Mkt 421 final exam set 2
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  • 1. MKT 421 Final ExamSET 2PLEASE DOWNLOAD THE ANSWERS HERE1)According to the text, marketing means:A. Selling. B. Much more than selling and advertising. C. Producing and selling.D. Advertising.2) Predicting what types of bicycles different customers will want and decidingwhich of these customers the business will try to satisfy are activities a firmshould do as part of A. A command economy. B. Production. C. Marketing. D.Making goods or performing services.3) Which of the following statements best describes the modern view ofmarketing? A. Marketing should take over production, accounting, and financialservices within a firm. B. The job of marketing is to get rid of whatever thecompany is producing. C. Marketing is concerned with generating a singleexchange between a firm and a customer. D. Marketing begins with anticipatingpotential customer needs.4) Which of the following statements regarding marketing strategies is FALSE? A.These strategies must meet the needs of target customers, and a firm is likely toget a competitive advantage if it just meets needs in the same way as some otherfirm. B. It is useful to think of the marketing strategy planning process as anarrowing-down process. C. Developing successful marketing strategies does notneed to be a hit-or-miss proposition. D. These strategies require decisions aboutthe specific customers the firm will target and the marketing mix the firm willdevelop to appeal to that target market.5) To compete more successfully with its many competitors offering packagedcookies, Famous Amos added its own line of extra chunky premium cookies. Thisseems to be an effort at: A. Market penetration. B. Combination. C. Marketdevelopment. D. Product development.6) Professional Dental Supply has been successfully selling dental instruments todentists for the past 20 years, and has developed strong customer relations.When looking for new marketing opportunities, Professional Dental Supply willmost likely look first at A. Diversification. B. Market penetration. C. Marketdevelopment. D. Product development.7) Which of the following is true? A. The product P in the marketing mix stands forboth physical goods and tangible B. The product P in the marketing mix standsfor only tangible merchandise. C. The product P in the marketing mix stands for
  • 2. only physical goods. D. The product P in the marketing mix stands for bothphysical goods and services.8) The marketing mix A. Includes four variables-advertising, personal selling,customer service, and sales promotion. B. Helps to organize the marketingstrategy decision areas. C. Includes four variables-People, Place, Promotion, andPrice. D. Includes the target market9) The four Ps of a marketing mix are: A. Product, Place, Promotion, and Price B.Product, Price, Promotion, and Profit C. Production, Personnel, Price, andPhysical Distribution D. Promotion, Production, Price, and People10) Hewlett-Packard sells personal computers through specialty computer stores,electronics superstores, and its own Internet site. The marketing mix variable thatis being considered here is: A. Placement. B. Product. C. Pricing. D.Promotional.11) When one considers the strategy decisions organized by the four Ps,branding is related to packaging as: A. Personal selling is to mass selling. B.Store location is to sales force selection. C. Branding is to pricing. D. Productionis to marketing.12) Big Fizz Co., a manufacturer of cola-flavored drinks, wants to add packagedfruit juices to its existing product line. Big Fizz must make some decisionsregarding packaging and branding of the fruit juices. These decisions would fallunder which variable of the marketing mix? A. Price B. Promotion C. Product D.Place13) The main difference between a marketing strategy and a marketing plan isthat: A. A marketing strategy omits pricing plans. B. A marketing strategy providesmore detail. C. Time-related details are included in a marketing plan. D. Amarketing plan includes several marketing strategies.14) A marketing plan is: A. A target market and a related marketing mix. B. Amarketing strategy-plus the time-related details for carrying it out. C. A marketingprogram. D. A marketing strategy.15) Which of the following is part of a complete marketing plan? A. Competitorsmarketing strategies. B. What company resources (costs) are required and atwhat rate. C. How different marketing mixes (for different target markets) relate toeach other. D. All of these.16) Good marketing strategy planners know that: A. The terms mass marketingand mass marketer mean basically the same thing. B. Mass marketing is oftenvery desirable and effective. C. Firms like Nabisco and Wal-Mart are too large toaim at clearly defined target markets. D. Target marketing does not limit one tosmall market segments.
