MKT 421T Wk 5 – Apply: Course Post Assessment

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MKT 421T Wk 5 - Apply: Course Post Assessment
MKT 421T Wk 5 – Apply: Course Post Assessment
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MKT 421T Wk 5 – Apply: Course Post Assessment 

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

Multiple Choice

economic.

competitive.

technological.

social.

regulatory.

 

 

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

Multiple Choice

family branding.

mass customization.

“Tiffany/Walmart” marketing.

market melding.

specialty customization.

 

The American Cancer Society reports that 57,000 Americans die from colon cancer each year, a number that would drop significantly if people over 50 were checked regularly. But being tested for colon cancer is not a pleasant experience and most people fear the possibility of bad news. The ACS sponsored several ads using “Polyp Man” dressed in a big red suit to encourage people to get tested. This is most likely an example of a __________ appeal.

Multiple Choice

humorous

cognitive

rhetorical

fear

sex

 

The Vermont Teddy Bear Co. sells handmade teddy bears designed to be given as gifts for almost every occasion imaginable. The Love Bandit Bear is designed for people to give on Valentine’s Day. The unique identification number that the Vermont Teddy Bear Co. uses to distinguish this teddy bear from the others in order to track it in the warehouse is called a(n)

Multiple Choice

inventory ID code.

QR code.

NAICS stock code.

order quantity code.

stock keeping unit.

 

Kraft Foods distributes Starbucks coffee in U.S. supermarkets and internationally. These firms are most likely using __________ strategy.

Multiple Choice

multichannel distribution

a direct marketing channel

a cooperative distribution channel

a strategic channel alliance

a dual distribution agreement

 

An ad for Citrucel fiber supplement claimed that in a blind taste test, consumers preferred the taste of Citrucel to Metamucil 2 to 1. This ad is an example of __________ advertising.

Multiple Choice

reinforcement

comparative

persuasive

informative

reminder

 

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?

Multiple Choice

442 buckets

764 buckets

1,050 buckets

3,150 buckets

4,200 buckets

 

Oil prices have an impact on transportation costs for many types of products. Should oil prices change, the price consumers pay for products is often adjusted accordingly. Changing oil prices would be an example of a(n) __________ force.

Multiple Choice

social

economic

technological

competitive

regulatory

 

Which of the following groups would be the least likely target market for a company producing canned food in single-serving sizes?

Multiple Choice

single adults

school kitchens

campers

senior citizens

vending machine owners

 

TransWave International is a small company that has developed a system that uses the Internet and patented electronic sensors as an early-warning device for pipeline leaks. With recent growth in the natural gas industry, the timing is right for this company’s success, but it must use __________ advertising so oil companies will know of its product’s existence.

Multiple Choice

reminder

competitive

pioneering

institutional

objective

 

Many consumers are committed to brands with a strong link to social action. An example of this would be

Multiple Choice

McDonald’s “I’m Lovin’ It” campaign.

Colgate’s “Every Drop Counts” campaign.

Diesel’s “Be Stupid” campaign.

Liz Claiborne’s “Claiborne for Men” campaign.

Samsung’s “The Jitterbug” campaign.

 

Cessna is considered the volume leader in the executive jet market. It has been described as “almost totally vertically integrated.” This quote means that Cessna

Multiple Choice

does not fall under the jurisdiction of any federal regulatory agency.

owns several of the entities that would make up the traditional marketing channel.

has eliminated economies of scale.

has achieved a high level of social responsibility.

uses outsourcing for all component parts and materials.

 

An ad for Mercedes-Benz cars showed a heart-shaped box of chocolates with one of the chocolates topped with the well-recognized Mercedes logo. There was no mention of the company name nor any sign of a product in the ad. This ad was an example of __________ advertising.

Multiple Choice

competitive institutional

competitive product

advocacy

pioneering product

reminder institutional

 

Among business products, copiers would be best considered which type of support product?

Multiple Choice

installations

accessory equipment

supplies

industrial services

raw materials

 

When Coca-Cola promoted Coke as a morning beverage for those consumers who don’t drink coffee, it used a __________ strategy.

Multiple Choice

product modification

brand modification

market-product extension

diversification

market modification

 

Forever Quilting makes quilting kits priced at $120. The costs of the materials that go into each kit total $45. It costs $5 in labor to assemble a kit. The company has monthly expenses of $1,000 for rent and insurance, $200 for heat and electricity, $500 for advertising, and $4,500 for the monthly salary of its owner. Forever Quilting’s unit variable cost for its kits is

Multiple Choice

$5.

