Mkt 571 final exam 1

1. DOWNLOAD
1) Small companiescanengage is marketing research ina number of creative andinexpensive ways, including
_______________.
A.
Using its owninternal marketingresearchdepartment
B.
Buying information fromdatabase companies like A.C. Nielsen
C.
Settingup their ownwebsite
D.
Using anonline information service such as the internet
2) A marketing information system (MIS)consists of___________.
A.
An organizedcollectionof comprehensive data about individual customers, prospects, or suspects that is currentlyaccessible
for marketing purposes.
B.
The systematic design, collection, analysis, andreporting ofdata andfindings relevant to a specific marketingsituation.
C.
A set of procedures andsources usedbymanagers to obtain everydayinformationand relevant developments in the marketing
environment.
D.
The people, equipment, andprocedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate
informationto marketingdecisionmakers.
3) When Molly’s parents retired, theydecided theywanted to travel. Theyfound anideal job that allows them to travel for
free, but the onlycatch is theyhave to stayat HolidayInns. During eachstay, theytest all the amenitiesofferedbythe motel
and evaluate each. The evaluationforms are sent to the motel headquarters where it becomes part of the motel’s __________
systems.
A.
Accountabilityinformation system (AIS)
B.
Experiential research data
C.

2. Marketingresearch
D.
Marketingintelligence
4) All of the followingare steps inthe marketing research process EXCEPT:
A.
Compare data to government sources
B.
Collect the information
C.
Define the problemandresearchobjectives
D.
Present the findings
5) The stepinthe marketingresearchprocessthat includes determining who will be sampledis to _______________.
A.
Collect the information
B.
Developthe research plan
C.
Define the problemandresearchobjectives
D.
Make the decisionbasedonthe project outcomes
6) The secondstep inthe marketing research process is ______________.
A.
Decisionregarding the research toolsand target group
B.
Define the problemandresearchobjectives
C.
Development of the research plan
D.

3. Collection ofthe available sources for informationneeded
7) Marketing information systems are developedfrom internalcompanyrecords, marketing intelligence, and marketing
research.
A.
True
B.
False
8) The last stepinmarketingresearchis developing the research plan.
A.
True
B.
False
9) Typically, companies budget about 11-12 percent of companysales for marketingresearch.
A.
True
B.
Fasle
10) Lowe’s home improvement stores strive to have nicer, more knowledgeable salespeople, a better product selection, andto
maintainanimpeccable image. These are all part of improving the offer via _____________.
A.
Increasing the service value
B.
Reducing the product’s monetarycosts to the buyers.
C.
Reducing the buyer’s nonmonetarycosts
D.
Increasing totalcustomer value
11) ______________ is the difference betweena prospective customer’s evaluation ofallthe benefits andcosts ofanoffering
and the perceivedalternatives.

4. A.
Customer deliveredvalue
B.
Customer perceivedvalue
C.
Total customer cost
D.
Customer relationshipmanagement
12) Which ofthe followingis NOT a component part of totalcustomer value?
A.
Psychic value
B.
Services value
C.
Product value
D.
Image value
13) A(n) ________________ is likelyto offer informal advice andinformationabout a product or product category.
A.
Opinion leader
B.
Aspirational reference group
C.
Primaryreference group
D.
Diversitymarketing program
14) Each of the following is consideredconsumer behavior EXCEPT:
A.
Acceptance ofa political idea

5. B.
Use of public transit
C.
Selection ofa product
D.
Productionof a concert
15) Withinthe UnitedStates, Southerners, Mormons, andNative Americans are examples of:
A.
Cultures
B.
Psychologicallydefinedgroups
C.
Social classes
D.
Subcultures
16) Businessbuying behavior differs fromconsumer buying behavior inthat _________.
A.
The demandfor businessgoods and services is derivedfromconsumer’s final demand.
B.
[Answer Text]Businessesbuyproducts to accomplish a single goal, which variesbyindustryand business.
C.
The buyers for the business market are typicallymore geographically dispersed than those for the consumer market and the
demandfor products andservices inthe consumer market is unaffectedbyprice fluctuations.
D.
Fewer people typicallyparticipate inor influence business buying decisions than inthe consumer market.
17) The institutional market is best describedas having _____________.
A.
Deriveddemand, geographicallyconcentratedsuppliers, andbudgetaryconstraints.
B.
Contract negotiations and fluctuating demand

