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TAMUC MKT521 midterm exam




Question;Multiple Choice - 20;questions (40 pts.);Choose the appropriate answer.;Question 1.1.In which of the;external environments changes usually occur most slowly?(Points: 2);Cultural and;social environmentPolitical and;legal environments Resources and;objectives of the firm Competitive;environmentEconomic and technological;environments;Question 2.2.;Jersey;G. wanted to start a decorating business. She identified several;possible target markets, but decided to serve a market composed of;recently married couples that owned their first home. Jersey appears;to be following ____________.;(Points: 2);mass marketingmultiple target;marketcombined target;marketsingle target;marketAll of the above.;Question 3.3.MICRO-marketing;effectiveness can be measured by ______________. (Points: 2);the profits of business firmsthe opinions of;intermediariesconsumer complaintsattitude research studiesAll of these are good;measurements for MICRO-marketing.;Question 4.4.Mickey and Minnie;Jones are preparing to purchase a new car. He currently has a Toyota;Camry and she has a Honda Accord. They now have two children under age 5;so they plan to trade in Minnie's car to purchase a minivan. Mickey;and Minnie decided on a Honda Odyssey because Minnie is;familiar with Hondas and thinks they are very reliable. In this purchase;situation, Mickey and Minnie's family life cycle stage is a;segmenting dimension, and the benefit Minnie seeks;(reliability) is a _____________ segmenting dimension.;(Points: 2);geographic;demographic demographic;behavioralgeographic;behavioral demographic;geographicbehavioral;demographic;Question 5.5.Which of the following;observations concerning planning strategies for international markets is;false? (Points: 2);A marketing manager should;know that relying on intuition or personal experience may be misleading.A marketing manager should;know that understanding local cultural differences is of no real value.A marketing manager should;know that consumers in a foreign culture are probably bound by some similar;cultural forces.A marketing manager should;involve locals who have a better chance of understanding the interests of;customers. A marketing manager should;understand that many specific influences do not generalize from one culture;to another.;Question 6.6.A producer of;electrical components combined electrical supply wholesalers and;manufacturers of electrical equipment into the same market segment, one;of several segments it was targeting. Soon it lost the manufacturers;business to a competitor. It seems that the firm failed to consider the;risk of ______________________.;(Points: 2);too much;aggregatinginsulting the;manufacturers by putting them in the same market segment with the;wholesalerspicking market;segments based on qualifying dimensionsselecting market;segments that were not substantialusing too many;segmenting dimensions.;Question 7.7.Which of the;following statements best describes the modern view of marketing? (Points: 2);The job of;marketing is to sell whatever the company is producing.Marketing begins;with anticipating potential customer needs.Marketing should;take over production, accounting, and financial services within a firm.Marketing is;concerned with generating a single exchange between a firm and a customer.Production, not;marketing, should determine what goods and services are to be developed.;Question 8.8.;From the;perspective of macro-marketing, e-commerce specialists CarFax (which;provides vehicle history reports) and (a website offering auto;comparison shopping) have emerged within the auto industry because;(Points: 2);auto manufacturers need to;sell direct to consumersthe market needs;competitive rivals to auto dealershipsthe information they provide;makes the exchange process between producers and consumers more efficient;and effectivethe role of the;automotive sales person is becoming obsoleteconsumers live far distances;from most automotive plants;Question 9.9.;A marketing;manager should __________________.;(Points: 2);know that most;consumer complaints do not require a response because the consumer's;dissatisfaction is beyond the control of the firmbe concerned that;many of the complaints that are reported are never resolvedrecognize that;many consumers who complain are trouble makers and that not much can or;should be done about their complaintsassume that most;customers who are dissatisfied will complain, but that people who are;satisfied will be silentrecognize that a;complaint" box isn't needed if the firm is really;market-oriented in the first place;Question 10.10.When listening to music on;the radio, many consumers automatically switch stations when commercials;begin to run, and they search until they find another station that is;playing music. This tendency is an example of _____________. (Points: 2);selective exposureselective perceptionselective retentionselective learningselective reception;Question 11.11.Prince wants to design;a necklace he would like to give his girlfriend, Charming. Lately;though, he has noticed that he is constantly "designing;the piece in his head. At times, he even dreams about the finished;work. Prince is probably going through _________ behavior. (Points: 2);compulsivecreativesubliminalimpulsiverational;Question 12.12.A marketing analyst for a;chicken processor reports that a rising percentage of people are eating;chicken because it has less fat than beef. Clearly, this firm's;opportunities may improve with this change in the ______________.;(Points: 2);technological environmentcultural and social;environment economic environmentpolitical