MAR3023 EXAM 3 QUESTIONS AND ANSWERS WITH
COMPLETE VERIFIED SOLUTIONS
All of the following are examples of nontraditional retailing except _
Target stores
examples of nontraditional retailing
Amazon, Best Buy vending machines, QVC and other home-shopping companies
Campbell's soup repackaged their canned soups into convenient to eat,
microwavable plastic cups. This is known as a ____________ Modification
Function
Geico's talking gecko is a mascot that only Geico can legally use. This is an
example of a:
Trademark
When used as a verb, Tivo is widely understood to mean recording a television
show for later viewing, which can be done using many different brand's products.
Tivo is actually one of the brands of digital video recorders. By becoming the
primary meaning of a product instead of just a brand Tivo has become _
Genericized
Hailey needs a new purse and will only purchase one made by Michael Kors. She
refuses to consider any other alternatives, even though lower cost substitutes are
available that look almost identical. This level of brand loyalty is known as _
Insistence
,Which method of distribution is the least cost effective in terms of transportation
costs?
Airplanes
The weakest level of brand loyalty is brand:
Recognition
Jiffy peanut butter costs $2.50 a jar while generic peanut butter costs $2.00 a jar.
Jiffy sells 10,000 jars of peanut butter a month and is calculating their brand
equity. Their brand equity would be:
5,000
- 0.5 x 10,000
- taking the price difference between the branded product and a generic product, and
then multiplying the difference with the total branded sales volume
Corinne is extremely loyal to Starbucks. She drinks Starbucks over any other
coffee and is so attached to the brand that if she is not able to have Starbucks
coffee, she will refuse to make a purchase altogether. Corinne has what level of
brand loyalty to Starbucks?
Insistence
Harrison's House of Horrible Hamsters is a 1000 square foot retail pet store that
sells evil little rodents and rodent-related accessories. Amazingly, this year they
sold a whopping $100,000 worth of goods. This year, Harrison's House of Horrible
Hamsters had sales per square foot of:
$100
- 100,000/1,000
,Based on our class lecture, Dick's Sporting Goods is what type of retailer
category killer
Consumers receive the benefits of place utility when:
Products are available in locations where consumers want to buy them
When a product experiences an increase in the number of competitors it is
usually in the _________ stage of the product life cycle. When that competition
becomes intense it is in the ____________ stage
Growth, maturity
A(n) ______________ is a very large specialty store that competes based on lower
prices and enormous product availability
Category killer
Mike's Retail Outlet has just entered the retail market, and they offer low prices on
a few services. The wheel of retailing suggests that
Mike's is likely to evolve over time to offer more services at higher prices
Aaron had a biking accident and had to be rushed to the emergency room for
immediate care. Paying a visit to the hospital is not how Aaron had planned to
spend his weekend. Aaron's experience with the emergency room represents
a(n):
Unsought product
The symbol of a Seminole which is used to denote FSU is an example of a _
Brand mark
, Proctor and Gamble sell a wide range of products including Pampers baby
diapers, Pringles chips, and Head and Shoulders Shampoo. The term for all of the
different products that a company sells is _
Product Mix
Chick-fil-A's evolution from fast food to "fast casual" is an example of:
the wheel of retailing
Return and recycling, delivery, warranty, repair and service, and installation are
all examples of features of what level of product hierarchy?
Augmented Product
Aldi sells its own brand throughout its stores. Aldi's brands would be considered
_
Private Label
Dr. Pepper branded beef marinade is an example of a(n) _
Brand extension
Tracey has just purchased her first cellular phone. When she was choosing
cellular phones she selected a flip phone. Tracey is a member of which group:
Laggards
Fried Kit-Kats are a new product on the market. Karen has purchased this new
product once. After her first experience with Fried Kit-Kats she decided she
enjoyed the product so much, that the next time she wants something sweet, she
is going to purchase Fried Kit-Kats again. Karen is in which stage of the New
Product Adoption Process?
