WKU MKT220 FINAL EXAM FALL 2014 - 78287

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QUESTION 1 Of the following choices, which would be the easiest brand name to legally protect? a. Western County Distributors b. Tarzink Yogurt c. Scout Camping Supplies d. Sullivan Water Filtering Systems e. Learn and Grow Daycare 2 points QUESTION 2 A product mix is best described as a. all products offered by a firm. b. many products sold by one firm. c. a group of closely related products that are considered a unit because of market, technical, or end-use considerations. d. product, distribution, promotion, and price. e. all products of a particular type. 2 points QUESTION 3 To make intangible products more tangible or real to the consumer, marketers often a. use external reference prices. b. use symbols or cues to help symbolize product benefits. c. use multiple channels of distribution. d. offer more support services with such products. e. use low prices on intangible goods. 2 points QUESTION 4 The Anderson Advertising Agency was developing a name for their client’s new paper towel product. They finally settled on the name, “Soaker.” Regarding the factors that marketers consider when selecting a brand name, which one does this best fulfill? a. Keeping the brand name easy to remember b. Flexibility to be used in various types of media c. Indicating the product's major benefits d. Using fabricated names that cannot be duplicated e. Compatibility with other products in the line 2 points QUESTION 5 Sales usually start to decline during the ____ stage of the product life cycle. a. beginning of the decline b. end of the growth c. beginning of the growth d. beginning of the termination e. end of the maturity 2 points QUESTION 6 Which of the following statements about nonprice competition is false? a. A firm using nonprice competition can build loyalty to both its company and its products. b. When using nonprice competition, a company should promote the distinguishing characteristics of its brand. c. Companies that use nonprice competition do not need to keep track of their competitor's prices. d. A company must be able to distinguish its brand through some unique feature in order to successfully engage in nonprice competition. e. Buyers must view the distinguishing characteristics of a product offered through nonprice competition as being important. 2 points QUESTION 7 Price is considered to be the variable in the marketing mix that is a. First to be decided. b. Least flexible. c. Most difficult. d. Last to be decided. e. Most flexible. 2 points QUESTION 8 One advantage of nonprice competition is that a. a firm can build customer loyalty. b. pricing is no longer a factor. c. market share becomes less important. d. a firm can react quickly to competitive efforts. e. marketing efforts are completely eliminated. 2 points QUESTION 9 Sony management decided to use skimming as a pricing strategy for its newest line of high-definition television (HDTV) sets. It should be aware that this strategy does not a. provide flexibility in the introductory base price. b. reduce the stress that may be placed on the firm's production capabilities. c. generate capital to cover research and development costs. d. protect the firm from covering costs if prices are set too low. e. discourage competitors from entering the market. 2 points QUESTION 10 When a company that produces computer printers prices them somewhat low, but the ink required to operate the printer is priced higher per relative usage, it is using a. penetration pricing. b. captive pricing. c. a price leader. d. bait pricing. e. price lining. 2 points QUESTION 11 Paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation is a. personal selling. b. advertising. c. public relations. d. individual promotion. e. personal promotion. 2 points QUESTION 12 Latisha works for a promotional consultant who develops sweepstakes, games, coupons, and rebate plans for various marketers. Latisha is developing which of the following? a. publicity examples. b. direct marketing techniques. c. advertising techniques. d. personal selling techniques. e. sales promotion techniques. 2 points QUESTION 13 Chris sees a television commercial for Arby's promoting its roast beef sandwiches at 5 for $5.95. Later that day he goes to the nearest Arby's for a roast beef feast, but is told that the special offer is not available at that location. Arby's seems to lack a. channel capacity. b. promotional efforts. c. integrated marketing communications. d. coordinated awareness. e. communication. 2 points QUESTION 14 The Sharper Image likes to use nonpersonal communication in news story form such as press releases for its new and improved products. This is an example of a. sales promotion. b. publicity. c. personal selling. d. direct marketing. e. social media. 2 points QUESTION 15 A major benefit of using event sponsorship is that it a. is cost-free. b. neutralizes the effects of unfavorable public relations. c. enhances personal selling efforts. d. can provide large amounts of free media coverage. e. provides excellent support for advertisements. 2 points QUESTION 16 Children often achieve ____ by observing parents and older siblings in purchase situations and then through their own purchase experiences. a. consumer socialization b. social class c. personality d. attitude formation e. role identification 2 points QUESTION 17 A major determining factor in deciding which type of problem-solving process should be used depends on the individual's intensity of interest in a product and the importance of the product for that person. This is known as an individual's a. level of involvement. b. routinized response behavior. c. motivational structure. d. evaluative criteria. e. cognitive dissonance. 