What would the data need to look like for me to make this decision?

Answer the following questions by choosing the BEST answer.  Place the letter corresponding to your choice in the space beside the question numbers on the Answer Sheet.
 

  1. The basic reason marketing research is done is because:
  2. Interesting data may be found
  3. The desire to provide basic knowledge
  4. The need for managers to make a decision
    1. click here for more information on this paper
  5. Research is always needed

 

  1. If a manager begins a research project by asking “What would the data need to look like for me to make this decision?” they would be engaging in:
  2. Traditional marketing research
  3. Backward marketing research
  4. Knowledge based research
  5. Qualitative research.

 

  1. What the text quotes as a “tidal wave of brand democratization” has led to the need for marketers to rethink how they communicate with markets to spread brand information. What has been the driving forces behind this revolution?
  2. The Internet
  3. Digital technologies
  4. Reality TV programming
  5. All of the above are contributing factors

 

  1. When FedEx first came on the scene, it offered a whole new way for both businesses and later consumers to quickly and economically ship small packages. It, in essence, launched a new industry.  Which of these best describes FedEx at that time?
  2. It followed a Blue Ocean strategy
  3. It followed a Red Ocean strategy
  4. It followed a Differentiation strategy
  5. It followed a Low-Cost strategy

 

  1. At the intersection of Main Street and Palm Drive there are three service stations. When one lowers price the other two follow suit.  If one advertises a low price on soft drinks so do the others.  What kind of situation describes these three competitors?
  2. All follow a Blue Ocean strategy
  3. All follow a Red Ocean strategy
  4. All follow a Differentiation strategy
  5. All follow a Low-Cost strategy
  1. click here for more information on this paper

 
 

  1. Apple is known for introducing user friendly electronic devices to the market.  Their iPod, iPad and iPhones are all examples.  Although Apple did not invent any of those products, they provided designs and features that took those products to make Apple the market leader in each category.  Apple would be an example of a:
  2. Market Follower
  3. Market Challenger
  4. Market Driven company
  5. Market Driving company

 

  1. All companies face competition in the marketplace even if only indirect.  Which of the following statements is true?
  2. Once a company becomes a market driver, they will always be a driver
  3. Once a company becomes market driven, they will always be market driven
  4. A company may shift between being driven and being a market drives
  5. All of the above are true

 

  1. Crowd sourcing is an activity where a firm might turn to others – such as consumers – to suggest ideas.  Frito-Lay, for instance, has been conducting contests for budding film makers to submit commercials for Doritos.  One or two of these are selected for debut in the Super Bowl.  Which best describes Frito-Lay’s approach to customers?
  2. Resist
  3. Enable
  4. Discourage
  5. Encourage

 

  1. More companies are using ethnography.  In ethnographical studies, a researcher observes behavior in its “natural environment.”  For example, a cookware company went to people’s homes and observed them making dinner for their families.  Based on this feedback, the company designed a new line of cookware that fit the needs of the consumer.  Which category would best describe the cookware company with regard to consumers?
  2. Follower
  3. Shaper
  4. Interact
  5. Isolate

 

  1. Wal-Mart has built arguably the most efficient distribution system in the retailing world.  Through the employment of various initiatives, such as Vendor Managed Inventory, RFID and distribution center layouts with cross-docking.  The low cost (relative to other retailers) distribution system would best be called a:
  2. Business model
  3. Core Competency
  4. A differentiation strategy
  5. A positioning strategy

 

  1. The chief marketing officer at Harley-Davidson Motorcycles once said that Harley riders are the brand.   In this case, Harley’s brand =:
  2. Identity
  3. Trustmark
  4. Experience
  5. Story

 

  1. Speaking of Harley-Davidson, rider groups (called HOGS) actively recruit people to become members and encourage them to ride Harleys.  HOG members become, for Harley-Davidson:
  2. Brand knowledge experts
  3. Brand evangelists
  4. Brand identifiers
  5. Brand fantasizers

 

