Mkt 421 guide 6 7) Product is NOT concerned with: A. Packaging. B. Quality level. C. Branding. D. Wholesale price. Document Transcript
MKT 421 Guide 6 Click Here To Buy The Tutorial1) 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 ofA. A command economy.B. Production.C. Marketing.D. Making goods or performing services.2) For Tesla, a new firm that makes an electric sports car, estimating how manycompetitors will make electric vehicles and what kinds they will make, is:A. A part of marketing.B. One of the universal functions of innovation.C. A production activity.D. An example of the micro-macro dilemma.3) According to the text, marketing means:A. Advertising.
B. Much more than selling and advertising.C. Selling.D. Producing and selling.4) Which of the following statements regarding marketing strategies is FALSE?A. These strategies require decisions about the specific customers the firm willtarget and the marketing mix the firm will develop to appeal to that targetmarket.B. It is useful to think of the marketing strategy planning process as a narrowing-down process.C. These strategies must meet the needs of target customers, and a firm is likelyto get a competitive advantage if it just meets needs in the same way as someother firm.D. Developing successful marketing strategies does not need to be a hit-or-missproposition.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. Product development.B. Combination.C. Market penetration.D. Market 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 atA. Product development.B. Market penetration.C. Diversification.D. Market development.7) Product is NOT concerned with:A. Packaging.B. Quality level.C. Branding.D. Wholesale price.8) The marketing mixA. Includes four variables—advertising, personal selling, customer service, andsales promotion.B. Includes four variables—People, Place, Promotion, and Price.C. Includes the target marketD. Helps to organize the marketing strategy decision areas.9) The four Ps of a marketing mix are:
A. Product, Place, Promotion, and PriceB. Production, Personnel, Price, and Physical DistributionC. Promotion, Production, Price, and PeopleD. Product, Price, Promotion, and Profit10) Dell, Inc. wants to offer customers televisions in addition to computers. This isa change in their _____________________A. promotional.B. pricing.C. product.D. personnel.11) A firms decisions regarding channel type, market exposure, and kinds ofintermediaries would fall under the marketing mix variable ofA. Place.B. Product.C. Price.D. Promotion.12) When one considers the strategy decisions organized by the four Ps, brandingis related to packaging as:A. Production is to marketing.B. Branding is to pricing.
C. Personal selling is to mass selling.D. Store location is to sales force selection.13) Which of the following would probably NOT be in a proposed marketing plan?A. A statement of how frequently the design of the website will be changed.B. A list of what company resources (costs) would be required.C. A description of the target market and marketing mix.D. Expected sales and profit results.14) The main difference between a marketing strategy and a marketing plan isthat:A. A marketing plan includes several marketing strategies.B. Time-related details are included in a marketing plan.C. A marketing strategy omits pricing plans.D. A marketing strategy provides more detail.15) Which of the following is part of a complete marketing plan?A. Competitors marketing strategies.B. What company resources (costs) are required and at what rate.C. How different marketing mixes (for different target markets) relate to eachother.D. All of these.
16) Marketing strategy planners should recognize that:A. Mass marketing is often very effective and desirable.B. Target markets should not be large and spread out.C. Target marketing is not limited to small market segments.D. Large firms like General Electric, Target, and Procter & Gamble are too large toaim at clearly defined markets.17) Good marketing strategy planners know that:A. Target marketing does not limit one to small market segments.B. Firms like Nabisco and WalMart are too large to aim at clearly defined targetmarkets.C. The terms mass marketing and mass marketer mean basically19) Clustering techniques applied to segmenting marketsA. Usually require computers to group people based on data from marketresearch.B. Remove the need for managerial judgment.C. Eliminate the need for marketing managers to specify in advance whatdimensions might be relevant for grouping consumers.D. All of the above are true.
20) ______________ 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. Market segmentationB. Market positioningC. DiversificationD. Mass marketing21) 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 development.B. Market penetration.C. Market segmentation.D. Market research.22) ________________ ________________ utilizes qualitative and quantitativeanalysis procedures to help marketing managers make more informed decisions.A. Marketing structure.B. Marketing planning.C. Marketing processing.D. Marketing research.
