Mkt 571 multiple choice questions use it as a guide only3
Mkt 571 multiple choice questions use it as a guide only3
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Date Created: 11/17/15
1 Small companies can engage is marketing research in a number of quot3939 quotis A L iii g L 51 7 I 391 B 3939 L F C D F Using its own internal marketing research department Buying information from database companies like AC Nielsen Setting up their own web site Using an online information service such as the internet 2 A marketing information system MIS consists of An organized collection of comprehensive data about individual customers prospects or suspects that is currently accessible for marketing purposes The systematic design collection analysis and reporting of data and ndings relevant to a speci c marketing situation A set of procedures and sources used by managers to obtain everyday information and relevant developments in the marketing environment The people equipment and procedures to gather sort analyze evaluate and distribute needed timely and accurate information to marketing decision makers 3 When Molly39s parents retired they decided they wanted to travel They found an ideal job that allows them to travel for free but the only catch is they have to stay at Holiday Inns During each stay they test all the amenities offered by the motel and evaluate each The evaluation forms are sent to the motel headquarters where it becomes part of the motel39s systems Accountability information system AIS Experiential research data Marketing research Marketing intelligence 4 All of the following are steps in the marketing research process EXCEPT 515131 Compare data to government sources Collect the information De ne the problem and research objectives Present the ndings 5 The step in the marketing research process that includes determining who will be sampled is to Collect the information Develop the research plan De ne the problem and research objectives Make the decision based on the project outcomes 6 The second step in the marketing research process is Decision regarding the research tools and target group De ne the problem and research objectives Development of the research plan Collection of the available sources for information needed 7 Marketing information systems are developed from internal A B in False 8 The last step in marketing research is developing the research plan 3939quot I39 A f True B r False 9 Typically companies budget about 1112 percent of company sales for marketing research quotI39 A f True B in Fasle 10 Lowe39s home improvement stores strive to have nicer more knowledgeable salespeople a better product selection and to maintain an impeccable image These are all part of improving the Increasing the service value Reducing the product s monetary costs to the buyers Reducing the buyer s nonmonetary costs Increasing total customer value 11 is the difference between a prospective customer39s evaluation of all the bene ts and costs of an offering and the perceived alternatives EEquotI Customer delivered value Customer perceived value Total customer cost Customer relationship management 12 Which of the following is NOT a component part of total customer Psychic value Services value Product value Image value 13 An is likely to offer informal advice and Opinion leader Lt Aspirational reference group 5555 C P Primary reference group D Diversity marketing program 14 Each of the following is considered consumer behavior EXCEPT if Acceptance of a political idea Use of public transit Selection of a product Production of a concert 15 Within the United States Southerners Mormons and Native Cultures Psychologically de ned groups Social classes Subcultures 16 Business buying behavior differs from consumer buying behavior in tha Ira 39 The demand for businesigoods and services is derived from L consumer39s nal demand Answer TextBusinesses buy products to accomplish a single goal which varies by industry and business The buyers for the business market are typically more geographically dispersed than those for the consumer market and the demand for products and services in the consumer market is unaffected by price uctuations If Fewer people typically participate in or in uence business buying L decisions than in the consumer market 17 The institutional market is best described as having Derived demand geographically concentrated suppliers and budgetary constraints Contract negotiations and uctuating demand Low budgets and a captive clientele Demand elasticity and geographically concentrated suppliers 18 Business buyers E39E39E a39E39E Use geographical dispersion to keep shipping costs 0W 3 Are largely concentrated in the southwestern United States Are geographically as diverse as consumers Tend to be geographically concentrated with over half of L them in seven states 19 Which of the following is NOT an advantage of cobranding quot ga 39 Prowdes more opportunities With new customers Generates additional sales from the existing target market Might contribute to overexposure of the brand Helps position new products 20 When Apple introduced its popular iPod Nano model it dropped its Mini iPod at the same time The Mini was at the time the most popular mp3 player in the marketplace This is an example of Product maturity A brand ShakeOUt 555 m a CEO Steve Job39S large ego 5 39 fa Preemptive L cannibalization 21 A is when a parent brand is used on a new product targeting a new market segment within a category currently served by the parent Line extension Category extension Jointventure cobrand Same company cobrand 22 Painting and consulting are considered industrial goods because They facilitate developing and managing the nished product Most rms do not seek them directly They are specialty goods They are considered quotcomponent materialsquot 23 In 2003 Toyota introduced its Scion brand with the aim of bringing younger buyers into the quotfamilyquot This was a classic example of quot I i Line stretching Line padding Line featuring Line cannibalization 24 Marketers plan their market offerings at ve levels What is the correct order of the levels going from most fundamental to the level with the most bene ts 51515 PotentiaIaugmentedexpectedcorebasic Corebasicexpectedaugmented