When Coca-Cola promoted Coke as a morning beverage for those consumers who don’t drink coffee, it used a __________ strategy.
- product modification
- brand modification
- market-product extension
- market modification
The element of the marketing mix demonstrated when an art gallery suggests a $2 donation at the door is
If a bank is known for delivering customer value through its focus on taking great care of customers, it is most likely focusing on providing its customers with the best
- customer service.
Which type of distribution density does Piaget use when the maker of fine jewelry and watches distributes its products through a single retailer in select cities in the United States?
- intensive distribution
- extensive distribution
- selective distribution
- exclusive distribution
- private label distribution
The Lemon Tree is a high-fashion boutique selling top-of-the-line women’s clothing and accessories. The keys to its success include knowing customers’ changing tastes and providing something different than other retailers. In addition, because of the high value of the merchandise, The Lemon Tree’s management is investing in the use of computerized inventory controls and sales order processing. The least important environmental force to The Lemon Tree at this time is likely to be
If you know the contents and price of a McDonald’s Extra Value Meal, it may serve as __________ to you when you visit other fast-food restaurants and consider the purchase of a meal option there.
- a marginal analysis
- a profit equation
- a reference value
- a break-even analysis
- price elasticity of demand
In the late 1950s and 1960s, television Westerns were extremely popular and included Gunsmoke, Bonanza, Wagon Train, and The Big Valley. When ratings declined as viewers’ tastes changed, production companies used a(n) __________ strategy and stopped producing all television Westerns when the networks stopped showing them.
Lands’ End will custom-fit a Marinac jacket and make it with additional features such as thumb loops, underarm ventilation slits, and a key clip when you order from LandsEnd.com. This is an example of
- family branding.
- mass customization.
- “Tiffany/Walmart” marketing.
- market melding.
- specialty customization.
Which element of the marketing mix is affected when the Mandarin Oriental hotel in New York increases its weekend rates to $795 per night?
An important social trend is the continued concern for health and well-being in the United States. This is most likely evidenced by
- the increased sales of Cigar Aficionado magazine.
- the introduction of Lay’s Kettle Cooked potato chips, which have 40 percent less fat than regular potato chips.
- the opening of more Starbucks coffee boutiques in supermarkets.
- the upsizing of menu items at fast-food restaurants.
- the introduction of tablet devices such as the iPad.
Philips Sonicare recently introduced the DiamondClean rechargeable toothbrush. A key innovation is its Quadpacer interval timer that goes off after 30 seconds to prompt the user to move on to the next quadrant of the mouth, resulting in better cleaning and improved gum health. This is an example of which type of innovation?
- disruptive innovation
- continuous innovation
- discontinuous innovation
- dynamically continuous innovation
- evolutionary innovation
Suppose you are the owner of a picture frame store and you wish to calculate how many pictures you must sell to cover your fixed and variable costs at a given price. Demand for pictures is strong, so the average price customers are willing to pay for each picture frame is $120. Also, suppose your fixed costs (FC) total $32,000 (real estate taxes, interest on a bank loan, etc.) and unit variable cost (UVC) for a picture frame is $40 (labor, glass, frame, and matting). What is the quantity of picture frames you will need to sell to break even?
- 200 picture frames
- 400 picture frames
- 800 picture frames
- 1,600 picture frames
- 2,000 picture frames
Which of the following products or services must typically be provided by traditional and not by Internet marketing channels?
- car rental reservations
- orthopedic surgery
A testimonial ad for a First Alert carbon monoxide (CO) detector features parents who are discussing the dangers of carbon monoxide poisoning and how purchasing and using the advertised product can avert disaster. Such advertisements use
- compassionate appeals.
- guilt appeals.
- family appeals.
- fear appeals.
- coercive appeals.
Kraft Foods distributes Starbucks coffee in U.S. supermarkets and internationally. These firms are most likely using __________ strategy.
- multichannel distribution
- a direct marketing channel
- a cooperative distribution channel
- a strategic channel alliance
- a dual distribution agreement
Red Carpet Baby!, a children’s accessory and toy store, is considering expanding the size of the store. The manager queries its marketing database to understand how a change in square footage might impact sales. She is performing a(n)
- marketing action analysis.
