The document provides information about marketing concepts such as the marketing plan, product life cycle, marketing channels, relationship marketing, market segmentation, SWOT analysis, and the marketing planning process. It tests the reader's understanding through multiple choice questions about these concepts.

1. Buy here:
http://student.land/products.php?product=MKT-421-Fina
l-Exam-%282017-version%29
A __________ is a road map for the marketing activities of an organization for a
specified future time period, such as one year or five years.
marketing dashboard
marketing plan
operation plan
mission statement
What is meant by “accelerating the process?”
Increase advertising costs during product launch

2. Speed up new product time to market
Identify major competitors early
Create a new market space
The product life cycle refers to __________.
a concept that describes the stages a new product goes through from product concept to
commercialization
the average life span of a product
a concept that describes the stages a product goes through in the marketplace—early
growth, accelerated development, maturity, and decline
a concept that describes the stages a product goes through in the
marketplace—introduction, growth, maturity, and decline

3. Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store.
He is the
ultimate consumer in a pipeline from the producer through intermediaries, including
the clothing store. This pipeline is actually a _______.
marketing channel
marketing tunnel
consumer market
distribution matrix
What is the marketing objective for the growth stage of the product life cycle?
maintain brand loyalty
minimize promotion

4. increase market share
stress differentiation
In the nonprofit world of the performing arts, box office technology has essentially
remained the same since the 1980s. A company called Tessitura is trying to change
that. Tessitura is able to track every transaction with its patrons in one database. The
information collected includes ticket purchases, fund-raising, volunteering, and gift
shop purchases that will help symphonies, operas, and theaters develop customer
profiles in order to tailor their sales messages to specific individuals. In other words,
Tessitura will allow arts groups to engage in:
mainstream marketing
societal marketing
relationship marketing
market aggregation
Marketing refers to:

5. the production of products or services that will generate the highest return on investment.
the activity for creating, communicating, delivering, and exchanging offerings that benefit its
customers, the organization, its stakeholders, and society at large.
the activity involved in getting a product or service from the manufacturer to ultimate
consumers and organizational buyers.
the process of identifying target market segments for a product or service.
Variables such as location, the North American Industry Classification System
(NAICS) code, and type of buy are all examples of ways to:
promote NAFTA.
segment an organizational market.
forecast sales to a consumer market.
differentiate products.

6. While pricing objectives frequently reflect corporate goals, pricing constraints often
relate to:
stockholder demands.
conditions existing in the marketplace. an organization’s code of ethics.
the financial realities within the organization itself.
In personal branding, the “price” component of the marketing mix refers to:
The number of hours you spend job searching
The annual cost of maintaining online profiles (such as LinkedIn)
The expense associated with job-hunting
The salary range and job benefits you hope to receive

7. At Mattel, Barbie is child-tested to be sure the doll cannot be broken apart and
accidentally choke a child. This type of consumer or safety test occurs during the
__________ stage of the new-product process.
new-product strategy development
market testing
development
screening and evaluation
Customer value refers to:
the cluster of benefits that an organization promises customers to satisfy their needs.
the need of a customer to receive the highest quality product at the lowest possible price.

8. a statement that, before product development begins, identifies (1) a well-defined target
market; (2) specific customers’ needs, wants, and preferences; and (3) what the product will
be and do to satisfy consumers.
the unique combination of benefits received by targeted buyers that includes quality,
convenience, on-time delivery, and both before-sale and after-sale service at a specific
price.
Developing a pool of concepts to serve as candidates for new products is the
__________ stage of the new-product process.
idea generation
product development
open innovation
new-product strategy development
The goal of a SWOT analysis is to:

9. identify market research questions in order to develop new products for new market
segments. determine how raises, bonuses, and dividends will be paid.
identify the critical strategy-related factors that can impact the firm. reorganize the firm’s
marketing department.
Marketing research refers to:
the science of using observable human behavior in order to identify and solve marketing
problems.
the process of defining a marketing problem and opportunity, systematically collecting and
analyzing information, and recommending actions.
the use of information technology to find objective solutions to a marketing problem.
the process of systematically collecting and analyzing information in order to define a
marketing problem.
There is no single “generic” marketing plan that can apply to all organizations or all
institutions. Rather, the specific format for a marketing plan for an organization

10. depends on the following: the industry, the kind and complexity of the organization,
and ________.