MKT 421 Final Exam Guide 2 (Uop)
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www.tutorialoutlet.com 1) According to the text, marketing means:
2) Which of the following statements best describes the modern view of marketing?
3) 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 4) 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: 5) 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
6) Which of the following statements regarding marketing strategies
7) The four Ps of a marketing mix are:
8) Which of the following is true? 9) Product is NOT concerned with: 10) When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:
11) Big Fizz Co., a manufacturer of cola-flavored drinks, wants to add packaged fruit juices to its existing product line. Big Fizz must make some decisions regarding packaging and branding of the fruit juices. These decisions would fall under which variable of the marketing mix?
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) Target marketing, in contrast to mass marketing,
17) Marketing strategy planners should recognize that: 18) Good marketing strategy planners know that:
19) The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable marketing mixes is called:
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) Clustering techniques applied to segmenting markets 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) One of the major disadvantages of the focus group interview approach is that
26) The part of the relevant population that is surveyed by a researcher is called the: 27) Marketing research which seeks structured responses that can be summarized is called:
28) Which of the following statements about consumer products is true? 29) The observing method in marketing research:
30) 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:
31) Which is the first step in market segmentation?
32) ______________ 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. 33) The first step in market segmentation should be:
34) Which of the following is a DEMOGRAPHIC segmenting dimension? 35) The product life cycle has four stages. Which of the following is NOT one of these? 36) The product life cycle:
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) During the market introduction stage of the product life cycle:
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) Price reductions given to channel members to encourage them to advertise or otherwise promote a firm's products locally are:
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) Integrated direct-response promotion: 44) American Tourister, Inc.â€”a producer of luggageâ€”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) 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: 46) Positioning analysis 47) Which of the following statements about positioning is NOT TRUE?
48) 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
49) Which of the following is NOT a trend affecting marketing strategy planning in the area of international marketing?
50) When a company grows globally, this is an example of:
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) Which of the following is a key trend affecting marketing strategy planning? 54) Which of the following statements DOES NOT indicate that a marketing manager is about to make a serious mistake? 55) Which of the following statements about ethical behavior in business is true?
56) The future poses many challenges for marketing managers because:
57) 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?