5 Notice in the marketing simulation with regard to cost of production, as the number produced (sold) increases the cost per unit decreases at an increasing rate. What is not a factor? economies of scale experience/learning curve volume discounts selective distribution Sales 7 Determining whether you use a rebate falls under what marketing strategy decision? Price Product Place Promotion Price and promotion 9 Everyone wants more for less. A lower price for the same goods is a powerful magnet for customers. What is the concern? It is counter to market penetration strategy Company value Support niche marketing Is not valuable to all consumers All are correct All are incorrect 11Selecting the number of sales personnel for training and therefore available for services falls under what marketing strategy decision? Price Product Place None are correct 15When your desired consumer compares features such as costs and benefits of your laptop, it represents which marketing concept? positioning segmentation targeting value proposition none of these answers are correct 16One of the challenges of the marketing simulation is even after you have created a successful marketing strategy for one quarter, the next quarter it could be a failure. Which marketing concepts are possibly affected? Point of parity Sustainable competitive advantage Point of difference Marketing strategy all of these answers are correct none of these answers are correct 17 In a SWOT analysis, a poor brand judgment represents what? Strength Weakness Threat Opportunity None are correct All are correct 18In a SWOT analysis, an increase in consumer demand for computers represents? Strength Weakness Threat Opportunity None are correct All are correct 19When reviewing the performance of a quarter which factors are likely to be considered? Sales Gross margin Number of consumers Coupon redemption All are correct None are correct 20When choosing the advertising design, the most effective and efficient design depends on? The customers The value created The message Cost of ad development and placement All are correct None are correct 22 If you are trying to sell to Mercedes, which would be the best feature to include? Low price Easy to use Can link with other computers After-sale service and support Fast and powerful Portability Fun to use Easy on eyes Able to store a lot of data Can work on multiple complex tasks 23 Using the marketing simulation research and the marketing simulation’s instructions on how to evaluate said research, select the two segments which would be the best option if you were attempting to design to a low to moderately price computer that could potentially be attractive/valuable to two of the segments? Mercedes and traveler Workhorse and traveler Mercedes and Workhorse all of these answers are correct none of these answers are correct 24 In the previous question you selected the best two segments to attempt to market with one computer. Which product feature represents the greatest threat? Service Portability Engineering software Manufacturing software Office All are threats None are threats 25 If you were attempting to design a product to satisfy both the workhorse and the traveler segments, how could I best save money on removing applications? Office Presentation Database Bookkeeping Engineering Manufacturing Games 28 What is considered the benchmark for a good brand judgment? 50 70 80 90 100 30 Which step is not really performed by the groups in the marketing simulation? Define the business mission Identify and evaluate opportunities Implement marketing mix and allocate resources Situation analysis None are correct 32 Which price judgment would you prefer? 75 80 95 100 105 33What is considered the minimum benchmark for a good ad judgment? 50 70 80 90 100 None are correct 35What is considered the minimum benchmark for a good market share? 50 70 75 80 90 100 None are correct 39Given the information below which strategy, what is the balanced scorecard score? Gross Profit =$ 100,000.00 Total Expenses = $ 200,000.00 Other Income = $ 10,000.00 Other Expenses = $ 10,000.00 Market Share (1st seg)= 15.00 Market Share (2nd seg)= 25.00 Highest Brand Judgement (1st seg) = 50 Highest Brand Judgement (2nd seg) = 75 Highest Ad Judgement (1st seg) =50 Highest Ad Judgement (2nd seg) =55 15 -15 27.5 -27.5 51 -51 40Increase advertising expenseGiven the information below which strategy does not seem to be a good one? Gross Profit =$ 100,000.00 Total Expenses = $ 200,000.00 Other Income = $ 10,000.00 Other Expenses = $ 10,000.00 Market Share (1st seg)= 15.00 Market Share (2nd seg)= 25.00 Highest Brand Judgement (1st seg) =50 Highest Brand Judgement (2nd seg) =75 Highest Ad Judgement (1st seg) =50 Highest Ad Judgement (2nd seg) =55 Switch second segment to first Cut expenses Keep first segment Redesign ads Increase advertising expense 44When firms successfully implement poor strategies (perhaps due to good luck) or do a poor job of implementing good strategies, it can be difficult to: generate cost-based performance ratios. evaluate performance and make adjustments. increase product excellence without reducing customer excellence. develop segmentation strategies. choose a business mission. 45 When increasing the number of sales offices firm is focusing on __________ value creation. product price promotion place financial 47When your group engaged in the following activities such as; have analyzed the current business situation, and then identified target markets for his firm’s personal care products. Finally, your group develops the products, prices, distribution and promotion that should appeal to each of those target markets. In doing so, In the process you believe you have created a value difference the other competitors don’t possess, your team has been developing: a business mission statement a strategic vision team-building exercises a marketing strategy competitive assessments 49In the hypothetical quarter 7 there was an option where your team could have a website. One of the options you could purchase was a “Share it!” button on the website. This button encourages a customer to post a link to a product page (perhaps showing a new style of jeans) on Facebook or Twitter. Your team’s goal would be that the customer’s friends (who are probably very much like current customers) will click the link, visit the page, and make purchases. This is an example of a ______ growth strategy. product proliferation market development market penetration diversification product development
5 Notice in the
marketing simulation with regard to cost of production, as the number produced
(sold) increases the cost per unit decreases at an increasing rate. What is not
a factor?
economies of scale
experience/learning
curve
volume discounts
selective distribution
Sales
7 Determining whether
you use a rebate falls under what
Price
Product
Place
Promotion
Price and promotion
9 Everyone wants more
for less. A lower price for the same goods is a powerful magnet for customers.