23) Procedures that develop and analyze new information to help marketingmanagers make decisions are called:A. Analytical research.B. Strategy planning.C. Operational planning.D. Marketing research.24) A ______________ is an organized way of continually gathering and analyzingdata to get information to help marketing managers make ongoing decisions.A. Marketing research projectB. Marketing information systemC. Marketing modelD. Marketing research department25) The part of the relevant population that is surveyed by a researcher is calledthe:A. Target population.B. Representative group.C. Focal group.D. Sample.26) Focus groups:A. Always do a good job of representing the broader target market.
B. Are usually composed of 10 to 15 people as participants.C. Yield results that are largely dependent on the viewpoint of the researcher.D. Are expensive compared to other marketing research methods.27) One of the major disadvantages of the focus group interview approach is thatA. It is difficult to get in-depth information about the research topic.B. Ideas generated by the group cannot be tested later with other research.C. It is difficult to measure the results objectively.D. There is no interviewer, so the research questions may not be answered.28) 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:A. Conduct informal discussion with outsiders, including intermediaries, to see ifhe has correctly defined the problem.B. Conduct an experiment.C. Develop a formal research project to gather primary data.D. Develop a hypothesis and predict the future behavior of sales.29) Which of the following statements about consumer products is true?A. Specialty products are those that customers usually are least willing to searchfor.
B. Convenience products are those that customers want to buy at the lowestpossible price.C. Shopping products are those products for which customers usually want to useroutinized buying behavior.D. Unsought products are not shopped for at all.30) The attitudes and behavior patterns of people are part of theA. Political environment.B. Social and cultural environment.C. Firms resources and objectives.D. Competitive environment.31) The first step in market segmentation should be:A. Deciding what new product you could develop.B. Evaluating what segment(s) you currently serve.C. Defining some broad product-markets where you may be able to operateprofitably.D. Finding a demographic group likely to use your products.32) Which is the first step in market segmentation?A. Finding one or two demographic characteristics to divide up the whole massmarket.B. Clustering people with similar needs into a market segment.
C. Evaluating market segments to determine if they are large enough.D. Naming a broad product-market of interest to the firm.33) ______________ 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. Market segmentationB. Strategic planningC. Market positioningD. Mass marketing34) The product life cycle:A. Describes the stages a new product idea goes through from beginning to end.B. Has five major stages.C. Shows that sales and profits tend to move together over time.D. Applies more to individual brands than to categories or types of products.35) Which of the following is a DEMOGRAPHIC segmenting dimension?A. Rate of use.B. Brand familiarity.C. Family life cycle.D. Type of problem solving.
36) Which of the following is NOT one of the texts product life cycle stages?A. Market maturityB. Market penetrationC. Market growthD. Market introduction37) During the MARKET INTRODUCTION stage of the product life cycle:A. Large profits are typical—until competition arrives.B. Price and promotion are more important than Place and Product.C. Money is invested—in the hope of FUTURE profits.D. Much money is spent on Promotion, while spending on Place is left until later.38) During the market introduction stage of the product life cycle:A. Considerable money is spent on promotion while place development is leftuntil later stages.B. Products usually show large profits if marketers have successfully carved outnew markets.C. Funds are being invested in marketing with the expectation of future profits.D. Most potential customers are quite anxious to try out the new-productconcept.
39) An industrys sales have leveled off and profits are declining in oligopolisticcompetition. Consumers see competing products as homogeneous. Several firmshave dropped out of the industry, but a new one entered recently. Firms in theindustry are trying to avoid price-cutting by spending on persuasive advertising.These firms are competing in which stage of the product life cycle?A. Market growthB. Market maturityC. Market introductionD. Market development40) Typically the _____ is responsible for building good distribution channels andimplementing place policies.A. Advertising managerB. Human resources managerC. Public relations managerD. Sales manager41) SGCA is having a sales contest to encourage retailers to quickly reduce theinventory of SuperGamer computers. Retailers with the highest sales during thenext month win an expense paid trip to a special dealer meeting at a resort inHawaii. This isA. The type of promotion that continues to impact sales even after the promotionis over.B. An example of a producer using sales promotion in the channel.C. Probably illegal because it might encourage price competition among retailers.
