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Devry BUSN319 final exam




Question;Final Exam;Question 1.1. (TCO 4) Three commonly used methods of;evaluating marketing programs are marketing metrics, marketing dashboards, and;(Points: 5);marginal;analysis.;marketing;audits.;marketing ROI.;marginal;analysis.;marketing;control boards.;Question 2.2. (TCO 1) Ideally in effective marketing;planning, goals should be _____ in terms of what is to be accomplished and;when. (Points: 5);loose and vague;as general as possible;flexible or;elastic;quantified and;measurable;None of the;above;Question 3.3. (TCO 3) Which marketing strategy involves;retaining focus on a single product line but marketing it to new markets?;(Points: 5);Full coverage;Market;specialization;Product;specialization;Selective;specialization;Market-product;concentration;Question 4.4. (TCO 1) Based on relative competitive scope;(broad target to narrow target) and source of competitive advantage (lower cost;to differentiation), Porter's four generic business strategies are cost;leadership, cost focus, differentiation focus, and (Points: 5);service;leadership.;diversification.;reaction.;differentiation.;quality focus.;Question 5.5. (TCO 2) Which of the following pieces of;information is used in the implementation phase of the strategic marketing;process? (Points: 5);Corporate;return on investment;Marketing research;reports;Revenues;associated with each point of market share;Trends in past;and current revenues for industry and competitors in total and by segment;Possible;cannibalization effects on other products in the line;Question 6.6. (TCO 6) Which of the following pieces of;information is used in a SWOT analysis, the first step of the planning phase of;the strategic marketing process? (Points: 5);Corporate;return on investment;Market share;for the product;Revenues;associated with each point of market share;Projection of;future sales, expenses, and profits;Possible;cannibalization effects on other products in the line;Question 7.7. (TCO 3) When developing the advertising;program, which step helps advertisers with other choices in the process, such;as selecting media and evaluating a campaign? (Points: 5);Identify the;target audience;Specify the;advertising objectives;Design the;advertising;Pretest the;advertising;Schedule the advertising program;Question 8.8. (TCO 2) The proper blend of elements in the;promotional mix depends on the type of product. The three specific;characteristics to be considered are complexity, _____, and ancillary services.;(Points: 5);risk;size;durability;accessibility;acceptability;Question 9.9. (TCO 4) The promotional objective of the;decline stage of the product life cycle is to (Points: 5);inform.;persuade.;compare.;remind.;None of the;above;Question 10.10. (TCO 2) The _____ can be used to inform;prospective buyers about the benefits of the product. (Points: 5);promotion;channel;communication;chain;marketing;matrix;promotional mix;media mix;Question 11.11. (TCO 8) Which of the following statements;about the terms used for marketing intermediaries is true? (Points: 5);The least;precise terms used to describe marketing intermediaries are dealer and;distributor.;A retailer sells to business markets.;An agent has no;legal authority to act on behalf of a manufacturer.;A wholesaler is;an intermediary who sells to consumers.;Broker is a;synonym for a dealer.;Question 12.12. (TCO 7) Which of the following statements;about the legal and regulatory aspect of pricing is true? (Points: 5);The;Robinson-Patman Act deals with predatory pricing.;The Consumer;Goods Pricing Act is the only federal legislation that deals directly with;pricing issues.;The Sherman Act;deals only with vertical price fixing.;The Federal;Trade Commission Act deals with predatory pricing, deceptive pricing, and;geographical pricing issues.;The Consumer;Goods Pricing Act and the Robinson-Patman Act deal with price discrimination.;Question 13.13. (TCO 2) Which of the following is NOT one of;the six major pricing objectives? (Points: 5);Profit;Unit volume;Breakeven;Survival;Market share;Question 14.14. (TCO 3) The ratio of _____ to price is;called value. (Points: 5);perceived;benefits;prestige value;value-added;pricing;perceived;revenue;perceived costs;Question 15.15. (TCO 6) Aggregating prospective buyers into;groups that have common needs and will respond similarly to a marketing action;is called (Points: 5);consumer;differentiation.;psychographics.;market;segmentation.;market;delineation.;aggregation;marketing.;Question 