Exam (elaborations)
Marketing Management 3rd Edition By Greg Marshall 9781259637155 Chapter 1-14 Complete Guide .
- Course
- Institution
- Book
Marketing Management 3rd Edition By Greg Marshall 9781259637155 Chapter 1-14 Complete Guide .
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Marketing Management 3rd Edition By Greg Marshall 9781259637155 Chapter 1-14 Complete Guide .
-
Marketing Management 3rd Edition By Greg Marshall 9781259637155 Chapter 1-14 Complete Guide .
-
Test Bank Marketing Management, 3rd Edition Greg Marshall Mark Johnston
Seller
Follow
phinta004
Reviews received
Content preview
Test Bank For Marketing Management 3rd Edition By GregMarshall 9781259637155 Chapter 1-14 Complete Guide .
Customer intimacy refers to companies that ______. - ANSWER: are willing to tailor their products to
particular customer needs
Product leadership refers to companies that ______. - ANSWER: Pride themselves on quality and
innovation
If a brand has an exclusive image, it would make good sense NOT to ________. - ANSWER: over-
promote it
Sometimes _________ segments can be highly profitable if the marketer pays attention and satisfies
those customers' needs. - ANSWER: Small
Volvo is most known for which of the following? - ANSWER: Safety
When you are writing a positioning statement, if you don't have real differences and cannot see a way
to create them, then you can create a difference based on ________. - ANSWER: image
Which of the following questions characterizes targeting? - ANSWER: Which segments do we want to
be our customers?
If a market segment looks attractive, and serving that segment fits our corporate abilities, then we
should _______. - ANSWER: Go for it!
What do the letters of USP represent? - ANSWER: unique selling proposition
Regarding the phrase "time is money," what type of effect does time seemingly have on money? -
ANSWER: negative
Shannon is struggling to communicate who Company ABC is compared to the competition. Shannon
wants to communicate that Company ABC's brand has the benefits that the target market will value.
Shannon is engaged in what marketing activity? - ANSWER: Positioning
Newlyweds are most likely to spend money on which of the following? - ANSWER: furniture
Some customers are ___________, caring about new developments in their category and seeking out
new products. - ANSWER: early adopters
Company ABC segments customers by gender, age, education, and income. Company ABC's
segmentation is based on _______ factors. - ANSWER: demographics
As segments increase in size, it becomes _______ to satisfy them with the same product. - ANSWER:
more difficult
Some customers are currently using a competitor's brand or aren't even purchasers in a certain
category at all. It is _____ for marketers to identify these people. - ANSWER: difficult
For market sizing, we start with the _______, and break it down into the ______ that are relevant. -
ANSWER: total population, proportions
Regarding targeting, we iterate between our ________ vision of corporate strategy, and a ________
data-informed approach on segment size and profitability. - ANSWER: top-down, bottom-up
, Marketers identify segments best when iterating between two approaches. What are the two
approaches? - ANSWER: managerial, customer
Marketers target certain segments because it's _______ to try to be all things to all people. -
ANSWER: not advisable
A popular tool for segmenting that uses psychographic data, and that is based on the belief that one's
attitudes and value system determine one's orientation to certain products and/or brands is called
______. - ANSWER: Vals
A positioning statement should address your target segment. Anything else you'll say in the
positioning statement will have _______ meaning to customers who are not in that segment. -
ANSWER: no
Which of these companies uses a strategy of customer intimacy? - ANSWER: home depot
Some customers are known for their expertise and involvement in a category and are willing to share
information and give advice, making them likely to generate word of mouth. These people are knows
as market ______. - ANSWER: mavens
__________ means that each customer serves as his or her own segment. This approach sounds
appealing from the customer point of view because the product would be tailored specially for each
person's idiosyncratic desires. - ANSWER: one-to-one
Young adults are most likely to be interested in which of the following? - ANSWER: music technologies
Which of the following is NOT a geographic factor? - ANSWER: stage in household life cycle
Opportunities and threats are usually driven by changes in one of the _____. - ANSWER: 5Cs
There is a rule of thumb that says it costs ______ times more to acquire a new customer compared to
maintaining a loyal one. - ANSWER: 6
When it comes to market sizing, things tend to be a bit _______ B2B sellers compared to B2C sellers. -
ANSWER: easier
Which of the following is a psychological factor? - ANSWER: attitude
Which of the following is NOT one of the 5 Cs? - ANSWER: comprhension
Potential profitability is a function of all of the following EXCEPT: - ANSWER: current market price
Corporate strengths should be assessed relative to a firm's competitors in order to understand
customers and their _______. - ANSWER: purchase choices
Brands depicted as points in the map close together are those perceived as _______. - ANSWER:
similar
Determining which segments to target depends on an interplay between ______ issues. - ANSWER:
quantitative and strategic
If a company promotes broadly and heavily, they are probably looking to ______. - ANSWER: move a
lot of merchandise
Entrepreneurs may need to approximate Prizm and Vals data, because they are ______. - ANSWER:
expensive
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller phinta004. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76462 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now