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MKT 421 Final Exam 4




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1) Predicting what types of bicycles different customers will want and deciding
which of these customers the business will try to satisfy are activities a firm
should do as part of
A. A command economy.
B. Production.
C. Marketing.
D. Making goods or performing services.
2) For Tesla, a new firm that makes an electric sports car, estimating how many
competitors will make electric vehicles and what kinds they will make, is:
A. A part of marketing.
B. One of the universal functions of innovation.
C. A production activity.
D. An example of the micro-macro dilemma.
3) According to the text, marketing means:
A. Advertising.
B. Much more than selling and advertising.
C. Selling.
D. Producing and selling.
4) Which of the following statements regarding marketing strategies is FALSE?
A. These strategies require decisions about the specific customers the firm will target
and the marketing mix the firm will develop to appeal to that target market.
B. It is useful to think of the marketing strategy planning process as a narrowing-down
C. These strategies must meet the needs of target customers, and a firm is likely
to get a competitive advantage if it just meets needs in the same way as some
other firm.
D. Developing successful marketing strategies does not need to be a hit-or-miss
5) To compete more successfully with its many competitors offering packaged
cookies, Famous Amos added its own line of extra chunky premium cookies. This
seems to be an effort at:
A. Product development.
B. Combination.
C. Market penetration.

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D. Market development.
6) Professional Dental Supply has been successfully selling dental instruments to
dentists for the past 20 years, and has developed strong customer relations.
When looking for new marketing opportunities, Professional Dental Supply will
most likely look first at
A. Product development.
B. Market penetration.
C. Diversification.
D. Market development.
7) Product is NOT concerned with:
A. Packaging.
B. Quality level.
C. Branding.
D. Wholesale price.
8) The marketing mix
A. Includes four variables—advertising, personal selling, customer service, and sales
B. Includes four variables—People, Place, Promotion, and Price.
C. Includes the target market
D. Helps to organize the marketing strategy decision areas.
9) The four Ps of a marketing mix are:
A. Product, Place, Promotion, and Price
B. Production, Personnel, Price, and Physical Distribution
C. Promotion, Production, Price, and People
D. Product, Price, Promotion, and Profit
10) Dell, Inc. wants to offer customers televisions in addition to computers. This
is a change in their _____________________
A. promotional.
B. pricing.
C. product.
D. personnel.
11) A firm's decisions regarding channel type, market exposure, and kinds of
intermediaries would fall under the marketing mix variable of
A. Place.
B. Product.
C. Price.
D. Promotion.
12) When one considers the strategy decisions organized by the four Ps,
branding is related to packaging as:

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A. Production is to marketing.
B. Branding is to pricing.
C. Personal selling is to mass selling.
D. Store location is to sales force selection.
13) Which of the following would probably NOT be in a proposed marketing plan?
A. A statement of how frequently the design of the website will be changed.
B. A list of what company resources (costs) would be required.
C. A description of the target market and marketing mix.
D. Expected sales and profit results.
14) The main difference between a marketing strategy and a marketing plan is
A. A marketing plan includes several marketing strategies.
B. Time-related details are included in a marketing plan.
C. A marketing strategy omits pricing plans.
D. A marketing strategy provides more detail.
15) Which of the following is part of a complete marketing plan?
A. Competitors' marketing strategies.
B. What company resources (costs) are required and at what rate.
C. How different marketing mixes (for different target markets) relate to each other.
D. All of these.
16) Marketing strategy planners should recognize that:
A. Mass marketing is often very effective and desirable.
B. Target markets should not be large and spread out.
C. Target marketing is not limited to small market segments.
D. Large firms like General Electric, Target, and Procter & Gamble are too large to aim
at clearly defined markets.
17) Good marketing strategy planners know that:
A. Target marketing does not limit one to small market segments.
B. Firms like Nabisco and WalMart are too large to aim at clearly defined target markets.
C. The terms mass marketing and mass marketer mean basically
19) Clustering techniques applied to segmenting markets
A. Usually require computers to group people based on data from market
B. Remove the need for managerial judgment.
C. Eliminate the need for marketing managers to specify in advance what dimensions
might be relevant for grouping consumers.
D. All of the above are true.

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Awesome! Perfect study aid.