MKT 571 Final Exam CLICK & DOWNLOAD SOLUTIONMkt 571 Final Exam Which of the following is most closely associated with a proactivemarketing orientation?A. It involves delivering superior value.B. It is about understanding and meeting customers’ expressed needs.C. It represents the “make and sell" philosophy.D. The marketer focuses on the customers’ latent or hidden needs.2) Marketing __________ is the art and science of choosing target markets and getting, keeping,and growing customers through creating, delivering, and communicating superior customervalue.A. internallyB. managementC. segmentationD. integration3) Business buyers ______________.A. are geographically as diverse as consumersB. tend to be geographically concentrated with over half of them in seven statesC. are largely concentrated in the southwestern United StatesD. use geographical dispersion to keep shipping costs low4) Toyota, the maker of the Scion brand, is using what kind of brand strategy with Scionproducts?A. Separate family namesB. Blanket family namesC. Individual namesD. Corporate names5) BMW, the maker of the Mini Cooper brand, is using what kind of brand strategy with its Miniproducts?A. Individual namesB. Blanket family namesC. Separate family namesD. Corporate names6) Brands can play a number of specific roles within a company’s brand portfolio. For example,a __________ is positioned with respect to competitors’ brands so that more important andprofitable brands retain their desired positioning.A. cash cowB. low-end, entry level brand
C. high-end, prestige brandD. flanker7) When Apple introduced its popular iPod Nano model, it dropped its Mini iPod at the sametime. The Mini was, at the time, the most popular MP3 player in the marketplace. This is anexample of __________.A. brand extensionB. preemptive cannibalizationC. a brand shake-outD. product maturity8) A ___________ is when a parent brand is used on a new product targeting a new marketsegment within a category currently served by the parent.A. joint-venture co-brandB. same company co-brandC. category extensionD. line extension9) ___________ are formal statements of expected product performance by the manufacturer.A. Open pricing statementsB. Promotional statementsC. WarrantiesD. General guarantees10) Mazda’s Miata convertible originally drew the most interest from women between the agesof 35 and 55. In order to interest more potential customers in the roadster, Mazda beefed up themodel with heavier shocks and a faster engine, and then emphasized performance in itsadvertising. This is an example of creating a new product by ____________.A. repositioningB. the development of a new product lineC. market diversification strategyD. product development strategy11) When SAP software added a Windows-style “back” button to its industrial invoicemanagement software, the new product ___________.A. used a new product lineB. added to an existing product lineC. improved upon an existing productD. used a marketing diversification strategy12) In 2003, Toyota introduced its Scion brand with the aim of bringing younger buyers into the“family.” This was a classic example of _________________.A. line featuringB. line cannibalizationC. line padding
D. line stretching13) Painting and consulting are considered industrial goods because ______________.A. they are specialty goodsB. they are considered “component materials"C. most firms do not seek them directlyD. they facilitate developing and managing the finished product14) Marketers 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. Basic-expected-augmented-core-potentialB. Expected-potential-basic-augmented-coreC. Core-basic-expected-augmented-potentialD. Potential-augmented-expected-core-basic15) Characteristics a buyer can evaluate before purchase are called _______________.A. search qualitiesB. experience qualitiesC. credence qualitiesD. differentiation qualities16) For $15 a day, Chlena will go to your home and feed, water, and play with your pet whileyou are on vacation. The service Chlena provides is an example of a _____________.A. tangible good with accompanying serviceB. hybridC. pure serviceD. major service with accompanying minor goods and services17) Mr. Tse and his family took a vacation to Washington, D.C. While there, they boughtsouvenirs; t-shirts and hats to take home to family and friends who didn’t have the opportunity togo. The experience of the Tse family is an example of which offering?A. A tangible good with accompanying servicesB. A hybridC. A pure serviceD. A major service with accompanying minor goods and services18) Best Buy will often try to sell the buyer of a high-end television monitor an extendedwarranty. This is an example of _______________.A. pure tangible goodB. tangible good with accompanying servicesC. hybridD. pure service19) The introduction of a new product to the market using market-penetration pricing is mostlikely to be successful when _____________.
A. the unit costs of producing a small volume of the product are highB. there must be no existing demand for the productC. the market is highly price sensitiveD. the high price communicates nothing to potential buyers20) A __________ pricing objective is suitable for a company that has overcapacity, intensecompetition, and changing customer needs.A. maximum current profitB. survivalC. maximum current revenueD. maximum sales growth21) Scotty is in the process of opening Suburban Legends SK8S to sell boards, wheels, trucks,clothing, videos, and skateboarding related collectibles. The first thing Scotty should do whensetting the store’s prices is to ____________.A. estimate costsB. determine the target marketC. select a pricing methodD. select a pricing objective22) A common mistake in pricing is ____________________.A. revising prices too oftenB. considering price and price competition as a key problem in marketingC. ignoring costs when setting pricesD. setting prices independently of the rest of the market mix23) When customers buy on the basis of a reference price or because the price conveys aparticular quality image to them, they are being influenced by ____________.A. value pricingB. the psychology of pricingC. the going rates of competitorsD. value augmented by perception24) Which of the following areas will a marketing manager standardize or adapt when taking anew product global?A. Marketing conceptB. Marketing mixC. Product strategyD. Promotion strategy25) Which of the following best describes integrated marketing communication (IMC)?A. Organizations present a consistent message.B. Organizations present an effective communication plan.C. Organizations present a plan that focuses on the customer.
D. Organizations present an effective advertising message.26) Which of the following best describes the role of social responsibility in marketing?A. Standards that guide marketing decisions and actionsB. Improving environment and productsC. Obligation to improve positive effects on societyD. Obligation to improve positive effects and reduce negative effects on society27) Public policy makers have developed a substantial body of laws and regulations to governadvertising. For these reasons, an important step in developing an advertising campaign is_____________.A. asking network censors what to cut out of the communicationB. the creative development of the messageC. the social responsibility reviewD. preparing a copy strategy statement28) Within the last couple years several cosmetics manufacturers have introduced non-clumpingmascara. Revlon was one of these manufacturers. Revlon should use ________ advertising toincrease selective demand for its non-clumping mascara.A. descriptiveB. persuasiveC. reminderD. informative29) Hospitals are engaged in intense competition to fill maternity beds. What type of advertisingwould hospitals most likely use to advertise their new amenities like hot tubs in every room, filetmignon or lobster on the menu, and afternoon teas for the new mothers and their families?A. descriptiveB. persuasiveC. reminderD. informative30) _____________ is the key ingredient in marketing campaigns and consists of a diversecollection of short-term incentive tools designed to influence trial, purchase, and interests ofconsumers and wholesalers.A. AdvertisingB. Public relations