Marketing and B. Market Development

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Chapter 2

Student: ______________________Xia Sheng_____________________________________

 Fernando was thrilled to find out that his company had just decided to invest a great deal of money in the product he was managing. He knows that even with its recent high rate of growth and the fact that it dominates its market, he would need more money to establish it firmly. Using the BCG portfolio analysis, his product would be classified as a(n):  A. star.

B. cash cow.
C. question mark.
D. dog.
E. Anchor

2. Adrienne decides to add new sales representatives and increase advertising in her existing market for her current line of security systems. Adrienne is pursuing a __________ growth strategy.  A. segment development

B. market development
C. market penetration
D. diversification
E. product development\
 

3. Lionel is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to:  A. develop a business mission statement.
B. choose the best target markets.
C. reposition existing segments.
D. divide the marketplace into subgroups.
E. conduct a SWOT analysis.

4. Laura is reviewing sales data after a recent in-store promotion of her company's diet products. The data show success in some stores and limited response in others. Laura will probably next review the company's:  A. financial statements, to investigate current and past profits. B. brand awareness study, to assess national levels of awareness. C. implementation programs, to see if the promotion was handled consistently in the different stores. D. results for other product lines, to see how important diet products are to the firm. E. analysis of national diet trends, to predict future sales levels.

5. If a firm wants to develop a sustainable competitive advantage, it should:  A. begin an aggressive campaign to buy up competitors.
B. copy the innovative features of other firms that are attractive to customers. C. examine its operations and customer relations to identify significant things competitors cannot easily copy. D. increase its marketing budget so that it outspends its competitors. E. arrange to meet with competitors to discuss how to avoid direct competition.

6. One example of a customer loyalty program is: 
A. a "frequent diner" card at a restaurant, offering a free appetizer for every $100 in food purchases. B. a quantity discount offered for large purchases at an office supply store. C. all of these.

D. an "everyday low price" policy on all products at a grocery store. E. an extensive customer service training program for new employees at a hair salon.

7. Firms achieve ___________ through efficient procedures and excellent supply chain management.  A. customer excellence
B. locational excellence
C. customer loyalty
D. value-based pricing
E. operational excellence

8. LeBron James, Alex Rodriguez, and other athletes are paid huge sums of money by companies for celebrity endorsements. If, endorsements by these athletes create a clear understanding among consumers of the companies' products, they can help with the firm's ________________ strategy.  A. product excellence

B. targeting
C. positioning
D. segmentation
E. customer excellence

9. In value-based marketing, promotion communicates the: 
A. targeted solution.
B. operational excellence strategy.
C. value proposition.
D. relative market value.
E. target market definition.

10. Starbucks has developed a number of metrics beyond purely financial metrics. Knowing the importance of perceptions and knowing the importance of developing ways to demonstrate its activity, Starbucks tries to find clear ways to:  A. build brand equity.

B. demonstrate its sense of corporate social responsibility. C. address concerns of opponents at local, regional, national and global levels. D. help consumers to feel better about their purchases.

E. All of these

11. A competitive advantage based on location is often...
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