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WKU MKT220 Final exam fall 2014




Question;QUESTION 1;Of the following choices, which would be the easiest brand;name to legally protect?;a.;Western County Distributors;b.;Tarzink Yogurt;c.;Scout Camping Supplies;d.;Sullivan Water Filtering Systems;e.;Learn and Grow Daycare;2 points;QUESTION 2;A product mix is best described as;a.;all products offered by a firm.;b.;many products sold by one firm.;c.;a group of closely related products that are considered a;unit because of market, technical, or end-use considerations.;d.;product, distribution, promotion, and price.;e.;all products of a particular type.;2 points;QUESTION 3;To make intangible products more tangible or real to the;consumer, marketers often;a.;use external reference prices.;b.;use symbols or cues to help symbolize product benefits.;c.;use multiple channels of distribution.;d.;offer more support services with such products.;e.;use low prices on intangible goods.;2 points;QUESTION 4;The Anderson Advertising Agency was developing a name for;their client?s new paper towel product.;They finally settled on the name, ?Soaker.? Regarding the factors that marketers consider;when selecting a brand name, which one does this best fulfill?;a.;Keeping the brand name easy to remember;b.;Flexibility to be used in various types of media;c.;Indicating the product's major benefits;d.;Using fabricated names that cannot be duplicated;e.;Compatibility with other products in the line;2 points;QUESTION 5;Sales usually start to decline during the ____ stage of the;product life cycle.;a.;beginning of the decline;b.;end of the growth;c.;beginning of the growth;d.;beginning of the termination;e.;end of the maturity;2 points;QUESTION 6;Which of the following statements about nonprice competition;is false?;a.;A firm using nonprice competition can build loyalty to both;its company and its products.;b.;When using nonprice competition, a company should promote;the distinguishing characteristics of its brand.;c.;Companies that use nonprice competition do not need to keep;track of their competitor's prices.;d.;A company must be able to distinguish its brand through some;unique feature in order to successfully engage in nonprice competition.;e.;Buyers must view the distinguishing characteristics of a;product offered through nonprice competition as being important.;2 points;QUESTION 7;Price is considered to be the variable in the marketing mix;that is;a.;First to be decided.;b.;Least flexible.;c.;Most difficult.;d.;Last to be decided.;e.;Most flexible.;2 points;QUESTION 8;One advantage of nonprice competition is that;a.;a firm can build customer loyalty.;b.;pricing is no longer a factor.;c.;market share becomes less important.;d.;a firm can react quickly to competitive efforts.;e.;marketing efforts are completely eliminated.;2 points;QUESTION 9;Sony management decided to use skimming as a pricing;strategy for its newest line of high-definition television (HDTV) sets. It;should be aware that this strategy does not;a.;provide flexibility in the introductory base price.;b.;reduce the stress that may be placed on the firm's;production capabilities.;c.;generate capital to cover research and development costs.;d.;protect the firm from covering costs if prices are set too;low.;e.;discourage competitors from entering the market.;2 points;QUESTION 10;When a company that produces computer printers prices them;somewhat low, but the ink required to operate the printer is priced higher per;relative usage, it is using;a.;penetration pricing.;b.;captive pricing.;c.;a price leader.;d.;bait pricing.;e.;price lining.;2 points;QUESTION 11;Paid personal communication that seeks to inform customers;and persuade them to purchase products in an exchange situation is;a.;personal selling.;b.;advertising.;c.;public relations.;d.;individual promotion.;e.;personal promotion.;2 points;QUESTION 12;Latisha works for a promotional consultant who develops;sweepstakes, games, coupons, and rebate plans for various marketers. Latisha is developing which of the following?;a.;publicity examples.;b.;direct marketing techniques.;c.;advertising techniques.;d.;personal selling techniques.;e.;sales promotion techniques.;2 points;QUESTION 13;Chris sees a television commercial for Arby's promoting its;roast beef sandwiches at 5 for $5.95. Later that day he goes to the nearest;Arby's for a roast beef feast, but is told that the special offer is not;available at that location. Arby's seems to lack;a.;channel capacity.;b.;promotional efforts.;c.;integrated marketing communications.;d.;coordinated awareness.;e.;communication.;2 points;QUESTION 14;The Sharper Image likes to use nonpersonal communication in;news story form such as press releases for its new and improved products. This;is an example of;a.;sales promotion.;b.;publicity.;c.;personal selling.;d.;direct marketing.;e.;social media.;2 points;QUESTION 15;A major benefit of using event sponsorship is that it;a.;is cost-free.;b.;neutralizes the effects of unfavorable public relations.;c.;enhances personal selling efforts.;d.;can provide large amounts of free media coverage.;e.;provides excellent support for advertisements.;2 points;QUESTION 16;Children often achieve ____ by observing parents and older;siblings in purchase situations and then through their own purchase;experiences.;a.;consumer socialization;b.;social class;c.;personality;d.;attitude formation;e.;role identification;2 points;QUESTION 17;A major determining factor in deciding which type of;problem-solving process should be used depends on the individual's intensity of;interest in a product and the importance of the product for that person. This;is known as an individual's;a.;level of involvement.;b.;routinized response