and legal;environmentcompetitive environment;Question 13.13.The marketing management;team for TAMUC Motors brainstormed a variety of solutions to the;problem of how to transport people in the world. This process came during;the __________ step in the market segmentation process.;(Points: 2);disaggregatingmarket definitionsegmentingaggregatingapproach selection;Question 14.14.An emphasis on;a single country's interests before everything else is known as;(Points: 2);socialismdemocracycapitalismnationalismentrepreneurship;Question 15.15.When you are;in the market" for a new car, and are considering different;brands to purchase, what type of market is involved? (Points: 2);Product-marketQualifying marketGeneric marketDetermining;marketNone of the above are;true.;Question 16.16.A national restaurant chain;encourages its customers to use its website as a means of providing;comments about their experiences at the chain's locations. This website;is one way of measuring _______________. (Points: 2);macro-marketing;effectivenessthe effectiveness;of competitionemployee;empowermentmicro-marketing;effectivenessAll of these;alternatives are correct.;Question 17.17.Which of the;following would be the most difficult task facing a marketing manager?(Points: 2);Discover the;attitudes of the firm's target market.Create new;attitudes toward his or her brand.Promote existing;attitudes.Change existing;negative attitudes.Strengthen existing positive;attitudes.;Question 18.18.Which of the following;statements about marketing is FALSE?;(Points: 2);Marketing affects;the products you buy.Marketing applies to;nonprofit organizations too. Marketing affects the;advertising you see and hear.Marketing offers many good;job opportunities.Marketing can help with;individual transactions but not in building relationships with customers.;Question 19.19.Kim, a new salesperson for;Basketball Foods, wants to call her ex-boyfriend Chris, another;salesperson for Basketball Foods using the company provided cell;phone. She is hoping to rekindle their past relationship. However;Kim knows that there is a strict company policy against using;company equipment for personal use. But Kim also knows that no one checks;the phone log for calls. This relates to __________ as an influence;in ethical decision making. (Points;2);individual value systemopportunityorganizational relationshipsinsubordinationexternal punishment;Question 20.20.Good marketing;managers know that ________________________. (Points: 2);marketing strategies can't;influence consumer "wants"marketers can't create;internal drives in consumersit is not that;difficult to develop a marketing strategy that gets consumers to do what;they don't want to doNone of these alternatives is;correct.All of the above are true.;True/False Section -;10 questions (20 pts.);Indicate if the following statements are True;or False.;Question 1.1.Managers are;now applying a new screening criteria, sustainability, that reinforces;the importance of meeting present needs without compromising the ability;of future generations to meet their own needs.;(Points: 2);True False;Question 2.2.The;continuum of environmental sensitivity" suggests that;industrial products are more sensitive to the cultural environments in;which they are placed than high-style consumer products. (Points: 2);True False;Question 3.3.Estimating what;price consumers are willing to pay for a product and if the firm can make;a profit selling at that price, is an example of a production activity. (Points: 2);True False;Question 4.4.The legal;environment sets the maximum standards of ethical behavior in a society. (Points: 2);True False;Question 5.5.Nike moved;beyond shoes and sportswear to offer its athletic target market a running;watch, digital audio player, and even a portable heart-rate monitor. This;is an example of a market development strategy. (Points: 2);True False;Question 6.6.A firm usually;has different strategy possibilities that it can pursue, so it must use;screening criteria to help eliminate those strategies not well-suited to;the firm. (Points: 2);True False;Question 7.7.Because almost;all of the world's population can read and write, international marketers;have no problems in communicating with potential customers no matter;where they live.;(Points: 2);True False;Question 8.8.Unfavorable;trends in the domestic marketing environment may make the international;marketing environment very attractive. (Points: 2);True False;Question 9.9.Qualifying;dimensions are those that actually affect the customer's purchase of a;specific brand in a product-market. (Points;2);True False;Question 10.10.A firm involved;in international marketing should pay even more attention to segmenting;than a firm that sells only in the United States. (Points;2);True False;Essay Section - 4;questions (40 pts.);Answer the following essay questions. Be as;thorough as possible. Remember that this is a graduate level course;and expectations are as such.;Question 1.1.The first part of this MKT 521 course (Chaps.;1, 20, 2, 3, 4, 5) focused on understanding the target customer.;Discuss the importance of this in relation to differentiation and;positioning. (Points: 10);Question 2.2.Explain how a SWOT analysis;can direct a company's R & D (research & development) efforts;to create new products. (Points;10);Question 3Discuss the;concept of segmentation within the context of the automotive industry in;the US. That is, explain how segmentation is used by the automotive;industry.(Points: 10);Question 4.4.Briefly discuss the 2 approaches to consumer;behavior. (Points: 10)


Paper#46530 | Written in 18-Jul-2015

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