Which of the following factors does NOT reduce price sensitivity? When the user cannot differentiate between differences in quality Separation between the buyer and the payer Separation in time between the point of purchase and the time of payment Ease of comparison Get All Week Quiz Answer: Introduction to Marketing Coursera Quiz Answer
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…
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 Get All Week Quiz…
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 Get All Week Quiz Answer: Introduction to Marketing Coursera Quiz Answer
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,…
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…
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…
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.” Get All Week Quiz Answer: Introduction to Marketing Coursera Quiz Answer
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 Get All Week Quiz Answer: Introduction to Marketing Coursera Quiz…
The tagline for Disneyland is “The Happiest Place on Earth.” What type of tagline is this? Provocative Imperative Superlative Descriptive Clever Get All Week Quiz Answer: Introduction to Marketing Coursera Quiz Answer
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….
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 Get All Week Quiz Answer: Introduction to Marketing Coursera Quiz Answer