behavior.;c.;motivational structure.;d.;evaluative criteria.;e.;cognitive dissonance.;2 points;QUESTION 18;The three major categories of influences on the consumer;buying decision process are;a.;social influences, situational influences, and;marketer-dominated influences.;b.;situational influences, social influences, and psychological;influences.;c.;situational influences, demographic influences, and;psychological influences.;d.;marketer-dominated influences, psychological influences, and;person-specific influences.;e.;demographic influences, situational influences, and;marketer-dominated influences.;2 points;QUESTION 19;In a period of economic recovery, the best marketing strategy;for FedEx would be characterized by which of the following features?;a.;Austerity;b.;Boldness;c.;Flexibility;d.;Aggressiveness;e.;Retrenchment;2 points;QUESTION 20;Many aspects of consumer buying decisions are affected by;the individual's level of involvement. Level of involvement is;a.;the amount of external search that an individual puts into;the decision-making process.;b.;the importance and intensity of interest in a product in a;particular situation.;c.;a combination of an individual's demographic factors.;d.;the particular circumstance or environment in which;consumers find themselves.;e.;the buyer's perception, motives, and abilities.;2 points;QUESTION 21;If Hefty Bags expresses concern that its products are having;too great an impact on the pollution of ground water under landfills, this;concern is directly related to the firm?s;social responsibility.;marketing concept.;profitability.;ethics.;distribution system.;2 points;QUESTION 22;In testing her firm?s new TV ads for Pok?mon action figures;Beth discovers the ads make children think many of the action figures can;actually fly. Beth now faces an ethical decision regarding which element of the;marketing mix?;Product;Price;Distribution;Promotion;Strategy;2 points;QUESTION 23;Sometimes business must find a balance between society?s;demand for social responsibility and investors? desires for profits. This is an;example of a(n) ___________ responsibility.;ethical;legal;cost;philanthropic;economic;2 points;QUESTION 24;Cameron Inc. is a very profitable automobile repair shop.;The company is well known for its great service and involvement in the;community, but it fails to properly dispose of its used oil as outlined in;environmental regulations. Cameron is failing in its ______ responsibilities.;legal;ethical;economic;philanthropic;strategic;2 points;QUESTION 25;The Browardton Quilters? Guild has contacted all the major;networks to try to warn people about the poor performance of miniature;hand-held sewing machines. These quilters are engaging in;publicity stunts.;the right to safety.;consumerism.;lobbying.;political action.;2 points;QUESTION 26;The undifferentiated targeting strategy for finding a target;market will likely not be successful if;a.;people within the market have heterogeneous needs.;b.;the firm is capable of developing a single marketing mix;that satisfies all people's needs.;c.;product positioning is needed.;d.;the firm defines the total market as its target market.;e.;people within the market have homogeneous needs.;2 points;QUESTION 27;A business advantage of the concentrated targeting strategy;for any company is that it;a.;requires less market research and information.;b.;allows a firm to utilize all of its production capacity.;c.;requires less intensive analysis of customers' characteristics;and needs.;d.;maintains the firm's flexibility in moving into other market;segments.;e.;allows a firm to develop a special marketing mix for a;single market segment.;2 points;QUESTION 28;A targeting strategy in which an organization directs its;marketing efforts at several segments is called a(n) ____ targeting strategy.;a.;total market;b.;undifferentiated;c.;concentrated;d.;integrated;e.;differentiated;2 points;QUESTION 29;Segmentation variables are usually grouped into four;categories;a.;attitudes, lifestyles, behaviors, and gender.;b.;demographic, geographic, psychographic, and behavioristic.;c.;demographic, geographic, religion, and income.;d.;geographic, demographic, psychographic, and attitudes.;e.;geopolitical, income, behavioristic, and psychographic.;2 points;QUESTION 30;The ProMark Company manufactures a pencil that is about five;inches long and has no eraser. It sells;the product primarily to golf courses and universities. What type of targeting strategy is the;ProMark Company using?;a.;Extensive;b.;Intensive;c.;Differentiated;d.;Concentrated;e.;Undifferentiated;2 points;QUESTION 31;The forces of the marketing environment primarily affect;marketers in three ways: They influence customers by affecting their lifestyles;and preferences for products, they determine whether or how a marketing manager;can perform certain marketing activities, and they;a.;dictate that changes be made to the existing marketing mix;despite any negative reactions from customers.;b.;affect a marketing manager's decisions and actions by;influencing buyers' reactions to the firm's marketing mix.;c.;change a customer's decisions about the appropriate;marketing mix for the company and its various products.;d.;cause most advertising to be ineffective at communicating;product benefits due to rapidly changing environmental forces.;e.;make most new products obsolete very quickly so that;research and development must continually develop new products.;2 points;QUESTION 32;The equation a buyer applies to assess a product's value is;a.;value = monetary price - customer benefits.;b.;value = customer costs - customer benefits.;c.;value = customer benefits - customer costs.;d.;value = customer benefits - time and effort.;e.;value = customer benefits - monetary