Reference no: EM132230059
1. Lipton Tea is planning to develop a new product using all the stages of New Product Development. It has finished the stage of ‘idea screening’. What will be the next stage right after ‘idea screening’ stage?
A) product concept development B) physical product development C) test marketing
D) business analysis E) marketing strategy and program formulation
2. Yeogiotte wants to know a minimum sales unit to reach a break-even point. Assume that Yeogiotte’s fixed cost is $1,000,000, the variable cost per unit is $1, and the service charge per unit (the unit price Yeogiotte will acquire) is $11. What is the break-even point for Yeogiotte in terms of transaction units?
A) 900,000 B) 500,000 C) 110,000 D) 100,000 E) 90,000
3. Under Armour will set the prices of a variety of sports clothes. Which of the following situations does NOT decrease price sensitivity?
A) perceived necessities B) availability of substitutes C) price decrease of complementary products
D) well-differentiated products E) emergent situations
4. Government officials are often interested in reducing the levels of marketing channel in order to lower price levels while seeking for benefits for consumers and manufacturers (or farmers) simultaneously? What is a primary factor policy makers should NOT forget in restructuring channel levels?
A) channel management B) channel functions C) conflict resolution
D) supply channel E) customer service
5. Assume that Red Bull is considering all sorts of IMC programs. Which of the following programs belongs to push strategy Red Bull may adopt?
A) trade allowance B) adverting C) PR D) coupon for consumers E) X-mas price discount event
6. The organising committee of PyungChang 2018 is evaluating diverse tools of marketing communications by including total cost, cost per contact, efficiency and so on. Which of the following marketing media may generally require the highest cost per contact?
A) mass advertising B) mobile advertising C) sales promotion program D) PR E) personal selling
7. KakaoPay is investigating a variety of sales promotion programs. What are “items offered free or at minimum cost as a bonus for purchasing a product (or for using a service program)”?
A) rebates B) samples C) loyalty programs D) sweepstakes E) premiums
8. What is one of main advantages of a ‘straight commission method’ for sales force compensation?
A) easy to administer B) gives salespeople maximum incentive C) more predictable selling expenses
C) good balance of security and incentive for sales people E) greater control for salespeople
9. Assume that Under Armour is planning to adopt individual product branding. Which of the following is one of the advantages of individual product branding?
A) cost efficient B) positive synergetic effects from other products of the same brand
C) easy to differentiate D) time saving E) easy to develop branding strategy
10. Which of the following does NOT belong to unique advantages a retailer is likely to enjoy with manufacturer name brands?
A) built-in loyalty B) lower inventory cost C) less risk D) more control E) enhanced store image
11. What is the strategic (or marketing) value from consumer responses due to brand knowledge or financial value from the incremental sales amounts and decreased costs?
A) brand loyalty B) brand awareness C) brand equity D) brand royalty E) brand relationship
12. What is one of the most serious weaknesses of corporate social responsible programs?
A) difficult to determine priorities of activities B) lower efficiencies C) increasing CSR-related costs
D) possibly high unemployment E) lack of alignability between social and economic values
13. What is the control type ‘marketing audit’ can be classified as an example?
A) cultural control B) social control C) input control D) process control E) output control
14. Yeogiotte is interested in customer relationship strategies. What is customer relationship strategy in which Yeogiotte can utilize ultimate customer knowledge to provide one-to-one or highly personalized solutions?
A) structural bonding B) enhanced customization C) social bonding
D) financial incentive E) customer loyalty program
15. When are the customers satisfied with its products?
A) They are above ideal expectations. B) They are of high quality.
C) They are above adequate expectations D) Customers believe the products are not important
E) Customers are highly involved in the products.
16. Red Bull intends to initiate customer relationship programs. Among others, Red Bull is interested in the percentage of customers who do not repurchase. What is it?
A) escape rate B) conversion rate C) recovery rate D) attrition rate E) dissatisfaction rate
Explain the following terms briefly using some examples (8 points for each question, about 40-60 words for each question).
17. Types of marketing channel structure and the examples of each type using Under Armour, Lipton Black Tea and Red Bull (if you do not find appropriate examples of channel structure types from Team Project Topics, you may use other examples).
18. Some guidelines for CSV activities you may perform for one brand of your selection among your team project and other team projects (UNDER ARMOUR, Yeogiotte, KaKaoPay, 2018 PyeongChang Olympic Games, Lipton Tea, and Red Bull). Suggest a concrete CSV program (Not a CSR program!) for your selection of the project and explain your guidelines for the CSV program.
19. Identify appropriate stages of Product Life Cycle for all 6 issues of the brands or event of team projects and explain the reasons for your stage selections. You do not need to explain PLC itself.