16.16. (TCO 5) The process of continually acquiring;information on events occurring outside the organization to identify and;interpret potential trends is called (Points: 5);environmental;trending.;organizational;scanning.;environmental;scanning.;a SWOT;analysis.;acquisition;scanning.;Question 17.17. (TCO 1) A key role of the marketing;department is to (Points: 5);allocate;financial resources across business units.;set the overall mission of the company.;provide talent;management services.;look outward.;assess global;political situations.;Question 18.18. (TCO 1) Which of the following acts as a;barrier to the development of relationship marketing? (Points: 5);Changes in the;demographic nature of society;The;ever-increasing usage of the Internet for consumer purchases;The onset of;new cultural traditions;A population;with a median age of 50;Recent;terrorism activities;Question 19.19. (TCO 1) The Daniels College of Business at;the University of Denver offers an outstanding business school education. Cali;pays the tuition to attend Daniels and earns her MBA with a concentration in;supply chain management. Upon graduating, she is offered a high-paying;fulfilling position. Was this a marketing exchange? (Points: 5);No, because the;university is a private one;Yes, because;the university is profitable;Yes, because;paying tuition was exchanged for knowledge that directly led to Cali's;fulfilling, new job;No, because;money was exchanged;No, because the;school did not provide Cali with a product;Question 20.20. (TCO 6) Kraft produces Lunchables, a;prepackaged meal usually consisting of several crackers, small slices of meat;and small slices of cheese. Some versions contain Capri Sun drinks. Others are;called Cracker Stackers and Fun Fuel. The box is bright yellow and the quantity;of food contained within is small. The target market for Kraft Lunchables is;most likely (Points: 5);moms of;school-aged children.;business people;looking for a quick snack.;business;travelers.;teenagers.;seniors.;Question 21.21. (TCO 3) The owners of Old School Brand;Authentic Antique Foods researched Civil War records to come up with recipes;for the old-fashioned products it markets. Concern about the _____ element of;the marketing mix would make it eager to be featured in an upcoming edition of;Taste of Home magazine. (Points: 5);product;price;promotion;place;production;Question 22.22. (TCO 5) More magazine is a publication;designed to appeal to women over the age of 40. Demand for such magazines is an;example of how _____ forces impact the marketing environment. (Points: 5);economic;competitive;technology;social;regulatory;Question 23.23. (TCO 7) In 1998, F. Hoffman-LaRoche Ltd. and;BASF AG, two international pharmaceutical companies, were ordered to pay $725;million in fines for plotting to raise and fix prices of vitamins used in;virtually every home in the United States. This is an example of how;forces affect the marketing environment. (Points: 5);economic;ecological;technological;social;regulatory;Question 24.24. (TCO 6) Graham-Field Health Products makes;hospital beds and wheelchairs from component parts and materials it buys. It;sells its products to hospitals, nursing homes, and retailers of healthcare;products. Graham-Field Health Products operates in a(n) _____ market. (Points;5);consumer;government;industrial;reseller;demographic;Question 25.25. (TCO 1) Several years ago, SwissAir made;some unwise investments to pay for a planned expansion. As a result, the;company had to make some cost-cutting moves that alienated its customers. Eventually;the company declared bankruptcy, regrouped, and found itself able to resume;business. Its board of directors recently announced that the company would like;to resume flying. Before resuming flying, SwissAir needed to determine what;percentage of its former customers it could expect to return to the airline. If;not enough former customers were willing to use SwissAir again, the resumption;of flights would not be profitable. The determination of the percentage of;returning patrons that would be needed to resume operation is an example of a;(Points: 5);research risk.;research;objective.;research;uncertainty.;research;decision.;research;definition.;Question 26.26. (TCO 3) The Belsen interview is a means of;pretesting media surveys. It gathers facts and figures by asking people about;their attitudes, beliefs, and awareness of various media. With this technique;the respondent is interviewed twice, first by an interviewer using the