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MKTG 3310 FINAL FALL || very Flawless.
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According to the elements of value pyramid, a problem with _____ will undermine other benefits. correct answers Quality According to the elements of value pyramid, the minimum number of benefits a product needs to score well on to have a strongly loyal customers is? correct answers 4 ______ c...

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  • August 23, 2024
  • 70
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • according to the elements of value pyramid a prob

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MKTG 3310 FINAL FALL || very Flawless.
According to the elements of value pyramid, a problem with _____ will undermine other
benefits. correct answers Quality

According to the elements of value pyramid, the minimum number of benefits a product needs to
score well on to have a strongly loyal customers is? correct answers 4

______ can be considered a bundle of benefits. correct answers Products

If we were to compare the satisfaction of services to the satisfaction of goods in the ASCI, wed
would likely see that average satisfaction with services is.... correct answers ...the same as
average satisfaction with goods.

The lack of profit in the introductory stage of the product life cycle is very often the result
of____. correct answers The large investment cost in market development.

Credit monitoring is high in intangibility whereas education is high in variability. What does this
mean for the difference in marketing these services? correct answers Universities can more
easily take advantage of economies of scale.

Manjoq Bhargava, the creator of 5 hour energy , happened upon the idea for his product at a
trade show where he decided to replicate a large energy drink in a short-size drink. Which of the
following is TRUE about this example? correct answers Without a good product development
process. Manjoq Bhargava is unlikely to come up with additional innovative and new products.

According to the idea of feature fatigue, if a product has a lot of features then customers will be
________ interested in it before purchase and _________ satisfied after purchase. correct
answers more/ less

Which of the following statements is ACCURATE about the product life cycle? correct answers
Growth is a period of rapid market acceptance and increasing profits.

If a hair salon was trying to reduce variability, which of the following would best accomplish
this goal? correct answers Permit clients to make appointments with pre selected stylist

How can we characterize the role of customers in the new product development process? correct
answers Customers need to be included in the idea generation or a firm is unlikely to be
successful

Based on the elements of the value pyramid, the _______ category is the one that is most likely
to be copied, correct answers Functional

The font used to spell iPhone is a correct answers brand mark

,If a consumer buys Clorox bleach tissue that is the exact same quality as a generic brand only
more expensive, Charmin has created ______ with the consumer. correct answers Brand Equity

The diagram is a visual representation of the _______ for Budweiser and Corona. correct
answers Brand Image

A _______ is defined as a name, term, sign, symbol, or design, or a combination of these, that
identifies the maker or seller of a product or service. correct answers Brand

The willingness to pay more for one brand over another brand is known as? correct answers
Brand preference

Which of the following best represents the idea of customer-based brand equity? correct answers
The extent someone can recall a brand

As exemplified by Donald Trump's brand, brand extensions that all use the original brand will do
what in the face of ongoing problems? correct answers some of the brand extensions will suffer
from the problems

A strong brand image and equity... correct answers ... can change how people respond
physiologically to the brand

Which of following should never be used for a brand image? correct answers Political issues

Compared to brand image, brand awareness is ______. correct answers easier to build

Brand awareness... correct answers ...can create brand equity by itself

The greater the connection between a brand and brand extension, the greater the likelihood that...
correct answers ...success of the brand will help the brand extension

Who usually wins in a price war? correct answers The consumer who buys the product

A _____ strategy is defined as setting an initially high price and using gradual, timed price drops
to make as much profits as possible over time by maximizing how much is made from each sale.
correct answers skimming

Which of the following is TRUE of value-based pricing? correct answers Value Based pricing is
mostly product driven

Retailers such as Costco and Walmart charge a constant, daily low price with few or no
temporary price discounts. This is an example of ________ pricing. correct answers EDLP

What is the purpose of price discrimination? correct answers ...take advantage of the entire
demand curve.

,Airlines use dynamic pricing, which means that customers are charged different amounts for...
correct answers the same product

What should marketing do to a products demand? correct answers make it more elastic to
changes in price

A reference price is a standard in customer's minds of the fair value/price of a product that...
correct answers ... is well formed for every product

If someone uses a pay what you want pricing strategy is worried about people paying to little or
nothing at all and decides to set a small dollar amount for a minimum suggested donation, what
is most likely to happen? The overall amount of revenue will? correct answers ...stay the same
because people do not pay attention to minimum donations

When there is a price decoy, customers are more likely to pick the ____ priced offering, without
a price decoy, customers are more likely to pick the _____ priced offering. correct answers
Higher/Lower

As exemplified by the amusement park experiment using ride photos, what does combining
social responsibility (such as by offering giving 50% of profit to charity) with pay what you want
pricing do? correct answers It increases the amount of profit

Which of the following is NOT a way that personal selling is distinguished from mass marketing
promotions? correct answers Personal selling is interactive, two-way communication

In which step of the selling process does a salesperson learn as much as possible about a
prospective customers before making a sales call? correct answers preparation

Which of the following represents the idea of conceptual fluency? correct answers consumers
ability to process brand meaning

What can sales promotions accomplish? correct answers Sales promotions can create short term
sales and long term engagement

Rihanna is a high performing salesperson for Mind Solve, an enterprise resource planning
software company software company. She receives sales leads from Mind Solve employees who
attend trade shows to identify potential customers in a effort to build long-term profitable
relationships. Taking part in the trade shows is which step of the selling process? correct answers
Prospecting

In the hierarchy of the effects model, advertisers have traditionally measured awareness and
liking because... correct answers ...businesses want those outcomes

Which of the following is a shortcoming of advertising? correct answers It only provides one-
way communication with customers.

, A primary benefit of Nike's Write the Future campaign, which advertised around the 2010 World
Cup using a variety of promotion tools and media, would have been consumer's increased...
correct answers ...conceptual fluency for Nike

The hierarchy of effects model suggest that.... correct answers ... people know and like
something before they buy it

Spending on advertising tends to stay with 1 to 2% of GDP and has done so for over 80 years.
What does this tell us about advertising? correct answers Companies use advertising for
differentiation from competitors even during recessions

Which of the following is most likely to result in greater anxiety for a salesperson? correct
answers Full commission

The best use of IMC would incorporate... correct answers ...a sales promotion perfectly timed
with direct marketing

What is the purpose of CPM as a promotion metric? correct answers It can determine the value
of the impressions the product receives

When advertisers worry that an emotional appeal, such a fear, goes too far, they are concerned
that the appeal will... correct answers ... cause people to misremember the brand

What is CPM? correct answers cost per thousand impressions

As exemplified by the Amazon Echo commercial with Michael B. Jordan, the Wren clothing
commercial, and the do it for Denmark campaign... correct answers Sex appeals can create brand
awarness

Which of the following is TRUE about advertising on the Super Bowl? correct answers From a
CPM perspective, advertising during the super bowl is a good value

Demonstrations, testimonials, and slice-of-life commercials all represent which kind of appeal?
correct answers rational

Carl's Jr. who has high brand awareness, ran a ad for one of its burgers with a sex appeal through
a barely clothed model. Considering either of the two goals of advertising, would this ad be
successful? correct answers Yes the ad would be successful because it would generate attention

Which of the following about reach and frequency is FALSE? correct answers .. reach and
frequency are easiest to asses for newspapers

Advertising on streaming TV is... correct answers ... has a lot of waste like advertising on the
superbowl

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