MKT 421 Final Exam Guide 6.pdf

MKT 421 Final Exam Guide 6Click Here to Buy the Tutorialhttp://www.uophelp.com/MKT-421-%28NEW%29/product-6483-MKT-421-Final-Exam-Guide-6For more course tutorials visitwww.uophelp.com) According to the text, marketing means:2) 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) Which of the following statements best describes the modern view of marketing?4) Which of the following statements regarding marketing strategies is FALSE?

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) To compete more successfully with its many competitors offering packaged cookies, FamousAmos added its own line of extra chunkypremium cookies. This seems to be an effort at:7) The marketing mix8) A firm's marketing mix decision areas would NOT include:9) The four Ps of a marketing mix are:

10) A firm's decisions regarding channel type, market exposure, and kinds of intermediarieswould fall under the marketing mix variable of11) When one considers the strategy decisions organized by the four Ps, branding is related topackaging as: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) Which of the following would probably NOT be in a proposed marketing plan?14) Which of the following is part of a complete marketing plan?15) A marketing plan is:

16) Target marketing, in contrast to mass marketing,17) Marketing strategy planners should recognize that:18) Good marketing strategy planners know that:19) ______________ is the process of naming broad product-markets and then segmenting thesebroad product-markets in order to selecttarget markets and develop suitable marketing mixes.20) Clustering techniques applied to segmenting markets

21) The process of naming broad product-markets and then segmenting them in order to selecttarget markets and develop suitablemarketing mixes is called:22) Procedures that develop and analyze new information to help marketing managers makedecisions are called:23) ________________ ________________ utilizes qualitative and quantitative analysisprocedures to help marketing managers makemore informed decisions.24) A ______________ is an organized way of continually gathering and analyzing data to getinformation to help marketing managersmake ongoing decisions.25) The part of the relevant population that is surveyed by a researcher is called the:

26) Marketing research which seeks structured responses that can be summarized is called:27) Focus groups:28) 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:29) The observing method in marketing research:30) The attitudes and behavior patterns of people are part of the

31) The first step in market segmentation should be:32) ______________ is the process of naming broad product-markets and then segmenting thesebroad product-markets in order to selecttarget markets and develop suitable marketing mixes.33) Market segmentation:34) The product life cycle:35) The product life cycle has four stages. Which of the following is NOT one of these?36) Which of the following is a DEMOGRAPHIC segmenting dimension?37) During the market introduction stage of the product life cycle:38) An industry's sales have leveled off and profits are declining in oligopolistic competition.Consumers see competing products as

homogeneous. 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?39) Which of the following observations concerning the market maturity stage is NOT TRUE?40) While watching a television program, Liza gets a phone call just as a commercial is starting.She presses the mute button on thetelevision's remote control and takes the call, so she pays no attention to the commercial. Interms of the communication process, thetelephone call is an example of:41) Price reductions given to channel members to encourage them to advertise or otherwisepromote a firm's products locally are:42) Noise (in the traditional communication process) refers to: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) Nantucket Hammocks, Inc. uses dealer incentives, discounts, and sales contests in order toencourage retailers to give special attentionto selling its products. Nantucket Hammocks is using45) Integrated direct-response promotion:46) Positioning analysis47) 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 is

counting on promotion and minor product differences to make its one basic marketing mixappeal to both submarkets. QCI is using the48) When segmenting broad product-markets, cost considerations tend49) Which of the following is NOT a trend affecting marketing strategy planning in the area ofinternational marketing?50) A _____ is a market with very similar needs and sellers offering various close substituteways of satisfying those needs.51) When a company grows globally, this is an example of:52) Identify the incorrect statement about sales promotions.53) It is usually the _________ job, perhaps with help from specialists in technology, to decidewhat types of sales technology tools areneeded and how they will be used.54) Which of the following is a key trend affecting marketing strategy planning?

55) Which of the following statements about ethical behavior in business is true?56) 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?57) The future poses many challenges for marketing managers because: