Details of this Paper

TAMUC MKT521 Final exam




Question;Part 1: Multiple Choice (2 pts. each);Choose the correct/best answer.;Question 1.1. When Chase Bank mails a 30-day offer for a new;pre-approved credit card with a $2,000 limit to a college student, this is an;example of ___________.;(Points: 2);direct-response;promotion;integration;publicity;indirect-response;promotion;mass selling;Question 2.2.;A flexible-price policy is most likely to be set by a;retailer selling ____________.;(Points: 2);milk;luxury purse;like Louis Vuitton;warranty;contract;cars;women's shoes;Question 3.3. Which of the following statements might result;from a performance analysis? (Points: 2);Star Dancing's;sales are over her quota.;Kim Kard sold;more aluminum tubing than steel tubing.;Oscar Award;sold less tubing to wholesalers than to manufacturers.;Lucky Charm;calls on two of our three biggest customers.;Our top New;Jersey sales person sold more aluminum tubing than any of our other sales;representatives.;Question 4.4. Most airlines try to get business travelers or;the "cream" of a market (i.e., the top of a demand curve) at a high;price before aiming at the more price-sensitive customers. This is consistent;with a(an) ____________. (Points: 2);Flexible-price;policy;Sales-oriented;pricing policy;Skimming;pricing policy;Introductory;price dealing policy;Penetration;pricing policy;Question 5.5. Averages are useful for summarizing data but;only analyzing "averages" may be misleading according to;(Points: 2);the;iceberg principle;AIDA;80/20" rule;hypothesis-testing theory;the;50/50" rule;Question 6.6. Channel systems in which the various channel;members make little or no effort to cooperate with each other are called;systems.;(Points: 2);traditional;channel;vertically;integrated;direct-to-customer channel;franchising;administered;channel;Question 7.7. Branding is good for some consumers because it;(Points: 2);makes shopping;easier;provides;dependable guides to product quality;helps assure;regular satisfaction;connects the;product with the benefits the consumer expects;All of these;alternatives are correct.;Question 8.8. Josh Adams runs a large cattle farm in Texas.;In order to take advantage of higher prices for beef in Europe compared to the;United States, he has started selling cattle overseas by using an agent;wholesaler who specializes in finding European customers for U. S. firms. He;ships the cattle to Europe by water transport. Josh is involved in _________.;(Points: 2);Exporting;Management;contracting;Licensing;Joint venturing;None of the;above.;Question 9.9. When developing a good promotion blend, a;marketing manager should ____________.;(Points: 2);be more;concerned with persuading the target customers than informing or reminding;determine who;the firm is trying to influence;realize that;the right blend depends more on what customers expect than on what the firm;wants to accomplish;All of the;above are true.;None of the;above are true.;Question 10.10. For dieters, the highest quality potato;chips are probably ______________. (Points: 2);chips made from;all natural ingredients;chips with the;best flavor;Gourmet Cape;Cod Kettle Chips;chips that are;low in fat and calories;any low-cost;potato chip brand;Question 11.11.;Which of the following do firms using value pricing tend to;avoid?;(Points: 2);Setting a high;price only because consumers already know the brand name.;Building a relationship;with a customer which raises their expectations.;Delivering;unexpected services which haven't been stated to the customer.;Establishing a;price level that gives the target market superior customer value.;Focusing on;customer requirements and adopting a relevant marketing mix.;Question 12.12. Godiva, a maker of expensive European;chocolates, does not mention price in its magazine advertising. Instead, the ad;copy mentions the quality of the ingredients, the fine packaging, and the;luxurious boutiques where Godiva chocolates are sold. Godiva seems to be;pursuing a pricing objective of ______________. (Points: 2);meeting;competition;nonprice;competition;target return;growth in;market share;None of the;above.;Question 13.13. Dec Ember Co. manufactures and sells tea;coffee, cosmetics, shoes, and sporting goods - all under the Dec Ember brand;name. These products are ___________.;(Points: 2);the firm's;product line;generic;products;dealer brands;sold with a;family brand;specialty;products;Question 14.14.;With the "contribution-margin approach" to;marketing cost analysis, ___________.;(Points: 2);all costs are;allocated to products, customers or other categories;fixed costs are;allocated based on the profit contribution to the firm;variable costs;are treated as common costs;common costs;which are hard to allocate are ignored;None of the;above.;Question 15.15. Which of the following statements;illustrates the 80/20 rule? (Points: 2);80;percent of our target market doesn't respond to our marketing mix, and we only;have a 20 percent market share.;Of the;hundred retailers who carry our products, the top twenty account for nearly 80;percent of our total business.;20;percent of our marketing effort is wasted, but we don't know which 20;percent.;We don't;know whether our profits are 20 percent higher than we deserve, or only 80;percent of what might be