14 Aug MKT 571 Final Exam 1) Which of the following is most closely associated with a p

MKT
571 Final Exam
1) Which of the following is most closely associated
with a proactive marketing orientation?
A. It involves delivering superior value.
B. It is about understanding and meeting customers expressed needs.
C. It represents the make and sell” philosophy.
D. The
marketer focuses on the customers latent or hidden needs.
2) Marketing __________ is the art and science of choosing target
markets and getting, keeping, and growing customers through creating,
delivering, and communicating superior customer value.
A. internally
B.
management
C. segmentation
D. integration
3) Business buyers ______________.
A. are geographically as diverse as consumers
B. tend to
be geographically concentrated with over half of them in seven states
C. are largely concentrated in the southwestern United States
D. use geographical dispersion to keep shipping costs low
4) Toyota, the maker of the Scion brand, is using what kind of brand strategy
with Scion products?
A. Separate family names
B. Blanket family names
C.
Individual names
D. Corporate names
5) BMW, the maker of the Mini Cooper brand, is using what kind of brand
strategy with its Mini products?
A.
Individual names
B. Blanket family names
C. Separate family names
D. Corporate names
6) Brands can play a number of specific roles within a companys brand
portfolio. For example, a __________ is positioned with respect to competitors
brands so that more important and profitable brands retain their desired
positioning.
A. cash cow
B. low-end, entry level brand
C. high-end, prestige brand
D. flanker
7) When Apple introduced its popular iPod Nano model, it dropped its
Mini iPod at the same time. The Mini was, at the time, the most popular MP3
player in the marketplace. This is an example of __________.
A. brand extension
B.
preemptive cannibalization
C. a brand shake-out
D. product maturity
8) A ___________ is when a parent brand is used on a new product targeting a
new market segment within a category currently served by the parent.
A. joint-venture co-brand
B. same company co-brand
C. category extension
D. line
extension
9) ___________ are formal statements of expected product performance by
the manufacturer.
A. Open pricing statements
B. Promotional statements
C.
Warranties
D. General guarantees
10) Mazdas Miata convertible originally drew the most interest from women
between the ages of 35 and 55. In order to interest more potential customers in
the roadster, Mazda beefed up the model with heavier shocks and a faster
engine, and then emphasized performance in its advertising. This is an example
of creating a new product by ____________.
A.
repositioning
B. the development of a new product line
C. market diversification strategy
D. product development strategy
11) When SAP software added a Windows-style back button to its industrial
invoice management software, the new product ___________.
A. used a new product line
B. added to an existing product line
C. improved
upon an existing product
D. used a marketing diversification strategy
12) In 2003, Toyota introduced its Scion brand with the aim of bringing younger
buyers into the family. This was a classic example of _________________.
A. line featuring
B. line cannibalization
C. line padding
D. line
stretching
13) Painting and consulting are considered industrial goods because
______________.
A. they are specialty goods
B. they are considered component materials”
C. most firms do not seek them directly
D. they
facilitate developing and managing the finished product
14) Marketers plan their market offerings at five levels. What is the
correct order of the levels, going from most fundamental to the level with the
most benefits?
A. Basic-expected-augmented-core-potential
B. Expected-potential-basic-augmented-core
C.
Core-basic-expected-augmented-potential
D. Potential-augmented-expected-core-basic
15) Characteristics a buyer can evaluate before purchase are called
_______________.
A. search
qualities
B. experience qualities
C. credence qualities
D. differentiation qualities
16) For $15 a day, Chlena will go to your home and feed, water, and play with
your pet while you are on vacation. The service Chlena
provides is an example of a _____________.
A. tangible good with accompanying service
B. hybrid
C. pure
service
D. major service with accompanying minor goods and services
17) Mr. Tse and his family took a vacation to Washington, D.C. While there,
they bought souvenirs; t-shirts and hats to take home to family and friends who
didnt have the opportunity to go. The experience of the Tse family is an
example of which offering?
A. A tangible good with accompanying services
B. A hybrid
C. A pure service
D. A major
service with accompanying minor goods and services
18) Best Buy will often try to sell the buyer of a
high-end television monitor an extended warranty. This
is an example of _______________.
A. pure tangible good
B. tangible
good with accompanying services
C. hybrid
D. pure service
19) The introduction of a new product
to the market using market-penetration pricing is most likely to be successful
when _____________.
A. the .justanswer.com/business/5rd0v-18-best-buy-will-often-try-sell-buyer-high-end.html”>unit costs of producing a small volume of the product
are high
B. there must be no existing demand for the product
C. the market
is highly price sensitive
D. the high price communicates nothing to potential buyers
20) A __________ pricing objective is suitable for a company that has
overcapacity, intense competition, and changing customer needs.