$45.

$50.

$120.

$170.

 

The element of the marketing mix demonstrated when an art gallery suggests a $2 donation at the door is

Multiple Choice

philanthropy.

place.

product.

promotion.

price.

 

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?

Multiple Choice

disruptive innovation

continuous innovation

discontinuous innovation

dynamically continuous innovation

evolutionary innovation

 

Procter & Gamble (P&G) decided to skip a generation of consumers when it began to market Old Spice deodorant. The target market consists of men aged 18 to 34 years old (Generation Y) who don’t remember the Old Spice brand sold to their grandfathers (pre baby boomer) many years ago. P&G is using which type of segmentation variable?

Multiple Choice

behavioral

demographic

lifestyle

geographic

psychographic

 

Olay, a personal care product firm, offers anti-aging and restoration products like its Total Effects cleansing cloths that are best targeted toward

Multiple Choice

echo-boomers.

Generation Z.

Generation Y.

baby boomers.

baby busters.

 

Newman’s Own is a company that gives all of its profits to charities. The company produces popcorn, salsa, pasta sauces, and salad dressings under the Newman’s Own brand name. These product lines comprise the company’s

Multiple Choice

product mix.

stock keeping units.

product category.

product class.

marketing category.

 

Which of the following is an example of a multiple products, multiple market segments strategy?

Multiple Choice

College Football magazine selects different covers for essentially the same written content in order to appeal to different geographic markets in the United States.

A new movie used several different movie trailers. One set of previews showed the action scenes in order to attract one audience and the other set showed romantic scenes to attract another audience.

Ford manufactures SUVs for those who wish to carry lots of people and pickup trucks for those who wish to carry lots of cargo.

Arm and Hammer Baking Soda can be used for baking and to remove odors from refrigerators and cat litter boxes.

Johnson’s Baby Oil is advertised as a skin softener for babies and as a makeup remover for women.

 

Many large consulting firms are beginning to sponsor “women-only” networking events. The purpose of these events is to offer an opportunity for women in management to network with other businesswomen, either as clients, mentors, or protégés. This is an example of which environmental force?

Multiple Choice

social

economic

technological

competitive

regulatory

 

An important social trend is the continued concern for health and well-being in the United States. This is most likely evidenced by

Multiple Choice

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.

 

Rather than compete with large greeting card companies for shelf space in supermarkets, several smaller card companies place their cards in pack-and-ship stores where the customer can mail a card on the spur of the moment, and in racks in car washes where customers who are waiting for their cars can browse and purchase cards. This is an example of which type of marketing channel strategy?

Multiple Choice

a strategic channel alliance

multichannel distribution

parallel distribution

dual distribution

direct distribution

 

Shortly after World War II, John Jackson developed an idea for a machine lubricant that was superior to anything currently on the market. He persuaded friends to help him begin producing it for sale. While demand kept up with production at first, he soon found that he had to hire a sales force to sell excess product to manufacturing companies in the area. He decided this was primarily because of several strong competitors that had recently come into the industry. This is an example of marketing behavior that would occur during the __________ era of U.S. business history.

Multiple Choice

marketing concept

production

goods

sales

social entrepreneurship

 

21st Century Fox is the name for Fox’s broadcast/cable TV networks and TV/movie studios. Since most of the shows produced at its TV production unit and many of the movies made at its studio are only televised on its cable TV networks, 21st Century Fox is an example of a(n)

Multiple Choice

corporate vertical marketing system.

integrated marketing system.

contractual vertical marketing system.

corporate horizontal marketing system.

contractual horizontal marketing system.

 

Suppose you are the owner of a picture frame store and you wish to calculate how many frames you must sell to cover your fixed and variable costs at a given price. Let’s assume that the demand for your frames 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). If your picture frame store sold 2,000 picture frames, what would your profit (or loss) be?

Multiple Choice

a loss of $32,000

$0

$32,000 profit

$112,000 profit

$128,000 profit

 

Which buyer requirement would be most important in choosing a channel for a financial service for a novice investor who is interested in setting up a retirement account?

Multiple Choice

information

context

variety

pre- and postsale services

adaptation

 

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.

Multiple Choice

competitive

pioneering

advocacy

reminder

political