Question 1. Lands' End, the clothing company, offers an unconditional guarantee that reads, "If you're not satisfied with any item, simply return it to us at any time for an exchange or refund of its purchase price." Which category of product strategy does this example illustrate?
Support
Branding
Quality
Packaging
Question 2. Which term BEST describes a distinguishing attribute that products used for a business (not end-user consumer products) have in common?
Usage groups
Process materials
Derived demand
Post-sale support
Question 3.. Which answer BEST conveys the difference between social marketing and cause-related marketing?
Social marketing refers to commercial, community, or cause ideas, while cause-related marketing refers to environmental, social, or public health ideas.
Cause-related marketing generates results for a cause or social concern, while social marketing ties a company's brand to a cause or concern.
Cause-related marketing refers to companies' use of tie-ins with causes, while social marketing refers to the media channels used to deliver that message.
Social marketing generates results for a cause or social concern, while cause-related marketing ties a company's brand to a cause or concern for strategic purposes.
Question 4. Which of the following BEST describes the Internal Analysis planning tool?
A framework for finding an achievable strategy based on competitive opportunities that can be seen in the external marketplace.
A review of an organization focused on factors in the micro-environment and the macro- environment.
A comprehensive business process that articulates formalized, top-down strategic planning on a regular cycle.
A review of an organization's strengths and weaknesses focused on factors within its domain.
Question 5. Which of the following examples represents primary research designed to produce qualitative data?
In-depth interview
Website traffic
Industry sales data
Industry case study
Question 6. What market trend is creating an opportunity for product offerings that are marketed as ideas?
Consumers' interest in opinions of people like themselves concerning product recommendations.
Consumers' desire to do business with companies with extensive product lines.
The development of social network portals that help people form communities around shared interests.
The proliferation of product options, of which many are "good enough" and few capable of sustaining interest.
Question 7. Which campaign example BEST illustrates a focus on capturing "share of customer"?
Starbucks rolls out a mobile phone app that works like a frequent-purchase rewards card but captures data to measure Customer Lifetime Value.
Trader Joe's mails "Trader Joe's Fearless Flyer," an advertising circular, to 350,000 San Gabriel
Valley households.
Mars Candy uses newspaper advertising and in-store events to promote a new ice cream novelty line that extends the well-known candy brand.
Post Cereal extends its Honey Bunches of Oats product line with Fruit Blends, using coupons on the original product to encourage consumers to try the new line.
Question 8.The Marketing Era could be most identified with
recognition that demand could be manipulated through promotional activity.
the rise of market research as a discipline.
the prevailing belief that "a good product will sell itself."
increasing focus on applying concepts from behavioral sciences like psychology to understand consumer motivation.
Question 9. Including what element in a marketing campaign makes it easier to quantify campaign response?
A compelling value proposition.
A satisfaction survey.
Variable data components.
A test group and a control group.
Question 10. Customer value is identified in the text as possessing specific attributes. These include which four traits?
Interactive, dynamic, relativistic, and conditional
Meaningful, dynamic, conditional, and subjective
Variable, equivalent, conditional, and interactive
Dynamic, relativistic, conditional, and communicable