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carrollallen-blog · 7 years ago

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MKT 421 Final Exam Answers – New 2016

Follow Below Link to Download Tutorial

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For More Information Visit Our Website ( https://homeworklance.com/ )

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A __________ is a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.

marketing dashboard

marketing plan

operation plan

mission statement

What is meant by “accelerating the process?”

Increase advertising costs during product launch

Speed up new product time to market

Identify major competitors early

Create a new market space

The product life cycle refers to __________.

a concept that describes the stages a new product goes through from product concept to commercialization

the average life span of a product

a concept that describes the stages a product goes through in the marketplace—early growth, accelerated development, maturity, and decline

a concept that describes the stages a product goes through in the marketplace—introduction, growth, maturity, and decline

Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store. He is the

ultimate consumer in a pipeline from the producer through intermediaries, including the clothing store. This pipeline is actually a _______.

marketing channel

marketing tunnel

consumer market

distribution matrix

What is the marketing objective for the growth stage of the product life cycle?

maintain brand loyalty

minimize promotion

increase market share

stress differentiation

In the nonprofit world of the performing arts, box office technology has essentially remained the same since the 1980s. A company called Tessitura is trying to change that. Tessitura is able to track every transaction with its patrons in one database. The information collected includes ticket purchases, fund-raising, volunteering, and gift shop purchases that will help symphonies, operas, and theaters develop customer profiles in order to tailor their sales messages to specific individuals. In other words, Tessitura will allow arts groups to engage in:

mainstream marketing

societal marketing

relationship marketing

market aggregation

Marketing refers to:

the production of products or services that will generate the highest return on investment.

the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.

the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers.

the process of identifying target market segments for a product or service.

Variables such as location, the North American Industry Classification System (NAICS) code, and type of buy are all examples of ways to:

promote NAFTA.

segment an organizational market.

forecast sales to a consumer market.

differentiate products.

While pricing objectives frequently reflect corporate goals, pricing constraints often relate to:

stockholder demands.

conditions existing in the marketplace. an organization’s code of ethics.

the financial realities within the organization itself.

In personal branding, the “price” component of the marketing mix refers to:

The number of hours you spend job searching

The annual cost of maintaining online profiles (such as LinkedIn)

The expense associated with job-hunting

The salary range and job benefits you hope to receive

At Mattel, Barbie is child-tested to be sure the doll cannot be broken apart and accidentally choke a child. This type of consumer or safety test occurs during the __________ stage of the new-product process.

new-product strategy development

market testing

development

screening and evaluation

Customer value refers to:

the cluster of benefits that an organization promises customers to satisfy their needs.

the need of a customer to receive the highest quality product at the lowest possible price.

a statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers’ needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers.

the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.

Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.

idea generation

product development

open innovation

new-product strategy development

The goal of a SWOT analysis is to:

identify market research questions in order to develop new products for new market segments. determine how raises, bonuses, and dividends will be paid.

identify the critical strategy-related factors that can impact the firm. reorganize the firm’s marketing department.

Marketing research refers to:

the science of using observable human behavior in order to identify and solve marketing problems.

the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.

the use of information technology to find objective solutions to a marketing problem.

the process of systematically collecting and analyzing information in order to define a marketing problem.

There is no single “generic” marketing plan that can apply to all organizations or all institutions. Rather, the specific format for a marketing plan for an organization depends on the following: the industry, the kind and complexity of the organization, and ________.

available resources

the financial investment needed

the competition

the target audience and purpose

Which of the following conditions are necessary for marketing to occur?

a quality product, a fair price, a clever method of promotion, and a place where a customer can buy the product

two or more people, a product, a reasonable price, and a place to make an exchange

two or more people, a method of assessing needs, a way to communicate, and an exchange

two or more parties with unsatisfied needs, a desire and an ability to satisfy them, a way to communicate, and something to exchange

Online retail purchases by consumers can be the result of several very different approaches, which include: (1) paying dues to become a member of an online discount service; (2) participating in an online auction; (3) going directly to online malls; and (4) _______.

participating in a buying cooperative becoming a secret shopper

using a shopping “bot” to search for a product at locations with the best price becoming a member of a research group that evaluates new products

Environmental scanning refers to:

assessing any possible negative impact a firm’s activities might have on the local ecology. setting up a regular schedule to assess the performance of different divisions within a firm.

continually acquiring information on events occurring outside the organization to identify and interpret potential trends.

initiating an internal talent search to identify employees who can think “outside the box” to generate solutions to marketing problems caused by changes in the marketing environment.