  • 3. 17) Marketing strategy planners should recognize that: A. Target marketing is notlimited to small market segments. B. Large firms like General Electric, Target, andProcter & Gamble are too large to aim at clearly defined markets. C. Targetmarkets should not be large and spread out. D. Mass marketing is often veryeffective and desirable.18) Target marketing, in contrast to mass marketing, A. Focuses on fairlyhomogeneous market segments. B. Ignores markets that are large and spreadout. C. Is limited to small market segments. D. Assumes that all customers arebasically the same.19) ______________ is the process of naming broad product-markets and thensegmenting these broad product-markets in order to select target markets anddevelop suitable marketing mixes. A. Diversification B. Mass marketing C. Marketpositioning D. Market segmentation20) The process of naming broad product-markets and then segmenting them inorder to select target markets and develop suitable marketing mixes is called: A.Market segmentation. B. Market penetration. C. Market development. D. Marketresearch.21) Clustering techniques applied to segmenting markets A. Usually requirecomputers to group people based on data from market research. B. Remove theneed for managerial judgment. C. Eliminate the need for marketing managers tospecify in advance what dimensions might be relevant for grouping consumers.D. All of the above are true.22) A ______________ is an organized way of continually gathering andanalyzing data to get information to help marketing managers make ongoingdecisions. A. Marketing model B. Marketing information system C. Marketingresearch project D. Marketing research department23) ________________ ________________ utilizes qualitative and quantitativeanalysis procedures to help marketing managers make more informed decisions.A. Marketing processing. B. Marketing planning. C. Marketing structure. D.Marketing research.24) Procedures that develop and analyze new information to help marketingmanagers make decisions are called: A. Operational planning. B. Strategyplanning. C. Analytical research. D. Marketing research.25) Focus groups: A. Yield results that are largely dependent on the viewpoint ofthe researcher. B. Are usually composed of 10 to 15 people as participants. C.Always do a good job of representing the broader target market. D. Are expensivecompared to other marketing research methods.
  • 4. 26) When focus group interviews are used in marketing, A. The typical group sizeis 15 to 20 typical consumers whether online or off-line. B. Each person in thegroup answers the same questionnaire, to focus the discussion. C. It is primarilyas a follow-up to more quantitative research. D. The research conclusions willvary depending on who watches the interview whether online or off-line.27) Marketing research which seeks structured responses that can besummarized is called: A. Quantitative research. B. Focus group research. C.Qualitative research. D. Situation analysis research.28) The marketing manager at Massimino& McCarthy, a chain of retail stores thatsells mens clothing, is reviewing marketing research data to try to determine ifchanges in marketing strategy are needed. Which of the following sources of datawould be a secondary data source? A. Reviewing videotapes of a recent focusgroup. B. Looking through the companys marketing information system to seepast sales trends. C. Making phone calls to some of the best customers to learntheir interest in a new line of clothing. D. Spending time in stores observingcustomers behavior.29) A small manufacturing firm has just experienced a rapid drop in sales. Themarketing manager thinks that he knows what the problem is and has beencarefully analyzing secondary data to check his thinking. His next step should beto: XXXXX XXXXX a formal research project to gather primary data. B. Conductan experiment. C. Conduct informal discussion with outsiders, includingintermediaries, to see if he has correctly defined the problem. D. Develop ahypothesis and predict the future behavior of sales.30) The attitudes and behavior patterns of people are part of the A. Social andcultural environment. B. Political environment. C. Competitive environment. D.Firms resources and objectives.31) Market segmentation: A. Is the same thing as positioning. B. Assumes thatmost submarkets can be satisfied by the same marketing mix. C. Tries to identifyhomogeneous submarkets within a product-market. D. Means the same thing asmarketing strategy planning.32) Which is the first step in market segmentation? A. Naming a broad product-market of interest to the firm. B. Clustering people with similar needs into amarket segment. C. Evaluating market segments to determine if they are largeenough. D. Finding one or two demographic characteristics to divide up the wholemass market.33) The first step in market segmentation should be: A. Finding a demographicgroup likely to use your products. B. Evaluating what segment(s) you currentlyserve. C. Defining some broad product-markets where you may be able tooperate profitably. D. Deciding what new product you could develop.
  • 5. 34) Which of the following is NOT one of the texts product life cycle stages? A.Market introduction B. Market penetration C. Market growth D. Market maturity35) The product life cycle: A. Applies more to individual brands than to categoriesor types of products. B. Has five major stages. C. Shows that sales and profitstend to move together over time. D. Describes the stages a new product ideagoes through from beginning to end.36) Tom and Sally Jones are preparing to purchase a new car. He currently has aToyota Camry and she has a Honda Accord. They now have two children underage 5, so they plan to trade in Sallys car to purchase a minivan. Sally and Tomdecided on a Honda Odyssey because Sally is familiar with Hondas and thinksthey are very reliable. In this purchase situation, Tom and Sallys family life cyclestage is a _____________ segmentation dimension, and the benefit Sally seeks(reliability) is a _____________ segmentation dimension. A. Geographic;behavioral. B. Demographic; behavioral. C. Demographic; geographic. D.Geographic; demographic.37) During the MARKET INTRODUCTION stage of the product life cycle: A. Muchmoney is spent on Promotion, while spending on Place is left until later. B. Priceand promotion are more important than Place and Product. C. Money is invested-in the hope of FUTURE profits. D. Large profits are typical-until competitionarrives.38) During the market introduction stage of the product life cycle: A. Mostpotential customers are quite anxious to try out the new-product concept. B.Products usually show large profits if marketers have successfully carved out newmarkets. C. Funds are being invested in marketing with the expectation of futureprofits. D. Considerable money is spent on promotion while place development isleft until later stages.39) Which of the following observations concerning the market maturity stage isNOT TRUE? A. New firms cannot enter the market at this stage. B. There is along-run downward pressure on prices. C. Promotion costs rise and somecompetitors cut prices to attract business. D. Many aggressive competitors haveentered the race for profits.40) Advertising allowances A. Allow for coordination and integration of admessages in the channel. B. Involve intermediaries and producers sharing in thecost of ads. C. Set the allowance amount as a percent of the retailers actualpurchases. D. Are price reductions to firms further along in the channel toencourage them to advertise or otherwise promote the firms products locally.41) Price reductions given to channel members to encourage them to advertise orotherwise promote a firms products locally are: A. Push money allowances. B.Brokerage allowances. C. Advertising allowances. D. Quantity discounts.
