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Archer Daniels Midland Co. is the world’s largest cocoa-bean processor. It buys cocoa beans and converts them into cocoa powder and cocoa butter, which it then sells to companies like Hershey’s that manufacture consumer products that contain chocolate. In this scenario, ADM is in a(n) _____.
MN Corp., a retailer, wished to open a new store in a suburb. In order to obtain data relating to consumer behavior, competition, and other relevant information, the company employed Am Research, a market research firm. In this scenario, the data collected and presented by Am Research would be known as _____.
Cuppa, a coffee-mug manufacturer, invests money in procuring equipment to produce custom prints on coffee mugs. Cuppa also releases a new line of eco-friendly porcelain mugs priced at $20 each. Cuppa spends $24,000 per month on its production, including employees' salaries. The cost of producing and packaging each mug is $12. Cuppa has a target profit of $8,000 a month. How many mugs should Cuppa sell to gain this profit?
Analyzing data and developing insights from this analysis would take place before the _____ step of the market research process.
_____ needs pertain to the personal gratification consumers associate with a product and/or service.
BlueGreen Tech is conducting market research to discover potential customers who might be interested in its products. The company will also survey its existing customers to identify ways of selling them additional products from its product line. At which stage of the customer relationship management process is BlueGreen?
Hugo, impressed by a popular NFL star's frohawk hairstyle, visits Angelo's Hair Salon to get the same hairstyle. The stylist at Angelo's is very good and gives Hugo the exact style that he wants. Having received good service, Hugo visits Angelo's three months later to get a mohawk hairstyle. This time, Hugo is not satisfied with the end result and decides not to come back to Angelo's again. Which of following aspects of a service is illustrated in this scenario?
_____ risks are those risks associated with the way people will feel if the product or service does not convey the right image.
Which of the following is part of the final step in the ethical decision-making process?
Mars Corp., a New York-based soft drink manufacturer, decides to expand its operations to London and Delhi. However, the company decides to sell its existing soft drinks with the same packaging and flavors in these markets. In this scenario, the company is using a _____ strategy.
Kreme, a biscuit manufacturer, offers retailers a 20% discount on its latest product, Coco-Bite. The discount offer comes with a rider that retailers have to feature the product in their promotional material. Kreme is offering a(n) _____ to its retailers.
Patisserrita is a family-owned chain of bakeries in the Northtown region. The chain sells luxury desserts and pastries that are priced at a permium. Bianca, one of the owners of the business, is considering expanding the business using a market penetration strategy. Which of the following will she do?
Timer, a U.S. based watchmaker, recently entered into a partnership agreement with an Australian firm to make watches. According to the terms of the agreement the firms agreed to pool resources and share losses. What type of partnership agreement does this situation most likely represent?
_____ retailers offer an inconsistent assortment of brand name merchandise at a significant discount from the manufacturer’s suggested retail price (MSRP).
Mustard, a manufacturer of audio systems, is the market leader in the audio equipment segment in the U.S., a fast-growth market. Its flagship product, Zeus, a high-end audio entertainment system, holds 30% of the market share in its segment, barely a year after its release. Zeus can be classified as a _____ in the BCG matrix.
Retailers whose target audience is Baby Boomers should plan their offerings keeping in mind that:
Which of the following enables aligning personal goals along corporate goals?
An inventory-management system in which the supplier determines the amount of product a retailer needs and automatically delivers the appropriate items is referred to as _____.
Filz, a consumer electronics manufacturer, wants to produce a new line of eco-friendly ACs to tap into the segment of customers who make environmentally conscious decisions. It asks the R&D team to come up with a suitable technology to facilitate the production of eco-friendly ACs. Which of the following stages of product development has be exemplified in this scenario?
_____ appeal aims to satisfy consumers’ sensitive desires rather than their utilitarian needs.
A Macy's manager designs the casual clothing department such that one of Macy's private label pairs of jeans, priced at $24.99, is positioned next to a national brand of jeans, such as Levis, priced at $39.99. What is the manager attempting to accomplish?
What is the revenue share of requirements of a brand that sells $80,000 worth of its product and whose customers buy $200,000 worth of products in the same product category?
Sunshine Foods Inc., an international fast-food chain, allows JP Inc. to use its logo and operate a retail outlet in the name of Sunshine Foods for a specified fee. Sunshine Foods also provides JP Inc. with assistance in relocating and establishing the outlet. This type of arrangement is known as _____.
