busn319 week 8 final exam latest 2017

Week 8 final exam

(TCO 4) Which of the following are measures used by marketing executives? (Points : 5)

Market share

Cost per lead

Retention rate

Cost per click

All of the above

Question 2. 2. (TCO 1) Marketing plans must enable results to be compared with planned targets, which allows _____, the flexibility to update original plans. (Points : 5)

replanning

contingency planning

downsizing

dynamic planning

proactive change

Question 3. 3. (TCO 3) Which marketing strategy focuses on a single market segment but adds additional product lines? (Points : 5)

Full coverage

Market specialization

Product specialization

Selective specialization

Market-product concentration

Question 4. 4. (TCO 1) Based on relative competitive scope (broad target to narrow target) and source of competitive advantage (lower cost to differentiation), Porter's four generic business strategies are differentiation, cost focus, differentiation focus, and (Points : 5)

exclusivity.

electronic-focus.

quality focus.

cost leadership.

service leadership.

Question 5. 5. (TCO 1) Step 2 in the planning phase of the strategic marketing process is (Points : 5)

the situation analysis.

the market-product focus and goal setting.

the marketing program.

implementation.

obtaining resources.

Question 6. 6. (TCO 1) In the 1980s, poor quality and Japanese imports drove the Harley-Davidson motorcycle company to the brink of bankruptcy. The company's share of the U.S. super-heavy-weight market motorcycles with engine capacity of 850 cubic centimeters or more collapsed from more than 40% in the mid-1970s to 23% in 1983. However, by 1989, Harley-Davidson controlled some 65% of the U.S. market, and both in the United States and overseas markets, the company won't be able to meet demand for years. From a marketing perspective, what was most likely the first step in Harley-Davidson's resurgence? (Points : 5)

Development of a new mission statement and subsequent marketing strategy

Repositioning its product in the minds of motorcycle buyers

Performing a SWOT analysis

Seeking new markets for motorcycles both in the United States and in foreign markets

Improving the quality of its product and communicating this to motorcycle buyers

Question 7. 7. (TCO 3) All of the following steps are part of the planning process used to develop an organization's advertising program, except (Points : 5)

identify the target audience.

specify the advertising objectives.

write the advertising copy.

calculate the marketing ROI.

schedule the advertising program.

Question 8. 8. (TCO 2) The proper blend of elements in the promotional mix depends on the type of product. The three specific characteristics to be considered are complexity, risk, and _____. (Points : 5)

ancillary services

size

durability

accessibility

acceptability

Question 9. 9. (TCO 4) Reminding buyers of the product’s existence is the promotional objective during which stage of the product life cycle? (Points : 5)

Introduction

Growth

Maturity

Decline

All of the above

Question 10. 10. (TCO 2) The _____ can be used to inform prospective buyers about the benefits of the product. (Points : 5)

SWOT analysis

maturity stage

marketing matrix

promotional mix

target audience

Question 11. 11. (TCO 7) Which of the following statements about the terms used for marketing intermediaries is true? (Points : 5)

The most precise terms used to describe marketing intermediaries are dealer and distributor.

A retailer sells to consumers.

An agent has no legal authority to act on behalf of a manufacturer.

A wholesaler is an intermediary who sells to consumers.

Broker is a synonym for a dealer.

Question 12. 12. (TCO 7) Which of the following statements about the legal and regulatory aspect of pricing is true? (Points : 5)

The Robinson-Patman Act deals with predatory pricing.

The Consumer Goods Pricing Act is the only federal legislation that deals directly with pricing issues.

The Sherman Act deals only with vertical price fixing.

The Federal Trade Commission Act deals with predatory pricing, deceptive pricing, and geographical pricing issues.

The Consumer Goods Pricing Act and the Robinson-Patman Act deal with price discrimination.

Question 13. 13. (TCO 2) _____ involve(s) specifying the role of price in an organization’s marketing and strategic plans. (Points : 5)

A business mission

Pricing constraints

Pricing objectives

A pricing plan

The list or quoted price

Question 14. 14. (TCO 3) The ratio of perceived benefits to _____ is called value. (Points : 5)

price

prestige value

value-added pricing

value analysis

perceived costs

Question 15. 15. (TCO 6) Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is called (Points : 5)

consumer differentiation.

psychographics.

market segmentation.

market delineation.

aggregation marketing.

Question 16. 16. (TCO 5) Which of the following statements about environmental scanning is true? (Points : 5)

Environmental scanning changes the marketing environment.

Environmental scanning identifies and interprets potential trends.

Environmental scanning is an annual event.

Environmental scanning focuses primarily on geographical factors.

All of the above

Question 17. 17. (TCO 1) At the strategic business unit level, the marketing department provides leadership activities in (Points : 5)

talent management.

fiscal restraint.

looking outward, keeping the organization focused on creating value both for it and for customers.

creating the corporate culture.

sustaining the means-end chain.

Question 18. 18. (TCO 1) Which of the following statements about relationship marketing is most true? (Points : 5)

Relationship marketing has a short-term focus on increasing profits.

Relationship marketing is easy to implement.

Relationship marketing is more effective when there is a personal, ongoing relationship between individuals in the selling and buying organizations.

Very few companies today are engaged in relationship marketing.

The Internet is an ideal forum for relationship marketing.

Question 19. 19. (TCO 1) A local university in Lynchburg, VA offers an outstanding business school education. Cali pays the tuition to attend Daniels and earns her MBA with a concentration in supply chain management. Upon graduating, she is offered a high-paying, fulfilling position. Was this a marketing exchange? (Points : 5)

No, because the university is a private one.

