MKT 421 multiple choice question use it as a guide only4
MKT 421 multiple choice question use it as a guide only4
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Date Created: 11/12/15
1 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 One of the universal functions of innovation A part of marketing A production activity An example of the micromacro dilemma 2 Which of the following statements best describes the modern view of marketing The job of marketing is to get rid of whatever the company is producing Marketing begins with anticipating Dotential customer needs Marketing should take over production accounting and financial services rm Marketing is concerned with generating a single exchange between a firm and a customer 3 According to the text marketing means A r Much more than selling and Mg quot 39 Selling Producing and selling Advertising 4 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 Market penetration Diversification Market development Market penetration it Product development 5 Which of the following statements regarding marketing strategies is FALSE It is useful to think of the marketing strategy planning process as a narrowing ess These strategies must meet the needs of target customers and a rm is elv to get a competitive advantage if it iust meets needs in the same way as some other firm Developing successful marketing strategies does not need to be a hitormiss proposition 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 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 Combination Market penetration Market development Product development 7 The four Ps of a marketing mix are Production Personnel Price and Physical Distribution Product Price Promotion and Profit Product Place Promotion and Price Promotion Production Price and People 8 A firm39s marketing mix decision areas would NOT include Promotion Price Product People 9 Which of the following is true The product P in the marketing mix stands for only physical goods The product P in the marketing mix stands for only tangible merchandise The product P in the marketing mix stands for both physical goods and The product P in the marketing mix stands for both thsical goods and services 10 Dell Inc wants to offer customers televisions in addition to computers This is a change in their pricing personnel product promotional 11 The area of the marketing mix is concerned with decisions about getting the right product to the target market when and where it is wanted Product Promotion Place People 12 HewlettPackard se11s personal computers through specialty computer stores electronics superstores and its own Internet site The marketing mix variable that is being considered here is Pricing Product Placement Promotional 13 The main difference between a marketing strategy and a marketing plan is that strategies Timerelated details are included in a marketing A marketing strategy omits pricing plans A marketing strategy provides more detail A marketing plan includes several marketing 14 A marketing plan is A marketing program A target market and a related marketing mix A marketing strategy plus the timerelated details for carrying it A marketing strategy 15 Which of the following is part of a complete marketing plan Competitors39 marketing strategies What company resources costs are required and at what rate How different marketing mixes for different target markets relate to each All of these 16 Marketing strategy planners should recognize that Target markets should not be large and spread out Target marketing is not limited to small m et segmenti 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 Mass marketing is often very effective and desirable 17 Target marketing in contrast to mass marketing A r Is limited to small market segments Focuses on fairly homogeneous market Ignores markets that are large and spread out Assumes that all customers are basically the same 18 Good marketing strategy planners know that Firms like Nabisco and WalMart are too large to aim at clearly defined target The terms mass marketing and mass marketer mean basically the same thing Mass marketing is often very desirable and effective Target marketing does not limit one to small market segments 19 The process of naming broad productmarkets and then segmenting them in order to select target markets and develop suitable marketing mixes is called Market penetration Market research Market segmentation 3913939 Market development 20 Clustering techniques applied to segmenting markets Usuallv require computers to group Deonle based on di l from market Remove the need for managerial judgment Eliminate the need for marketing managers to specify in advance What dimensions might be relevant for grouping consumers All of the above are true 21 is the process of naming broad productmarkets and then segmenting these broad productmarkets in order to select target markets and develop suitable marketing mixes Market positioning Diversification Market segmentation Mass marketing 22 Procedures that develop and analyze new information to help marketing managers make decisions are called Strategy planning MLketing Operational Analytical research 23 A is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions Marketing information Marketing research department Marketing information Marketing model Marketing research project 24 utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions Marketing MLketing research Marketing processing Marketing Are usually composed of 10 to 15 people as participants Are expensive compared to other marketing research methods Yield results that are largelv dependent on the viewpoint of the researcher Always do a good job of representing the broader target market 26 One of the major disadvantages of the focus group interview approach is that Ideas generated by the group cannot be tested later with other Lis dif cult to measure the results obiectivelv It is difficult to get indepth information about the research topic There is no interviewer so the research questions may not be answered 27 Marketing research which seeks structured responses that can be summarized is called Focus group research Quantitative research Qualitative research Situation analysis research 28 The observing method in marketing research Uses personal interviews May require customers to change their normal shopping behavior Is used to g her data without consumers being in uenced by the Is not suitable for obtaining primary data 29 The attitudes and behavior patterns of people are part of the Political environment Social and cultural environment Competitive environment Firm39s resources and objectives 30 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 Develop a formal research project to gather primary data Conduct informal discussion with outsiders including intermediaries to see if he has correctlv de ned the problem Develop a hypothesis and predict the future behavior of sales 31 The first step in market segmentation should be Deciding what new product you could develop Evaluating what segments you currently serve Finding a demographic group likely to use your products De ning some broad productmarkets where vou mgv be able to onerate p o 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 Market segmentation Strategic planning Mass marketing