MKT 421 Final Exam study guide ( Guaranteed A+ work!) - 77837

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1) 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 the fruit juices. These decisions would fall under which variable of the marketing mix? A. Product B. Place C. Promotion D. Price 2) Hewlett-Packard sells personal computers through specialty computer stores, electronics superstores, and its own Internet site. What is the marketing mix variable that is being considered here? A. Price B. Promotion C. Product D. Place 3) Marketing strategy planners should recognize that: A. target markets should not be large and spread out B. mass marketing is often very effective and desirable C. large firms like General Electric, Target, and Procter & Gamble are too large to aim at clearly defined markets D. target marketing is not limited to small market segments 4) Target marketing, in contrast to mass marketing, A. is limited to small market segments B. assumes that all customers are basically the same C. ignores markets that are large and spread out D. focuses on fairly homogeneous market segments 5) The process of naming broad product-markets and then dividing them in order to select target markets and develop suitable A. market penetration B. market segmentation C. market development D. market research 6) ______________ 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. A. Market positioning B. Market segmentation C. Mass marketing D. Diversification 7) Marketing research which seeks structured responses that can be summarized is called A. focus group research B. quantitative research C. qualitative research D. situation analysis research 8) One of the major disadvantages of the focus group interview approach is that A. ideas generated by the group cannot be tested later with other research B. it is difficult to measure the results objectively C. it is difficult to get in-depth information about the research topic D. there is no interviewer, so the research questions may not be answered 9) When focus group interviews are used in marketing, A. each person in the group answers the same questionnaire, to focus the discussion B. the typical group size is 15 to 20 typical consumers whether online or off-line C. it is primarily as a follow-up to more quantitative research D. the research conclusions will vary depending on who watches the interview whether online or off-line 10) Focus groups A. are usually composed of 10 to 15 people as participants B. yield results that are largely dependent on the viewpoint of the researcher C. always do a good job of representing the broader target market D. have a low cost per participant 11) 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 A. conduct an experiment B. develop a formal research project to gather primary data C. conduct informal discussion with outsiders, including intermediaries, to see if he has correctly defined the problem D. develop a hypothesis and predict the future behavior of sales 12) 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? A. Looking through the company's marketing information system to see past sales trends B. Reviewing videotapes of a recent focus group C. Making phone calls to some of the best customers to learn their interest in a new line of clothing D. Spending time in stores observing customers' behavior 13) Which of the following statements about consumer products is true? A. Convenience products are those that customers want to buy at the lowest possible price. B. Shopping products are those products for which customers usually want to use routinized buying behavior. C. Specialty products are those that customers usually are least willing to search for. D. Unsought products are not shopped for at all. 14) The attitudes and behavior patterns of consumers making a purchasing decision are part of the A. political environment B. social and cultural environment C. competitive environment D. firm's resources and objectives 15) The observing method in marketing research A. uses personal interviews B. may require customers to change their normal shopping behavior C. is used to gather data without consumers being influenced by the process D. is not suitable for obtaining primary data 16) The first step in market segmentation should be A. deciding what new product you could develop B. evaluating what segments you currently serve C. finding a demographic group likely to use your products D. defining some broad product-markets where you may be able to operate profitably 17) The product life cycle A. describes the stages a new product idea goes through from beginning to end B. has three major stages C. applies to categories or types of products as opposed to brands D. shows that sales and profits tend to move together over time 18) Which of the following is one of the product life cycle stages? A. Market analysis B. Market growth C. Market feedback D. Market research 19) While watching a television program, Liza gets a phone call just as a commercial is starting. She presses the mute button on the television's remote control and takes the call, so she pays no attention to the commercial. In terms of the communication process, the telephone call is an example of what? A. Encoding B. Noise C. Decoding D. Feedback 20) Which of the following functions are performed by wholesalers in the channel of distribution? A. Providing information to retailers B. Placing radio advertisements for retailers C. Placing newspaper advertisements for retailers D. Providing goals for retailers 21) Typically the ______________ and the marketing manager are responsible for building good distribution channels and implementing place policies. A. public relations manager B. sales manager C. advertising manager D. human resources manager 22) 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. probably illegal because it might encourage price competition among retailers B. an example of cooperative advertising C. the type of promotion that continues to impact sales even after the promotion is over D. an example of a manufacturer using trade sales promotion in the channel 23) Advertising allowances A. are incentive monies given to firms further along in the channel to encourage them to advertise or otherwise promote the firm's products B. involve intermediaries and producers sharing in the cost of ads C. allow for coordination and integration of ad messages in the channel D. set the allowance amount as a percent of the retailer's actual purchases 24) Price reductions given to channel members to encourage them to promote or otherwise promote a firm's products locally are A. quantity discounts B. brokerage allowances C. push money allowances D. advertising allowances 25) A producer using very aggressive promotion to get final consumers to ask intermediaries for a new product has A. a pulling policy B. a target marketing policy C. a selective distribution policy D. a pushing policy 26) Nantucket Hammocks, Inc., uses dealer incentives, discounts, and sales contests in order to encourage retailers to give special attention to selling its products. Nantucket Hammocks is using A. exclusive distribution B. a corporate channel system C. dual distribution D. pushing 27) 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 A. combined target market approach B. single target market approach C. multiple target market approach D. mass marketing approach 28) When segmenting broad MKT 421 Final Exam product-markets, cost considerations tend A. to encourage managers to disregard the criterion that a product-market segment should be substantial B. to lead to more aggregating C. to be unimportant as long as the segmenting dimensions are operational D. to lead to a large number of small, but very homogeneous, product-market segments 29) ______________ focuses on introducing new products to existing markets. A. Market development B. Product development C. Diversification D. Market penetration 30) When a company grows globally by introducing existing product lines to new markets, this is an example of what? A. Market development B. Product development C. Diversification D. Market penetration
Solution Description

1) 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 the fruit juices. These decisions would fall under which variable of the marketing mix?
A. Product 
B. Place 
C. Promotion 
D. Price

2) Hewlett-Packard sells personal computers through specialty computer stores, electronics superstores, and its own Internet site. What is the marketing mix variable that is being considered here?
A. Price 
B. Promotion 
C. Product 
D. Place

3) Marketing strategy planners should recognize that:
A. target markets should not be large and spread out 
B. mass marketing is often very effective and desirable 
C. large firms like General Electric, Target, and Procter & Gamble are too large to aim at clearly defined markets 
D. target marketing is not limited to small market segments

4) Target marketing, in contrast to mass marketing,
A. is limited to small market segments 
B. assumes that all customers are basically the same 
C. ignores markets that are large and spread out 
D. focuses on fairly homogeneous market segments

5) The process of naming broad product-markets and then dividing them in order to select target markets and develop suitable
A. market penetration 
B. market segmentation 
C. market development

D. market research

 6) ______________ 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.

A. Market positioning 
B. Market segmentation 
C. Mass marketing 
D. Diversification

7) Marketing research which seeks structured responses that can be summarized is called
A. focus group research 
B. quantitative research 
C. qualitative research 
D. sit

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