Question 1

Markets can be segmented in a number of ways, including by geography, demographic variables, psychographic variables, behavioral variables, and product type.

Accepted Answer

A) True 
 B)False

Question 2

________ is a term that denotes the set of assets and liabilities that are linked to a brand and enable it to raise a firm's valuation.

Accepted Answer

A)   Trademark equity
B)   Brand equity
C)   Logo equity
D)   Trademark value-added
E)   Trade name strengthF) B) and D)
G) A) and D)

Question 3

Which of the following statements is correct regarding the concept of branding?

Accepted Answer

A)   Brands cannot be built through advertising, public relations, sponsorships, social media, or similar techniques.
B)   A company doesn't normally want its customers to identify with its brand.
C)   Startups usually start with an established brand.
D)   A brand can be one of a company's most valuable assets.
E)   A brand can denote a negative impression of a company.F) B) and D)
G) All of the above

Question 4

Kyle White owns a sporting goods store that appeals to hunters and fishers. The market that Kyle is trying to appeal to is called his ________ market.

Accepted Answer

A)   focal
B)   objective
C)   target
D)   critical
E)   intentionF) A) and B)
G) A) and C)

Question 5

In ________-based pricing, the list price of an item is determined by adding a markup percentage to a product's cost.

Accepted Answer

A)   cost
B)   compliance
C)   value
D)   competitive
E)   economicF) B) and C)
G) C) and E)

Question 6

According to the textbook, a brand is all of the following except a(n)  ________.

Accepted Answer

A)   firm's reputation
B)   firm's credentials
C)   indicator of trust and reduced risk
D)   description of a company's nature
E)   written warrantyF) A) and B)
G) B) and E)

Question 7

Karen Simon recently purchased a digital camera. She considered three cameras-a Sony that was priced at $239.00, a Canon priced at $319.00, and a Nikon priced at $399.00. Karen couldn't tell much difference between the cameras, so she bought the Nikon, figuring that because it was the most expensive of the three, it must be the best. According to the textbook, Karen was making a ________.

Accepted Answer

A)   price-quality attribution
B)   price-merit attribution
C)   cost-value acknowledgement
D)   cost-worth attribution
E)   price-worth acknowledgementF) A) and E)
G) A) and B)

Question 8

Which element of the marketing mix is the only one that produces revenue?

Accepted Answer

A)   Product
B)   Place (or distribution) 
C)   Advertising
D)   Price
E)   PromotionF) A) and B)
G) A) and C)

Question 9

Which of the following is the correct sequence of events to the process of selecting a target market and position strategy?

Accepted Answer

A)   Create a unique positioning strategy, Select a target market, Segment the market
B)   Segment the market, Create a unique positioning strategy, Select a target market
C)   Segment the market, Select a target market, Create a unique positioning strategy
D)   Select a target market, Create a unique positioning strategy, Segment the market
E)   Create a unique positioning strategy, Segment the market, Select a target marketF) A) and B)
G) A) and C)

Question 10

Birchbox's phrase "The Box is Monthly, the Discoveries are Endless" is an example of a(n)  ________.

Accepted Answer

A)   tagline
B)   grabline
C)   notice-line
D)   catchline
E)   attention-lineF) C) and D)
G) A) and D)

Question 11

A ________ illustrates a firm's positioning strategy relative to its major rivals.

Accepted Answer

A)   product attribute map
B)   positioning analysis grid
C)   positioning plot
D)   competitive analysis grid
E)   positioning diagramF) All of the above
G) A) and B)

Question 12

Which of the following statements is untrue regarding a firm's sales process?

Accepted Answer

A)   A formal sales process helps a firm fine tune its approach to sales and build uniformity into the process.
B)   Following a formal or structured process to generate and close sales benefits a firm.
C)   A "sales process" is equally valuable whether a firm is selling directly to customers or through intermediaries.
D)   A firm's sales process depicts the steps it goes through to identify its target market.
E)   A formal sales process involves a number of identifiable steps.F) B) and C)
G) None of the above

Question 13

A referent account is an early user of a firm's product who is willing to give a testimonial regarding his or her experience with the product.

Accepted Answer

A) True 
 B)False

Question 14

The proper sequence in selecting a target market and positioning strategy is (1) craft a unique positioning strategy, (2) select a target market, and (3) segment the market.

Accepted Answer

A) True 
 B)False

Question 15

In cost-based pricing, the list price is determined by estimating what customers are willing to pay for a product and then backing off a bit to provide a cushion.

Accepted Answer

A) True 
 B)False

Question 16

The Partnering for Success feature in Chapter 11 focuses on GoPro and Red Bull, two companies that have established a cobranding relationship. Cobranding is when two companies ________.

Accepted Answer

A)   pool their resources to buy advertising space to market their individual brands
B)   locate their businesses in close proximity to one another because their brands are complementary
C)   form a partnership to combine their brands
D)   employ the same advertising agency to promote their brands
E)   pool their resources to license a brand from a third companyF) A) and B)
G) A) and E)

Question 17

Describe the concept of guerrilla marketing. Why is guerrilla marketing particularly suitable for entrepreneurial firms?

Accepted Answer

Guerrilla marketing is a low-budget appr...

Question 18

Efforts to establish and maintain a company's image with the public are referred to as ________.

Accepted Answer

A)   open relations
B)   public relations
C)   civic relations
D)   community relations
E)   advertisingF) B) and E)
G) A) and E)

Question 19

The 4Ps of marketing refer to a company's ________.

Accepted Answer

A)   tactical mix
B)   promotional blend
C)   organizational mix
D)   marketing mix
E)   selling mixF) A) and C)
G) C) and E)

Question 20

Which of the following selections is incorrect regarding a firm's "positioning" strategy?

