Exam V Marketing (AQA) (2022)

lOMoARcPSD|31683149 Exam V Marketing (Counts 15% of Course Grade) MGT 8803 Business Fundamentals for Analytics Special Topics In Mgt (Georgia Institute of Technology) Scan to open on Studocu...

lOMoARcPSD|31683149 Exam V Marketing (Counts 15% of Course Grade) MGT 8803 Business Fundamentals for Analytics Special Topics In Mgt (Georgia Institute of Technology) Scan to open on Studocu Studocu is not sponsored or endorsed by any college or university Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics  This quiz has been regraded; your score was not affected. Exam V Marketing (Counts 15% of Course Grade) Due May 3 at 11:59pm Points 106 Questions 53 Available Apr 27 at 11am - May 3 at 11:59pm 7 days Time Limit 100 Minutes Instructions NOTE: Students are NOT allowed to copy or screen print questions/problems on this exam. You will be allowed an opportunity to review your exam after the final exam period has closed. This EXAM may be taken during the time period Thursday April 28, 2022, 12:00 am eastern, to Tuesday May 3, 2022 (11:59 pm eastern time) and will require 100 minutes of uninterrupted time. All times are eastern daylight savings time Exam V covers Marketing. All questions are either Multiple Choice or True/False. There are no problems on this exam. The exam does not start until you have concluded the proctoring initialization process. Once the exam is visible, you will have exactly 100 minutes to complete it. This process cannot be "paused" so please remember that once you start, 100 minutes later the exam will automatically close and no further entries will be permitted. Once you begin scrolling through the exam, the exam timer will no longer be visible without scrolling back to the top of the page. For this reason, it is suggested that you keep a clock or timer nearby and keep a close eye on it. It is your responsibility to ensure the you submit your exam before time runs out. Given the short time required to complete the exam bathroom breaks are NOT allowed. Maximum Points That Can Be Earned Is 106 Points Good Luck Proctoring Proctoring Rules: Other than the exam no other windows or programs should be open. Additionally, You may not use books, notes or "cheat" sheets. You may have blank scratch paper to write on during the exam. Before answering your first question, please hold up all blank sheets of paper, slowly showing both sides. You may have earbuds for the microphone function (one of the requirements of proctoring) or for https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 1/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics y p ( q p g) listening to music, but if listening to music, the source device must remain out of reach. If you have any issues during the exam contact Honorlock directly by sending an email to Note: If you are having issues with Honorlock and you have worked with Honorlock and/or Canvas to no resolution, contact GT Service Now (https://gatech.service- now.com/continuity?id=sc_cat_item&sys_id=cb9a617fdbd30810391b9837db9619ad). onorlock Chrome Extension s exam requires Google Chrome and the Honorlock Chrome Extension.  Extension Required Add the Honorlock extension to continue I agree to Honorlock's Terms of Service (https://honorlock.com/legal/terms) and acknowledge I have read and understand Honorlock's Privacy Policy (https://honorlock.com/legal/app_privacy) Get Started Need Help? https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 2/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 3/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics © 2022 Honorlock Inc. Support (https://honorlock.com/support) Privacy Policy (https://honorlock.com/legal/app_privacy) Terms of Service (https://honorlock.com/legal/terms) This quiz was locked May 3 at 11:59pm. Attempt History Attempt Time Score Regraded LATEST Attempt 1 36 minutes 92.5 out of 106 92.5 out of 106 Score for this quiz: 92.5 out of 106 Submitted May 3 at 12:50am This attempt took 36 minutes. If you run into a technical issue during your exam, please contact the appropriate provider: Honorlock: Within the exam, you will see "24/7 Proctoring Support" to the right of the exam questions and this includes options for Live Chat and Phone support. If you require support before or after the exam, you can email [email protected] (mailto:[email protected]) or call 1-844-243-2500. Canvas: Call 1-877-259-8498 or use the chat here https://cases.canvaslms.com/liveagentchat?chattype=student (https://cases.canvaslms.com/liveagentchat?chattype=student) https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 4/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics Question 1 2 / 2 pts Marketing Questions (Count 2 Points Each) A marketing strategy: Correct! specifies a target market and a related marketing mix. provides a focused but narrow picture of what a firm will do in some market. is a whole-company plan. includes two interrelated parts--product mix and product development. includes the marketing mix, but does not specify customers. Question 2 0 / 2 pts Extreme Boards, a manufacturer of high performance snowboard, carefully developed a strategy for moving into South America. The strategy had poor results after an economic recession rapidly decreased consumer spending in recreational products in most of its South American markets, demonstrating the influence of the _____ on marketing strategy. technology cultural values ou Answered customer behaviors https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 5/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics orrect Answer external market environment competitive environment