Question 1Choice Homes, Inc

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Question 1Choice Homes, Inc.Choice Homes, Inc., based in Texas, built its reputation by building high-quality new homes, often at prices less than “used” ones. Choice Homes used mass-purchasing power, innovative high-tech communications among employees to coordinate the building process, and other entrepreneurial strategies to hold costs down. Its homes are primarily targeted at first-time homeowners-to-be in an effort to get people out of apartments so they can experience the “American Dream” of home ownership for the same price as rent. Choice Homes later developed the “Choice Classic” brand name for higher-end homes targeted at wealthier dual-income couples. The Choice Classic name was designed to capitalize on the reputation of Choice Homes, especially for current Choice home owners who are ready to “move up” to a larger home. Recently, Choice Homes started a third line of homes called “Reflections,” which are expensive, custom-designed homes located in exclusive, prestigious neighborhoods.Refer to Choice Homes, Inc. In a recent survey, Choice Homes’ customers indicated that they thought their homes were high quality, made lots of referrals to friends, and planned to buy a Choice Classic or Reflections home in the future. The customers’ reactions indicate that Choice Homes has achieved:achieved generic statusbecome a private brandbrand equitysuperficial skillsbrand superiority4 points Question 2Sherwin-Williams’ paint brand, Dutch Boy, has come up with a packaging innovation that is getting rave reviews. The new Twist & Pour paint is packaged in an all-plastic gallon container with an easy twist-off lid, comfortable side handle, and even a pouring spout. There’s no other paint product like it on the market. This innovative packaging was most likely designed for which of the following functions?facilitate product use and conveniencecontain and protect the productreduce environmental damagefacilitate recyclingpromote the product4 points Question 3Choice Homes, Inc.Choice Homes, Inc., based in Texas, built its reputation by building high-quality new homes, often at prices less than “used” ones. Choice Homes used mass-purchasing power, innovative high-tech communications among employees to coordinate the building process, and other entrepreneurial strategies to hold costs down. Its homes are primarily targeted at first-time homeowners-to-be in an effort to get people out of apartments so they can experience the “American Dream” of home ownership for the same price as rent. Choice Homes later developed the “Choice Classic” brand name for higher-end homes targeted at wealthier dual-income couples. The Choice Classic name was designed to capitalize on the reputation of Choice Homes, especially for current Choice home owners who are ready to “move up” to a larger home. Recently, Choice Homes started a third line of homes called “Reflections,” which are expensive, custom-designed homes located in exclusive, prestigious neighborhoods.Refer to Choice Homes, Inc. Choice Homes is considering acquiring a mortgage and title company to add to its marketing power in selling homes. This acquisition would expand the firm’s:product mix widthline breadthproduct item widthproduct line lengthproduct breadth4 points Question 4A regional utility company needs to change consumers’ perceptions of its current service as being harmful to the environment. Which of the following strategies would best allow the company to accomplish this goal?contraction of the number of services offered by the utility companyadding new services to its product linerepositioningdisintermediationuse of product cannibalization4 points Question 5Which of the following statements about bar codes is true?Bar codes are also called universal pricing codes (UPCs).Bar codes were first used in 2000.Bar codes can be read by optical scanners.Bar codes cannot be used as a marketing research tool.None of these statements about bar codes is true.4 points Question 6When PaintingsDirect, an online seller of contemporary original art, markets its art to home decor buyers for retailers, custom-framing stores, and intermediaries that supply furniture and home furnishings retailers, it is selling _____ products.specialtyconsumerbusinessconvenienceunsought4 points Question 7Most people recognize Butterball as a brand of turkey, but Butterball brand is also found on fresh turkey breast cuts, turkey sausages, ground turkey, lunchmeat cold cuts, fresh marinated bone-in, boneless, and whole chicken, frozen chicken products, and Butterball stuffing and gravy mixes. Butterball uses:dealer brandingbrand groupingfamily brandinggeneric brandingcobranding4 points Question 8A small chain of supermarkets in the western United States sells only manufacturers’ brands. Which of the following is one of the arguments you could have used to dissuade the supermarket chain owner from selling only manufacturers’ brands?A well-known manufacturers’ brand will not enhance the chain’s image.Manufacturers rarely spend money advertising the brand name to consumers.Manufacturers typically offer a lower gross margin than could be earned on private label brands.Manufacturers force the chain to carry a large in-store inventory.Relying on the manufacturer or wholesaler to deliver a national brand quickly is optimistic at best.4 points Question 9The publisher of a Canadian business magazine wanted to make several major changes in the magazine’s content and format. To determine what changes would be supported by its subscribers and what changes would not be welcomed, the publisher should engage in:advertisingdatabase