- Description
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