If an endorser is represented as an actual user of the marketer’s product, the endorsement can only be used as long as:
Jim was born after World War II in the year 1949 in the U.S. If most of his friends were born between 1957 and 1950, Jim and his friends would be considered part of _____.
_____ uses a variety of statistical analysis tools to uncover previously unknown patterns in the data or relationships among variables.
Romelia, an online cosmetics store, relies on traffic generated by Internet searches to sell its products. Romelia was one of the very first online stores to sell cosmetics and hence had the advantage of showing up on the first page of a search for ""Online cosmetics U.S."" An increase in the number of online retailers has pushed Romelia's website to the fourth search page. Instead of arriving at a website and then looking for a product, customers search for a product directly on an Internet search engine. What should Romelia change to improve the hits on its website?
Lilli visits her hair stylist to get a haircut. Lilli wants to know how she would look after the haircut. Unlike a dress, Lilli cannot try a haircut before she gets it. Lilli's inability to get a partial haircut or a preview of it illustrates the _____ of a haircut.
What do retail outlets hope to achieve from using promotions in conjunction with markdowns?
Resolve surveys 20,000 households that own a TV. The results of this survey indicate that an advertisement for a retail store was watched 360,000 times during a period of three days. The same advertisement was watched at least once by 30,000 people. What is the average frequency of the advertisement?
The _____ component of attitude reflects a person’s belief system, or what we believe to be true.
LockIt, a manufacturer of electronic safes, accounts for 5% of the safes sold in the U.S. LockIt's current business strategy is aimed at selling better-quality products at higher prices than competitors. The higher prices make LockIt one of the leaders in terms of revenue earned. Having satisfied initial objectives of earning a certain ROI, LockIt sets a target of accounting for 25% of the units sold during the next financial year. To further this goal, LockIt introduces a line of lower-priced safes that are priced below similar competing products. LockIt's new pricing strategy is _____.
Ryan's Bikes, a motorcycle company, designs and builds custom bikes. The company customizes each vehicle according to the taste, specification and individual requirements of the customer. In this scenario, Ryan's is using a _____ strategy.
In Ravonia, the telecom sector is dominated by four major service providers: Flank, Zelno, Tuhaz, and Klock. The service providers determine call rates and broadband rates using a collective strategy. They maintain uniform pricing and compete mainly on quality and service. Flank, Zelno, Tuhaz, and Klock are using a _____ strategy.
FEL Pharmaceuticals, a new company, decides to incorporate features of the AMA's statement of ethics into its mission statements. The company hires Bernardo, an industry expert, to help them understand the ethical norms of the industry. FEL Pharmaceuticals is most likely in the _____ stage of the strategic marketing planning process.
Stitch, a bespoke designer boutique, in Florida, caters to over 150 customers every month. The customers usually choose and purchase fabric at the same store and depend on an in-house tailor's recommendations for purchasing the right amount of fabric. If the employees of Stitch overestimate the amount of fabric required or overcharge customers for fabric, they will be violating the value of _____ in the AMA Statement of Ethics.
The _____ phase of the marketing plan entails evaluating the performance of the marketing strategy using marketing metrics and taking any necessary corrective actions.
Marielle Farm sells bakery and dairy products in the U.S. It sells three varieties of cheese, six types of breads, four types of jams, five types of cookies, and eight different varieties of croissants. What is the breadth of Marielle's product mix in this scenario?
Which of the following would an organization do during the qualification stage of the customer relationship management process?
Which of the following commodities is most likely to be bought through habitual decision making?
In Travnia, an industrial country, the government controls most of the utilities, including power and water supply. The bottled-water market, however, has four major players: Balk, Pentl, Valr, and Tidum. Each of the companies markets its product using a distinct branding strategy. In an attempt to gain a larger market share, Pentl reduces the price of its products by 10%. It expects to make up for the lost revenue from an increase in sales. Which of the following is true of this scenario?
When conducting a SWOT analysis, an organization will identify opportunities and threats in _____.
A seller's costs are usually determined during or after a product is made, with a specified percentage or dollar amount added to the cost to establish a price. In this case, the organization is using _____ pricing.
In which of the following cases is a firm making a business decision based on a strength, as identified in a SWOT analysis?
Pluto Inc. creates a new software and promotes it through facebook and other similar networking sites. The company is attempting to create interest and is currently in the first stage of the 4E framework. In this scenario, the company is using social networking to create_____.