2 points QUESTION 18 The three major categories of influences on the consumer buying decision process are: a. social influences, situational influences, and marketer-dominated influences. b. situational influences, social influences, and psychological influences. c. situational influences, demographic influences, and psychological influences. d. marketer-dominated influences, psychological influences, and person-specific influences. e. demographic influences, situational influences, and marketer-dominated influences. 2 points QUESTION 19 In a period of economic recovery, the best marketing strategy for FedEx would be characterized by which of the following features? a. Austerity b. Boldness c. Flexibility d. Aggressiveness e. Retrenchment 2 points QUESTION 20 Many aspects of consumer buying decisions are affected by the individual's level of involvement. Level of involvement is a. the amount of external search that an individual puts into the decision-making process. b. the importance and intensity of interest in a product in a particular situation. c. a combination of an individual's demographic factors. d. the particular circumstance or environment in which consumers find themselves. e. the buyer's perception, motives, and abilities. 2 points QUESTION 21 If Hefty Bags expresses concern that its products are having too great an impact on the pollution of ground water under landfills, this concern is directly related to the firm’s social responsibility. marketing concept. profitability. ethics. distribution system. 2 points QUESTION 22 In testing her firm’s new TV ads for Pokémon action figures, Beth discovers the ads make children think many of the action figures can actually fly. Beth now faces an ethical decision regarding which element of the marketing mix? Product Price Distribution Promotion Strategy 2 points QUESTION 23 Sometimes business must find a balance between society’s demand for social responsibility and investors’ desires for profits. This is an example of a(n) ___________ responsibility. ethical legal cost philanthropic economic 2 points QUESTION 24 Cameron Inc. is a very profitable automobile repair shop. The company is well known for its great service and involvement in the community, but it fails to properly dispose of its used oil as outlined in environmental regulations. Cameron is failing in its ______ responsibilities. legal ethical economic philanthropic strategic 2 points QUESTION 25 The Browardton Quilters’ Guild has contacted all the major networks to try to warn people about the poor performance of miniature, hand-held sewing machines. These quilters are engaging in publicity stunts. the right to safety. consumerism. lobbying. political action. 2 points QUESTION 26 The undifferentiated targeting strategy for finding a target market will likely not be successful if a. people within the market have heterogeneous needs. b. the firm is capable of developing a single marketing mix that satisfies all people's needs. c. product positioning is needed. d. the firm defines the total market as its target market. e. people within the market have homogeneous needs. 2 points QUESTION 27 A business advantage of the concentrated targeting strategy for any company is that it a. requires less market research and information. b. allows a firm to utilize all of its production capacity. c. requires less intensive analysis of customers' characteristics and needs. d. maintains the firm's flexibility in moving into other market segments. e. allows a firm to develop a special marketing mix for a single market segment. 2 points QUESTION 28 A targeting strategy in which an organization directs its marketing efforts at several segments is called a(n) ____ targeting strategy. a. total market b. undifferentiated c. concentrated d. integrated e. differentiated 2 points QUESTION 29 Segmentation variables are usually grouped into four categories: a. attitudes, lifestyles, behaviors, and gender. b. demographic, geographic, psychographic, and behavioristic. c. demographic, geographic, religion, and income. d. geographic, demographic, psychographic, and attitudes. e. geopolitical, income, behavioristic, and psychographic. 2 points QUESTION 30 The ProMark Company manufactures a pencil that is about five inches long and has no eraser. It sells the product primarily to golf courses and universities. What type of targeting strategy is the ProMark Company using? a. Extensive b. Intensive c. Differentiated d. Concentrated e. Undifferentiated 2 points QUESTION 31 The forces of the marketing environment primarily affect marketers in three ways: They influence customers by affecting their lifestyles and preferences for products; they determine whether or how a marketing manager can perform certain marketing activities; and they a. dictate that changes be made to the existing marketing mix despite any negative reactions from customers. b. affect a marketing manager's decisions and actions by influencing buyers' reactions to the firm's marketing mix. c. change a customer's decisions about the appropriate marketing mix for the company and its various products. d. cause most advertising to be ineffective at communicating product benefits due to rapidly changing environmental forces. e. make most new products obsolete very quickly so that research and development must continually develop new products. 