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MKT 421 Final Exam Guide 9 (Uop)

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www.tutorialoutlet.com ) 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:

2) Which of the following statements best describes the modern view of marketing?

3) According to the text, marketing means:

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

6) 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:

7) The four Ps of a marketing mix are:

8) A firm's marketing mix decision areas would NOT include:

9) Which of the following is true?

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

11) 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.

12) 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:

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) 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) Clustering techniques applied to segmenting markets

21) ______________ 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.

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

23) A ______________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions. 24) ________________ ________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions.


25) Focus groups:

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

27) Marketing research which seeks structured responses that can be summarized is called:

28) The observing method in marketing research:

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

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) The first step in market segmentation should be:

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) Which is the first step in market segmentation?

34) 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.

35) The product life cycle:

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

37) 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?

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) Noise (in the traditional communication process) refers to:

41) Advertising allowances

42) Typically the _____ is responsible for building good distribution channels and implementing place policies.


43) A producer using normal promotion efforts—personal selling, sales promotion, and advertising—to help sell a whole marketing mix to possible channel members 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) 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) 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

47) When segmenting broad product-markets, cost considerations tend

48) Which of the following statements about positioning is NOT TRUE?

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

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

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

52) Which of the following is a key trend affecting marketing strategy planning?


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) Identify the incorrect statement about sales promotions.

55) 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?

56) Which of the following statements about ethical behavior in business is true?

57) The future poses many challenges for marketing managers because:


Mkt 421 final exam guide 9