Relationship selling refers to:

the assignment of a single salesperson to a single customer throughout the entire sales process.

the practice of building ties to customers based on a salesperson’s attention and commitment to customer needs over time.

when suppliers and sellers combine their expertise and resources to create customized solutions; commit to joint planning; and share customer, competitive, and company information for their mutual benefit, and ultimately the customer.

the practice of maintaining contact with a customer on a regularly scheduled basis following the initial sale of a product or service.

A global marketing strategy refers to:

the strategy currently used by most U.S. domestic firms that when entering a new international market, these firms offer only those products that require the least amount of product adaptation.

the global strategy of seeking out already established firms in other nations and selling them the rights to manufacture and distribute the firm’s products through a host nation’s local businesses.

the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.

the strategy used by multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business.

Segmentation based on some subjective mental or emotional attributes, aspirations, or needs of prospective customers is referred to as:

socioeconomic segmentation.

psychosocial segmentation.

affective segmentation.

psychographic segmentation.

Computer-based networks that trigger actions by sensing changes in the real or digital world are known as:

global marketing platforms.

convergent systems.

intelligence technologies.

smart systems.

The study of similarities and differences among consumers in two or more nations or societies is referred to as __________.

transnational finance

market synthesis

cross-cultural analysis

international sociographics

Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that make up a firm’s __________.

marketing mix

promotional mix

communication source

media strategy

Neuromarketing is becoming more important in marketing as experts realize that traditional research methods such as focus groups and surveys may not be enough to understand what drives consumer purchase behavior due to:

It is not possible to formulate questions without bias

Consumers cannot verbalize their emotional responses

The data obtained is not quantifiable

The sample size is too small

Which of the following transactions occurred in the marketspace?

Connie sold Discovery Toys creative puzzles at an in-home demonstration.

Josh bought his mother a menorah through the Source for Everything Jewish gift catalog by calling a toll-free telephone number.

Corey bought a double-dipped chocolate ice cream cone from the ice cream person when his mobile ice cream truck came down the street.

Joan bought a brand new pair of Dansko shoes through Zappos.com.

Four trends in the past decade have significantly influenced the landscape of global marketing. One of them is:

a decrease in most countries’ GDPs and a renewal of nationalism.

the emergence of networked global marketspace.

a more aggressive attitude towards initiating international tariffs and quota systems.

an increase in most countries’ GDPs coupled with an increased degree of consumer ethnocentrism.

The term branding refers to __________.

the licensing of a name, phrase, design, symbol, or combination of these for a period of 17 years, at which time a firm may renew its intellectual property rights to them

an organization’s use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors

the establishment of a commercial, legal name under which a company does business

the identification of an organization’s products based upon individual SKUs

The term branding refers to __________.

the licensing of a name, phrase, design, symbol, or combination of these for a period of 17 years, at which time a firm may renew its intellectual property rights to them

an organization’s use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors

the establishment of a commercial, legal name under which a company does business

the identification of an organization’s products based upon individual SKUs

The initial step in the strategic marketing process is to begin planning by conducting a _______.

situation (SWOT) analysis

market-product analysis and setting goals

diversification analysis

business portfolio analysis.

#MKT 421 Final Exam Answers – New 2016

0 notes

cindyjohnson-blog1 · 7 years ago

Text

MKT 421 Final Exam Answers – New 2016

Follow Below Link to Download Tutorial

https://homeworklance.com/downloads/mkt-421-final-exam-answers-2/

For More Information Visit Our Website ( https://homeworklance.com/ )

Email us At: [email protected] or [email protected]

A __________ is a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.

marketing dashboard

marketing plan

operation plan

mission statement

What is meant by “accelerating the process?”

Increase advertising costs during product launch

Speed up new product time to market

Identify major competitors early

Create a new market space

The product life cycle refers to __________.

a concept that describes the stages a new product goes through from product concept to commercialization

the average life span of a product

a concept that describes the stages a product goes through in the marketplace—early growth, accelerated development, maturity, and decline

a concept that describes the stages a product goes through in the marketplace—introduction, growth, maturity, and decline

Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store. He is the

ultimate consumer in a pipeline from the producer through intermediaries, including the clothing store. This pipeline is actually a _______.

marketing channel

marketing tunnel

consumer market

distribution matrix

What is the marketing objective for the growth stage of the product life cycle?

maintain brand loyalty

minimize promotion

increase market share

stress differentiation

mainstream marketing

societal marketing

relationship marketing

market aggregation

Marketing refers to:

the production of products or services that will generate the highest return on investment.

the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.

the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers.

the process of identifying target market segments for a product or service.

