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MSSU MKRT300 final exam




Question;Question 1The number of times a person is exposed to an advertisement during a certain time period is known as:reach.frequency.enumeration.randomization.2 points Question 2A five-pound bag of roasted peanuts sells for $8, and the average variable cost is $4 per bag. If the total fixed cost for the roasted peanuts is $80,000, the breakeven point in bags is:20,000.40,000.80,000.120,000.2 points Question 3Which of the following sales promotions produces a higher response rate?SweepstakesRebatesSamplingCoupons2 points Question 4Trade dress refers to:visual components that contribute to the overall look for a product.a promotional philosophy of targeting all sales efforts to the trade.the general size of the packaging used by a product.the correlation between a trademark and its trade name.2 points Question 5Why do customers prefer to have continuing relationships with businesses or suppliers?Businesses tend to offer better financial incentives to customers who engage in continued relationships with them.By nature, customers are resistant to change and prefer preexisting relationships with businesses.By reducing the number of choices, the decision-making process is made easier.Most businesses have low switching costs which make them attractive to have continued relationships with.2 points Question 6Marketers applying a positioning strategy want to:make their product look as much like the market leader as possible.emphasize a product's unique advantages and differentiate it from competitors' options.make sure they clearly outline the product's possible to specific, known users of the product.2 points Question 7SWOT is an acronym for:strategy, working, opinion, tactical.strengths, weaknesses, opportunities, threats.strategy, work, openness, toughness.strategy, weakness, opinions, threats.2 points Question 8In a process called _____, products pass through a series of stages from their initial appearance to their decline.product life potentialpromotional cyclepricing cycleproduct lifecycle2 points Question 9The most common method of market segmentation is:product sampling.demographic segmentation.economic segmentation.psychographic segmentation.2 points Question 10Common carriers move freight:that is limited-rate contract.only for business customers.via all modes of transport.2 points Question 11An offering within a product line, such as a specific size of liquid detergent, is known as a(n) _____.universal product codeprice look-up codestock-keeping unituniversal resource locator2 points Question 12Which term is used to describe the amount of money available with people after buying necessities such as food, clothing, and housing?Basic incomeGross incomeDiscretionary incomePersonal income2 points Question 13The ideal form of promotion for large, geographically dispersed audiences that will listen to the same message is:advertising.phishing.public relations.sales promotion.2 points Question 14Setting aside a specified percentage of sales for promotional mix expenses -- either based on past records or projected for the future -- is known as _____ budgeting.fixed percent appliedpercentage-of-salesfixed-sum-per unitcompetitive match2 points Question 15The failure of the management of a firm to recognize the scope of its business is referred to as:disintermediation.intermodal dystopia.2 points Question 16The organizational function and set of processes that creates, communicates, and delivers value to customers and manages customer relationships in ways that benefit the organization and its stakeholders is called _____.marketingfinancingoperationsadministration2 points Question 17All planning strategies have the goal of creating:sustainable competitive advantage.bargaining power.a strategic window.barriers to market entry.2 points Question 18The sequence of suppliers and activities that contribute to creating and delivering merchandise is called a:supply chain.distribution agency.logistics channel.retail cooperative.2 points Question 19The identity of the _____ is the most difficult role for salespeople to pinpoint.userdeciderbuyerinfluencer2 points Question 20Helene, an industrial sales representative, made sure her company car was equipped with OnStar devices in case she ever had car trouble or got lost while traveling between appointments. Which level of Maslow?s Hierarchy of Needs is Helene addressing?PhysiologicalSafetyEsteemSelf-actualization2 points Question 21Strategic planning has a critical impact on a firm?s destiny because it provides _____ for its decision makers.customer inputindividual goalsdepartmental goalslong-term direction2 points Question 22You are reluctant to try out the newly opened department store in your neighborhood because you are unsure of the service you will get. When you do however, you find that the staff are friendly and helpful, the cashiers are fast, and the store is extremely well stocked. One can say that:the store is unlikely to get any word-of-mouth publicity.this store need not have a benchmarking process in had a positive service encounter.there was no gap between your expectation and the service you received at the store.2 points Question 23The dominant and controlling member of a marketing channel is the:vertical captain.wholesaler.2 points Question 24A consumer expects to purchase convenience products:without having full knowledge about what is sought.immediately and with minimal effort.after visiting numerous stores and comparing traveling any distance required to get what is wanted.2 points Question 25An example of a first-level relationship marketing program would be a(n):fan club for a famous entertainer.high-school alumni for owners of a particular model of car.two-for-one deal on airline tickets.2 points Question 26A brand for which the owner claims exclusive legal protection is known as a:patent.copyright.trademark.royalty.2 points Question 27In marketing, the term product:refers only to tangible items that can be seen, tasted, or a broad concept encompassing the satisfaction of consumer limited in meaning to goods, services, and ideas.never refers to such things as package design, brand