MKT571 MKT/571 Final Exam (28/30) - 57222

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MKT571 MKT/571 Final Exam (28/30)

1. Another basis for decision-making is referred to as ethical practices

2. New-to-the-world products are ________. 

3. 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.

4. 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 ________.

5. 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 ________. 

6. 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? 

7. 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. ?

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

9. 2 Wheels 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 ________. 

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

11.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 ________. 

12.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? 

13.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?

14.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?

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

16.Which of the following can induce a firm to expand into the international arena? Cater to a domestic mass market

17.What are the four characteristics of a marketing audit? 

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

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

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

21.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 ________. 

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

23.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? 

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

25.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 ________. 

26. _______ is an approach that considers different ethnic and cultural segments require targeted marketing campaigns  27. 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 ________. 

28. 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? 

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

agenda________.

30. A social definition of marketing says ______. 

Solution Description

MKT571 MKT/571 Final Exam (28/30)

1. Another basis for decision-making is referred to as ethical practices

2. New-to-the-world products are ________. 

3. 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.

4. 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 ________.

5. 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 ________. 

6. 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? 

7. A music school i

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