- environmental scan.
- situational analysis.
- sensitivity analysis.
- problem search.
The United States Army was both praised and criticized for its use of a popular video game, America’s Army, which was designed to reach potential recruits. The game’s creator, Colonel Casey Wardynski, wanted to provide a sense of the training and teamwork one could find in the Army’s military environment. The game was designed for “boys 14 years or older,” which represent the Army’s
- mass market.
- actual recruits.
- restricted market.
- target market.
- untapped market.
Recognized for excellence by Advertising Age, Alma creates advertising to reach diverse segments by searching “for that intangible fiber that touches the lives of consumers creating relevant and unique business-building communication ideas.” Alma has created Hispanic campaigns for McDonald’s, Sprint, and Clorox as a part of their programs incorporating
- psychographic differences.
- population inputs.
- multicultural marketing.
- a value consciousness.
Leah had an excellent year as a salesperson in 2017, earning $98,000. She paid $38,000 for necessities such as mortgage, food, and clothing. Her state and federal income taxes totaled $24,000. What was her disposable income?
- There is not enough data provided to calculate her discretionary income.
Wonk is a unique furniture company that design, builds, and retails in Brooklyn, NY. You can customize your design with creative input, including personalizing items with wood and lacquer options or environmentally conscious materials and finishes, though the options are not unlimited. Wonk relies on
- order customization.
- a one product, one market segment strategy.
- build-to-order manufacturing.
- specialty customization.
- mass customization.
Thirty years ago, the Mississippi Gulf Coast was a nice place to vacation with a white sandy beach, golfing opportunities, resort hotels, and good seafood restaurants. With the addition of casinos, the Gulf Coast improved its odds of being a tourist destination for more travelers. This is an example of a __________ strategy.
- market-product grid
- product modification
- market modification
- product repositioning
Many companies have cut travel budgets so that fewer businesspeople are authorized to fly first class. Despite the shrinking pool of business-class travelers, British Airways has grown market share for its trans-Atlantic business class by offering greater comfort. Promotions to frequent fliers stress that passengers can sleep in fully reclining seats and arrive refreshed to carry out a full day’s schedule. The segmentation strategy of British Airways is an example of
- life stage segmentation.
- geographic segmentation.
- social class segmentation.
- behavioral segmentation.
- psychographic segmentation.
Bridgestone uses __________ institutional ads in its “One Team. One Planet” campaign to inform people about its rubber tree farms, tire recycling, and environmentally friendly factories.
When Apple introduced the Apple II personal computer in 1977, industry analysts predicted that very few would be sold. However, a short time after the product was made available, consumers who were young, highly educated, adventuresome, and well-informed began buying them. While those buyers were relatively few in number, marketers such as IBM and Compaq were encouraged because other, less adventuresome consumers, like businesspeople, would likely adopt personal computers later. Based on the diffusion of innovation concept, those first buyers of personal computers were
- early adopters.
- early majority.
- product leaders.
- diffusion leaders.
Universal Concerts wants to bring a series of music concerts to Canada next year. In general, western Canadians prefer country music while eastern Canadians prefer rock. In fact, a country music event in eastern Canada is very likely to have lots of empty seats. To maximize revenue, Universal Concerts should segment its Canadian market according to
- geographic characteristics.
- demographic characteristics.
- music format characteristics.
- behavioral characteristics.
- psychographic characteristics.
The owner of a small restaurant that sells takeout fried chicken and biscuits each month pays $2,500 in rent, $500 in utilities, $750 interest on his loan, insurance premium of $200, and $250 on advertising on local buses. A bucket of chicken is priced at $9.50. Unit variable costs for the bucket of chicken are $5.50. How many buckets of chicken does the restaurant need to sell to break even each month?
- 442 buckets
- 764 buckets
- 1,050 buckets
- 3,150 buckets
- 4,200 buckets
When a company uses advertising on Instagram, the action is a tactic of the __________ element of the marketing mix.
Olay, a personal care product firm, offers anti-aging and restoration products like its Total Effects cleansing cloths that are best targeted toward
- Generation Z.
- Generation Y.
- baby boomers.
- baby busters.
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