Mkt 571 / Mkt571 final exam

MKT 571 Final ExamYou can get your own complete guide from

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A + Tutorial Guaranteed1. Which of the following is most closely associated with a proactive marketing orientation?

A. It represents the “make and sell“philosophy. B. It is about understanding and meeting customers’ expressed needs. C. The marketer focuses on the customers’ latent needs. D. It involves delivering superior value.

2. Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

a. internallyb. management c. segmentationd. traininge. integration

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3. Business buyers _________.

a. are geographically as diverse as consumers

b. tend to be geographically concentrated with over half of them in seven states

c. are largely concentrated in the southwestern United States

d. tend to be found in smaller communities and rural areas in the Midwest

e. use geographical dispersion to keep shipping costs low



4.

Toyota, the maker of the Scion brand, using what kind of brand strategy with Scion products?

A. Separate family names

B. Corporate names

C. Individual names

D. Blanket family name

5. BMW, the maker of the Mini Cooper brand, is using what kind of brand strategy with its Mini products?

A. Blanket family names

B. Separate family names

C. Corporate names

D. Individual names

6. Brands can play a number of specific roles within a company’s brand portfolio. For example, a __________ is positioned with respect to competitors’ brand so that more important and profitable brands retain their desired positioning.

a. cash cow

b. low-end, entry level brand

c. high-end, prestige brand

d. flanker

e. mid-market brand

7. When Apple introduced its popular iPod Nano model, it dropped its Mini iPod at the same time. The Mini was at the time the most popular mp3 player in the marketplace. This is an example of __________.

a. corporate insanity

b. CEO Steve Jobs’ large ego

c. preemptive cannibalization

d. a brand shake-out

e. product maturity

8. A __________ is when the parent brand is used on a new product targeting a new market segment within a category currently

served by the parent.

a. joint-venture co-brand

b. same-company co-brand

c. category extension

d. multiple-sponsor co-brand

e. line extension

9. __________ are formal statements of expected product performance by the manufacturer.

a. Open pricing statements

b. Promotional statements

c. Warranties

d. General guarantees

e. Specific guarantees

10. Mazda’s Miata convertible originally drew the most interest from women between the ages of 35-55. In order to interest more potential customers in the roadster, Mazda beefed up the model with heavier shocks and a faster engine, and then emphasized performance in its advertising. This is an example of creating a new product by ____________.

A. Market diversification strategy

B. Repositioning

C. Product development strategy

D. The development of a new product line

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11. When SAP software added a Windows-style "back" button to its industrial invoice management software, the new product ___________.

A. Used a marketing diversification strategy

B. Added to an existing product line

C. Improved upon an existing product

D. Used a new product line

12. In 2003, Toyota introduced its Scion brand, with the aim of bringing younger buyers into the “family.” This was a classic example of __________.

a. innovayion

b. line featuring

c. line cannibalization

d. line stretching

13. Painting and consulting are considered industrial goods because ______________.

A. They facilitate developing and managing the finished product

B. They are considered “component materials"

C. Most firms do not seek them directly

D. They are specialty goods

14.

Marketers plan their market offerings at five levels. What is the correct order of the levels, going from most fundamental to the level with the most benefits?

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A. Expected-potential-basic-augmented-core

B. Core-basic-expected-augmented-potential

C. Potential-augmented-expected-core-basic

D. Basic-expected-augmented-core-potential

15. Characteristics a buyer can evaluate before purchase are called _______________.

A. Credence qualities

B. Search qualities

C. Differentiation qualities

D. Experience qualities

16. For $15 a day, Chlena will go to your home and feed and water your pet for you while you are on vacation. The service Chlena provides is an example of a _______________.

a.) pure tangible good

b.) tangible good with accompanying services

c.) hybrid

d.) pure service

e.) major service with accompanying minor goods and services

17. Mr. Tse and his family took a vacation trip to Washington D.C. While there, they bought souvenir T shirts and hats to take home to friends who didn’t have the opportunity to go. The experience of the

Tses is an example of which offering category?

a.) a pure tangible good

b.) a tangible good with accompanying services

c.) a hybrid

d.) a pure service

e.) a major service with accompanying minor goods and services

18. Best Buy will often try to sell a buyer of a high-end television monitor an extended warranty. This is an example of selling _______________.

a.) a pure tangible good

b.) a tangible good with accompanying services

c.) a hybrid

d.) a pure service

e.) a major service with accompanying minor goods and services

19. The introduction of a new product to the market using market-penetration pricing is most likely to be successful when _______________.

a.) the unit costs of producing a small volume of the product are high

b.) there must be no existing demand for the product

c.) the market is highly price sensitive

d.) the high price communicates nothing to the potential buyers

e.) competitors are not attracted to the market because there is no profit motivation

20. A _______________ pricing objective is suitable for a company that has overcapacity, intense competition, and changing customer needs.

a.) maximum current profit

b.) survival (moderate)

c.) maximum current revenue

d.) maximum sales growth

e.) partial cost recovery

21. Scotty is in the process of opening Suburban Legends SK8S to sell boards, wheels, trucks, clothing, videos, and skateboarding related collectibles. The first thing Scotty should do when setting the store’s prices is to _______________.

a.) determine demand

b.) estimate costs

c.) determine her target market

d.) select a pricing method

e.) select a pricing objective

22. A common mistake in pricing is __________.

a. setting prices according to demand

b. revising prices too often

c. considering price and price competition as a key problem in marketing

d. ignoring costs when setting prices

e. setting prices independently of the rest of the marketing mix

23. When customers buy on the basis of a reference price or because the price conveys a particular quality image to them, they are being influenced by __________.

a. value pricing

b. the psychology of pricing

c. the going-rates of competitors

d. value augmented by perception

e. an aggregated marketing plan for pricing

24. Which of the following areas will a marketing manager standardize or adapt when taking a new product global?

A. Marketing concept

B. Marketing mix

C. Product strategy

D. Promotion strategy

25. Which of the following best describes integrated marketing communication (IMC)?

A. Organizations present a consistent message.

B. Organizations present an effective communication plan.

C. Organizations present a plan that focuses on the customer.

D. Organizations present an effective advertising message.

26. Which of the following best describes the role of social responsibility in marketing?

A. Standards that guide marketing decisions and actions

B. Improving environment and products

C. Obligation to improve positive effects on society

D. Obligation to improve positive effects and reduce negative effects on society

27. Public policy makers have developed a substantial body of laws and regulations to govern advertising. For these reasons, an important step in developing an advertising campaign is _____________.

A. asking network censors what to cut out of the communication

B. the creative development of the message

C. the social responsibility review

D. preparing a copy strategy statement

28. Within the last couple of years several cosmetics manufacturers have introduced a rather new non-messy mascara. Revlon was one of those manufacturers. Revlon should use ___________ advertising to increase selective demand for its non-clumping mascara.

a. descriptive

b. persuasive

c. informative

d. instructive

29. Hospitals are engaged in intense competition to fill maternity beds. What type of advertising would hospitals most likely use to advertise their new amenities like hot tubs in every room, filet mignon or lobster on the menu, and afternoon teas for the new mothers and their families?

A. descriptive

B. persuasive

C. reminder

D. informative

30. ___________ is a key ingredient in many marketing campaigns and consists of a diverse collection of incentive tools, mostly short term, designed to stimulate trial, or quicker or greater purchase, of particular products or services by consumers or the