internal company factors government intervention Question 3 2 / 2 pts Which of the following would be a variable in psychographic profiling (developing a customer persona). Check all answers that apply (may be more than one) Correct! lifestyle Correct! values brand loyalty Correct! attitudes Correct! personality marital status Question 4 2 / 2 pts The total stream of purchases that a customer can contribute to the firm over the length of the firm-customer relationship is referred to as? customer whole value https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 6/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics customer estimated value Correct! customer lifetime value customer satisfication value customer worth Question 5 Original Score: 2 / 2 pts Regraded Score: 2 / 2 pts  This question has been regraded. Which of the following is a key function of "positioning" in marketing campaigns orrect Answer To provide a reason why the customer should buy the product. To divert the customer's attention from the product's flaws. ou Answered To override the customer's previous mindset. To distract the customer from considering a competitor's product. Question 6 1 / 2 pts Creating differentiation (uniqueness in the minds of the customer) applies specifically to which component(s) of the marketing mix? Check all that apply. Base your answer on class discussion during video conferences. Correct! Product https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 7/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics Correct! Price orrect Answer Place orrect Answer Promotion Question 7 2 / 2 pts A differentiated product may be unique in the marketplace but it will only be successful under which of the following circumstances. Correct! If it satisfies customer needs If the price difference is minimal If the brand can be classified as aspirational Differentiated products will always be successful Question 8 2 / 2 pts Controllable variables that the marketer has to create and harvest demand are referred to as the Competitive Offering Correct! Marketing Mix The 4 C's Value Proposition https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 8/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics The 4 Differentiators Question 9 2 / 2 pts Which ONE of the following is NOT a criteria for determining market segments? Members of the segments should be homogeneous along at least one important customer dimension The segment should be large enough to be profitable The segmenting dimensions should be useful in identifying specific customers and in designing the appropriate marketing mix Members of the segment should respond in a similar way to the same marketing offer Correct! Members of the segment should be in the same socio-economic class Question 10 2 / 2 pts An individual develops a new type of fishing lure and decides to sell the product at an outdoor show because it will attract a lot of people who enjoy fishing. What type of segmentation is this? Geographic https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 9/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics Correct! Behavioral Psychological Demographic RFM Question 11 2 / 2 pts Which of the following is not part of the five levels of branding? Brand rejection Brand recognition Brand preference Correct! Brand domination Brand non-recognition Question 12 2 / 2 pts A person who purchases flowers will select different floral arrangements for a retirement party, a funeral, and a Valentine's Day date. This illustrates the impact of _____ on purchase decisions. economic needs psychological variables https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 10/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics social influences Correct! the purchase situation extensive problem solving Question 13 2 / 2 pts Yamaha North America is planning on launching a new line of Jet Skis called the Double Riders, for the two seats that will come standard with the water craft. The concept is similar to a bicycle made for two. The North America marketing manager is having his direct sales force call on retailers to explain the roll-out strategy (timing, advertising, promotion, marketing collateral) and to hype product features to the firms most important resellers. This is an example of: a "pulling" product strategy Correct! a "pushing" product strategy an extensive distribution strategy a "short" channel strategy a "rolling" product strategy Question 14 2 / 2 pts In an organization (business), significant purchases are often controlled by a "buying center". In a buying center, the group of people whose expertise is needed when buying a product are known as the ____________. https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 11/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics the economic buyer the decision-maker Correct! the influencers the gatekeepers the guardians the end users the authorities Question 15 2 / 2 pts Which of the following should not be considered one of the controllable elements in a firm's marketing strategy: price selection target market selection sales force design advertising content Correct! customer behavior product features Question 16 2 / 2 pts https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 12/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics A target marketer who uses a single marketing mix strategy to appeal to both office tablet computer users and home tablet computer users is applying: the broad market approach the single market approach the multiple target market approach Correct! the combined market approach the generic market approach