A. maximum current profit
B. survival
C. maximum current revenue
D. maximum sales growth
21) Scotty is in the process of opening Suburban Legends SK8S to sell boards,
wheels, trucks, clothing, .justanswer.com/business/5rd0v-18-best-buy-will-often-try-sell-buyer-high-end.html”>videos, and skateboarding related collectibles. The
first thing Scotty should do when setting the stores prices is to
____________.
A. estimate costs
B. determine the target market
C. select a pricing method
D. select a
pricing objective
22) A common mistake in pricing is ____________________.
A. revising prices too often
B. considering price and price competition as a key problem in marketing
C. ignoring costs when setting prices
D. setting
prices independently of the rest of the market mix
23) When customers buy on the basis of a reference price or because the
price conveys a particular .justanswer.com/business/5rd0v-18-best-buy-will-often-try-sell-buyer-high-end.html”>quality image to them, they are being influenced by
____________.
A. value pricing
B. the
psychology of pricing
C. the going rates of competitors
D. value augmented by perception
24) Which of the following areas will a marketing manager standardize or adapt
when taking a new product global?
A. Marketing concept
B. Marketing
mix
C. Product strategy
D. Promotion strategy
25) Which of the following best describes integrated marketing communication
(IMC)?
A. Organizations present a consistent message.
B. Organizations present an effective communication plan.
C. Organizations present a plan that focuses on the customer.
D.
Organizations present an effective advertising message.
26) Which of the following best describes the role of social
responsibility in marketing?
A. Standards that guide marketing decisions and actions
B. Improving environment and products
C. Obligation to improve positive effects on society
D.
Obligation to improve positive effects and reduce negative effects on society
27) Public policy makers have developed a substantial body of laws and
regulations to govern advertising. For these reasons, an important step in
developing an advertising campaign is _____________.
A. asking network censors what to cut out of the communication
B. the creative development of the message
C. the
social responsibility review
D. preparing a copy strategy statement
28) Within the last couple years several cosmetics manufacturers have
introduced non-clumping mascara. Revlon was one of these manufacturers. Revlon
should use ________ advertising to increase selective demand for its
non-clumping mascara.
A. descriptive
B.
persuasive
C. reminder
D. informative
29) Hospitals are engaged in intense competition to fill maternity beds. What
type of advertising would hospitals most likely use to advertise their new amenities
like hot tubs in every room, filet mignon or lobster on the menu,
and afternoon teas for the new mothers and their families?
A. descriptive
B. persuasive
C. reminder
D.
informative
30) _____________ is the key ingredient in marketing campaigns and
consists of a diverse collection of short-term incentive tools designed to
influence trial, purchase, and interests of consumers
and wholesalers.
A. Advertising
B. Public relations
C. Sales
promotion
D. Personal sellingMKT
571 Final Exam1) Which of the following is most closely associated
with a proactive marketing orientation?
A. It involves delivering superior value.
B. It is about understanding and meeting customers expressed needs.
C. It represents the make and sell” philosophy.
D. The
marketer focuses on the customers latent or hidden needs.
2) Marketing __________ is the art and science of choosing target
markets and getting, keeping, and growing customers through creating,
delivering, and communicating superior customer value.
A. internally
B.
management
C. segmentation
D. integration
3) Business buyers ______________.
A. are geographically as diverse as consumers
B. tend to
be geographically concentrated with over half of them in seven states
C. are largely concentrated in the southwestern United States
D. use geographical dispersion to keep shipping costs low
4) Toyota, the maker of the Scion brand, is using what kind of brand strategy
with Scion products?
A. Separate family names
B. Blanket family names
C.
Individual names
D. Corporate names
5) BMW, the maker of the Mini Cooper brand, is using what kind of brand
strategy with its Mini products?
A.
Individual names
B. Blanket family names
C. Separate family names
D. Corporate names
6) Brands can play a number of specific roles within a companys brand
portfolio. For example, a __________ is positioned with respect to competitors
brands so that more important and profitable brands retain their desired
positioning.
A. cash cow
B. low-end, entry level brand
C. high-end, prestige brand
D. flanker
7) When Apple introduced its popular iPod Nano model, it dropped its
Mini iPod at the same time. The Mini was, at the time, the most popular MP3
player in the marketplace. This is an example of __________.
A. brand extension
B.
preemptive cannibalization
C. a brand shake-out
D. product maturity
8) A ___________ is when a parent brand is used on a new product targeting a
new market segment within a category currently served by the parent.
A. joint-venture co-brand
B. same company co-brand
C. category extension
D. line
extension
9) ___________ are formal statements of expected product performance by
the manufacturer.
A. Open pricing statements
B. Promotional statements
C.
Warranties
D. General guarantees
10) Mazdas Miata convertible originally drew the most interest from women
between the ages of 35 and 55. In order to interest more potential customers in
the roadster, Mazda beefed up the model with heavier shocks and a faster
engine, and then emphasized performance in its advertising. This is an example
of creating a new product by ____________.
A.
repositioning
B. the development of a new product line
C. market diversification strategy
D. product development strategy
11) When SAP software added a Windows-style back button to its industrial
invoice management software, the new product ___________.
