Question

Which of the following statements about value is FALSE?

		Value includes the concept of quality, but it is broader in scope.
		Value takes into account every marketing program element.
		Unlike quality, value means the same thing to all customers.
		Value is critical to maintaining long-term customer relationships.
		Value allows for the necessary balance among the types of utility.

2.Relevance is a critical criterion in formulating a value claim for a positioning statement. The makers of Cialis, an erectile dysfunction (ED) drug, are considering a value claim that it "enhances intimacy and relationship." To assess the relevance of this claim, Cialis must determine if the claim:

		is unique among value claims of competitor brands.
		aligns with the specific needs of the target market.
		can be endorsed by an authority figure or a celebrity.
		is supportable by scientific evidence.

3.Assume that Park Paper Products believes its customers typically use satisficing decision making when purchasing paper products. Which of the following would likely be the least effective market strategy?

	Make products easy to find
		Offer products at an affordable price
		Design colorful packaging to make products stand out from other offerings
		Secure a large amount of shelf space
		Focus advertising on the technical reasons why products are best in class

4.All of the following should be part of Best Buy's in-store marketing strategy to influence sales of consumer electronics in its stores EXCEPT:

		recognizability of the brand name.
		method of product delivery.
		acceptability of the price point.
		the decision to display the product or not.

5.

Line is the most widely used messaging app in Japan, Thailand, and Taiwan. After achieving success by focusing on chatting, video calling, photo sharing, and other communication functions, the firm leveraged its large customer base to expand beyond these functions. Line now offers online purchasing, delivery, taxi-hailing, and financial services.
of the three major product policy decisions faced by a firm, Line has been primarily engaged in:

		Increasing product line depth
		Widening product accessibility
		Increasing product line breadth
		Increasing product line breadth

6.In the case study about the marketing of Propecia, who were the two key decision-makers involved in the purchase and use of Propecia?

	Merck and consumers
		Consumers and physicians
		Primary care physicians and dermatologists
		Buyers and users
		Merck and health care insurance providers

7.You are the vice president of marketing for a regional chain of fine dining restaurants. You have created policies to ensure that every fulltime employee has the training and skills to deliver the highest quality customer experiences. For example, every server is authorized to surprise customers with one-bite appetizers as part of the company's Customer Delight program. The company refers to these policies as employee empowerment. This is an example that best matches which of the four sets of activities for creating a customer-centric culture?

Coordination
		Cooperation
		Capability
		Connection

Answer 1

1)

Here, correct answer is Unlike quality, value means the same thing to all customers.

Explanation:

Value like quality bears same thing to all the customers, as, Customer should feel that their requirements are fulfilled by purchasing a product, hence, the false statement is “Unlike quality, value means the same thing to all customers”, other statements are correct, hence, other statements are eliminated,

2)

Here, Correct answer is” is supportable by scientific evidence”

Explanation:

Any claim should be valid and based on fact or Evidence, hence, correct answer is the claim has to be supported with scientific evidence, other options are not relevant here, hence, Other options are eliminated,

3)

Here, correct answer is “Design colorful packaging to make products stand out from other offerings”

Explanation:

As, Effective marketing strategy could include like products should be easy to find, should be available at affordable cost, marketer should keep enough space, so they can present variety of products open to customer, Marketers can build advertising campaign that will help customers to know about the products, however, designing the colorful packaging could be taken in but is least affective marketing strategy, hence, correct answer is “Design colorful packaging to make products stand out from other offerings”

4)

All of the following should be part of Best Buy's in-store marketing strategy to influence sales of consumer electronics in its stores EXCEPT:

Here, correct answer is “method of product delivery”

Explanation:

In store Marketing strategy need not to focus on what should be the method of product delivery, as customer will decide over it, they will come at the store and chose the products, they will then carry the products at their own responsibility, hence, Correct answer is “method of product delivery” Other options are not correct, hence, other options are eliminated,

5)

Here, correct answer is “Widening product accessibility”

Explanation:

As, Line started offering online purchasing, delivery, taxi – hailing and financial services, here, Line wants to improve accessibility of products, hence, correct answer is “Widening product accessibility” Other options are not correct, hence, other options are eliminated,

7)

Here, Correct answer is Capability

Explanation:

As, Employees are trained and gained with various skills and expertise, here, such employees are present to deliver highest quality customer experiences, hence, correct answer is Capability, they are authorized on the ground of capability and well trained to serve the customers, hence, customer centric culture represents Capability, Other options are not correct, hence, other options are eliminated,