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MKTG 522_Marketing_Plan_Week 5_Channel Management Quiz Questions set 1 and 2 Answer

MKTG 522_Marketing_Plan_Week 5_Channel Management Quiz Questions set 1 and 2 Answer

MKTG 522_Marketing_Plan_Week 5_Channel Management Quiz Questions set 1 and 2 Answer

MKTG 522_Marketing_Plan_Week 5_Channel Management Quiz Questions set 1 and 2 Answer

MKTG 522_Marketing_Plan_Week 5_Channel Management Quiz Questions set 1 and 2 Answer

Set 1

Question 1. 1 (TCO C) When a company marketer expresses their vision of what the brand must be and do for consumers, they are expressing what is called ________.

( ) a brand promise
( ) a brand personality
( ) a brand identity
( ) a brand position
( ) a brand revitalization
Question 2. 2. (TCO C) A marketing advantage of strong brands is which of the following:
( ) no vulnerability to marketing crises
( ) more elastic consumer response to price increases
( ) guaranteed profits
( ) additional brand extension opportunities
( ) more inelastic consumer response to price decreases

Question 3. 3. (TCO H) A company which is willing to maintain its market share, and not attack the leader and other competitors in an aggressive bid for further market share, is known as a ________.

( ) market challenger
( ) market leader
( ) market follower
( ) market nicher
( ) market entrant

Question 4. (TCO H) Which of the following is a characteristic of a service?
( ) It is essentially tangible.
( ) It does not result in the ownership of anything.
( ) Its production is majorly tied to a physical product.
( ) Services are typically produced and consumed at different times.
( ) A client’s presence is not required for rendering a service.

Question 5. (TCO H) A company marketing manager has developed a strategy that will require the organization to erect outposts to protect its weak front-running brands. In this ________ defense, the outposts will be central to the organization’s new competitive strategy.
( ) position
( ) flank
( ) preemptive
( ) counteroffensive
( ) mobile

Question 6. (TCO H) The five product levels constitute a ________. At each level more customer value is added.
( ) product line
( ) business model
( ) customer value-hierarchy
( ) value grid
( ) demand chain

Question 7. (TCO H) A wine company positioned in the “middle” market decides to introduce a lower-priced product line. What type of line-stretching is this?
( ) home stretch
( ) up-market stretch
( ) down-market stretch
( ) maintenance stretch
( ) two-way stretch

Question 8. (TCO H) Which of the following will most help service providers overcome the limitation of intangibility of services when positioning itself? (Points : 6)
( ) using brand symbols
( ) sharing services
( ) working with larger groups
( ) cultivating non-peak demand
( ) creating a service blueprint

Question 9. (TCO D) The key to perceived-value pricing is to ________. (Points : 6)
( ) reengineer the company’s operations
( ) deliver more unique value than competitors
( ) adopt subtle marketing tactics compared to competitors
( ) deliver more value but at a lower cost
( ) invest heavily in advertising in order to convey superior value

Question 10 (TCO D) Companies who believe that a higher sales volume leads to lower unit costs and higher long-run profits are attempting to ________. (Points : 6)
( ) maximize their market share
( ) skim the market
( ) become a product-quality leader
( ) merely survive in the market
( ) maximize their current profits

Set 2

1. (TCO C) Sam wants to buy a washing machine and is looking for something that is modestly priced. When he goes to make the purchase, he finds there are two options that meet his requirements. One is an IFB Bosch product, while the other is a newly imported South Korean brand. Adam is not very familiar with the latter and does not hesitate in choosing Bosch. This example implies that ________. (Points : 6)
the imported brand will not survive the competition from Bosch
Bosch has a positive customer brand equity
the South Korean company has a low advertising budget
the imported brand is unreliable
the Bosch washing machine has better features than the imported brand

Question 2. 2. (TCO C) Two advantages of ________ are that they can facilitate new-product acceptance and provide positive feedback to the parent brand and company. (Points : 6)
product licensing
brand extensions
brand architecture
brand audits
brand dilutions

Question 3. 3. (TCO H) When the total market expands, the ________ usually gains the most. (Points : 6)
market challenger
market leader
market follower
market nicher
market entrant

Question 4. 4. (TCO H) If the company takes the opportunity to diversify into unrelated products, into new geographical markets, and leapfrogging into new technologies, this would be the ________ attack. (Points : 6)
bypass
flank
frontal
guerrilla
encirclement

Question 5. 5. (TCO H) The five product levels constitute a ________. At each level more customer value is added. (Points : 6)
product line
business model
customer value-hierarchy
value grid
demand chain

Question 6. 6. (TCO H) To achieve more growth, to realize higher margins, or simply to position themselves as full-line manufacturers, companies may wish to implement a(n) ________ (Points : 6)
up-market stretch
rebranding plan
outsourcing strategy
disintermediation policy
vertical integration strategy

Question 7. 7. (TCO H) Which of the following is an example of a pure service? (Points : 6)
air travel
psychotherapy
baby oil
a laptop
a restaurant meal

Question 8. 8. (TCO H) Which of the following will help a service provider overcome the limits imposed by the inseparability of services? (Points : 6)
using differential pricing
working with larger customer groups
providing complementary services
concentrating on physical evidence and presentation
standardizing the service process

Question 9. 9. (TCO D) Companies who believe that a higher sales volume leads to lower unit costs and higher long-run profits are attempting to ________. (Points : 6)
maximize their market share
skim the market
become a product-quality leader
merely survive in the market
maximize their current profits

Question 10. 10. (TCO D) The key to perceived-value pricing is to ________. (Points : 6)
reengineer the company’s operations
deliver more unique value than competitors
adopt subtle marketing tactics compared to competitors
deliver more value but at a lower cost
invest heavily in advertising in order to convey superior value

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week 5