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Ohio University, Athens MKT 3020 CHAPTER 2 1)As the manager of a leading banking institution, Bijou tracks detailed information about the bank’s clients

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Ohio University, Athens

MKT 3020

CHAPTER 2

1)As the manager of a leading banking institution, Bijou tracks detailed information about the bank’s clients. He does this in order to make more client-oriented decisions. He is involved

in            .

a.            Marketing Management

b.            Internal Marketing Management

c.             Consumer Value Management

d.            Customer Relationship Management

e.            Quality Management

 

2.            Amy is a member of the readers’ club in her school. Before she buys any new book, she checks what is popular with the others in her club. Amy’s reader’s club is part of her     that influences Amy’s everyday experiences.

a.            Situational Influence b. Social Environment

c.             Relationship Network

d.            Emotional Environment

e.            Internal Influence

 

3.            Natalie and her friends enjoy visiting upscale stores together even if they do not purchase anything. For them, the experience of shopping is an end in itself, not just a means to an end. While shopping, which of the following types of values do Natalie and her friends experience?

a.            Augmented Value

b.            Experiential Value

c.             Pleasure-seeking Value d. Hedonic Value

e. Utilitarian Value

 

4.            While buying a car, a potential buyer takes into consideration several aspects of the car, such as its design, quality, ease of servicing and mileage. An automobile company, that takes into consideration all these aspects while manufacturing and selling its cars, is said to be practicing… a. Total Value Concept

b.            Multifaceted Product Design

c.             Augmented Product

d.            Value Marketing

 

5.            Andrea purchased an Apple iPad and an extended warranty. She also purchased a gaming application specially designed for Apple iPad. The application purchased by Andrea, is an ex of a

                product.

a.            Segmented

b.            Complete c. Augmented

d. Extended

e. Terminal

 

6.            Tide is the most popular laundry detergent in the US. Some likely factors that are included in Tide’s total value: clean clothes, convenience, + feelings associated with nostalgia. (eg reminds

 

me of the smell of home), + feelings associated with trust (eg will not ruin my favorite clothes) and – feelings associated with price.

 

7.            Prime’s is a company that manufactures and markets suits for pro kayakers. These consumers are predominately males age 25-45. This market segment that Prime’s serves with a specific marketing mix is called                .

a.            Product Differentiation

b.            Optimum Market

c.             Marketing Mix d. Target Market

e. Market Differentiation

 

8.            Products can be differentiated in a number of ways. The Kindle fire ad that compares themselves to the iPad mini using the tagline “Much More for Much Less” is attempting to differentiate the Kindle fire based upon:

a.            Value

b.            Function

c.             Packaging

d.            Quality

 

9. What do the x- and y-axes on a perceptual map represent?

a.            Growth rate of the market and market shares of each competitor

b.            Dimensions used to separate competitors on a specific characteristic

c.             How competitors perform on the two most important attributes to consumers—price and quality.

d.            The ideal combo of attributes and the actual combo of attributes of all competitors in the market

I had C…

 

10. Assume that an avg family of 4 (ie household) shops twice a week at Kroger. On average, a household spends $200 per week or $10,400/year. Assume that Kroger has an operating margin of 6% (ie average costs of goods sold is 94%). The average lifetime of a customer is ten years.

What is the Customer Lifetime Value for the average household customer at Kroger

a. $624

b. $104,000

c. $5,200 d. $6,240 e. $10,400