MKT 571 Final Exam Answers

1) Which of the following is most closely associated with a proactive marketing orientation?
A. It involves delivering superior value.
B. It is about understanding and meeting customers e!pressed needs.
". It represents the #make and sell$ philosophy.
D. The marketer focuses on the customers latent or hidden needs.
%) &arketing '''''''''' is the art and science of choosing target markets and getting( keeping(
and growing customers through creating( delivering( and communicating superior customer value.
A. internally
. mana!ement
". segmentation
). integration
*) Business buyers ''''''''''''''.
A. are geographically as diverse as consumers
. tend to "e !eo!ra#hicall$ concentrated with o%er half of them in se%en states
". are largely concentrated in the southwestern +nited ,tates
). use geographical dispersion to keep shipping costs low
-) .oyota( the maker of the ,cion brand( is using what kind of brand strategy with ,cion products?
A. &e#arate famil$ names
B. Blanket family names
". Individual names
). "orporate names
/) B&W( the maker of the &ini "ooper brand( is using what kind of brand strategy with its &ini
products?
A. Individual names
B. Blanket family names
'. &e#arate famil$ names
). "orporate names
0) Brands can play a number of specific roles within a companys brand portfolio. 1or e!ample( a
'''''''''' is positioned with respect to competitors brands so that more important and profitable
brands retain their desired positioning.
A. cash cow
B. low2end( entry level brand
". high2end( prestige brand
D. flanker
3) When Apple introduced its popular i4od 5ano model( it dropped its &ini i4od at the same time.
.he &ini was( at the time( the most popular &4* player in the marketplace. .his is an e!ample of
''''''''''. &6. /31 1inal 7!am
A. brand e!tension
. #reem#ti%e canni"ali(ation
". a brand shake2out
). product maturity
8) A ''''''''''' is when a parent brand is used on a new product targeting a new market segment
within a category currently served by the parent.
A. 9oint2venture co2brand
B. same company co2brand
". category e!tension
D. line extension
:) ''''''''''' are formal statements of e!pected product performance by the manufacturer.
A. ;pen pricing statements
B. 4romotional statements
'. )arranties
). <eneral guarantees
1=) &a>das &iata convertible originally drew the most interest from women between the ages of */
and //. In order to interest more potential customers in the roadster( &a>da beefed up the model
with heavier shocks and a faster engine( and then emphasi>ed performance in its advertising. .his is
an e!ample of creating a new product by ''''''''''''.
A. re#ositionin!
B. the development of a new product line
". market diversification strategy
). product development strategy
11) When ,A4 software added a Windows2style #back? button to its industrial invoice management
software( the new product '''''''''''.
A. used a new product line
B. added to an e!isting product line
'. im#ro%ed u#on an existin! #roduct
). used a marketing diversification strategy
1%) In %==*( .oyota introduced its ,cion brand with the aim of bringing younger buyers into the
#family.? .his was a classic e!ample of '''''''''''''''''.
A. line featuring
B. line cannibali>ation
". line padding
D. line stretchin!
1*) 4ainting and consulting are considered industrial goods because ''''''''''''''.
A. the$ are s#ecialt$ !oods
B. they are considered #component materials$
". most firms do not seek them directly
). they facilitate developing and managing the finished product
1-) &arketers plan their market offerings at five levels. What is the correct order of the levels( going
from most fundamental to the level with the most benefits?
A. Basic2e!pected2augmented2core2potential
B. 7!pected2potential2basic2augmented2core
'. 'ore*"asic*ex#ected*au!mented*#otential
). 4otential2augmented2e!pected2core2basic
1/) "haracteristics a buyer can evaluate before purchase are called '''''''''''''''.
A. search +ualities
B. e!perience @ualities
". credence @ualities
). differentiation @ualities
10) 1or A1/ a day( "hlena will go to your home and feed( water( and play with your pet while you are
on vacation. .he service "hlena provides is an e!ample of a '''''''''''''.
