Description of this paper

MKT 571 Final Exam MCQs

Description

solution.


Question

What can enhance the value of Web-based shopping experiences to serve as personal shopping assistants or Web-site guides?

 

E-mail

 

Avatars

 

Smartphones

 

Tablets

 

 

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?

 

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.

 

Demonstrate that the products will benefit both customers and the society in the long-term.

 

A firm must know where to position its product based on price and ________.

 

quality

 

communication

 

promotional efforts

 

region

 

 

_______ is an approach that considers different ethnic and cultural segments require targeted marketing campaigns and tactics.

 

Specialized marketing

 

Ethnic-based marketing

 

Multicultural marketing

 

Diversity marketing

 

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 valuation

 

brand association

 

market partitioning

 

market estimation

 

Which method identifies the effect sponsorship has on consumers brand knowledge?

 

Supply-side method

 

Pricing method

 

Positioning method

 

Demand-side method

 

 

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 ________.

 

decision making

 

provoking solutions

 

crisis management

 

problem-solving

 

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

 

Total management benefit

 

Ultimate service benefit

 

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 ________.

 

first entry

 

parallel entry

 

late entry

 

early entry

 

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

 

Solvency

 

Efficiency

 

Profitability

 

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.

 

hard-core loyals

 

switchers

 

split loyals

 

shifting loyals

 

Which control should periodically reassess its approach to the marketplace with a good marketing audit?

 

Marketing control

 

Performance control

 

Strategic control

 

Ethical control

 

 

 

Which of the following can induce a firm to expand into the international arena?

 

A saturated foreign market

 

A saturated domestic market

 

Cater to a domestic mass market

 

High income level of domestic consumers

 

 

With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.

 

product specialization

 

selective specialization

 

market specialization

 

single-segment concentration

 

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 ________.

 

interoperability

 

durability

 

compatibility

 

conformance quality

 

 

2Wheels 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 mining

 

data governance

 

data accumulation

 

data marketing

 

 

Another basis for decision-making is referred to as ________.

 

 

correct ethics

 

ethical dilemmas

 

situational ethics

 

ethical practices

 

 

 

The effect of exposures on audience awareness depends on the following three factors:

 

distance, timing, and focus

 

height, length, and width

 

reach, frequency, and impact

 

space, communication, and advertisements

 

 

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?

 

Strategic plan

 

Pull strategy

 

Lock strategy

 

Push strategy

 

 

 

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 1 – defining the problem

 

Step 2 – developing the research plan

 

Step 5 – drafting the report

 

Step 4 – analyzing the information

 

Which component of a marketing audit includes major developments in income, prices, savings, and credit that affect the company?

 

Cultural

 

Economic

 

Technological

 

Political

 

 

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 ________.

 

market development

 

differentiation

 

integrative growth

 

overall cost leadership

 

 

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

 

Pure tangible product

 

Potential benefit

 

Core benefit

 

 

New-to-the-world products are ________.

 

new products that create an entirely new market

 

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

 

 

What are the four characteristics of a marketing audit?

 

Announced, semi-annually, dependent, and perpetual

 

Simple, unique, randomly, and exclusive

 

Comprehensive, systematic, independent, and periodic

 

Dependent, non-comprehensive, quarterly, and unannounced

 

 

What type of strategy consists of geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing?

 

Regular prices

 

Price adaptation

 

Fixed pricing

 

Altered pricing

 

 

 

The ability to meet humanity’s needs without harming future generations is now a top priority in most corporate agenda________.

 

righteousness

 

sustainability

 

rules

 

ethics

 

social definition of marketing says ______.

 

marketing is the process of extracting maximum value from consumers to facilitate corporate growth

 

effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumers

 

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 by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others

 

 

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 mission

 

brand slogan

 

brand personality

 

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.

 

growth

 

obsolescence

 

maturity

 

decline

 

Paper#47055 | Written in 15-Feb-2016

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