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