Conceptual Assessment-2 Doc

pdf

School

Southern Illinois University, Edwardsville *

*We aren’t endorsed by this school

Course

525

Subject

Marketing

Date

Feb 20, 2024

Type

pdf

Pages

Uploaded by BrigadierKnowledge32228

MKTG-525: Conceptual Assessment-2 Doc Fall-2022 Instructor: Dr. Nayyer (Nick) Naseem, Email: nnaseem@siue.edu Page 1 of 10 MKTG-525: Marketing Analysis and Applications for Managerial Decision Making Conceptual Assessment-2 (15 Points) Deadline: Sunday, September 18, 2022, by 11:59 pm The Conceptual Assessment-2 has the two sections covering Chapters-6 through Chapter-9 of the course’s assigned textbook. Section-1 : This section has a total of 40 multiple choice questions (MCQ) and all questions are compulsory to answer. Each question carries a weight of 0.25-point totaling to 10 points. Some questions may have up to 5 alternatives, while others may have fewer alternatives, but there is only one correct answer. Consider all alternatives before selecting the best one in your opinion. You will have two attempts (highest score accounted for) to submit your responses through a submission link provided in the Conceptual Assessment-2 folder on the course SIUE BB. It is advised that you first complete the quiz below at your convenience and time, select the responses and then attempt to submit the responses online. This quiz is due on Sunday, September 18, 2022, by 11:59 pm. Students get two attempts with the higher score accounted for. Late submissions will not be possible. Section-2: This section will require to answer two subjective questions, for 2.5-points each totaling to 5 points, from a given choice of 6 question options in about 250 words each and submit it through a separate link provided in the Conceptual Assessment-2 folder. This assignment is due on Sunday, September 18, 2022, by 11:59 pm. Students get two attempts with the higher score accounted for. Late submissions will not be possible. SECTION-1: Multiple-Choice Question (MCQ) Quiz (40 Questions/10 Points) 1. The process of identifying customers for whom the company will optimize its offering is called ________. a. targeting b. dominance c. positioning d. segmentation e. research 2. ________ identifies the ways in which the company can reach those customers it has deemed strategically important. a. Tactical targeting b. The marketing mix c. Strategic targeting d. Product customization e. Mass customization

MKTG-525: Conceptual Assessment-2 Doc Fall-2022 Instructor: Dr. Nayyer (Nick) Naseem, Email: nnaseem@siue.edu Page 2 of 10 3. Coca-Cola's original marketing strategy that offered a single drink Coca-Cola Classic in a single sized bottle with the advertising theme "Coke is it," is an example of ________ marketing. a. concentrated b. niche c. differentiated d. micro e. undifferentiated 4. A ________ has three characteristics: (1) It is a source of competitive advantage and makes a significant contribution to perceived customer benefits, (2) it has applications in a wide variety of markets, and (3) it is difficult for competitors to imitate. a. strategic competency b. company strength c. benefit strength d. core competency e. tactical advantage 5. Target customers can create two kinds of value for a company: monetary and ________. a. tactical b. financial c. strategic d. market share e. profitability 6. Age, gender, income, occupation, level of education, religion, ethnicity, nationality, employment status, population density, social class, household size, and stage in the life cycle are all considered ________ factors. a. personal b. behavioral c. demographic d. psychographic e. geographic 7. If Walmart divides potential customers into those who prefer to shop online versus those who prefer to shop in person at a Walmart location, it is using a ________ factor to segment its customers. a. personal b. behavioral c. demographic d. psychographic e. geographic

MKTG-525: Conceptual Assessment-2 Doc Fall-2022 Instructor: Dr. Nayyer (Nick) Naseem, Email: nnaseem@siue.edu Page 3 of 10 8. A ________ consists of a group of customers who share a similar set of needs and/or profile characteristics. a. vertical marketing system b. market basket c. market share d. market segment e. market level 9. The VALS framework is one of the oldest and best known ________ segmentation systems. a. psychographic b. demographic c. geographic d. economic e. behavioral 10. Hilton Hotels customizes rooms and lobbies according to location. Northeastern hotels are sleeker and more cosmopolitan. Southwestern hotels are more rustic. This is an example of ________ segmentation. a. demographic b. behavioral c. psychographic d. geographic e. cultural 11. If a heavy equipment manufacturer decided not to pursue customers who prefer leasing over buying, it would be using which segmentation variable? a. Economic stability b. Operating variables c. Demographic factors d. Purchasing approaches e. Situational factors 12. The ________ is essentially the total customer benefit minus the total customer cost. a. customer net value b. positioning c. core message d. customer value proposition e. customer economic value