2 points QUESTION 32 The equation a buyer applies to assess a product's value is a. value = monetary price - customer benefits. b. value = customer costs - customer benefits. c. value = customer benefits - customer costs. d. value = customer benefits - time and effort. e. value = customer benefits - monetary price. 2 points QUESTION 33 The focal point of all marketing activities is a. profits. b. the marketing mix. c. products. d. sales. e. customers. 2 points QUESTION 34 Marketing is the process of a. promoting products through personal selling and advertising to develop and maintain favorable relationships with customers and stakeholders. b. focusing on customers' needs. c. creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment. d. delivering a standard of living to a society. e. creating, distributing, promoting, and pricing goods, services, and ideas to facilitate the achievement of the firm's objectives. 2 points QUESTION 35 Making modifications to packaging or brand names involves the ____ component of the marketing mix. a. product b. promotion c. market d. price e. distribution 2 points QUESTION 36 Consumers buying products online have dramatically affected the ____ variable of the marketing mix. a. distribution b. product c. research d. price e. promotion 2 points QUESTION 37 Which of the following is most likely to be an idea marketer? a. Car salesperson b. Attorney c. Airline pilot d. Orthodontist e. Abuse counselor 2 points QUESTION 38 Boca Burger's website features information about products, recipes, and nutritional values, but customers cannot actually purchase products from the website. This website is most likely used primarily as a ____ marketing tool. a. production b. pricing c. promotional d. targeting e. distributional 2 points QUESTION 39 The definition of marketing implies that ____ should receive benefits from exchange relationships. a. only businesses b. company management c. only customers d. only the most important customers e. both customers and businesses 2 points QUESTION 40 When Ikea showcases rooms of furniture on its website, it lists each item in the room. However, if customers like all of the items, they can purchase them as a bundle. Which of the following aspects of the marketing mix is Ikea likely altering? a. Promotion b. Distribution c. Product d. Target market e. Price 2 points QUESTION 41 In managing customer relationships, the three primary ways profits can be obtained are by a. enhancing the profitability of existing customers, eliminating customers who provide smaller profits, and finding new customers. b. enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers. c. eliminating long-term customers who have decreased purchases, finding new customers, and increasing sales to existing customers. d. extending the length of relationships with customers, cutting organizational costs, and enhancing the profitability of new customers. e. acquiring new customers, enhancing the profitability of new customers, and shortening the duration of relationships with existing customers. 2 points QUESTION 42 Marketing managers strive to develop a marketing mix that a. generates the highest level sales. b. matches the needs of the target market. c. matches what competitors are offering. d. minimizes marketing costs. e. best matches the abilities of the firm. 2 points QUESTION 43 The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a(n) a. issue. b. experience. c. service. d. good. e. idea. 2 points QUESTION 44 The three basic forms that a product can take are a. brands, services, and tangibles. b. markets, products, and images. c. services, ideas, and goods. d. goods, ideas, and intangibles. e. ideas, services, and things. 2 points QUESTION 45 Which of the following scenarios involves the distribution element of the marketing mix? a. Determining whether an advertising message would be more effective on television or in magazines b. Developing a new warranty policy for an existing product c. Deciding whether or not a certain product should continue to be sold d. Deciding whether or not to have retail outlets in addition to a website e. Choosing between a company jet or the airlines for executive travel 2 points QUESTION 46 The advertising campaign for Crest toothpaste lets consumers know about its newest flavor, and also mentions its history as an established brand. The ad also mentions Crest’s advantages and benefits. Crest’s advertising would be classified as a. repetitive. b. pioneer. c. competitive. d. reinforcement. e. reminder. 2 points QUESTION 47 Soft drink companies advertise that their products beat the competition in national "taste tests," and they refer to the rival brands by name. This type of advertising is best described as a. comparative. b. pioneer. c. competitive. d. defensive. e. selective. 2 points QUESTION 48 The two major types of product advertising are a. informative and comparative. b. competitive and comparative. c. advocacy and competitive. d. institutional and advocacy. e. pioneer and competitive. 2 points QUESTION 49 The cost per thousand (CPM) indicator shows a. the cost to expose 1,000 people to a television commercial. b. how one media source compares to a different source for reaching target markets. c. the cost to expose a million people to any type of advertisement. d. the cost to expose 1,000 people to a one-page magazine advertisement. e. the return on investment marketers get for their advertising dollar. 2 points QUESTION 50 Toyota's sponsorship of a major Professional Golf Association tournament would be an example of a(n) ____ tool. a. personal selling b. advertising c. sales promotion d. publicity e. public relations
Solution Description

