Mkt 421 Final Exam

1) According to the text, merchandising means A. Selling. B. Much much than selling and advertising. C. Producing and selling. D. Advertising. 2) For Tesla, a modernfound firm that makes an electric sports car, estimating how many competitors forget make electric vehicles and what kinds they provide make, is A. A proceedsion activity. B. One of the habitual functions of innovation. C. An recitation of the micro-macro dilemma. D. A part of merchandise. 3) Which of the avocation statements best describes the modern locating of commercialise? A. commercializeing should take over harvest-homeion, accounting, and financial services inwardly a firm.B. The job of merchandiseing is to get rid of whatever the ships keep company is producing. C. merchandise is concerned with generating a single exchange surrounded by a firm and a customer. D. securities industrying begins with anticipating potential customer necessarily. 4) Professional dental Supply has been successfu lly selling dental instruments to dentists for the past 20 years, and has unquestioncapable strong customer relations. When looking for new marketplaceing opportunities, Professional dental consonant Supply will most liable(predicate) look first at A. grocery climbment. B. Diversification. C. increase development. D. merchandise penetration. ) To compete to a greater extent successfully with its many competitors draw egressing packaged cookies, Famous Amos added its own line of extra lumpy premium cookies. This count onms to be an effort at A. Market development. B. Market penetration. C. output development. D. Combination. 6) Which of the side by side(p) statements regarding selling strategies is FALSE? A. Developing successful merchandising strategies does non need to be a hit-or-miss proposition. B. These strategies must meet the needs of chump customers, and a firm is likely to get a militant advantage if it just meets needs in the same way as some other firm. C.T hese strategies crave decisions s straighten outly the specific customers the firm will laughingstock and the marketing mix the firm will develop to greet to that butt end market. D. It is useful to think of the marketing schema picturening serve up as a narrowing-down process. 7) A firms marketing mix decision atomic number 18as would not include A. Price B. People C. Product D. Promotion 8) Which of the following is honest? A. The product P in the marketing mix stands for scarcely obvious merchandise. B. The product P in the marketing mix stands for both forcible goods and services. C. The product P in the marketing mix stands for both somatogenic goods and tangible D.The product P in the marketing mix stands for only physical goods. 9) Product is non concerned with A. Wholesale price. B. Branding. C. Packaging. D. Quality level. 10) Dell, Inc. regards to offer customers televisions in addition to computers. This is a change in their _____________________ A. perso nnel. B. forwardingal. C. product. D. pricing. 11) Hewlett-Packard sells personal computers by fussyty computer stores, electronics superstores, and its own Internet site. The marketing mix changeable that is being considered here is A. Product. B. break throughment. C. Promotional. D. Pricing. 2) The ______ area of the marketing mix is concerned with decisions close to getting the right product to the target market when and where it is wanted. A. Promotion B. Place C. People D. Product 13) The main difference between a marketing strategy and a marketing plan is that A. A marketing strategy provides much detail. B. A marketing strategy omits pricing plans. C. A marketing plan includes several marketing strategies. D. Time-related details are included in a marketing plan. 14) A marketing plan is A. A marketing strategyplus the time-related details for carrying it out. B. A target market and a related marketing mix.C. A marketing strategy. D. A marketing program. 15) Which of t he following is part of a complete marketing plan? A. Competitors marketing strategies. B. What company resources (costs) are required and at what rate. C. How different marketing mixes (for different target markets) relate to each other. D. All of these. 16) Marketing strategy planners should recognize that A. largish firms like General Electric, Target, and Procter & Gamble are too orotund to gallery at clearly defined markets. B. Target marketing is not expressage to elflike market segments. C. Mass marketing is frequently very stiff and desirable. D.Target markets should not be large and spread out. 17) Target marketing, in air to mass marketing, A. Ignores markets that are large and spread out. B. focalizees on fairly unvarying market segments. C. Assumes that all customers are basi telephoney the same. D. Is riged to small market segments. 18) Good marketing strategy planners know that A. Mass marketing is often very desirable and effective. B. The terms mass marketi ng and mass vender mean basically the same thing. C. Target marketing does not limit one to small market segments. D. Firms like Nabisco and WalMart are too large to aim at clearly defined target markets. 9) ______________ is the process of fitting ample product-markets and then segmenting these broad product-markets in site to select target markets and develop suitable marketing mixes. A. Mass marketing B. Market posture C. Diversification D. Market class 20) Clustering techniques applied to segmenting markets A. Usually require computers to group bulk based on data from market look. B. discharge the need for managerial judgment. C. Eliminate the need for marketing managers to specify in advance what dimensions might be relevant for grouping consumers. D. All of the to a higher place are true. 1) The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable marketing mixes is called A. Market development. B. Ma rket penetration. C. Market research. D. Market segmentation. 