6. C.
Low budgets anda captive clientele
D.
Demandelasticityandgeographicallyconcentrated suppliers
18) Businessbuyers ______________.
A.
Use geographical dispersion to keepshipping costs low
B.
Are largelyconcentratedinthe southwesternUnitedStates
C.
Are geographicallyas diverse as consumers
D.
Tend to be geographicallyconcentratedwithover half of theminsevenstates
19) Which ofthe followingis NOT anadvantage of co-branding?
A.
Provides more opportunities withnew customers
B.
Generatesadditional sales fromthe existingtarget market
C.
Might contribute to overexposure ofthe brand
D.
Helps positionnew products
20) When Apple introducedits popular iPodNano model, it dropped its Mini iPodat the same time. The Mini was, at the time,
the most popular mp3 player inthe marketplace. This is an example of __________.
A.
Product maturity
B.
A brand shake-out
C.
CEO Steve Job’s large ego

7. D.
Preemptive cannibalization
21) A ___________ is whena parent brandis usedon a new product targetinga newmarket segment withina category
currentlyserved bythe parent.
A.
Line extension
B.
Categoryextension
C.
Joint-venture co-brand
D.
Same companyco-brand
22) Paintingandconsultingare considered industrial goods because ______________.
A.
Theyfacilitate developingandmanaging the finishedproduct
B.
Most firms donot seekthem directly
C.
Theyare specialtygoods
D.
Theyare considered“component materials"
23) In 2003, Toyota introduced its Scion brandwiththe aimof bringing younger buyers intothe “family.” Thiswas a classic
example of_________________.
A.
Line stretching
B.
Line padding
C.
Line featuring
D.

8. Line cannibalization
24) Marketers plantheir market offerings at five levels. What is the correct order ofthe levels, going from most fundamentalto
the level withthe most benefits?
A.
Potential-augmented-expected-core-basic
B.
Core-basic-expected-augmented-potential
C.
Basic-expected-augmented-core-potential
D.
Expected-potential-basic-augmented-core
25) Which ofthe followingis the best example of pure service?
A.
A car repair shop
B.
A lawnmowing service
C.
A weight loss clinic that provides the consumer with its own brandof food
D.
A movie theater
26) For $15 a day, Chlena will go to your home and feed, water, and playwithyour pet while you are on vacation. The service
Chlena provides is anexample of a _____________.
A.
Hybrid
B.
Tangible good withaccompanying service
C.
Pure service
D.
Major service with accompanying minor goods and services

9. 27) Which ofthe followingbest describes the categoryin whichthe offering’s service mix is distinguished? “People patronize
restaurants for bothfoodandservice.”
A.
Tangible good withaccompanying services
B.
Pure tangible good
C.
Hybrid
D.
Pure service
28) When customers buyon the basisof a reference price or because the price conveys a particular qualityimage to them, they
are being influenced by____________.
A.
The psychologyof pricing
B.
Value pricing
C.
The going rates of competitors
D.
Value augmentedbyperception
29) The introductionof a new product to the market using market-penetration pricingis most likelyto be successful when
_____________.
A.
There must be noexisting demandfor the product
B.
The unit costs ofproducinga small volume of the product are high
C.
The market is highlyprice sensitive
D.
The highprice communicates nothingto potentialbuyers

10. 30) A common mistake inpricing is ____________________.
A.
Considering price and price competitionas a keyprobleminmarketing
B.
Revising prices toooften
C.
Ignoringcosts when setting prices
D.
Settingprices independentlyof the rest ofthe market mix
31) When Cyler goes to dohis groceryshoppingfor the weekhe alsolikes to drop off hisfinishedrollsof film and visit th e bank
at the same time. He would alsolike the idea of having a package mailingservice to use while he is shopping. Cyler wouldenjoy
doinghis groceryshopping at a _______________.
A.
Categorykiller
B.
Combinationstore
C.
Superstore
D.
Hypermarket
32) Best Buystores carrya deepassortment of the latest electronics gadgets. Theyoffer buyers a great deal ofassistance and
advice inmakingselections. Best Buywould be anexample ofa _____________.
A.
Factoryoutlet
B.
Specialtystore
C.
Department store
D.
Superstore
33) Convenience goods suchas snack foods are soldthrough_________________.

