MKT 575 Final Exam

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MKT 575 Final Exam (Newest)

01. In the _____ step of the new-product development process, a
marketing manager evaluates how well the idea fits with the
company's objectives.

commercialization
development
screening
idea generation

02.When Chase Bank mails a 30-day offer for a new preapproved credit card with a $2,000 limit to a college
student, this is an example of__________.

mass selling
indirect-response promotion
direct-response promotion
integration

03. A firm with a marketing orientation is MOST likely

to__________.

view advertising as an unnecessary expense

recognize that effective advertising is the key to sales
not use any advertising
advertise how a product meets customers' needs

04.Which of the following observations concerning sales

analysis is NOT correct?
There is no one best way to break down sales data.
It is a detailed breakdown of a company's sales records.
Data can easily be obtained from basic billing and
accounts receivable procedures.
Product category is the best way to analyze sales data.
It is easy to do, and usually it's inexpensive.

05.Managers should make operational decisions___________.

on a month-to-month basis and never daily or weekly
within the guidelines set down during strategy planning
with great care as these decisions are the same as
strategic decisions
for the long-run to help formulate strategic plans
06.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__________.

discrepancies
discrepancies
discrepancies
discrepancies

of
of
of
of

assortment
quantity
need
time

07.A(n) _______ is a marketing mix that customers see as

better than a competitor's mix and cannot be quickly or
easily copied.

competitor analysis plan

sustainable competitive advantage
resource combination
competitor matrix

08.Studies have shown that customers who weren't

satisfied with response to their complaints__________.
on average told ten people about their experience
spoke about their experience only when prodded by
researchers
on average told one person about their experience
usually never spoke about it

09.Strategy decisions pertaining to product features,

packaging, product line assortment, and branding will be
most affected by which
target market dimension?

Geographic location
Behavioural needs and attitudes of consumers
Urgency to get need satisfied
Demographic characteristics of potential customers

10.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___________.

cumulative discounting
seasonal discounts
status quo objectives
dynamic pricing

11.All of the following are supply chain risks except:

supplier viability
stock market volatility
availability of raw materials
fluctuating transportation costs

12.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.

customer relationship management

qualifying dimensions
geographic targeting
clustering

13.New products that are minor variations on existing

products, and which require no change to consumer
behavior, are called __________.

second movers
continuous innovations
new products
discontinuous innovation

14.White water 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?

Selective buying
Modified rebuy buying
Straight rebuy buying
Intensive buying

15.When planning a marketing strategy, managers have

control over__________.
their response to forces in the external market
environment
the political and legal environment
consumers
the economic environment

16.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?

Improvement of earnings
Convenience
Dependability in use
Economy of purchase

17.In general, marketers that seek greater control over

their marketing mixes in the international environment
will__________.

invest more financial resources and take greater risks

set up traditional global channels
hire more marketing managers
use intensive distribution

18.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___________.

the situation analysis

the data interpretation stage
the problem solution stage
obtaining problem-specific data

19.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__________.

a "pushing" policy
direct marketing
a "pulling" policy
dual distribution

20.Brand recognition, brand preference, and brand

insistence are various levels of __________.

brand marks
branding
brand familiarity
brand equity

21. Firms develop _____ to promote fair and honest dealings

with all
Stake holders inside and outside of the organization.

intermediaries
codes of ethics
marketing departments
a marketing orientation
marketing plans

22.The process of market segmentation involves__________.

identifying broad product markets and segmenting
then into narrower target markets
identifying small target markets and expanding them
into broad product markets
selecting a marketing mix to reach everyone
identifying target groups with the fewest potential
customers

23.The main difference between a "marketing strategy"

and a "marketing plan" is that___________.

a marketing plan does not include a target market

a marketing strategy provides more detail
time-related details are included in a marketing plan
a marketing plan includes several marketing strategies

24.Which of the following is the most comprehensive goal

of marketing contingency planning?
understanding the changing internal and external
environments
preparing for any possible natural disasters
remaining relevant in the eyes of customers and
stakeholders
meeting competitive challenges

25.Which of the following advertising approaches delivers

ads to consumers based on the interactions they exhibit in
media such as Facebook, Pinterest, and Twitter?

Behavioral targeting
Click fraud
Digital targeting
Social targeting

26.A marketer will likely need to reposition a product

if__________.
marketers see the product as very similar to other
products in the market
marketers see the product as distinct from other
products in the market
customers see the product as distinct from other
products in the market
customers see the product as very similar to other
products in the market

27.Vision Co. manufactures and sells tea, coffee, desserts,

shoes, and sporting goods all under the Vision brand
name. These products are__________.

sold with a family brand

dealer brands
the firm's product line
generic products

28.Which of the following is a key trend affecting marketing

strategy planning?

Less international market development

Growth of marketing information systems
Slower new-product development
Senior and ethnic submarkets are getting smaller.

29.A marketing auditor for a firm will most likely__________.

develop marketing plans for the firm based on the
current plans being implemented
interview employees of the firm to determine the level
of job satisfaction
set company-wide objectives and targets in line with
the marketing plan
evaluate the marketing plans being implemented by
the firm to see if they are still the best plans the firm
can offer

30.Which of the following would be relevant in the

marketing
company era?
bringing all marketing activities together under the
control of one department
planning for five or more years ahead
focusing on production
reselling goods to consumers and intermediaries

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