Quiz #1 >> Introduction to Marketing
1. Here is an example of a positioning statement for Volvo: “For upscale American families, Volvo is the family automobile that offers maximum safety.” In this example, what serves as the frame of reference for the positioning statement?
- Unsafe cars
- Other family automobiles
- Upscale American families
- The claim of maximum safety
- Volvos
2. Which of the following is NOT an element of the marketing mix?
- Product
- Place
- Price
- Promotion
- Population
3. As the US has become more health conscious, we have seen many fast food chains like McDonalds and Burger King introduce healthier offerings like grilled chicken and salad options. This is an example of what course concept?
- Competitive Points of Parity
- Category Points of Parity
- Competitive Points of Difference
- Category Points of Difference
4. When Steve Jobs updated his company name from Apple Computer to Apple in 2007, which part of the brand positioning was he changing?
- Target segment
- Point of difference
- Frame of reference
5. Which of the following is NOT TRUE about the Generation Y cohort?
- They were born between 1977 and and 1997.
- They appreciate free content, access to wireless internet, and customization.
- They account for 30% of the population.
- They are independent and don’t depend on social networking to connect with other members of their cohort.
6. PRIZM is a segmentation scheme that defines the country based on what type of clusters?
- Demographic
- Occupational
- Cohort
- Geographic
7. In a buyer’s market, the buyer has the power and the market is ______-focused.
- Customer
- Product
8. According to the lectures, what should a company’s long-term marketing strategy be?
- To be the best at one dimension and good enough at the other two dimensions (operational excellence, performance superiority, and customer intimacy).
- To be ABOVE “fair value” on each dimension (operational excellence, performance superiority, and customer intimacy).
- To be AT fair value (operational excellence, performance superiority, and customer intimacy).
9. In the STP framework, what does “STP” stand for?
- Segmentation; targeting; pricing
- Sizing; tabulating; positioning
- Sizing; targeting; pricing
- Segmentation; targeting; positioning
10. What is marketing?
- The study of selling products
- The study of brand positioning
- The study of a market, which is an exchange between two partners
- The study of buyers and sellers