Variables such as location, the North American Industry Classification System (NAICS) code, and type of buy are all examples of ways to:

promote NAFTA.

segment an organizational market.

forecast sales to a consumer market.

differentiate products.

While pricing objectives frequently reflect corporate goals, pricing constraints often relate to:

stockholder demands.

conditions existing in the marketplace. an organization’s code of ethics.

the financial realities within the organization itself.

In personal branding, the “price” component of the marketing mix refers to:

The number of hours you spend job searching

The annual cost of maintaining online profiles (such as LinkedIn)

The expense associated with job-hunting

The salary range and job benefits you hope to receive

new-product strategy development

market testing

development

screening and evaluation

Customer value refers to:

the cluster of benefits that an organization promises customers to satisfy their needs.

the need of a customer to receive the highest quality product at the lowest possible price.

the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.

Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.

idea generation

product development

open innovation

new-product strategy development

The goal of a SWOT analysis is to:

identify market research questions in order to develop new products for new market segments. determine how raises, bonuses, and dividends will be paid.

identify the critical strategy-related factors that can impact the firm. reorganize the firm’s marketing department.

Marketing research refers to:

the science of using observable human behavior in order to identify and solve marketing problems.

the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.

the use of information technology to find objective solutions to a marketing problem.

the process of systematically collecting and analyzing information in order to define a marketing problem.

available resources

the financial investment needed

the competition

the target audience and purpose

Which of the following conditions are necessary for marketing to occur?

a quality product, a fair price, a clever method of promotion, and a place where a customer can buy the product

two or more people, a product, a reasonable price, and a place to make an exchange

two or more people, a method of assessing needs, a way to communicate, and an exchange

two or more parties with unsatisfied needs, a desire and an ability to satisfy them, a way to communicate, and something to exchange

participating in a buying cooperative becoming a secret shopper

using a shopping “bot” to search for a product at locations with the best price becoming a member of a research group that evaluates new products

Environmental scanning refers to:

assessing any possible negative impact a firm’s activities might have on the local ecology. setting up a regular schedule to assess the performance of different divisions within a firm.

continually acquiring information on events occurring outside the organization to identify and interpret potential trends.

initiating an internal talent search to identify employees who can think “outside the box” to generate solutions to marketing problems caused by changes in the marketing environment.

Relationship selling refers to:

the assignment of a single salesperson to a single customer throughout the entire sales process.

the practice of building ties to customers based on a salesperson’s attention and commitment to customer needs over time.

the practice of maintaining contact with a customer on a regularly scheduled basis following the initial sale of a product or service.

A global marketing strategy refers to:

the strategy currently used by most U.S. domestic firms that when entering a new international market, these firms offer only those products that require the least amount of product adaptation.

the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.

the strategy used by multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business.

Segmentation based on some subjective mental or emotional attributes, aspirations, or needs of prospective customers is referred to as:

socioeconomic segmentation.

psychosocial segmentation.

affective segmentation.

psychographic segmentation.

Computer-based networks that trigger actions by sensing changes in the real or digital world are known as:

global marketing platforms.

convergent systems.

intelligence technologies.

smart systems.

The study of similarities and differences among consumers in two or more nations or societies is referred to as __________.

transnational finance

market synthesis

cross-cultural analysis

international sociographics

Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that make up a firm’s __________.

marketing mix

promotional mix

communication source

media strategy

It is not possible to formulate questions without bias

Consumers cannot verbalize their emotional responses

The data obtained is not quantifiable

The sample size is too small

Which of the following transactions occurred in the marketspace?

Connie sold Discovery Toys creative puzzles at an in-home demonstration.

Josh bought his mother a menorah through the Source for Everything Jewish gift catalog by calling a toll-free telephone number.

Corey bought a double-dipped chocolate ice cream cone from the ice cream person when his mobile ice cream truck came down the street.

Joan bought a brand new pair of Dansko shoes through Zappos.com.

Four trends in the past decade have significantly influenced the landscape of global marketing. One of them is:

a decrease in most countries’ GDPs and a renewal of nationalism.

the emergence of networked global marketspace.

a more aggressive attitude towards initiating international tariffs and quota systems.

an increase in most countries’ GDPs coupled with an increased degree of consumer ethnocentrism.

