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Devry BUSN319 final exam




Final Exam;Question 1.1. (TCO 4) Three commonly used methods of evaluating marketing programs are marketing metrics, marketing dashboards, and (Points: 5);marginal analysis.;marketing audits.;marketing ROI.;marginal analysis.;marketing control boards.;Question 2.2. (TCO 1) Ideally in effective marketing planning, goals should be _____ in terms of what is to be accomplished and when. (Points: 5);loose and vague;as general as possible;flexible or elastic;quantified and measurable;None of the above;Question 3.3. (TCO 3) Which marketing strategy involves retaining focus on a single product line but marketing it to new markets? (Points: 5);Full coverage;Market specialization;Product specialization;Selective specialization;Market-product concentration;Question 4.4. (TCO 1) Based on relative competitive scope (broad target to narrow target) and source of competitive advantage (lower cost to differentiation), Porter's four generic business strategies are cost leadership, cost focus, differentiation focus, and (Points: 5);service leadership.;diversification.;reaction.;differentiation.;quality focus.;Question 5.5. (TCO 2) Which of the following pieces of information is used in the implementation phase of the strategic marketing process? (Points: 5);Corporate return on investment;Marketing research reports;Revenues associated with each point of market share;Trends in past and current revenues for industry and competitors in total and by segment;Possible cannibalization effects on other products in the line;Question 6.6. (TCO 6) Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process? (Points: 5);Corporate return on investment;Market share for the product;Revenues associated with each point of market share;Projection of future sales, expenses, and profits;Possible cannibalization effects on other products in the line;Question 7.7. (TCO 3) When developing the advertising program, which step helps advertisers with other choices in the process, such as selecting media and evaluating a campaign? (Points: 5);Identify the target audience;Specify the advertising objectives;Design the advertising;Pretest the advertising;Schedule the advertising program;Question 8.8. (TCO 2) The proper blend of elements in the promotional mix depends on the type of product. The three specific characteristics to be considered are complexity, _____, and ancillary services. (Points: 5);risk;size;durability;accessibility;acceptability;Question 9.9. (TCO 4) The promotional objective of the decline stage of the product life cycle is to (Points: 5);inform.;persuade.;compare.;remind.;None of the above;Question 10.10. (TCO 2) The _____ can be used to inform prospective buyers about the benefits of the product. (Points: 5);promotion channel;communication chain;marketing matrix;promotional mix;media mix;Question 11.11. (TCO 8) Which of the following statements about the terms used for marketing intermediaries is true? (Points: 5);The least precise terms used to describe marketing intermediaries are dealer and distributor.;A retailer sells to business markets.;An agent has no legal authority to act on behalf of a manufacturer.;A wholesaler is an intermediary who sells to consumers.;Broker is a synonym for a dealer.;Question 12.12. (TCO 7) Which of the following statements about the legal and regulatory aspect of pricing is true? (Points: 5);The Robinson-Patman Act deals with predatory pricing.;The Consumer Goods Pricing Act is the only federal legislation that deals directly with pricing issues.;The Sherman Act deals only with vertical price fixing.;The Federal Trade Commission Act deals with predatory pricing, deceptive pricing, and geographical pricing issues.;The Consumer Goods Pricing Act and the Robinson-Patman Act deal with price discrimination.;Question 13.13. (TCO 2) Which of the following is NOT one of the six major pricing objectives? (Points: 5);Profit;Unit volume;Breakeven;Survival;Market share;Question 14.14. (TCO 3) The ratio of _____ to price is called value. (Points: 5);perceived benefits;prestige value;value-added pricing;perceived revenue;perceived costs;Question 15.15. (TCO 6) Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is called (Points: 5);consumer differentiation.;psychographics.;market segmentation.;market delineation.;aggregation marketing.;Question 16.16. (TCO 5) The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called (Points: 5);environmental trending.;organizational scanning.;environmental scanning.;a SWOT analysis.;acquisition scanning.;Question 17.17. (TCO 1) A key role of the marketing department is to (Points: 5);allocate financial resources across business units.;set the overall mission of the company.;provide talent management services.;look outward.;assess global political situations.;Question 18.18. (TCO 1) Which of the following acts as a barrier to the development of relationship marketing? (Points: 5);Changes in the demographic nature of society;The ever-increasing usage of the Internet for consumer purchases;The onset of new cultural traditions;A population with a median age of 50;Recent terrorism activities;Question 19.19. (TCO 1) The Daniels College of Business at the University of Denver offers an outstanding business school education. Cali pays the tuition to attend Daniels and earns her MBA with a concentration in supply chain management. Upon graduating, she is offered a high-paying, fulfilling position. Was this a marketing exchange? (Points: 5);No, because the university is a private one;Yes, because the university is profitable;Yes, because paying tuition was exchanged for knowledge that directly led to Cali's fulfilling, new job;No, because money was exchanged;No, because the school did not provide Cali with a product;Question 20.20. (TCO 6) Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese. Some versions contain Capri Sun drinks. Others are called Cracker Stackers and Fun Fuel. The box is bright yellow and the quantity of food contained within is small. The target market for Kraft Lunchables is most likely (Points: 5);moms of school-aged children.;business people looking for a quick snack.;business travelers.;teenagers.;seniors.;Question 21.21. (TCO 3) The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products it markets. Concern about the _____ element of the marketing mix would make it eager to be featured in an upcoming edition of Taste of Home magazine. (Points: 5);product;price;promotion;place;production;Question 22.22. (TCO 5) More magazine is a publication designed to appeal to women over the age of 40. Demand for such magazines is an example of how _____ forces impact the marketing environment. (Points: 5);economic;competitive;technology;social;regulatory;Question 23.23. (TCO 7) In 1998, F. Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plotting to raise and fix prices of vitamins used in virtually every home in the United States. This is an example of how _____ forces affect the marketing environment. (Points: 5);economic;ecological;technological;social;regulatory;Question 24.24. (TCO 6) Graham-Field Health Products makes hospital beds and wheelchairs from component parts and materials it buys. It sells its products to hospitals, nursing homes, and retailers of healthcare products. Graham-Field Health Products operates in a(n) _____ market. (Points: 5);consumer;government;industrial;reseller;demographic;Question 25.25. (TCO 1) Several years ago, SwissAir made some unwise investments to pay for a planned expansion. As a result, the company had to make some cost-cutting moves that alienated its customers. Eventually the company declared bankruptcy, regrouped, and found itself able to resume business. Its board of directors recently announced that the company would like to resume flying. Before resuming flying, SwissAir needed to determine what percentage of its former customers it could expect to return to the airline. If not enough former customers were willing to use SwissAir again, the resumption of flights would not be profitable. The determination of the percentage of returning patrons that would be needed to resume operation is an example of a (Points: 5);research risk.;research objective.;research uncertainty.;research decision.;research definition.;Question 26.26. (TCO 3) The Belsen interview is a means of pretesting media surveys. It gathers facts and figures by asking people about their attitudes, beliefs, and awareness of various media. With this technique, the respondent is interviewed twice, first by an interviewer using the proposed survey and then by a different interviewer, who asks questions about the survey itself. The Belsen interview uses _____ data. (Points: 5);observational;secondary;intercept;questionnaire;synergistic;Question 27.27. (TCO 4) A 3M researcher worked with university students to develop the Post-it Flag Highlighter. His team evaluated the technical feasibility of the proposed design and whether the idea met the new-product objectives. In which stage of the new-product process was this product? (Points: 5);Idea generation;Screening and evaluation;Business analysis;New-product strategy development;Concept testing;Question 28.28. (TCO 4) In the 1960s, television westerns were extremely popular. The shows were adventure shows with settings and costumes that were very unlike what really existed. There were Bonanza, Wagon Train, The Virginian, Laramie, and so on. When viewers gradually stopped watching this category of programs, production companies found that the networks no longer wanted to televise such shows. The television western as a product category entered the _____ stage. (Points: 5);decay;diversification;decline;maturity;harvesting;Question 29.29. (TCO 8) Schwan's Sales Enterprises of Marshall, MN, markets a full line of frozen foods in 49 states and parts of Canada, using door-to-door salespeople who sell from refrigerated trucks. This particular method of distribution is called a (Points: 5);direct channel.;indirect channel.;facilitated channel.;customer-service channel.;truck-jobber channel.;Question 30.30. (TCO 2) Disney is using an integrated marketing communications program (IMC) to promote group travel to its theme parks, because (Points: 5);its strategy includes using all types of promotional activities that deliver a consistent message.;it does not want to reach any member of its target audience more than once.;IMC is less expensive than other forms of promotion, such as public service announcements.;if it didn't, Disney would have to use indirect personal selling.;it is more concerned about frequency than reach.;Question 31.31. (TCO 2) The local radio station broadcast a story about the dry cleaners that requested coat donations. They would clean the coats and deliver them to people in need. The various addresses of the dry cleaner chain were also broadcast so that donations could be dropped off. Because this featured business did not pay for this exposure, it is benefiting from (Points: 5);publicity.;advertising.;direct marketing.;personal selling.;a public service announcement.;Question 32.32. (TCO 8) For several years, advertisements for Arm & Hammer Baking Soda have prompted consumers to place an opened box of the product in the refrigerator to lessen food odor and to replace that box monthly. The same ads advise customers to pour the used box down their kitchen sinks to freshen drains. Arm & Hammer employed a _____ strategy in its attempt to sell more baking soda. (Points: 5);market penetration;market development;product development;diversification;product penetration;Question 33. 33. (TCO 3) Imagine that you are creating a marketing plan for a company that will sell kites. As you consider the marketing program, what types of strategy should you consider including in the plan? Propose one specific example of each type of strategy that you are considering, and present your rationale (reasoning) for your strategy selections. (Points: 30);Question 34. 34. (TCO 1) In China, many people are removing their money from the state banks and lending it out themselves. The interest rate earned in a state bank account is about one half the rate of inflation. On the other hand, loaning money to friends, relatives, and even unrelated entrepreneurs can often earn the investor double or more over the inflation rate. The gray market, an underground network of investors and private businesses, moves the cash from lenders to businesses. Judge whether marketing occurred in this situation, and justify your conclusions. Appraise the effectiveness of government regulation in controlling markets. (Points: 30);Question 35. 35. (TCO 4) Managing the product through successive stages of the product life cycle is an important role for a product manager. Assess the three ways to manage a product through its life cycle, including examples to help clarify your assessment. Indicate the reasoning why you would prefer one method over another in a given situation. You can use any product in your examples. (Points: 30)


Paper#25197 | Written in 18-Jul-2015

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