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MKT 421 Final Exam Guide
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MKT 421 Final Exam Guide

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1. Blending the firm's promotion efforts to convey a complete and consistent message is the goal of: Sales management communications. Integrated promotional marketing. Sales promotion communications. Integrated marketing communications. 2 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): pioneering ad. pay-per-view. pay-per-click. copy thrust. 3 Marketers cannot assume that a product that meets consumer needs in one country will do so in another. This is because: Many wants are culturally learned. Family life cycles may be different. Economic wants do not influence purchases in many regions of the world. The purchase situations may be different. 4 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: Decoding. Encoding. Banners. Cookies. 3 Marketers cannot assume that a product that meets consumer needs in one country will do so in another. This is because: Many wants are culturally learned. Family life cycles may be different. Economic wants do not influence purchases in many regions of the world. The purchase situations may be different. 4 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: Decoding. Encoding. Banners. Cookies. 5 In which quadrant of the SWOT analysis tool does the following fit? A firm is in a fast-growing industry. Opportunities Strengths Threats Weaknesses 6 The phrase "big data" refers to: the top five firms in the marketing research industry. the massive amount of data being collected and processed by today's organizations. marketing research data taken from Internet sources. the use of marketing research in big marketing decisions. 7 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 8 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. Auto manufacturers need to sell direct to consumers. The information they provide makes the exchange process between producers and consumers more efficient and effective. 9 According to the concept of social responsibility, a firm has a duty to: Conduct business in a way that is good for society as a whole, both now and for the future. Communicate regularly with the public. Place customer satisfaction above all other considerations. Place profit above all other considerations. 10 The main difference between the "marketing department era" and the "marketing company era" is: Whether the whole company is customer-oriented. More emphasis on selling and advertising in the marketing department era. Whether the president of the firm has a background in marketing. More emphasis on short-run planning in the marketing company era. 11 In the 1990s, DVDs replaced audiocassettes 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? Sales decline Market extinction Market immaturity Market introduction 12 The three basic sales tasks are: Order-taking, missionary selling, and order-getting. Order-taking, order-managing, and order-getting. Order-closing, order-opening, and sales-promoting. Order-taking, supporting, and order-getting. 13 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: Informing. Innovators. Reminding. Stimulating primary demand. 14 A producer might use a "pulling policy" rather than a "pushing policy" if: It is offering a very "high-tech" product to a small product-market. It has a very limited promotion budget. Its sales force has been very successful getting wholesalers and retailers to handle its product. Intermediaries are reluctant to handle a new product. 15 The main difference between a "marketing strategy" and a "marketing plan" is that: A marketing plan includes several marketing strategies. A marketing strategy omits pricing plans. A marketing strategy provides more detail. Time-related details are included in a marketing plan. 16 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? Honesty Fairness Responsibility Citizenship 17 A useful tool for organizing the competitor analysis is: The competitive summary. A competitor matrix. Rivals chart. The oligopoly chart. 18 Which of the following is true of direct distribution? It reduces a producer's need for working capital. 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. 19 Compared with other approaches to business, the marketing concept is distinct in that it: Creates a broad assortment of products. Focuses on satisfying customers' needs. Focuses on sales. Produces new products and services. 20 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: Hold interest. Arouse desire. Obtain action. Get attention. 21 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) _____. Introductory price dealing Penetration price policy Temporary price cut policy Skimming price policy 22 Which of the following is a common cause of new product failures? 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. The company tries to follow an organized new-product development process—rather than using a faster and more spontaneous, "race-to-market" approach. 23 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. Delivers ads to consumers based on previous websites the customer has visited. Tries to place ads on websites that are designed to appeal to the firm's target market. 24 TammiSoloft 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: selective exposure. reinforced cognition. selective retention. selective perception. 25 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? Qualifying Positioning Determining Clustering 26 The primary purpose of branding is: To enhance package design. To identify a product. To boost customer satisfaction. To prevent competitors from stealing product ideas. 27 When new product ideas are chosen based on ratings and comments from customers, this process is called ______. Reaction engineering Idea engineering Crowdsourcing Creative resourcing 28 Most firms in the business world set their prices using: Demand-oriented price setting. Federal price guidelines. Cost-oriented price setting. Supply and demand analysis. 29 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? Routinized response Dissonance response Limited problem solving Low-involvement buying 30 The advantages of working with an intermediary usually increase when there is: Excellent communication with customers. A greater number of customers. Little distance between customers. A smaller number of competing products.

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