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

MKTG-525: Conceptual Assessment-2 Doc Fall-2022 Instructor: Dr. Nayyer (Nick) Naseem, Email: nnaseem@siue.edu Page 4 of 10 13. After a company discovers different needs and groups of consumers in the marketplace, it targets those it can satisfy in a superior way and then develops a value proposition and ________ its offerings so the target customers recognize the distinctive benefits of its offerings. a. positions b. sells c. prices d. launches e. designs 14. Depending on the needs of customers, an offering can create value across three domains: ________, psychological, and monetary. a. functional b. financial c. emotional d. logical e. social 15. Which element of customer value goes beyond functional value to create emotional benefits? a. Functional b. Financial c. Psychological d. Logical e. Social 16. When Coca-Cola determines the bottled-water competitors for its Dasani brand by identifying the products or sets of products with which the brand competes and which function as close substitutes, it is determining Dasani's ________. a. customer-focused value proposition b. points of parity c. points of difference d. category membership e. brand statement 17. How can a brand succeed if it has some perceived points of weakness in terms of competitive parity? a. If it can convince consumers those weaknesses don't matter b. If it can explain to consumers that they have misunderstood the product c. If it can "break even" in those disadvantageous areas and achieve advantages in other areas d. If it can show that competitors have weaknesses, too e. If it ignores those weakness to avoid bringing attention to them.

MKTG-525: Conceptual Assessment-2 Doc Fall-2022 Instructor: Dr. Nayyer (Nick) Naseem, Email: nnaseem@siue.edu Page 5 of 10 18. Marketers can use ________ to reveal "holes" or "openings" that suggest unmet consumer needs and marketing opportunities, as visual representations of consumer perceptions and preferences. a. positioning b. perceptual maps c. brand maps d. gap analysis e. segmentation 19. Subway restaurants are positioned as offering healthy, good-tasting sandwiches. When the competitive frame of reference is quick-serve restaurants like McDonald's, what is the point of difference (POD)? a. Health b. Taste c. Convenience d. Price e. Brand 20. When Dollar Shave Club stresses price as an advantage over competitors, which strategy is it using to create competitive advantage? a. Introducing a new attribute b. Differentiating on an existing attribute c. Building a strong brand d. Noting points of parity e. Downgrading the competition 21. To build a strong brand and avoid the commodity trap, marketers must start with the belief that it is possible to differentiate an offering by creating ________. a. a sustainable competitive advantage b. the lowest-cost product c. the highest-rated product d. the most talked-about product e. competitive parity at least 22. Which element of a brand story framework relates to the way the narrative logic unfolds over time, including actions, desired experiences, defining events, and the moment of epiphany? a. Language b. Pitch c. Cast d. Setting e. Narrative arc

MKTG-525: Conceptual Assessment-2 Doc Fall-2022 Instructor: Dr. Nayyer (Nick) Naseem, Email: nnaseem@siue.edu Page 6 of 10 23. A customer judges a product offering by three basic elements: product, service, and ________. a. performance b. utility c. tangibility d. brand e. availability 24. Many products can be differentiated in terms of their ________, which are their size, shape, or physical structure. a. form b. prototype c. architecture d. model e. blueprint 25. The basic capability of any product is known as its ________. a. main operating mode b. prime function c. core functionality d. value proposition e. customer purpose 26. If the sound quality of your new Bluetooth headphones is simply unacceptable to you, this represents a problem with the product's ________. a. conformance quality b. expected quality c. performance quality d. minimal quality e. guaranteed quality 27. A commodity offering that can't be meaningfully differentiated based on the product itself or any associated services might still achieve differentiation through ________. a. branding b. sales channels c. financing d. reliability e. initial quality 28. The extraordinary look of Jaguar automobiles relates to the ________ element of product design. a. form b. style c. customization d. performance quality e. conformance quality

