qualities of a product made by a particular producer is

Accepted Answer

Branding involves using symbols, names, or designs to identify and differentiate a product from those of other producers.

Quiz 12: Understanding Marketing Principles and Developing Products