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MKT 421 Final Exam Guide 2

MKT 421 Final Exam Guide 2
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MKT 421

1) For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is:


2) Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of

    

3) Which of the following statements best describes the modern view of marketing?

    

4) Professional Dental Supply has been successfully selling dental instruments to dentists for the past 20 years, and has developed strong customer relations. When looking for new marketing opportunities, Professional Dental Supply will most likely look first at

    

5) Which of the following statements regarding marketing strategies is FALSE?

    
    

6) To compete more successfully with its many competitors offering packaged cookies, Famous Amos added its own line of extra chunky premium cookies. This seems to be an effort at:


7) Product is NOT concerned with:

    A.   Branding.
    B.   Packaging.
    C.   Wholesale price.
    D.   Quality level.
    

8) Which of the following is true?

    
    

9) The four Ps of a marketing mix are:



10) A firm's decisions regarding channel type, market exposure, and kinds of intermediaries would fall under the marketing mix variable of

    A.   Place.
    B.   Price.
    C.   Promotion.
    D.   Product.
    

11) Hewlett-Packard sells personal computers through specialty computer stores, electronics superstores, and its own Internet site. The marketing mix variable that is being considered here is:

    A.   Promotional.
    B.   Placement.
    C.   Product.
    D.   Pricing.
    

12) Dell, Inc. wants to offer customers televisions in addition to computers. This is a change in their _____________________


13) Which of the following is part of a complete marketing plan?

    
14) A marketing plan is:



15) Which of the following would probably NOT be in a proposed marketing plan?


16) Marketing strategy planners should recognize that:



17) Good marketing strategy planners know that:


18) Target marketing, in contrast to mass marketing,


19) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

    

20) The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable marketing mixes is called:



21) Clustering techniques applied to segmenting markets


22) A ______________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions.


    

23) Procedures that develop and analyze new information to help marketing managers make decisions are called:

    

24) ________________ ________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions.

    

25) The part of the relevant population that is surveyed by a researcher is called the:

    

26) One of the major disadvantages of the focus group interview approach is that



27) Marketing research which seeks structured responses that can be summarized is called:

    

28) The attitudes and behavior patterns of people are part of the

    
    

29) A small manufacturing firm has just experienced a rapid drop in sales. The marketing manager thinks that he knows what the problem is and has been carefully analyzing secondary data to check his thinking. His next step should be to:



30) Which of the following statements about consumer products is true?

    


31) The first step in market segmentation should be:


32) Which is the first step in market segmentation?



33) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.


    

34) Which of the following is a DEMOGRAPHIC segmenting dimension?

    
    

35) Tom and Sally Jones are preparing to purchase a new car. He currently has a Toyota Camry and she has a Honda Accord. They now have two children under age 5, so they plan to trade in Sally's car to purchase a minivan. Sally and Tom decided on a Honda Odyssey because Sally is familiar with Hondas and thinks they are very reliable. In this purchase situation, Tom and Sally's family life cycle stage is a _____________ segmentation dimension, and the benefit Sally seeks (reliability) is a _____________ segmentation dimension.


    

36) Which of the following is NOT one of the text's product life cycle stages?

    

37) An industry's sales have leveled off and profits are declining in oligopolistic competition. Consumers see competing products as homogeneous. Several firms have dropped out of the industry, but a new one entered recently. Firms in the industry are trying to avoid price-cutting by spending on persuasive advertising. These firms are competing in which stage of the product life cycle?


    

38) Regarding product life cycles, which of the following is NOT true?

    

39) Cargill, Inc. is finally earning a profit on the unique product it introduced 6 months ago. Cargill's advertising is both informative and persuasive. Much money is being spent on Place development. There is little price competition, although several competitors have come out with reasonable imitations. Total industry sales and profits are both rising. In which stage of the product life cycle is Cargill operating?


40) Typically the _____ is responsible for building good distribution channels and implementing place policies.

    

41) SGCA is having a sales contest to encourage retailers to quickly reduce the inventory of SuperGamer computers. Retailers with the highest sales during the next month win an expense paid trip to a special dealer meeting at a resort in Hawaii. This is

    

42) Price reductions given to channel members to encourage them to advertise or otherwise promote a firm's products locally are:


    

43) Nantucket Hammocks, Inc. uses dealer incentives, discounts, and sales contests in order to encourage retailers to give special attention to selling its products. Nantucket Hammocks is using


    

44) American Tourister, Inc.—a producer of luggage—is planning to introduce a new product line. The marketing manager is having her sales force call on retailers to explain American Tourister's consumer advertising plans, the unique features of the new luggage, how the distributors can best promote it, and what sales volume and profit margins they can reasonably expect. This is an example of:

    
    

45) A producer using very aggressive promotion to get final consumers to ask intermediaries for a new product has:

    

46) Positioning analysis

    

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 the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the

    

48) Which of the following statements about positioning is NOT TRUE?

    

49) When a company grows globally, this is an example of:

    

50) Which of the following is NOT a trend affecting marketing strategy planning in the area of international marketing?

    

51) A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

    

52) Identify the incorrect statement about sales promotions.

    
    

53) It is usually the _________ job, perhaps with help from specialists in technology, to decide what types of sales technology tools are needed and how they will be used.



54) Which of the following is a key trend affecting marketing strategy planning?

    

55) Which of the following statements about ethical behavior in business is true?

    

56) Many Internet sites, such as Autobytel.com and Edmunds.com, have extensive information 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 of consumers to use it?

    
    

57) The future poses many challenges for marketing managers because:



 

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