Question 17 2 / 2 pts In a video conference call we discussed a model of influences on customer behavior that highlighted 4 primary factors: economic needs, psychological variables, purchase situation, and ______________. product visibility environmental sustainability influencer consensus technology adoption Correct! social influence Question 18 2 / 2 pts https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 13/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics According to Professor Buchanan, probably the most significant factor in influencing consumer purchasing decisions is: social influence purchase situation influencer consensus technological adoption Correct! psychological variables environmental sustainability Question 19 2 / 2 pts The particular situation a consumer is in during or around the time of purchase can have an effect on the actual purchase. Which of the following is NOT generally considered a key situational influence? physical surroundings purchase reason time available Correct! beliefs and opinions Question 20 1.5 / 2 pts Please match the product class to the correct description. https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 14/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics Correct! Are purchased quickly with Convenience little effort. They may be inexpensive, but often require little service and bought by habit Correct! Purchased immediately Emergency when the need is great. Consumers generally don't shop around for these products or ask how much they cost ou Answered Are compared with Regular unsought competing products; products considered as either Homogeneous (decision based on price) or Heterogeneous (decision based on suitability) Correct Answer Shopping Correct! Products that the Speciality consumer really wants and have fewer or no acceptable substitutes. They are characterized by the consumer's willingness to search Other Incorrect Match Options: New unsought Bargain Exclusive Premium Regular unsought https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 15/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics Question 21 0 / 2 pts Consider both statements. Statement 1. In general the business to business ("B2B") decision-making process is longer and more formal than the business to consumer ("B2C") decision-making process. Statement 2. The emphasis of B2B buying criteria is on psychological benefits of the product or service. orrect Answer Only Statement 1 is True Only Statement 2 is True Both Statements are True ou Answered Both Statements are False Question 22 2 / 2 pts Lever Bros. is introducing a new brand of shampoo in a highly competitive market. Wholesalers might be willing to handle the new product, except that retailers are already complaining about overcrowded shelf space. Therefore, Lever Bros. has decided to spend $10 million on TV advertising and send free samples to 3,000,000 households to convince consumers of the new product's superiority—and to get them to ask for it at their retail store. Lever Bros. is using: dual distribution Correct! a "pulling" policy direct marketing a "pushing" policy https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 16/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics a sampling distribution Question 23 2 / 2 pts What is the first thing a marketer should do to develop a new product or service? create a Facebook page launch a promotional campaign Correct! develop an understanding of the customer's needs brainstorm new ideas for a product or service develop a mockup or prototype Question 24 0 / 2 pts When should Engineering first get involved in the product development process? ou Answered Screening Commercialization orrect Answer Idea Generation Idea Evaluation Development https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 17/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics Question 25 2 / 2 pts (True/False). Consumer product classes are based on how consumers shop for the product Correct! True False Question 26 0 / 2 pts Major appliances, furniture, and clothing are typical examples of ______ products? convenience orrect Answer shopping specialty impulsive ou Answered unsought Question 27 2 / 2 pts Ravi Singh is working his way through college as an independent distributor of the Rapier Knife Co. The Rapier product line includes kitchen https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 18/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics knives, hunting knives, and other special-purpose cutlery. Ravi makes sales presentations to potential customers in their homes. If a customer wants to make a purchase, Ravi buys the knives from Rapier and sells them to the customer at a markup. For example, Rapier's most popular knife is a chef's knife that Ravi buys for $25 and resells to the consumer for $50. Ravi: Is part of a direct-to-customer channel. Is engaged in direct marketing Correct! Is engaged in direct selling, but is part of an indirect channel None of these alternatives is correct Question 28 2 / 2 pts The choice between high markups and high volume is part of which of the following retailer marketing decisions? target market decisions Correct! pricing decisions product assortment and services decisions merchandising decisions promotion decisions Question 29 2 / 2 pts https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 19/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics A direct-to-customer channel: NOTE: In answering this questions assume that the answer options are in a, b, c, d, e, and f order includes a retailer but not a wholesaler. Correct! usually helps the producer to be more aware