D077: Unit 3 Test and Module Quiz Questions

D077: Unit 3 Test and Module Quiz Questions

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Sophie_Love42 Preview Module 12 terms Cyn What was the CEO's purpose for investing in research and development?New product, new market The CEO shifted Sure Start's growth focus through product development and sales of its rechargeable batteries to electric car manufacturers.Which strategic opportunity is represented by this focus?Diversification Sure Start has now signed contracts to be a battery supplier for small, electric car manufacturers in both Europe and Asia.Which growth strategy has Sure Start shifted to with this action?Market development Charlie would like to move the manufacturing of electric batteries to Asia. This would decrease transportation costs from North Carolina to Vietnam, increase long-term profitability, and create opportunities with new companies in other parts of Asia.Which growth strategy characteristic is Charlie pursuing?Targeting new partnerships in Asia When Charlie first announced the plans for a rechargeable battery product line, employees were concerned about focusing the company's growth on rechargeable batteries and electric car manufacturers.Which growth strategy characteristic did this concern represent?Risk investment

Ana's business has been awarded two contracts for mixed-paper processing and wants to learn more about which packaging clients want. Ana is hoping that the data will guide how to better market the company's services.Which benefit to the customer relationship does Ana hope to achieve by using this strategy?Analytical Ana, the owner of a trash processing business, has formed an alliance with Company B on a joint venture.The two companies plan on creating a video documenting how they have increased Company B's sales. Ana hopes the video will help secure new commercial mixed-paper processing contracts.Which stage of the customer life cycle reflects Company B's relationship with Ana?Advocacy Ana has been approached by a packaging customer who needs plastic waste processing services, but she is concerned that additional financing would be needed to maintain both the trash and mixed-paper processing as well as a new service line.Which approach creates the most value for Ana if the plastic processing is also adopted?Securing additional repeat clients Ana has now grown the business to include trash, mixed paper, and plastic waste processing. The cost of electricity has increased significantly in the past three years. Ana is faced with the reality that prices must be raised because the company is too small to achieve economies of scale. Ana has already spoken with each client, and each has committed to the trash business for at least five more years.Which kind of equity is being demonstrated by this situation?Retention Ana's mixed-paper processing equipment has malfunctioned, and the repair will take 48 hours. A competitor is contacted for assistance. Ana offers to pay a premium for 48 hours of processing time while continuing to charge clients the standard price for the processing without any additional fees.Which customer satisfaction concept is Ana ensuring by managing the problem in this manner?Delivering on customer expectations

Ana worked with a packaging company, Company X, to create a new method for processing mixed paper waste into recyclable product for resale. Another packaging company, Company Y, a competitor of Company X, has also approached and offered to help Ana develop recyclable product for resale.Ana knows that helping Company Y will automatically reveal the newly learned techniques to its competitor, Company X.Which ethical dilemma does this raise for this owner?Nondisclosure What is the first step Ana should take as part of an appropriate customer relationship management strategy?Tracking leads and clients Which type of market is represented by Sure Start's electric car battery business?Business to business Charlie decided to develop electric car batteries because there were companies still trying to establish themselves as industry leaders, and he wanted to be able to enter the market at the early stage and become a mass producer of rechargeable batteries used in electric cars.Which component of market segmentation does this represent?Identifying the market Sure Start Batteries conducted extensive research and development to produce its line of rechargeable batteries designed for electric cars with the goal of marketing to electric car manufacturers.Which segmentation variable did Sure Start Batteries use to market its batteries?Product-related Charlie plans to use target marketing to sell Sure Start Batteries' new rechargeable battery.Which example is consistent with target marketing?Specializing in Asia Charlie tasks the chief marketing officer (CMO) with developing and communicating a marketing brand and vision that will win over new customers for the new electric battery. The CMO decides to design various promotions for each major market area based on the variance in electric car vehicle usage.Which targeting strategy is this CMO using?Differentiated Sure Start's chief marketing officer (CMO) conducted research to learn why buyers of cars manufactured with Sure Start electric batteries are satisfied with the performance and plans to design a marketing campaign around car buyer testimonials.What is the purpose of this campaign's positioning?Attitude

Sure Start's chief marketing officer (CMO) receives feedback that the testimonial campaign did not focus enough on the company's partnership with a specific, well-regarded Asian electric car manufacturer.What type of positioning strategy should the CMO use to address this deficiency?Product Which aspects of these customers' responses can be observed in-store?Behavioral A customer approaches a salesperson in this store and asks if a luxury refrigerator performs more energy efficiently than a standard refrigerator.Which step of the consumer decision-making process is this customer displaying?Information research A customer mentions that the motivation for purchasing a luxury appliance in the store is due to the desire to "reach my highest potential as a chef." What stage of the "need hierarchy" is this customer displaying?Self-actualization A customer meets with a salesperson in this store and says that the decision to purchase a $100,000 outdoor kitchen that includes a luxury refrigerator and range has been made. The customer has conducted extensive technical research and has compared pricing and features of multiple brands of appliances prior to coming into the location.What kind of decision-making is being displayed by this customer?High-involvement, complex The salesperson in this store closes the $100,000 outdoor kitchen sale and invites the customer to consider purchasing an additional one-year warranty for outdoor appliances that is only available at the time of purchase.What kind of problem-solving does this require from the customer?Limited The customer asks how the retailer will dispose of the old appliances currently located in the space where the new outdoor kitchen will be located. The question stems from a desire to make future purchase decisions based on which companies actively recycle.What kind of decision-making is being used by this customer?Ethical consumerism Which personal influence is described as a process by which a consumer identifies, organizes, and interprets information to create meaning?Perception