MKT 431 Final Exam Answer the following questions by choosing the BEST answer. Place the letter corresponding to your choice in the space beside the question numbers on the Answer Sheet. The Answer Sheet is due by Monday at 11:59 MST . 1. The basic reason marketing research is done is because: a. Interesting data may be found b. The desire to provide basic knowledge c. The need for managers to make a decision d. Research is always needed 2. If a manager begins a research project by asking “ What would the data need to look like for me to make this decision?” they would be engaging in: a. Traditional marketing research b. Backward marketing research c. Knowledge based research d. Qualitative research. 3. What the text quotes as a “tidal wave of brand democratization” has led to the need for marketers to rethink how they communicate with markets to spread brand information. What has been the driving forces behind this revolution? a. The Internet b. Digital technologies c. Reality TV programming d. All of the above are contributing factors 4. When FedEx first came on the scene, it offered a whole new way for both businesses and later consumers to quickly and economically ship small packages. It, in essence, launched a new industry. Which of these best describes FedEx at that time? a. It followed a Blue Ocean strategy b. It followed a Red Ocean strategy c. It followed a Differentiation strategy d. It followed a Low-Cost strategy 5. At the intersection of Main Street and Palm Drive there are three service stations. When one lowers price the other two follow suit. If one advertises a low price on soft drinks so do the others. What kind of situation describes these three competitors? a. All follow a Blue Ocean strategy b. All follow a Red Ocean strategy c. All follow a Differentiation strategy d. All follow a Low-Cost strategy 6. Apple is known for introducing user friendly electronic devices to the market.  Their iPod, iPad and iPhones are all examples.  Although Apple did not invent any of those products, they provided designs and features that took those products to make Apple the market leader in each category.  Apple would be an example of a: a. Market Follower b. Market Challenger c. Market Driven company d. Market Driving company 7. All companies face competition in the marketplace even if only indirect.  Which of the following statements is true? a. Once a company becomes a market driver, they will always be a driver b. Once a company becomes market driven, they will always be market driven c. A company may shift between being driven and being a market drives d. All of the above are true 8. Crowd sourcing is an activity where a firm might turn to others – such as consumers – to suggest ideas.  Frito-Lay, for instance, has been conducting contests for budding film makers to submit commercials for Doritos.  One or two of these are selected for debut in the Super Bowl.  Which best des.

1. MKT 431 Final Exam
Answer the following questions by choosing the
BEST
answer.
Place the letter corresponding to your choice in the space beside
the question numbers on the Answer Sheet.
The Answer Sheet is due by Monday at 11:59 MST
.
1.
The basic reason marketing research is done is because:
a.
Interesting data may be found
b.
The desire to provide basic knowledge
c.
The need for managers to make a decision
d.
Research is always needed
2.
If a manager begins a research project by asking
“
What would the data need to look like for me to make this
decision?” they would be engaging in:
a.

2. Traditional marketing research
b.
Backward marketing research
c.
Knowledge based research
d.
Qualitative research.
3.
What the text quotes as
a “tidal wave of brand democratization” has led to the need for
marketers to rethink how they communicate with markets to
spread brand information.
What has been the driving forces behind this revolution?
a.
The Internet
b.
Digital technologies
c.
Reality TV programming
d.
All of the above are contributing factors
4.
When FedEx first came on the scene, it offered a whole new

3. way for both businesses and later consumers to quickly and
economically ship small packages.
It, in essence, launched a new industry.
Which of these best describes FedEx at that time?
a.
It followed a Blue Ocean strategy
b.
It followed a Red Ocean strategy
c.
It followed a Differentiation
strategy
d.
It followed a Low-Cost strategy
5.
At the intersection of Main Street and Palm Drive there are
three service stations.
When one lowers price the other two follow suit.
If one advertises a low price on soft drinks so do the others.
What kind of situation describes these three competitors?
a.
All follow a Blue Ocean strategy
b.

4. All follow a Red Ocean strategy
c.
All follow a Differentiation
strategy
d.
All follow a Low-Cost strategy
6.
Apple is known for introducing user friendly electronic devices
to the market. Their iPod, iPad and iPhones are all examples.
Although Apple did not invent any of those products, they
provided designs and features that took those products to make
Apple the market leader in each category. Apple would be an
example of a:
a.
Market Follower
b.
Market Challenger
c.
Market Driven company
d.
Market Driving company
7.
All companies face competition in the marketplace even if only

5. indirect. Which of the following statements is true?
a.
Once a company becomes a market driver, they will always be a
driver
b.
Once a company becomes market driven, they will always be
market driven
c.
A company may shift between being driven and being a market
drives
d.
All of the above are true
8.
Crowd sourcing is an activity where a firm might turn to others
– such as consumers – to suggest ideas. Frito-Lay, for instance,
has been conducting contests for budding film makers to submit
commercials for Doritos. One or two of these are selected for
debut in the Super Bowl. Which best describes Frito-Lay’s
approach to customers?
a.
Resist
b.
Enable
c.
Discourage
d.

