MKT 571 Final Exam 1) When Molly's parents retired, they decided they wanted to

14 Aug MKT 571 Final Exam 1) When Molly’s parents retired, they decided they wanted to

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MKT
571 Final Exam

1) When Molly’s parents retired,
they decided they wanted to travel. They found an ideal job that allows them to
travel for free, but the only catch is they have to stay at Holiday Inns.
During each stay, they test all the amenities offered by the motel and evaluate
each. The evaluation forms are sent to the motel headquarters where it becomes
part of the motel’s __________ systems.

2) Which of the following is NOT a step that might be used to improve the
quality of a firm’s marketing intelligence?

3) Small companies can engage is marketing research in a number of creative and
inexpensive ways, including _______________.

4) Rita Jenkins, president of the local Chamber of Commerce, had difficulty
getting members to assist in running the organization. She felt it was because
of lack of commitment to the Chamber. Her vice-president felt it was due to
having too many meetings. The organization’s secretary felt it was because
there were several other professional organizations to which the members also
belonged. If Rita wants to do research to determine the real reason why members
do not want to run for office, she should begin by ________________.

5) The second step in the marketing research process is ______________.

6) All of the following are steps in the marketing research process EXCEPT:

7) The last step in marketing research is developing the research plan.

8) Marketing information systems are developed from internal company records,
marketing intelligence, and marketing research.

9) The systematic collection, analysis, and reporting of data and findings
relevant to specific marketing situations is called marketing research.

10) ______________ is the difference between a prospective customer’s
evaluation of all the benefits and costs of an offering and the perceived
alternatives.

11) Lowe’s home improvement stores strive to have nicer, more knowledgeable
salespeople, a better product selection, and to maintain an impeccable image.
These are all part of improving the offer via _____________.

12) Which of the following is NOT a component part of total customer value?

13) Lee is constantly begging his mother to buy him an iPod because the most
popular kids at his school all have one. His mother contends that he’ll just break
it or lose the music player if she buys it for him. For Lee, the most popular
kids in his school are examples of a _______________.

14) Which factors have the broadest and deepest influence on consumer behavior?

15) Within the United States, Southerners, Mormons, and Native Americans are
examples of:

16) The ____________ consists of all the organizations that acquire goods and
services used in the production of other products or services that are sold,
rented, or supplied to other customers.

17) The institutional market is best described as having _____________.

18) Business buying behavior differs from
consumer buying behavior in that _________.

19) 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.

20) BMW, the maker of the Mini Cooper brand, is using what kind of brand
strategy with its Mini products?

21) 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 __________.

22) Painting and consulting are considered industrial goods because
______________.

23) ___________ are formal statements of expected product performance by the
manufacturer.

24) 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?
25) 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
didn’t have the opportunity to go. The experience of the Tse’s is an example of
which offering?

26) Which of the following best describes the category in which the offering’s
service mix is distinguished? People patronize restaurants for both food and
service.

27) Characteristics a buyer can evaluate before purchase are called
_______________.

28) When introduced in the late 1970s, personal computers had large initial
demand. People were interested in buying them to make writing and editing
easier. The earliest simple PCs were initially priced around $2,500. The
manufacturers of the first PCs were probably using a _________ pricing
strategy.

29) A common mistake in pricing is ____________________.

30) The introduction of a new product to the market using market-penetration
pricing is most likely to be successful when _____________.

31) Belk is a chain of stores found primarily in southern United States. Each
store carries several product lines and each line is managed separately by a
specialist buyer or merchandiser. McRae’s offers many types of customer service
and its prices reflect that fact. Belk’s is an example of a ____________.

32) A concept in retailing that helps explain the emergence of new retailers is
called the ___________ hypothesis.

33) Which of the following is NOT one of the four levels of retail services
mentioned in the text?

34) Ayal and Zif argue that going into fewer countries is advisable when
___________.

35) Because of Coca-Cola’s size and power in the marketplace, they tend to
dominate some members in the channel. This allows them to require strong
cooperation from resellers who carry Coke products. This is an example of a(n)
_____________.
36) McDonald’s franchisees get a small discount when they pay their bills for
supplies within the first seven days (when the due date is 30 days after
delivery). This is an example of ___________ within channel relations.

37) Abercrombie & Fitch could use __________ advertising to reduce the
cognitive dissonance experienced by someone who recently purchased its brand of
high-fashion, high-priced clothing and wonders if they got the value for their
money.

38) Assume you are advertising very expensive authentic Turkish carpets to
upscale investors in Germany. Credibility and prestige are important. The best
medium for your advertising message is _____________.

39) Zhao is advertising her import-export business and wants to find the most
cost-effective way of delivering the desired number and types of message
exposures to her target audience. Zhao is considering her ________________.

40) Which of the following would NOT be considered part of a marketing
communications program?

41) __________________ are the means by which firms attempt to inform,
persuade, and remind customers about the products and brands they sell.

42) Which of the following is NOT a major mode of communications in the
marketing communications mix?

43) The computer _______________ consists of the manufacturers of computer
memory chips, monitors, keyboards, coaxial cables, modems, software, storage
systems (disks, hard drives, portable USB media), and those who install,
repair, and maintain systems and software.

44) Intel, one of the largest producers of integrated circuit chips, puts a
great deal of effort into expanding production of chips to drive down cost and
thus expand the market. This is most indicative of the __________ concept.

45) __________ marketing aims to build long-term, mutually satisfying
relationships with key partiescustomers, suppliers, distributorsin order to
earn and retain their long-term preference and business.

46) Which of the following is most closely associated with a proactive
marketing orientation?

47) Marketing __________ is the art and science of choosing target markets and
getting, keeping, and growing customers through creating, delivering, and
communicating superior customer value.

48) Communication of customer satisfaction results should be done internally
(inside the company or organization) for which of the following reasons?

49) 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 _____________.

50) 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.

51) 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 Jacuzzis in every room, filet mignon or lobster on the menu, and
afternoon teas for the new mothers and their families?

MKT
571 Final Exam1) When Molly’s parents retired,
they decided they wanted to travel. They found an ideal job that allows them to
travel for free, but the only catch is they have to stay at Holiday Inns.
During each stay, they test all the amenities offered by the motel and evaluate
each. The evaluation forms are sent to the motel headquarters where it becomes
part of the motel’s __________ systems.