The term branding refers to __________.

the licensing of a name, phrase, design, symbol, or combination of these for a period of 17 years, at which time a firm may renew its intellectual property rights to them

an organization’s use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors

the establishment of a commercial, legal name under which a company does business

the identification of an organization’s products based upon individual SKUs

The term branding refers to __________.

the licensing of a name, phrase, design, symbol, or combination of these for a period of 17 years, at which time a firm may renew its intellectual property rights to them

an organization’s use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors

the establishment of a commercial, legal name under which a company does business

the identification of an organization’s products based upon individual SKUs

The initial step in the strategic marketing process is to begin planning by conducting a _______.

situation (SWOT) analysis

market-product analysis and setting goals

diversification analysis

business portfolio analysis.

#MKT 421 Final Exam Answers – New 2016

0 notes

kennethboettcher-blog · 7 years ago

Text

MKT 421 Final Exam Answers – New 2016

Follow Below Link to Download Tutorial

https://homeworklance.com/downloads/mkt-421-final-exam-answers-2/

For More Information Visit Our Website ( https://homeworklance.com/ )

Email us At: [email protected] or [email protected]

A __________ is a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.

marketing dashboard

marketing plan

operation plan

mission statement

What is meant by “accelerating the process?”

Increase advertising costs during product launch

Speed up new product time to market

Identify major competitors early

Create a new market space

The product life cycle refers to __________.

a concept that describes the stages a new product goes through from product concept to commercialization

the average life span of a product

a concept that describes the stages a product goes through in the marketplace—early growth, accelerated development, maturity, and decline

a concept that describes the stages a product goes through in the marketplace—introduction, growth, maturity, and decline

Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store. He is the

ultimate consumer in a pipeline from the producer through intermediaries, including the clothing store. This pipeline is actually a _______.

marketing channel

marketing tunnel

consumer market

distribution matrix

What is the marketing objective for the growth stage of the product life cycle?

maintain brand loyalty

minimize promotion

increase market share

stress differentiation

mainstream marketing

societal marketing

relationship marketing

market aggregation

Marketing refers to:

the production of products or services that will generate the highest return on investment.

the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.

the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers.

the process of identifying target market segments for a product or service.

Variables such as location, the North American Industry Classification System (NAICS) code, and type of buy are all examples of ways to:

promote NAFTA.

segment an organizational market.

forecast sales to a consumer market.

differentiate products.

While pricing objectives frequently reflect corporate goals, pricing constraints often relate to:

stockholder demands.

conditions existing in the marketplace. an organization’s code of ethics.

the financial realities within the organization itself.

In personal branding, the “price” component of the marketing mix refers to:

The number of hours you spend job searching

The annual cost of maintaining online profiles (such as LinkedIn)

The expense associated with job-hunting

The salary range and job benefits you hope to receive

new-product strategy development

market testing

development

screening and evaluation

Customer value refers to:

the cluster of benefits that an organization promises customers to satisfy their needs.

the need of a customer to receive the highest quality product at the lowest possible price.

the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.

Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.

idea generation

product development

open innovation

new-product strategy development

The goal of a SWOT analysis is to:

identify market research questions in order to develop new products for new market segments. determine how raises, bonuses, and dividends will be paid.

identify the critical strategy-related factors that can impact the firm. reorganize the firm’s marketing department.

Marketing research refers to:

the science of using observable human behavior in order to identify and solve marketing problems.

the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.

the use of information technology to find objective solutions to a marketing problem.

the process of systematically collecting and analyzing information in order to define a marketing problem.

available resources

the financial investment needed

the competition

the target audience and purpose

Which of the following conditions are necessary for marketing to occur?

a quality product, a fair price, a clever method of promotion, and a place where a customer can buy the product

two or more people, a product, a reasonable price, and a place to make an exchange

two or more people, a method of assessing needs, a way to communicate, and an exchange

two or more parties with unsatisfied needs, a desire and an ability to satisfy them, a way to communicate, and something to exchange

participating in a buying cooperative becoming a secret shopper

using a shopping “bot” to search for a product at locations with the best price becoming a member of a research group that evaluates new products

Environmental scanning refers to:

assessing any possible negative impact a firm’s activities might have on the local ecology. setting up a regular schedule to assess the performance of different divisions within a firm.

continually acquiring information on events occurring outside the organization to identify and interpret potential trends.

initiating an internal talent search to identify employees who can think “outside the box” to generate solutions to marketing problems caused by changes in the marketing environment.