6. Encourage
9.
More companies are using ethnography. In ethnographical
studies, a researcher observes behavior in its “natural
environment.” For example, a cookware company went to
people’s homes and observed them making dinner for their
families. Based on this feedback, the company designed a new
line of cookware that fit the needs of the consumer. Which
category would best describe the cookware company with regard
to consumers?
a.
Follower
b.
Shaper
c.
Interact
d.
Isolate
10.
Wal-Mart has built arguably the most efficient distribution
system in the retailing world. Through the employment of
various initiatives, such as Vendor Managed Inventory, RFID
and distribution center layouts with cross-docking. The low
cost (relative to other retailers) distribution system would best
be called a:
a.
Business model

7. b.
Core Competency
c.
A differentiation strategy
d.
A positioning strategy
11.
The chief marketing officer at Harley-Davidson Motorcycles
once said that Harley riders
are
the brand. In this case, Harley’s brand =:
a.
Identity
b.
Trustmark
c.
Experience
d.
Story
12.
Speaking of Harley-Davidson, rider groups (called HOGS)
actively recruit people to become members and encourage them
to ride Harleys. HOG members become, for Harley-Davidson:
a.

8. Brand knowledge experts
b.
Brand evangelists
c.
Brand identifiers
d.
Brand fantasizers
13.
Traditional bookstores are dwindling in number. Part of this is
due to the increased use of e-books where people may download
and read books from virtual companies such as Amazon
(Kindle) or Barnes & Noble (Nook). The disappearance of the
traditional bookstore is an example of:
a.
Disinternment
b.
Obsolescence
c.
Disinterest
d.
Disintermediation
14.
Technology has disrupted distribution channels through:
a.

9. The death of distance
b.
Homogenization of time
c.
Irrelevance of location
d.
All of the above
15.
A sales organization that moves quickly in recognizing
opportunity and acting on it would be a(n) __________ sales
force:
a.
Expeditionary
b.
Creative
c.
Strategic
d.
Collaborative
16.
Frances Greene is the sales manager of a medium sized
company. She is committed to the idea that the sales force is
more than a group of individuals who sell products to existing
and potential customers, She believes that the sales force is

10. instrumental is ensuring that the company achieve its objectives
and can help guide the company’s direction. Frances thinks of
the sales force as one that is ____________ in nature:
a.
Expeditionary
b.
Creative
c.
Strategic
d.
Collaborative
17.
The text authors suggest that sales people should see themselves
as:
a.
Salespeople
b.
Entrepreneurs
c.
Customer driven
d.
Technical experts
18.
Brand loyalty means not just buying the same product or
shopping at the same store, it also involves a __________

11. component:
a.
Perceptual
b.
Psychographical
c.
Motivational
d.
Attitudinal
19.
The total amount a customer will spend on a given product
category over a strategically meaningful time period is called:
a.
Customer Lifetime Value
b.
Customer Worthiness
c.
Customer Equity
d.
Customer Profitability Analysis
20.
Starbuck’s
initiatives include purchasing 100 percent of all coffee through
ethical sourcing practices (Fair Trade) and investing in a better

12. future for farmers and their communities by nearly doubling
funding to organizations that provide farmer loans
. This
mostly
reflects:
a.
Moral idealism
b.
Utilitarianism
c.
Social responsibility
d.
Business cul
MKT 431 Final Exam
Answer the following questions by choosing the
BEST
answer. Place the letter corresponding to your choice in the
space beside the question numbers on the Answer Sheet.
The Answer Sheet is due by Monday at 11:59 MST
.
1.
The basic reason marketing research is done is because:
a.
Interesting data may be found

13. b.
The desire to provide basic knowledge
c.
The need for managers to make a decision
d.
Research is always needed
2.
If a manager begins a research project by asking
“
What would the data need to look like for me to make this
decision?” they would be engaging in:
a.
Traditional marketing research
b.
Backward marketing research
c.
Knowledge based research
d.
Qualitative research.
3.
What the text quotes as
a “tidal wave of brand democratization” has led to the need for
marketers to rethink how they communicate with markets to
spread brand information. What has been the driving forces
behind this revolution?

