Mkt 421 Final Exam

1) According to the text, merchandise means A. Selling. B. more more than selling and ad. C. Producing and selling. D. advertising. 2) For Tesla, a advanced hard t chapeau makes an electric sports railway car, estimating how m any(prenominal) competitors leave make electric vehicles and what kinds they forget make, is A. A crosswayion activity. B. One of the universal functions of innovation. C. An fount of the micro-macro dilemma. D. A recess of merchandising. 3) Which of the avocation avouchments exceed describes the modern view of merchandise? A. selling should take over outpution, accounting, and financial run within a firm.B. The job of trade is to get rid of whatever the keep bon ton is producing. C. tradeing is concerned with generating a champion exchange between a firm and a client. D. merchandiseing begins with anticipating potential customer needinesss. 4) Professional alveolar Supply has been success risey selling dental instruments to dentis ts for the past 20 years, and has ex rangeed strong customer relations. When t star for late foodstuff opportunities, Professional Dental Supply will most promising look first at A. mart setment. B. diversification. C. mathematical crosswayion organic evolution. D. commercialize penetration. ) To compete more successfully with its many competitors attainering incase cookies, Famous Amos added its admit line of exceptional chunky premium cookies. This seems to be an perspiration at A. Market breeding. B. Market penetration. C. yield development. D. Combination. 6) Which of the follo captivateg statements regarding merchandiseing strategies is FALSE? A. development successful selling strategies does non need to be a hit-or-miss proposition. B. These strategies must meet the inevitably of guide customers, and a firm is likely to get a competitive advantage if it just meets necessarily in the same way as rough former(a) firm. C.These strategies require decis ions well-nigh the specific customers the firm will sign and the trade amalgamate the firm will develop to appeal to that goat food grocery store. D. It is efficacious to think of the merchandise scheme formulation turn as a narrowing-down process. 7) A firms securities industry mix decision beas would non include A. Price B. People C. intersection D. Promotion 8) Which of the pastime is true? A. The product P in the selling mix stands for nevertheless tangible merchandise. B. The product P in the merchandising mix stands for both forcible goods and services. C. The product P in the marketing mix stands for both visible goods and tangible D.The product P in the marketing mix stands for only physical goods. 9) Product is NOT concerned with A. sell scathe. B. Branding. C. Packaging. D. Quality level. 10) Dell, Inc. wants to offer customers televisions in supplement to computers. This is a change in their _____________________ A. personnel. B. progressional. C. product. D. pricing. 11) Hewlett-Packard sells in the flesh(predicate) computers through and through specialty computer stores, electronics superstores, and its own Internet site. The marketing mix covariant that is being considered here is A. Product. B. Placement. C. Promotional. D. Pricing. 2) The ______ ara of the marketing mix is concerned with decisions slightly acquiring the right product to the tail market when and where it is wanted. A. Promotion B. Place C. People D. Product 13) The main difference between a marketing system and a marketing syllabus is that A. A marketing system provides more detail. B. A marketing strategy omits pricing widecasts. C. A marketing formulate includes several marketing strategies. D. Time-related details argon 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 the following is bulge out of a complete marketing plan? A. Competitors marketing strategies. B. What company resources ( personifys) argon requisite and at what rate. C. How divers(prenominal) marketing mixes (for different target markets) relate to each other. D. each(prenominal) of these. 16) market strategy planners should recognize that A. tremendous firms like General Electric, post, and Procter & Gamble atomic number 18 too spacious to aim at clearly defined markets. B. sucker marketing is not check to small market segments. C. fold marketing is often rattling effective and desir fit. D.Target markets should not be large and strewing out. 17) Target marketing, in product line to plurality marketing, A. Ignores markets that argon large and spread out. B. Focexercisings on fairly homogeneous market segments. C. Assumes that all customers are basi skirty the same. D. Is limited to small market segments. 18) Good marketing strategy planners know that A. Mass marketing is often very desirable and effective. B. The impairment mass marketing and mass marketer mean basically the same thing. C. Target marketing does not limit 1 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 denomination broad product-markets and then(prenominal) segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes. A. Mass marketing B. Market spot C. Diversification D. Market segmentation 20) Clustering techniques utilize to segmenting markets A. Usually require computers to assemblage tidy sum based on data from market query. B. Remove the need for managerial judgment. C. decease the need for marketing managers to specify in advance what dimensions might be pertinent for separateing consumers. D. All of the above 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. Market penetration. C. Market research. D. Market segmentation. 22) Procedures that develop and analyze modern selective entropy to military service marketing managers make decisions are called A. uninflected research. B. Strategy planning. C. merchandise research. D. Operational planning. 23) ________________ ________________ utilizes qualitative and quantitative outline procedures to do 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 meeting site and analyzing data to get information to help marketing managers make ongoing decisions. A. Marketing research project B. Marketing information system C. Marketing research section D. Marketing model 25) Marketing research which seeks structured responses that fanny be summarized is called A. soft research. B. Focus group research. C. Situation analysis research. D. Quantitative research. 26) One of the major disadvantages of the concentre group interview approach is hat A. It is difficult to get in-depth information or so the research topic. B. It is difficult to measure the results objectively. C. on that point 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. retort results that are largely dependent on the viewpoint of the researcher. C. Are valuable compared to other marketing research methods. D. Are normally composed of 10 to 15 throng as compositionicipants. 28) The observing method in marketing researchA. Is employ to forgather data without consumers being influenced by the process. B. may require customers to change their normal shop behavior. C. Is not suitable for obtaining primary data. D. Uses singleised interviews. 29) The attitudes and behavior patterns of people are part of the A. Competitive environment. B. Social and cultural environment. C. Firms resources and objectives. D. semipolitical environment. 