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<strong>MKT</strong> <strong>571</strong> <strong>Final</strong> <strong>Exam</strong><br />
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<strong>MKT</strong> <strong>571</strong> <strong>Final</strong> <strong>Exam</strong> (Newest)<br />
1. The stage in the new product process that occurs first and has a pass ratio<br />
of 1:4 is the ________ stage.<br />
test marketing<br />
idea screening<br />
product development<br />
product soft launch<br />
2. If Ming was interested in capturing distribution metrics for her retail<br />
organization, which of the following might she consider?<br />
Customer complaints<br />
Effective reach<br />
Share of shelf<br />
Trial rate<br />
3. Creative strategies refer to the ________.<br />
amount of creative content in a communications message<br />
degree of innovation involved in the marketing of a product<br />
way marketers translate their messages into a specific communication<br />
novelty of a marketing communication
4. Top Gear is an award-winning British television series about motor vehicles,<br />
mainly cars. The show is presented by hosts who test drive new cars and<br />
provide reviews on the cars' performance, prices, and other factors. Which<br />
of the following personal communications channels is Top Gear closest to in<br />
description?<br />
Formal channel<br />
Sponsored channel<br />
Social channel<br />
Expert channel<br />
5. Mark feels that Shell delivers on its promises to supply the best gasoline<br />
possible to the public. His experiences with Shell have always been good,<br />
resulting in positive brand contact. Mark is most likely experiencing brand<br />
________.<br />
parity<br />
alliance<br />
bonding<br />
essence<br />
6. Robert is the owner of an automobile manufacturing company. He calls for<br />
a board meeting and tells his directors that he wants to build a car that lets<br />
drivers experience power and exhilaration. He tells them that the car must<br />
allow users to soar from 0 to 60 mph in about 4 seconds. He also says the<br />
price of the car must be affordable enough for anybody making a good<br />
salary. In accordance with the given scenario, Robert is trying to segment<br />
the market on the basis of ________.<br />
family size<br />
occupation<br />
nationality<br />
benefits
7. ROC Engineering, a Chinese shipbuilding company, agrees to build a fleet of<br />
submarines for the Sri Lankan navy, for which it will be paid in Sri Lankan<br />
currency. As per the agreement, ROC must also spend a substantial amount<br />
of the money it generates through this deal within the country. In<br />
accordance with the contract, ROC buys Sri Lankan tea at a reduced rate.<br />
This is an example of which of the following forms of countertrade?<br />
barter<br />
descending bid<br />
offset<br />
compensation deal<br />
8. The ________ environment includes the actors involved in producing,<br />
distributing, and promoting an offering. The main actors are the company,<br />
suppliers, distributors, dealers, and the target customers.<br />
economic<br />
task<br />
management<br />
strategic<br />
9. Apple hosts a large number of ________, which become customers'<br />
primary source of product information after warranties expire and are<br />
organized by product lines and type of user (consumer or professional).<br />
niche networks<br />
blogs<br />
online communities<br />
microblogs<br />
10. With respect to powerful brand elements, ________ is an extremely<br />
efficient means to build brand equity. This element functions as a useful<br />
"hook" to help consumers grasp what the brand is and what makes it<br />
special.<br />
a product's shape<br />
a slogan
a patent<br />
the tangibility of a product<br />
11. Which of the following best describes BR Chicken's value proposition?<br />
We sell chicken at most major malls.<br />
We sell tender golden chicken at a moderate price.<br />
We undertake home delivery services.<br />
We target quality-conscious consumers of chicken.<br />
12. A ________ is a comprehensive, systematic, independent, and periodic<br />
examination of a company's or business unit's marketing environment,<br />
objectives, strategies, and activities, with a view to determining problem<br />
areas and opportunities and recommending a plan of action to improve the<br />
company's marketing performance.<br />
Market-based scorecard analysis<br />
Marketing audit<br />
Test market<br />
Marketing plan<br />
13. During which of the following stages in new product development<br />
decision-making do managers analyze if they can find a good idea<br />
consumers say they would try?<br />
business analysis<br />
concept development and testing<br />
idea screening<br />
idea generation<br />
14. When the Modern Museum of Art separated its consumers by whether<br />
they were culture-oriented or outdoor-oriented for its new exhibit on art<br />
that used natural materials, they were using ________ segmentation.<br />
personality<br />
behavioral occasions<br />
Psychographic lifestyle
social class<br />
15. Which of the following is the strongest differentiator for brick-and-mortar<br />
