Question 1

Precious Moments is a manufacturer of collectible ceramic figurines.Its variable cost to produce one figurine is $12.It then sells these figurines to a distributor for $25 each.The distributor sells the figurines to specialty retailers for $35 each.The retailer sets the selling price to the consumer at $60. What is the mark up % for Precious Moments and the margin % for the retailer?(round up to the nearest whole number)

Group of answer choices

109% and 52%

109% and 42%

40% and 29%

72% and 52%

72% and 42%

Question 2

Cessna is considered the volume leader in the executive-jet market. It has been described as "almost totally vertically integrated." This means that Cessna:

Group of answer choices

Has achieved a high level of social responsibility.

Owns several of the entities that would make up the traditional marketing channel.

Does not fall under the jurisdiction of any federal regulatory agency.

Uses outsourcing for all component parts and materials.

Has eliminated economies of scale.

Question 3

Which of the following would be the best target market for Dead & Company (the current version of the old rock n roll band The Grateful Dead) tickets at Folsom Field?

Group of answer choices

All people who've seen the Grateful Dead before

All men who were in a high school band

All people in the Rocky Mountain West who listen to Spotify

All people in or near Boulder interested in music

Millennials

Question 4

The use of fear in advertising:

Group of answer choices

Is more effective when the fear is high but consumers can affect their risk

Is more effective if the ad is scarierand the risk is not controllable

Creates anxiety in consumers that harms brand loyalty

Increases attention and loyalty

Has not proven to be effective inreducingsmoking

Question 5

You are the Chief Marketing Officer of a highly-profitable, successful U.S. business producing an energy powder made from a unique local ingredient.You want to enter the Eastern European market next, where there are no similar companies currently operating.You have significant experience marketing in Eastern Europe and your U.S. manufacturing plant is operating at capacity.Based on these circumstances, which is the best market entry strategy?

Group of answer choices

Initial Public Offering

Exporting

Joint Venture

Foreign Direct Investment

Licensing

Question 6

When Burton began to sell skateboards, this is an example of a ______________ that represents which type of strategy on the Ansoff matrix?

Group of answer choices

Sub-Branding; Diversification

Line Extension; Product Development

Brand Extension; Product Development

Mixed Branding; Market Penetration

Line Extension; Market Development

Question 7

Drug marketers commonly advertise drugs to consumers, drugs that require a prescription from a physician in order for consumers to buy them. This practice is most related to:

Group of answer choices

A push strategy

Vertical integration

A pull strategy

Strategic distribution alliance

Channel conflict

Question 8

Breath mints, bottled water, and candy bars would most likely use which type of distribution density?

Group of answer choices

concentrated distribution

Intensive Distribution

exclusive distribution

concentric distribution

selective distribution

Question 9

Each month, the owner of a carwash pays $2,500 in rent, $500 in utilities, $750 interest on a business loan, an insurance premium of $200, and $250 on advertising on local bus routes. A carwash is priced at $10.50. Unit variable costs for the carwash are $7.50. At what level of total monthly revenue dollars will the carwash break even?

Group of answer choices

$4,200

$14,700

$10,500

$39,900

$30,000

Question 10

In introducing the iPod, Apple had the following circumstances: 1) variance across multiple segments in terms of price sensitivity with substantial segment sizes at higher price levels, 2) barriers to entry for competition, and 3) poor economies of scale.Thus, which of the pricing strategies below would be best?

Group of answer choices

Experience curve

Penetration

Prestige

Skimming

Social

Question 11

If you stay in one of the hotels on the property of Disney World in Orlando, your "ticket" to enter the park and ride the attractions (e.g. roller coasters, live shows, etc.) comes in the form of a "Magic Band" that you wear on your wrist and scan to enter the park and attractions.The Magic Band also allows you to scan for any purchases of food, clothing, or other merchandise that Disney sells and these purchases will be automatically added to your hotel bill.This charging of extra purchases on your "ticket" is an example of ______ utility:

Group of answer choices

Time

Form

Cost

Possesion

Place

Question 12

An example of a(n) __________ is when Kraft Foods uses the distribution system of Ajinomoto, a major Japanese food company, to market its Maxwell House coffee in Japan.

Group of answer choices

Strategic channel alliance

Franchising operation

Industrial distribution system

Dual distribution system

Direct marketing channel

Question 13

Volkswagen autos produces the Volkswagen Passat, the Volkswagen Jetta, and the Volkswagen Beetle. This is an example of:

Group of answer choices

brand extensions

line extensions

mixed branding

multi-branding

sub-branding

Question 14

In the article "Coke Targets Foodies", the foodies segment consists of consumers who prefer healthy, home-cooked meals or higher-quality, upscale cuisine.Which segmentation basis would be most relevant in defining the foodies segment?