22) Procedures that develop and analyze new education to friend marketing managers make decisions are called A. Analytical research. B. Strategy planning. C. Marketing research. D. working(a) planning. 23) ________________ ________________ utilizes qualitative and quantitative analysis procedures to dish up marketing managers make more informed decisions. A. Marketing structure.B. Marketing planning. C. Marketing research. D. Marketing processing. 24) A ______________ is an organized way of continually gatheringing and analyzing data to get education to help marketing managers make ongoing decisions. A. Marketing research project B. Marketing info system C. Marketing research department D. Marketing beat 25) Marketing research which seeks structured results that tolerate be summarized is called A. Qualitative research. B. Focus group research. C. Situation analysis research. D. Quantitative research. 26) One of the major disadvantages of the focusing group interview approach is hat A. It is difficult to get in-depth information about the research topic. B. It is difficult to measure the results objectively. C. There is no interviewer, so the research questions may not be answered. D. Ideas generated by the group cannot be tested later with other research. 27) Focus groups A. Always do a good job of representing the broader target market. B. Yield results that are largely strung-out on the viewpoint of the researcher. C. Are expensive compared to other marketing research methods. D. Are commonly composed of 10 to 15 people as participants. 28) The observing method in marketing researchA. Is used to gather data without consumers being influenced by the process. B. May require customers to change their universal shopping doings. C. Is not suitable for obtaining primary data. D. Uses personal interviews. 29) The attitudes and behavior patterns of people are part of the A. Competitive env ironment. B. Social and cultural environment. C. Firms resources and objectives. D. Political environment. 30) Which of the following statements about consumer products is true? A. Specialty products are those that customers usually are least(prenominal) willing to search for. B.Shopping products are those products for which customers usually want to use routinized buying behavior. C. Unsought products are not shopped for at all. D. Convenience products are those that customers want to buy at the lowest possible price. 31) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes. A. Mass marketing B. Strategic planning C. Market stead D. Market segmentation 32) Which is the first step in market segmentation? A. Naming a broad product-market of interest to the firm.B. Evaluating market segments to memorize if they are large enough. C. Finding one or two demo graphic characteristics to divide up the whole mass market. D. Clustering people with confusable needs into a market segment. 33) The first step in market segmentation should be A. Finding a demographic group likely to use your products. B. Defining some broad product-markets where you may be able to operate profitably. C. Deciding what new product you could develop. D. Evaluating what segment(s) you currently serve. 34) Which of the following is NOT one of the texts product feel cycle stages?A. Market introduction B. Market growth C. Market maturity date D. Market penetration 35) The product life cycle A. Applies more to individual brands than to categories or types of products. B. Shows that gross revenue and profits work to move together over time. C. Describes the stages a new product composition goes through from beginning to end. D. Has five major stages. 36) Tom and Sally Jones are preparing to purchase a new car. He currently has a Toyota Camry and she has a Honda Accor d. They now swallow two children under age 5, so they plan to trade in Sallys car to purchase a minivan.Sally and Tom mulish on a Honda Odyssey because Sally is familiar with Hondas and thinks they are very reliable. In this purchase situation, Tom and Sallys family life cycle stage is a _____________ segmentation dimension, and the benefit Sally seeks (reliability) is a _____________ segmentation dimension. A. geographical behavioral. B. Demographic geographic. C. Geographic demographic. D. Demographic behavioral. 37) Regarding product life cycles, which of the following is NOT true? A. It is usually expensive for a new firm to enter in the market maturity stage. B.Industry profits are likely to level off or decline before sales level off. C. The level of promotion usually decreases in market maturity because there is less revenue to spoil the cost. D. Many close substitutes are usually competing in the market maturity stage. 38) An industrys sales have leveled off and profits are declining in oligopolistic contender. 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 price-cutting by spending on persuasive advertising.These firms are competing in which stage of the product life cycle? A. Market introduction B. Market growth C. Market maturity D. Market development 39) During the market introduction stage of the product life cycle A. Funds are being invested in marketing with the expectation of future profits. B. Considerable money is spent on promotion while place development is left until later stages. C. Products usually interpret large profits if marketers have successfully carved out new markets. D. Most potential customers are quite anxious to try out the new-product concept. 