  1. Traditional bookstores are dwindling in number.  Part of this is due to the increased use of e-books where people may download and read books from virtual companies such as Amazon (Kindle) or Barnes & Noble (Nook).  The disappearance of the traditional bookstore is an example of:
  2. Disinternment
  3. Obsolescence
  4. Disinterest
  5. Disintermediation
    1. click here for more information on this paper

 

  1. Technology has disrupted distribution channels through:
  2. The death of distance
  3. Homogenization of time
  4. Irrelevance of location
  5. All of the above

 

  1. A sales organization that moves quickly in recognizing opportunity and acting on it would be a(n) __________ sales force:
  2. Expeditionary
  3. Creative
  4. Strategic
  5. Collaborative

 

  1. Frances Greene is the sales manager of a medium sized company.  She is committed to the idea that the sales force is more than a group of individuals who sell products to existing and potential customers,  She believes that the sales force is instrumental is ensuring that the company achieve its objectives and can help guide the company’s direction.  Frances thinks of the sales force as one that is ____________ in nature:
  2. Expeditionary
  3. Creative
  4. Strategic
  5. Collaborative
  6. The text authors suggest that sales people should see themselves as:
  7. Salespeople
  8. Entrepreneurs
  9. Customer driven
  10. Technical experts

 

  1. Brand loyalty means not just buying the same product or shopping at the same store, it also involves a __________ component:
  2. Perceptual
  3. Psychographical
  4. Motivational
  5. Attitudinal

 

  1. The total amount a customer will spend on a given product category over a strategically meaningful time period is called:
  2. Customer Lifetime Value
  3. Customer Worthiness
  4. Customer Equity
  5. Customer Profitability Analysis

 

  1. Starbuck’s initiatives include purchasing 100 percent of all coffee through ethical sourcing practices (Fair Trade) and investing in a better future for farmers and their communities by nearly doubling funding to organizations that provide farmer loans.  This mostly reflects:
  2. Moral idealism
  3. Utilitarianism
  4. Social responsibility
  5. Business culMKT 431 Final Exam

 
 
 
 
 
Answer the following questions by choosing the BEST answer.  Place the letter corresponding to your choice in the space beside the question numbers on the Answer Sheet.  The Answer Sheet is due by Monday at 11:59 MST.
 

  1. The basic reason marketing research is done is because:
  2. Interesting data may be found
  3. The desire to provide basic knowledge
  4. The need for managers to make a decision
  5. Research is always needed

 

  1. If a manager begins a research project by asking “What would the data need to look like for me to make this decision?” they would be engaging in:
  2. Traditional marketing research
  3. Backward marketing research
  4. Knowledge based research
  5. Qualitative research.

 

  1. What the text quotes as a “tidal wave of brand democratization” has led to the need for marketers to rethink how they communicate with markets to spread brand information.  What has been the driving forces behind this revolution?
  2. The Internet
  3. Digital technologies
  4. Reality TV programming
  5. All of the above are contributing factors

 

  1. When FedEx first came on the scene, it offered a whole new way for both businesses and later consumers to quickly and economically ship small packages.  It, in essence, launched a new industry.  Which of these best describes FedEx at that time?
  2. It followed a Blue Ocean strategy
  3. It followed a Red Ocean strategy
  4. It followed a Differentiation  strategy
  5. It followed a Low-Cost strategy

 

  1. At the intersection of Main Street and Palm Drive there are three service stations.  When one lowers price the other two follow suit.  If one advertises a low price on soft drinks so do the others.  What kind of situation describes these three competitors?
  2. All follow a Blue Ocean strategy
  3. All follow a Red Ocean strategy
  4. All follow a Differentiation  strategy
  5. All follow a Low-Cost strategy

 

  1. click here for more information on this paper

 

  1. Apple is known for introducing user friendly electronic devices to the market.  Their iPod, iPad and iPhones are all examples.  Although Apple did not invent any of those products, they provided designs and features that took those products to make Apple the market leader in each category.  Apple would be an example of a:
  2. Market Follower
  3. Market Challenger
  4. Market Driven company
  5. Market Driving company

