MKT 421 Final Exam Guide 4.pdf

MKT 421 Final Exam Guide 4Click Here to Buy the Tutorialhttp://www.uophelp.com/MKT-421-%28NEW%29/product-6481-MKT-421-Final-Exam-Guide-4For more course tutorials visitwww.uophelp.com1) Predicting what types of bicycles different customers will want and deciding which of thesecustomers the business will try to satisfy areactivities a firm should do as part of2) For Tesla, a new firm that makes an electric sports car, estimating how many competitors willmake electric vehicles and what kindsthey will make, is:3) According to the text, marketing means:A. Selling.B. Advertising.C. Producing and selling.D. Much more than selling and advertising.4) To compete more successfully with its many competitors offering packaged cookies, FamousAmos added its own line of extra chunky

premium cookies. This seems to be an effort at:5) Professional Dental Supply has been successfully selling dental instruments to dentists for thepast 20 years, and has developed strongcustomer relations. When looking for new marketing opportunities, Professional Dental Supplywill most likely look first at6) Which of the following statements regarding marketing strategies is FALSE?7) The marketing mix8) A firm's marketing mix decision areas would NOT include:9) Product is NOT concerned with:10) When one considers the strategy decisions organized by the four Ps, branding is related topackaging as:11) Dell, Inc. wants to offer customers televisions in addition to computers. This is a change intheir _____________________

12) Big Fizz Co., a manufacturer of cola-flavored drinks, wants to add packaged fruit juices to itsexisting product line. Big Fizz mustmake some decisions regarding packaging and branding of the fruit juices. These decisionswould fall under which variable of themarketing mix?13) A marketing plan is:14) The main difference between a marketing strategy and a marketing plan is that:15) Which of the following would probably NOT be in a proposed marketing plan?16) Marketing strategy planners should recognize that:17) Good marketing strategy planners know that:18) Target marketing, in contrast to mass marketing,19) Clustering techniques applied to segmenting markets

20) The process of naming broad product-markets and then segmenting them in order to selecttarget markets and develop suitablemarketing mixes is called:21) ______________ is the process of naming broad product-markets and then segmenting thesebroad product-markets in order to selecttarget markets and develop suitable marketing mixes.22) A ______________ is an organized way of continually gathering and analyzing data to getinformation to help marketing managersmake ongoing decisions.23) ________________ ________________ utilizes qualitative and quantitative analysisprocedures to help marketing managers makemore informed decisions.24) Procedures that develop and analyze new information to help marketing managers makedecisions are called:

25) The part of the relevant population that is surveyed by a researcher is called the:26) One of the major disadvantages of the focus group interview approach is that27) When focus group interviews are used in marketing,28) The marketing manager at Massimino & McCarthy, a chain of retail stores that sells men'sclothing, is reviewing marketing researchdata to try to determine if changes in marketing strategy are needed. Which of the followingsources of data would be a secondary datasource?29) A small manufacturing firm has just experienced a rapid drop in sales. The marketingmanager thinks that he knows what the problemis and has been carefully analyzing secondary data to check his thinking. His next step should beto:30) The observing method in marketing research:

31) Market segmentation:32) Which is the first step in market segmentation?33) The first step in market segmentation should be:34) Which of the following is NOT one of the text's product life cycle stages?35) Which of the following is a DEMOGRAPHIC segmenting dimension?36) The product life cycle has four stages. Which of the following is NOT one of these?37) Regarding product life cycles, which of the following is NOT true?38) During the MARKET INTRODUCTION stage of the product life cycle:

39) An industry's sales have leveled off and profits are declining in oligopolistic competition.Consumers see competing products ashomogeneous. Several firms have dropped out of the industry, but a new one entered recently.Firms in the industry are trying to avoidprice-cutting by spending on persuasive advertising. These firms are competing in which stage ofthe product life cycle?40) Noise (in the traditional communication process) refers to:41) SGCA is having a sales contest to encourage retailers to quickly reduce the inventory ofSuperGamer computers. Retailers with thehighest sales during the next month win an expense paid trip to a special dealer meeting at aresort in Hawaii. This is A. An example ofcooperative advertising.42) Price reductions given to channel members to encourage them to advertise or otherwisepromote a firm's products locally are:43) The Canyonlands Corporation is introducing a new product next month. To prepare for theintroduction, the marketing manager is

having his sales force call on distributors to explain the unique features of the new product, howthe distributors can best promote it, andwhat sales volume and profit margins they can reasonably expect. In addition, Canyonlands isbudgeting 2% of its estimated sales formagazine advertising. This is an example of:44) American Tourister, Inc.—a producer of luggage—is planning to introduce a new productline. The marketing manager is having hersales force call on retailers to explain American Tourister's consumer advertising plans, theunique features of the new luggage, how thedistributors can best promote it, and what sales volume and profit margins they can reasonablyexpect. This is an example of:45) A producer using very aggressive promotion to get final consumers to ask intermediaries fora new product has:46) Which of the following statements about positioning is NOT TRUE?47) Positioning analysis

48) Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. Toobtain some economies of scale, QCI decidedNOT to offer each of the submarkets a different marketing mix. Instead, it selected twosubmarkets whose needs are fairly similar, and iscounting on promotion and minor product differences to make its one basic marketing mixappeal to both submarkets. QCI is using the49) Which of the following is NOT a trend affecting marketing strategy planning in the area ofinternational marketing?50) When a company grows globally, this is an example of:51) A _____ is a market with very similar needs and sellers offering various close substituteways of satisfying those needs.52) Which of the following is a key trend affecting marketing strategy planning?

53) Which of the following statements DOES NOT indicate that a marketing manager is about tomake a serious mistake?54) Identify the incorrect statement about sales promotions.55) Many Internet sites, such as Autobytel.com and Edmunds.com, have extensive informationabout the prices of new and used vehiclesthat anyone can use for free. In light of the availability of this information, what is theresponsibility of consumers to use it?56) Which of the following statements about ethical behavior in business is true?57) The future poses many challenges for marketing managers because: