Final Exam study guide
Final Exam study guide MKT 350
Popular in Intro to Marketing Principles
Popular in Marketing
This 9 page Study Guide was uploaded by Kalli Williams on Monday April 25, 2016. The Study Guide belongs to MKT 350 at Missouri State University taught by Carly Adams in Spring 2016. Since its upload, it has received 218 views. For similar materials see Intro to Marketing Principles in Marketing at Missouri State University.
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Date Created: 04/25/16
Test 1 1. Marketing is the process of… creating, distributing, promoting,.. the long answer 2. The focal point of all marketing activities is… customers 3. Question marks are characterized as… having a small share of the growing market and requiring large amounts of cash to build market share 4. To find a target market a firm can use… undifferentiated, concentrated, and differentiated strategy 5. Introducing organic brands companies have made their products now organic. These firms are responding to… cultural values 6. Which agency regulates marketing activities the most…. Federal Trade Commission 7. In marketing research a sample is best described as… limited number of units 8. 3 basic forms that a product can take… services, ideas, goods 9. Kaitlyn understands a small business like hers has obligations. What are the other obligation Kaitlyn should know… ethical and philanthropic 10. Which of the following survey methods can offer quick response at a lower cost… online surveys 11. Smart balance appears to use a ______ strategy in marketing its products to a target that is likely to be______.... differentiated and homogeneous 12. The introduction of the iPad was an example of…. Core competency 13. In response to the increase in demand for organic foods Wegmans, created organic food departments. The creation of these departments was a result of… market opportunity 14. Mattel views the toy market as composed 4 age groupings… differentiated and market segments 15. Primary advantage of concentrated targeting strategy is… allows a firm to specialize to meet specific customer needs 16. Consumer confidence and willingness to spend begins to increase during periods of… recovery 17. A cereal company advertises. This involves an ethical issue related to which element… promotion 18. Issues of inventory levels and storage costs are both concerns relating to the… distribution 19. Research designed to verify insights through an objective procedure… conclusive 20. Consumerism is… diverse group of individuals and organizations attempting to protect the rights of consumers 21. A valid study… measures what it is supposed to 22. Amazons pricing, service, and continuing investment in improving… competitive advantage 23. NOT a requirement or characteristic of a market… a large number of people or organization 24. Toyota has developed aluminum car bodies… proactive 25. Kashi heart to heart cereal is aimed at people concerned with heart health… target market 26. When marketers define their target market… competitors 27. ___________ competitors are those that… product 28. Marketing ethics… refers to principles and standards 29. If Starbucks were to donate 5%... cause-related marketing 30. When a firm designs a single marketing mix. The company is using____________ strategy… undifferentiated 31. Successful business organizations… strengths and opportunities 32. Scott is revising his law firms… measureable and relevant 33. The process of dividing a total market… segmentation 34. Socially responsible business practices… reducing marketing costs 35. Marketing mix 36. Characteristics of individuals, groups, or organizations… segmentation 37. Lexus segmentation strategy… demographic 38. If Campbell were to offer single serving… family life cycle 39. An informed guess… hypothesis 40. When DataCorp… product and promotion 41. Long-term relationships with profitable customers is key objective to… customer relationship management 42. The equation… value=customer benefits- customer costs 43. Companies that incorporate ethics and social… improve marketing performance 44. Better data= improvements in the ability to make decisions 45. All elements, individuals, or units of interest… population 46. Individuals, groups, or organizations with one or more similar… market segments 47. Target want to learn about its customers attitudes toward online products… primary; secondary 48. Students from a marketing research class… reliability 49. When working as a summer intern… secondary data 50. Proctor and Gamble… concentrated TEST 2 1. Marketing is the process of 2. What flavor McDonalds pie… Red bean 3. KFC has resturants in Mexico… Focus more on traditional promotions 4. Cognitive dissonance is… Doubts that occur because the buyer questions 5. Antonio is in the market for a new car… selective exposure 6. Business buying is false… order in business markets tend to be smaller than those places in consumer markets 7. Gross domestic product is… an overall measure of a nations economic standing 8. Shortly after moving into their new home… safety 9. Institutional markets are… organizations that seek nonbusiness goals 10. Due to consumer concern over privacy… Federal trade commission 11. Marketing mix 12. When the city of Chicago buys iPads… government purchase 13. A