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12/30/2015 Principles of Marketing Final Exam Principles of Marketing Final Exam Luigi Gjurashaj is taking this assessment. Multiple Choice 1. Fresh and Fast Foods is an example of a company that attempts to target a wide variety of people with its marketing campaigns. Because they choose to target a broad market, which of the following marketing strategies is Fresh and Fast Foods using? (1 point) differentiated marketing concentrated marketing micromarketing undifferentiated marketing 2. https://www.connexus.com/content/render.aspx?disableAssess... 1/27 12/30/2015 Principles of Marketing Final Exam Which of the following was developed by governments to guide commerce? (1 point) consumer standards public policy political environment company protector 3. A marketing strategy that stimulates immediate consumer action is (1 point) public relations. advertising. personal selling. sales promotion. 4. https://www.connexus.com/content/render.aspx?disableAssess... 2/27 12/30/2015 Principles of Marketing Final Exam A small percentage of increase in consumer demand can cause ________ in business demand. (1 point) increase decrease no change panic 5. Indirect channels of distribution include ________________ to help move the product to the consumer or business user in some way. (1 point) channel intermediaries knowledge management merchandise agents merchant wholesalers 6. https://www.connexus.com/content/render.aspx?disableAssess... 3/27 12/30/2015 6. Principles of Marketing Final Exam Competitive intelligence activities occur so that a company can use information about a competitor’s new products to (1 point) develop superior marketing strategies for its own products. steal new product ideas and market them as its own. develop products that are very similar to the competition. develop products like the competition, but be the first to release them to consumers. 7. Consumer services and benefits, product support and warranty, and product delivery is considered which product level? (1 point) augmented product actual product https://www.connexus.com/content/render.aspx?disableAssess... 4/27 12/30/2015 Principles of Marketing Final Exam customer value consumer product 8. A well­planned ______________ campaign can be very effective and economical for a company. (1 point) public relations advertising personal selling political 9. https://www.connexus.com/content/render.aspx?disableAssess... 5/27 12/30/2015 Principles of Marketing Final Exam Lindsay is leading the marketing team for a new type of hair gel. This new type of hair gel has been proven to keep its hold while leaving hair soft for at least 8 hours. The marketing plan is in the control process stage. As Lindsay leads the team, what is one step she should avoid during this phase? (1 point) comparing a product’s actual performance to the marketing objectives making adjustments to marketing objectives based on a product’s actual performance measuring a product’s actual performance writing new marketing objectives based on a product’s actual performance 10. https://www.connexus.com/content/render.aspx?disableAssess... 6/27 12/30/2015 Principles of Marketing Final Exam Marketing can be most seriously affected by which of the following? (1 point) competitors supplier problems consumers financial problems 11. The local bookstore is trying to compile information about transactions between customers. Which of the following is not a reason the store would rate a transaction as valuable. (1 point) The transaction makes a seller prestigious among the competition. The transaction allows a seller to take pride in its produce. The transaction allows a customer https://www.connexus.com/content/render.aspx?disableAssess... 7/27 12/30/2015 Principles of Marketing Final Exam to pay the cheapest price for the produce. The transaction motivates or educates the public. 12. Marketing involves actions to build and maintain (1 point) marketing relationships. exchange relationships. value relationships. service relationships. 13. https://www.connexus.com/content/render.aspx?disableAssess... 8/27 12/30/2015 Principles of Marketing Final Exam Sam received an e­mail the other day from a well­known candy company. In the e­mail, the company encouraged Sam to dress up like their candy. . . after all, you are what you eat! Sam decided to try it, and he sent a picture of his costumed self to several of his colleagues so that they could make themselves dress up like the candy too. Soon, Sam’s colleagues had printouts of their costume photos hanging in their cubicles. The e­mail is an example of __________ marketing. (1 point) viral direct guerilla sales 14. https://www.connexus.com/content/render.aspx?disableAssess... 