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MKT MGT 5402 Quiz Questions With Complete Solutions Warthog Engine manufactures engines used in automobiles, trucks, planes, and ships. They are considering an expansion into the international market. Which of the following options best represents a factor the company should consider when reviewing potential markets? the value of leveraging strong relationships with collaborators The Moraine Company is preparing to expand into the international market. Their president wants the company to utilize an approach that will minimize their risk while also offering greater profit potential. Which of the following options represents the best option for helping to achieve this goal? indirect exporting Tax Central is a tax consulting firm. They recently began selling their brand concept, software, and standard operating plan and procedures to overseas entrepreneurs and business groups. Tax Central is most likely using which of the following strategies? licensing Rodon Athletic Supply is an international firm. They modify their marketing plans to model the unique characteristics of each country's target market. Rodon Athletic is most likely leveraging which of the following types of marketing programs? localized
Lighthouse Powdered Metals uses a unique powdered metal to manufacture gears, sprockets, springs, and other parts. The company recently entered several foreign markets by opening factories in each country. Each factory manufactures and sells the same products that are found in Lighthouse's home market. This example best demonstrates which of the following product strategies? straight extension Speakeasy Brewing is a microbrewery located in Wisconsin. The company sells its beer out of their local taproom and in different liquor stores across the country. Speakeasy recently began brewing a different version of their beer for bars and restaurants and a different version for box stores and supermarkets. Speakeasy's new products can be best described as a ________ version. retailer Juarez and Alvarado Enterprises sells freeze-dried meals to its customers. They are preparing for global expansion and have conducted several consumer surveys to help with planning. The results from one country indicated that the product packaging was unpleasant because it reminded consumers of previous foreign interventions in the country. Juarez and Alvarado decide to change the product packaging in this country to reflect consumer opinion, which best describes the concept of ________. brand adaption
considerations will be most important for the CEO to consider as he writes the mantra? it should define the brand's category Mythos Shipping recently signed a sponsorship deal with their state's professional basketball team. At the same time, Mythos also agreed to a separate endorsement deal with the team's star player. These two actions can be best described as which of the following terms? secondary brand associations The Fiat Group sells vehicles under a number of different brand names including Jeep, Dodge, Ferrari, and Chrysler. Together, these brands and their respective vehicles are best described as a brand ________. portfolio Makara was recently hired as a marketing manager for the Susa Company. After beginning her employment, she creates a company blog to share product updates with current and potential customers. Which category of media does this blog best represent? owned Health Traits is a new company that develops healthy eating plans for customers. Their most recent television ad depicted an individual eating a fast food dinner then struggling to keep up with his young children while playing outside. The next image
showed a montage of the same person following a Health Traits meal plan and enjoying playtime with his children. The communication in this example can be best described as a(n) ________ appeal. transformational Gal had a bad experience with a lawncare service she used several years ago. She recently saw an advertisement for the service in which her favorite baseball player spoke highly of the service. After hearing the endorsement, Gal decides to give the lawncare service another chance. This example best describes the impact implied by the principle of ________. congruity Hamesh is analyzing the sales impact of a recent marketing campaign his company ran for their new product. He is currently reviewing how much their communication ran in the market compared to advertisements for competing products. Hamesh is most likely measuring share of ________. voice Nia and Mario are the co-owners of Jasmine Industries. Their marketing department recently launched a campaign to promote the company's new product line. Nia and Mario had also recently approved new packaging materials for the company's products, but they were not included in the campaign. Which of the following represents the best means by which Nia and Mario can avoid a similar situation in the future? they could implement an integrated marketing approach
the following options would represent her most trustworthy option? customer reviews Blanket Security Services formed a paid partnership with the semi-professional soccer league in their community. As a result of the agreement, the league provides the company with a dedicated suite and twenty general admission tickets per game. The company entertains its preferred vendors with the suite and rewards exceptional employee performance with general admission tickets. Which form of marketing communication does this example best represent? event sponsorship WEX Production recently purchased one of their top suppliers. They made the purchase to ensure their ability to manage their inventory of key supplies needed for production, while also providing another source of revenue. This example best represents ________ integration. backward Chickie Filet is a new fast-food chain specializing in chicken sandwiches. They modeled much of their menu and operations after Chick-Fil-A; however, they targeted new markets that Chick-Fil-A had yet to enter. Which type of follower strategy does this example best represent? imitator
