14 Aug Directions: This examination consists of four sections: I through IV. Print or t

Directions: This examination consists of four sections: I through IV. Print or type clearly your response to each question. Unintelligible answers will be graded as incorrect. The total value is 100 points. Do your own work. Staple pages together.Indicate your full name and course section on your submission.Section I: Please select the best answer to complete each statement or question. Circle your response. Each item is valued at 2 points.1. Customers typically seek to satisfy a set of needs when evaluating a product or service offering. Using Maslows NeedsHierarchy theory as a reference, which of the following is an example of primary level need:a) Social acceptance c) Autonomyb) Status d) Hunger and Thirst2. Which of the following IS NOTpart of the marketing mix?a) Distribution c) Advertisingb) Packaging d) Competitors3. A marketers strategy to make its brand or company stand out from competitors offerings is called__________:a) Positioning c) SWOT Analysisb) Differentiation d) Situational Analysis4. The process used to break down a large group of potential, different customers into smaller groups havingsimilar characteristics is called ________________:a) Perception c) Competitive biddingb) Segmentation d) Convergence5. As discussed in class, this business philosophy is focused upon achieving the highest manufacturing output sothe unit cost is low:a) Sales orientation c) Social marketing conceptb) Production orientation d) Maximization6. A _______________ is a group of customers/potential customers having similar needs and characteristics:a) Population c) Cultureb) Reference group d) Segment7. One of the ways that we filter the stimuli around us is to pay attention to things that are interesting or important.This is called ________________________:a) Selective Absorption c) Perceptionb) Voluntary Stimuli Reception (VSR) d) Attention-Response Model8. Which of the following is not an example of a market research survey?a) Questionnaire c) Mall interceptb) Focus group d) Individual or group observation9. A ProActive Kiosk in a shopping mall is an example of how technology is changing marketing strategy. Thesemachines provide various ProActive branded products to customers on a 24/7 basis year round. This best reflects the________________ marketing mix variable.a) Price c) Placeb) Promotion d) Product10. When marketers use birth dates to distinguish among various groups of customers, it would be an example of _____________ segmentation.a) Behavioral c) Geographyb) Demographic d) Psychographic11. A marketer wishes to understand consumers opinions regarding one of its brands through an on-line questionnairethat uses words to identify various scaled responses. This type of questionnaire is called a ___________________.a) Delphi Technique c) Strong Scaleb) Nominal Differential Scale d) Likert Scale12. A market that does not change its purchasing level due to price fluctuations is described as being ___________ :a) Resilient c) Elasticb) Unresponsive d) Inelastic13. As discussed in class, which of the following Marketing Mix variables is most easily adjusted or changed __________?a) Product c) Placeb) Price d) Promotion14. What does Confidence Level describe when working with statistical research?a) Sampling validity c) Accuracy of the mathematical formulas usedb) Quality of inputs d) An international standard15. Another term describing undifferentiated target marketing is _______________:a) Niche marketing c) Concentrated targetingb) Mass marketing d) Social marketingSection II: Please indicate your response as T if the statement is correct or F if it is incorrect. Circle your choice.Each statement is valued at 2 points.1. A key element of the marketing concept is establishing long-term, mutually beneficial customer T or Frelationships.2. The marketing mix variables are controllable factors within an organizations marketing strategy. T or F3. Researchers have described needs as a basic force that motivates a person or group. T or F4. A market development strategy is used when organizations want to increase purchases from T or Fexisting customers.5. The demand for business products derives from the demand for final consumer products. T or F6. The marketing process functions whether or not exchange occurs. T or F7. As discussed in class, when an organization meets the minimum requirements established by law T or For customer expectation, this might be described as social responsibility.8. Primary data is information collected for another purpose that can be used for your research project. T or F9. When demand changes in relation to a change in price, we describe this as inelasticity. T or F10. For learning to occur, it must always result from direct experience. T or F11. Michael Jordans promotion of Nike brand products is an example of opinion leader influence T or Fon consumer spending.12.When the demand for one product affects demand for other business products, it is joint demand. T or F13. Test marketing is a type of primary Marketing research called Experimentation. T or F14. According to Maslows Theory, each level of unfulfilled need acts as a motivator for behavior. T or F15. Warranties and guarantees are effective ways to overcome cognitive dissonance in consumers. T or FSection III: Please answer each question or statement using the best selection from the alternatives provided. Each selection should be used once. Each item is valued at 2 points.Primary Competitive advantage Market PenetrationMarket Development Secondary Buying CenterObservation Diversification Experimentation or Experiential MethodSocial Responsibility Utility Marketing Concept or OrientationProduct Development New Task Routine (Habitual) Response1. U.S. Census information used for marketing purposes would be an example of _______________ data.2. A mechanical traffic counter, when used in a marketing research project, is an example of ___________________.3. A firm that seeks to develop new products/services for new customers and markets is using a _________________ ______________marketing strategy.4. Test marketing is an example of the _________________________ method of market research.5. The _________________________ seeks to satisfy customers needs and expectations while achieving profitability.6. Consumers follow the _____________________ decision-making process when purchasing convenience items such as carbonated beverages, snacks, newspapers, chewing gum, etc.7. A marketing strategy that is focused upon new markets and customers for existing products is called _________________.8. The value or benefit received through exchange is called ______________.9. _____________________ is the business decision process typically associated with consumption of products and services that arecostly and represent a significant risk to the purchaser.10. A group of individuals within an organization that is responsible for the purchase of goods orservices is typically described as a ____________________.Section IV:Please answer each question completely. Use the reverse side of the paper, if necessary. The value of eachquestion is shown in parentheses ().1: What is a Situational Analysis? Of what value is it to marketing effort? (5 pts.)2. Define the term Exchange. What five conditions are necessary for exchange to happen? (5 pts.)3. In the article, Marketing Myopia, author Ted Levitt argues that there are four conditions which hasten the decline ofany business or industry. What are they and what is their effect? Identify one growth company in our timethat might be vulnerable to one or more of these conditions. Why? (10 points)Indicate your full name and course section on your submission.Section I: Please select the best answer to complete each statement or question. Circle your response. Each item is valued at 2 points.1. Customers typically seek to satisfy a set of needs when evaluating a product or service offering. Using Maslows NeedsHierarchy theory as a reference, which of the following is an example of primary level need:a) Social acceptance c) Autonomyb) Status d) Hunger and Thirst2. Which of the following IS NOTpart of the marketing mix?a) Distribution c) Advertisingb) Packaging d) Competitors3. A marketers strategy to make its brand or company stand out from competitors offerings is called__________:a) Positioning c) SWOT Analysisb) Differentiation d) Situational Analysis4. The process used to break down a large group of potential, different customers into smaller groups havingsimilar characteristics is called ________________:a) Perception c) Competitive biddingb) Segmentation d) Convergence5. As discussed in class, this business philosophy is focused upon achieving the highest manufacturing output sothe unit cost is low:a) Sales orientation c) Social marketing conceptb) Production orientation d) Maximization6. A _______________ is a group of customers/potential customers having similar needs and characteristics:a) Population c) Cultureb) Reference group d) Segment7. One of the ways that we filter the stimuli around us is to pay attention to things that are interesting or important.This is called ________________________:a) Selective Absorption c) Perceptionb) Voluntary Stimuli Reception (VSR) d) Attention-Response Model8. Which of the following is not an example of a market research survey?a) Questionnaire c) Mall interceptb) Focus group d) Individual or group observation9. A ProActive Kiosk in a shopping mall is an example of how technology is changing marketing strategy. Thesemachines provide various ProActive branded products to customers on a 24/7 basis year round. This best reflects the________________ marketing mix variable.a) Price c) Placeb) Promotion d) Product10. When marketers use birth dates to distinguish among various groups of customers, it would be an example of _____________ segmentation.a) Behavioral c) Geographyb) Demographic d) Psychographic11. A marketer wishes to understand consumers opinions regarding one of its brands through an