MAR3023 EXAM 1 QUESTIONS WITH COMPLETE
VERIFIED VALID ANSWERS GRADED A++
Old Milwaukee is the most decorated mass produced light beer in the US,
however, the top selling light beer in the US is Bud Light. How do you explain this
discrepancy:
Advertising and branding
marketing citizenship
accomplished when a firm fulfills the economic, legal, ethical and philanthropic social
responsibilities expected by stakeholders
Based on the work by the Boston Consulting Group (BCG), products that have
high market share of a low growth market are called:
cash cows
Determining where to sell Coca-Cola Cherry is an example of which of the
following components of the marketing mix?
place
Jennifer walks into a store to buy a new shampoo product. She sees a brand of
shampoo with the packaging stating, "Strengthens hair 6x better than the leading
competitor!" These claims are not scientifically proven or approved by regulators.
Which government agency would review this case?
Federal Trade Commission (FTC)
,Eric has saved $1,232 by forgoing his daily Starbucks coffee for the year. He feels
like he should take this savings and spend it on his family. His wife wants to take
a trip to Las Vegas, while his son feels that money would be better spent upon
upgrading their home theater. These two options are an example of_______
Total Budget Competitors
When purchasing a plane ticket, Southwest Airlines attempts to give you more for
your money by letting you check one bag for free, while most other airlines
charge you for all your baggage. This is most likely Southwest's way of:
Creating value
A cereal company advertises that its cereal can lower cholesterol. This statement
may be misleading as the company cannot provide evidence to prove this claim.
This situation involves an ethical issue that is related to which of the 4 P's?
Promotion
Companies often have candy display cases in the checkout lanes of super
markets. These display cases are placed lower so that they are at the eye level of
children and can attract the attention of children while they are in the checkout
line. Research has shown that this results in a 10% increase in candy sales. As
companies have increasingly used these candy display cases child obesity has
risen by 20%. This is a situation of ethics involved in which of the 4 P's?
Place
Janet started growing tomatoes in her garden. She couldn't eat all of the
tomatoes that she grew and decided to set up a booth at the farmer's market.
,There was no fee to have a table there, and anyone with a product to sell could
have a table there. This is a _________ structure.
Pure Competitive
In 2008 it was discovered that the financial firm Madoff Investment Securities LLC
was stealing money from its customers by spending the money on personal
items instead of investing it in the financial products they were supposed to. The
firm would also print and mail fake statements to clients every month so that the
clients thought their money was invested. This is an example of which of the
dimensions of social responsibility?
Legal
Many people have their personal preference for bottled water, swearing Fiji tastes
better than Walgreens or Publix water. Dr. Brady gave a blind taste test to his
students asking them to choose their favorite bottled water, and many of them
chose Walgreens as the best tasting flavor. Why do people believe Fiji water is
better?
The Power of branding
As a result of the large baby boomer population there is an increase in Americans
who are ages 51-70 in America. In response to this aging population, health care
companies are adapting their products to include more products aimed towards
older adults. This is an example of which external environmental force?
Demographic
In 2007 Amazon released the Amazon Kindle e-reader. This allowed users to
browse, buy, download, and read e-books, magazines, and other digital media
, wirelessly via the Kindle Store. This product also had e-ink technology that
allowed the screen to be read in full daylight. After the introduction of this devise,
several other companies offered similar products. The Amazon Kindle is
considered a ________ product
Game Changer
Using SWOT analysis, firms realize that they should try to convert internal
weaknesses into ___________ and external threats into ___________
strengths; opportunities
Uber was founded in 2009 and has since expanded internationally, becoming
increasingly successful. In 2012 a company called Lyft entered the market. Like
Uber, Lyft facilitates peer-to-peer ride-sharing, and consumers have a hard time
distinguishing between the two companies. This example relates to the
___________ aspect of marketing. As a result, Uber will likely need to focus more
attention on ___________
time/reality; promotion
The local farmer's market which is held in downtown Tallahassee charges a small
fee for vendors to set up tables and sell their local grown products. This is
closest to what type of economic system?
pure competition
In general, when pricing products you should?