9/27 12/30/2015 Principles of Marketing Final Exam Samantha, who is the vice president of the marketing department, has asked you to prepare a positioning map for her presentation to the board. What information are you preparing for her to present? (1 point) You are preparing a map that shows consumer perceptions of the company’s brands versus the competition’s products. You are preparing a map that shows where the company’s target market consumers live and shop. You are preparing a map that shows where the company’s stores are located. You are preparing a map that shows how consumers use the company’s products on a daily basis. 15. https://www.connexus.com/content/render.aspx?disableAssess... 10/27 12/30/2015 Principles of Marketing Final Exam __________________ includes all activities necessary to turn raw materials into a good or service, and to put that product into the hands of a consumer or business customer. (1 point) Channel intermediation Disintermediation The distribution channel The supply chain 16. The Smith Sneaker Corporation wants to make a minimum profit of 30% on its newest running shoe. To set the selling price for the new shoe, the company would use ____________ pricing. (1 point) cost­based cost­plus variable­cost fixed­cost https://www.connexus.com/content/render.aspx?disableAssess... 11/27 12/30/2015 Principles of Marketing Final Exam 17. The market segment that is the focus of a firm’s marketing plan is the (1 point) market position target market market mix product market 18. The product development team of North Balance, a new workout routine, is brainstorming ideas and searching for new routine ideas for their workout. What stage is the company in of new product development? (1 point) idea source https://www.connexus.com/content/render.aspx?disableAssess... 12/27 12/30/2015 Principles of Marketing Final Exam idea generation concept development idea screening 19. Channel intermediaries play an important role in matching (1 point) distributors and consumers. manufacturers and marketers. supply and demand. advertising and products. 20. A company has in its inventory lumber and iron ore to use in product manufacturing. The lumber and iron ore represent ____________ for the company. (1 point) https://www.connexus.com/content/render.aspx?disableAssess... 13/27 12/30/2015 Principles of Marketing Final Exam supplies services capital items materials 21. When a company introduces a product at a very low price to generate consumer interest, but then raises the prices after the introductory period, it is using (1 point) penetration pricing. trial pricing. skimming pricing. value pricing. 22. https://www.connexus.com/content/render.aspx?disableAssess... 14/27 12/30/2015 Principles of Marketing Final Exam Louis stepped off the train on his way home from work one evening to see Express Mobile employees leading a large number of commuters in a dance routine, right there in the middle of the train station. This trick is an example of _____________ marketing. (1 point) viral direct guerilla sales 23. Jacob is leading the strategic planning meetings for the nonprofit organization he works for. They are a new organization and are working toward getting all staff on the same page regarding the big picture and goals of the organization. What is the first step that Jacob needs to do in the strategic planning process? (1 point) https://www.connexus.com/content/render.aspx?disableAssess... 15/27 12/30/2015 Principles of Marketing Final Exam Define a mission statement. Evaluate core values of the organization. Establish long­term goals for the organization. Develop growth strategies for the organization. 24. Marketers should keep a close eye on the ___________ environment to ensure that their product sales don’t decline when a competitive product is released. (1 point) natural. political. technological. cultural. 25. https://www.connexus.com/content/render.aspx?disableAssess... 16/27 12/30/2015 Principles of Marketing Final Exam The Anytime Gym is launching new services to attract more customers. They offer a variety of fitness equipment, and are now offering free child care, a smoothie bar, and extended gym hours. Which of these is an example of a core service offered by Anytime Gym? (1 point) free child care smoothie bar fitness equipment extended hours 26. Which of the following is not a characteristic of an organizational objective? (1 point) specific attainable long­term measurable https://www.connexus.com/content/render.aspx?disableAssess... 17/27 12/30/2015 Principles of Marketing Final Exam 27. Burger Buddies restaurant chain is attempting to bring back their fried fish sandwich. It is an old favorite, but in recent times has lost its popularity with customers. The burger chain has hired a marketing firm to find new customers for the fried fish sandwich. What does the marketing firm need to focus their efforts on? (1 point) consumer modification market modification product modification marketing mix modification 28. The marketing department for Milly’s Organic Foods is analyzing their marketing strategy for the upcoming year. To be successful in the economic environment, the marketing team must pay attention to https://www.connexus.com/content/render.aspx?disableAssess... 