MKT 421 Final Exam Assignment UOP Students
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<strong>MKT</strong> <strong>421</strong> <strong>Final</strong> <strong>Exam</strong> –<br />
<strong>Assignment</strong><br />
Questions to <strong>MKT</strong> <strong>421</strong> <strong>Final</strong> <strong>Exam</strong> Answers are as follow:<br />
1. Compared with other approaches to business, the marketing concept is<br />
distinct in that it:<br />
<br />
<br />
<br />
Produces new products and services.<br />
Focuses on satisfying customers' needs.<br />
Focuses on sales.
Creates a broad assortment of products.<br />
2. The sales analysis of a product revealed that profits were highest when it was<br />
initially introduced into the market with a high selling price. However, the price<br />
was gradually reduced as it started facing competition as substitutes entered the<br />
market. This is an example of a (n) _____.<br />
<br />
<br />
<br />
<br />
Skimming price policy<br />
Introductory price dealing<br />
Penetration price policy<br />
Temporary price cut policy<br />
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3. Behavioral targeting:<br />
<br />
<br />
<br />
<br />
Delivers ads to consumers based on previous websites the customer has visited.<br />
Tries to reach target customers who are actually interested in what the firm has<br />
to communicate.<br />
Tries to place ads on websites that are designed to appeal to the firm's target<br />
market.<br />
Allows advertisers to pay only when a customer clicks on the ad and links to the<br />
advertiser's website.<br />
4. Which of the following is true of direct distribution?<br />
<br />
<br />
<br />
<br />
It requires a significant investment in facilities.<br />
Direct distribution always serves customer needs better and at a lower cost.<br />
Most firms selling consumer products rely on direct distribution.<br />
It reduces a producer's need for working capital.<br />
5. The three basic sales tasks are:<br />
<br />
<br />
<br />
Order-closing, order-opening, and sales-promoting.<br />
Order-taking, missionary selling, and order-getting.<br />
Order-taking, supporting, and order-getting.
Order-taking, order-managing, and order-getting.<br />
6. A useful tool for organizing the competitor analysis is:<br />
<br />
<br />
<br />
<br />
The oligopoly chart.<br />
The competitive summary.<br />
A competitor matrix.<br />
Rivals chart.<br />
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7. Marketers cannot assume that a product that meets consumer needs in one<br />
country will do so in another. This is because:<br />
<br />
<br />
<br />
<br />
The purchase situations may be different.<br />
Family life cycles may be different.<br />
Many wants are culturally learned.<br />
Economic wants do not influence purchases in many regions of the world.<br />
8. The main difference between the "marketing department era" and the<br />
"marketing company era" is:<br />
<br />
<br />
<br />
<br />
More emphasis on short-run planning in the marketing company era.<br />
More emphasis on selling and advertising in the marketing department era.<br />
Whether the president of the firm has a background in marketing.<br />
Whether the whole company is customer-oriented.<br />
9. David Oreck advertises Oreck vacuum cleaners via commercials that run on<br />
national radio programs. He encourages consumers to "…try my 8-pound Oreck<br />
vacuum for free for 30 days," and to return it if they aren't satisfied. He then<br />
provides an easy-to-remember toll-free telephone number that consumers can<br />
use to place orders. Regarding the AIDA model, the free-trial period and<br />
availability of a toll-free number are devices used mainly to:
Obtain action.<br />
Hold interest.<br />
Arouse desire.<br />
Get attention.<br />
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10. More than 600,000 loyal customers signed up in advance to purchase the<br />
iPhone4 in an Apple store the first day it was available for sale in the U.S. What<br />
type of response behavior were these Apple followers demonstrating?<br />
<br />
<br />
<br />
<br />
Routinized response<br />
Low-involvement buying<br />
Limited problem solving<br />
Dissonance response<br />
11. Because she frequently buys books at Amazon.com, Sophie Soleil set up an<br />
account and password at the website. Now, when she logs on and searches for a<br />
specific book, a note pops up at the center of her laptop screen saying: "Hello,<br />
Sophie, we have recommendations for you," and proceeds to list other titles that<br />
Sophie might enjoy based on her previous purchases. Amazon can remember<br />
Sophie (and her previous purchases) because the online retailer uses:<br />
<br />
<br />
<br />
<br />
Banners.<br />
Cookies.<br />
Encoding.<br />
Decoding.<br />
12. When an advertiser pays a fixed amount (e.g. 70 cents) each time a Web surfer<br />
clicks on the advertiser's ad and links to the advertiser's website, this process is<br />
called a(n):<br />
<br />
<br />
pay-per-click.<br />
copy thrust.
