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MKT/571 MKT 571 MKT571 FINAL EXAMINATION LATEST

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Question;1. Another basis for decision-making is referred to;as;ethical practices;ethical dilemmas;situational ethics;correct ethics;2. New-to-the-world products are ________.;existing products that are targeted to new geographical markets;new product enhancements that supplement established products;low-cost products designed to obtain an edge in highly competitive markets;new products that create an entirely new market;3. A company can learn a great deal by analyzing the degrees of brand loyalty.;For example, ________ can show the firm which brands are most competitive with;its own.;switchers;hard-core loyals;split loyals;shifting loyals;4. Marketers need to identify the hierarchy of attributes that guide consumer;decision making in order to understand different competitive forces and how;these various sets get formed. This process of identifying the hierarchy is;called ________.;market partitioning;brand association;market valuation;market estimation;5. ABC Technology is nearing completion on their product and market research;has discovered a competitor is also close to launching a similar product. ABC;has decided launch before their competition, this is called ________.;early entry;parallel entry;first entry;late entry;6. Which of the following is a strategy that uses the manufacturer?s sales;force, trade promotion money, or other means to induce intermediaries to carry;promote, and sell the product to end users?;Pull strategy;Lock strategy;Strategic plan;Push strategy;7. A music school in Boyles Height, LA, specializes in teaching the guitar and;the violin. After a spurt in growth and a few successful years, the school is;experiencing a slowdown in sales and stability in its profits due to an;increase in competition. The school is in the ________ stage of its life cycle.;obsolescence;growth;Maturity;Decline;8. What type of strategy consists of geographical pricing, price discounts and;allowances, promotional pricing, and differentiated pricing?;Altered pricing;Price adaptation;Fixed pricing;Regular prices;9. 2 Wheels conducts exhaustive customer surveys to discover customer;preferences and attitudes towards the brand. Sally uses cluster analysis to;classify the data and help the company determine the trends in the information.;Sally is using the technique of ________.;data governance;data marketing;data accumulation;data mining;10. Which method identifies the effect sponsorship has on consumers brand;knowledge?;Demand-side method;Positioning method;Supply-side method;Pricing method;11. Through its cutting-edge point-of-sale inventory, management technology;and highly efficient shipping practices, Wal-Mart is able to keep its inventory;expenditure extremely low and to pass these savings on to consumers in the form;of low prices. Wal-Mart's strategy is best described as ________.;overall cost leadership;market development;differentiation;integrative growth;12. Prestige LLC, a small company that manufactures specialty cereals and;energy bars, wants to launch a "green marketing" program in response;to heightened consumer awareness about environmental issues. What should the;company do to maximize the program's chances of being successful?;Demonstrate that the products will benefit both customers and the society in;the long-term.;Focus on the efforts and costs incurred by the company to bring these;green" products to consumers.;Explain the rules and regulations laid out by governmental agencies to protect;the environment.;Emphasize benefits to the consumer rather than environmental benefits.;13. The marketing manager needs to know the cost of the research project before;approving it. During which stage of the marketing research process would such a;consideration most likely take place?;Step 5 ? drafting the report;Step 4 ? analyzing the information;Step 2 ? developing the research plan;Step 1 ? defining the problem;14. What is the perceived monetary value of the bundle of economic, functional;and psychological benefits customers expect from a given market offering;because of the product, service, people, and image?;Total customer benefit;Complete marketing benefit;Ultimate service benefit;Total management benefit;15. The effect of exposures on audience awareness depends on the following three;factors;distance, timing, and focus;space, communication, and advertisements;height, length, and width;reach, frequency, and impact;16. Which of the following can induce a firm to expand into the international;arena?;Cater to a domestic mass market;A saturated foreign market;High income level of domestic consumers;A saturated domestic market;17. What are the four characteristics of a marketing audit?;Comprehensive, systematic, independent, and periodic;Announced, semi-annually, dependent, and perpetual;Simple, unique, randomly, and exclusive;Dependent, non-comprehensive, quarterly, and unannounced;18. With ________ as a target market strategy, the firm concentrates on serving;many needs of a particular customer group.;single-segment concentration;market specialization;selective specialization;product specialization;19. Which component of a marketing audit includes major developments in income;prices, savings, and credit that affect the company?;Technological;Political;Cultural;Economic;20. A firm must know where to position its product based on price and ________.;communication;promotional efforts;quality;Region;21. If the Ford GT is designed to accelerate to 50 miles per hour within 10;seconds, and every Ford GT coming off the assembly line does this, the model is;said to have high ________.;conformance quality;durability;compatibility;interoperability;22. What can enhance the value of Web-based shopping experiences to serve as;personal shopping assistants or Web-site guides?;E-mail;Tablets;Avatars;Smartphones;23. Marketers must see themselves as benefit providers. For example, when a;shopper purchases new shoes, he or she expects the shoes to cover his or her;feet and allow him or her to walk unobstructed. This is an example of what;level in the consumer-value hierarchy?;Basic product;Core benefit;Pure tangible product;Potential benefit;24. Which control should periodically reassess its approach to the marketplace;with a good marketing audit?;Ethical control;Performance control;Marketing control;Strategic control;25. BMW's "The ultimate driving machine," American Express;Don't leave home without it," New York Times' "All the news;that's fit to print," and AT&T's "Reach out and touch;someone" are all examples of ________.;brand vision;brand slogan;brand mission;brand personality;26. _______ is an approach that considers different ethnic and cultural;segments require targeted marketing campaigns and tactics.;Diversity marketing;Specialized marketing;Ethnic-based marketing;Multicultural marketing;27. The three guidelines for anticipating management reactions are (1) prior to;the crisis during normal day-to day operations, (2) at the moment some event;triggers the crisis, and (3) during the crisis situation that triggers the;event. These guidelines are the stages for ________.;problem-solving;decision making;provoking solutions;crisis management;28. What type of control focuses on measuring a company?s products territories;customer groups, segments, trade channels, and order sizes to help expand or;eliminate any products or marketing activities?;Activity;Efficiency;Profitability;Solvency;29. The ability to meet humanity?s needs without harming future generations is;now a top priority in most corporate agenda________.;righteousness;sustainability;rules;ethics;30. A social definition of marketing says ______.;effective marketing requires companies to remove intermediaries to achieve a;closer connection with direct consumers;marketing is the process by which individuals and groups obtain what they need;and want through creating, offering, and freely exchanging products and;services of value with others;a company should focus exclusively on achieving high production efficiency, low;costs, and mass distribution to facilitate the broadest possible access to the;company?s products;marketing is the process of extracting maximum value from consumers to;facilitate corporate growth

 

Paper#46481 | Written in 18-Jul-2015

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