MKT 421 multiple choice question use it as a guide only8
MKT 421 multiple choice question use it as a guide only8
Popular in Course
verified elite notetaker
Popular in Department
This 0 page Study Guide was uploaded by tophomework Notetaker on Thursday November 12, 2015. The Study Guide belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 16 views.
Reviews for MKT 421 multiple choice question use it as a guide only8
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 11/12/15
Your passing grade is dependent upon you taking the exam yourself checking your answers against these and determining any discrepancies before submitting the exam It would be appreciated if you would let me know of any differences you might nd I hope you have found this answer helpful Your positive feedback will also be greatly appreciated If you need additional information or further assistance please message me Thanks for the opportunity to be of help Best wishes SPQR 1 According to the text marketing means 39i39 A 15 Advertising 3 iii Much more than selling and advertising C if Selling D 139 Producing and selling 2 For Tesla a new firm that makes an electric sports car estimating how many competitors will make electric vehicles and What kinds they will make is if A Qart of marketing A 5553 Br One of the universal functions of innovation The job of marketing is to get rid of Whatever the company is producing Marketing should take over production accounting and financial services Within a firm Marketing is concerned With generating a single exchange between a firm and a customer 4 Which of the following statements regarding marketing strategies is FALSE These strategies require decisions about the specific customers the firm Will target and the marketing mix the firm Will develop to appeal to that target market It is useful to think of the marketing strategy planning process as a narrowing down process These strategies must meet the needs of target customers and a rm is likelv to get a competitive advantage if it iust meets needs in the same wav as some other rm Developing successful marketing strategies does not need to be a hitormiss proposition 5 Professional Dental Supply has been successfully selling dental instruments to dentists for the past 20 years and has developed strong customer relations When looking for new marketing opportunities Professional Dental Supply Will most likely look first at D 139 Market development 6 To compete more successfully With its many competitors offering packaged cookies Famous Amos added its own line of extra chunky premium cookies This seems to be an effort at Includes four variables advertising personal selling customer serVice and A if sales promotlon ifquot Helps to organize the marketing strategy decision areas C if Production Personnel Price and Physical Distribution 15 Promotion Production Price and People 10 A firm39s decisions regarding channel type market exposure and kinds of intermediaries would fall under the marketing mix variable of 12 Big Fizz Co a manufacturer of cola avored drinks wants to add packaged fruit juices to its existing product line Big Fizz must make some decisions regarding packaging and branding of the fruit juices These decisions would fall under which variable of the marketing mix A if Competitors39 marketing strategies 3 E if What compgnv resources costs are required and at what rate How different marketing mixes for different target markets relate to each other All of these 15 A marketing plan is A if A target market and a related marketing mix F A marketing strategy 3 B ifquot Assumes that all customers are basically the same 5 C 15 Is limited to small market segments 3 B F Mass marketing is often very effective and desirable 3 C if Target markets should not be large and spread out Large firms like General Electric Target and Procter amp Gamble are too large to aim at clearly defined markets A 17 The terms mass marketing and mass marketer mean basically the same thing Target marketing does not limit one to small m et segments Firms like Nabisco and WalMart are too large to aim at clearly defined target markets Mass marketing is often very desirable and effective 19 is the process of naming broad productmarkets and then segmenting these broad productmarkets in order to select target markets and develop suitable marketing mixes Usuallv require computers to group people based on dag from market research B 1h Remove the need for managerial judgment Eliminate the need for marketing managers to specify in advance What dimensions might be relevant for grouping consumers D 1h All of the above are true 21 The process of naming broad productmarkets and then segmenting them in order to select target markets and develop suitable marketing mixes is called D if Market development 22 Procedures that develop and analyze new information to help marketing managers make decisions are called D 1h Analytical research 23 utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions A if39 Marketing research B if Marketing planning D 1 Marketing processing 24 A is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions A 1 Marketing research department Marketing information system Marketing research project D 1quot Marketing model D if Focal group 26 Marketing research Which seeks structured responses that can be summarized is called ifquot Situation analysis research D f Quantitative research 27 Focus groups 2 if Yield results that are largelv dependent on the viewpoint of the researcher 28 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 Conduct an experiment Conduct informal discussion with outsiders including intermediaries to see if he has correctly defined the problem Develop a formal research project to gather primary data 29 The observing method in marketing research D if Political environment 31 The first step in market segmentation should be I De ning some broad groductmarkets where vou mgv be able to onerate gro tably 32 is the process of naming broad productmarkets and then