pate ntial Basicexpectedaugmentedcorepotentia ExpectedpotentiaIbasicaugmentedcore 25 Which of the following is the best example of pure service A car repair shop A lawn mowing service A weight loss clinic that provides the consumer with its own brand of food A movie theater 26 For 15 a day Chlena will go to your home and feed water and play with your pet while you are on vacation The service Chlena Hybdd Tangible good with accompanying service Pure service Major service with accompanying minor goods and services 27 Which of the following best describes the category in which the offering39s service mix is distinguished quotPeople patronize restaurants for both food and servicequot quotI Tangible good with accompanying services Pure tangible good Hybfd Pure service 28 When customers buy on the basis of a reference price or because the price conveys a particular quality image to them they are being in uenced by q The psychology of pricing Va u e p ri c i n g is The going rates of competitors Value augmented by perception 29 The introduction of a new product to the market using market penetration pricing is most likely to be successful when quotIa There must be no existing demand for the product The unit costs of producing a small volume of the product are high The market is highly price sensitive The high price communicates nothing to potential buyers quotI Considering price and price competition as a key problem in L marketing Revising prices too often lgnoring costs when setting prices Setting prices independently of the rest of the market mix 31 When Cyler goes to do his grocery shopping for the week he also likes to drop off his nished rolls of lm and visit the bank at the same time He would also like the idea of having a package mailing service to use while he is shopping Cyler would enjoy doing his grocery shopping at a quot I Category killer Combination store Superstore Hypermarket 32 Best Buy stores carry a deep assortment of the latest electronics gadgets They offer buyers a great deal of assistance and advice in Factory outlet Specialty store Department store Superstore Limited service Selfselection Fullservice Selfservice 34 McDonald39s franchisees get a small discount when they pay their bills for supplies within the rst seven days when the due date is 30 days after delivery This is an example of within channel relations 39 33 Conditions of sale Price policies Sharing the risks lit Territorial rights 35 Because of CocaCola39s size and power in the marketplace they tend to dominate some members in the channel This allows them to require strong cooperation from resellers who carry Coke products Horizontal marketing SyStem Administered vertical marketing system Corporate vertical marketing system Contractual vertical marketing system Deciding on the marketing organization Deciding how to enter the market Deciding on the marketing program Deciding which markets to enter 37 Zhao is advertising her importexport business and wants to nd the most costeffective way of delivering the desired number and types of message exposures to her target audience Zhao is considering her iquot u a Media selection Creative development and execqun Plan of attack Marketing plan 38 Advertising for Advil pain reliever shows Advil is superior to This is an example of advertising Informative Persuasiv e Reminder Descriptive 39 Assume you are advertising very expensive authentic Turkish carpets to upscale investors in Germany Credibility and prestige are important The best medium for your advertising message is Direct mail Newspaper 5 Magazine Television Personal selling A sales promotion F An event sponsorship I mg I I a I39 I D 1 Brand contact 41 This is the use of mail telephone fax email or the Internet to communicate directly with or solicit a response or dialogue from speci c customers or prospects j Direct marketing Viral marketing Brand building Personal selling 42 Bradford Soap the second largest soap maker in the world occasionally arranges tours of their plant in Warwick Rhode Island This is part of what kind of communications platform Sales promotion Expe ences Personal selling Events 43 The rst computers originated for home use were only sold in kit form to technical enthusiasts who did their own assembly Demand was high and so were prices At the time the rm offering these kits would likely have been using the concept Production Market Technological Product 44 The computer consists of the manufacturers of computer memory chips monitors keyboards coaxial cables modems software storage systems disks hard drives portable USB media and those who install repair and maintain systems and Ma rketspace M eta m a rke t Macromarket Marketplace A megamarket includes only suppliers A metamarket is a huge store A marketspace is a digital shopping quotareaquot A metamediary is a physical marketplace 46 Marketing is the art and science of choosing target markets and getting keeping and growing customers through creating delivering and communicating superior customer value 3939quotIj39 internally if integration I39l39 7 B 55555332quot 55597 39 C i5 39325252 E39 D 139 segmentation managemen I 47 Which of the following is most closely associated with a proactive marketing orientation quotI 39 It Involves delivering superior value The marketer focuses on the customers39 latent needs It represents the quotmake and sellquotphiosophy It is about understanding and meeting customers expressed needs 48 isare an organization functions and a set of processes for creating communicating and delivering value to customers and for managing customer relationships in ways that bene t the organization and its shareholders quot5I Mg Ethics Strategic planning Management f M ea 5 u re me nt 2 F M O n e y i M is s i o n 50 Advertising for Advil pain reliever shows how Advil is superior to Tylenol This is an example of advertising 5553555 Persuasiv Instructive Informative Reminder 51 Hospitals are engaged in intense competition to ll maternity beds What type of advertising would hospitals most likely use to advertise their new amenities like Jacuzzis in every room let mignon or lobster on the menu and afternoon teas for the new F Re m i n d e r F Persuasive
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