The marketing team at Steele Production are analyzing their competition looking for opportunities and threats. After conducting research into the market, the team believes that when asked about the industry, approximately 20 percent of customers think of the company's top competitor first. The marketing team in this example is most likely trying to determine their competition's share of ________. mind Capitol Office Supply enjoys the largest share of the market and tends to introduce more new products than its competitors. Capitol Office Supply can be best described as a market ________. leader Glasstech manufactures sheets of strengthened glass that they sell exclusively to mobile device companies. These companies use the glass to create device screens. Glasstech can be best described as a ________ specialist. product C.B. Enterprises is a large company that is comprised of more than twenty brands. To focus more attention on their top brands, the company sells its five lowest performing products to different companies. C.B. funnels the profits from the sales into research and development efforts for the rest of their portfolio. Which of the following defensive strategies does this example best demonstrate? contraction
selecting the most expensive truck that he sees on the lot. Which of the following concepts related to the psychology of pricing does this example best represent? image pricing Young Technology recently opened its doors to the public. Its owner utilized an extremely low price to achieve a high volume of sales. She believes this tactic will lower production costs and increase long-term profit. Which of the following pricing objectives is Young Technology most likely utilizing? market penetration Which of the following is the best example of a fixed cost a company might incur? building utilities Aundrea works on the pricing team at Yardley Manufacturing. She is compiling data on warranty satisfaction and positive customer support metrics as her team determines the appropriate price for their product offerings. Yardley Manufacturing most likely utilizes which of the following pricing methods? economic-value-to-customer Custom-Built Homes purchases the lumber they use for framing houses from a variety of vendors. If the builders ever find themselves short of lumber for a project, they can easily find more from another supplier at a very similar price point. The lumber suppliers in this example most likely utilize which of the following pricing methods?
competitive The Dress-Down Company produces and sells casual business clothing to its customers. The Dress-Down has a retail store located in an upscale shopping district that charges higher prices than consumers find in the company's webstore. Which form of price discrimination does this best represent? channel pricing Many mobile phone apps use a subscription service to unlock the full functionality of the app. An app that offers a monthly rate of $2.99 and an annual rate of $30 is most likely utilizing which of the following pricing methodologies? mixed bundling Warp Speed Technology has seen slight increases to productivity over the past year; however, increases to their building rent and shipping fees have outpaced this growth. Which of the following represents Warp Speed's most appropriate reaction to these circumstances? they should increase product prices Prince Musical Supply sells musical instruments but is not well known in the industry. The CEO hopes to increase market share over the next year and has directed her sales team to focus on finding retailers willing to stock and sell their products to musicians around the country. This scenario best represents a(n) ________ strategy. push
temporal The communications team at Carry-All Container Company is defining their communication budget. Members of the team have determined their communication goals and the work that will need to be completed to meet the goals. Which budgeting approach is the communications team most likely using? objective-and-task Chikelu has been asked to develop a communication message for an upcoming product launch. Which of the following options best describes a key piece of information that Chikelu will need before he can work on the message? the target audience Malachi was recently online and saw a hilarious commercial for a new caffeinated water company. After seeing the video, he immediately shared it through his Facebook and Twitter accounts before emailing the commercial to some of his family members. Which form of marketing is the water company most likely relying on in this example? viral marketing Which of the following represents the best means by which a company could highlight a product's defining attributes and give its use and storage instructions to a potential customer while they are shopping?
through the product label Bar None Breakfast is part of the very competitive breakfast foods industry. Their leadership team wants to ensure that shoppers do not miss out on Bar None's cereal products due to information overload from competing advertisements. Which of the following would best help them with achieving their objective? by using effective packaging Prost Beverages is considering an expansion into foreign markets. The chief marketing officer is meeting with the CEO to discuss the company's strategy and is asked to describe potential risks the company may encounter overseas. Which of the following best represents a specific risk she can share? limited understanding of the foreign country's culture Business has been booming in Tempest Technology's home market. The owner of the startup firm wants to expand into as many new countries as possible in the next year. Which of the following options best describes a risk to using such an approach? the substantial resource outlay A popular designer of household furnishings sells their luxury line of products through exclusive boutique retailers while also
