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EXAM 2 & 3 McMillan COB 300D with 100% correct answers

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  • COB 300D

EXAM 2 & 3 McMillan COB 300D with 100% correct answers

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  • September 11, 2024
  • 28
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • COB 300D
  • COB 300D
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EXAM 2 & 3 McMillan COB 300D

Utilizing a single marketing mix to reach a uniform (everyone in the market is viewed as the same) target
market defines what targeting strategy?

-Undifferentiated

-Behavioral

-Differentiated

-Psychographic

-Concentrated - correct answer ✔✔Undifferentiated



Where might the term 'evoked set' or "consideration set' come into use within the field of marketing?

-During construction of a BCG (Boston Consulting Group) matrix

-During the consumer buying decision process

-During consideration of using a diversification strategy

-When using Maslow's hierarchy of needs

-When using the time ERA's to define a product approach - correct answer ✔✔During the consumer
buying decision process



If Tovota has fixed costs of $ 100.000.000 for the manufacture of its Prius and sells the car for $20,000
with 10% of the sales price taken away by the independent dealer, what is the breakeven point for the
Toyota Prius?

-15 million dollars

-5,555 cars

-55 million dollars

-5.556 cars

-5.555.55 cars - correct answer ✔✔-5.555.55 cars



What percentage market share seems reasonable and most likely for a company to have within their
market? (which answer is the most realistic market share shown)

,-Apple has 90 % of the global smartphone market

-Honda has 70% of the luxury car market worldwide

-Ford has 18% of the domestic vehicle market

-Facebook has 99 % of the global social media market

-Kellogg's has 2 % of the breakfast cereal market - correct answer ✔✔-Ford has 18% of the domestic
vehicle market



Which branding strategy would involve hiding the identity of the manufacturer which is actually making
the product being branded by a retailer or wholesaler.

-Brand extension

-Mixed branding

-Co-branding

-Family branding

-Multiproduct branding - correct answer ✔✔-Mixed branding



What is the forth stage of the product adoption process?

-Late Majority

-Trial

-Evaluation

-Free Samples

-Interest - correct answer ✔✔-Trial



Which of the following is the best example of a nondurable good?

-Laundry detergent

-Automobile

-Shoes

-Laser Surgery

-iPad - correct answer ✔✔-Laundry detergent

, A basic test of the usefulness of the market segmentation process is whether it leads to tangible
marketing actions that can

-stand up to ethical scrutiny

-create a new product

-create innovation

-create a market

-increase sales and profitability for the company using it - correct answer ✔✔-increase sales and
profitability for the company using it



When considering global business, which is considered as a licensing agreement?

-Boeing makes parts for other aircraft companies in the USA.

-Toyota has manufacturing facilities that they own in Kentucky by which they manufacture vehicles.

-Exxon and BP join together to form another company which will run seismic data in the search for oil.

-Tide is a brand of Proctor and Gamble or P&G via license.

-Yoplait yogurt grants a USA manufacturer the right to produce their yogurt in the USA. - correct answer
✔✔-Yoplait yogurt grants a USA manufacturer the right to produce their yogurt in the USA.



To be identified as a market segment, its members must

-have common needs and respond similarly to market actions

-have different needs and have potential for future growth

-have potential for future growth and have potential for increased profit or ROl

-represent a large share of the entire market and have critical buying power.

-have different needs and respond similarly to market actions - correct answer ✔✔-have common needs
and respond similarly to market actions



Which branding strategy is an example of Family branding?

-Duracell makes batteries for Costco under the Kirkland name

-Kroger uses its Kroger name on all of its products

-Family branding uses brand names, brand marks and brand equity on the products

-Sunbeam puts their company name on all of their products

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