A. used a new product line
B. added to an existing product line
C. improved
upon an existing product
D. used a marketing diversification strategy
12) In 2003, Toyota introduced its Scion brand with the aim of bringing younger
buyers into the family. This was a classic example of _________________.
A. line featuring
B. line cannibalization
C. line padding
D. line
stretching
13) Painting and consulting are considered industrial goods because
______________.
A. they are specialty goods
B. they are considered component materials”
C. most firms do not seek them directly
D. they
facilitate developing and managing the finished product
14) Marketers plan their market offerings at five levels. What is the
correct order of the levels, going from most fundamental to the level with the
most benefits?
A. Basic-expected-augmented-core-potential
B. Expected-potential-basic-augmented-core
C.
Core-basic-expected-augmented-potential
D. Potential-augmented-expected-core-basic
15) Characteristics a buyer can evaluate before purchase are called
_______________.
A. search
qualities
B. experience qualities
C. credence qualities
D. differentiation qualities
16) For $15 a day, Chlena will go to your home and feed, water, and play with
your pet while you are on vacation. The service Chlena
provides is an example of a _____________.
A. tangible good with accompanying service
B. hybrid
C. pure
service
D. major service with accompanying minor goods and services
17) Mr. Tse and his family took a vacation to Washington, D.C. While there,
they bought souvenirs; t-shirts and hats to take home to family and friends who
didnt have the opportunity to go. The experience of the Tse family is an
example of which offering?
A. A tangible good with accompanying services
B. A hybrid
C. A pure service
D. A major
service with accompanying minor goods and services18) Best Buy will often try to sell the buyer of a
high-end television monitor an extended warranty. This
is an example of _______________.
A. pure tangible good
B. tangible
good with accompanying services
C. hybrid
D. pure service
19) The introduction of a new product
to the market using market-penetration pricing is most likely to be successful
when _____________.
A. the .justanswer.com/business/5rd0v-18-best-buy-will-often-try-sell-buyer-high-end.html”>unit costs of producing a small volume of the product
are high
B. there must be no existing demand for the product
C. the market
is highly price sensitive
D. the high price communicates nothing to potential buyers
20) A __________ pricing objective is suitable for a company that has
overcapacity, intense competition, and changing customer needs.
A. maximum current profit
B. survival
C. maximum current revenue
D. maximum sales growth
21) Scotty is in the process of opening Suburban Legends SK8S to sell boards,
wheels, trucks, clothing, .justanswer.com/business/5rd0v-18-best-buy-will-often-try-sell-buyer-high-end.html”>videos, and skateboarding related collectibles. The
first thing Scotty should do when setting the stores prices is to
____________.
A. estimate costs
B. determine the target market
C. select a pricing method
D. select a
pricing objective
22) A common mistake in pricing is ____________________.
A. revising prices too often
B. considering price and price competition as a key problem in marketing
C. ignoring costs when setting prices
D. setting
prices independently of the rest of the market mix
23) When customers buy on the basis of a reference price or because the
price conveys a particular .justanswer.com/business/5rd0v-18-best-buy-will-often-try-sell-buyer-high-end.html”>quality image to them, they are being influenced by
____________.
A. value pricing
B. the
psychology of pricing
C. the going rates of competitors
D. value augmented by perception
24) Which of the following areas will a marketing manager standardize or adapt
when taking a new product global?
A. Marketing concept
B. Marketing
mix
C. Product strategy
D. Promotion strategy
25) Which of the following best describes integrated marketing communication
(IMC)?
A. Organizations present a consistent message.
B. Organizations present an effective communication plan.
C. Organizations present a plan that focuses on the customer.
D.
Organizations present an effective advertising message.
26) Which of the following best describes the role of social
responsibility in marketing?
A. Standards that guide marketing decisions and actions
B. Improving environment and products
C. Obligation to improve positive effects on society
D.
Obligation to improve positive effects and reduce negative effects on society
27) Public policy makers have developed a substantial body of laws and
regulations to govern advertising. For these reasons, an important step in
developing an advertising campaign is _____________.
A. asking network censors what to cut out of the communication
B. the creative development of the message
C. the
social responsibility review
D. preparing a copy strategy statement
28) Within the last couple years several cosmetics manufacturers have
introduced non-clumping mascara. Revlon was one of these manufacturers. Revlon
should use ________ advertising to increase selective demand for its
non-clumping mascara.
A. descriptive
B.
persuasive
C. reminder
D. informative
29) Hospitals are engaged in intense competition to fill maternity beds. What
type of advertising would hospitals most likely use to advertise their new amenities
like hot tubs in every room, filet mignon or lobster on the menu,
and afternoon teas for the new mothers and their families?
A. descriptive
B. persuasive
C. reminder
D.
informative
30) _____________ is the key ingredient in marketing campaigns and
consists of a diverse collection of short-term incentive tools designed to
influence trial, purchase, and interests of consumers
and wholesalers.
A. Advertising
B. Public relations
C. Sales
promotion
D. Personal selling

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