What is the concern?
It is counter to market
penetration strategy
Company value
Support
niche marketing
Is not valuable to all
consumers
All are correct
All are incorrect
11Selecting the number of sales personnel for
training and therefore available for services falls under what marketing
strategy decision?
Price
Product
Place
None are correct
15When your desired consumer compares features
such as costs and benefits of your laptop, it represents which marketing
concept?
positioning
segmentation
targeting
value proposition
none of these answers
are correct
16One of the challenges of the marketing
simulation is even after you have created a successful marketing strategy for
one quarter, the next quarter it could be a failure. Which marketing concepts
are possibly affected?
Point of parity
Sustainable
competitive advantage
Point of difference
Marketing strategy
all of these answers
are correct
none of these answers
are correct
17 In a SWOT analysis,
a poor brand judgment represents what?
Strength
Weakness
Threat
Opportunity
None are correct
All are correct
18In a SWOT analysis, an increase in consumer
demand for computers represents?
Strength
Weakness
Threat
Opportunity
None are correct
All are correct
19When reviewing the performance of a quarter
which factors are likely to be considered?
Sales
Gross margin
Number of consumers
Coupon redemption
All are correct
None are correct
20When choosing the advertising design, the
most effective and efficient design depends on?
The customers
The value created
The message
Cost of ad development
and placement
All are correct
None are correct
22 If you are trying to
sell to Mercedes, which would be the best feature to include?
Low price
Easy to use
Can link with other
computers
After-sale service and
support
Fast and powerful
Portability
Fun to use
Easy on eyes
Able to store a lot of
data
Can work on multiple
complex tasks
23 Using the
simulation research
evaluate said research, select the two segments which would be the best option
if you were attempting to design to a low to moderately price computer that
could potentially be attractive/valuable to two of the segments?
Mercedes and traveler
Workhorse and traveler
Mercedes and Workhorse
all of these answers
are correct
none of these answers
are correct
24 In the previous
question you selected the best two segments to attempt to market with one
computer. Which product feature represents the greatest threat?
Service
Portability
Engineering
software
Manufacturing software
Office
All are threats
None are threats
25 If you were
attempting to design a product to satisfy both the workhorse and the traveler segments,
how could I best save money on removing applications?
Office
Presentation
Database
Bookkeeping
Engineering
Manufacturing
Games
28 What is considered
the benchmark for a good brand judgment?
50
70
80
90
100
30 Which step is not really
performed by the groups in the marketing simulation?
Define the business
mission
Identify and evaluate
opportunities
Implement marketing mix
and allocate resources
Situation analysis
None are correct
32 Which price judgment
would you prefer?
75
80
95
100
105
33What is considered the minimum benchmark for
a good ad judgment?
50
70
80
90
100
None are correct
35What is considered the minimum benchmark for
a good market share?
50
70
75
80
90
100
None are correct
39Given the information below which strategy,
what is the balanced scorecard score?
Gross Profit =$
100,000.00 Total Expenses =
$ 200,000.00
Other Income =
$ 10,000.00
Other Expenses =
$ 10,000.00
Market Share (1st seg)=
15.00
Market Share (2nd seg)=
25.00
Highest Brand Judgement
(1st seg) =
50
Highest Brand Judgement
(2nd seg) =
75
Highest Ad Judgement
(1st seg) =50
Highest Ad Judgement
(2nd seg) =55
15
-15
27.5
-27.5
51
-51
40Increase advertising expenseGiven the
information below which strategy does not seem to be a good one?
Gross Profit =$
100,000.00 Total Expenses =
$ 200,000.00
Other Income =
$ 10,000.00
Other Expenses =
$ 10,000.00
Market Share (1st seg)=
15.00
Market Share (2nd seg)=
25.00
Highest Brand Judgement
(1st seg) =50
Highest Brand Judgement
(2nd seg) =75
Highest Ad Judgement
(1st seg) =50
Highest Ad Judgement
(2nd seg) =55
Switch second segment
to first
Cut expenses
Keep first segment
Redesign ads
Increase advertising
expense
44When firms successfully implement poor strategies
(perhaps due to good luck) or do a poor job of implementing good strategies, it
can be difficult to:
generate cost-based performance ratios.
evaluate performance and make adjustments.
increase product excellence without reducing
customer excellence.
develop segmentation strategies.
choose a business mission.
45 When increasing the
number of sales offices firm is focusing on __________ value creation.
product
price
promotion
place
financial
47When your group engaged in the following
activities such as; have analyzed the current business situation, and then
identified target markets for his firm’s personal care products. Finally, your
group develops the products, prices, distribution and promotion that should
appeal to each of those target markets. In doing so, In the process you believe
you have created a value difference the other competitors don’t possess, your
team has been developing:
a business mission statement
a strategic vision
team-building exercises
a marketing strategy
competitive assessments
49In the hypothetical quarter 7 there was an
option where your team could have a website. One of the options you could
purchase was a “Share it!” button on the website. This button
encourages a customer to post a link to a product page (perhaps showing a new
style of jeans) on Facebook or Twitter. Your team’s goal would be that the
customer’s friends (who are probably very much like current customers) will
click the link, visit the page, and make purchases. This is an example of a
______ growth strategy.
product proliferation
market development
market penetration
diversification
product development
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