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MKT 421 Final Exam 7

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1) According to the text, marketing means:
A
.
Advertising.
B
.
Much more than selling and advertising.
C
.
Selling.
D
.
Producing and selling.
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) Which of the following statements best describes the modern view of marketing?
A
.
Marketing begins with anticipating potential customer needs.
B
.
The job of marketing is to get rid of whatever the company is producing.
C
.
Marketing should take over production, accounting, and financial services
within a firm.
D
.
Marketing is concerned with generating a single exchange between a firm and
a customer.
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 process.
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
proposition.

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5) 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.
6) 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.
D
.
Market development.
7) The marketing mix
A
.
Includes four variables—advertising, personal selling, customer service, and
sales promotion.
B
.
Helps to organize the marketing strategy decision areas.
C
.
Includes four variables—People, Place, Promotion, and Price.
D
.
Includes the target market
8) A firm's marketing mix decision areas would NOT include:
A
.
Product
B
.
Price
C
.
Promotion

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