Market positioning 33 Which is the first step in market segmentation Finding one or two demographic characteristics to divide up the whole mass market fquot r Naming a broad productmarket of interest to the rm Evaluating market segments to determine if they are large enough Clustering people with similar needs into a market segment 34 Tom and Sally Jones are preparing to purchase a new car He currently has a Toyota Camry and she has a Honda Accord They now have two children under age 5 so they plan to trade in Sally39s car to purchase a minivan Sally and Tom decided on a Honda Odyssey because Sally is familiar with Hondas and thinks they are very reliable In this purchase situation Tom and Sally39s family life cycle stage is a segmentation dimension and the benefit Sally seeks reliability is a segmentation dimension Geographic demographic Demographic geographic Demogmnhic behavioral Geographic behavioral 35 The product life cycle Describes the stages a new product idea goes through from beginning to Shows that sales and profits tend to move together over time Has five major stages Applies more to individual brands than to categories or types of products 36 Which of the following is NOT one of the text39s product life cycle stages Market maturity Market growth Market penetration f Market introduction 37 Cargill Inc is finally earning a profit on the unique product it introduced 6 months ago Cargill39s advertising is both informative and persuasive Much money is being spent on Place development There is little price competition although several competitors have come outwith reasonable imitations Total industry sales and profits are both rising In which stage of the product life cycle is Cargill operating Market growth Market maturity fquot Market introduction Market growth Sales decline 38 During the MARKET INTRODUCTION stage of the product life cycle Large profits are typical until competition arrives Monev is invested in the hone of FUTURE pro ts Price and promotion are more important than Place and Product Much money is spent on Promotion while spending on Place is left until later 39 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 competing in which stage of the product life cycle Market growth Market introduction Market Market development 40 Noise in the traditional communication process refers to Any distractions Mt reduce the effectiveness of the communication Efforts by a firm39s competitors to block its message channel Radio advertising interference only Messages which are too loud or bold 41 Advertising allowances iquotEE A Are price reductions to rms further along in the channel to encourage them to advertise or otherwise promote the rm39s products locally Set the allowance amount as a percent of the retailer39s actual purchases Involve intermediaries and producers sharing in the cost of ads Allow for coordination and integration of ad messages in the channel 42 Typically the is responsible for building good distribution channels and implementing place policies EEEijisig if A Pubhc relatlons manager Human resources Sales manager Advertising manager 43 A producer using normal promotion efforts personal selling sales promotion and advertising to help sell a whole marketing mix to possible channel members has EEEi gig A A selectlve d1str1but10n policy A pushing policy A target marketing policy 355335 F D 39 An 1ntens1ve d1str1but10n policy 44 American Tourister Inc a producer of luggage is planning to introduce a new product line The marketing manager is having her sales force call on retailers to explain American Tourister39s consumer advertising plans the unique features of the new luggage how the distributors can best promote it and what sales volume and profit margins they can reasonably expect This is an example of A pulling policy A pushing policy Intensive distribution A pulling policy Selective distribution 45 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 example of Selective distribution A pushing policy A pulling policy Exclusive distribution 46 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 basic marketing mix appeal to both submarkets QCI is using the Combined target market am Mass marketing approach Single target market approach Multiple target market approach 47 When segmenting broad productmarkets cost considerations tend To encourage managers to disregard the criterion that a productmarket hould be substantial To lead to more aggregating To lead to a large number of small but very homogeneous productmarket segments To encourage managers to disregard the criterion that a productmarket segment should be substantial To be unimportant as long as the segmenting dimensions are operational 48 Which of the following statements about positioning is NOT TRUE It often makes use of techniques such as perceptual mapping It refers to how customers think about proposed or present brands in a market It helps marketing managers know how customers View the firm39s offering Positioning issues are especigllv important when competjtors in a market are very dissimilar 49 When a company grows globally this is an example of Market development Market penetration Diversification 50 A is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs Generic Standard Product Target market 51 Which of the following is NOT a trend affecting marketing strategy planning in the area of international marketing Tensions between have and havenot More attention to exporting by small companies Decreasing role of airfreight Global communication over the Internet 52 Which of the following is a key trend affecting marketing strategy planning Senior and ethnic submarkets are getting Slower newproduct development Growth of marketing information systems Less use of technology in personal selling 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 Sales manager39s Marketing executive39s 555555 355 Purchas1ng manager39s Procurement manager39s 54 Identify the incorrect statement about sales promotions Esra5555 A Sales promotions have Increased because of competition In emerging markets 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 can be used as tools to overcome consumer price resistance 55 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 55555531555 A Consumers should not use 1t because 1t g1ves them an unfa1r advantage over car dealers Consumers can use it but should not feel a responsibility to do so Consumers should not trust any information they receive from any source except the government Consumers have a responsibility to use the information and be smarter customers 56 Which of the following statements about ethical behavior in business is true 51391 F The legal environment sets the highest standards of ethical behavior aquotEE o o 0 39 The legal enVlronment 86W behavior The legal environment sets the normative standards of ethical behavior The legal environment sets the maximum standards of ethical behavior 57 The future poses many challenges for marketing managers because New technologies are making it easier to abuse consumers39 rights to It is marketing managers who have full responsibility to preserve our macro marketing system Social responsibility applies only to firms not to consumers The marketing concept has become obsolete
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