18/27 12/30/2015 Principles of Marketing Final Exam (1 point) the marketing budget of Milly’s Organic Foods. the spending patterns of consumers in the market of organic foods. any changes the team has made so far in their marketing plan. the national debt. 29. https://www.connexus.com/content/render.aspx?disableAssess... 19/27 12/30/2015 Principles of Marketing Final Exam When Professor Park travels for business, she always rents her car through Station Rental Company because no matter the office location they honor her corporate rate. On her most recent three business trips, Professor Park has rented her car through Station Rental Company and she received her normal rate for the first two trips to Idaho and Florida, but she received a higher rate for the last trip to Oklahoma. Professor Park completed an online survey to express her disappointment that her normal rental rate was not honored at the Oklahoma rental office. This scenario is an example of which service characteristic? (1 point) marketability inseparability variability intangibility 30. https://www.connexus.com/content/render.aspx?disableAssess... 20/27 12/30/2015 Principles of Marketing Final Exam Advertisers use mass media to accomplish its purpose of product promotion (1 point) through personal communication to targeted consumers. to large numbers of consumers at one time. for the least amount of investment possible. through relationship building with target market consumers. 31. Consumers often use ____________ to make inferences about a product's quality and image. (1 point) advertisements price inventory target markets https://www.connexus.com/content/render.aspx?disableAssess... 21/27 12/30/2015 Principles of Marketing Final Exam 32. The market potential for a product or the demographics of the consumers who purchase the product would be identified in the _____________ research stage. (1 point) causal exploratory descriptive market 33. Membership groups are groups to which someone belongs that have ____________ influence over them. (1 point) social face­to­face indirect direct https://www.connexus.com/content/render.aspx?disableAssess... 22/27 12/30/2015 Principles of Marketing Final Exam 34. Which of the following is not an element of marketing? (1 point) product policy promotion price 35. Which of the following is not a business­to­ business (B2B) customer? (1 point) product producers online consumers product resellers government and not­for­profit https://www.connexus.com/content/render.aspx?disableAssess... 23/27 12/30/2015 Principles of Marketing Final Exam organizations 36. Kenneth has been scoping out the new edition of his SUV that will be released early next year. Because it is such a big purchase, he has been reading up on safety reports, comparing gas mileage, and reviews from car expert magazines. He wants to know everything about the car before purchasing it so there are no surprises. Kenneth’s situation is an example of which type of adoption? (1 point) innovator early adopters early majority laggards 37. https://www.connexus.com/content/render.aspx?disableAssess... 24/27 12/30/2015 Principles of Marketing Final Exam You are on the team of executives at Star Bank. You have been meeting as a team to discuss the future of the bank, including big picture goals of how to grow the company. What type of planning is this? (1 point) operational functional strategic consumer 38. Taylor always takes her dirty laundry to the same Laundromat to use the washer and dryers. Not only do they have a large number of washer and dryers, but they also have free Wi­Fi. Taylor does her school work while she waits for her laundry to dry. It is likely that Taylor chooses to use this Laundromat because of their _________ services. (1 point) https://www.connexus.com/content/render.aspx?disableAssess... 25/27 12/30/2015 Principles of Marketing Final Exam core tangible augmented operational 39. A buying situation in which the buyer first purchases a product or service is referred to as a (1 point) straight rebuy. modified rebuy. new buy. solution buy. 40. https://www.connexus.com/content/render.aspx?disableAssess... 26/27 12/30/2015 Principles of Marketing Final Exam Companies manage detailed information about customers as individuals and they can use that information to maximize customer loyalty. This process is referred to as (1 point) customer relationship management customer database management customer procurement management customer product management © Connections Education LLC. https://www.connexus.com/content/render.aspx?disableAssess... 27/27
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