Price it at a level that will cover your costs and maximize your profits
Dr. Brady walked into Publix to purchase some beloved La Croix. He went down
the drink aisle only to find that his favorite flavor, Tangerine, was out of stock! He
VERIFIED VALID ANSWERS GRADED A++
Old Milwaukee is the most decorated mass produced light beer in the US,
however, the top selling light beer in the US is Bud Light. How do you explain this
discrepancy:
Advertising and branding
marketing citizenship
accomplished when a firm fulfills the economic, legal, ethical and philanthropic social
responsibilities expected by stakeholders
Based on the work by the Boston Consulting Group (BCG), products that have
high market share of a low growth market are called:
cash cows
Determining where to sell Coca-Cola Cherry is an example of which of the
following components of the marketing mix?
place
Jennifer walks into a store to buy a new shampoo product. She sees a brand of
shampoo with the packaging stating, "Strengthens hair 6x better than the leading
competitor!" These claims are not scientifically proven or approved by regulators.
Which government agency would review this case?
Federal Trade Commission (FTC)
,Eric has saved $1,232 by forgoing his daily Starbucks coffee for the year. He feels
like he should take this savings and spend it on his family. His wife wants to take
a trip to Las Vegas, while his son feels that money would be better spent upon
upgrading their home theater. These two options are an example of_______
Total Budget Competitors
When purchasing a plane ticket, Southwest Airlines attempts to give you more for
your money by letting you check one bag for free, while most other airlines
charge you for all your baggage. This is most likely Southwest's way of:
Creating value
A cereal company advertises that its cereal can lower cholesterol. This statement
may be misleading as the company cannot provide evidence to prove this claim.
This situation involves an ethical issue that is related to which of the 4 P's?
Promotion
Companies often have candy display cases in the checkout lanes of super
markets. These display cases are placed lower so that they are at the eye level of
children and can attract the attention of children while they are in the checkout
line. Research has shown that this results in a 10% increase in candy sales. As
companies have increasingly used these candy display cases child obesity has
risen by 20%. This is a situation of ethics involved in which of the 4 P's?
Place
Janet started growing tomatoes in her garden. She couldn't eat all of the
tomatoes that she grew and decided to set up a booth at the farmer's market.
,There was no fee to have a table there, and anyone with a product to sell could
have a table there. This is a _________ structure.
Pure Competitive
In 2008 it was discovered that the financial firm Madoff Investment Securities LLC
was stealing money from its customers by spending the money on personal
items instead of investing it in the financial products they were supposed to. The
firm would also print and mail fake statements to clients every month so that the
clients thought their money was invested. This is an example of which of the
dimensions of social responsibility?
Legal
Many people have their personal preference for bottled water, swearing Fiji tastes
better than Walgreens or Publix water. Dr. Brady gave a blind taste test to his
students asking them to choose their favorite bottled water, and many of them
chose Walgreens as the best tasting flavor. Why do people believe Fiji water is
better?
The Power of branding
As a result of the large baby boomer population there is an increase in Americans
who are ages 51-70 in America. In response to this aging population, health care
companies are adapting their products to include more products aimed towards
older adults. This is an example of which external environmental force?
Demographic
In 2007 Amazon released the Amazon Kindle e-reader. This allowed users to
browse, buy, download, and read e-books, magazines, and other digital media
, wirelessly via the Kindle Store. This product also had e-ink technology that
allowed the screen to be read in full daylight. After the introduction of this devise,
several other companies offered similar products. The Amazon Kindle is
considered a ________ product
Game Changer
Using SWOT analysis, firms realize that they should try to convert internal
weaknesses into ___________ and external threats into ___________
strengths; opportunities
Uber was founded in 2009 and has since expanded internationally, becoming
increasingly successful. In 2012 a company called Lyft entered the market. Like
Uber, Lyft facilitates peer-to-peer ride-sharing, and consumers have a hard time
distinguishing between the two companies. This example relates to the
___________ aspect of marketing. As a result, Uber will likely need to focus more
attention on ___________
time/reality; promotion
The local farmer's market which is held in downtown Tallahassee charges a small
fee for vendors to set up tables and sell their local grown products. This is
closest to what type of economic system?
pure competition
In general, when pricing products you should?
Price it at a level that will cover your costs and maximize your profits
Dr. Brady walked into Publix to purchase some beloved La Croix. He went down
the drink aisle only to find that his favorite flavor, Tangerine, was out of stock! He
