MAR3803 week 5 quiz latest 2017
Question
Question 1
From Chapter 8 and Virtual Lecture 4 we learn that large, established firms find it difficult to invest in "disruptive" (discontinuous) innovation. They are far more comfortable investing in simple "sustained" (continuous) innovation to make minor improvements in existing products. For disruptive innovation to have its best chance of succeeding, an established company must:
Invest heavily in new ideas because the more they get out in the market, the more likely one of them will be profitable.
Focus on sustained innovation because the ROI is known and posses less risk to future profits.
Focus on disruptive innovation solutions that address unmet customer needs and which allow the company to create new, superior business models.
Closely monitor new product ideas coming to market to quickly identify winners that they can improve on through their innovation process.
Question 2
According to Chapter 9 and Virtual Lecture 4, the key driver of brand equity is:
how consumers perceive the brand and how the brand relates to consumer’s self-concept compared to competitors.
the advertising message of the brand.
the value of the brand in the eyes of shareholders.
The value of the brand on the balance sheet.
Question 3
Fidelity Corp. earned a 10 percent profit margin last year, and it wants to continue that margin next year. Unfortunately, Fidelity's costs have increased dramatically. In order to achieve its profit margin goal, it must increase its prices dramatically.Managers are worried that they will lose customers at the new pricing level. Which of the following strategies would help Fidelity to keep its customers, even with its new prices?
Target costing
Yield management
Price leadership.
Value pricing.
XXXXXXXX 4
XXXXX XXXXXXXXXXX earned a 6 percent XXXXXX margin XX its XXXXX last year, XXX XXXXX XXX brand XXX XXXXXXX that it has XXXXXXXXXX to earn a 10% XXXXXX margin next XXXX. Which of the XXXXXXXXX XXXXXXX objectives has Sharp XXXX?
Skimming
Value
XXXX-plus.
Target XXXXXXX
XXXXXXXX X
XXXX Yellowhair XXXXX small XXXXXX handbags out of XXXXXXXXX XXXXXXXX, and has fixed XXXXX XX $XX,XXX. XXX XXXXXXX XX XXXX X,000 XXXX for $17.50 XXXX. This XXXXX will XXXX her a 20 XXXXXXX markup. Calculate the XXXXXXXX XXXXX per XXXXXXX.
$6.XX
$X.XX
$X.XX
$X.00
6,XXX X XX.50 =$105,XXX
XX% XXXXXX XXXXXX $105,XXX X 0.X = $XX,XXX
XXXXX XXXXX $84,000 - $30,000 = $XX,XXX
$54,XXX / X,XXX = $9.XX
Question X
X manufacturer that gives its high XXXXXX retailers a discount off XX XXXXX XXXX is XXXXXXXXX XXXXXXXXX with:
a wholesaler margin XXXXX
a trade XXXXXXXX or promotional allowance
a cash XXXXXXXX or XXXXXXXX margin price
an XXXXXXXXXXX allowance or seasonal discount
XXXXXXXX X
Courtyard XX Marriott XX a corporate name combined XXXX an XXXXXXXXXX XXXXXXX name. XX XX also called a sub-XXXXX. XXX did Marriott XXXXXX XX sub-brand its extended XXXX XXXXX brand?
Because XXX Marriott XXXX is XXXXXXX registered XX a trademark XXX a certain XXXX of XXXXX.
XXXXXXX Courtyard offers XXXXXXXXX XXXXXXX XXXXXXXX, XXX Marriott still wanted customers of Courtyard XX associate XXXXXXXXX with XXX XXXXXXXX XXXXXXXX XXXXX name.
Because XXXXXXXXX XX a XXXXXX name to describe XXX kind of service customers XXX XXXXXX.
Because Marriott wanted XX XXXX line XXXXXXXXXX and be viewed as a major XXXXX conglomerate.
XXXXXXXX 8
XXXXX XX cutting XXX XXXXX XX its digital camera 10%, XXXX $XXX to $225, XXXXXXX XXX XXXXXXX XX XX XXX latter end of its XXXX XXXXX. XX XXX XXXXXXXX $250 XXXXX, XXXXXXX cameras XXXXXX a 20% XXXXXX margin XXXX 80% total costs. XXXX does this price XXX XX XX the product's XXXXXX margin?
Cuts it XX 20% XXXX $XX to $40.
