MKT 421 Final Exam (Version 2014-2015)

MKT 421 Final Exam (Version 2014-2015) and  Study guide of 75 questions 

1). Genetech Corp. has invested heavily to develop a patented new product. Genetech wants to achieve a rapid return on its investment. It probably should set a ______________ pricing objective.

2) . When an advertiser pays a fixed amount (e.g. 70 cents) each time a Web surfer clicks on the advertiser s ad and links to the advertiser s website, this process is called a(n):…
3) The advantages of working with an intermediary usually increase when there is:…
4) When a company provides its advertising agency with a statement about a new product to use in designing an advertising campaign, and this statement includes a description of the target market, the product type, the primary benefits of using the product, and how this product is different from, and better than, competitive products, what type of statement is this?
5) According to the concept of social responsibility, a firm has a duty to:
6). Clearwater Office Supply sells frequently purchased office supplies to businesses in a metropolitan area. It is a well established company with a large share of the market. Its promotion should probably focus on:…
7) The main difference between a marketing strategy and a marketing plan is that:…
8) More than 600,000 loyal customers signed up in advance to purchase the iPhone4 in an Apple store the first day it was available for sale in the U.S. What type of response behavior were these Apple followers demonstrating?
9) Because she frequently buys books at Amazon.com, Sophie Soleil set up an account and password at the website. Now, when she logs on and searches for a specific book, a note pops up at the center of her laptop screen saying: Hello, Sophie, we have recommendations for you, and proceeds to list other titles that Sophie might enjoy based on her previous purchases. Amazon can remember Sophie (and her previous purchases) because the online retailer uses:…
10) In which quadrant of the SWOT analysis tool does the following fit? A firm is in a fast growing industry.


11) The sales analysis of a product revealed that profits were highest when it was initially introduced into the market with a high selling price. However, the price was gradually reduced as it started facing competition as substitutes entered the market. This is an example of a(n) _____.
12) David Oreck advertises Oreck vacuum cleaners via commercials that run on national radio programs. He encourages consumers to…
13) Which of the following is true of direct distribution?
14) The three basic sales tasks are:…
15) The primary purpose of branding is:…
16) TammiSoloft has itchy eyes and a stuffy nose, and suddenly becomes aware of many TV ads for allergy products that she never noticed before. This illustrates:…
17) In the American Marketing Association s Statement of Ethics, which ethical value stresses a firm s attempts to balance the needs of its buyers with the interests of sellers?
18) Which of the following is a common cause of new product failures?
19) Marketers cannot assume that a product that meets consumer needs in one country will do so in another. This is because:
20).From the perspective of macro marketing, e commerce specialists CarFax (which provides vehicle history reports) and Cars.com (a website offering auto comparison shopping) have emerged within the auto industry because:…
21 .The main difference between the marketing department era and the marketing company era is:…
22 Behavioral targeting:…
23) In the 1990s, DVDs replaced audiocassettes and floppy disks as the storage media of choice for music and computers. At which stage of the product life cycle is the DVD today?
24) Blending the firm s promotion efforts to convey a complete and consistent message is the goal of:…
25) Compared with other approaches to business, the marketing concept is distinct in that it:…
26) When new product ideas are chosen based on ratings and comments from customers, this process is called ______.
27 A useful tool for organizing the competitor analysis is:…
28 Most firms in the business world set their prices using:…
29 A producer might use a pulling policy rather than a pushing policy if:…
30 The phrase big data refers to:…

