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D077 MARKETING EXAM STUDY GUIDE
A mobile phone carrier markets pricing plans to its customers differently depending on how much data the customers use each month. What type segmentation strategy is the mobile phone carrier using? Geographic Demographic Psychographic Product-related - Product-related What type of marketing is a company using if their efforts are directed towards a specific group? Target Strategy Mass Undifferentiated - Target Which factor is used more efficiently when a target market has been identified? End users Potential users Fiscal resources
Legal compliance - Fiscal resources A mattress retailer sells a variety of quality mattresses. The company wishes to reach a large customer base by offering graduated rebates to different customers depending on the size and quality of the mattress purchased by the customer. Several commercials are developed to highlight each mattress along with its accompanying rebate. What type of targeting strategy is being used by the mattress retailer? Concentrated Differentiated Micromarketing Undifferentiated - Differentiated A consumer laundry detergent manufacturer makes several types of laundry detergents and wishes to create commercials for each of the products showcasing each product's strengths. What type of targeting strategy is being used by this consumer laundry detergent manufacturer? Micro-marketing Concentrated Differentiated
What uncontrollable marketing element provides user input as to how the company delivers upon its value proposition? Quality control inspections Product delivery schedule Competitive elements Consumer feedback - Consumer feedback Which controllable marketing function should a company use to achieve its firm- level goals and to satisfy the target customers' needs and wants? Sales Promotion Production Product - Product Which controllable element is included in the marketing mix? Legal Product Political Environmental - Product A marketer introduces a tutorial video featuring the company's new cosmetic line.
Which set of elements from the marketing mix is the marketer using? Price and place Product and price Promotion and place Product and promotion - Product and promotion A realtor representing luxury condominiums offers pre-construction discounts to clients. Which part of the marketing mix does this approach represent? Place Price Product Promotion - Price An online consignment store offers free gifts with purchases within the next 30 days using an attractive and easy-to-use website. Which part of the marketing mix is represented by the company's website? Price and place
A manager is researching an element of the marketing environment that the company cannot control. Which one of these elements is the manager considering? Place Pricing Promotion Demographic - Demographic What is an example of a controllable element that influences marketing decisions? Governmental regulations Promotional campaigns Technological advances Social factors - Promotional campaigns Which action reflects the use of ethical marketing? Posting revised customer reviews Reselling returned products online Supply chain transparency reporting
Labeling without instructions for use - Supply chain transparency A small town has two coffee shops. The shop owners agree to raise their prices for espresso drinks from $3 to $6 per cup because they are the only two shops in the market. Which illegal pricing tactic is being used? Price fixing Bait and switch Predatory pricing Price discrimination - Price fixing - competitors communicate to each other what they will charge. A woman visits a baby store, planning to buy a crib for $100. The salesperson tells her that the $100 crib is no longer available but a $250 crib can be purchased. The woman can see the $100 crib boxes on a shelf. Which pricing tactic was the salesperson attempting to use? Price fixing Bait and switch Predatory pricing Price discrimination - Bait and switch- sales person doesn't intent to sell you what was advertised.
A highway toll company has decided to charge no fees for car-pooling vehicles. Which element of the marketing mix is represented by this ethical decision? Place Price Product Promotion - Price A retailer offers all customers complementary, eco-friendly gift wrapping to add value to their holiday purchases. Which element of the marketing mix does this ethical decision-making address? Place Price Product Promotion - Product- adding something to the product purchase A marketing manager is conducting a situational analysis during the market planning process and needs to differentiate between controllable and uncontrollable elements. The manager decides to first identify the controllable elements.
Which business element is the manager identifying? Culture Products Customer Competition - Products A marketing manager would like to take advantage of factors outside the company to develop an effective marketing plan. Which factor does the manager needs to consider? Market forces Company resources Product management Organizational capabilities - Market forces Which business factors are external to an organization? Opportunities and threats Strengths and weaknesses
Which quadrant of the BCG matrix meets this guideline? Dog Star Cash cow Question mark - Star A manager is considering the economics of an industry's factors that determine how competitive, attractive, and profitable the market is for the company's products. Which planning tool is being used by this manager? BCG matrix SWOT analysis Porter's five forces model Pro forma income statement - Porter's five forces model A company operates in an industry in which raw materials are scarce, and in which the vendors charge excessively high prices for raw materials. Which one of Porter's five forces is illustrated by this company's situation?
Threat of new entrants Bargaining power of buyers Threat of substitute products Bargaining power of suppliers - Bargaining power of suppliers A marketer selects the use of banner ads in order to achieve higher sales revenue. Which component of the marketing planning process is being represented by this action? Tactic Vision Mission Strategy - Tactic A company analyzes its internal and external environments, identifies the needs of its target market, and develops a plan for accomplishing its mission, objectives, and goals. Which component of the marketing planning process has the company developed? Tactical planning Marketing plan
Answering all questions from participants Avoiding plagiarism when gathering customer information - Maintaining data transparency Why should marketing researchers follow best practices for ethical considerations? Become more cost-efficient with practices and sales gains Support understanding of recent sales benefits and promotions Obtain the largest growth in marketing for a specific time period Ensure respect for respondents and integrity of the data collected - Ensure respect for respondents and integrity of the data collected A smartphone company has great brand loyalty but customers have become increasingly frustrated with the lack of new features. The company determines that adding new features will increase sales. Which growth strategy is the company using to achieve higher sales? Diversification Market penetration Market development Product development - Product development
An apparel company became the number-one provider in the U.S. New customers had switched to this company's clothing line instead of buying from competitors. Which strategic opportunity did the company use to achieve this goal? Diversification Market penetration Market development Product development - Market penetration A marketing manager for a U.S. puzzle factory plans to work with a t-shirt designer to add a puzzle t-shirt to his existing puzzle products to enter the Japanese market. Which growth strategy is being used by this company? Diversification Market penetration Market development Product development - Diversification What is a challenge of a Customer Relationship Management (CRM) system?
Value Brand Retention Customer - Brand A marketing department is reviewing a new Super Bowl ad for the company with the goal to reach the largest possible audience. Which marketing approach is being used? Mass marketing Personal selling Business-to-business Product differentiation - Mass Marketing A company needs to effectively reach the target market with the right products, services and messages. Company leaders suggest reducing the consumers into smaller groups to streamline the process. Which concept is being illustrated? Using strategies Market segmentation Consumer evaluation
Establishing promotions - Market segmentation Which component must the marketing team create to effectively target each segment of the consumer market? Fiscal plans Marketing mix B2B marketing plan Research and development - Marketing Mix Which action includes selecting a segment to serve as the focus of the marketing team's efforts? Mix Target Niche Differentiation - Target A realtor wants to sell luxury vacation homes and would like to identify potential buyers. What must the realtor understand to target this group?