Adoption
COMPLETE VERIFIED SOLUTIONS
All of the following are examples of nontraditional retailing except _
Target stores
examples of nontraditional retailing
Amazon, Best Buy vending machines, QVC and other home-shopping companies
Campbell's soup repackaged their canned soups into convenient to eat,
microwavable plastic cups. This is known as a ____________ Modification
Function
Geico's talking gecko is a mascot that only Geico can legally use. This is an
example of a:
Trademark
When used as a verb, Tivo is widely understood to mean recording a television
show for later viewing, which can be done using many different brand's products.
Tivo is actually one of the brands of digital video recorders. By becoming the
primary meaning of a product instead of just a brand Tivo has become _
Genericized
Hailey needs a new purse and will only purchase one made by Michael Kors. She
refuses to consider any other alternatives, even though lower cost substitutes are
available that look almost identical. This level of brand loyalty is known as _
Insistence
,Which method of distribution is the least cost effective in terms of transportation
costs?
Airplanes
The weakest level of brand loyalty is brand:
Recognition
Jiffy peanut butter costs $2.50 a jar while generic peanut butter costs $2.00 a jar.
Jiffy sells 10,000 jars of peanut butter a month and is calculating their brand
equity. Their brand equity would be:
5,000
- 0.5 x 10,000
- taking the price difference between the branded product and a generic product, and
then multiplying the difference with the total branded sales volume
Corinne is extremely loyal to Starbucks. She drinks Starbucks over any other
coffee and is so attached to the brand that if she is not able to have Starbucks
coffee, she will refuse to make a purchase altogether. Corinne has what level of
brand loyalty to Starbucks?
Insistence
Harrison's House of Horrible Hamsters is a 1000 square foot retail pet store that
sells evil little rodents and rodent-related accessories. Amazingly, this year they
sold a whopping $100,000 worth of goods. This year, Harrison's House of Horrible
Hamsters had sales per square foot of:
$100
- 100,000/1,000
,Based on our class lecture, Dick's Sporting Goods is what type of retailer
category killer
Consumers receive the benefits of place utility when:
Products are available in locations where consumers want to buy them
When a product experiences an increase in the number of competitors it is
usually in the _________ stage of the product life cycle. When that competition
becomes intense it is in the ____________ stage
Growth, maturity
A(n) ______________ is a very large specialty store that competes based on lower
prices and enormous product availability
Category killer
Mike's Retail Outlet has just entered the retail market, and they offer low prices on
a few services. The wheel of retailing suggests that
Mike's is likely to evolve over time to offer more services at higher prices
Aaron had a biking accident and had to be rushed to the emergency room for
immediate care. Paying a visit to the hospital is not how Aaron had planned to
spend his weekend. Aaron's experience with the emergency room represents
a(n):
Unsought product
The symbol of a Seminole which is used to denote FSU is an example of a _
Brand mark
, Proctor and Gamble sell a wide range of products including Pampers baby
diapers, Pringles chips, and Head and Shoulders Shampoo. The term for all of the
different products that a company sells is _
Product Mix
Chick-fil-A's evolution from fast food to "fast casual" is an example of:
the wheel of retailing
Return and recycling, delivery, warranty, repair and service, and installation are
all examples of features of what level of product hierarchy?
Augmented Product
Aldi sells its own brand throughout its stores. Aldi's brands would be considered
_
Private Label
Dr. Pepper branded beef marinade is an example of a(n) _
Brand extension
Tracey has just purchased her first cellular phone. When she was choosing
cellular phones she selected a flip phone. Tracey is a member of which group:
Laggards
Fried Kit-Kats are a new product on the market. Karen has purchased this new
product once. After her first experience with Fried Kit-Kats she decided she
enjoyed the product so much, that the next time she wants something sweet, she
is going to purchase Fried Kit-Kats again. Karen is in which stage of the New
Product Adoption Process?
Adoption
