1.Virgin uses its name on all of its various businesses: Virgin Atlantic, Virgin Mobile, Virgin Media, Virgin America, etc. Which branding strategy is the company using to build its brand?
a. umbrella branding strategy
b. house of brands strategy
c. private label strategy
2.A donut shop's new owner, Vance, decided that he was going to finally make the donuts he always wanted to eat and offer those to his customers. He spent a month coming up with twenty wild and crazy donuts. When he opened his doors again at his grand reopening to his surprise there were only two kinds of his custom donuts that people liked. What mistake did Vance make:
a. conducted no initial market research of customer donut preferences
b. knew exactly what his customers craved in donuts
c. misunderstood how to make his crazy donuts
3.What are the distinguishing differences in the B2B buying process as compared with the consumer buying process? Select all that apply:
Select one or more:
a. The complete process occurs only with a new task.
b. The stages mirror the customer buying process exactly.
c. The B2B process is more formal than the B2C buying process.
4.When should you consider repositioning?
Choose all the apply
Select one or more:
a. When a new competitor is entering the market or leaving
b. When costs to produce the product change
c. When consumer trends change based on taste or preference
d. When its time to discontinue the product
5.When creating a questionnaire, it is important to:
a. use acronyms to save space.
b. use jargon that relates to the topic.
c. ask two questions in one to increase response rates.
d. be as blunt as possible.
e. be clear and unambiguous.
6.A company running a focus group is asking questions such as, "What does this product mean to you?", "How do you like its features?", and "Why do you believe this product beats the competition?". What type of research is this company conducting?
a. qualitative research
b. quantitative research
c. secondary research
7.A computer microphone company finished its competitive advantages exercise and needed a way to gauge its position in the market with its competitors. Which tool would be the best way for the company to display its position?
a. product development chart
b. positioning strategy table
c. perceptual map
8.Depending on the company, social responsibility fits most comfortably in what area of the marketing planning process?
a. situational analysis area
b. corporate mission or marketing strategy
c. implementation and evaluation area
9.A company had more than 1,500 different brands, most of them antiquated or no longer in use. These brands existed in countries around the world. The company decided its brands needed streamlining. Initial research showed that the majority of the brands were mostly product labels that customers neither used or knew about. From this research seven family brands were selected to replace and simplify the previous brand portfolio. Additional global research indicated how these brands should be positioned against competitor brands so that they could be aligned and strengthened properly. In addition to successfully restructuring the company's brand portfolio, the brand research was designed as a tracking study and the strength of the realigned brands could be measured year to year. What should the company's next marketing steps be?
a. Gradually reintroduce the discontinued brands back into the marketplace.
b. Continue to monitor the repositioning and recategorization of their brands and make adjustments where necessary.
c. Continue to monitor results of the rebranded categories in three countries around the world.
10.Bob just finished closing a large-ticket item sale with a large management company of ten football stadiums. To close the deal he made assurances that he wasn't sure he could fulfill and exaggerated the benefits and features of the large-ticket item. Bob's behavior could be construed as:
a. large unethical behavior
b. typical sales compensation structure behavior
c. smart sales behavior
11.In the new media world of social media, new territory has opened up for ethical challenges. What is an ethical focus question a company should ask itself before posting a piece on social media?
a. Does this marketing piece fit the company's brand?
b. Is the marketing piece honest, transparent, and ethical?
c. Will this marketing piece achieve its goal?