XXXX it in XXXX from $50 to $XX.
Cuts it by XX% from $50 to $XX.
Increases profit XX selling XXXX XXXXXX.
The XXXXXX margin XX XX%. .20 X $250 =$XX. So the $XX price cut reduces XXX $XX XX $XX
Question X
X XXXXXXXXX provider XXXX expertly XXXXXXXX the XXXXXXXX that XXXXXXXX need most -- great educational XXXXXXXX in a XXXX/XXXXXX environment -- should XXX be concerned about being in conflict with its consumers' preferences for convenience XXX XXXXXXXXX.
XXXX
False
Question 10
XX XXXXXXXXX, the XXXX "XXXXX of XXXXXXXXXX" (XXX) means:
a XXXX XXXX uses XXXXXX XX XXXXXX (XXX) to compete effectively XXXXXXX XXXXX XXXXXXXXXXX
a XXXX XXXX creates a XXXXXXXX XXX better value XXXXXXXXXXX XXXX its competitors and XXXX is XXXX XX XXXXXXX XXXXXXXX customers.
a firm's capabilities and XXXXXXXXX XXXX XXX different XXXX those XX its competitors.
the XXX XX a contingency or XXXXXXXXXXX marketing XXXX when the firm's XXXXXXXX marketing plan is not performing XX XX XXXXXXXXXXXX.
Question 11
XXX do new XXXXXXXX XXXX?
Because XXXX products today have longer product XXXX, there XX XXXX XXXX for new products.
Marketers XXXX to underestimate the market XXXX XXX XXXXXXXXXXXXX XXXXXX which XXXXXXX in XXXX XXXXXXXXX.
Because new XXXXXXX XXXXXXXXXXX doesn't effectively XXXXXXXX XXX "job-to-be-done" of XXX target audience.
XXXXXX XXX governmental XXXXXXXXXXX have significantly XXXXXXXXX XXX product XXXXXXXXXXX costs XXXXXX it harder for XXX XXXXXXXX XX succeed.
Question XX
If you add a new XXXXXXX to your All XXXX XXXXXXX XXXXXXXXX, you must XXXXX your XXXXXX carefully, in fact you XXXX XXXXXX XXXX XXXXXX for marketing All round XX allocate some of your XXXXXXXX XXXXXX XXX XXX XXX XXXXXXX.
XXXX
False
XXXXXXXX 13
XXXX XX uses a XXXX-step process called XXXXX (define, XXXXXXX, analyze, improve, and XXXXXXX) XX XXXXXXX XXXXXXX it XX XXXXXXX in XXXXX of XXX following processes?
Total XXXXXXX management (XXX)
ISO XXXX
XXX Sigma
Cannibalization strategy
XXXXXXXX XX
XXX XXXXXX XXXXXXX marketed a XXX product XXXXXX Clorox XXXXXX Action multipurpose XXXXX XXXXXXXX. This XX an example of a brand extension.
XXXX
False
Question XX
Price is XXX only XXXXXXX XX XXX XXXXXXXXX XXX (XXX) XXXX produces revenue. The other three elements XXXXXXX XXXXX.
True
XXXXX
Question 16
XXXXXX has a goal XX increase the XXXXXXX XX their XXXXXXXXX. As a XXXXXXXXX XXXXXXX for XXXXXX, you XXXXXXXXX XXXX XXXXXXXXXXX customer XXXXXXX that exceeds XXXXXXXX XXXXXXXXXXXX XXXX XXXXX greater customer loyalty. XXXXX of XXX XXXXXXXXX XXXXXX XXXXX XXXXX XXXX Amazon achieve XXX XXXX?
inform your XXXXXXXXX XXXX customer service will XX exceptional.
develop an XXXXXXXXXXX XXXXXXXX XXXXXXX XXXXXXXXXXX strategy XX part XX XXXXXX's corporate XXXXXXXX.
ensure XXXX the "product" part of XXX 4P value chain XXXXXXXX a XXXXXXXX XXXXXXX XXXXXXXX that exceeds customer XXXXXXXXXXX XXX is monitored XXXXX XXX XXXX-XXXXXXX.
XXXX answers X XXX X XXX XXXXXXX in XXX context XX this XXXXXXXX.
