< Liberty BUSI 520 Quiz 2 Chapters 6-11>

 

Question 1                                                                                                                                          2 out of 2 points

 

________ is the process by which we select, organize, and interpret information

 

inputs to create a meaningful picture of the world.

 

Question 2                                                                                                                                          2 out of 2 points

 

Brands that meet consumers’ initial buying criteria are called the ________.

 

Question 3                                                                                                                                          2 out of 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 short-list only those computers, that score at least a

 

seven on his scale on all three characteristics. Which of the following choice

 

heuristics has he chosen?

 

Question 4                                                                                                                                          2 out of 2 points

 

The relatively homogeneous and enduring divisions in a society, which are

 

hierarchically ordered and whose members share similar values, interests, and

 

behavior constitute ________.

 

Question 5                                                                                                                                          2 out of 2 points

 

Consumers who worry about the environment and want products to be produced in

 

a sustainable way have been named ________.

 

Question 6                                                                                                                                          2 out of 2 points

 

Ben always reaches for the bright blue and yellow box of Ritz crackers when he

 

visits the snack food aisle in the grocery store. He rarely even reads the box or

 

checks the price. Which of the following heuristics is most likely being used by

 

Ben?

 

Question 7                                                                                                                                          2 out of 2 points

 

Steve has only 20 minutes to have lunch. Although he really likes McDonald’s, the

 

line is very long and he is concerned that he will not have a chance to get through

 

the line and eat his lunch before he is due back at work. Steve perceives

 

 

 

________ in going to McDonald’s today.

 

 

 

Question 8                                                                                                                                          2 out of 2 points

 

Which of the following theories developed by Frederick Herzberg distinguishes

 

dissatisfiers from satisfiers?

 

Question 9                                                                                                                                          2 out of 2 points

 

A mobile phone manufacturing company observes that the main reason for an

 

abrupt fall in their sales volume is the unconventional design of their phones that

 

consumers found inconvenient and unattractive. The findings prompt the company

 

to adopt a new strategy. They redesigned the product models keeping the

 

requirements of the end-user in mind. According to the expectancy value-model,

 

the company’s strategy can be termed as ________.

 

Question 10                                                                                                                                       2 out of 2 points

 

Maria considers buying a car for herself, after she notices the advantages derived

 

by her best friend from his new car. Which of the following forms of stimulus has

 

activated Maria’s problem recognition process?

 

Question 11                                                                                                                                       2 out of 2 points

 

Which of the following is true for business marketers?

 

Question 12                                                                                                                                       2 out of 2 points

 

The approach to cost reduction that studies whether components can be

 

redesigned or standardized or made by cheaper methods of production without

 

adversely impacting product performance is termed as ________.

 

Question 13                                                                                                                                       2 out of 2 points

 

With respect to e-procurement, Coca-Cola, Sara Lee, Kraft, PepsiCo, P&G, and

 

several other companies joined forces to form a ________ called Transora to use

 

their combined leverage to obtain lower prices for raw materials.

 

 

 

 

 

Question 14                                                                                                                                       2 out of 2 points

 

The partners in ________ systems are united in operational ways, but neither

 

demonstrates structural commitment through legal means or adaptation.

 

Question 15                                                                                                                                       2 out of 2 points

 

Jason Riggs’ company is considered to be an in-supplier for a lawn mower

 

manufacturer. However, recently the lawn mower company has put out a memo to

 

in- and out-suppliers indicating that it would like to change product specifications

 

and delivery schedules. Which of the following buying situations is most likely to be

 

in operation given this data?

 

Question 16                                                                                                                                       2 out of 2 points

 

In the ________ category of buyer-supplier relationship, although bonded by a

 

close, cooperative relationship, the seller adapts to meet the customer’s needs

 

without expecting much adaptation or change on the part of the customer in

 

exchange.

 

Question 17                                                                                                                                       2 out of 2 points

 

In which of the following is a person performing the role of a gatekeeper?

 

LKG gets many calls from potential suppliers, and it is Leah’s job

 

to weed out the good prospects and refer them to others in LKG.

 

Question 18                                                                                                                                       2 out of 2 points

 

The total demand for many business goods and services is not much affected by

 

price changes. Thus, this demand is ________.

 

Question 19                                                                                                                                       2 out of 2 points

 

Patrick J. Robinson and his associates have identified eight stages in the business

 

buying-decision process. This model is called the ________ framework.

 

 

 

 

 

 

 

Question 20                                                                                                                                       2 out of 2 points

 

According to Patrick J. Robinson, the eight stages in the business buying-decision

 

process are known as ________.

 

Question 21                                                                                                                                       2 out of 2 points

 

If an organization’s marketing department wished to create “segment storyboards”

 

to test the attractiveness of each segment’s positioning strategy, this action would

 

most likely occur in the ________ step of the segmentation process.

 

Question 22                                                                                                                                       2 out of 2 points

 

A marketer is interested in segmenting a business market based on urgency of

 

delivery and the size of the order. Which of the following major segmentation

 

variables would the marketer most likely use to assist with the task?

 

Question 23                                                                                                                                       2 out of 2 points

 

________ combines operationally driven mass customization with customized

 

marketing in a way that empowers consumers to design the product service

 

offering of their choice.