Peltz, a chewing gum manufacturer, markets chewing gum in a variety of flavors. The company also sells cardamom- and clove-flavored chewing gum under the Peltz brand. Five years after the introduction of the cardamom and clove flavors, the name Peltz is synonymous with cardamom- and clove-flavored chewing gum. Which of the following aspects of the Peltz brand is exemplified in this scenario?
Calculate the return on marketing investment of a campaign that costs $10,000 and delivers $45,000 in incremental net profit.
Blue Sun Ads creates advertisements for a variety of clients selling goods, services, and ideas. Which of the following is an example of a service?
Which of the following is most likely to be considered a convenience product?
Dento Inc., a manufacturer of dental care products, faced a social media uproar when rumors spread that it was using ingredients from animal sources to create its products. The labels as such carried no evidence of this and this discovery was brought about by an independent researcher. The company's CEO and senior management did not know about these ingredients. Internal research revealed that containers used to hold Dento's products, produced by a vendor, used products derived from animal fat in the manufacturing process, but the product itself did not contain any fat. What should Dento do to prove that it is ethical?
_____ requires a firm to maintain 100 percent ownership of its plants, operation facilities, and offices in a foreign country, often through the formation of wholly owned subsidiaries.
Stavely Publishing is conducting a SWOT analysis of its marketing environment. In this analysis, the company will identify its strengths and weaknesses from _____.
Which of the following is a tool used to determine amount of traffic using a site, visiting a blog or tweeting about it?
A company's_____ specifies the marketing activities that a firm will undertake in a specific period of time.
A(n) _____ is a broad description of a firm’s objectives and the scope of activities it plans to undertake, and attempts to answer two main questions: What type of business are we? What do we need to do to accomplish our goals and objectives?
The level of difficulty a manufacturer experiences in getting retailers to purchase its products is determined by:
What is the net promoter score of a company that has 6,431 promoters and 2,801 passives in survey conducted of 12,000 customers?
Quano Inc. decides to produce a 3D-display phone, Chel, which is a much-anticipated release. Most buyers are disappointed within a week because of heating issues. Quano announces immediately that it would replace the defective phones with a rectified model. The new Chel arrives two months later and has a few issues that are taken care of by a software upgrade. This prompts a flood of sales. After six months, Quano releases a new 3D-phone and drops the prices of Chel by over 40%. Jason who has been waiting for this opportunity buys a Chel immediately. In this scenario, Jason is one among the _____.
Which of the following would a firm be likely to do at the implementation stage of its marketing strategy?
_____ pertains to a customer’s perception of the benefits he or she received compared with the costs.
If a customer spends $40 on purchasing a company's product and spends $80 on other companies' products in the same product category, what is the company's share of customer wallet?
CL Foods, a fast-food chain, considers the entire community to be a potential target market. Moreover, the chain has stores in business districts, near schools and colleges and next to ball-parks. CL Foods is using a _____ strategy.
Maynard Inc., a grocery chain, introduced a new system where customers could shop for groceries while travelling on public transportation. Using their smartphones and screens located on buses and trains, customers were able to order groceries and save time. The groceries were later delivered to their homes. In this scenario, Maynard Inc. is engaging the _____ component of the marketing mix.
Toby, the manager in charge of distribution for Nissa Designs, believes that a push strategy will increase efficiency for the company. Which of the following is a feature of a push strategy?
Port, an OEM of computer hardware, accounts for 6% of the computer hardware sold in the U.S. Retailers uses hardware from OEMs like Port to assemble personal computers. Owing to the competitive nature of the industry, Port's pricing is uniform with offerings from other manufacturers. The rise and fall in pricing is dictated more by the rise and fall in prices of raw material, labor, and utilities across the industry. Port's pricing strategy is focused on _____.
Which of the following is a key similarity between selective distribution and exclusive distribution?
_____ are small, full-line discount stores that offer a limited merchandise assortment at very low prices.
Which of the following is likely to be the most expensive supply chain system in an agrarian economy, if all levels of the supply chain are involved?
Shane, a fan of Zmob mobile phones, wants to buy Zmob's new device, Detop, based on a new operating system. Despite critics panning the device in favor of competitors' offerings, Shane buys a Detop. Pleasantly surprised by Detop's quality, Shane advices his friends, Jana and Raul, to buy the device. Jana and Paul examine Shane's Detop, and Jana decides to buy one for herself, while Paul decides to wait for the prices to drop. In this scenario, Shane is one among the _____.
TESTED 13 Jan 2025