Introduction to Marketing Coursera week 4 Quiz

In this blog you will find the correct answer of the Coursera quiz Introduction to Marketing Coursera week 4 Quiz mixsaver always try to brings best blogs and best coupon codes

1. Professor Kahn demonstrated the use of a Value Map. According to the Fair Value framework and to the lecture, what should companies try to do?

Offer better than fair value on all three bundles.
Offer fair value on all three bundles.
Offer fair value on two bundles and offer better than fair value on the other bundle.

2. In the STP framework, what does “STP” stand for?

Sizing; tabulating; positioning
Segmentation; targeting; pricing
Segmentation; targeting; positioning
Sizing; targeting; pricing

3. The Gillette Sensitive portfolio (pictured below) “combines outstanding shaving performance and comfort to address the significant unmet need of 70% of men who say they have sensitive skin.” What is the point of difference in this positioning statement?

Men with sensitive skin
Other razors
Outstanding shaving performance and comfort

4. In Nike’s brand mantra “Authentic Athletic Performance,” which of the three words is the emotional modifier?

Performance
Athletic
Authentic

5. Disney, started by brothers Roy and Walt Disney, is one of the world’s most famous mass media corporations. What type of name is Disney?

Blended
Surname
Invented
Metaphor

6. In Professor Kahn’s lectures, she discussed the two axes of color. What were the two axes?

Familiarity & Excitement
Brightness & Warmth
Arousal & Affect

7. Which color is most preferred by men and is known to curb appetite?

Blue
White
Black
Green

8. A lot of designer clothing companies will send free clothes to celebrities with hopes that the celebrities will wear their clothing in public and attract more customers to the brand. What mode of endorsement are these clothing companies trying to achieve?

Implicit mode
Co-present mode
Explicit mode
Imperative mode

9. The image below, which displays Nivea’s packaging since 1963, is an example of the ____________, which is when companies use tiny little tweaks to make sure their packaging and brand stay modern.

Consumer packaged goods modernization theory
Butterfly effect
Just-noticeable difference

10. Due to massive customer heterogeneity, Professor Fader would say there’s more opportunity to “move the needle” via ___________ than ___________.

Retention; acquisition
Retention; development
Development; acquisition
Acquisition; development

11. Tesco and Harrahs rose to prominence in their industries by exploiting which “crack in product centricity”?

Customer-level tracking
Globalization
Commoditization
Innovation

12. In a customer-centric approach, which customers should you be most concerned with?

The customers that have historically been most valuable
The customers who are most engaged with your products/services
The customers that are likely to be most valuable
The customers with the greatest degree of social influence

13. When Joe was working in finance, he bought all of his suits at Macy’s, a department store. Once Macy’s finds out about Joe’s plans to return to business school, what customer-centric approach would Professor Fader recommend that Macy’s takes with Joe?

Give him incentives to refer his friends to Macy’s
Show Joe that he’s still important to them by extending a store discount to him that will apply during his time as a student
Invite Joe into a VIP customer loyalty program once he graduates from school
Send a thank-you note to Joe to thank him for shopping at Macy’s for so many years

14. Customer centricity requires zooming in on your important customers. As you do so, which of the following strategies do you want to focus on?

Keep the less valuable customers because they provide stability and robustness to your customer mix
Try to treat all of your customers equally well
Try to turn all of the less valuable customers into highly valuable ones
Drop the least valuable customers, so you can focus your resources on your most valuable customers

15. Sometimes at the hair salon, the receptionist will ask if you also want to get a manicure while you’re there. What is this an example of?

Customer needs assessment
Customer referral program
Up-selling
Cross-selling

16. In a product-centric company, rewards would be measured on metrics like all of the following EXCEPT:

Number of new products
Share of wallet
Market share
Percentage of revenue from products less than two years old

17. In a customer-centric company, sales bias is on the side of the ____________ in a transaction.

Ultimate consumer
Broker
Buyer
Seller

18. The thought process for a ________-centric company is “How many possible uses of this product?” The thought process for a ________-centric company is “What combination of products is best for this customer?”

Product; product
Product; customer
Customer; product
Customer; customer

19. Which of the following is NOT an example of basic analytics for pricing decisions?

Margin/Contribution Analysis
Economic Value to the Customer
Break-Even Analysis
Incremental Expenditures Analysis

20. Gloria owns a 100-acre property that needs to be mowed every week. Christopher mows the property for her at the cost of $20 per acre. John wants to mow Gloria’s lawn instead. According to Professor Raju’s analysis of Economic Value to the Customer, what price should John charge to persuade Gloria to hire him instead of Christopher? in switching her landscaper?

Exactly $2000
Exactly $2100
Less than $2000
More than $2000

21. John decides to charge a flat fee of $2000 for mowing any sized property. According to Professor Raju’s analysis of Economic Value to the Customer, who would be willing to pay more for John’s services than Christopher’s?