 

Question 24                                                                                                                                       2 out of 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 25                                                                                                                                       2 out of 2 points

 

According to PRIZM, the ________ cluster is characterized as being in their late

 

forties and fifties, college-educated, upper-middle-class homeowners that married

 

late, and are still raising children in comfortable suburban subdivisions and

 

pursuing kid-centered lifestyles.

 

 

 

 

 

Question 26                                                                                                                                       2 out of 2 points

 

A marketer is interested in segmenting a business market on ________ if the

 

marketer intends to eventually segment the market based on loyalty and attitudes

 

toward risk.

 

 

 

Question 27                                                                                                                                       2 out of 2 points

 

In the ________ step of the market segmentation process, the marketer evaluates

 

the segment using criteria such as market growth and market access.

 

Question 28                                                                                                                                       0 out of 2 points

 

Coca Cola’s original marketing strategy that offered a single drink Coca Cola

 

Classic in a single sized

 

bottle with the advertising theme “Coke is it,” is an example of ________

 

marketing.

 

Question 29                                                                                                                                       2 out of 2 points

 

Rock band Foo Fighters created a digital street team that sends targeted e-mail

 

messages to members who receive exclusive news, previews, and opportunities to

 

win prizes. The Foo Fighters are using ________ to reach Generation Y.

 

Question 30                                                                                                                                       2 out of 2 points

 

Hilton Hotels customizes rooms and lobbies according to location. Northeastern

 

hotels are sleeker and more cosmopolitan. Southwestern hotels are more rustic.

 

This is an example of ________ segmentation.

 

Question 31                                                                                                                                       2 out of 2 points

 

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.

 

 

 

Question 32                                                                                                                                       2 out of 2 points

 

A parent brand that is associated with multiple products through brand extensions

 

is also called a(n)________.

 

 

 

Question 33                                                                                                                                       2 out of 2 points

 

With respect to the brand building pyramid, at which of the following “building block

 

levels” would we expect the consumer to develop an intense, active loyalty?

 

Question 34                                                                                                                                       2 out of 2 points

 

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

 

Question 35                                                                                                                                       2 out of 2 points

 

________ are devices that can be trademarked and serve to identify and

 

differentiate the brand.

 

Question 36                                                                                                                                       2 out of 2 points

 

According to the BRANDZ model of brand strength, brand building involves people

 

progressing through a sequential series of steps. Which of these steps convey the

 

message ” Nothing else beats this brand”?

 

Question 37                                                                                                                                       2 out of 2 points

 

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

 

Question 38                                                                                                                                       2 out of 2 points

 

From a marketing management perspective, there are three main sets of brand

 

equity drivers. Which of these drivers was most applicable when McDonald’s

 

decided to use the “golden arches” and Ronald McDonald as symbols of their

 

brand?

 

Question 39                                                                                                                                       0 out of 2 points

 

Apple’s ipod shuffle is an example of ________.

 

 

 

 

 

 

 

Question 40                                                                                                                                       2 out of 2 points

 

________ brands are positioned with respect to competitors’ brands so that more

 

important (and more profitable) flagship brands can retain their desired positioning.

 

Question 41                                                                                                                                       2 out of 2 points

 

________ are attributes or benefits that consumers view as essential to a

 

legitimate and credible offering within a certain product or service class.

 

Question 42                                                                                                                                       0 out of 2 points

 

Philip Morris bought Miller brewing and launched low-calorie beer, at a time when

 

consumers had the impression that low-calorie beer does not taste as good as

 

normal beer. What does the company assure by stating that the beer tastes good?

 

Question 43                                                                                                                                       2 out of 2 points

 

Which of the following criteria relates to consumers seeing the brand association

 

as personally relevant to them?

 

Question 44                                                                                                                                       2 out of 2 points

 

Which element of a brand story framework do Randall Ringer and Michael

 

Thibodeau relate to the time, place, and context of the brand story?

 

Question 45                                                                                                                                       0 out of 2 points

 

Dayton, Ohio–based Iams found success selling premium pet food through

 

regional veterinarians, breeders, and pet stores. This is an example of ________

 

differentiation.

 

Question 46                                                                                                                                       2 out of 2 points

 

The ________ attack attempts to capture a significant share of the consumer

 

market by launching a grand offensive on several fronts.

 

 

 

 

 

 

 

Question 47                                                                                                                                       0 out of 2 points

 

A music school in Boyles Height, LA, specializes in teaching the guitar and the

 

violin. After a spurt in growth and a few successful years, the school is

 

experiencing a slowdown in sales and stability in its profits due to an increase in

 

competition. The school is in the ________ stage of its life cycle.

 

 

 

Question 48                                                                                                                                       2 out of 2 points

 

The key idea in successful nichemanship is specialization. Which of the following

 

specialists would most closely be identified with the characterization of being an

 

organization that limits its selling to one customer?

 

Question 49                                                                                                                                       2 out of 2 points

 

A marketing manager has decided to “leapfrog” competition by moving into

 

cutting-edge technologies. This indirect approach to attacking competition can be

 

characterized as ________.

 

Question 50                                                                                                                                       2 out of 2 points

 

For a market challenger, attacking ________ is a high risk but potentially high

 

payoff strategy, which also allows it to distance itself from other challengers.