14. a.
The Internet
b.
Digital technologies
c.
Reality TV programming
d.
All of the above are contributing factors
4.
When FedEx first came on the scene, it offered a whole new
way for both businesses and later consumers to quickly and
economically ship small packages. It, in essence, launched a
new industry. Which of these best describes FedEx at that
time?
a.
It followed a Blue Ocean strategy
b.
It followed a Red Ocean strategy
c.
It followed a Differentiation strategy
d.
It followed a Low-Cost strategy
5.
At the intersection of Main Street and Palm Drive there are

15. three service stations. When one lowers price the other two
follow suit. If one advertises a low price on soft drinks so do
the others. What kind of situation describes these three
competitors?
a.
All follow a Blue Ocean strategy
b.
All follow a Red Ocean strategy
c.
All follow a Differentiation strategy
d.
All follow a Low-Cost strategy
6.
Apple is known for introducing user friendly electronic devices
to the market. Their iPod, iPad and iPhones are all examples.
Although Apple did not invent any of those products, they
provided designs and features that took those products to make
Apple the market leader in each category. Apple would be an
example of a:
a.
Market Follower
b.
Market Challenger
c.
Market Driven company
d.

16. Market Driving company
7.
All companies face competition in the marketplace even if only
indirect. Which of the following statements is true?
a.
Once a company becomes a market driver, they will always be a
driver
b.
Once a company becomes market driven, they will always be
market driven
c.
A company may shift between being driven and being a market
drives
d.
All of the above are true
8.
Crowd sourcing is an activity where a firm might turn to others
– such as consumers – to suggest ideas. Frito-Lay, for instance,
has been conducting contests for budding film makers to submit
commercials for Doritos. One or two of these are selected for
debut in the Super Bowl. Which best describes Frito-Lay’s
approach to customers?
a.
Resist
b.

17. Enable
c.
Discourage
d.
Encourage
9.
More companies are using ethnography. In ethnographical
studies, a researcher observes behavior in its “natural
environment.” For example, a cookware company went to
people’s homes and observed them making dinner for their
families. Based on this feedback, the company designed a new
line of cookware that fit the needs of the consumer. Which
category would best describe the cookware company with regard
to consumers?
a.
Follower
b.
Shaper
c.
Interact
d.
Isolate
10.
Wal-Mart has built arguably the most efficient distribution
system in the retailing world. Through the employment of
various initiatives, such as Vendor Managed Inventory, RFID

18. and distribution center layouts with cross-docking. The low
cost (relative to other retailers) distribution system would best
be called a:
a.
Business model
b.
Core Competency
c.
A differentiation strategy
d.
A positioning strategy
11.
The chief marketing officer at Harley-Davidson Motorcycles
once said that Harley riders
are
the brand. In this case, Harley’s brand =:
a.
Identity
b.
Trustmark
c.
Experience
d.
Story
12.

19. Speaking of Harley-Davidson, rider groups (called HOGS)
actively recruit people to become members and encourage them
to ride Harleys. HOG members become, for Harley-Davidson:
a.
Brand knowledge experts
b.
Brand evangelists
c.
Brand identifiers
d.
Brand fantasizers
13.
Traditional bookstores are dwindling in number. Part of this is
due to the increased use of e-books where people may download
and read books from virtual companies such as Amazon
(Kindle) or Barnes & Noble (Nook). The disappearance of the
traditional bookstore is an example of:
a.
Disinternment
b.
Obsolescence
c.
Disinterest
d.
Disintermediation

20. 14.
Technology has disrupted distribution channels through:
a.
The death of distance
b.
Homogenization of time
c.
Irrelevance of location
d.
All of the above
15.
A sales organization that moves quickly in recognizing
opportunity and acting on it would be a(n) __________ sales
force:
a.
Expeditionary
b.
Creative
c.
Strategic
d.
Collaborative

21. 16.
Frances Greene is the sales manager of a medium sized
company. She is committed to the idea that the sales force is
more than a group of individuals who sell products to existing
and potential customers, She believes that the sales force is
instrumental is ensuring that the company achieve its objectives
and can help guide the company’s direction. Frances thinks of
the sales force as one that is ____________ in nature:
a.
Expeditionary
b.
Creative
c.
Strategic
d.
Collaborative
17.
The text authors suggest that sales people should see themselves
as:
a.
Salespeople
b.
Entrepreneurs
c.
Customer driven
d.

22. Technical experts
18.
Brand loyalty means not just buying the same product or
shopping at the same store, it also involves a __________
component:
a.
Perceptual
b.
Psychographical
c.
Motivational
d.
Attitudinal
19.
The total amount a customer will spend on a given product
category over a strategically meaningful time period is called:
a.
Customer Lifetime Value
b.
Customer Worthiness
c.
Customer Equity
d.
Customer Profitability Analysis

23. 20.
Starbuck’s
initiatives include purchasing 100 percent of all coffee through
ethical sourcing practices (Fair Trade) and investing in a better
future for farmers and their communities by nearly doubling
funding to organizations that provide farmer loans
. This
mostly
reflects:
a.
Moral idealism
b.
Utilitarianism
c.
Social responsibility
d.
Business culture