Marketing Management

481. If a company were seeking to design a channel system, the first step would be to:

  1. Analyse consumer-service needs
  2. Set the channel objective and constraints
  3. Analyse marketing intermediaries
  4. Factor in (or out) foreign marketing middlemen
Correct answer: (A)
Analyse consumer-service needs

482. To say that a product has a life cycle is to assert all of the following EXCEPT ______________.

  1. products have a limited life
  2. product sales pass through distinct stages, each posing different challenges, opportunities, and problems to the seller
  3. products all basically exhibit cycle-recycle growth patterns
  4. profits rise and fall at different stages of the product life cycle
  5. products require different marketing, financial, manufacturing, purchasing, and human resource strategies in each life-cycle stage
Correct answer: (C)
products all basically exhibit cycle-recycle growth patterns

483. The premise of ______________ models is that the power of a brand lies in what customers have seen, read, learned, thought, and felt about the brand over time.

  1. product-based brand equity
  2. service-based brand equity
  3. functional-based brand equity
  4. mission-driven brand equity
  5. customer-based brand equity
Correct answer: (E)
customer-based brand equity

484. When a marketer expresses his or her vision of what the brand must be and do for consumers, they are expressing what is called ______________.

  1. a brand promise
  2. a brand mission
  3. brand equity
  4. a brand position
  5. a brand concept
Correct answer: (A)
a brand promise

485. ______________ communicates to the market the company's intended value positioning of its product or brand.

  1. Packaging
  2. Price
  3. Place
  4. Promotion
  5. Product features
Correct answer: (B)
Price

486. The concept of the lowest ______________ means that a seller can charge a higher price if they can convince the customers that price is only a small part of the total cost of obtaining, operating, and servicing the product over its lifetime.

  1. prestige pricing
  2. total cost of ownership
  3. convenience pricing
  4. key price points
  5. none of the above
Correct answer: (B)
total cost of ownership

487. Consumer use price less to judge the quality of a product when they ______________.

  1. Lack Information
  2. Have experience with the product
  3. Are shopping for a specialty item
  4. Cannot physically examine the product
Correct answer: (B)
Have experience with the product

488. Cash and carry wholesalers and drop shippers falls in the category of:

  1. Merchant wholesalers
  2. Limited service wholesalers
  3. Full-service wholesalers
  4. Brokers and agents
Correct answer: (B)
Limited service wholesalers

489. Under what circumstances might it be wise for a company to do little or no test marketing?

  1. When the product has no substitutes and is new in its category
  2. When management is not sure of the marketing program
  3. When management is not sure about the product
  4. When the costs of developing and introducing the product are low
Correct answer: (D)
When the costs of developing and introducing the product are low

490. The challenge for marketers in building a strong brand is ______________.

  1. ensuring that customers have the right type of experiences with products and their marketing programs to create the desired brand knowledge
  2. pricing the product at a point that maximizes sales volumes
  3. minimizing the number of people to whom the product is targeted in order to provide consumers with a personalized experience
  4. retain as many customers as possible in order to minimize the costs and pressure associated with continually generating new leads
  5. maximizing customer value
Correct answer: (A)
ensuring that customers have the right type of experiences with products and their marketing programs to create the desired brand knowledge
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