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

MKTG-525: Conceptual Assessment-2 Doc Fall-2022 Instructor: Dr. Nayyer (Nick) Naseem, Email: nnaseem@siue.edu Page 7 of 10 29. In the United States, the ________ requires processed-food producers to include nutritional labeling. a. Consumer Products Safety Commission b. Department of Agriculture c. Food and Drug Administration d. Department of Education e. Bureau of Product Information 30. We define packaging as all the activities of designing and producing the container for a product. This includes up to three levels of material: primary package, secondary package, and ________ package. a. retailer b. design c. shipping d. consumer e. supplier 31. Whereas ________ are always provided free of charge and require no additional payment from customers, extended ________ are available to increase the coverage that comes with the product. a. guarantees; warranties b. warranties; guarantees c. guarantees; performance stipulations d. terms of service; warranties e. performance promises; warranties 32. Effective product guarantees and warranties need to be relevant, easily understood, and ________. a. free b. expressed in less than one page c. available in multiple media formats d. easy for the customer to invoke e. on display in the store 33. A flight with complementary drinks is an example of a ________. a. major service with accompanying minor goods and services b. pure service c. pure tangible good d. tangible good with accompanying services e. hybrid

MKTG-525: Conceptual Assessment-2 Doc Fall-2022 Instructor: Dr. Nayyer (Nick) Naseem, Email: nnaseem@siue.edu Page 8 of 10 34. The fact that services are typically produced and consumed simultaneously is known as the ________ aspect of services. a. perishability b. intangibility c. heterogeneity d. inseparability e. variability 35. Unlike physical products, services cannot be seen, tasted, felt, heard, or smelled before they are bought. This is known as the ________ aspect of services. a. inseparability b. intangibility c. variability d. perishability e. heterogeneity 36. Service quality depends on who provides them, when and where they are provided, and to whom they are provided. Thus, service quality is highly ________. a. inseparable b. tangible c. variable d. perishable e. intangible 37. Which of the following steps will help service firms to increase their quality control? a. Standardizing the service-performance process b. Providing complementary services to customers c. Giving personnel authority in handling situations d. Adopting differential pricing e. Cultivating nonpeak demand 38. To map out the service process, the points of customer contact, and the evidence of service from the customer's point of view, service firms should develop a ________. a. marketing plan b. service floor plan c. gantt chart d. business plan e. service blueprint

MKTG-525: Conceptual Assessment-2 Doc Fall-2022 Instructor: Dr. Nayyer (Nick) Naseem, Email: nnaseem@siue.edu Page 9 of 10 39. Which of these was NOT identified in the chapter as one of the main opportunities for differentiating services? a. Ease of ordering b. Staff reputation c. Installation, training, and consulting d. Speed and timing of delivery e. Maintenance and repair 40. Gloria goes to the same bagel shop every morning because the workers there remember her name and remember her order. They always make her feel welcome. The employees of this bagel shop excel at which of the following determinants of service quality? a. Reliability b. Responsiveness c. Assurance d. Empathy e. Tangibles

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

MKTG-525: Conceptual Assessment-2 Doc Fall-2022 Instructor: Dr. Nayyer (Nick) Naseem, Email: nnaseem@siue.edu Page 10 of 10 SECTION-2: Conceptual Assessment-2 Subjective Assignment (2x2.5=5 Points) ANSWER ANY TWO SUBJECTIVE QUESTIONS , FOR 2.5-POINTS EACH TOTALING TO 5 POINTS, from a given choice of 5 question options in about 250 words each and submit it through a separate link Conceptual Assessment-2 Written Assignment provided in the same folder. This assignment is due on Sunday, September 18, 2022, by 11:59 pm. Students get two attempts with the higher score accounted for. Late submissions will not be possible. 1. Define targeting and distinguish between the strategic and tactical targeting. 2. What are different approaches to segment a consumer market as part of tactical target marketing? Briefly explain each type of market segment. 3. What is customer value proposition, and what are the three domains of value for a customer seeking value in an offering? 4. What is positioning and how it is distinct from competitive advantage? Briefly explain, how a firm can create sustainable competitive advantage. 5. What is product differentiation? Briefly explain attributes, based on which firms often differentiate their offerings. 6. Define “service” and the ranges of service aspect of an offering. Briefly explain the distinctive characteristic of services.

Conceptual Assessment-2 Doc

Related Documents