Posted: May 13th, 2018

TAMUC MKT521 midterm exam

Multiple Choice – 20
questions (40 pts.)

Choose the appropriate answer.

Question 1.1.In which of the
external environments changes usually occur most slowly?(Points : 2)

Cultural and
social environment
Political and
legal environments

Resources and
objectives of the firm

Competitive
environment
Economic and technological
environments

Question 2.2.
Jersey
G. wanted to start a decorating business. She identified several
possible target markets, but decided to serve a market composed of
recently married couples that owned their first home. Jersey appears
to be following ____________.
(Points : 2)

mass marketing
multiple target
market

combined target
market
single target
market

All of the above.

Question 3.3.MICRO-marketing
effectiveness can be measured by ______________. (Points : 2)

the profits of business firms
the opinions of
intermediaries
consumer complaints
attitude research studies

All of these are good
measurements for MICRO-marketing.

Question 4.4.Mickey and Minnie
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 Minnie’s car to purchase a minivan. Mickey
and Minnie decided on a Honda Odyssey because Minnie is
familiar with Hondas and thinks they are very reliable. In this purchase
situation, Mickey and Minnie’s family life cycle stage is a
_____________ segmenting dimension, and the benefit Minnie seeks
(reliability) is a _____________ segmenting dimension.
(Points : 2)

geographic;
demographic

demographic;
behavioral
geographic;
behavioral

demographic;
geographic
behavioral;
demographic

Question 5.5.Which of the following
observations concerning planning strategies for international markets is
false? (Points : 2)

A marketing manager should
know that relying on intuition or personal experience may be misleading.
A marketing manager should
know that understanding local cultural differences is of no real value.
A marketing manager should
know that consumers in a foreign culture are probably bound by some similar
cultural forces.
A marketing manager should
involve locals who have a better chance of understanding the interests of
customers.

A marketing manager should
understand that many specific influences do not generalize from one culture
to another.

Question 6.6.A producer of
electrical components combined electrical supply wholesalers and
manufacturers of electrical equipment into the same market segment, one
of several segments it was targeting. Soon it lost the manufacturers’
business to a competitor. It seems that the firm failed to consider the
risk of ______________________.

(Points : 2)

too much
aggregating
insulting the
manufacturers by putting them in the same market segment with the
wholesalers

picking market
segments based on qualifying dimensions
selecting market
segments that were not substantial

using too many
segmenting dimensions.

Question 7.7.Which of the
following statements best describes the modern view of marketing? (Points : 2)

The job of
marketing is to sell whatever the company is producing.
Marketing begins
with anticipating potential customer needs.

Marketing should
take over production, accounting, and financial services within a firm.
Marketing is
concerned with generating a single exchange between a firm and a customer.

Production, not
marketing, should determine what goods and services are to be developed.

Question 8.8.
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
_______________.
(Points : 2)

auto manufacturers need to
sell direct to consumers
the market needs
competitive rivals to auto dealerships
the information they provide
makes the exchange process between producers and consumers more efficient
and effective
the role of the
automotive sales person is becoming obsolete
consumers live far distances
from most automotive plants

Question 9.9.
A marketing
manager should __________________.
(Points : 2)

know that most
consumer complaints do not require a response because the consumer’s
dissatisfaction is beyond the control of the firm
be concerned that
many of the complaints that are reported are never resolved
recognize that
many consumers who complain are trouble makers and that not much can or
should be done about their complaints
assume that most
customers who are dissatisfied will complain, but that people who are
satisfied will be silent
recognize that a
“complaint” box isn’t needed if the firm is really
market-oriented in the first place

Question 10.10.When listening to music on
the radio, many consumers automatically switch stations when commercials
begin to run, and they search until they find another station that is
playing music. This tendency is an example of _____________. (Points : 2)

selective exposure
selective perception
selective retention
selective learning
selective reception

Question 11.11.Prince wants to design
a necklace he would like to give his girlfriend, Charming. Lately
though, he has noticed that he is constantly “designing”
the piece in his head. At times, he even dreams about the finished
work. Prince is probably going through _________ behavior. (Points : 2)

compulsive
creative
subliminal
impulsive
rational

Question 12.12.A marketing analyst for a
chicken processor reports that a rising percentage of people are eating
chicken because it has less fat than beef. Clearly, this firm’s
opportunities may improve with this change in the ______________.
(Points : 2)

technological environment
cultural and social
environment

economic environment
political and legal
environment

competitive environment

Question 13.13.The marketing management
team for TAMUC Motors brainstormed a variety of solutions to the
problem of how to transport people in the world. This process came during
the __________ step in the market segmentation process.
(Points : 2)

disaggregating
market definition
segmenting
aggregating
approach selection

Question 14.14.An emphasis on
a single country’s interests before everything else is known as
__________. (Points : 2)

socialism
democracy
capitalism
nationalism
entrepreneurship

Question 15.15.When you are
“in the market” for a new car, and are considering different
brands to purchase, what type of market is involved? (Points : 2)

Product-market
Qualifying market
Generic market
Determining
market
None of the above are
true.