pay-per-view.<br />
pioneering ad.<br />
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13. According to the concept of social responsibility, a firm has a duty to:<br />
<br />
<br />
<br />
<br />
Conduct business in a way that is good for society as a whole, both now and for<br />
the future.<br />
Communicate regularly with the public.<br />
Place profit above all other considerations.<br />
Place customer satisfaction above all other considerations.<br />
14. Which of the following is a common cause of new product failures?<br />
<br />
<br />
<br />
<br />
The company delays putting the product on the market until it develops a<br />
complete marketing plan.<br />
The company tries to follow an organized new-product development process—<br />
rather than using a faster and more spontaneous, "race-to-market" approach.<br />
The product fails to offer the customer a unique benefit.<br />
The managers worry too much about the competition.<br />
15. Tammi Soloft has itchy eyes and a stuffy nose, and suddenly becomes aware<br />
of many TV ads for allergy products that she never noticed before. This<br />
illustrates:<br />
<br />
<br />
<br />
<br />
reinforced cognition.<br />
selective perception.<br />
selective exposure.<br />
selective retention.<br />
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16. Genetech Corp. has invested heavily to develop a patented new product.<br />
Genetech wants to achieve a rapid return on its investment. It probably should<br />
set a ______________ pricing objective.<br />
<br />
<br />
<br />
<br />
Profit maximization<br />
Sales-oriented<br />
Status quo<br />
Target return<br />
17. When a company provides its advertising agency with a statement about a<br />
new product to use in designing an advertising campaign, and this statement<br />
includes a description of the target market, the product type, the primary benefits<br />
of using the product, and how this product is different from, and better than,<br />
competitive products, what type of statement is this?<br />
<br />
<br />
<br />
<br />
Qualifying<br />
Positioning<br />
Clustering<br />
Determining<br />
18. The advantages of working with an intermediary usually increase when there<br />
is:<br />
<br />
<br />
<br />
<br />
A greater number of customers.<br />
Little distance between customers.<br />
A smaller number of competing products.<br />
Excellent communication with customers.<br />
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19. When new product ideas are chosen based on ratings and comments from<br />
customers, this process is called ______.<br />
<br />
Reaction engineering
Creative resourcing<br />
Crowdsourcing<br />
Idea engineering<br />
20. In the 1990s, DVDs replaced audiocassettes and floppy disks as the storage<br />
media of choice for music and computers. At which stage of the product life cycle<br />
is the DVD today?<br />
<br />
<br />
<br />
<br />
Sales decline<br />
Market introduction<br />
Market extinction<br />
Market immaturity<br />
21. The primary purpose of branding is:<br />
<br />
<br />
<br />
<br />
To prevent competitors from stealing product ideas.<br />
To identify a product.<br />
To boost customer satisfaction.<br />
To enhance package design.<br />
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22. Clearwater Office Supply sells frequently purchased office supplies to<br />
businesses in a metropolitan area. It is a well-established company with a large<br />
share of the market. Its promotion should probably focus on:<br />
<br />
<br />
<br />
<br />
Reminding.<br />
Informing.<br />
Stimulating primary demand.<br />
Innovators.