30) Which of the following statements around consumer products is true? A. curio products are those that customers commonly are least(prenominal) willing to search for. B.Shopping products are those products for which customers normally want to give 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 positioning D. Market segmentation 32) Which is the first standar d in market segmentation? A. label a broad product-market of interest to the firm.B. Evaluating market segments to determine if they are large enough. C. decision one or cardinal demographic characteristics to divide up the whole mass market. D. Clustering people with connatural needs into a market segment. 33) The first dance step in market segmentation should be A. Finding a demographic group likely to function your products. B. Defining some broad product-markets where you may be able to operate netably. 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 life rung stages?A. Market introduction B. Market exploitation C. Market maturity D. Market penetration 35) The product life cycle A. Applies more to individual brands than to categories or types of products. B. Shows that sales and gelt tend to move together over time. C. Describes the stages a new product idea goes through from beginning to end. D. Has five major stages. 36) gobbler and Sally Jones are preparing to buy a new car. He currently has a Toyota Camry and she has a Honda Accord. They now adopt two children under age 5, so they plan to trade in Sallys 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 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 normally expensive for a new firm to arrive in the market maturity stage. B.Industry profits are likely to level off or decline before sales level off. C. The level of promotion ordinarily decreases in market ma turity because on that point is less revenue to cover the cost. D. numerous snug substitutes are usually competing in the market maturity stage. 38) An industrys sales agree leveled off and profits are declining in oligopolistic disputation. Consumers see competing products as homogeneous. Several firms turn out dropped out of the industry, but a new one entered recently. Firms in the industry are trying to avoid price-cutting by disbursement 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 mentality of next profits. B. Considerable money is dog-tired on promotion while place development is left until later stages. C. Products usually show large profits if marketers shit successfully carved out new markets. D. Most potential customer s are rather anxious to try out the new-product concept. 40) Advertising allowances A.Set the allowance amount as a percent of the retailers actual purchases. B. Are price reductions to firms further along in the crinkle to encourage them to advertise or otherwise promote the firms products locally. C. Involve intermediaries and producers sharing in the cost of ads. D. Allow for coordination and integration of ad messages in the enthral. 41) SGCA is having a sales rival to encourage retailers to quickly reduce the blood line of SuperGamer computers. Retailers with the highest sales during the next month win an expense paid trip to a special dealer meeting at a resort in Hawaii. This is A.An practice of a producer using sales promotion in the channel. B. Probably unratified because it might encourage price competition among retailers. C. An example of cooperative advertising. D. The type of promotion that continues to impact sales even afterwards the promotion is over. 42) W hile watching a television program, Liza gets a call back call just as a commercial is starting. She presses the mute button on the televisions remote control and takes the call, so she pays no attention to the commercial. In terms of the converse process, the telephone call is an example of A. Feedback. B. Noise. C. Encoding.D. Decoding. 43) A producer using very pugnacious promotion to get final consumers to contract intermediaries for a new product has A. A pushing policy. B. A target marketing policy. C. A displace policy D. A selective distribution policy. 44) American Tourister, Inc. a producer of luggageis planning to pose 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(p) promote it, and what sales volume and profit margins they can reasonably expect.This is an example of A. A pushing policy. B. Intensiv e distribution. C. A pulling policy. D. Selective 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 pushing effort rather 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 well-nigh 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. Positioning issues are specially important when competitors in a market are very dissimilar. 47) When segmenting broad product-markets, cost considerations tend A. To bakshis to a large number of small, but very homogeneous, product-market segments. B. To lead to more aggregating. C. To encourage managers to dis regard the monetary standard 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 usually view present brands similarly. B. Is not a product-oriented approach. C. Helps managers understand 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 various close substitute ways of satisfying those needs. A. Product-market B. Target market C. Generic market D. metre market 50) Which of the following is NOT a trend change marketing strategy planning in the area of internationalist marketing? A. Decreasing role of airfreight. B. international communication over the Internet.C. Tensions between adjudge and have-not cultures. D. More attention to export 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 availableness of more ad agencies and specialists has spurred growth in sales promotions. B. Changes in technology have make sales promotions more efficient. C. Sales promotions have increased because of competition in emerge 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. process of marketing information systems. B. Less use of technology in personal selling. C. ranking(prenominal) and ethnic submarkets are getting smaller. D. unhurried new-product development. 54) 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. purchasing managers B. Marketing executives C. Sales managers D. Procurement ma nagers 55) The future poses many challenges for marketing managers because A.Social responsibility applies only to firmsnot to consumers. B. New technologies are reservation it easier to abuse consumers rights to privacy. C. It is marketing managers who have full responsibility to preserve our macro-marketing system. D. The marketing concept has become 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 curse any information they receive from any source except the government.B. Consumers should not use it because it gives them an unfair 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 fol lowing statements about estimable behavior in transmission line is true? A. The legal environment sets the prescriptive standards of ethical behavior. B. The legal environment sets the highest standards of ethical behavior. C. The legal environment sets the minimum standards of ethical behavior D. The legal environment sets the supreme standards of ethical behavior.