Introduction to Marketing

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Value is the customer's perception of all of the benefits of a product or service weighed against all the costs of acquiring and consuming it. The mileage of a car would be considered as a(n):| | | A)| functional benefit.|

| | B)| experiential benefit.|
| | C)| social benefit.|
| | D)| psychological benefit.|
| | E)| internal benefit.|
| | | | |
Feedback: Difficulty: Hard
LO: 01-01
Topic: The Role of Marketing
Bloom's: Apply
AACSB: Reflective Thinking
Page: 07
Value is the customer's perception of all of the benefits of a product or service weighed against all the costs of acquiring and consuming it. Benefits can be functional (the performance of the product), experiential (what it feels like to use the product), and/or psychological (feelings such as self-esteem or status that result from owning a particular brand).| |

How did integrated marketing communications (IMC) revolutionize the role of marketing?| | | A)| It shifted marketplace power from retailers to manufacturers.| | | B)| It led to increasing dependence on the advertising element of the promotion mix.| | | C)| It led to the rapid growth and development of database marketing.| | | D)| It created a lessening need for advertising agencies to be accountable for their actions.| | | E)| It shifted marketing expenditure from non-traditional to traditional media advertising.| | | | | |

Feedback: Difficulty: Easy
LO: 01-03
Topic: Reasons for the Growing Importance of IMC
Bloom's: Remember
AACSB: Analytic
Page: 14
Major characteristics of this marketing revolution include: the growth and development of database marketing. Many companies now have extensive databases containing customer names; geographic, demographic, and psychographic profiles, purchase patterns; media preferences, credit and other financial information; and other relevant characteristics.| |

Which of the following statements is true about branding?|
| | A)| Organizations should not provide the same level of promotion to brands during recessions as they do during times of prosperity.| | | B)| A well-known brand has a competitive advantage in the market.| | | C)| Companies trying to sell their products internationally do not benefit from having a strong brand name.| | | D)| The appeal of recognized brand names is declining.| | | E)| Many organizations view the process of creating and maintaining a strong brand as a liability.| | | | | |

Feedback: Difficulty: Medium
LO: 01-03
Topic: The Role of IMC in Branding
Bloom's: Understand
AACSB: Analytic
Page: 15
With more and more products and services competing for consideration by customers who have less and less time to make choices, well-known brands have a major competitive advantage in today's marketplace.| |

____ advertising would focus on creating a demand for MilkBone, a brand of dog biscuits, among consumers.| | | A)| Selective-demand|
| | B)| Direct|
| | C)| Trade|
| | D)| Primary-demand|
| | E)| Secondary-demand|
| | | | |
Feedback: Difficulty: Hard
LO: 01-04
Topic: Advertising
Bloom's: Analyze
AACSB: Reflective Thinking
Page: 20
Refer: Figure 1-4
Primary-demand advertising is designed to stimulate demand for the general product class or entire industry. Selective-demand advertising focuses on creating demand for a specific company's brands.| |

The ad for Gills onions in Fresh Cut, a publication for people in the grocery...
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