segmenting these broad productmarkets in order to select target markets and develop suitable marketing mixes A 1h Market positioning 1quot Market segmentation 33 Market segmentation A 1 Tries to identifv homogeneous submarkets within a groductmarket 2 if39 Describes the stages a new product idea goes through from beginning to end I 3 The product life cycle has four stages Which of the following is NOT one of these A if39 Economic competition 36 Which of the following is a DEMOGRAPHIC segmenting dimension A 1quot Type of problem solving 37 During the market introduction stage of the product life cycle A 1quot Most potential customers are quite anxious to try out the newproduct concept 1 Products usually show large profits if marketers have successfully carved out new B markets Considerable money is spent on promotion while place development is left until later stages 38 An industry39s sales have leveled off and profits are declining in oligopolistic competition Consumers see competing products as homogeneous Several firms have dropped out of the industry but a new one entered recently Firms in the industry are trying to avoid pricecutting by spending on persuasive advertising These firms are cmpeting in which stage of the product life cycle t A if Market development D 1h Market growth 39 Which of the following observations concerning the market maturity stage is NOT TRUE t A it New rms cannot enter the market at this stage D 1 Many aggressive competitors have entered the race for profits 40 While watching a television program Liza gets a phone call just as a commercial is starting She presses the mute button on the television39s 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 535 A if Decoding D if Encoding 41 Price reductions given to channel members to encourage them to advertise or otherwise promote a firm39s products locally are A 15quot Push money allowances Any distractions that reduce the effectjveness of the communication process Br 43 The Canyonlands Corporation is introducing a new product next month To prepare for the introduction the marketing manager is having his sales force call on distributors to explain the unique features of the new product how the distributors can best promote it and What sales volume and profit margins they can reasonably expect In addition Canyonlands is budgeting 2 of its estimated sales for magazine advertising This is an eample of A if Exclusive distribution 44 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 1h Dual distribution 1F Pushing D 1r A corporate channel system 4 Integrated directresponse promotion 1quot Is not necessary or useful When the channel of distribution involves intermediaries A Is usually part of a pushing effort rather than part of a pulling approach Focuses on achieving a measurable direct response from speci c target customers None of these are true 46 Positioning analysis A 1quot Is a visual aid to understanding a productmarket 47 Quality Ceramic Inc QCI defined five submarkets Within its broad productmarket 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 bsic marketing mix appeal to both submarkets QCI is using the A 1 Multiple target market approach 48 When segmenting broad productmarkets cost considerations tend A 1quot To be unimportant as long as the segmenting dimensions are operational To encourage managers to disregard the criterion that a productmarket segment should be substantial To lead to a large number of small but very homogeneous productmarket segments To lead to more aggregating 49 Which of the following is NOT a trend affecting marketing strategy planning in the area of international marketing A 1quot Global communication over the Internet 50 A is a market With very similar needs and sellers offering various close substitute ways of satisfying those needs A 1h Target market Product market 5 When a company grows globally this is an example of 5535 A if Diversification Identify the incorrect statement about sales promotions EE2E A 1h Changes in technology have made sales promotions more efficient The availability of more ad agencies and specialists has spurred growth in sales promotions Sales promotions have increased because of competition in emerging markets Sales promotions can be used as tools to overcome consumer price resistance 53 It is usually the job perhaps With help from specialists in technology to decide What types of sales technology tools are needed and how they Will be used A 1quot Marketing executive39s Sales manager39s C D if Procurement manager39s 54 Which of the following is a key trend affecting marketing strategy planning A 1 Less use of technology in personal selling 55 Which of the following statements about ethical behavior in business is true The legal environment sets the minimum standards of ethical M The legal environment sets the normative standards of ethical behavior The legal environment sets the highest standards of ethical behavior The legal environment sets the maximum standards of ethical behavior 56 Many Internet sites such as Autobytelcom and Edmundscom have extensive information about the prices of new and used vehicles that anyone can use for free In light of the availability of this information What is the responsibility of consumers to use it quot3m A 1quot Consumers can use it but should not feel a responsibility to do so 1quot Consumers have a responsibility to use the information and be smgrter 3 customers Consumers should not use it because it gives them an unfair advantage over car dealers Consumers should not trust any information they receive from any source except the government 5 The future poses many challenges for marketing managers because 5 25253152 It is marketing managers Who have full responsibility to preserve our macro marketing system The marketing concept has become obsolete New technoloaies are miking it easier to abuse consumers39 rights to privacy Social responsibility applies only to firms not to consumers
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'