Study guide of 75 questions

1) BigFizzCo.,a manufacturerofcola flavored drinks, wants to add packaged fruit juices to its existing product line.BigFizzmustmake somedecisions regardingpackagingand brandingof thefruit juices. These decisions would fall underwhich variableof the marketingmix?
2)Predictingwhat typesofbicycles different customers will wantand decidingwhich of these customers the business will tryto satisfyare activitiesa firmshould do as partof…
3)ForTesla,a newfirmthat makes anelectric sportscar,estimatinghowmanycompetitorswill make electric vehicles and whatkinds theywill make, is:…
4)To compete moresuccessfullywith its manycompetitorsofferingpackaged cookies, Famous Amos added its ownlineof extrachunkypremiumcookies. This seems to beaneffort at:…
5)Professional DentalSupplyhas beensuccessfullysellingdental instruments to dentistsfor the past20 years, andhasdeveloped strongcustomerrelations. Whenlooking fornewmarketingopportunities, Professional DentalSupplywill most likelylookfirst at…
6)Which of the following statements regardingmarketingstrategies is FALSE?
7)Which of the followingis true?
8)The four Ps of a marketingmix are:…
9)Afirm s marketingmix decisionareas wouldNOT include:…
10)Which of the following statements best describesthe modern viewof marketing?
11) Whenone considers the strategydecisions organized bythe four Ps, brandingis related to packagingas:…
12) The area of the marketingmix is concernedwithdecisions about gettingthe right product to thetarget market whenand where it is wanted.
13) The maindifference between amarketingstrategyand amarketingplan is that:
14) Whichof thefollowingwould probably NOTbe ina proposed marketingplan?
15) A marketingplan is:
16) Marketingstrategyplanners should recognize that:
17) Good marketingstrategyplanners knowthat:
18) Target marketing, incontrastto mass marketing,
19) isthe process of namingbroad product markets and thensegmentingthese broad product markets inorderto select target markets anddevelop suitable marketingmixes.
20) Clusteringtechniques applied to segmentingmarkets
21) The process of namingbroad product markets and thensegmentingthem inorderto selecttarget markets and develop suitablemarketingmixes is called:
22) utilizesqualitative and quantitative analysis procedurestohelp marketingmanagers makemore informed decisions.
23) Proceduresthat develop and analyzenew informationtohelp marketingmanagers makedecisions are called:
24) A is anorganized wayof continually gatheringand analyzingdata to get informationto help marketingmanagersmake ongoingdecisions.
25) Marketingresearchwhichseeks structured responses that canbe summarizedis called:
26) Whenfocus group interviews are used inmarketing,
27) One of the majordisadvantagesof thefocus groupinterviewapproach is that
28) Whichof thefollowingstatements about consumerproducts is true?
29) The marketingmanagerat Massimino&McCarthy,a chainof retail stores that sells men s clothing, is reviewingmarketingresearch data to try to determine if changes inmarketingstrategyare needed. Which of the followingsources of data would be a secondarydata source?
30) The attitudes and behaviorpatterns of people arepart of the
31) isthe process of namingbroad product markets and thensegmentingthese broad product markets inorderto select target markets anddevelop suitable marketingmixes.
32) Whichis thefirst step inmarket segmentation?
33) The first step inmarketsegmentationshould be:
34) Tomand SallyJones are preparingto purchase anewcar. He currentlyhas aToyota Camryand she has aHondaAccord. Theynow have two childrenunderage 5, so theyplan to trade inSally s carto purchase aminivan.Sallyand Tomdecided ona Honda OdysseybecauseSally is familiarwithHondas and thinkstheyare very reliable.Inthis purchase situation,TomandSally s familylife cycle stage is a segmentationdimension,and the benefitSallyseeks(reliability) is a segmentationdimension.
35) The product lifecycle:
36) The product lifecyclehas fourstages. Which of thefollowingis NOToneof these?
37) Whichof thefollowingobservations concerning the market maturitystage isNOTTRUE?
38) Duringthe market introductionstage of the product life cycle:
39) Cargill,Inc. is finallyearninga profit on theunique product it introduced 6 months ago.Cargill s advertisingis both informative and persuasive.Muchmoney is beingspent onPlace development. There is little pricecompetition,although several competitors have come out with reasonable imitations.Total industrysales andprofits are both rising.Inwhich stage of the product life cycle is Cargill operating?
40) Noise (inthe traditional communicationprocess) refers to:
41) While watchinga televisionprogram,Liza gets aphone call just as acommercial is starting. She presses the mute buttononthe television s remote control andtakes the call,soshe pays no attentionto thecommercial.Interms of the communicationprocess,the telephonecall is anexampleof:
42) Advertisingallowances
43) A producerusingveryaggressive promotionto get final consumers to ask intermediariesfora new product has:
44) A producerusingnormal promotionefforts…
45) Integrated direct response promotion:…
46) Positioninganalysis…
47) Whichof thefollowingstatements about positioningis NOTTRUE?
48) Whensegmentingbroad product markets,cost considerations tend…
49) Whena companygrows globally,this is anexample of:…
50) Whichof thefollowingis NOTa trend affectingmarketingstrategyplanninginthe area of international marketing?
51) A is amarket withverysimilarneeds and sellers offeringvarious close substitute ways of satisfyingthose needs.
52) Whichof thefollowingis akeytrendaffectingmarketingstrategyplanning?
53) It isusuallythe job,perhaps withhelp fromspecialists intechnology,to decide whattypes of salestechnologytools are needed and howtheywillbeused.
54) Identifythe incorrect statement about sales promotions.
55) Whichof thefollowingis keytrendaffectingmarketingstrategyplanning?
56) The future poses manychallenges formarketingmanagers because:…
57) ManyInternet sites, suchas Autobytel.comandEdmunds.com,have extensive informationabout the prices of newand used vehicles that anyone canuseforfree. Inlight ofthe availabilityof this information,what is the responsibilityof consumers to use it?
58) Hewlett Packard sells personal computers through specialty computer stores, electronics superstores, and its own Internet site. What is the marketing mix variable that is being considered here?
59) Price reductions given to channel members to encourage them to promote or otherwise promote a firm s products locally are…
60) When a company grows globally by introducing existing product lines to new markets, this is an example of what?
61) Product is NOT concerned with:…
62) The observing method in marketing research:…
63) A small manufacturing firm has just experienced a rapid drop in sales. The marketing manager thinks that he knows what the problem is and has been carefully analyzing secondary data to check his thinking. His next step should be to:…
64) Which of the following is a DEMOGRAPHIC segmenting dimension?
65) An industry s sales have leveled off and profits are declining in oligopolistic competition. Consumers see competing products as homogeneous. Several firms have dropped out of the industry, but a new one entered recently. Firms in the industry are trying to avoid price cutting by spending on persuasive advertising. These firms are competing in which stage of the product life cycle?
66) Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product market. To obtain some economies of scale, QCI decided NOT to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the…
67) Quality Ceramic, Inc., (QCI) defined five submarkets within its broad product market. To obtain some economies of scale, QCI decided NOT to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the
68) Which of the following functions are performed by wholesalers in the channel of distribution?
69) SGCA is having a sales contest to encourage retailers to quickly reduce the inventory of SuperGamer computers. Retailers with the highest sales during the next month win an expense paid trip to a special dealer meeting at a resort in Hawaii. This is…
70) Nantucket Hammocks, Inc., uses dealer incentives, discounts, and sales contests in order to encourage retailers to give special attention to selling its products. Nantucket Hammocks is using…
71) Typically the ______________ and the marketing manager are responsible for building good distribution channels and implementing place policies.
72) Nantucket Hammocks, Inc., uses dealer incentives, discounts, and sales contests in order to encourage retailers to give special attention to selling its products. Nantucket Hammocks is using…
73) Focus groups…
74) ______________ focuses on introducing new products to existing markets.
75) Which marketing column deals with television advertisements?

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