price.;2 points;QUESTION 33;The focal point of all marketing activities is;a.;profits.;b.;the marketing mix.;c.;products.;d.;sales.;e.;customers.;2 points;QUESTION 34;Marketing is the process of;a.;promoting products through personal selling and advertising;to develop and maintain favorable relationships with customers and stakeholders.;b.;focusing on customers' needs.;c.;creating, distributing, promoting, and pricing products to;facilitate satisfying exchange relationships with customers and to develop and;maintain favorable relationships with stakeholders in a dynamic environment.;d.;delivering a standard of living to a society.;e.;creating, distributing, promoting, and pricing goods;services, and ideas to facilitate the achievement of the firm's objectives.;2 points;QUESTION 35;Making modifications to packaging or brand names involves;the ____ component of the marketing mix.;a.;product;b.;promotion;c.;market;d.;price;e.;distribution;2 points;QUESTION 36;Consumers buying products online have dramatically affected;the ____ variable of the marketing mix.;a.;distribution;b.;product;c.;research;d.;price;e.;promotion;2 points;QUESTION 37;Which of the following is most likely to be an idea;marketer?;a.;Car salesperson;b.;Attorney;c.;Airline pilot;d.;Orthodontist;e.;Abuse counselor;2 points;QUESTION 38;Boca Burger's website features information about products;recipes, and nutritional values, but customers cannot actually purchase;products from the website. This website is most likely used primarily as a;marketing tool.;a.;production;b.;pricing;c.;promotional;d.;targeting;e.;distributional;2 points;QUESTION 39;The definition of marketing implies that ____ should receive;benefits from exchange relationships.;a.;only businesses;b.;company management;c.;only customers;d.;only the most important customers;e.;both customers and businesses;2 points;QUESTION 40;When Ikea showcases rooms of furniture on its website, it;lists each item in the room. However, if;customers like all of the items, they can purchase them as a bundle. Which of the following aspects of the;marketing mix is Ikea likely altering?;a.;Promotion;b.;Distribution;c.;Product;d.;Target market;e.;Price;2 points;QUESTION 41;In managing customer relationships, the three primary ways;profits can be obtained are by;a.;enhancing the profitability of existing customers;eliminating customers who provide smaller profits, and finding new customers.;b.;enhancing the profitability of existing customers, extending;the duration of relationships with customers, and obtaining new customers.;c.;eliminating long-term customers who have decreased;purchases, finding new customers, and increasing sales to existing customers.;d.;extending the length of relationships with customers;cutting organizational costs, and enhancing the profitability of new customers.;e.;acquiring new customers, enhancing the profitability of new;customers, and shortening the duration of relationships with existing;customers.;2 points;QUESTION 42;Marketing managers strive to develop a marketing mix that;a.;generates the highest level sales.;b.;matches the needs of the target market.;c.;matches what competitors are offering.;d.;minimizes marketing costs.;e.;best matches the abilities of the firm.;2 points;QUESTION 43;The application of mechanical and human efforts to either;people or objects to provide intangible benefits to customers is known as a(n);a.;issue.;b.;experience.;c.;service.;d.;good.;e.;idea.;2 points;QUESTION 44;The three basic forms that a product can take are;a.;brands, services, and tangibles.;b.;markets, products, and images.;c.;services, ideas, and goods.;d.;goods, ideas, and intangibles.;e.;ideas, services, and things.;2 points;QUESTION 45;Which of the following scenarios involves the distribution;element of the marketing mix?;a.;Determining whether an advertising message would be more;effective on television or in magazines;b.;Developing a new warranty policy for an existing product;c.;Deciding whether or not a certain product should continue to;be sold;d.;Deciding whether or not to have retail outlets in addition;to a website;e.;Choosing between a company jet or the airlines for executive;travel;2 points;QUESTION 46;The advertising campaign for Crest toothpaste lets consumers;know about its newest flavor, and also mentions its history as an established;brand. The ad also mentions Crest?s;advantages and benefits. Crest?s;advertising would be classified as;a.;repetitive.;b.;pioneer.;c.;competitive.;d.;reinforcement.;e.;reminder.;2 points;QUESTION 47;Soft drink companies advertise that their products beat the;competition in national "taste tests," and they refer to the rival;brands by name. This type of advertising is best described as;a.;comparative.;b.;pioneer.;c.;competitive.;d.;defensive.;e.;selective.;2 points;QUESTION 48;The two major types of product advertising are;a.;informative and comparative.;b.;competitive and comparative.;c.;advocacy and competitive.;d.;institutional and advocacy.;e.;pioneer and competitive.;2 points;QUESTION 49;The cost per thousand (CPM) indicator shows;a.;the cost to expose 1,000 people to a television commercial.;b.;how one media source compares to a different source for;reaching target markets.;c.;the cost to expose a million people to any type of;advertisement.;d.;the cost to expose 1,000 people to a one-page magazine;advertisement.;e.;the return on investment marketers get for their advertising;dollar.;2 points;QUESTION 50;Toyota's sponsorship of a major Professional Golf;Association tournament would be an example of a(n) ____ tool.;a.;personal selling;b.;advertising;c.;sales promotion;d.;publicity;e.;public relations


Paper#46605 | Written in 18-Jul-2015

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