Question 16.16.A national restaurant chain
encourages its customers to use its website as a means of providing
comments about their experiences at the chain’s locations. This website
is one way of measuring _______________. (Points : 2)

macro-marketing
effectiveness
the effectiveness
of competition
employee
empowerment

micro-marketing
effectiveness
All of these
alternatives are correct.

Question 17.17.Which of the
following would be the most difficult task facing a marketing manager?(Points : 2)

Discover the
attitudes of the firm’s target market.
Create new
attitudes toward his or her brand.
Promote existing
attitudes.
Change existing
negative attitudes.
Strengthen existing positive
attitudes.

Question 18.18.Which of the following
statements about marketing is FALSE?

(Points : 2)

Marketing affects
the products you buy.
Marketing applies to
nonprofit organizations too.

Marketing affects the
advertising you see and hear.
Marketing offers many good
job opportunities.
Marketing can help with
individual transactions but not in building relationships with customers.

Question 19.19.Kim, a new salesperson for
Basketball Foods, wants to call her ex-boyfriend Chris, another
salesperson for Basketball Foods using the company provided cell
phone. She is hoping to rekindle their past relationship. However,
Kim knows that there is a strict company policy against using
company equipment for personal use. But Kim also knows that no one checks
the phone log for calls. This relates to __________ as an influence
in ethical decision making. (Points
: 2)

individual value system
opportunity
organizational relationships
insubordination
external punishment

Question 20.20.Good marketing
managers know that ________________________. (Points : 2)

marketing strategies can’t
influence consumer “wants”
marketers can’t create
internal drives in consumers
it is not that
difficult to develop a marketing strategy that gets consumers to do what
they don’t want to do
None of these alternatives is
correct.
All of the above are true.

True/False Section –
10 questions (20 pts.)

Indicate if the following statements are True
or False.

Question 1.1. Get research paper samples and course-specific study resources under   homework for you course hero writing service – Manage rs are
now applying a new screening criteria, sustainability, that reinforces
the importance of meeting present needs without compromising the ability
of future generations to meet their own needs.

(Points : 2)

True
False

Question 2.2.The
“continuum of environmental sensitivity” suggests that
industrial products are more sensitive to the cultural environments in
which they are placed than high-style consumer products. (Points : 2)

True
False

Question 3.3.Estimating what
price consumers are willing to pay for a product and if the firm can make
a profit selling at that price, is an example of a production activity. (Points : 2)

True
False

Question 4.4.The legal
environment sets the maximum standards of ethical behavior in a society. (Points : 2)

True
False

Question 5.5.Nike moved
beyond shoes and sportswear to offer its athletic target market a running
watch, digital audio player, and even a portable heart-rate monitor. This
is an example of a market development strategy. (Points : 2)

True
False

Question 6.6.A firm usually
has different strategy possibilities that it can pursue, so it must use
screening criteria to help eliminate those strategies not well-suited to
the firm. (Points : 2)

True
False

Question 7.7.Because almost
all of the world’s population can read and write, international marketers
have no problems in communicating with potential customers no matter
where they live.
(Points : 2)

True
False

Question 8.8.Unfavorable
trends in the domestic marketing environment may make the international
marketing environment very attractive. (Points : 2)

True
False

Question 9.9.Qualifying
dimensions are those that actually affect the customer’s purchase of a
specific brand in a product-market. (Points
: 2)

True
False

Question 10.10.A firm involved
in international marketing should pay even more attention to segmenting
than a firm that sells only in the United States. (Points
: 2)

True
False

Essay Section – 4
questions (40 pts.)

Answer the following essay questions. Be as
thorough as possible. Remember that this is a graduate level course,
and expectations are as such.

Question 1.1.The first part of this MKT 521 course (Chaps.
1, 20, 2, 3, 4, 5) focused on understanding the target customer.
Discuss the importance of this in relation to differentiation and
positioning. (Points : 10)

Question 2.2.Explain how a SWOT analysis
can direct a company’s R & D (research & development) efforts
to create new products. (Points
: 10)

Question 3Discuss the
concept of segmentation within the context of the automotive industry in
the US. That is, explain how segmentation is used by the automotive
industry.(Points : 10)

Question 4.4.Briefly discuss the 2 approaches to consumer
behavior. (Points : 10)

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