easily obtained.;None of the;above.;Question 16.16. Sales of a producer's wax paper food-wrap;are declining fast. The advertising manager?looking for a way to attract;attention to the brand?suggests changing the package somewhat and promoting it;as a "new" product. The Federal Trade Commission ___________________.;(Points: 2);would allow the;company to call the product "new" for only six months;would not;approve of this at all;would allow the;advertising campaign if it concluded that consumers thought the different;package made it new;does not;regulate advertising, so it would not pay any attention to this firm;None of these;alternatives is correct.;Question 17.17. A computer software company sent three;computer magazines some information about the latest release of its popular;software program. One of the magazines printed a story about the new version.;This is an example of ________. (Points: 2);personal;selling;advertising;publicity;sales promotion;None of these;is a good answer.;Question 18.18. The CBS network offers consumers hundreds of;hours of television viewing each month, but the typical consumer wants to watch;only a few programs. What type of discrepancy does this create? (Points: 2);Discrepancy of;assortment;Discrepancy of;quality;Discrepancy of;image;Discrepancy of;variety;Discrepancy of;quantity;Question 19.19. Which of the following does not relate to;how control helps marketing managers learn? (Points: 2);Control helps;to plan for the future.;Control helps;suggest which positions to eliminate.;Control helps to understand if;implementation is working.;Control helps;to evaluate if ongoing plans are working.;All of the;above applies to the functions of control.;Question 20.20.;Kelly Drake, marketing manager for Find-Ur-Way global;positioning systems, is testing the marketing mix for one of her company's new;products. The product was introduced in two different markets with different;prices and packages. This suggests the new product was in the _________ step of;the new-product development process.;(Points: 2);commercialization;idea generation;development;screening;idea evaluation;Part 2: True/False (2 pts. each);Answer whether the following statement is true or false.;Question 1.1. How quickly a new product will be accepted by;customers and how quickly competitors will follow with their own version of a;product are important factors when planning the best strategy for a new;product. (Points: 2);True;False;Question 2.2. Because too much sales data can drown a;manager, it's best to start by asking only for breakdowns that involve customer;type. (Points: 2);True;False;Question 3.3. In comparison with other promotion methods;sales promotion can neither be implemented quickly nor get results quickly.;(Points: 2);True;False;Question 4.4. Marketing audits consider future marketing;plans, so they are not concerned with a company's current marketing;strategies. (Points: 2);True;False;Question 5.5. Some firms are forced to use direct;distribution when they can't find intermediaries willing to carry innovative;new products. (Points: 2);True;False;Question 6.6. Direct-response promotion targets groups;instead of individuals. (Points: 2);True;False;Question 7.7. Communication often breaks down because the;receiver's decoded message is different than the message the source encoded.;(Points: 2);True;False;Question 8.8. In the market introduction stage of the;product life cycle, if a firm has economies of scale and expects competitors to;enter the market soon, it would be wise to adopt a skimming pricing;policy. (Points: 2);True;False;Question 9.9. Because packaged products are regularly seen;in retail stores, a good package may give a firm more promotion effect than it;could possibly afford with advertising.;(Points: 2);True;False;Question 10.10. Experience shows that it doesn't make sense;for marketing managers to allocate costs to specific market segments or;products.;(Points: 2);True;False;Part 3: Essay (10 pts. each);Discuss the following questions as thoroughly as posssible.;Question 1. 1. Mintu Inc. sells several different types of;consumer products and the company attempts to introduce new products;periodically. The CEO is a staunch;believer of the traditional product life cycle (PLC). However, the current;marketing manager believes that while the PLC can be an important tool, this;does not mean that all products will follow the traditional PLC. Discuss how the marketing manager can;convince the CEO of his/her point of view. (Points: 10);Question 2. 2. In what ways do the other 3 Ps (of the;marketing mix) affect price decisions? Discuss one effect of product, one;effect of promotion and one effect of place on price decisions. (Points: 10);Question 3. 3. The merger of American Airlines and US;Airways brings to light legal concerns when horizontal arrangements between;firms at the same level are made.;Explain the basis for the legal issues. (Points: 10);Question 4. 4. The "Google" name was initially;supposed to be registered as "Googol." However, during the;registration process Sean Anderson misspelled the name to;Google." Which name do you;prefer - "Google" or "Googol"? Discuss two reasons why your prefered;spelling is a good brand/company name. (Points: 10)


Paper#46531 | Written in 18-Jul-2015

Price : $37