Relationship selling refers to:

the assignment of a single salesperson to a single customer throughout the entire sales process.

the practice of building ties to customers based on a salesperson’s attention and commitment to customer needs over time.

the practice of maintaining contact with a customer on a regularly scheduled basis following the initial sale of a product or service.

A global marketing strategy refers to:

the strategy currently used by most U.S. domestic firms that when entering a new international market, these firms offer only those products that require the least amount of product adaptation.

the strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ.

the strategy used by multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business.

Segmentation based on some subjective mental or emotional attributes, aspirations, or needs of prospective customers is referred to as:

socioeconomic segmentation.

psychosocial segmentation.

affective segmentation.

psychographic segmentation.

Computer-based networks that trigger actions by sensing changes in the real or digital world are known as:

global marketing platforms.

convergent systems.

intelligence technologies.

smart systems.

The study of similarities and differences among consumers in two or more nations or societies is referred to as __________.

transnational finance

market synthesis

cross-cultural analysis

international sociographics

Advertising, personal selling, sales promotion, public relations, and direct marketing are marketing communications alternatives that make up a firm’s __________.

marketing mix

promotional mix

communication source

media strategy

It is not possible to formulate questions without bias

Consumers cannot verbalize their emotional responses

The data obtained is not quantifiable

The sample size is too small

Which of the following transactions occurred in the marketspace?

Connie sold Discovery Toys creative puzzles at an in-home demonstration.

Josh bought his mother a menorah through the Source for Everything Jewish gift catalog by calling a toll-free telephone number.

Corey bought a double-dipped chocolate ice cream cone from the ice cream person when his mobile ice cream truck came down the street.

Joan bought a brand new pair of Dansko shoes through Zappos.com.

Four trends in the past decade have significantly influenced the landscape of global marketing. One of them is:

a decrease in most countries’ GDPs and a renewal of nationalism.

the emergence of networked global marketspace.

a more aggressive attitude towards initiating international tariffs and quota systems.

an increase in most countries’ GDPs coupled with an increased degree of consumer ethnocentrism.

The term branding refers to __________.

the licensing of a name, phrase, design, symbol, or combination of these for a period of 17 years, at which time a firm may renew its intellectual property rights to them

an organization’s use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors

the establishment of a commercial, legal name under which a company does business

the identification of an organization’s products based upon individual SKUs

The term branding refers to __________.

the licensing of a name, phrase, design, symbol, or combination of these for a period of 17 years, at which time a firm may renew its intellectual property rights to them

an organization’s use of a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors

the establishment of a commercial, legal name under which a company does business

the identification of an organization’s products based upon individual SKUs

The initial step in the strategic marketing process is to begin planning by conducting a _______.

situation (SWOT) analysis

market-product analysis and setting goals

diversification analysis

business portfolio analysis.

#MKT 421 Final Exam Answers – New 2016

0 notes

studentehelp8 · 8 years ago

Text

MKT 421 Final Exam

Question 1

Which of the following statements best describes the modern view of marketing?

Answer

A. Marketing is concerned with generating a single exchange between a firm and a customer.

B. The job of marketing is to get rid of whatever the company is producing.

C. Marketing should take over production, accounting, and financial services within a firm.

D. Marketing begins with anticipating potential customer needs

Question 2

Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of

Answer

A. Marketing.

B. Production.

C. A command economy.

D. Making goods or performing services

Question 3

For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is:

Answer

A. An example of the micro-macro dilemma.

B. A part of marketing.

C. A production activity.

D. One of the universal functions of innovation

Question 4

To compete more successfully with its many competitors offering packaged cookies, Famous Amos added its own line of extra chunky premium cookies. This seems to be an effort at:

Answer

A. Market development.

B. Product development.

C. Market penetration.

D. Combination

Question 5

Professional Dental Supply has been successfully selling dental instruments to dentists for the past 20 years, and has developed strong customer relations. When looking for new marketing opportunities, Professional Dental Supply will most likely look first at

Answer

A. Market development.

B. Product development.

C. Diversification.

D. Market penetration.

Question 6

Which of the following statements regarding marketing strategies is FALSE?

Answer

A. Developing successful marketing strategies does not need to be a hit-or-miss proposition.

B. These strategies require decisions about the specific customers the firm will target and the marketing mix the firm will develop to appeal to that target market.