of changes in final customer attitudes eliminates some of the marketing mix for the firm is typical to reach final consumer markets. is most suitable when a large number of transactions are required in the channel or when orders are smaller Both answers (b) and (c) are correct Question 30 2 / 2 pts The marketing manager for a producer of mattresses and box springs distributes its products through discount stores (like Costco), department stores, furniture stores, and specialty bedding stores. To avoid conflict with channel members, the manager: should offer purchase discounts based on the quantity of mattresses that the retailer sells. https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 20/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics assumes that all channel members have a common commitment to target consumers at the end of the channel. trusts retailers to emphasize sales of his brand rather than the brand of some other manufacturer Correct! develops different brands or product lines for different channels. expects one of the large retail chains to step up to the responsibilities of being the channel captain. Question 31 2 / 2 pts Independent wholesalers who own the products they resell are called _______. Agent wholesalers Brokers Retail wholesalers Correct! Merchant wholesalers Dealers Question 32 2 / 2 pts https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 21/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics A company may be inclined to use both direct and indirect channels of distribution: Correct! When serving multiple target markets When it wants total control over the marketing mix When suitable channel partners are hard to find When selling to business customers When selling to final customers Question 33 2 / 2 pts Which one of the following is NOT an advantage of direct distribution channels lower costs greater control Correct! suitable intermediaries greater awareness of changes in customer needs internet makes it easier Question 34 2 / 2 pts https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 22/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics Consider both statements. Statement 1. When possible using rail service for the transportation of fast moving goods is typically the best option. Statement 2. Storing and holding goods in the firm's warehouses and distribution channel allows producers to take advantage of economies of scale in production. Only Statement 1 is True Correct! Only Statement 2 is True Both Statements are True Both Statements are False Question 35 2 / 2 pts (True/False) Apple selling its Apple Watch product line through the Best Buy "big box" retail chain is an example of an indirect marketing strategy. Correct! True False Question 36 2 / 2 pts Jane and Henry are planning to open a concierge service and are currently debating who shares the need for their service, are willing and able to buy it, and where these people are located. Jane and Henry are debating: the definiton of customer value and the firm's value proposition https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 23/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics drivers of customer satisfaction Correct! who their target market is product and service design how they intend to charge for the product/service what constitutes an economic exchange Question 37 2 / 2 pts When a product is sold in as many outlets as possible a(n) ___________ distribution strategy being used. selective Correct! intensive extreme exclusive Question 38 2 / 2 pts Which ONE of the following statements is FALSE? Correct! Marketers should always try to maximize the customer service level provided regardless of cost https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 24/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics Physical distribution activities are invisible to most consumers—unless something goes wrong There are trade-offs between costs, the customer service level desired, and sales Information technology can help marketers improve service and cut costs. In countries with inefficient distribution systems, consumers can face shortages of products they need Question 39 2 / 2 pts Fidelity Corp. earned a 6 percent return on investment last year and wants to increase it to 10 percent this year. Which of the following pricing objectives is Fidelity seeking? Correct! Target return Growth in sales Growth in market share Maximize profits Non-price competition Question 40 2 / 2 pts https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 25/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics The breakeven point ("BEP") is the point where: total revenue from the quantity sold equals the average unit cost total revenue from the quantity sold equals the total fixed costs total revenue from the quantity sold equals the total variable costs Correct! total revenue from the quantity sold equals the total costs the quantity at which the incremental revenue from that unit sold exactly equals the incremental cost to produce that unit Question 41 2 / 2 pts Which of the following is a disadvantage of flexible pricing? It allows a salesperson to adjust the price in response to competition It leaves opportunities for sales by not adjusting to customers It allows a salesperson to adjust the price depending on his customer Correct! It can cause discontent among customers who realize they have paid a higher price than others. It results in broadcasting a price that the competition can undercut Question 42 2 / 2 pts https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 26/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics When