MKT/571 MKT 571 MKT571 FINAL EXAMINATION LATEST

1. Another basis for decision-making is referred to
as
ethical practices
ethical dilemmas
situational ethics
correct ethics
2. New-to-the-world products are ________.
existing products that are targeted to new geographical markets
new product enhancements that supplement established products
low-cost products designed to obtain an edge in highly competitive markets
new products that create an entirely new market
3. A company can learn a great deal by analyzing the degrees of brand loyalty.
For example, ________ can show the firm which brands are most competitive with
its own.
switchers
hard-core loyals
split loyals
shifting loyals
4. Marketers need to identify the hierarchy of attributes that guide consumer
decision making in order to understand different competitive forces and how
these various sets get formed. This process of identifying the hierarchy is
called ________.
market partitioning
brand association
market valuation
market estimation
5. ABC Technology is nearing completion on their product and market research
has discovered a competitor is also close to launching a similar product. ABC
has decided launch before their competition, this is called ________.
early entry
parallel entry
first entry
late entry
6. Which of the following is a strategy that uses the manufacturer’s sales
force, trade promotion money, or other means to induce intermediaries to carry,
promote, and sell the product to end users?
Pull strategy
Lock strategy
Strategic plan
Push strategy
7. A music school in Boyles Height, LA, specializes in teaching the guitar and
the violin. After a spurt in growth and a few successful years, the school is
experiencing a slowdown in sales and stability in its profits due to an
increase in competition. The school is in the ________ stage of its life cycle.
obsolescence
growth
Maturity
Decline
8. What type of strategy consists of geographical pricing, price discounts and
allowances, promotional pricing, and differentiated pricing?
Altered pricing
Price adaptation
Fixed pricing
Regular prices
9. 2 Wheels conducts exhaustive customer surveys to discover customer
preferences and attitudes towards the brand. Sally uses cluster analysis to
classify the data and help the company determine the trends in the information.
Sally is using the technique of ________.
data governance
data marketing
data accumulation
data mining
10. Which method identifies the effect sponsorship has on consumers brand
knowledge?
Demand-side method
Positioning method
Supply-side method
Pricing method
11. Through its cutting-edge point-of-sale inventory, management technology,
and highly efficient shipping practices, Wal-Mart is able to keep its inventory
expenditure extremely low and to pass these savings on to consumers in the form
of low prices. Wal-Mart’s strategy is best described as ________.
overall cost leadership
market development
differentiation
integrative growth
12. Prestige LLC, a small company that manufactures specialty cereals and
energy bars, wants to launch a “green marketing” program in response
to heightened consumer awareness about environmental issues. What should the
company do to maximize the program’s chances of being successful?
Demonstrate that the products will benefit both customers and the society in
the long-term.
Focus on the efforts and costs incurred by the company to bring these
“green” products to consumers.
Explain the rules and regulations laid out by governmental agencies to protect
the environment.
Emphasize benefits to the consumer rather than environmental benefits.
13. The marketing manager needs to know the cost of the research project before
approving it. During which stage of the marketing research process would such a
consideration most likely take place?
Step 5 – drafting the report
Step 4 – analyzing the information
Step 2 – developing the research plan
Step 1 – defining the problem
14. What is the perceived monetary value of the bundle of economic, functional,
and psychological benefits customers expect from a given market offering
because of the product, service, people, and image?
Total customer benefit
Complete marketing benefit
Ultimate service benefit
Total management benefit
15. The effect of exposures on audience awareness depends on the following three
factors:
distance, timing, and focus
space, communication, and advertisements
height, length, and width
reach, frequency, and impact
16. Which of the following can induce a firm to expand into the international
arena?
Cater to a domestic mass market
A saturated foreign market
High income level of domestic consumers
A saturated domestic market
17. What are the four characteristics of a marketing audit?
Comprehensive, systematic, independent, and periodic
Announced, semi-annually, dependent, and perpetual
Simple, unique, randomly, and exclusive
Dependent, non-comprehensive, quarterly, and unannounced
18. With ________ as a target market strategy, the firm concentrates on serving
many needs of a particular customer group.
single-segment concentration
market specialization
selective specialization
product specialization
19. Which component of a marketing audit includes major developments in income,
prices, savings, and credit that affect the company?
Technological
Political
Cultural
Economic
20. A firm must know where to position its product based on price and ________.
communication
promotional efforts
quality
Region
21. If the Ford GT is designed to accelerate to 50 miles per hour within 10
seconds, and every Ford GT coming off the assembly line does this, the model is
said to have high ________.
conformance quality
durability
compatibility
interoperability
22. What can enhance the value of Web-based shopping experiences to serve as
personal shopping assistants or Web-site guides?
E-mail
Tablets
Avatars
Smartphones
23. Marketers must see themselves as benefit providers. For example, when a
shopper purchases new shoes, he or she expects the shoes to cover his or her
feet and allow him or her to walk unobstructed. This is an example of what
level in the consumer-value hierarchy?
Basic product
Core benefit
Pure tangible product
Potential benefit
24. Which control should periodically reassess its approach to the marketplace
with a good marketing audit?
Ethical control
Performance control
Marketing control
Strategic control
25. BMW’s “The ultimate driving machine,” American Express’
“Don’t leave home without it,” New York Times’ “All the news
that’s fit to print,” and AT&T’s “Reach out and touch
someone” are all examples of ________.
brand vision
brand slogan
brand mission
brand personality
26. _______ is an approach that considers different ethnic and cultural
segments require targeted marketing campaigns and tactics.
Diversity marketing
Specialized marketing
Ethnic-based marketing
Multicultural marketing
27. The three guidelines for anticipating management reactions are (1) prior to
the crisis during normal day-to day operations, (2) at the moment some event
triggers the crisis, and (3) during the crisis situation that triggers the
event. These guidelines are the stages for ________.
problem-solving
decision making
provoking solutions
crisis management
28. What type of control focuses on measuring a company’s products territories,
customer groups, segments, trade channels, and order sizes to help expand or
eliminate any products or marketing activities?
Activity
Efficiency
Profitability
Solvency
29. The ability to meet humanity’s needs without harming future generations is
now a top priority in most corporate agenda________.
righteousness
sustainability
rules
ethics
30. A social definition of marketing says ______.
effective marketing requires companies to remove intermediaries to achieve a
closer connection with direct consumers
marketing is the process by which individuals and groups obtain what they need
and want through creating, offering, and freely exchanging products and
services of value with others
a company should focus exclusively on achieving high production efficiency, low
costs, and mass distribution to facilitate the broadest possible access to the
company’s products
marketing is the process of extracting maximum value from consumers to
facilitate corporate growth