Group of answer choices

Geographic

Descriptive

Behavioral

Psychographic

Demographic

Question 15

Which of the following is the best pairing of the product life-cycle and advertising strategy:

Group of answer choices

Growth; Institutional

Maturity; Pioneering

Introduction; Comparative

Decline; Pioneering

Growth; Comparative

Question 16

The accounting asset "goodwill" in the financial statements of one company that has acquired another company is related to the marketing concept of:

Group of answer choices

Direct investment

Product utility

Social responsibility

Brand equity

Disintermediation

Question 17

You have just learned that the person sitting next to you on your flight to Atlanta paid less than you did for airfare, even though you booked your flight first. This is most likely due to the fact that the airline follows a pricing practice of:

Group of answer choices

yield management

penetration

loss leader

skimming

bundling

Question 18

What kind of channel conflict did we identify in our class discussion of the article "Dr. Pepper vs Dr. Pepper"?

Group of answer choices

Ethical conflict

Horizontal conflict

Horizontal and Vertical Conflict

Vertical conflict

Retailer conflict

Question 19

Emily and her father are out shopping at CarMax for a new car for Emily. Emily's family is originally from Milwaukee, Wisconsin. As they are looking at different vehicles, Emily's father says: "I would recommend you get a Toyota because Japanese cars are known to be reliable and fuel efficient." Emily turns to her father with a surprised look on her face and says: "Dad, you know I would never buy a car that isn't American!" Emily's behavior would be considered an example of ________, while her father's behavior would be considered ________

Group of answer choices

Cultural ethnocentrism; Country of origin effect

Trade Feedback Effect; Power Distance

Country of origin effect; Cultural ethnocentrism

Cultural semiotics; Country of origin effect

Moral idealism; Cultural Ethnocentrism

Question 20

Forever Quilting is a company that designs and distributes quilting kits. The kits are priced at $120 each. The costs of the materials that go into each kit are $45 and it costs $5 in labor to assemble a kit. The company has monthly expenses of $1,000 for rent and insurance, $200 for heat and electricity, $500 for advertising in quilting magazines, and $3,500 for the monthly salary of its owner. Forever Quilting's breakeven quantity is (round up to the nearest whole number):

Group of answer choices

60

70

75

80

44

Question 21

In our class example about the Apple iPhone, we discussed the definition of a product as a(n):

Group of answer choices

Bundle of benefits

Good or a service

Innovation for an unknown problem

Disruptive innovation

Collection of features

Question 22

Jake is going to ask his girlfriend, Marla, to marry him. He wants to buy her a Tiffany diamond ring and goes to a local jewelry store in Boulder to pick out the perfect ring. However, to his surprise, the jeweler tells him that they do not sell Tiffany rings. The only place Jake can buy a Tiffany ring is at a Tiffany store. This is an example of:

Group of answer choices

Horizontal distribution

Selective distribution

Concentrated distribution

Exclusive distribution

Intensive distribution

Question 23

Periodically throughout the year, 1-800-Flowers places the below ad in various print and digital publications.What type of ad is this?

Group of answer choices

Pioneering product

Reminder product

Reminder institutional

Advocacy institutional

Pioneering institutional

Question 24

Fair Life Milk, a new product, has 50% more protein, 50% less sugar, and 30% more calcium than regular milk, and is lactose free.This is an example of a _________ consumer product that is ________ innovation.

Group of answer choices

Convenience; Dynamically Continuous

Specialty; Discontinuous

Convenience; Continuous

Shopping; Discontinuous

Shopping; Dynamically Continuous

Question 25

Tesla Motors is being sued by several states due to their distribution model. Rather than use dealerships, customers can see the cars in a show room format and order a Tesla online, directly from themanufacturer. This is an example of a ________________ strategy.

Group of answer choices

Horizontal Channel

Dual Distribution

Disintermediation

Strategic Channel Alliance

Backward Integration

Question 26

Jane Westerlund owns a picture-framing shop; she is currently selling 140 framed pictures per month.The price she receives for a picture she frames for a customer is $120.Her costs for a framed picture are $5 for glass, $2 for matting, $13 for framing, and $30 for labor.Her monthly expenses are $1,000 for rent and insurance, $200 for heat and electricity, $500 for advertising, and $3,500 for her salary.Assuming everything else stays the same, if Jane increases her monthly advertising to $2,000, how many more framed pictures must she sell in order to maintain the same level of profitability?Round your final answer up to the nearest whole number.