40) Advertising allowances A.Set the allowance amount as a percent of the retailers echt purchases. B. Are price reductions to firms further along in the carry on to embolden them to advertise or otherwise promote the firms products locally. C. Involve intermediaries and makers sharing in the cost of ads. D. Allow for coordination and integration of ad messages in the channel. 41) SGCA is having a sales contest to encourage retailers to quickly reduce the inventory of SuperGamer computers. Retailers with the highest sales during the beside month win an expense paid trip to a special dealer meeting at a resort in Hawaii. This is A.An example of a producer using sales promotion in the channel. B. in all likelihood illegal because it might encourage price competition among retailers. C. An example of accommodating advertising. D. The type of promotion that continues to impact sales even after the promotion is over. 42) While watching a television program, Liza gets a address call just as a commercial is starting. She presses the mute loss on the televisions remote control and takes the call, so she pays no attention to the comme rcial. In terms of the communication process, the telephone call is an example of A. Feedback. B. Noise. C. Encoding.D. Decoding. 43) A producer using very aggressive promotion to get final consumers to direct intermediaries for a new product has A. A pushing policy. B. A target marketing policy. C. A pulling policy D. A selective scattering policy. 44) American Tourister, Inc. a producer of luggageis planning to introduce a new product line. The marketing manager is having her sales force call on retailers to explain American Touristers 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 jolly expect.This is an example of A. A pushing policy. B. Intensive distribution. C. A pulling policy. D. discriminating distribution. 45) Integrated direct-response promotion A. Is not necessary or useful when the channel of distribution involves intermediaries. B. Is usually part of a p ushing effort alternatively than part of a pulling approach. C. Focuses on achieving a measurable, direct response from specific target customers. D. None of these are true. 46) Which of the following statements about positioning is NOT TRUE? A. It helps marketing managers know how customers view the firms offering. B.It refers to how customers think about proposed or present brands in a market. C. It often makes use of techniques such as perceptual mapping. D. attitude issues are especially important when competitors in a market are very dissimilar. 47) When segmenting broad product-markets, cost considerations feed A. To give way to a large number of small, but very homogeneous, product-market segments. B. To lead to more aggregating. C. To encourage managers to disregard the criterion that a product-market segment should be substantial. D. To be unimportant as long as the segmenting dimensions are operational. 48) Positioning analysis A.Shows that managers and customers usua lly view present brands similarly. B. Is not a product-oriented approach. C. Helps managers get a line the actual characteristics of their products. D. Is a visual aid to understanding a product-market. 49) A _____ is a market with very similar needs and sellers offering mixed close substitute ways of satisfying those needs. A. Product-market B. Target market C. generic wine market D. Standard market 50) Which of the following is NOT a way poignant marketing strategy planning in the area of foreign marketing? A. Decreasing role of airfreight. B. Global communication over the Internet.C. Tensions between have and have-not cultures. D. More attention to exporting by small companies. 51) When a company grows globally, this is an example of A. Market penetration. B. Diversification. C. Market development D. Product development. 52) Identify the incorrect statement about sales promotions. A. The availability of more ad agencies and specialists has spurred growth in sales promotions. B. Changes in technology have made sales promotions more efficient. C. Sales promotions have increased because of competition in emerging markets. D. Sales promotions can be used as tools to overcome consumer price resistance. 3) Which of the following is a key trend affecting marketing strategy planning? A. Growth of marketing information systems. B. less(prenominal) use of technology in personal selling. C. Senior and ethnic submarkets are getting smaller. D. Slower new-product development. 54) It is usually the _________ job, perhaps with help from specialists in technology, to adjudicate what types of sales technology tools are needed and how they will be used. A. get managers B. Marketing executives C. Sales managers D. Procurement managers 55) The future poses many challenges for marketing managers because A.Social tariff applies only to firmsnot to consumers. B. New technologies are making it easier to abuse consumers rights to privacy. C. It is marketing managers who hav e full certificate of indebtedness to preserve our macro-marketing system. D. The marketing concept has find obsolete. 56) Many Internet sites, such as Autobytel. com and Edmunds. com, 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? A. Consumers should not trust any information they receive from any source except the government.B. Consumers should not use it because it gives them an below the belt advantage over car dealers. C. Consumers can use it, but should not feel a responsibility to do so. D. Consumers have a responsibility to use the information and be smarter customers. 57) Which of the following statements about honest behavior in business is true? A. The legal environment sets the normative standards of respectable behavior. B. The legal environment sets the highest standards of ethical behavior. C. The legal environme nt sets the minimum standards of ethical behavior D. The legal environment sets the maximum standards of ethical behavior.