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MKT 421 FINAL EXAM - LATEST 2014 1. A producer might use a "pulling policy" rather than a "pushing policy" if:  

• Intermediaries are reluctant to handle a new product.

• Its sales force has been very successful getting wholesalers and retailers to handle its product.

• It has a very limited promotion budget.

• It is offering a very "high-tech" product to a small product-market.

2. When new product ideas are chosen based on ratings and comments from

customers, this process is called ______. 

• Creative resourcing

• Idea engineering

• Reaction engineering

• Crowdsourcing

3. The primary purpose of branding is: 

• To prevent competitors from stealing product ideas.

• To boost customer satisfaction.

• To identify a product.

• To enhance package design.

4. The company tries to follow an organized new-product development

process—rather than using a faster and more spontaneous, "race-to-market"

approach.

• The managers worry too much about the competition.

• The product fails to offer the customer a unique benefit.

• The company delays putting the product on the market until it develops a complete marketing plan.

5. Genetech Corp. has invested heavily to develop a patented new product.

Genetech wants to achieve a rapid return on its investment. It probably

should set a ______________ pricing objective. 

• Status quo

• Target return

• Profit maximization

• Sales-oriented

6. In the American Marketing Association's Statement of Ethics, which ethical

value stresses a firm's attempts to balance the needs of its buyers with the

interests of sellers? 

• Responsibility

• Citizenship

• Fairness

• Honesty

7. David Oreck advertises Oreck vacuum cleaners via commercials that run on

national radio programs. He encourages consumers to "…try my 8-pound

Oreck vacuum for free for 30 days," and to return it if they aren't satisfied. He

then provides an easy-to-remember toll-free telephone number that

consumers can use to place orders. Regarding the AIDA model, the free-trial

period and availability of a toll-free number are devices used mainly to: 

• Get attention.

• Arouse desire.

• Obtain action.

• Hold interest.

8. Most firms in the business world set their prices using:

• Supply and demand analysis.

• Federal price guidelines.

• Cost-oriented price setting.

• Demand-oriented price setting.

9. Compared with other approaches to business, the marketing concept is

distinct in that it:

• Focuses on sales.

• Focuses on satisfying customers' needs.

• Produces new products and services

• Creates a broad assortment of products.

10. More than 600,000 loyal customers signed up in advance to purchase the

iPhone4 in an Apple store the first day it was available for sale in the U.S.

What type of response behavior were these Apple followers demonstrating? 

• Dissonance response

• Low-involvement buying

• Routinized response

• Limited problem solving

11. In which quadrant of the SWOT analysis tool does the following fit? A firm

is in a fast-growing industry. 

• Weaknesses

• Strengths

• Opportunities

• Threats

12. A useful tool for organizing the competitor analysis is:

• Rivals chart.

• The competitive summary.

• The oligopoly chart.

• A competitor matrix.

13. From the perspective of macro-marketing, e-commerce specialists CarFax

(which provides vehicle history reports) and Cars.com (a website offering auto

comparison shopping) have emerged within the auto industry because:

• The role of the automotive sales person is becoming obsolete.

• The market needs competitive rivals to auto dealerships.

• The information they provide makes the exchange process between producers and consumers

more efficient and effective.

• Auto manufacturers need to sell direct to consumers.

14. Which of the following is true of direct distribution? 

• Direct distribution always serves customer needs better and at a lower cost.

• It requires a significant investment in facilities.

• Most firms selling consumer products rely on direct distribution.

• It reduces a producer's need for working capital.

15. Behavioral targeting: 

• Tries to reach target customers who are actually interested in what the firm has to communicate.

• Allows advertisers to pay only when a customer clicks on the ad and links to the advertiser's

website.

• Tries to place ads on websites that are designed to appeal to the firm's target market.

• Delivers ads to consumers based on previous websites the customer has visited.

16. The main difference between a "marketing strategy" and a "marketing

plan" is that: 

• A marketing strategy omits pricing plans.

• A marketing strategy provides more detail.

• A marketing plan includes several marketing strategies.

• Time-related details are included in a marketing plan.

17. When a company provides its advertising agency with a statement about a

new product to use in designing an advertising campaign, and this statement

includes a description of the target market, the product type, the primary

benefits of using the product, and how this product is different from, and

better than, competitive products, what type of statement is this? 

• Determining

• Qualifying

• Clustering

• Positioning

18. Blending the firm's promotion efforts to convey a complete and consistent

message is the goal of:

• Sales management communications.

• Integrated marketing communications.

• Sales promotion communications.

• Integrated promotional marketing

19. In the 1990s, DVDs replaced audio cassettes and floppy disks as the

storage media of choice for music and computers. At which stage of the

product life cycle is the DVD today? 

• Market introduction

• Sales decline

• Market extinction

• Market immaturity

20. According to the concept of social responsibility, a firm has a duty to: 

• Place customer satisfaction above all other considerations.

• Place profit above all other considerations.

• Communicate regularly with the public.

• Conduct business in a way that is good for society as a whole, both now and for the future.

21. The advantages of working with an intermediary usually increase when

there is:

• A smaller number of competing products.

• Little distance between customers.

• Excellent communication with customers.

• A greater number of customers.

22. Clearwater Office Supply sells frequently purchased office supplies to

businesses in a metropolitan area. It is a well-established company with a

large share of the market. Its promotion should probably focus on: 

• Stimulating primary demand.

• Reminding.

• Innovators.

• Informing.

23. The phrase "big data" refers to: 

• the use of marketing research in big marketing decisions.

• the  massive  amount of data being collected and processed by today's organizations.

• the top five firms in the marketing research industry.

• marketing research data taken from Internet sources.

24. When an advertiser pays a fixed amount (e.g. 70 cents) each time a Web

surfer clicks on the advertiser's ad and links to the advertiser's website, this

process is called a(n): 

• pay-per-click.

• pay-per-view.

• pioneering ad.

• copy thrust.

25. The sales analysis of a product revealed that profits were highest when it

was initially introduced into the market with a high selling price. However,

the price was gradually reduced as it started facing competition as

substitutes entered the market. This is an example of a(n) _____. 

• Penetration price policy

• Skimming price policy

• Introductory price dealing

• Temporary price cut policy

26. Tammi Soloft has itchy eyes and a stuffy nose, and suddenly becomes

aware of many TV ads for allergy products that she never noticed before. This

illustrates: 

• reinforced cognition.

• selective perception.

• selective retention.

• selective exposure.

27. The main difference between the "marketing department era" and the

"marketing company era" is: 

• More emphasis on selling and advertising in the marketing department era.

• More emphasis on short-run planning in the marketing company era.

• Whether the whole company is customer-oriented.

• Whether the president of the firm has a background in marketing.

28. The three basic sales tasks are:

• Order-taking, order-managing, and order-getting.

• Order-taking, supporting, and order-getting.

• Order-closing, order-opening, and sales-promoting.

• Order-taking, missionary selling, and order-getting.

29. Marketers cannot assume that a product that meets consumer needs in

one country will do so in another. This is because: 

• The purchase situations may be different.

• Economic wants do not influence purchases in many regions of the world.

• Family life cycles may be different.

• Many wants are culturally learned.

30. Because she frequently buys books at Amazon.com, Sophie Soleil set up

an account and password at the website. Now, when she logs on and searches

for a specific book, a note pops up at the center of her laptop screen saying:

"Hello, Sophie, we have recommendations for you," and proceeds to list other

titles that Sophie might enjoy based on her previous purchases. Amazon can

remember Sophie (and her previous purchases) because the online retailer

uses:

• Encoding.

• Banners.

• Cookies.

• Decoding.