D. An example of cooperative advertising.42) While watching a television program, Liza gets a phone call just as acommercial is starting. She presses the mute button on the televisions remotecontrol and takes the call, so she pays no attention to the commercial. In terms ofthe communication process, the telephone call is an example of:A. Decoding.B. Feedback.C. Encoding.D. Noise.43) The Canyonlands Corporation is introducing a new product next month. Toprepare for the introduction, the marketing manager is having his sales force callon distributors to explain the unique features of the new product, how thedistributors can best promote it, and what sales volume and profit margins theycan reasonably expect. In addition, Canyonlands is budgeting 2% of its estimatedsales for magazine advertising. This is an example of:A. Exclusive distribution.B. A pushing policy.C. Selective distribution.D. A pulling policy.44) Integrated direct-response promotion:A. Is not necessary or useful when the channel of distribution involvesintermediaries.
B. Is usually part of a pushing effort rather than part of a pulling approach.C. Focuses on achieving a measurable, direct response from specific targetcustomers.D. None of these are true.45) American Tourister, Inc.—a producer of luggage—is planning to introduce anew product line. The marketing manager is having her sales force call on retailersto explain American Touristers consumer advertising plans, the unique featuresof the new luggage, how the distributors can best promote it, and what salesvolume and profit margins they can reasonably expect. This is an example of:A. Selective distribution.B. A pushing policy.C. A pulling policy.D. Intensive distribution.46) Positioning analysisA. Is a visual aid to understanding a product-market.B. Shows that managers and customers usually view present brands similarly.C. Helps managers understand the actual characteristics of their products.D. Is not a product-oriented approach.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 of thesubmarkets a different marketing mix. Instead, it selected two submarkets whose
needs are fairly similar, and is counting on promotion and minor productdifferences to make its one basic marketing mix appeal to both submarkets. QCI isusing theA. Multiple target market approach.B. Mass marketing approach.C. Combined target market approach.D. Single target market approach48) Which of the following statements about positioning is NOT TRUE?A. Positioning issues are especially important when competitors in a market arevery dissimilar.B. It helps marketing managers know how customers view the firms offering.C. It often makes use of techniques such as perceptual mapping.D. It refers to how customers think about proposed or present brands in a market.49) A _____ is a market with very similar needs and sellers offering various closesubstitute ways of satisfying those needs.A. Target marketB. Product-marketC. Generic marketD. Standard market
50) Which of the following is NOT a trend affecting marketing strategy planning inthe area of international marketing?A. Tensions between have and have-not cultures.B. Decreasing role of airfreight.C. Global communication over the Internet.D. More attention to exporting by small companies.51) When a company grows globally, this is an example of:A. Market developmentB. Market penetration.C. Diversification.D. Product development.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 marketing strategy, if it aint broke, dont fix it."B. "I try to place myself in the position of the consumer and do unto others as Iwould have them do unto me."C. "I leave marketing applications of technology to the information technologystaff. Theres no need for me to learn about them."D. "International competition is just a fad. We can ignore it."
53) 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. Sales managersB. Purchasing managersC. Marketing executivesD. Procurement managers54) Which of the following is a key trend affecting marketing strategy planning?A. Senior and ethnic submarkets are getting smaller.B. Growth of marketing information systems.C. Less use of technology in personal selling.D. Slower new-product development.55) Which of the following statements about ethical behavior in business is true?A. The legal environment sets the highest standards of ethical behavior.B. The legal environment sets the normative standards of ethical behavior.C. The legal environment sets the minimum standards of ethical behaviorD. The legal environment sets the maximum standards of ethical behavior.56) Many Internet sites, such as Autobytel.com and Edmunds.com, have extensiveinformation about the prices of new and used vehicles that anyone can use for
free. In light of the availability of this information, what is the responsibility ofconsumers to use it?A. Consumers should not use it because it gives them an unfair advantage overcar dealers.B. Consumers should not trust any information they receive from any sourceexcept the government.C. Consumers can use it, but should not feel a responsibility to do so.D. Consumers have a responsibility to use the information and be smartercustomers.57) The future poses many challenges for marketing managers because:A. New technologies are making it easier to abuse consumers rights to privacy.B. Social responsibility applies only to firms—not to consumers.C. It is marketing managers who have full responsibility to preserve our macro-marketing system.D. The marketing concept has become obsolete.