C. These strategies must meet the needs of target customers, and a firm is likely to get a competitive advantage if it just meets needs in the same way as some other firm.

D. It is useful to think of the marketing strategy planning process as a narrowing-down process

Question 7

Which of the following is true?

Answer

A. The product P in the marketing mix stands for only tangible merchandise.

B. The product P in the marketing mix stands for both physical goods and tangible

C. The product P in the marketing mix stands for both physical goods and services.

D. The product P in the marketing mix stands for only physical goods

Question 8

The four Ps of a marketing mix are:

Answer

A. Product, Price, Promotion, and Profit

B. Product, Place, Promotion, and Price

C. Promotion, Production, Price, and People

D. Production, Personnel, Price, and Physical Distribution

Question 9

A firm's marketing mix decision areas would NOT include:

Answer

A. Price

B. People

C. Product

D. Promotion

Question 10

Big Fizz Co., a manufacturer of cola-flavored drinks, wants to add packaged fruit juices to its existing product line. Big Fizz must make some decisions regarding packaging and branding of the fruit juices. These decisions would fall under which variable of the marketing mix?

Answer

A. Promotion

B. Place

C. Price

D. Product

Question 11

When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:

Answer

A. Store location is to sales force selection.

B. Production is to marketing.

C. Personal selling is to mass selling.

D. Branding is to pricing

Question 12

The ______ area of the marketing mix is concerned with decisions about getting the right product to the target market when and where it is wanted.

Answer

A. Promotion

B. People

C. Place

D. Product

Question 13

The main difference between a marketing strategy and a marketing plan is that:

Answer

A. A marketing strategy provides more detail.

B. A marketing plan includes several marketing strategies.

C. A marketing strategy omits pricing plans.

D. Time-related details are included in a marketing plan.

Question 14

Which of the following would probably NOT be in a proposed marketing plan?

Answer

A. Expected sales and profit results.

B. A statement of how frequently the design of the website will be changed.

C. A description of the target market and marketing mix.

D. A list of what company resources (costs) would be required.

Question 15

A marketing plan is:

Answer

A. A marketing strategy—plus the time-related details for carrying it out.

B. A marketing strategy.

C. A target market and a related marketing mix.

D. A marketing program.

Question 16

Marketing strategy planners should recognize that:

Answer

A. Large firms like General Electric, Target, and Procter & Gamble are too large to aim at clearly defined markets.

B. Mass marketing is often very effective and desirable.

C. Target marketing is not limited to small market segments.

D. Target markets should not be large and spread out.

Question 17

Good marketing strategy planners know that:

Answer

A. Mass marketing is often very desirable and effective.

B. Target marketing does not limit one to small market segments.

C. The terms mass marketing and mass marketer mean basically the same thing.

D. Firms like Nabisco and WalMart are too large to aim at clearly defined target markets

Question 18

Target marketing, in contrast to mass marketing,

Answer

A. Ignores markets that are large and spread out.

B. Is limited to small market segments.

C. Focuses on fairly homogeneous market segments.

D. Assumes that all customers are basically the same.

Question 19

______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

Answer

A. Mass marketing

B. Market positioning

C. Diversification

D. Market segmentation

Question 20

Clustering techniques applied to segmenting markets

Answer

A. Usually require computers to group people based on data from market research.

B. Remove the need for managerial judgment.

C. Eliminate the need for marketing managers to specify in advance what dimensions might be relevant for grouping consumers.

D. All of the above are true.

Question 21

The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable marketing mixes is called:

Answer

A. Market development.

B. Market penetration.

C. Market research.

D. Market segmentation.

Question 22

________________ ________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions.

Answer

A. Marketing structure.

B. Marketing planning.

C. Marketing research.

D. Marketing processing.

Question 23

Procedures that develop and analyze new information to help marketing managers make decisions are called:

Answer

A. Analytical research.

B. Strategy planning.

C. Marketing research.

D. Operational planning.

Question 24

A ______________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions.

Answer

A. Marketing research project

B. Marketing information system

C. Marketing research department

D. Marketing model

Question 25

Marketing research which seeks structured responses that can be summarized is called:

Answer

A. Qualitative research.

B. Focus group research.

C. Situation analysis research.

D. Quantitative research.

Question 26

When focus group interviews are used in marketing,

Answer

A. It is primarily as a follow-up to more quantitative research.

B. Each person in the group answers the same questionnaire, to focus the discussion.

C. The research conclusions will vary depending on who watches the interview whether online or off-line.

D. The typical group size is 15 to 20 typical consumers whether online or off-line.

Question 27

One of the major disadvantages of the focus group interview approach is that

Answer

A. It is difficult to get in-depth information about the research topic.

B. There is no interviewer, so the research questions may not be answered.

C. It is difficult to measure the results objectively.

D. Ideas generated by the group cannot be tested later with other research.

Question 28

Which of the following statements about consumer products is true?