  • 6. 42) Noise (in the traditional communication process) refers to: XXXXX XXXXXdistractions that reduce the effectiveness of the communication process. B.Efforts by a firms competitors to block its message channel. C. Messages whichare too loud or bold. D. Radio advertising interference only.43) American Tourister, Inc.-a producer of luggage-is planning to introduce a newproduct line. The marketing manager is having her sales force call on retailers toexplain American Touristers consumer advertising plans, the unique features ofthe new luggage, how the distributors can best promote it, and what sales volumeand profit margins they can reasonably expect. This is an example of: A. A pullingpolicy. B. A pushing policy. C. Selective distribution. D. Intensive distribution.44) A producer using very aggressive promotion to get final consumers to askintermediaries for a new product has: A. A pulling policy B. A pushing policy. C. Aselective distribution policy. D. A target marketing policy.45) A producer using normal promotion efforts-personal selling, sales promotion,and advertising-to help sell a whole marketing mix to possible channel membershas: A. A selective distribution policy. B. A pushing policy. C. An intensivedistribution policy. D. A target marketing policy.46) Which of the following statements about positioning is NOT TRUE? A. It oftenmakes use of techniques such as perceptual mapping. B. It helps marketingmanagers know how customers view the firms offering. C. Positioning issues areespecially important when competitors in a market are very dissimilar. D. It refersto how customers think about proposed or present brands in a market.47) Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided NOT to offer each ofthe submarkets a different marketing mix. Instead, it selected two submarketswhose needs are fairly similar, and is counting on promotion and minor productdifferences to make its one basic marketing mix appeal to both submarkets. QCIis using the A. Combined target market approach. B. Mass marketing approach.C. Multiple target market approach. D. Single target market approach48) Positioning analysis A. Helps managers understand the actual characteristicsof their products. B. Shows that managers and customers usually view presentbrands similarly. C. Is a visual aid to understanding a product-market. D. Is not aproduct-oriented approach.49) When a company grows globally, this is an example of: A. Marketdevelopment B. Market penetration. C. Diversification. D. Product development.50) A _____ is a market with very similar needs and sellers offering various closesubstitute ways of satisfying those needs. A. Generic market B. Product-marketC. Target market D. Standard market
  • 7. 51) Which of the following is NOT a trend affecting marketing strategy planning inthe area of international marketing? A. Tensions between have and have-notcultures. B. Decreasing role of airfreight. C. Global communication over theInternet. D. More attention to exporting by small companies.52) Which of the following statements DOES NOT indicate that a marketingmanager is about to make a serious mistake? A. "When it comes to my marketingstrategy, if it aint broke, dont fix it." B. "I try to place myself in the position of theconsumer and do unto others as I would have them do unto me." C. "I leavemarketing applications of technology to the information technology staff. Theresno need for me to learn about them." D. "International competition is just a fad.We can ignore it."53) Which of the following is a key trend affecting marketing strategy planning? A.Senior and ethnic submarkets are getting smaller. B. Growth of marketinginformation systems. C. Less use of technology in personal selling. D. Slowernew-product development.54) It is usually the _________ job, perhaps with help from specialists intechnology, to decide what types of sales technology tools are needed and howthey will be used. A. Marketing executives B. Sales managers C. Purchasingmanagers D. Procurement managers55) Many Internet sites, such as Autobytel.com and Edmunds.com, haveextensive information about the prices of new and used vehicles that anyone canuse for free. In light of the availability of this information, what is the responsibilityof consumers to use it? A. Consumers can use it, but should not feel aresponsibility to do so. B. Consumers should not use it because it gives them anunfair advantage over car dealers. C. Consumers should not trust any informationthey receive from any source except the government. D. Consumers have aresponsibility to use the information and be smarter customers.56) Which of the following statements about ethical behavior in business is true?A. The legal environment sets the minimum standards of ethical behavior B. Thelegal environment sets the highest standards of ethical behavior. C. The legalenvironment sets the normative standards of ethical behavior. D. The legalenvironment sets the maximum standards of ethical behavior.57) The future poses many challenges for marketing managers because: A. It ismarketing managers who have full responsibility to preserve our macro-marketingsystem. B. New technologies are making it easier to abuse consumers rights toprivacy. C. Social responsibility applies only to firms-not to consumers. D.Themarketingconcepthasbecomeobsolete