Question 12(1 point)

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Consider a reward program at a coffee shop. To obtain a free coffee, the program requires customers to accumulate 24 points by making eight coffee purchases. According to the goal gradient hypothesis, which of the following reward programs would be most effective at accelerating purchases?

Question 12 options:

A program in which each purchase earns 3 points

A program in which each of the first four purchases earns 1 point, and then each of the last four purchases earns 5 points

A program in which each of the first four purchases earns 5 points, and then each of the last four purchases earns 1 point

A program in which each of the odd numbered purchases (purchases 1, 3, 5, and 7) earns 5 points, and each of the even numbered purchases (purchases 2, 4, 6, and 8) earns 1 point

Research suggests all of the above would be equally effective because they all require eight coffee purchases.

Question 13(1 point)

The following table shows importance and perception data on toothpaste brands obtained via conjoint testing. From the table, the point-of-parity variable for the adult toothpaste market is ____________. The point-of-difference variable of choice for Colgate is ____________. *

Question 13 options:

Price, decay prevention

Clean teeth, price

Fresh breath, clean teeth

Clean teeth, decay prevention

Question 14(1 point)

Which of the following could possibly be considered a core competence?

Question 14 options:

IBM's patents purchased from Lenovo

The low prices customers pay on Amazon

Apple's product line

Walmart's ability to manage logistics

All of the above

Question 15(1 point)

In the article "Make your best customers even better," Velveeta's growth strategy was to:

Question 15 options:

Focus on bringing new people into the category

Focus on light users

Focus on acquisition/steal shares

Focus on retention/stimulate demand

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Question 16(1 point)

Which of the following is not true about intermediaries?

Question 16 options:

Intermediaries help increase number of transactions in marketplace

Wholesalers help manufacturers reach small business customers at low cost

Wholesalers holdinventories, reducing inventory costs and risks to retailers

Intermediaries can create channel conflicts

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Question 17(1 point)

Which of the following claims would be scrutinized by the FTC?

Question 17 options:

We have the best tasting coffee!

Don't settle for an incomplete sports drink

More consumers prefer our coffee to any other

None of the above

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Question 18(1 point)

Imagine a market with two competitors. A consumer spends $500 in the category with 60% spent in Store A, and 40% in Store B. After Store A targets this consumer with a marketing campaign, she still spends $500 in the category but spends 80% in Store A and 20% in Store B. Please fill in the blanks: After implementing a____________ strategy, Store A increased the customer's ______________.

Question 18 options:

Retention/ Stimulate Demand, Size of Wallet

Retention/ Stimulate Demand; Share of Wallet

Retention/ Stealing Share; Share of Wallet

Retention/ Stealing Share, Size of Wallet

Question 19(1 point)

When Jason went to a car dealer to buy a car that he is interested in, the dealer suggested $26,000, which Jason found was much higher than his expectation. He was unhappy at first, but he negotiated with the dealer and closed the deal at $22,000. Jason was satisfied with the price, and so was the dealer. The dealer, knowing that $26,000 offer may turn Jason off, suggested the price to take advantage of this psychological factor. What is this factor?

Question 19 options:

Anchoring

Overconfidence bias

Availability heuristic

Sunk cost bias

Question 20(1 point)

Which of the following isNOTtrue about repetition in marketing communications?

Question 20 options:

With repetition, consumers can come to believe the claim that is being made only if it is true

Familiarity can lead to heightened truth perceptions

Familiarity greater can lead to greater like-ability

None of the above