consumers buying behavior are affected in part by… social influences 14. Jennifer is interested in joining Kappa Lambda… reference group 15. When products are introduced into one nation from another… If there are similarities between the 2 cultures 16. The unconscious reference to ones own culture… self-reference criterion 17. Individuals purchase products for one of 3 reasons… resale, direct use in producing other products, use in general daily operations 18. Business markets are typically divided into 4 categories… producer, reseller, government, and institutional 19. Anne’s roadside market buys… reseller 20. Retailers like target and Wal-Mart… reseller 21. The US prohibition… embargo 22. Toy-R-US… Twitter 23. Problem recognition occurs… becomes aware when there is a difference between a desired state and an actual state 24. When Jordan J realizes… internal; external 25. When shopping for detergent… consideration 26. Marketer dominated sources of information except… friends 27. Inelastic demand… a price increase or decrease will not sig change the demand 28. The focal point of all marketing activities… customers 29. Two trends that have caused… increase of consumers sharing their opinions through digital media and the consumers mistrust of info from corporations 30. As a result of increasing uses of digital media… in the hands of the consumer 31. ________ refers to the idea that morality varies… cultural relativism 32. Missouri State will purchase new computers. The students will be_____ while purchasing agent will be________... influencer; decider 33. In China the price of imported scotch… import tariff 34. If Germany… Quota 35. Which of the following consumer decision making process… routinized response behavior 36. Agreement between US, Canada, and Mexico… NAFTA 37. High Plains Furnishing… domestic marketing and limited exporting 38. Goodyear is a manufacturer… derived 39. The ability of a marketer to identify customers before purchase… addressability 40. Purchase of products from a foreign source… importing 41. Tori went to Sam’s wholesale… limited decision making; impulse buying 42. Tony and Guy is engaging in… franchising 43. When the makers of red bull… advertising 44. Digital media have created… target specific markets 45. Distinguish online media from traditional marketing… addressability, interactivity, accessibility, connectivity, and affordability 46. Equation of buyer 47. Hobby Lobby encourages customers to visit their website… more authentic than company-generated content 48. A representative product… standard error 49. The US Navy purchases… straight rebuy 50. Red Bull has started introducing new product. The bloggers are… creators Test 3 1. Focal point… customers 2. Products are classified as being business or consumer products by… buyers intended use of product 3. Which of the following is not a common feature of a warehouse club… good customer service 4. Outback steakhouse was to expand its line of food… idea generation 5. Compared to goods marketers, services providers are more likely…. And price 6. Kara is a massage therapists… word of mouth 7. Channel decisions are important to marketers.. they involve long- term commitments and affect customer accessibility 8. Which of the following statements does not apply convenience goods… consumers are brand loyal 9. What is the primary distinction between line extension and a product modification.. with product modifications 10. When Buick experienced declining sales… mass media like tv commercials and billboards 11. The driving force behind marketing channel decisions… customer satisfaction 12. Category killers… low prices and enormous product availability 13. Which retail store invests the most in atmospherics… Bass Pro 14. According to Adweek article… Flexibility and up-to-date technology 15. Consumers receive the benefits of place utility… products are available where consumers want them 16. Consumers look closely at service quality… services are very difficult to evaluate 17. Marketing is the process of 18. Silk soymilks strategy of packaging… family packaging 19. Silk soymilk. Through its practice of________ packaging… multiple 20. Which of the following is NOT a function packaging strategy… less harmful to the environment 21. Being to offer silk soymilk chocolate ice cream bars… a brand extension 22. Pepsico has a new flavor.. Tourism is a major industry in the area 23. A new variety of Doritos.. roll-out approach 24. A product mix… all products offered by a firm 25. TGI Fridays repositioning the brand… lower prices to fit the preferences of the younger target market 26. The new improved Cheetos… aesthetic modification 27. Cheetos produces several cheese snack products… line extension 28. Cheetos was in which phase of new product development… test marketing 29. Cheetos stops production of Cheetos fat free crunchies… immediate drop decision 30. Intangibility aspect… consumers may have a problem evaluation service offerings 31. Shopping products have a ______ inventory turnover and need_______.... lower; fewer 32. Alex is preparing the new strategic plan… location 33. Jamie owns and operates a fitness apparel… atmospherics 34. The various products carried by a retailer. Product mix of bass pro shops is… wide; deep 35. Many services base their success on building