23. The main difference between a "marketing strategy" and a "marketing plan" is<br />
that:<br />
<br />
<br />
<br />
<br />
A marketing strategy provides more detail.<br />
Time-related details are included in a marketing plan.<br />
A marketing plan includes several marketing strategies.<br />
A marketing strategy omits pricing plans.<br />
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24. From the perspective of macro-marketing, e-commerce specialists CarFax<br />
(which provides vehicle history reports) and Cars.com (a website offering auto<br />
comparison shopping) have emerged within the auto industry because:<br />
<br />
<br />
<br />
<br />
The information they provide makes the exchange process between producers<br />
and consumers more efficient and effective.<br />
The role of the automotive sales person is becoming obsolete.<br />
Auto manufacturers need to sell direct to consumers.<br />
The market needs competitive rivals to auto dealerships.<br />
25. In the American Marketing Association's Statement of Ethics, which ethical<br />
value stresses a firm's attempts to balance the needs of its buyers with the<br />
interests of sellers?<br />
<br />
<br />
<br />
<br />
Citizenship<br />
Responsibility<br />
Honesty<br />
Fairness<br />
26. Most firms in the business world set their prices using:<br />
<br />
<br />
<br />
Demand-oriented price setting.<br />
Federal price guidelines.<br />
Supply and demand analysis.
Cost-oriented price setting.<br />
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27. A producer might use a "pulling policy" rather than a "pushing policy" if:<br />
<br />
<br />
<br />
<br />
Intermediaries are reluctant to handle a new product.<br />
Its sales force has been very successful getting wholesalers and retailers to<br />
handle its product.<br />
It is offering a very "high-tech" product to a small product-market.<br />
It has a very limited promotion budget.<br />
28. The phrase "big data" refers to:<br />
<br />
<br />
<br />
<br />
the top five firms in the marketing research industry.<br />
the use of marketing research in big marketing decisions.<br />
the massive amount of data being collected and processed by today's<br />
organizations.<br />
marketing research data taken from Internet sources.<br />
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Guide<br />
29. In which quadrant of the SWOT analysis tool does the following fit? A firm is<br />
in a fast-growing industry.<br />
<br />
<br />
<br />
<br />
Weaknesses<br />
Opportunities<br />
Strengths<br />
Threats<br />
30. Blending the firm's promotion efforts to convey a complete and consistent<br />
message is the goal of:
Sales promotion communications.<br />
Integrated marketing communications.<br />
Integrated promotional marketing.<br />
Sales management communications.<br />
About Author<br />
This article covers the topic for the University of Phoenix <strong>MKT</strong> <strong>421</strong> <strong>Final</strong> <strong>Exam</strong>.The<br />
author is working in the field of education from last 5 years. This article covers the basic<br />
of <strong>MKT</strong> <strong>421</strong> <strong>Assignment</strong> Guide from <strong>UOP</strong>. Other topics in the class are as follows:<br />
<strong>MKT</strong> <strong>421</strong> Week 1 Discussion Questions<br />
<strong>MKT</strong> <strong>421</strong> Week 1 Defining Marketing Paper<br />
<strong>MKT</strong> <strong>421</strong> Week 1 Complete<br />
<strong>MKT</strong> <strong>421</strong> Week 2 Discussion Questions<br />
<strong>MKT</strong> <strong>421</strong> Week 2 Marketing Mix Paper<br />
<strong>MKT</strong> <strong>421</strong> Week 2 Complete<br />
<strong>MKT</strong> <strong>421</strong> Week 3 Discussion Questions<br />
<strong>MKT</strong> <strong>421</strong> Week 3 Marketing Research Paper<br />
<strong>MKT</strong> <strong>421</strong> Week 3 Marketing Plan Phase II<br />
<strong>MKT</strong> <strong>421</strong> Week 3 Complete<br />
<strong>MKT</strong> <strong>421</strong> Week 4 Discussion Questions<br />
<strong>MKT</strong> <strong>421</strong> Week 4 Marketing Plan Phase III<br />
<strong>MKT</strong> <strong>421</strong> Week 4 Complete<br />
<strong>MKT</strong> <strong>421</strong> Week 5 Environmental Factors Paper<br />
<strong>MKT</strong> <strong>421</strong> Week 5 Marketing Plan <strong>Final</strong> Paper and Presentation<br />
<strong>MKT</strong> <strong>421</strong> Week 5 Complete<br />
<strong>MKT</strong> <strong>421</strong> <strong>Final</strong> <strong>Exam</strong> Answers<br />
For further information on the above topics you can always visit the website<br />
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