on-line questionnairethat uses words to identify various scaled responses. This type of questionnaire is called a ___________________.a) Delphi Technique c) Strong Scaleb) Nominal Differential Scale d) Likert Scale12. A market that does not change its purchasing level due to price fluctuations is described as being ___________ :a) Resilient c) Elasticb) Unresponsive d) Inelastic13. As discussed in class, which of the following Marketing Mix variables is most easily adjusted or changed __________?a) Product c) Placeb) Price d) Promotion14. What does Confidence Level describe when working with statistical research?a) Sampling validity c) Accuracy of the mathematical formulas usedb) Quality of inputs d) An international standard15. Another term describing undifferentiated target marketing is _______________:a) Niche marketing c) Concentrated targetingb) Mass marketing d) Social marketingSection II: Please indicate your response as T if the statement is correct or F if it is incorrect. Circle your choice.Each statement is valued at 2 points.1. A key element of the marketing concept is establishing long-term, mutually beneficial customer T or Frelationships.2. The marketing mix variables are controllable factors within an organizations marketing strategy. T or F3. Researchers have described needs as a basic force that motivates a person or group. T or F4. A market development strategy is used when organizations want to increase purchases from T or Fexisting customers.5. The demand for business products derives from the demand for final consumer products. T or F6. The marketing process functions whether or not exchange occurs. T or F7. As discussed in class, when an organization meets the minimum requirements established by law T or For customer expectation, this might be described as social responsibility.8. Primary data is information collected for another purpose that can be used for your research project. T or F9. When demand changes in relation to a change in price, we describe this as inelasticity. T or F10. For learning to occur, it must always result from direct experience. T or F11. Michael Jordans promotion of Nike brand products is an example of opinion leader influence T or Fon consumer spending.12.When the demand for one product affects demand for other business products, it is joint demand. T or F13. Test marketing is a type of primary Marketing research called Experimentation. T or F14. According to Maslows Theory, each level of unfulfilled need acts as a motivator for behavior. T or F15. Warranties and guarantees are effective ways to overcome cognitive dissonance in consumers. T or FSection III: Please answer each question or statement using the best selection from the alternatives provided. Each selection should be used once. Each item is valued at 2 points.Primary Competitive advantage Market PenetrationMarket Development Secondary Buying CenterObservation Diversification Experimentation or Experiential MethodSocial Responsibility Utility Marketing Concept or OrientationProduct Development New Task Routine (Habitual) Response1. U.S. Census information used for marketing purposes would be an example of _______________ data.2. A mechanical traffic counter, when used in a marketing research project, is an example of ___________________.3. A firm that seeks to develop new products/services for new customers and markets is using a _________________ ______________marketing strategy.4. Test marketing is an example of the _________________________ method of market research.5. The _________________________ seeks to satisfy customers needs and expectations while achieving profitability.6. Consumers follow the _____________________ decision-making process when purchasing convenience items such as carbonated beverages, snacks, newspapers, chewing gum, etc.7. A marketing strategy that is focused upon new markets and customers for existing products is called _________________.8. The value or benefit received through exchange is called ______________.9. _____________________ is the business decision process typically associated with consumption of products and services that arecostly and represent a significant risk to the purchaser.10. A group of individuals within an organization that is responsible for the purchase of goods orservices is typically described as a ____________________.Section IV:Please answer each question completely. Use the reverse side of the paper, if necessary. The value of eachquestion is shown in parentheses ().1: What is a Situational Analysis? Of what value is it to marketing effort? (5 pts.)2. Define the term Exchange. What five conditions are necessary for exchange to happen? (5 pts.)3. In the article, Marketing Myopia, author Ted Levitt argues that there are four conditions which hasten the decline ofany business or industry. What are they and what is their effect? Identify one growth company in our timethat might be vulnerable to one or more of these conditions. Why? (10 points)

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