Reference no: EM13919409

Question 1: Which campaign example BEST illustrates a focus on capturing "share of customer"?

• Starbucks rolls out a mobile phone app that works like a frequent-purchase rewards card but captures data to measure Customer Lifetime Value.
• Trader Joe's mails "Trader Joe's Fearless Flyer," an advertising circular, to 350,000 San Gabriel
• Valley households.
• Mars Candy uses newspaper advertising and in-store events to promote a new ice cream novelty line that extends the well-known candy brand.
• Post Cereal extends its Honey Bunches of Oats product line with Fruit Blends, using coupons on the original product to encourage consumers to try the new line. (The answer can be found in Section 2.3: "Marketing Process Step 3: Campaign Development" in Principles of Marketing)

Question 1: Which campaign example BEST illustrates a focus on capturing "share of customer"?

• Bring employees from all locations together for training.
• Build loyalty by encouraging adapting offerings to customers' tastes.
• Use technology to entertain customers so variability of service is less apparent.
• Promote a brand image that makes variability part of the service's persona. (The answer can be found in Section 3.4: "When the Product is a Pure Service" in Principles of Marketing)

Question 3: Which answer BEST conveys the difference between social marketing and cause-related marketing?

• Social marketing refers to commercial, community, or cause ideas, while cause-related marketing refers to environmental, social, or public health ideas.
• Cause-related marketing generates results for a cause or social concern, while social marketing ties a company's brand to a cause or concern.
• Cause-related marketing refers to companies' use of tie-ins with causes, while social marketing refers to the media channels used to deliver that message.
• Social marketing generates results for a cause or social concern, while cause-related marketing ties a company's brand to a cause or concern for strategic purposes. (The answer can be found in Section 3.5: "When the Product is an Idea" in Principles of Marketing)

Question 4: The example of quinoa in this chapter was used to illustrate an aspect of the globalization paradox. Which statement BEST summarizes the point made by that example?

• Consumers must be responsible to a triple bottom line of economic value, social progress, and environmental health.
• Technology reduces borders and barriers to entry, thereby lowering competition.
• Globalization is creating a more uniform culture but at the same time stimulates interest in a more diverse culture.
• Globalization brings new opportunities for profit, but those opportunities may be offset by potential costs to society. (The answer can be found in Section 1.5: "The Marketing 3.0 Landscape" in Principles of Marketing)

Question 5: What goal does the "Place" strategy as part of the Marketing Mix aim to accomplish?

• Delivering service utility via form and function at a specific price.
• Defining the range within which an offering's prices must be placed deliver value.
• Getting the right goods to the right place and in the right quantity.
• Undertaking environmental marketing to create demand, meeting customers where they are. (The answer can be found in Section 1.4: "Customer Criteria for Determining Value" in Principles of Marketing)

Question 6: A lawn and garden company is preparing forecasts of consumer demand and manufacturing costs for several new product concepts. Which phase of the New Product Development process does this example illustrate?

• Idea Generation
• Screening
• Evaluation
• Development (The answer can be found in Section 3.2: "Managing Product Life Cycles" in Principles of Marketing)

Question 7: Which of the Four Utilities of Customer Value is a brewing company controlling when it emphasizes in its advertising that no  preservatives have been used in manufacturing the brews?

• Time
• Ease of Possession
• Form
• Place (The answer can be found in Section 1.5: "The Marketing 3.0 Landscape" in Principles of Marketing)

Question 8: A shopper's grocery cart contains the following group of products: baby powder, wet wipes, and diapers. What product classification does this example represent?

• Substitute products
• Usage group
• Process materials
• Shopping products (The answer can be found in Section 3.1: "Designing Products for Customer Value" in Principles of Marketing)

Question 9: Which term BEST describes a distinguishing attribute that products used for a business (not end-user consumer products) have in common?

• Usage groups
• Process materials
• Derived demand
• Post-sale support (The answer can be found in Section 3.1: "Designing Products for Customer Value" in Principles of Marketing)

Question 10: What three component parts are essential to a value proposition?

• A target market segment, a message channel strategy, and a compelling call to action.
• Creating an identity, mirroring the minds of the target market, and differentiating one's offering from competitors' offers.
• A promised benefit, unclaimed by competitors, persuasive enough to compel individuals to act.
• A compelling illustration of the relationship between value given, value received in exchange, and fairness. (The answer can be found in Section 2.2; "Marketing Process Step 2: Marketing Strategy" in Principles of Marketing)