Apple first introduced its iPhone in the U.S. market, it priced it at $600. Several months later, Apple reduced the price to $400. And several months after that, it reduced the price again to $200. What pricing policy was Apple using in its initial price strategy? Introductory price Correct! Skimming price Cash discount price Penetration price Everyday low price Stepped pricing Question 43 2 / 2 pts (True/False). It's easy to lose money (a loss rather than a profit) using average cost pricing as a mark-up pricing technique if the demand forecast for the product is not highly accurate. Correct! True False Question 44 0 / 2 pts Which statements below are an examples of a promotion decision? Choose all that apply. https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 27/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics Management is deciding whether or not to offer an entire new line of athletic equipment. McDonalds conducts extensive research to determine the most cost effective way to transport their products to North American franchisees orrect Answer Management is determining which media to use to communicate to customers the release of improved product features in the firm's outdoor kitchen product line ou Answered A local florist chooses to locate her new store in a mall instead of a small building across the street from the mall AMC movie theatres decides to permanently charge a lower admission price on Tuesdays to generate more theatre traffic on its lowest volume day of the week. orrect Answer Barnes and Noble recently began airing 30 second television commercials in 12 test cities. Management is considering segmenting their market based on demographics and gender Correct! A supermarket manager decides to set up an end-of-aisle display for 6- pack containers of Gatorade https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 28/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics Question 45 0 / 2 pts Kellogg's Frosted Flakes is a well-known brand that has enjoyed a substantial and loyal following (customers) since 1952. The product has been at the maturity stage for much of its history and product sales keeps pace with the rate of growth of the general population. What kind of ads does Kellogg's typically use to promote this brand Persuasive ads ou Answered Informative ads orrect Answer Reminder ads Pioneering ads Nostaligic ads Question 46 2 / 2 pts Which of these is a type of unpaid, non-personal presentation of ideas, goods, and services? Personal selling Advertising Sales promotion Correct! Publicity Influencer marketing https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 29/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics Question 47 2 / 2 pts During market introduction a company would usually spend a lot on sales promotion, market research, heavy advertising, and manufacturing Correct! True False Question 48 2 / 2 pts Many celebrities are paid to promote products on social media such as Facebook and Twitter. This is an example of: Select all that apply but note there may be only one correct answer. Correct! Advertising Personal selling Sales promotion Publicity Owned media Earned media Question 49 2 / 2 pts Developing a promotional campaign for a new product begins with: https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 30/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics choosing the promotional message setting the budget Correct! determining the promotional objectives selecting alternative media identifying an endorser or influencer to drive social media deciding upon the appeal Question 50 2 / 2 pts Pfizer, Inc. has noticed that in one of its product-markets industry sales have leveled off and competition has been getting tougher. This product- market appears to be in the ____ stage of the product life cycle. Correct! market maturity market introduction market growth sales decline market decline Question 51 2 / 2 pts A marketing manager should realize that the adoption curve concept implies: https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 31/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics the firm's promotion target should always be the innovators. the laggards are cautious, but that they are willing to adopt a new product quickly if advertising gets their attention Correct! using different promotional mixes for different adopter groups the firm's promotion target should always be the opinion leaders none of these is a good answer Question 52 2 / 2 pts Industry profits decline during the market maturity stage due to: declining sales declining sales and declining costs mismanaged budgets Correct! rising promotion costs and increased competitive pressure to offer product at lowest prices new varieties of the original product that fail to meet customer needs Question 53 2 / 2 pts New products that are rapidly adopted by customers (e.g. sales are able to ramp up quickly) generally display the following characteristics except https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 32/33 Downloaded by sfs sfsad ([email protected])  lOMoARcPSD|31683149 5/5/22, 3:08 PM Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytics Correct! Are low cost Have significant comparative advantages over current products Are easy to use and compatible with the values and experiences of the customer Can be easily tried and/or tried with little risk to the customer The advantages of the new product can easily be communicated or observed Quiz Score: 92.5 out of 106 https://gatech.instructure.com/courses/228890/quizzes/315069?module_item_id=2077062 33/33 Downloaded by sfs sfsad ([email protected])