Answer

A. Specialty products are those that customers usually are least willing to search for.

B. Unsought products are not shopped for at all.

C. Shopping products are those products for which customers usually want to use routinized buying behavior.

D. Convenience products are those that customers want to buy at the lowest possible price.

Question 29

The marketing manager at Massimino & McCarthy, a chain of retail stores that sells men's clothing, is reviewing marketing research data to try to determine if changes in marketing strategy are needed. Which of the following sources of data would be a secondary data source?

Answer

A. Making phone calls to some of the best customers to learn their interest in a new line of clothing.

B. Spending time in stores observing customers' behavior.

C. Reviewing videotapes of a recent focus group.

D. Looking through the company's marketing information system to see past sales trends.

Question 30

The attitudes and behavior patterns of people are part of the

Answer

A. Competitive environment.

B. Firm's resources and objectives.

C. Social and cultural environment.

D. Political environment.

Question 31

______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

Answer

A. Mass marketing

B. Market positioning

C. Strategic planning

D. Market segmentation

Question 32

Which is the first step in market segmentation?

Answer

A. Naming a broad product-market of interest to the firm.

B. Evaluating market segments to determine if they are large enough.

C. Clustering people with similar needs into a market segment.

D. Finding one or two demographic characteristics to divide up the whole mass market.

Question 33

The first step in market segmentation should be:

Answer

A. Finding a demographic group likely to use your products.

B. Defining some broad product-markets where you may be able to operate profitably.

C. Evaluating what segment(s) you currently serve.

D. Deciding what new product you could develop.

Question 34

Tom and Sally Jones are preparing to purchase a new car. He currently has a Toyota Camry and she has a Honda Accord. They now have two children under age 5, so they plan to trade in Sally's car to purchase a minivan. Sally and Tom decided on a Honda Odyssey because Sally is familiar with Hondas and thinks they are very reliable. In this purchase situation, Tom and Sally's family life cycle stage is a _____________ segmentation dimension, and the benefit Sally seeks (reliability) is a _____________ segmentation dimension.

Answer

A. Geographic; behavioral.

B. Demographic; geographic.

C. Demographic; behavioral.

D. Geographic; demographic.

Question 35

The product life cycle:

Answer

A. Applies more to individual brands than to categories or types of products.

B. Shows that sales and profits tend to move together over time.

C. Has five major stages.

D. Describes the stages a new product idea goes through from beginning to end.

Question 36

The product life cycle has four stages. Which of the following is NOT one of these?

Answer

A. Market maturity

B. Market growth

C. Market introduction

D. Economic competition

Question 37

Which of the following observations concerning the market maturity stage is NOT TRUE?

Answer

A. New firms cannot enter the market at this stage.

B. There is a long-run downward pressure on prices.

C. Many aggressive competitors have entered the race for profits.

D. Promotion costs rise and some competitors cut prices to attract business.

Question 38

During the market introduction stage of the product life cycle:

Answer

A. Most potential customers are quite anxious to try out the new-product concept.

B. Products usually show large profits if marketers have successfully carved out new markets.

C. Considerable money is spent on promotion while place development is left until later stages.

D. Funds are being invested in marketing with the expectation of future profits.

Question 39

Cargill, Inc. is finally earning a profit on the unique product it introduced 6 months ago. Cargill's advertising is both informative and persuasive. Much money is being spent on Place development. There is little price competition, although several competitors have come out with reasonable imitations. Total industry sales and profits are both rising. In which stage of the product life cycle is Cargill operating?

Answer

A. Sales decline

B. Market introduction

C. Market growth

D. Market maturity

Question 40

Noise (in the traditional communication process) refers to:

Answer

A. Messages which are too loud or bold.

B. Radio advertising interference only.

C. Any distractions that reduce the effectiveness of the communication process.

D. Efforts by a firm's competitors to block its message channel.

Question 41

While watching a television program, Liza gets a phone call just as a commercial is starting. She presses the mute button on the television's remote control and takes the call, so she pays no attention to the commercial. In terms of the communication process, the telephone call is an example of:

Answer

A. Decoding.

B. Noise.

C. Encoding.

D. Feedback.

Question 42

Advertising allowances

Answer

A. Allow for coordination and integration of ad messages in the channel.

B. Involve intermediaries and producers sharing in the cost of ads.

C. Are price reductions to firms further along in the channel to encourage them to advertise or otherwise promote the firm's products locally.