QUESTION 1

Of the following choices, which would be the easiest brand name to legally protect?

a.  Western County Distributors

b. Tarzink Yogurt

c. Scout Camping Supplies

d. Sullivan Water Filtering Systems

e. Learn and Grow Daycare

2 points

QUESTION 2

A product mix is best described as

a. all products offered by a firm.

b. many products sold by one firm.

c. a group of closely related products that are considered a unit because of market, technical, or end-use considerations.

d. product, distribution, promotion, and price.

e. all products of a particular type.

2 points

QUESTION 3

To make intangible products more tangible or real to the consumer, marketers often

a. use external reference prices.

b. use symbols or cues to help symbolize product benefits.

c. use multiple channels of distribution.

d. offer more support services with such products.

e. use low prices on intangible goods.

2 points

QUESTION 4

The Anderson Advertising Agency was developing a name for their client’s new paper towel product. They finally settled on the name, “Soaker.” Regarding the factors that marketers consider when selecting a brand name, which one does this best fulfill?

a. Keeping the brand name easy to remember

b. Flexibility to be used in various types of media

c. Indicating the product's major benefits

d. Using fabricated names that cannot be duplicated

e. Compatibility with other products in the line

2 points

QUESTION 5

Sales usually start to decline during the ____ stage of the product life cycle.

a. beginning of the decline

b. end of the growth

c. beginning of the growth

d. beginning of the termination

e. end of the maturity

2 points

QUESTION 6

Which of the following statements about nonprice competition is false?

a. A firm using nonprice competition can build loyalty to both its company and its products.

b. When using nonprice competition, a company should promote the distinguishing characteristics of its brand.

c. Companies that use nonprice competition do not need to keep track of their competitor's prices.

d. A company must be able to distinguish its brand through some unique feature in order to successfully engage in nonprice competition.

e. Buyers must view the distinguishing characteristics of a product offered through nonprice competition as being important.

2 points

QUESTION 7

Price is considered to be the variable in the marketing mix that is

a. First to be decided.

b. Least flexible.

c. Most difficult.

d. Last to be decided.

e. Most flexible.

2 points

QUESTION 8

One advantage of nonprice competition is that

a. a firm can build customer loyalty.

b. pricing is no longer a factor.

c. market share becomes less important.

d. a firm can react quickly to competitive efforts.

e. marketing efforts are completely eliminated.

2 points

QUESTION 9

Sony management decided to use skimming as a pricing strategy for its newest line of high-definition television (HDTV) sets. It should be aware that this strategy does not

a. provide flexibility in the introductory base price.

b. reduce the stress that may be placed on the firm's production capabilities.

c. generate capital to cover research and development costs.

d. protect the firm from covering costs if prices are set too low.

e. discourage competitors from entering the market.

2 points

QUESTION 10

When a company that produces computer printers prices them somewhat low, but the ink required to operate the printer is priced higher per relative usage, it is using

a. penetration

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