Yes, because the university is profitable.

Yes, because paying tuition was exchanged for knowledge that directly led to Cali's fulfilling new job.

No, because money was exchanged.

No, because the school did not provide Cali with a product.

Question 20. 20. (TCO 6) Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese. Some versions contain Capri Sun drinks. Others are called Cracker Stackers and Fun Fuel. The box is bright yellow and the quantity of food contained within is small. The target market for Kraft Lunchables is most likely (Points : 5)

moms of school-aged children.

businesspeople looking for a quick snack.

business travelers.

teenagers.

seniors.

Question 21. 21. (TCO 3) Which element of the marketing mix is demonstrated when the Mars Company has a sale on M&M’s brand candies? (Points : 5)

Product

Price

Promotion

Place

Production

Question 22. 22. (TCO 5) Google's myspace.com is a social network that is targeted primarily to people under the age of 25. Increasing use of myspace.com as a networking tool for this target market is an example of how _____ forces impact the marketing environment. (Points : 5)

economic

competitive

social

regulatory

ecological

Question 23. 23. (TCO 7) In 1998, F. Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plotting to raise and fix prices of vitamins used in virtually every home in the United States. This is an example of how _____ forces affect the marketing environment. (Points : 5)

economic

ecological

technological

social

regulatory

Question 24. 24. (TCO 6) Graham-Field Health Products makes hospital beds and wheelchairs from component parts and materials it buys. It sells its products to hospitals, nursing homes, and retailers of healthcare products. Graham-Field Health Products operates in a(n) _____ market. (Points : 5)

consumer

government

industrial

reseller

demographic

Question 25. 25. (TCO 1) Several years ago, SwissAir made some unwise investments to pay for a planned expansion. As a result, the company had to make some cost-cutting moves that alienated its customers. Eventually the company declared bankruptcy, regrouped, and found itself able to resume business. Its board of directors recently announced that the company would like to resume flying. Before resuming flying, SwissAir needed to determine what percentage of its former customers it could expect to return to the airline. If not enough former customers were willing to use SwissAir again, the resumption of flights would not be profitable. The determination of the percentage of returning patrons that would be needed to resume operation is an example of a (Points : 5)

research risk.

research objective.

research uncertainty.

research decision.

research definition.

Question 26. 26. (TCO 3) The Belsen interview is a means of pretesting media surveys. It gathers facts and figures by asking people about their attitudes, beliefs, and awareness of various media. With this technique, the respondent is interviewed twice, first by an interviewer using the proposed survey and then by a different interviewer, who asks questions about the survey itself. The Belsen interview uses _____ data. (Points : 5)

observational

secondary

intercept

questionnaire

synergistic

Question 27. 27. (TCO 4) Sara Burns is the owner of a company called Spice and was looking for a new product to go with her company's line of food condiments when a customer suggested combining spices with tea. This is an example of (Points : 5)

accidental invention.

idea generation.

bootlegging ideas.

serendipitous management.

serendipitous innovation.

Question 28. 28. (TCO 4) A few years ago, American Idol premiered as the first nighttime talent show in several decades. The marketing for the show was intent on making television viewers aware of its existence and excited enough about the show that they would watch the first episode. Based on this description, in which stage of the product life cycle would this show be? (Points : 5)

Introduction

Growth

Maturity

Decline

Harves

Question 29. 29. (TCO 7) When an Avon representative sells cosmetics door-to-door, it is an example of which type of marketing channel? (Points : 5)

Direct channel

Indirect channel

Strategic channel alliances

Marketing channel

Dual distributive channel

Question 30. 30. (TCO 2) To promote its theme parks to groups, Disney is using advertising, direct marketing, Internet promotion, and partnerships with other companies. In other words, Disney is using (Points : 5)

implemented market codes (IMC).

interactive media convergence (IMC).

an infrastructure of market customization (IMC).

integrated marketing communications (IMC).

integrated media convergence (IMC).

Question 31. 31. (TCO 2) When a news story covers a terrible disaster and viewers are asked to send donations to the American Red Cross, the American Red Cross is receiving (Points : 5)

publicity.

advertising.

direct marketing.

personal selling.

a public service announcement.

Question 32. 32. (TCO 7) Recently American Express, Visa, and MasterCard have been pushing hard into the small-ticket end of the credit card market. The purchase of items such as fast food meals, movie popcorn, and candy have been targeted as growth areas for credit card usage. This is an example of a _____ strategy on the part of the credit card companies. (Points : 5)

market penetration

market development

product development

diversification

product dissemination

Page 2

Question 1. 1. (TCO 1) Discriminate between primary data and secondary data and their usefulness to business decision making, being sure to discuss the advantages and disadvantages of each. Your response should also identify the typical sources for primary and secondary data and what you would rely on most heavily in making your marketing decisions. (Points : 30)

Question 2. 2. (TCO 3) Imagine that you are creating a marketing plan for a company that will sell motor scooters. As you consider the marketing program, what types of strategy should you consider including in the plan? Propose one specific example of each type of strategy that you are considering, and present your rationale (reasoning) for your strategy selections. (Points : 30)

Question 3. 3. (TCO 4) Imagine that you are the product manager for a new electric car similar to the Chevrolet Volt or Toyota Prius. Using all of your knowledge of the new product life cycle, speculate on the stages of the life cycle your electric car will pass through, being sure to discuss the marketing objectives in each stage and giving specific examples of the objectives, along with your reasoning for creating the objective. (Points : 30)