11. A.
Limitedservice
B.
Self-selection
C.
Full-service
D.
Self-service
34) McDonald’s franchiseesget a small discount whentheypaytheir bills for supplies withinthe first seven days (whenthe due
date is 30 days after delivery). This is an example of ___________ within channel relations.
A.
Conditions of sale
B.
Price policies
C.
Sharingthe risks
D.
Territorial rights
35) Because of Coca-Cola’s size andpower inthe marketplace, theytend to dominate some members in the channel. This
allows themto require strong cooperationfromresellers whocarryCoke products. This is an example of a(n) _____________.
A.
Horizontal marketing system
B.
Administeredverticalmarketing system
C.
Corporate vertical marketing system
D.
Contractual vertical marketing system
36) Which is the last major decisionininternational marketing?
A.

12. Decidingon the marketing organization
B.
Decidinghowto enter the market
C.
Decidingon the marketing program
D.
Decidingwhichmarkets to enter
37) Zhao is advertisingher import-export businessand wants to findthe most cost-effective wayof delivering the desired
number and types of message exposures to her target audience. Zhao is considering her ________________.
A.
Media selection
B.
Creative development andexecution
C.
Plan of attack
D.
Marketingplan
38) Advertising for Advil painreliever shows Advil is superior to Tylenol. This is anexample of _________advertising.
A.
Informative
B.
Persuasive
C.
Reminder
D.
Descriptive
39) Assume you are advertising veryexpensive authentic Turkishcarpets to upscale investors inGermany. Credibilityand
prestige are important. The best medium for your advertisingmessage is _____________.
A.
Direct mail

13. B.
Newspapers
C.
Magazine
D.
Television
40) Which ofthe followingwouldNOT be consideredpart of a marketing communications program?
A.
Personal selling
B.
A sales promotion
C.
An event sponsorship
D.
Brand contact
41) This is the use of mail, telephone, fax, email, or the Internet to communicate directlywith or solicit a response or dialogue
from specific customers or prospects.
A.
Direct marketing
B.
Viral marketing
C.
Brand building
D.
Personal selling
42) Bradford Soap, the secondlargest soapmaker inthe world, occasionallyarranges tours of their plant inWarwick, Rhode
Island. Thisis part of what kindof communications platform?
A.
Sales promotion
B.

14. Experiences
C.
Personal selling
D.
Events
43) The first computers originated for home use were onlysoldin kit form to technical enthusiasts whodidtheir ownassembly.
Demandwas high andso were prices. At the time, the firmoffering these kits wouldlikelyhave beenusing the __________
concept.
A.
Production
B.
Market
C.
Technological
D.
Product
44) The computer _______________ consists of the manufacturers of computer memorychips, monitors, keyboards, coaxial
cables, modems, software, storage systems (disks, harddrives, portable USBmedia), andthose whoinstall, repair, and maintain
systems andsoftware.
A.
Marketspace
B.
Metamarket
C.
Macromarket
D.
Marketplace
45) Which ofthe followingis correct?
A.
A megamarket includes onlysuppliers
B.

15. A metamarket is a huge store
C.
A marketspace is a digital shopping“area.”
D.
A metamediaryis a physicalmarketplace.
46) Marketing __________ is the art andscience of choosing target markets and getting, keeping, andgrowing customers
through creating, delivering, andcommunicating superior customer value.
A.
internally
B.
integration
C.
segmentation
D.
management
47) Which ofthe followingis most closelyassociated witha proactive marketing orientation?
A.
It involves deliveringsuperior value.
B.
The marketer focuseson the customers’ latent needs.
C.
It represents the “make and sell“philosophy.
D.
It is about understandingandmeetingcustomers’ expressedneeds.
48) __________________ is/are an organizationfunction(s) and a set ofprocesses for creating, communicating, and delivering
value to customers andfor managingcustomer relationships in ways that benefit the organizationandits shareholders.
A.
Marketing
B.
Ethics

16. C.
Strategic planning
D.
Management
49) Which ofthe followingis NOT one of the Ms inmarketing?
A.
Management
B.
Measurement
C.
Money
D.
Mission
50) Advertising for Advil painreliever shows howAdvil is superior to Tylenol. This is anexample of_________advertising.
A.
Persuasive
B.
Instructive
C.
Informative
D.
Reminder
51) Hospitalsare engagedinintense competitionto fill maternitybeds. What type of advertising would hospitals most likely use
to advertise their new amenitieslike Jacuzzisineveryroom, filet mignon or lobster onthe menu, andafternoonteas for the
new mothers and their families?
A.
Descriptive
B.
Informative
C.

17. Reminder
D.
Persuasive