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MKT 421 FINAL EXAM NEW

1. A producer might use a
“pulling policy” rather than a “pushing policy” if:
Intermediaries are reluctant
to handle a new product.
Its sales force has been very
successful getting wholesalers and retailers to handle its product.
It has a very limited
promotion budget.
It is offering a very
“high-tech” product to a small product-market.
2. When new product ideas are
chosen based on ratings and comments from customers, this process is called
______.
Creative resourcing
Idea engineering
Reaction engineering
Crowdsourcing
3. The primary purpose of
branding is:
To prevent competitors from
stealing product ideas.
To boost customer
satisfaction.
To identify a product.
To enhance package design.
4. The company tries to
follow an organized new-product development process—rather than using a faster
and more spontaneous, “race-to-market” approach.
The managers worry too much
about the competition.
The product fails to offer
the customer a unique benefit.
The company delays putting
the product on the market until it develops a complete marketing plan.
5. Genetech Corp. has
invested heavily to develop a patented new product. Genetech wants to achieve a
rapid return on its investment. It probably should set a ______________ pricing
objective.
Status quo
Target return
Profit maximization
Sales-oriented
6. In the American Marketing
Association’s Statement of Ethics, which ethical value stresses a firm’s
attempts to balance the needs of its buyers with the interests of sellers?
Responsibility
Citizenship
Fairness
Honesty
7. David Oreck advertises
Oreck vacuum cleaners via commercials that run on national radio programs. He
encourages consumers to “…try my 8-pound Oreck vacuum for free for 30 days,”
and to return it if they aren’t satisfied. He then provides an easy-to-remember
toll-free telephone number that consumers can use to place orders. Regarding
the AIDA model, the free-trial period and availability of a toll-free number
are devices used mainly to:
Get attention.
Arouse desire.
Obtain action.
Hold interest.
8. Most firms in the business
world set their prices using:
Supply and demand analysis.
Federal price guidelines.
Cost-oriented price setting.
Demand-oriented price
setting.
9. Compared with other
approaches to business, the marketing concept is distinct in that it:
Focuses on sales.
Focuses on satisfying
customers’ needs.
Produces new products and
services
Creates a broad assortment of
products.
10. More than 600,000 loyal
customers signed up in advance to purchase the iPhone4 in an Apple store the
first day it was available for sale in the U.S. What type of response behavior
were these Apple followers demonstrating?
Dissonance response
Low-involvement buying
Routinized response
Limited problem solving
11. In which quadrant of the
SWOT analysis tool does the following fit? A firm is in a fast-growing
industry.
Weaknesses
Strengths
Opportunities
Threats
12. A useful tool for
organizing the competitor analysis is:
Rivals chart.
The competitive summary.
The oligopoly chart.
A competitor matrix.
13. From the perspective of
macro-marketing, e-commerce specialists CarFax (which provides vehicle history
reports) and Cars.com (a website offering auto comparison shopping) have
emerged within the auto industry because:
The role of the automotive
sales person is becoming obsolete.
The market needs competitive
rivals to auto dealerships.
The information they provide
makes the exchange process between producers and consumers more efficient and
effective.
Auto manufacturers need to
sell direct to consumers.
14. Which of the following is
true of direct distribution?
Direct distribution always
serves customer needs better and at a lower cost.
It requires a significant
investment in facilities.
Most firms selling consumer
products rely on direct distribution.
It reduces a producer’s need
for working capital.
15. Behavioral targeting:
Tries to reach target
customers who are actually interested in what the firm has to communicate.
Allows advertisers to pay
only when a customer clicks on the ad and links to the advertiser’s website.
Tries to place ads on
websites that are designed to appeal to the firm’s target market.
Delivers ads to consumers
based on previous websites the customer has visited.
16. The main difference
between a “marketing strategy” and a “marketing plan” is that:
A marketing strategy omits
pricing plans.
A marketing strategy provides
more detail.
A marketing plan includes
several marketing strategies.
Time-related details are
included in a marketing plan.
17. When a company provides
its advertising agency with a statement about a new product to use in designing
an advertising campaign, and this statement includes a description of the
target market, the product type, the primary benefits of using the product, and
how this product is different from, and better than, competitive products, what
type of statement is this?
Determining
Qualifying
Clustering
Positioning
18. Blending the firm’s
promotion efforts to convey a complete and consistent message is the goal of:
Sales management communications.
Integrated marketing
communications.
Sales promotion
communications.
Integrated promotional
marketing
19. In the 1990s, DVDs
replaced audiocassettes and floppy disks as the storage media of choice for
music and computers. At which stage of the product life cycle is the DVD today?
Market introduction
Sales decline
Market extinction
Market immaturity
20. According to the concept
of social responsibility, a firm has a duty to:
Place customer satisfaction
above all other considerations.
Place profit above all other
considerations.
Communicate regularly with
the public.
Conduct business in a way
that is good for society as a whole, both now and for the future.
21. The advantages of working
with an intermediary usually increase when there is:
A smaller number of competing
products.
Little distance between
customers.
Excellent communication with
customers.
A greater number of
customers.
22. Clearwater Office Supply
sells frequently purchased office supplies to businesses in a metropolitan
area. It is a well-established company with a large share of the market. Its
promotion should probably focus on:
Stimulating primary demand.
Reminding.
Innovators.
Informing.
23. The phrase “big data”
refers to:
the use of marketing research
in big marketing decisions.
the
massive amount of data being collected and processed by
today’s organizations.
the top five firms in the
marketing research industry.
marketing research data taken
from Internet sources.
24. When an advertiser pays a
fixed amount (e.g. 70 cents) each time a Web surfer clicks on the advertiser’s
ad and links to the advertiser’s website, this process is called a(n):
pay-per-click.
pay-per-view.
pioneering ad.
copy thrust.
25. The sales analysis of a
product revealed that profits were highest when it was initially introduced
into the market with a high selling price. However, the price was gradually
reduced as it started facing competition as substitutes entered the market.
This is an example of a(n) _____.
Penetration price policy
Skimming price policy
Introductory price dealing
Temporary price cut policy
26. Tammi Soloft has itchy
eyes and a stuffy nose, and suddenly becomes aware of many TV ads for allergy
products that she never noticed before. This illustrates:
reinforced cognition.
selective perception.
selective retention.
selective exposure.
27. The main difference
between the “marketing department era” and the “marketing company era” is:
More emphasis on selling and
advertising in the marketing department era.
More emphasis on short-run
planning in the marketing company era.
Whether the whole company is
customer-oriented.
Whether the president of the
firm has a background in marketing.
28. The three basic sales
tasks are:
Order-taking, order-managing,
and order-getting.
Order-taking, supporting, and
order-getting.
Order-closing, order-opening,
and sales-promoting.
Order-taking, missionary
selling, and order-getting.
29. Marketers cannot assume
that a product that meets consumer needs in one country will do so in another.
This is because:
The purchase situations may
be different.
Economic wants do not
influence purchases in many regions of the world.
Family life cycles may be
different.
Many wants are culturally
learned.
30. Because she frequently
buys books at Amazon.com, Sophie Soleil set up an account and password at the
website. Now, when she logs on and searches for a specific book, a note pops up
at the center of her laptop screen saying: “Hello, Sophie, we have recommendations
for you,” and proceeds to list other titles that Sophie might enjoy based on
her previous purchases. Amazon can remember Sophie (and her previous purchases)
because the online retailer uses:
Encoding.
Banners.
Cookies.
Decoding.

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