Carol, who lives in an area where property taxes are lower
Alan, who has a 200-acre property
Betsy, who owns a mower
Don, who has a 50-acre property

22. Which of the following is NOT a product that has predominantly digital attributes?

A printer cartridge
A book
A new pair of running shoes
A pair of socks you have purchased before

23. Horizontal Conflict is when there is conflict between _____ while Vertical Conflict is when there is conflict between _____.

Manufacturer and Retailer / Retailers
Manufacturer and Retailer / Retailer and Customer
Retailers / Manufacturer and Customer
Retailers / Manufacturer and Retailer

24. Which of the following is a non-digital attribute?

Length of a book
Delivery time
The fit of a pair of shoes
Price

25. According to Professor’s Bell lecture, changing which of the following had the greatest impact on operating profits?

Variable costs
Volume
Fixed costs
Price

26. Which of the following best represents the idea of price elasticity?

If I raise volumes by 10%, by how much does the price adjust?
If I raise the price by 1%, by how much does demand drop?
If I drop the price by 1%, by how much does demand drop?
If I drop volumes by 10%, by how much does the price adjust?

27. Which of the following is NOT one of the four inputs to the pricing process?

Competitive pressures
Marginal cost
Marginal revenue
Distributor margins
Willingness to pay

28. Which of the following is not one of the 7Ms?

Money
Motivation
Media strategy
Message content
Mission
Message design
Measurement
Market

29. Toys “R” Us is the name of a major retailer that sells toys and other kids products. What type of name is Toys “R” Us?

Metaphor
Surname
Altered
Arbitrary
Descriptive
Blended
Invented

30. Under the Elaboration Likelihood Model, a firm should only use central routing in their marketing messaging if customers have:

NO motivation to elaborate and NO ability to elaborate.
The motivation to elaborate and the ability to elaborate.
The motivation to elaborate but NO ability to elaborate.
The ability to elaborate but NO motivation to elaborate.

31. The tagline for Disneyland is “The Happiest Place on Earth.” What type of tagline is this?

Provocative
Imperative
Superlative
Descriptive
Clever

32. In relation to the Elaboration Likelihood Model, Professor Kahn discussed the peripheral cues that people use to accept or reject messages. Which of the following is NOT one of the peripheral cues that she mentioned?

Reciprocity
Liking
Authority
Social Proof
Logic
Consistency
Scarcity
Classic conditioning

33. If a company has used a celebrity endorsement in an “imperative mode,” what message is the celebrity conveying?

“Everyone uses this product.”
“You should use this product.”
“I use this product.”
“I endorse this product.”

34. In her lecture, Professor Kahn discussed how difficult it was for Oldsmobile to reposition its automobiles among younger consumers. Perhaps they could have tried to evolve the Oldsmobile brand more gradually. All of the following are ways to evolve brands more gradually except for:

New products, which can be true to the core identity but add modern, innovative elements.
Update the brand name to reflect evolving identities.
Slogans, which are easier to change than names.
Symbols: updating symbols can provide updates without changing meanings..
Announcements: explaining to your customers that the brand will now be focusing on a different customer segment.

35. How do you calculate Price Elasticity?

By dividing the percentage of Change in Demand by the percentage of Change in Price
By dividing the percentage of Change in Demand by gross profits
By dividing the percentage of Change in Price by absolute manufacturing costs
By dividing the percentage of Change in Price by the percentage of Change in Demand

36. What are customer-centric companies required to do?

No significant organizational changes are necessary: they just have to adopt a customer-centric approach.
Be willing and able to change their organizational design and performance metrics to focus on creating long-run customer value. Changing incentive structures is not necessary.
Be willing and able to change their organizational design, performance metrics and incentive structures to focus on creating long-run customer value
Be willing and able to change their performance metrics and incentive structures to focus on creating long-run customer value. Changing organizational design is not necessary.

37. What do the acronyms of the AIDA Model stand for?

Action, Imagination, Design, Attention
Attention, Interest, Design, Action
Analysis, Implementation, Design, Achievement
Attention, Interest, Desire, Action

38. What is the definition of the Endowment Effect?

Consumers are more likely to purchase a product priced at $19.99 than $20
Buyers compare the current price with a reference price
Consumers react to prices in percentage terms as opposed to absolutes
A sense of ownership increases a customer’s willingness to pay

39. Understanding the process of perception is critical to understanding branding because:

Brand names change people’s perceptions of products regardless of the quality of the product
Perceptions affect subsequent behavior
All answers are correct
No answers are correct
The proximity bias means that people assume that things that are close to each other must belong together
Similarity bias means people assume that things that look alike must have the same quality

40. Which of the following factors does NOT reduce price sensitivity?