Marketing (MKT3151.E1)

Assignment 2

 

NAME: Type your name here

 

DIRECTIONS

· There is a total of 22 questions related to your reading and videos.

· 20 questions are multiple choice and are worth 4 points each.

· 2 questions are short answer and are worth 10 points each.

· Respond to each of the questions by typing an “X” in the field to the left of your answer.

· Please “Save As” this file and include your name in place of “worksheet” before you upload to Moodle (file should be named: MKT3151_Assignment2_LastNameFirstName.doc)

 

 

Question 1

Simply stated, marketing is really about _____________.

 

	Increasing profits for a company.
	Finding new territories to sell products.
	Solving problems and creating value.
	Building relationships and retaining customers.

 

 

 

Question 2

Businesses use promotions to _________.

 

	Remind customers of why they may want to buy a product.
	Ensure customers are aware of a product.
	Persuade customers a product is better than a competitive product.
	All of the above

 

 

 

Question 3

One of the main concerns a business may have with a deep or wide product mix is that it can result in _______.

 

	Higher costs for promotions.
	Cannibalization of sales.
	Challenges finding the right retailers.
	Conflicts in pricing.

 

 

 

Question 4

In the article about applying the marketing mix to non-profits, the authors suggested the following tactic to attract organ donors.

 

	Provide donor testimonials that tell the story of the process.
	Eliminate or quickly eliminate costs incurred for making an organ donation.
	Provide the information required for transplant consideration such as blood type and other health metrics.
	All of the above

 

 

 

Question 5

Which best describes a metered pricing plan for streaming services?

 

	Price plan is based on a certain volume of shows to be viewed.
	Price plan is based on unlimited viewing.
	Price plan is based on a select line of packages to be viewed.
	Price plan is based on a hybrid of a line of packages of shows and a certain volume.

 

 

Question 6

Toothpaste would be classified as a ___________ type of product.

 

	Specialty product
	Unsought product
	Convenience product
	Shopping product

 

 

 

Question 7

Which 3 key areas can a marketing team create customer value?

 

	Personalization, Collaboration, Standardization
	Interaction, Knowledge, Sustainability
	Price, Product, Promotion
	Exchange, Experience, Engagement

 

 

 

Question 8

Sandra and John are starting a business selling solar panels; what key question below will influence their distribution decisions?

 

	Should we offer a payment plan for our product?
	Should we advertise our product on social media?
	Should we add the installation cost to the panel cost or price separately?
	Should we sell our product direct or use intermediaries?

 

 

 

Question 9

Which of the following is NOT a product category for Business-to-Business (B2B)?

 

	Installation
	Accessory equipment
	Consultation
	Raw materials

 

 

 

Question 10

Price skimming requires ____________.

 

	A high-quality product and brand image.
	Setting prices below the competitor’s price.
	A deep and wide product line.
	Intermediaries to sell the product.

 

 

Question 11

Distribution is also known as ______________ in the marketing mix.

 

	Product
	Price
	Promotion
	Place

 

 

 

Question 12

Cost-based pricing is defined as ____________.

 

	Pricing influenced mainly by competitor’s prices.
	Pricing based on the level of demand for the product.
	Pricing derived by adding a dollar amount or percentage to the cost of the product.
	Pricing based on tiers of product categories.

 

 

 

Question 13

Direct mail can be part of a company’s ____________.

 

	Product mix
	Pricing mix
	Promotional mix
	Distribution mix

 

 

 

Question 14

Setting prices below those of competing brands to gain a significant market share quickly is what type of pricing strategy?

 

	Captive pricing
	Secondary-market pricing
	Customary pricing
	Penetration pricing

 

 

 

Question 15

In the distribution marketing channel, which of the following is considered an intermediary between the producer and the consumer?

 

	Direct seller
	Wholesaler
	Manufacturer
	Supplier

 

 

Question 16

An unsought product is a ________________.

 

	Good or service consumers want frequently, immediately and to buy with minimal effort.
	Good or service with unique characteristics that cause buyers to prize a particular brand.
	Good or service consumers buy after comparing offerings.
	Good or service marketed to consumers who do not yet recognize a need for them.

 

 

 

Question 17

“Buy one, get one free” is a ___________ and part of a company’s __________.

 

	Sales promotion | promotional mix
	Pricing strategy | pricing mix
	Product differentiator | product mix
	Placement tactic | distribution or channel mix

 

 

 

Question 18

Which one of the areas of the marketing mix can be changed as quickly as overnight?

 

	Product
	Price
	Promotion
	Place

 

 

 

Question 19

A vending machine is an example of which type of non-store retailing?

 

	Direct selling
	Direct-response retailing
	Automatic merchandising
	Internet retailing

 

 

 

Question 20

A key consideration that influences promotional decisions for a product is __________.

 

	Whether or not a celebrity endorsement can be obtained.
	Which stage of the product lifecycle the product is in.
	How much consumers are willing to pay for a product.
	All of the above

 

 

 

 

Questions 21 and 22 are short answer; 10 points each.

 

Question 21

Arm & Hammer has been selling baking soda for more than 100 years because they have been able to extend the lifecycle of the product by coming up with new ways to use the baking soda ranging from household tasks, cooking, cleaning, pet care and personal care.

 

Think of a product whose lifecycle you believe could be extended by finding new uses. Name the product and briefly describe your ideas on how the lifecycle could be extended. NOTE: “brief” means one or two short paragraphs is sufficient.

 

 

 

 

 

 

 

 

 

 

Question 22

In the article, “Sell direct-to-consumer or through Amazon” two expert and opposing views were presented:

· Stephan Aarstol stated Pedalspark should sell on Amazon.

· Gil Efrati stated Pedalspark should wait to sell on Amazon until they build up a more recognizable brand.

 

Briefly describe which view do you think is the better advice for Pedalspark and why. NOTE: “brief” means one or two short paragraphs is sufficient.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Please “Save As” this file and include your name in place of “worksheet” before you upload to Moodle (file should be named: MKT3151_Assignment2_LastNameFirstName.doc)

 

2

 

1

 

 

Marketing (MKT

3151

.E1)

 

Assignment 2

 

 

NAME:

 

Type your name here

 

 

DIRECTIONS

 

·

 

There is a total of

22

 

questions related to

 

your reading and videos

.

 

o

 

20

 

questions are multiple choice and are worth 4 points each.

 

o

 

2

 

questions are short answer and are worth

10

 

points each.

 

·

 

Respond to each of the questions by typing an “X”

in the field

to the left of

your answer.

 

·

 

Please “Save As” this file and include your na

me in place of “worksheet” before you upload to

Moodle (file should be named: MKT

3151

_Assignment

2_

LastNameFirstName.doc)

 

 

 

 

1

 

Marketing (MKT3151.E1)

Assignment 2

 

NAME: Type your name here

 

DIRECTIONS

 There is a total of 22 questions related to your reading and videos.

o 20 questions are multiple choice and are worth 4 points each.

o 2 questions are short answer and are worth 10 points each.

 Respond to each of the questions by typing an “X” in the field to the left of your answer.

 Please “Save As” this file and include your name in place of “worksheet” before you upload to

Moodle (file should be named: MKT3151_Assignment2_LastNameFirstName.doc)