A. tangible good with accompanying service
B. hybrid
'. #ure ser%ice
). ma9or service with accompanying minor goods and services
13) &r. .se and his family took a vacation to Washington( ).". While there( they bought souvenirsB t2
shirts and hats to take home to family and friends who didnt have the opportunity to go. .he
e!perience of the .se family is an e!ample of which offering?
A. A tangible good with accompanying services
B. A hybrid
". A pure service
D. A ma,or ser%ice with accom#an$in! minor !oods and ser%ices
18) Best Buy will often try to sell the buyer of a high2end television monitor an e!tended warranty.
.his is an e!ample of '''''''''''''''.
A. pure tangible good
. tan!i"le !ood with accom#an$in! ser%ices
". hybrid
). pure service
1:) .he introduction of a new product to the market using market2penetration pricing is most likely to
be successful when '''''''''''''.
A. the unit costs of producing a small volume of the product are high
B. there must be no e!isting demand for the product
'. the market is hi!hl$ #rice sensiti%e
). the high price communicates nothing to potential buyers
%=) A '''''''''' pricing ob9ective is suitable for a company that has overcapacity( intense
competition( and changing customer needs.
A. ma!imum current profit
. sur%i%al
". ma!imum current revenue
). ma!imum sales growth
%1) ,cotty is in the process of opening ,uburban Cegends ,68, to sell boards( wheels( trucks(
clothing( videos( and skateboarding related collectibles. .he first thing ,cotty should do when setting
the stores prices is to ''''''''''''.
A. estimate costs
B. determine the target market
". select a pricing method
D. select a #ricin! o",ecti%e
%%) A common mistake in pricing is ''''''''''''''''''''.
A. revising prices too often
B. considering price and price competition as a key problem in marketing
". ignoring costs when setting prices
D. settin! #rices inde#endentl$ of the rest of the market mix
%*) When customers buy on the basis of a reference price or because the price conveys a particular
@uality image to them( they are being influenced by ''''''''''''.
A. value pricing
. the #s$cholo!$ of #ricin!
". the going rates of competitors
). value augmented by perception
%-) Which of the following areas will a marketing manager standardi>e or adapt when taking a new
product global?
A. &arketing concept
. Marketin! mix
". 4roduct strategy
). 4romotion strategy
%/) Which of the following best describes integrated marketing communication DI&")?
A. ;rgani>ations present a consistent message.
B. ;rgani>ations present an effective communication plan.
'. -r!ani(ations #resent a #lan that focuses on the customer.
). ;rgani>ations present an effective advertising message.
%0) Which of the following best describes the role of social responsibility in marketing?
A. ,tandards that guide marketing decisions and actions
B. Improving environment and products
". ;bligation to improve positive effects on society
D. -"li!ation to im#ro%e #ositi%e effects and reduce ne!ati%e effects on societ$
%3) 4ublic policy makers have developed a substantial body of laws and regulations to govern
advertising. 1or these reasons( an important step in developing an advertising campaign is
'''''''''''''.
A. askin! network censors what to cut out of the communication
B. the creative development of the message
". the social responsibility review
). preparing a copy strategy statement
%8) Within the last couple years several cosmetics manufacturers have introduced non2clumping
mascara. Eevlon was one of these manufacturers. Eevlon should use '''''''' advertising to
increase selective demand for its non2clumping mascara.
A. descriptive
. #ersuasi%e
". reminder
). informative
%:) Fospitals are engaged in intense competition to fill maternity beds. What type of advertising
would hospitals most likely use to advertise their new amenities like hot tubs in every room( filet
mignon or lobster on the menu( and afternoon teas for the new mothers and their families?
A. descriptive
B. persuasive
". reminder
D. informati%e
*=) ''''''''''''' is the key ingredient in marketing campaigns and consists of a diverse
collection of short2term incentive tools designed to influence trial( purchase( and interests of
consumers and wholesalers.
A. Advertising
B. 4ublic relations
'. &ales #romotion
). 4ersonal selling