Exam 1: Professional Certified Marketer

PlayBall, a manufacturer of gaming consoles, announces the release of its new device. Karen, wanting to be one of the first to own the new gaming console, stands in a queue for over five hours on the day of its release. Even though disappointed that the product sold out before her turn arrived, Karen returned at 2 A.M the next day and was the first person in line. In this scenario, Karen is one among the _____.

If an endorser is represented as an actual user of the marketer's product, the endorsement can only be used as long as:

Why do companies offer seasonal discounts to customers?

Port, an OEM of computer hardware, accounts for 6% of the computer hardware sold in the U.S. Retailers uses hardware from OEMs like Port to assemble personal computers. Owing to the competitive nature of the industry, Port's pricing is uniform with offerings from other manufacturers. The rise and fall in pricing is dictated more by the rise and fall in prices of raw material, labor, and utilities across the industry. Port's pricing strategy is focused on _____.

The process of dividing the market into groups of customers with different needs, wants, or characteristics-who therefore might appreciate products or services geared especially for them-is called _____.

Reference groups refer to

LockIt, a manufacturer of electronic safes, accounts for 5% of the safes sold in the U.S. LockIt's current business strategy is aimed at selling better-quality products at higher prices than competitors. The higher prices make LockIt one of the leaders in terms of revenue earned. Having satisfied initial objectives of earning a certain ROI, LockIt sets a target of accounting for 25% of the units sold during the next financial year. To further this goal, LockIt introduces a line of lower-priced safes that are priced below similar competing products. LockIt's new pricing strategy is _____.

A toy manufacturer realizes that its latest product presents a choking hazard due to some of the components used in the toy. This occured despite the prior implementation of safety measures to prevent such an occurrence. The toy manufacturer is faced with a decision to recall over a million products or place a warning label on each product. This type of situation is representative of _____.

Lilli visits her hair stylist to get a haircut. Lilli wants to know how she would look after the haircut. Unlike a dress, Lilli cannot try a haircut before she gets it. Lilli's inability to get a partial haircut or a preview of it illustrates the _____ of a haircut.

Pluto Inc. runs a television and radio advertising campaign which involves several celebrities with the aim of creating a emotionally appealing to its customers. In this scenario, Pluto Inc. is using _____ media.

Hanna is buying a wedding dress and chooses one that is beyond her budget. However, she notices that the dress fits her well and comes with a money-back guarantee. Despite the higher cost, she decides to purchase the dress due to the trade-off between cost and perceived value. In this scenario Hanna is exhibiting the _____ rule.

Spark, a manufacturer of consumer electronics, makes TVs, home theater systems, refrigerators, ACs, and microwave ovens. Spark's surround-sound system, Quadro, was a market leader a few years ago, before the market for large sound systems began to shrink. Despite its dip in market share and minimal profitability, Spark continues to produce Quadro. Spark offers Quadro for a highly discounted price when customers purchase its high-end LCD, LED, plasma, and 3D TV sets. Although the customers would not purchase Quadro as a standalone product at the same price, the combined offer increases the sales of both Quadro, and the other TV sets. In this scenario, Quadro is a _____.

_____ is a method of prospecting in which salespeople telephone or go to see potential customers without appointments.

Which of the following firms is using a product development strategy?

Which of the following is a key similarity between selective distribution and exclusive distribution?

Patisserrita is a family-owned chain of bakeries in the Northtown region. The chain sells luxury desserts and pastries that are priced at a permium. Bianca, one of the owners of the business, is considering expanding the business using a market penetration strategy. Which of the following will she do?

Reso, a manufacturer of mp3 players or portable media players (PMPs), accounts for 157,500 of the 700,000 PMPs sold annually in the United States. What is the Reso's market share of the PMP market?

_____ is a communication used to prompt repurchases, especially for products that have gained market acceptance and are in the maturity stage of their life cycle.

Which of the following statements is most characteristic of a firm that has a relational orientation?

Pluto Inc., a market research company, collects data relating to its clients from sources such as Facebook, Twitter, blogs and review websites and assesses customers' feelings toward particular products. Which of the following methods is Pluto Inc., likely to use to achieve desired results?