XXXXXXXX XX
Brand positioning is all about XXXXXXXXXX a strong point XX XXXXXXXXXX (XXX) and brand personality XXXXXXXX to XXXXXXXXXXX.
XXXX
False
XXXXXXXX 18
Blue Cross Blue XXXXXX is XXX leading XXXXX in XXX XXXXXX insurance market. It XXXXX its reputation XX XXXXXXXXXXXXXXX in two XXXX: X) XXXXXXXX XXX XXXXXXX/XXXX XXXXXXXX of XXXXXXXXX XXX X) XX XXXXXX XXXXXXXX XXXXXXX XX its customers. If XXXX XXXXXX XXXX one XXXXX-XX-XXXXXXXXX (POD) and XXX point-of-XXXXXX (POP), XXXXX XX XXX XXXXXXXXX XXXXX best describe its POD XXX XXX XXX, compared XX its competitors?
POD: XXXXXXXX XXXXXXXX service
POP: best network XX providers
POD: best network of XXXXXXXXX
XXX: XXXXXXXX customer service
XXX: XXXX product XXXX serving all XXXXXXXXX
POP: superior XXXXXXXX XXXXXXX
XXX: XXXXXXXX XXXXXXXX XXXXXXX
POP: XXXX product line XXXXXXX XXX customers
XXXXXXXX XX
X company XXXXXXXXX a unique XXXXX personality XXX XXX XXX product that is XXXXXXXXX XXXX XXX XXXXX personality of competitive products should:
create TV XXX that XXXXXXXXXXXXX XXX XXX product.
invite a cross-XXXXXXX of XXXXXXXXXX XX work in a task XXXXX to develop a brand XXXXXXXXXXX XXXX for XXX XXXXXXX.
XXXX a naming XXXX XX develop a unique XXXX XXX XXXXXXXXXXX XXX the new XXXXXXX.
create a XXXXXXXXXX brand map that visually describes where XXXXXXXXXXX XXXXXXXX are located in XXXXXXXXX' minds in hope of finding an XXXXXXXXXXX to XXXXXXXXXXXXX.
Question 20
XXX XXXX XXXXXXX XX XXXXXXXX XXXXXXXX in comparison XX Japanese products in the 1980s led to XXX XXX XXXXXXX revolution in XXXXXXXX XXXXXXXX.
True
False
XXXXXX
X. XXXXX on XXXXXXXXXX XXXXXXXXXX solutions XXXX XXXXXXX unmet XXXXXXXX needs and XXXXX XXXXX XXX company to XXXXXX XXX, XXXXXXXX business models.
X. how XXXXXXXXX XXXXXXXX the XXXXX and how XXX XXXXX relates to XXXXXXXX’s XXXX-concept compared to XXXXXXXXXXX.
3. XXXXXX XXXXXXX
4. Skimming
5. $9.00
$8.XX
6,000 X XX.50 =$105,000
XX% profit margin $XXX,000 X X.8 = $XX,000
XXXXX XXXXX $84,000 - $30,000 = $54,XXX
$XX,000 / 6,000 = $9.00
6. a XXXXX discount or promotional XXXXXXXXX
X. Because Courtyard XXXXXX XXXXXXXXX product XXXXXXXX, but XXXXXXXX still XXXXXX XXXXXXXXX XX Courtyard to associate Courtyard with the XXXXXXXX Marriott brand XXXX.
8. XXXX it in half from $XX to $XX.
The XXXXXX margin XX XX%. .20 X $XXX =$XX. So XXX $25 price XXX XXXXXXX the $XX to $XX
X. XXXXX
XX. a XXXX that creates a XXXXXXXX and better XXXXX proposition than XXX competitors XXX that is used to attract XXXXXXXX customers.
11. XXXXXXX new XXXXXXX development doesn't effectively XXXXXXXX the "XXX-XX-XX-done" of the target XXXXXXXX.
12. False
13. Six XXXXX
14. True
15. True
16. XXXX answers X XXX X are correct in the XXXXXXX of this question.
17.XXXX
XX. POD: superior XXXXXXXX XXXXXXX
POP: deep product line serving all customers
XX. XXXXXX a XXXXXXXXXX brand map XXXX XXXXXXXX XXXXXXXXX XXXXX competitive products XXX located in consumers' XXXXX in XXXX of finding an XXXXXXXXXXX XX differentiate.
XX. XXXXX
">