MKT 421 Final Exam Guide. 57/57. Get an A++. - 63310

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1) Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of

 

2) For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is:

 

3) According to the text, marketing means:

 

4) To compete more successfully with its many competitors offering packaged cookies, Famous Amos added its own line of extra chunky premium cookies. This seems to be an effort at:

 

5) Professional Dental Supply has been successfully selling dental instruments to dentists for the past 20 years, and has developed strong customer relations. When looking for new marketing opportunities, Professional Dental Supply will most likely look first at

 

6) Which of the following statements regarding marketing strategies is FALSE?

 

7) The marketing mix

 

8) A firm’s marketing mix decision areas would NOT include:

 

9) Product is NOT concerned with:

 

10) When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:

 

11) Dell, Inc. wants to offer customers televisions in addition to computers. This is a change in their _____________________

 

12) Big Fizz Co., a manufacturer of cola-flavored drinks, wants to add packaged fruit juices to its existing product line. Big Fizz must make some decisions regarding packaging and branding of the fruit juices. These decisions would fall under which variable of the marketing mix?

 

13) A marketing plan is:

 

14) The main difference between a marketing strategy and a marketing plan is that:

 

15) Which of the following would probably NOT be in a proposed marketing plan?

 

16) Marketing strategy planners should recognize that:

 

17) Good marketing strategy planners know that:

 

18) Target marketing, in contrast to mass marketing

 

19) Clustering techniques applied to segmenting markets

 

20) The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable marketing mixes is called:

 

21) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

 

22) A ______________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions.

 

23) ________________ ________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions.

 

24) Procedures that develop and analyze new information to help marketing managers make decisions are called:

 

25) The part of the relevant population that is surveyed by a researcher is called the:

 

26) One of the major disadvantages of the focus group interview approach is that

 

27) When focus group interviews are used in marketing,

 

28) The marketing manager at Massimino & McCarthy, a chain of retail stores that sells men’s clothing, is reviewing marketing research data to try to determine if changes in marketing strategy are needed. Which of the following sources of data would be a secondary data source?

 

29) A small manufacturing firm has just experienced a rapid drop in sales. The marketing manager thinks that he knows what the problem is and has been carefully analyzing secondary data to check his thinking. His next step should be to:

 

30) The observing method in marketing research:

 

31) Market segmentation:

 

32) Which is the first step in market segmentation?

 

33) The first step in market segmentation should be:

 

34) Which of the following is NOT one of the text’s product life cycle stages?

 

35) Which of the following is a DEMOGRAPHIC segmenting dimension?

 

36) The product life cycle has four stages. Which of the following is NOT one of these?

 

37) Regarding product life cycles, which of the following is NOT true?

 

39) An industry’s sales have leveled off and profits are declining in oligopolistic competition. Consumers see competing products as homogeneous. Several firms have dropped out of the industry, but a new one entered recently. Firms in the industry are trying to avoid price-cutting by spending on persuasive advertising. These firms are competing in which stage of the product life cycle?

 

40) Noise (in the traditional communication process) refers to:

 

41) SGCA is having a sales contest to encourage retailers to quickly reduce the inventory of SuperGamer computers. Retailers with the highest sales during the next month win an expense paid trip to a special dealer meeting at a resort in Hawaii. This is A. An example of cooperative advertising.

 

42) Price reductions given to channel members to encourage them to advertise or otherwise promote a firm’s products locally are:

 

43) The Canyonlands Corporation is introducing a new product next month. To prepare for the introduction, the marketing manager is having his sales force call on distributors to explain the unique features of the new product, how the distributors can best promote it, and what sales volume and profit margins they can reasonably expect. In addition, Canyonlands is budgeting 2% of its estimated sales for magazine advertising. This is an example of:

 

44) American Tourister, Inc.—a producer of luggage—is planning to introduce a new product line. The marketing manager is having her sales force call on retailers to explain American Tourister’s consumer advertising plans, the unique features of the new luggage, how the distributors can best promote it, and what sales volume and profit margins they can reasonably expect. This is an example of:

 

45) A producer using very aggressive promotion to get final consumers to ask intermediaries for a new product has:

 

46) Which of the following statements about positioning is NOT TRUE?

 

47) Positioning analysis

 

48) Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided NOT to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the

 

49) Which of the following is NOT a trend affecting marketing strategy planning in the area of international marketing?

 

50) When a company grows globally, this is an example of:

 

51) A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

 

52) Which of the following is a key trend affecting marketing strategy planning?

 

53) Which of the following statements DOES NOT indicate that a marketing manager is about to make a serious mistake?

 

54) Identify the incorrect statement about sales promotions.

 

55) Many Internet sites, such as Autobytel.com and Edmunds.com, have extensive information about the prices of new and used vehicles that anyone can use for free. In light of the availability of this information, what is the responsibility of consumers to use it?

 

56) Which of the following statements about ethical behavior in business is true?

 

57) The future poses many challenges for marketing managers because:

Solution Description

1) Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of

 

2) For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is:

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