D. Set the allowance amount as a percent of the retailer's actual purchases.

Question 43

A producer using very aggressive promotion to get final consumers to ask intermediaries for a new product has:

Answer

A. A selective distribution policy.

B. A target marketing policy.

C. A pulling policy

D. A pushing policy.

Question 44

A producer using normal promotion efforts—personal selling, sales promotion, and advertising—to help sell a whole marketing mix to possible channel members has:

Answer

A. An intensive distribution policy.

B. A target marketing policy.

C. A selective distribution policy.

D. A pushing policy.

Question 45

Integrated direct-response promotion:

Answer

A. Is not necessary or useful when the channel of distribution involves intermediaries.

B. Is usually part of a pushing effort rather than part of a pulling approach.

C. Focuses on achieving a measurable, direct response from specific target customers.(Correct answer)

D. None of these are true.

Question 46

Positioning analysis

Answer

A. Is not a product-oriented approach.

B. Helps managers understand the actual characteristics of their products.

C. Is a visual aid to understanding a product-market.

D. Shows that managers and customers usually view present brands similarly.

Question 47

Which of the following statements about positioning is NOT TRUE?

Answer

A. It refers to how customers think about proposed or present brands in a market.

B. It often makes use of techniques such as perceptual mapping.

C. Positioning issues are especially important when competitors in a market are very dissimilar.

D. It helps marketing managers know how customers view the firm's offering.

Question 48

When segmenting broad product-markets, cost considerations tend

Answer

A. To lead to more aggregating.

B. To encourage managers to disregard the criterion that a product-market segment should be substantial.

C. To be unimportant as long as the segmenting dimensions are operational.

D. To lead to a large number of small, but very homogeneous, product-market segments.

Question 49

When a company grows globally, this is an example of:

Answer

A. Product development.

B. Market development

C. Diversification.

D. Market penetration.

Question 50

Which of the following is NOT a trend affecting marketing strategy planning in the area of international marketing?

Answer

A. More attention to exporting by small companies.

B. Tensions between have and have-not cultures.

C. Global communication over the Internet.

D. Decreasing role of airfreight.

Question 51

A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

Answer

A. Standard market

B. Generic market

C. Target market

D. Product-market

Question 52

Which of the following is a key trend affecting marketing strategy planning?

Answer

A. Slower new-product development.

B. Senior and ethnic submarkets are getting smaller.

C. Less use of technology in personal selling.

D. Growth of marketing information systems.

Question 53

It is usually the _________ job, perhaps with help from specialists in technology, to decide what types of sales technology tools are needed and how they will be used.

Answer

A. Procurement manager's

B. Sales manager's

C. Marketing executive's

D. Purchasing manager's

Question 54

Identify the incorrect statement about sales promotions.

Answer

A. Sales promotions can be used as tools to overcome customer price resistance.

B. Changes in technology have made sales promotions more efficient.

C. Sales promotions have increased because of competition in emerging markets.

D. The availability of more ad agencies and specialists has spurred growth in sales promotions.

Question 55

Which of the following is a key trend affecting marketing strategy planning?

Answer

A. Slower new-product development.

B. Less use of technology in personal selling.

C. Growth of marketing information systems.

D. Senior and ethnic submarkets are getting smaller.

Question 56

The future poses many challenges for marketing managers because:

Answer

A. New technologies are making it easier to abuse consumers' rights to privacy.

B. The marketing concept has become obsolete.

C. It is marketing managers who have full responsibility to preserve our macro-marketing system.

D. Social responsibility applies only to firms—not to consumers.

Question 57

Many Internet sites, such as Autobytel.com and Edmunds.com, have extensive information about the prices of new and used vehicles that anyone can use for free. In light of the availability of this information, what is the responsibility of consumers to use it?

Answer

A. Consumers should not trust any information they receive from any source except the government.

B. Consumers should not use it because it gives them an unfair advantage over car dealers.

C. Consumers have a responsibility to use the information and be smarter customers.

D. Consumers can use it, but should not feel a responsibility to do so.