marketingmarketing researcha data retrieval systemsecondary data4 points Question 10You have been given the task of creating a questionnaire that requires each respondent to provide a rich array of information based on his/her own frame of reference. Which of the following types of questions would best deliver such information?true-false questionsmix-and-match questionsopen-ended questionsscaled-response questionsclosed-ended questions4 points Question 11In-home personal interviews:offer high-quality data at high costoffer the ability to obtain high-quality data at low costare becoming increasingly more popularare less expensive than mall interceptsoffer information of moderate quality, but at a low cost4 points Question 12There are five Major League Baseball markets with more than one team. So far this season, the average combined attendance for the Chicago Cubs and the Chicago White Sox ranks lowest. Before conducting any marketing research to explain low attendance figures, the teams will need to:determine who will be most likely to respond to a surveyselect a market sample from everyone in the populationdefine the problem to be researcheddevelop a survey to find out exactly what’s wrongenumerate the decision factors4 points Question 13Five hundred women were surveyed about their feelings about female physicians. The majority responded that they felt more relaxed with a female physician. The survey was an example of a(n) _____ sample because it used local hospital patents as survey participants.randomrepresentationalprobabilityconvenienceframing4 points Question 14The two most expensive types of survey research are at-home interviews and _____.mall intercept interviewsCLT interviewsmail panel surveysexecutive interviewsfocus groups4 points Question 15When people are hired to record traffic patterns in a shopping mall, they are engaging in _____ research.focus groupobservationexperimentalsurvey samplingsample framing4 points Question 16A major limitation of the mall intercept interview is:the difficulty of measuring attitudes and opinionsthe need to interview people standing upits high cost relative to in-home interviewsthe difficulty of demonstrating new productsthe difficulty of obtaining a representative sample of the population of interest4 points Question 17When a consumer makes a trial purchase of a new product, he or she becomes _____ in the new-product adoption stage process.an adoptera diffuseran innovatora pre-diffusion usernone of these4 points Question 18Oakley, the manufacturer of protective eyewear for sports enthusiasts, has recently introduced Oakley’s Thump, UV sunglasses that allow the wearer to store and listen to 120 different songs. Which of the following product characteristics would likely exert the greatest influence on the market success of these new glasses?compatibilitycomparabilitycomplexitytangibilitycompetitive advantage4 points Question 19Scientists at Indiana University have received a patent for their newly discovered technologies for more effective customer interface interactions in retail stores. The university decided to sell the patent to an independent company whose scientists immediately began exploration into practical uses of this new technology. The scientists at the independent company are involved in:concept testingbrainstormingbasic researchproduct developmentapplied research4 points Question 20A recent publication revealed insights into the genetic reasons for smoking that can potentially lead to more effective strategies to reduce smoking. Because the purpose of the study was to determine how genetics influences smoking rather than the development of smoking cessation technology, this is an example of:brainstormingbasic researchapplied researchproduct generationconcept testing4 points Question 21Absolute failure occurs when:there is too much synergy between the marketing and production departmentsa company cannot recoup its development, marketing, and production costs for a new productproducts deliver a meaningful and perceivable benefitthe company prices the product to indicate that it is of the highest qualitynone of these occur4 points Question 22Gold Peak is a brand of iced tea introduced by Coca-Cola North American and intended to taste like the tea “Mom used to brew.” The tea has high marketing costs as well as high production costs. Promotions for the product are aimed at informing consumers that this premium product tastes like it’s home-brewed. In which stage of the product life cycle is Gold Peak iced tea?introductorygrowthmaturitydeclinesaturation4 points Question 23Ortho Products would like to estimate the length of time its new product, the Sonar Brush (cleans teeth without touching them), will stay in the introductory phase of its product life cycle. You tell management that period of time is largely determined by:which distribution channel is chosenthe income level of its target marketsthe product’s relative advantage over what is currently being usedthe general economic environmentthe political and legal environment4 points Question 24Which of the following statements about the product life cycle (PLC) is true?The PLC concept encourages marketing managers to think reactively.Marketers do not yet understand the relationship between the adopter categories and the stages of the PLC.There are as many new buyers in the maturity stage of the PLC as in the growth stage.The PLC is especially useful as a predicting tool.Just as there are five adopter categories, there are five PLC stages.4 points Question 25Basically, all that happens in the development stage of the new-product process is that the first prototype of the product gets developed.TrueFalse