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Mkt421twk5

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When Coca-Cola promoted Coke as a morning beverage for those consumers who don't drink

coffee, it used a __________ strategy.

Multiple Choice

• product modification

• brand modification

• market-product extension

• diversification

• market modification Correct

Explanation

With market modification strategies, a company tries to find new customers, increase a product's

use among existing customers, or create new use situations. Coca-Cola was using a market

modification strategy by trying to increase product usage, advocating its consumption as a

breakfast drink.

The element of the marketing mix demonstrated when an art gallery suggests a $2 donation at the

door is

Multiple Choice

• philanthropy.

• place.

• product.

• promotion.

• price. Correct

Explanation

Price is what is exchanged for the product; in this case, access to an art gallery.

If a bank is known for delivering customer value through its focus on taking great care of

customers, it is most likely focusing on providing its customers with the best

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Multiple Choice

• assortment.

• products/services.

• price.

• customer service. Correct

• availability.

Explanation

Outstanding customer value is delivered through the implementation of one of three value

strategies—best price, best product, or best service. The bank delivers customer value by

providing its customers with the best customer service.

Which type of distribution density does Piaget use when the maker of fine jewelry and watches

distributes its products through a single retailer in select cities in the United States?

Multiple Choice

• intensive distribution

• extensive distribution

• selective distribution

• exclusive distribution Correct

• private label distribution

Explanation

Exclusive distribution exists where only one retail outlet in a specified geographical area carries

the firm's products. Exclusive distribution is typically chosen for specialty products or services

such as expensive jewelry.

The Lemon Tree is a high-fashion boutique selling top-of-the-line women's clothing and

accessories. The keys to its success include knowing customers' changing tastes and providing

something different than other retailers. In addition, because of the high value of the

merchandise, The Lemon Tree's management is investing in the use of computerized inventory

controls and sales order processing. The least important environmental force to The Lemon Tree

at this time is likely to be

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When Coca-Cola promoted Coke as a morning beverage for those consumers who don't drink coffee, it used a __________ strategy. Multiple Choice • product modification • brand modification • market-product extension • diversification • market modification Correct Explanation With market modification strategies, a company tries to find new customers, increase a product's use among existing customers, or create new use situations. Coca-Cola was using a market modification strategy by trying to increase product usage, advocating its consumption as a breakfast drink. The element of the marketing mix demonstrated when an art gallery suggests a $2 donation at the door is Multiple Choice • philanthropy. • place. • product. • promotion. • price. Correct Explanation Price is what is exchanged for the product; in this case, access to an art gallery. If a bank is known for delivering customer value through its focus on taking great care of customers, it is most likely focusing on providing its customers with the best Multiple Choice • assortment. • products/services. • price. • customer service. Correct • availability. Explanation Outstanding customer value is delivered through the implementation of one of three value strategies—best price, best product, or best service. The bank delivers customer value by providing its customers with the best customer service. Which type of distribution density does Piaget use when the mak ...
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