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NEW QUESTION 170
_____ is a popular positioning method because the relationship of price to quality is among the most important considerations for consumers when they make a purchase decision.
- A. Competitor differentiation
- B. Product attributes
- C. Symbols
- D. Brand image
- E. Value
Answer: E
NEW QUESTION 171
_____ is the two-way flow of communication between a buyer and a seller that is designed to influence the buyer's purchase decision.
- A. Personal selling
- B. Public relation
- C. Direct marketing
- D. Advertising
- E. Sales promotion
Answer: A
NEW QUESTION 172
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?
- A. Direct ownership arrangement
- B. Joint venture
- C. Franchising
- D. Strategic alliance
- E. Licensing arrangement
Answer: B
NEW QUESTION 173
Zippy manufacturers pens in the U.S. Zero Point, Zippy's latest ball point pen, is three months old and yet to grab a significant market share. Since the demand for ball point pens is high, Zippy believes that Zero Point will benefit from increased advertisement and promotions. Zippy's marketing strategies are aimed at increasing the market share of Zero Point, significantly, during the current quarter. In this scenario, Zero Point is a _____.
- A. cash cow
- B. loss leader
- C. star
- D. dog
- E. question mark
Answer: E
NEW QUESTION 174
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?
- A. 39.21%
- B. 44%
- C. 30.53%
- D. 12.41%
- E. 51.32%
Answer: C
NEW QUESTION 175
When Lily, a travel agent, she sells an expensive vacation package, she encourages the customer to buy travel insurance, which provides reimbursement in case of trip cancellation due to illness or another emergency. Jordana is trying to reduce her customers'_____ risk.
- A. physiological
- B. psychological
- C. social
- D. performance
- E. financial
Answer: E
NEW QUESTION 176
_____ refers to customers' perceptions of how well a service meets or exceeds their expectations and is often difficult for customers to evaluate.
- A. Service inseparability
- B. Service heterogeneity
- C. Service quality
- D. Service intangibility
- E. Service perishability
Answer: C
NEW QUESTION 177
Which of the following is likely to be true of passive customers?
- A. They are likely to complain about the product or service.
- B. They are likely to seek negative information about products.
- C. They are likely to seek positive feedback from friends.
- D. They are likely to recommend the product to others.
- E. They are likely to remain from repurchasing a product.
Answer: E
NEW QUESTION 178
The retention rate of a particular brand of engine oil in 2013 is 87%. If 6,000,000 customers purchased the brand in 2012, how many of these customers purchased the same brand in 2013?
- A. 5,220,000
- B. 5,291,100
- C. 5,100,000
- D. 5,177,000
- E. 5,250,679
Answer: A
NEW QUESTION 179
_____ is a method of prospecting in which salespeople telephone or go to see potential customers without appointments.
- A. E-selling
- B. Relationship selling
- C. Cold calling
- D. Macro selling
- E. Direct selling
Answer: C
NEW QUESTION 180
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 _____.
- A. early majority
- B. early adopters
- C. late majority
- D. innovators
- E. laggards
Answer: C
NEW QUESTION 181
How can firm decrease the depth of the product mix?
- A. By introducing an existing product line in a new markets
- B. By adding a new product to an existing product line
- C. By deleting products to realign resources
- D. By deleting product lines in one market and moving them to another market
- E. By eliminating loss-making product lines
Answer: C
NEW QUESTION 182
In which of the following cases is a company changing its business strategy in response to a strength identified in a SWOT analysis?
- A. When new competitors entered its market, Widdershins Inc. had to increase its advertising and marketing efforts to maintain its market share.
- B. When a survey revealed that customers thought its products were safe and durable, Masada Motors began stressing that aspect in its advertisements.
- C. When it realized that its products were inferior in quality to competitors' products, KPR Inc. instituted a revamp of its production processes.
- D. Chocobella Inc. introduced a line of unsweetened chocolates when a competitor's unsweetened chocolate saw increasing demand.
- E. YellowBerry Inc. identified market demand for powdered energy drinks, and began producing powdered drinks to cater to this demand.
Answer: B
NEW QUESTION 183
Rudolf Freer Inc., an automobiles manufacturer, decides to create an all-weather golf cart. The decision is stimulated by the increasing popularity of snow-golfing. The R&D team of Rudolf develop a working model of the golf cart and simulate different weather conditions in the lab to see how the golf cart holds up. The golf cart is currently in the stage of _____.
- A. idea generation
- B. concept testing
- C. beta testing
- D. alpha testing
- E. market testing
Answer: D
NEW QUESTION 184
Which of the following firms is using a product development strategy?
- A. Helios International expanded its traditional hotel business and opened state-of-the-art fitness centers in its current markets.
- B. RK International is expanding from the Japanese market to enter the Indian and Sri Lankan markets.
- C. Icicle Media creates websites and branding campaigns for the UK market.
- D. New York-based Karma Coffees opens an outlet in Los Angeles.
- E. Rygel Clothing entered a new market in Hibernia to introduce its newest product line-footwear and accessories.
Answer: A
NEW QUESTION 185
Which of the following is true of the in-depth interview method?
- A. In-depth interviews are relatively less time consuming.
- B. The results of in-depth interviews can be used to make quick changes to the product roll.
- C. In-depth interviews cannot be used to establish an historical context.
- D. In-depth interviews can be used for sentiment mining.
- E. The results of in-depth interviews can be used to develop surveys.
Answer: E
Explanation:
Explanation/Reference:
NEW QUESTION 186
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