stores who want to emphasize their superiority over online retailers?<br />
pricing<br />
product range<br />
the shopping experience<br />
product quality<br />
16. In an attempt to improve their product, a company that manufactures<br />
screwdrivers discusses the modification of each attribute, such as replacing<br />
the wooden handle with plastic, providing torque power, adding different<br />
screw heads, and so on. This creativity technique is called ________.<br />
attribute listing<br />
morphological analysis<br />
lateral analysis<br />
mind mapping<br />
17. Josh separated people who wanted a high quality lawn mower from<br />
people who wanted a low priced lawn mower, then examined whether<br />
different characteristics were associated with each consumer-response<br />
segment. Josh was defining segments using ________ considerations.<br />
behavioral<br />
demographic<br />
descriptive<br />
psychographic<br />
18. Joe is a computer service technician. People in his neighborhood usually<br />
depend on his suggestions for purchasing any computer accessory or<br />
hardware, as they believe he has access to far more information on<br />
computer technology than the average consumer. The neighbors are also<br />
aware that Joe has the required knowledge and background for
understanding the technical properties of the products. Within this context,<br />
Joe can be called a(n) ________.<br />
transactional leader<br />
gate keeper<br />
role model<br />
opinion leader<br />
19. When a firm aims to underprice competitors and win market share, it is<br />
using a(n) ________ strategy that requires relatively fewer marketing skills<br />
as compared to other strategies.<br />
overall cost leadership<br />
product differentiation<br />
focus<br />
domestic customer relationship<br />
20. ________ analysis looks at specific products, territories, and so forth that<br />
failed to produce expected sales.<br />
Expense-to-sales<br />
Sales variance<br />
Microsales<br />
Full costing<br />
21. Sapphire Toys actually sells more than toys. It also sells branded clothing,<br />
music CDs, and books for children. This expansion of dealership sales<br />
offerings is an attempt to increase the value of the customer base by<br />
________.<br />
enhancing the growth potential of each customer through cross-selling<br />
making low-profit customers more profitable<br />
increasing the longevity of the customer relationship<br />
reducing the rate of customer defection
22. Volkswagen concentrates on the small-car market and Porsche on the<br />
sports car market. These would be examples of what is called ________.<br />
single-segment concentration<br />
market specialization<br />
product specialization<br />
selective specialization<br />
23. Companies provide rewards to customers who buy often and in<br />
substantial amounts. These reward schemes are referred to as ________<br />
programs.<br />
satisfaction<br />
benefit<br />
frequency<br />
profitability<br />
24. Which of the following questions is answered during the business analysis<br />
of ideas?<br />
Can we find a cost-effective, affordable marketing strategy?<br />
Can this product meet sales expectations?<br />
Will this product meet our profit goals?<br />
Have we got a technically and commercially sound product?<br />
25. You are the marketing research director of a medium-sized manufacturing<br />
firm and you would like to engage an outside marketing research firm to<br />
conduct field interviews. Which of the following categories of marketing<br />
research firms should you use?<br />
specialty-line marketing research firms<br />
custom marketing research firms<br />
global research management firms<br />
syndicated-service research firms
26. Market-penetration, product-development, and market-development<br />
strategies would all be examples of ________ strategies.<br />
conglomerate<br />
horizontal<br />
concentric growth<br />
intensive growth<br />
27. ________ gives products the appearance of being more environmentally<br />
friendly without living up to that promise.<br />
Greenwashing<br />
Astroturfing<br />
Viral marketing<br />
Ambush marketing<br />
28. When a company introduces a product at a high price and then gradually<br />
drops the price over time, it is pursuing a ________ strategy.<br />
switching cost<br />
market-skimming pricing<br />
market-penetration pricing<br />
value-pricing<br />
29. It has been observed that most new products have shorter product life<br />
cycles. What is the reason for this?<br />
New products do not get adequate management support.<br />
Most new products are not backed by a marketable idea.<br />
Social and governmental constraints lead to this failure.<br />
Rivals quickly copy products that are successful.
30. A group of products within a product class that are closely related because<br />
they perform a similar function, are sold to the same customer groups, are<br />
marketed through the same outlets or channels, or fall within given price<br />
ranges is known as a ________.<br />
product class<br />
product variant<br />
product line<br />
product type<br />
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