Group of answer choices

22

17

14

65

29

Question 27

AirBNB, the vacation rental and home sharing platform, now offers "AirBNB Experiences." Local hosts can offer tours and excursions to current users of AirBNB that are seeking an immersive experience and a unique adventure.This is an example of:

Group of answer choices

Diversification

Market Development

Product Development

None of These

Market Penetration

Question 28

A researcher takes 200 people and randomly assigns 100 to one room, and the other 100 to the second room. The researcher shows the 100 people in one room a description of a Samsung television with all its features, and asks them how much they would pay for it. In the second room, the researcher shows the other 100 people an identical television in every respect, except that no brand name is given for the television. The researcher also asks these people how much they would pay for it.Which type of study is being conducted?

Group of answer choices

An exploratory study

Causal research

A survey

A perceptual mapping study

A descriptive study

Question 29

The legal counsel for Coors brewing is reviewing the company's tagline, "Cold as the Rockies".In understanding whether this tagline would be considered puffery or deception, the lawyers must primarily consider:

Group of answer choices

How many testing agencies possess thermometers capable of testing the coldness of the Rockies during winter months?

Would the tagline, if shown in a television commercial, be viewed by those under the age of 21?

Is the "Cold as the Rockies" statement made by other competitive beers?

Would a reasonable person believe this claim as stated?

Is the product brewed in the Rocky Mountain region?

Question 30

Safeway required that Birds Eye pay $15,000 to get its new Vegetable Quinoa Pilaf placed at eye-level on the shelf in the center case of the frozen vegetable freezer section of its supermarkets. This payment is an example of the ________ sales promotion tool of _______:

Group of answer choices

consumer;point of purchase display

trade;buying allowance

consumer;sampling

trade;co-op advertising

trade; slotting fees

Question 31

The ad below is a(n) ______________ ad that is using a(n) ___________ appeal:

Group of answer choices

Competitive institutional; humor

Pioneering product; emotional

Advocacy institutional; emotional

Comparative product;humor

Pioneering institutional; humor

Question 32

According to the United Airlines SPARK discussion, when dealing with negative publicity it is best to:

Group of answer choices

Promote your social mission and related activities

Recognize that your employees are the most important stakeholder

Apologize quickly and identify solutions

Change the topic quickly to get ahead of the competition

Remain silent so you don't inflame the situation

Question 33

The Apple Series 3 Watch, with its different styles with different features, is an example of the product proliferation that occurs to help differentiate a company's brand from competitors in the ______ stage of the product lifecycle.

Group of answer choices

Maturity

Harvest

Growth

Introduction

Decline

Question 34

Which of the following will directly result in an increase in your breakeven quantity?

Group of answer choices

You sign up ten new retailers to distribute your product

Effective marketing to increase demand inelasticity

The minimum wage is increased to $15/hour; above your current pay rates

A key competitor enters the market

A key supplier informs you of a price decrease

Question 35

You are a Marketing Manager for Lululemon yoga and athletic apparel.Unfortunately, due to the rising cost of cotton, your profits are declining for your best-selling yoga pants. Based on the WSJ article, "How Companies Can Get Smart About Raising Prices", which of the following should you pursue to offset this reduction in profits?

Group of answer choices

Leave prices as-is and reduce the length of your pants from a 32" inseam to a 31.5" inseam to save cost.

Discontinue the 30% off coupon you're currently offering for the pants.

Raise your price for the pants from $59.99 to $69.99. Publish a press release making consumers aware of cost-drivers underlying your price increase decision.

Quickly and quietly raise the price of the pants from $59.99 to $69.99 to avoid customer backlash.

None of these

Question 36

The research shared in Malcolm Gladwell's TED talk on Moskovitz' research supported which of the following segmentation approaches for the spaghetti sauce industry?

Group of answer choices

Demographic segmentation

Multiple products, multiple segments

One product, multiple segments

Mass customization

No segmentation

Question 37

Per an assigned reading for class, Triple 8 Vodka offered athree-daybeach party in Nantucket for bartenders who sold significant amounts of their brand during a defined time period. This is an example of which of the following?

Group of answer choices

Direct Marketing

Vertical Marketing System

Push Strategy

Vertical Channel Conflict

Pull Strategy

Question 38

This advertisement is an example of a _________________ ad which is used during the _________________ stage of the product lifecycle.

Group of answer choices

Competitive institutional, growth

Reminder product, maturity

Competitive product, growth

Reminder institutional, maturity

Comparative product, maturity

Question 39

"For everyday people with a busy life, Dunkin' Donuts is the coffee shop that gives you the fuel to get things done every day, because it has a rich heritage of serving good quality coffee fast and at a reasonable price."This is:

Group of answer choices

Repositioning

A positioning statement

A perceptual map

Brand equity

Consumer value

Question 40

Gatorade, a 50-year-old brand with wide distribution in the low-growth non-alcoholic beverages category, is most likely a__________ in a BCG portfolio analysis and is mostly likely in the ________ stage of its product lifecycle.

Group of answer choices

Cash cow; harvest

Dog; divest

Dog; mature

Dog; decline

Cash cow; mature