MKT575 Week 5 Final Exam - New 2015 version - 89182

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anjis_devis

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  • From: Business, Marketing
  • Posted on: Sat 21 Mar, 2015
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1. Companies will use a __________ to contact and deliver product to the market target buyers. New idea strategy Product strategy Relationship strategy Value-chain strategy 2. __________ consist(s) of deciding the scope and purpose of the business, the objectives and the resources necessary to achieve the objectives. Corporate strategy Customer relationship management Market sensing Business and marketing strategy 3. The role of pricing often depends on how other components such as, advertising, sales promotion and distribution in the __________ are used. Marketing program Financial performance Competitive strategy Signal to the buyer 4. A __________ name, term, design, symbol or any other feature that identifies one seller's good or service as distinct from those of other sellers. Identity Brand Product Trademark 5. The flat, flexible __________ offer several advantages in implementation, since they encourage inter-functional cooperation and communication. These types are responsive to changing conditions. Plans Organization designs Communications Incentives 6. Low prices may be used to gain sales and __________. Achieve financial performance Stimulate demand Gain market share Create product positioning 7. Whole Foods Market, Inc. provides products that appeal to middle class buyers who have strong value preferences for natural foods and are willing to pay premium prices for the products that are not often available from other grocery retailers. This group of people is Whole Foods' ______. Brand centers Communications group Market target Mass market 8. Which of these initiatives would not be part of customer relationship management? Sales force productivity Recall market research Customer service and automated call centers Automated customer contact systems 9. The ___________ is the configuration of distribution channels linking with end-users. Distribution strategy Digital channels Value chain Retail strategy 10. _________ include attitudes, brand awareness and brand preference. Purchase behavior Demographic variables Use situation variables Buyers needs and preferences 11. A PEST Analysis of the macro-environment includes a review of • Product, Economy, Segmentation, Targeting, and Loyalty issues Political, Economic, Social, Technological, and Legal issues Positioning, Economic, Strategy, Technological, and Loyalty issues Product, Economic, Social, Technological, and Legal issues 12. The differences in buyers according to how they use products, the needs and preferences that the products satisfy and their consumption patterns create __________. Market segments One-size-fits-all Audience management Product differentiation 13. Defining the __________ is(are) (a) critical factor(s) that can be difficult to discern since it is easy to confuse symptoms with causes. Performance gap Problems and opportunities Dashboard gap Computer gap 14. __________ occurs when a product offering is perceived by the buyer as different from the competition on any physical or nonphysical product characteristic, including price. Product differentiation Routine High-involvement Low-involvement 15. Commercial air travel provides an interesting example also of the creation of new corporate __________ through strategic alliances, where the alliance becomes the identity such as the one world alliance, separate from the names of the two alliance partners, British Airways and American Airlines. Strategy Brands Resource Organization 16. Not acknowledging or responding to the threats and requirements of ___________ is the real danger. Even in markets assumed to be stable, innovation can quickly alter market space. Creation of new market space Fast changing markets Commodization of product designs Disruptive innovation 17. The __________ process provides an estimate of the profitability of a customer during the time span of the relationship. Customer net sales Customer recent profitability Net present value Customer lifetime value 18. ___________ offers a company the opportunity to focus its business on the requirements of one or more groups of buyers. Corporate strategy Strategic marketing Market segmentation Corporate responsiveness 19. Reasons for conducting a(n) ___________ include: starting an evaluation program, corporate restructuring, entry into new product and market areas, acquisitions and the impact of Internet-based business models. • Strategic marketing audit Balanced scorecard Communications plan Internal marketing plan 20. A ___________ is described by characteristics of people including why they buy and their preferences for brands of products. Customer relationship management system Market segment Strategic marketing objective Corporate capability 21. __________ measure(s) consumers' awareness of specific ads and campaigns by asking questions to determine if a sample of people remembers an ad. Test marketing Longitudinal studies Recall tests Analyzing historical data 22. _________ provide(s) simpler and less costly ways to match the value requirements offered by the products of incumbent firms serving the market. Disruptive innovation Fast changing markets Commodization of product designs Creation of new market space 23. __________ is the process of identifying and analyzing sub-groups of buyers in a product-market with similar response characteristics. Audience management Product differentiation Market segmentation One-size-fits-all 24. _________ track(s) advertising expenditures and sales results before, during and after an advertising campaign. Recall tests Analyzing historical data Longitudinal studies Test marketing 25. BMW's __________ for the new Mini, as a life-style vehicle, included describing the care as quintessentially cool with its biggest selling point being its individualistic appeal. Value requirements Market targeting Segmentation design Positioning strategy 26. The product, distribution, price and promotion strategy components are the marketing __________. Mix Target Idea Relationship 27. A __________ seeks to have the brand own a place in the eyes and mind of the buyer and the product be distinguished from the products of the competition. Positioning strategy Strategic market Market target Customer relationship strategy 28. What defines the corporation and what provides guidelines for managing the corporation is __________? Corporate vision Corporate strategy Business and marketing strategy Customer relationship management 29. ___________ consists of planning, implementing and controlling an organization's communications to its customers and other target audiences. Promotion Advertising Sales promotion Personal selling 30. __________ consists of any form of non-personal communication concerning an organization, product or idea that is paid for by a specific sponsor. The sponsor makes payment for the communication via one or more forms of media (e.g., television, radio, magazine, newspaper, online). Advertising Personal selling Promotion Sales promotion
Solution Description

1. Companies will use a __________ to contact and deliver product to the market target buyers.

New idea strategy

Product strategy

Relationship strategy

Value-chain strategy

 2. __________ consist(s) of deciding the scope and purpose of the business, the objectives and the resources necessary to achieve the objectives.

Corporate strategy

Customer relationship management

Market sensing

Business and marketing strategy

3. The role of pricing often depends on how other components such as, advertising, sales promotion and distribution in the __________ are used.

Marketing program

Financial performance

Competitive strategy

Signal to the buyer

4. A __________ name, term, design, symbol or any other feature that identifies one seller's good or service as distinct from those of other sellers.

Identity

Brand

Product

Trademark

5. The flat, flexible __________ offer several advantages in implementation, since they encourage inter-functional cooperation and communication. These types are responsive to changing conditions.

Plans

Organization designs

Communications

Incentives

6. Low prices may be used to gain sales and __________.

Achieve financial performance

Stimulate demand

Gain market share

Create product positioning

7. Whole Foods Market, Inc. provides products that appeal to middle class buyers who have strong value preferences for natural foods and a

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