MKT 421 Marketing
FINAL EXAM
1.
According to the text, marketing means:
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.
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.
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.
Which of the following statements regarding marketing strategies
is FALSE?
7.
A firm's marketing mix decision areas would NOT include:
8.
Which of the following is true?
9.
Product is NOT concerned with:
10. Dell, Inc. wants
to offer customers televisions in addition to computers. This is a change in
their _____________________
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:
12. The ______ area
of the marketing mix is concerned with decisions about getting the right
product to the target market when and where it is wanted.
13. The main
difference between a marketing strategy and a marketing plan is that:
14. A marketing plan
is:
15. Which of the
following is part of a complete marketing plan?
16. Marketing strategy
planners should recognize that:
17. Target marketing,
in contrast to mass marketing,
18. Good marketing
strategy planners know that:
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. Clustering
techniques applied to segmenting markets
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. Procedures that
develop and analyze new information to help marketing managers make decisions
are called:
23. ________________
________________ utilizes qualitative and quantitative analysis procedures to
help marketing managers make more informed decisions.
24. A ______________
is an organized way of continually gathering and analyzing data to get
information to help marketing managers make ongoing decisions.
25. Marketing
research which seeks structured responses that can be summarized is called:
26. One of the major
disadvantages of the focus group interview approach is that
27. Focus groups:
28. The observing
method in marketing research:
29. The attitudes and
behavior patterns of people are part of the
30. Which of the
following statements about consumer products is true?
31. ______________ is
the process of naming broad product-markets and then
32. Which is the
first step in market segmentation?
33. The first step in
market segmentation should be:
34. Which of the
following is NOT one of the text's product life cycle stages?
35. The product life
cycle:
36. 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.
37. Regarding product
life cycles, which of the following is NOT true?
38. 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?
39. During the market
introduction stage of the product life cycle:
40. Advertising
allowances
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. A producer using
very aggressive promotion to get final consumers to ask intermediaries for a
new product has:
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. Integrated
direct-response promotion:
46. Which of the
following statements about positioning is NOT TRUE?
47. When segmenting
broad product-markets, cost considerations tend
48. Positioning
analysis
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. Identify the
incorrect statement about sales promotions.
53. Which of the
following is a key trend affecting marketing strategy planning?
54. 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.
55. The future poses
many challenges for marketing managers because:
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. Which of the following
statements about ethical behavior in business is true?