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MKT 421 Final Exam Guide 7

MKT 421 Final Exam Guide 7
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1) 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


2) 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:


3) According to the text, marketing means:

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


5) 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:


6) 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


7) Product is NOT concerned with:


8) The marketing mix


9) The four Ps of a marketing mix are:


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


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


12) When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:


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


14) The main difference between a marketing strategy and a marketing plan is that:


15) Which of the following is part of a complete marketing plan?
 
16) Marketing strategy planners should recognize that:

17) Good marketing strategy planners know that:


19) Clustering techniques applied to segmenting markets


20) ______________ 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.


21) The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable

marketing mixes is called:

22) ________________ ________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make

more informed decisions.


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


24) A ______________ is an organized way of continually gathering and analyzing data to get information to help marketing managers

make ongoing decisions.


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

26) Focus groups:


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


28) 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:


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


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


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) The product life cycle:

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


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


37) During the MARKET INTRODUCTION stage of the product life cycle:


38) During the market introduction stage of the product life cycle:


39) 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?


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) While watching a television program, Liza gets a phone call just as a commercial is starting. She presses the mute button on the

television's remote control and takes the call, so she pays no attention to the commercial. In terms of the communication process, the

telephone call is an example of:


43) The Canyonlands Corporation is introducing a new product next month. To prepare for the introduction, the marketing manager is

having his sales force call on distributors to explain the unique features of the new product, how the distributors can best promote it, and

what sales volume and profit margins they can reasonably expect. In addition, Canyonlands is budgeting 2% of its estimated sales for

magazine advertising. This is an example of:

44) Integrated direct-response promotion:


45) 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:


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

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


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


52) Which of the following statements DOES NOT indicate that a marketing manager is about to make a serious mistake?

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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