2023 MKT 575 Final Exam April 2017 1 In the step of the | Assignments Online
2023 MKT 575 Final Exam April 2017 1 In the step of the | Assignments Online
Assignments Online 2023 Business & Finance
MKT 575 Final Exam April 2017
1
In the _____ step of the new-product development process, a marketing manager evaluates how well the idea fits with the company’s objectives.
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screening
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idea generation
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commercialization
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development
2
Alpine Auto Repair keeps a record of customer oil changes and sends a reminder postcard to its customers when it’s time for the next oil change. This is an example of a ______ system.
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clustering
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qualifying dimensions
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customer relationship management
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geographic targeting
3
At Home Depot, a customer can purchase a gallon of one-coat paint that contains the ingredients for both a primer and a color. What is the primary economic need being satisfied by this type of paint?
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Economy of purchase
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Convenience
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Improvement of earnings
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Dependability in use
4
Whitewater Corp. is looking for a new vendor for basic plastics because the present vendor has been inconsistent about meeting delivery schedules. Which of the following buying processes is the firm’s purchasing agent MOST LIKELY to use?
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Modified rebuy buying
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Selective buying
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Straight rebuy buying
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Intensive buying
5
Brand recognition, brand preference, and brand insistence are various levels of __________.
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branding
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brand equity
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brand familiarity
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brand marks
6
A marketing auditor for a firm will most likely__________.
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set company-wide objectives and targets in line with the marketing plan
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develop marketing plans for the firm based on the current plans being implemented
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evaluate the marketing plans being implemented by the firm to see if they are still the best plans the firm can offer
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interview employees of the firm to determine the level of job satisfaction
7
In general, marketers that seek greater control over their marketing mixes in the international environment will__________.
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hire more marketing managers
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use intensive distribution
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invest more financial resources and take greater risks
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set up traditional global channels
8
When Fresh Produce Wholesaler Inc. buys fruit and vegetables from a variety of different farmers and takes large bushels and breaks them into smaller package sizes. Fresh Produce is addressing__________.
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discrepancies of time
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discrepancies of assortment
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discrepancies of need
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discrepancies of quantity
9
When planning a marketing strategy, managers have control over__________.
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consumers
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the economic environment
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the political and legal environment
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their response to forces in the external market environment
10
All of the following are supply chain risks except:
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supplier viability
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stock market volatility
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availability of raw materials
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fluctuating transportation costs
11
The main difference between a “marketing strategy” and a “marketing plan” is that___________.
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time-related details are included in a marketing plan
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a marketing plan does not include a target market
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a marketing strategy provides more detail
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a marketing plan includes several marketing strategies
12
Studies have shown that customers who weren’t satisfied with response to their complaints__________.
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spoke about their experience only when prodded by researchers
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on average told one person about their experience
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on average told ten people about their experience
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usually never spoke about it
13
Strategy decisions pertaining to product features, packaging, product line assortment, and branding will be most affected by which target market dimension?
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Urgency to get need satisfied
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Demographic characteristics of potential customers
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Behavioral needs and attitudes of consumers
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Geographic location
14
A(n) _______ is a marketing mix that customers see as better than a competitor’s mix and cannot be quickly or easily copied.
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competitor analysis plan
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competitor matrix
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resource combination
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sustainable competitive advantage
15
Vision Co. manufactures and sells tea, coffee, desserts, shoes, and sporting goods — all under the Vision brand name. These products are__________.
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generic products
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dealer brands
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sold with a family brand
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the firm’s product line
16
Which of the following is the most comprehensive goal of marketing contingency planning?
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meeting competitive challenges
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understanding the changing internal and external environments
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preparing for any possible natural disasters
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remaining relevant in the eyes of customers and stakeholders
17
A marketer will likely need to reposition a product if__________.
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customers see the product as very similar to other products in the market
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marketers see the product as distinct from other products in the market
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customers see the product as distinct from other products in the market
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marketers see the product as very similar to other products in the market
18
New products that are minor variations on existing products, and which require no change to consumer behavior, are called __________.
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second movers
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continuous innovations
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new products
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discontinuous innovation
19
Which of the following is a key trend affecting marketing strategy planning?
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Growth of marketing information systems
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Senior and ethnic submarkets are getting smaller.
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Slower new-product development
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Less international market development
20
Which of the following would be relevant in the marketing company era?
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focusing on production
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planning for five or more years ahead
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reselling goods to consumers and intermediaries
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bringing all marketing activities together under the control of one department
21
Firms develop _____ to promote fair and honest dealings with all stakeholders inside and outside of the organization.
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a marketing orientation
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codes of ethics
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intermediaries
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marketing plans
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marketing departments
22
Managers should make operational decisions___________.
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on a month-to-month basis and never daily or weekly
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for the long-run to help formulate strategic plans
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with great care as these decisions are the same as strategic decisions
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within the guidelines set down during strategy planning
23
When Chase Bank mails a 30-day offer for a new pre-approved credit card with a $2,000 limit to a college student, this is an example of__________.
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indirect-response promotion
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direct-response promotion
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mass selling
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integration
24
Which of the following observations concerning sales analysis is NOT correct?
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It is a detailed breakdown of a company’s sales records.
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There is no one best way to break down sales data.
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Product category is the best way to analyze sales data.
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It is easy to do, and usually it’s inexpensive.
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Data can easily be obtained from basic billing and accounts receivable procedures.
25
Clairol Corp. is introducing a new brand of shampoo in a highly competitive market. Wholesalers might be willing to handle the new product, except that retailers are already complaining about overcrowded shelf space. Therefore, Clairol has decided to spend $10 million on TV advertising and send free samples to 3,000,000 households to convince consumers of the new product’s superiority — and to get them to ask for it at their retail store. Clairol is using__________.
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a “pulling” policy
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a “pushing” policy
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dual distribution
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direct marketing
26
Which of the following advertising approaches delivers ads to consumers based on the interactions they exhibit in media such as Facebook, Pinterest, and Twitter?
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Click fraud
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Digital targeting
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Social targeting
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Behavioral targeting
27
The process of market segmentation involves__________.
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selecting a marketing mix to reach everyone
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identifying small target markets and expanding them into broad product markets
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identifying broad product markets and segmenting then into narrower target markets
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identifying target groups with the fewest potential customers
28
The Bijou Classic Movie House changes ticket prices as demand for a movie increases or decreases. Prices can change every hour as ticket sales go up or down for particular shows. Bijou Classic Movie House appears to be using___________.
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seasonal discounts
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cumulative discounting
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status quo objectives
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dynamic pricing
29
A marketing manager wants to know why her sales are down. She talks with several sales reps and finds that a competitor has introduced a successful new product. This “research” seems to be part of___________.
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the data interpretation stage
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the problem solution stage
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the situation analysis
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obtaining problem-specific data
30
A firm with a marketing orientation is MOST likely to__________.
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not use any advertising
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recognize that effective advertising is the key to sales
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view advertising as an unnecessary expense
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advertise how a product meets customers’ needs
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