Accepted Answer

A)   Position is concerned with how the firm is situated relative to its competitors.
B)   A firm's decision about how to position itself relative to its competitors starts with a product or service idea that is tested and refined through feasibility analysis and marketing research.
C)   Determining which position in a market to occupy and compete in is a strategic call on the part of a company based on its mission, its overall approach to the marketplace, and its competitive landscape.
D)   Once a firm positions itself in a certain way, it must be able to follow through with a product or service offering that lives up to the image it has created.
E)   After selecting a positioning strategy, the firm's next step is to select a target market.F) B) and E)
G) A) and D)

Exam 11: Unique Marketing Issues

A referent account is an early user of a firm's product who is willing to give a testimonial regarding his or her experience with the product.

Correct Answer
verified

The proper sequence in selecting a target market and positioning strategy is (1) craft a unique positioning strategy, (2) select a target market, and (3) segment the market.

Correct Answer
verified

In cost-based pricing, the list price is determined by estimating what customers are willing to pay for a product and then backing off a bit to provide a cushion.

Correct Answer
verified

Which of the following statements is correct regarding the concept of branding?

Correct Answer
verified

The Partnering for Success feature in Chapter 11 focuses on GoPro and Red Bull, two companies that have established a cobranding relationship. Cobranding is when two companies ________.

Correct Answer
verified

Markets can be segmented in a number of ways, including by geography, demographic variables, psychographic variables, behavioral variables, and product type.

Correct Answer
verified

Which of the following is the correct sequence of events to the process of selecting a target market and position strategy?

Correct Answer
verified

Efforts to establish and maintain a company's image with the public are referred to as ________.

Correct Answer
verified

Which of the following selections is incorrect regarding a firm's "positioning" strategy?

Correct Answer
verified

Correct Answer
verified

A ________ illustrates a firm's positioning strategy relative to its major rivals.

Correct Answer
verified

Which element of the marketing mix is the only one that produces revenue?

Correct Answer
verified

In ________-based pricing, the list price of an item is determined by adding a markup percentage to a product's cost.

Correct Answer
verified

Which of the following statements is untrue regarding a firm's sales process?

Correct Answer
verified

Describe the concept of guerrilla marketing. Why is guerrilla marketing particularly suitable for entrepreneurial firms?

Correct Answer
verified
Guerrilla marketing is a low-budget appr...
View Answer

According to the textbook, a brand is all of the following except a(n) ________.

Correct Answer
verified

________ is a term that denotes the set of assets and liabilities that are linked to a brand and enable it to raise a firm's valuation.

Correct Answer
verified

Birchbox's phrase "The Box is Monthly, the Discoveries are Endless" is an example of a(n) ________.

Correct Answer
verified

The 4Ps of marketing refer to a company's ________.

Correct Answer
verified

Kyle White owns a sporting goods store that appeals to hunters and fishers. The market that Kyle is trying to appeal to is called his ________ market.

Correct Answer
verified

Exam 11: Unique Marketing Issues

A referent account is an early user of a firm's product who is willing to give a testimonial regarding his or her experience with the product.

Correct AnswerverifiedShow Answer

The proper sequence in selecting a target market and positioning strategy is (1) craft a unique positioning strategy, (2) select a target market, and (3) segment the market.

Correct AnswerverifiedShow Answer

In cost-based pricing, the list price is determined by estimating what customers are willing to pay for a product and then backing off a bit to provide a cushion.

Correct AnswerverifiedShow Answer

Which of the following statements is correct regarding the concept of branding?

Correct AnswerverifiedShow Answer

The Partnering for Success feature in Chapter 11 focuses on GoPro and Red Bull, two companies that have established a cobranding relationship. Cobranding is when two companies ________.

Correct AnswerverifiedShow Answer

Markets can be segmented in a number of ways, including by geography, demographic variables, psychographic variables, behavioral variables, and product type.

Correct AnswerverifiedShow Answer

Which of the following is the correct sequence of events to the process of selecting a target market and position strategy?

Correct AnswerverifiedShow Answer

Efforts to establish and maintain a company's image with the public are referred to as ________.

Correct AnswerverifiedShow Answer

Which of the following selections is incorrect regarding a firm's "positioning" strategy?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A ________ illustrates a firm's positioning strategy relative to its major rivals.

Correct AnswerverifiedShow Answer

Which element of the marketing mix is the only one that produces revenue?

Correct AnswerverifiedShow Answer

In ________-based pricing, the list price of an item is determined by adding a markup percentage to a product's cost.

Correct AnswerverifiedShow Answer

Which of the following statements is untrue regarding a firm's sales process?

Correct AnswerverifiedShow Answer

Describe the concept of guerrilla marketing. Why is guerrilla marketing particularly suitable for entrepreneurial firms?

Correct AnswerverifiedGuerrilla marketing is a low-budget appr...View AnswerShow Answer

According to the textbook, a brand is all of the following except a(n) ________.

Correct AnswerverifiedShow Answer

________ is a term that denotes the set of assets and liabilities that are linked to a brand and enable it to raise a firm's valuation.

Correct AnswerverifiedShow Answer

Birchbox's phrase "The Box is Monthly, the Discoveries are Endless" is an example of a(n) ________.

Correct AnswerverifiedShow Answer

The 4Ps of marketing refer to a company's ________.

Correct AnswerverifiedShow Answer

Kyle White owns a sporting goods store that appeals to hunters and fishers. The market that Kyle is trying to appeal to is called his ________ market.

Correct AnswerverifiedShow Answer

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Correct Answer
verified
Guerrilla marketing is a low-budget appr...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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