 

  1. All companies face competition in the marketplace even if only indirect.  Which of the following statements is true?
  2. Once a company becomes a market driver, they will always be a driver
  3. Once a company becomes market driven, they will always be market driven
  4. A company may shift between being driven and being a market drives
  5. All of the above are true

 

  1. Crowd sourcing is an activity where a firm might turn to others – such as consumers – to suggest ideas.  Frito-Lay, for instance, has been conducting contests for budding film makers to submit commercials for Doritos.  One or two of these are selected for debut in the Super Bowl.  Which best describes Frito-Lay’s approach to customers?
  2. Resist
  3. Enable
  4. Discourage
  5. Encourage

 

  1. More companies are using ethnography.  In ethnographical studies, a researcher observes behavior in its “natural environment.”  For example, a cookware company went to people’s homes and observed them making dinner for their families.  Based on this feedback, the company designed a new line of cookware that fit the needs of the consumer.  Which category would best describe the cookware company with regard to consumers?
  2. Follower
  3. Shaper
  4. Interact
  5. Isolate

 

  1. Wal-Mart has built arguably the most efficient distribution system in the retailing world.  Through the employment of various initiatives, such as Vendor Managed Inventory, RFID and distribution center layouts with cross-docking.  The low cost (relative to other retailers) distribution system would best be called a:
  2. Business model
  3. Core Competency
  4. A differentiation strategy
  5. A positioning strategy

 

  1. The chief marketing officer at Harley-Davidson Motorcycles once said that Harley riders are the brand.   In this case, Harley’s brand =:
  2. Identity
  3. Trustmark
  4. Experience
  5. Story

 

  1. Speaking of Harley-Davidson, rider groups (called HOGS) actively recruit people to become members and encourage them to ride Harleys.  HOG members become, for Harley-Davidson:
  2. Brand knowledge experts
  3. Brand evangelists
  4. Brand identifiers
  5. Brand fantasizers

 

  1. Traditional bookstores are dwindling in number.  Part of this is due to the increased use of e-books where people may download and read books from virtual companies such as Amazon (Kindle) or Barnes & Noble (Nook).  The disappearance of the traditional bookstore is an example of:
  2. Disinternment
  3. Obsolescence
  4. Disinterest
  5. Disintermediation

 

  1. Technology has disrupted distribution channels through:
  2. The death of distance
  3. Homogenization of time
  4. Irrelevance of location
  5. All of the above

 

  1. A sales organization that moves quickly in recognizing opportunity and acting on it would be a(n) __________ sales force:
  2. Expeditionary
  3. Creative
  4. Strategic
  5. Collaborative

 

  1. Frances Greene is the sales manager of a medium sized company.  She is committed to the idea that the sales force is more than a group of individuals who sell products to existing and potential customers,  She believes that the sales force is instrumental is ensuring that the company achieve its objectives and can help guide the company’s direction.  Frances thinks of the sales force as one that is ____________ in nature:
  2. Expeditionary
  3. Creative
  4. Strategic
  5. Collaborative
  6. The text authors suggest that sales people should see themselves as:
  7. Salespeople
  8. Entrepreneurs
  9. Customer driven
  10. Technical experts

 

  1. Brand loyalty means not just buying the same product or shopping at the same store, it also involves a __________ component:
  2. Perceptual
  3. Psychographical
  4. Motivational
  5. Attitudinal

 

  1. click here for more information on this paper
  1. The total amount a customer will spend on a given product category over a strategically meaningful time period is called:
  2. Customer Lifetime Value
  3. Customer Worthiness
  4. Customer Equity
  5. Customer Profitability Analysis

 

  1. Starbuck’s initiatives include purchasing 100 percent of all coffee through ethical sourcing practices (Fair Trade) and investing in a better future for farmers and their communities by nearly doubling funding to organizations that provide farmer loans.  This mostly reflects:
  2. Moral idealism
  3. Utilitarianism
  4. Social responsibility
  5. Business culture
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