a group of satisfied customer… client-based relationships 36. Taylor works for a company. Taylor most likely works for a_______ while the vending machine company is a_________... wholesaler; retailer 37. A first class airline ticket… core; supplementary 38. When Fiat offers… trial 39. The marketing mix 40. This method is called____________. If Scott wanted quick results it would be_________... SEO, SEM 41. What should marketers do to promote the consistency and reliability… train employees and develop standard procedures for dealing with customers 42. A general merchandise retailer offers… a variety of product lines that are stocked in depth 43. The equation a buyer applies 44. Heinz promoting its vinegar… maturity 45. During the introduction stage… negative and decreasing 46. When Amazon introduced its Kindle Fire… extensive level 47. The Pillsbury branding policy is… family branding 48. How does brand loyalty typically effect a customers decision… It provides an automatic measure of quality for all products 49. The Pillsbury brand name would be characterized as a… store 50. If Hanes produced a shirt with the Pillsbury dough boy on it… a brand extension Test 4 1. Mars incorporated makes snickers candy bars. Mars will focus its promotion efforts on… Advertising 2. Weather service interrupts to announce a flash flood warning for surrounding counties. This is an example of _________... Noise 3. Heather is most likely to achieve this through… Personal Selling 4. Communication that builds and maintains favorable relationships… Information 5. Gillette… Source 6. Ray-bans plan o gathering info about the other brans sold… Competition 7. Given Ray-bans plan for positioning the new sunglasses line… Price-skimming 8. Ray-ban has decided to promote the new sunglasses as an “affordable luxury”… Demand-based pricing 9. If Ray-ban decided to price the sunglasses at $60, $70, $80 it would be… Odd-even pricing 10. The verbal portion of an advertisement including headlines, body, signature… Copy 11. Selective demand is demand for… Particular brand 12. Verizon Wireless ran advertisements… Pulsing 13. “Orange juice is not just for breakfast anymore”… Primary demand 14. Jillian Michaels promotional effort… Identifying prospects 15. The cost of_______ is usually lower than the cost of__________... Retaining existing customers; acquiring new customers 16. Newspaper ads for Blue Haven Pools… Reducing sales fluctuations 17. Slow feedback, high absolute-dollar outlay, and difficulty measuring effects on sales… Advertising 18. Advertising, personal selling, sales promotion, and public relations are called… Promotion mix ingredients 19. Michael is planning a promotional even for AirFarm… Personal selling; More costly 20. When McDonalds uses the Monopoly game… Sales promotion 21. Latisha works for… Sales promotion techniques 22. The first stage in the development of any advertising campaign… Identifying advertising market 23. Chris Jarrett… Objective and task 24. If Target were to base its advertising appropriation on the amount Wal-Mart were to spend… Competition-matching 25. The maker of Huggies Diapers is developing a media plan… Frequency 26. The cost per thousand indicator shows… The cost to expose 1,000 people to a one-page magazine advertisement 27. Disney decided to run its new commercials… Flighting 28. One advantage of nonprice competition… A firm can build customer loyalty 29. If Wilson Sporting Goods… Quantity demand does down 30. Todd id developing a print advertisement for KFC… Headline; it is often the only part that is read 31. Which of the following is NOT a public relations tool… Product Sample 32. Television is popular advertising tool because… Has the ability to reach larger audiences 33. Why is publicity viewed as more important than other product mix items… Credibility of the message 34. One of the main disadvantages of publicity is… Lack of control 35. A measure of sensitivity of demand in relation to changes in price is… Price elasticity of demand 36. Mostarda an Italian-based mustard company… Mostarda mustard is a prestige good 37. Since VS has decided to use nonprice competition… rebates 38. Low cost, unusual, novel marketing.. Guerilla Marketing 39. Ben, a salesperson for DiVentures… Prospecting 40. The ________ stage of personal selling process is when salesperson asks the prospect to buy… Closing 41. When a salesperson asks the customer to buy the product… Trial Closing 42. As Quaker Oats tries to decide… Coupons 43. Which of the MOST likely to stimulate customer loyalty… Frequent-user incentives 44. Wheaties used to offer two free golf balls…. Premium 45. An arrangement in which a manufacturer pays a certain amount… Cooperative advertising 46. While sales contest can motivate employees at all levels to participate… People can discontinue their positive behavior after 47. When marketers emphasize price as an issue… Price Competition 48. When deciding on its advertising allocation for the coming year, State Farm… Competition-matching; Percent-of-sales 49. If State Farm were to decide that is previous message… A drop in sales would cause a drop in advertising budget 50. If State Farm decided it wanted to increase its customers by 10% in the coming year… Objectice-and-task
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