proposed;survey and then by a different interviewer, who asks questions about the survey;itself. The Belsen interview uses _____ data. (Points: 5);observational;secondary;intercept;questionnaire;synergistic;Question 27.27. (TCO 4) A 3M researcher worked with;university students to develop the Post-it Flag Highlighter. His team evaluated;the technical feasibility of the proposed design and whether the idea met the;new-product objectives. In which stage of the new-product process was this;product? (Points: 5);Idea generation;Screening and;evaluation;Business;analysis;New-product;strategy development;Concept testing;Question 28.28. (TCO 4) In the 1960s, television westerns;were extremely popular. The shows were adventure shows with settings and;costumes that were very unlike what really existed. There were Bonanza, Wagon;Train, The Virginian, Laramie, and so on. When viewers gradually stopped;watching this category of programs, production companies found that the;networks no longer wanted to televise such shows. The television western as a;product category entered the _____ stage. (Points: 5);decay;diversification;decline;maturity;harvesting;Question 29.29. (TCO 8) Schwan's Sales Enterprises of;Marshall, MN, markets a full line of frozen foods in 49 states and parts of;Canada, using door-to-door salespeople who sell from refrigerated trucks. This;particular method of distribution is called a (Points: 5);direct channel.;indirect;channel.;facilitated;channel.;customer-service channel.;truck-jobber;channel.;Question 30.30. (TCO 2) Disney is using an integrated;marketing communications program (IMC) to promote group travel to its theme;parks, because (Points: 5);its strategy;includes using all types of promotional activities that deliver a consistent message.;it does not;want to reach any member of its target audience more than once.;IMC is less;expensive than other forms of promotion, such as public service announcements.;if it didn't;Disney would have to use indirect personal selling.;it is more;concerned about frequency than reach.;Question 31.31. (TCO 2) The local radio station broadcast a;story about the dry cleaners that requested coat donations. They would clean;the coats and deliver them to people in need. The various addresses of the dry;cleaner chain were also broadcast so that donations could be dropped off.;Because this featured business did not pay for this exposure, it is benefiting;from (Points: 5);publicity.;advertising.;direct marketing.;personal;selling.;a public;service announcement.;Question 32.32. (TCO 8) For several years, advertisements;for Arm & Hammer Baking Soda have prompted consumers to place an opened box;of the product in the refrigerator to lessen food odor and to replace that box;monthly. The same ads advise customers to pour the used box down their kitchen;sinks to freshen drains. Arm & Hammer employed a _____ strategy in its;attempt to sell more baking soda. (Points: 5);market;penetration;market;development;product;development;diversification;product;penetration;Question 33. 33. (TCO 3) Imagine that you are creating a;marketing plan for a company that will sell kites. As you consider the;marketing program, what types of strategy should you consider including in the;plan? Propose one specific example of each type of strategy that you are;considering, and present your rationale (reasoning) for your strategy;selections. (Points: 30);Question 34. 34. (TCO 1) In China, many people are removing;their money from the state banks and lending it out themselves. The interest;rate earned in a state bank account is about one half the rate of inflation. On;the other hand, loaning money to friends, relatives, and even unrelated;entrepreneurs can often earn the investor double or more over the inflation;rate. The gray market, an underground network of investors and private;businesses, moves the cash from lenders to businesses. Judge whether marketing;occurred in this situation, and justify your conclusions. Appraise the;effectiveness of government regulation in controlling markets. (Points: 30);Question 35. 35. (TCO 4) Managing the product through successive stages of the;product life cycle is an important role for a product manager. Assess the three;ways to manage a product through its life cycle, including examples to help;clarify your assessment. Indicate the reasoning why you would prefer one method;over another in a given situation. You can use any product in your examples.;(Points: 30)


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