name, or warranty.2 points Question 28A series of related but different ads that use a single theme and appear in different media within a specified time period is an example of a(n):advertising campaign.reminder advertising.special promotion.advertisement series.2 points Question 29A characteristic of a good brand name is that it should:avoid any specific connotation relative to product short and also descriptive of the product or its characteristics.hold universal appeal with respect to its pronounced the same in every language.2 points Question 30Core competencies are capabilities that customers value and competitors:can easily copy.tend to overestimate.find difficult to duplicate.undervalue.2 points Question 31Secondary data has two important advantages over primary data. These advantages include:wide variety of statistics and large sample groups used to create the data.high level of detail and endorsement by other users.accuracy of the data specifically gathered for the research study.cost and speed of locating and using the data.2 points Question 32Which of the following federal agencies is the most important source of secondary data for marketing research studies?Federal ReserveTreasury DepartmentCensus BureauBureau of Labor Statistics2 points Question 33Customer relationship management is:the process of maintaining good relationships between all wholesalers and/or retailers in the distribution channel.a process used to retain customers by offering lower prices on the purchase of specific products or services.a network of interconnected businesses involved in the ultimate provision of products and services required by end customers.the process of re-orienting a business to a concentrated focus on satisfying customers.2 points Question 34The process of collecting information about the external marketing environment is called:environmental management.environmental scanning.2 points Question 35A _____ is a channel intermediary that takes title to goods it handles and then distributes these goods to retailers, other distributors, or B2B customers.category killermerchandisersupermarketerwholesaler2 points Question 36The function performed by the gatekeeper in the company buying center is to:supply information to guide the evaluation of a supplier and implement the procedures for securing the goods and services.choose which goods and services will actually be bought.control the information that all buying center members will review.2 points Question 37When a business purchaser renews the terms of sale of an item that has performed satisfactorily in the past and requires no new information to decide to purchase it again, the buying situation is called:straight buying.reciprocity.modified rebuying.2 points Question 38_____ is a promotional effort that involves assigning a dedicated sales teams to a firm?s major customers to provide sales and service.National account sellingQuick-response merchandisingVendor-managed inventoryCollaborative planning2 points Question 39The _____ is at the heart of integrated marketing communications.productbrandorganizationcustomer2 points Question 40The broadest environmental determinant of consumer behavior is:income or purchasing power.educational status.2 points Question 41The 80/20 principle states that:market segmentation succeeds 80 percent of the time and fails the remaining 20 percent of the time.roughly 80 percent of total product sales come from 20 percent of customers.80 percent of the market segment is tapped, and 20 percent has not yet been reached.80 percent of the market can be segmented, and 20 percent cannot.2 points Question 42The type of advertising that seeks to develop initial demand for a newly introduced good, service, organization, person, place, idea, or cause is known as _____ advertising.reminderinformativecomparativeadvocacy2 points Question 43Which of the following statements regarding the nature of the business market is true?Distribution channels for business products are significantly longer than those for consumer products.Customer relationships for business products tend to be short-term and transactions-based.Personal selling plays a larger role in business products markets than in consumer markets.Customer service plays a smaller role in the distribution of business products, as compared to the consumer market.2 points Question 44The utility of a product or service is its:want-satisfying as a quality.2 points Question 45Salespeople usually have the most difficulty with:approaching potential buyers.precall planning.closing the sale.following up after the sale.2 points Question 46The role of a sales representative in the promotion process has changed from that of persuader to that of:a technician and expert on product repair.a process designer.a consultant and problem solver.a close friend and confidant.2 points Question 47At which stage of the consumer decision-making process might cognitive dissonance occur?SearchEvaluationPurchase decision and purchase actPost purchase evaluation2 points Question 48In which of the following types of market structures would a producer have theleastamount of flexibility in setting prices?Pure competitionMonopolistic competitionOligopolyMonopoly2 points Question 49A major benefit of test markets as a quantitative forecasting method is:they provide realistic information on actual purchases rather than intent to buy.they are quick, inexpensive, and effective with stable customer demand and environment.they are useful in predicting short-term and intermediate sales for firms that serve selected customers.they provide salespeople with expert customer, product, and competitor knowledge.2 points Question 50Pricing a product ?Free on Board plant? or ?Free on Board origin?:means the buyer pays all shipping charges from the manufacturer's dockallows the same total price to be quoted to all customers, regardless of their distance from the factoryhas the effect of dividing the market into different regions with a different price being charged in eachis based on the belief that certain prices or price ranges are more appealing than others


Paper#46532 | Written in 18-Jul-2015

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