MKTG 431 Final: Questions

Buyer's remorse affects business customers as well as consumers Select one: True False

False

In the United States, the federal government monitors the marketplace for possible infringement on registered brand names. Select one: True False

False

Many of the concepts covered in marketing apply to your personal life as well as your personal career. True or False?

True

Based on what you understand about the consumer buying process, why is it a good idea for Toyota to feature fuel economy in the advertisements for its hybrid Prius automobile. Select one: a. All of these are reasons why it is a good idea for Toyota to feature fuel economy in advertisements for its hybrid Prius automobile. b. Because one of the advantages of owning a hybrid car is that you use less gasoline. c. Because the company naturally wants customers focus on attributes where their product has an advantage over competitive products. d. Because it encourages consumers to use fuel economy as an evaluation criterion. The Prius compares very favorably to other cars on the basis of fuel economy. e. Because the Prius is more expensive than comparable cars that are not hybrids so it would not appear to be as favorable if a customer chose price as the evaluation criterion.

a. All of these are reasons why it is a good idea for Toyota to feature fuel economy in it's advertisements for its hybrid Prius automobile.

Which of the following is one of the two questions that should be answered when evaluating a marketing plan according to the material presented in class? Select one: a. Are there things we could have done better? b. Was credit given to the appropriate people? c. To whom should I report these results? d. Will these results survive an audit? e. Did we exceed our budget?

a. Are there things we could have done better?

Why is it that many businesses may be unaware of how they are actually perceived in the market place. Select one: a. Because much of the information executives get is from people who are paid by the company. b. Because market positions change rapidly and information is frequently out of date. c. Because customers may not be aware of their true feelings about a company or product. d. Because dissatisfied customers usually keep their feelings to themselves. e. Because sales information does not reflect peoples opinions about a company.

a. Because much of the information executives get is from people who are paid by the company

The group of people in an organization who become involved in the purchase decision are a(the) _________? Select one: a. Buying center b. Professional buyer c. Customer council d. Component parts. e. Decision makers

a. Buying center

When manufacturers engage in _______________, a form of trade sales promotion, a certain percentage of the retailer's sales goes into a fund that the retailer can use to advertise the manufacturer's product? Select one: a. Co-op advertising b. Allowances c. Samples d. Product placement e. Discount Feedback

a. Co-op advertising

A major drawback to every day low pricing is? Select one: a. Competitors can offer their products at a price slightly lower than yours. b. There is confusion over what the actual price of yoru products actually is. c. Many consumers, especially women, prefer to enter into price negotiations. d. Customers don't like the concept of every day low pricing. e. There are no sale periods.

a. Competitors can offer their products at a price slightly lower than yours.

When dealing with tangible products, consistency is usually measured in terms of? Select one: a. Defects b. Attributes. c. Cost/benefit analysis. d. Systems e. Features

a. Defects

The three steps for developing a market position (or for developing any strategy, really) are? Select one: a. Figure out where you are now, figure out where you want to end up, develop a plan to get you from where you are to where you want to be. b. Ready, fire, aim. c. Determine which positions look attractive, select the position you want to achieve, develop a plan to achieve the position. d. Determine your current situation, do a cost/benefit analysis of the desirability of changing, implement and evaluate the plan. e. Define the problem, hire consultants, implement their recommendations.

a. Figure out where you are now, figure out where you want to end up, develop a plan to get you from where you are to where you want to be

Which of the following statements about publicity is FALSE? Select one: a. Good publicity doesn't cost the marketer any money b. Press conferences are a common way to generate publicity c. Publicity is mass media communication d. Good publicity appears to be spontaneous e. Publicity is more credible than paid advertising

a. Good publicity doesn't cost the marketer any money

According to diffusion of innovations theory, the first 2.5% of the population to adopt a product are called __________? Select one: a. Innovators b. Early Adopters c. Early majority d. Laggards e. Suckers

a. Innovators

One common strategy to extend the life of a product in the maturity stage of the product life cycle is to ____________? Select one: a. Introduce incremental innovations b. Harvest the product c. Skim the product. d. Divest the product. e. Stop advertising the product.

a. Introduce incremental innovations

The two basic sources of motivation for the consumer buying process are? Select one: a. Physiological, Psychological b. Needs, wants c. Drives, Influences d. Products, services e. Consumers, businesses

a. Physiological, Psychological

Carlina operates an oil refinery in Houston Texas. She gets her crude oil from the largest oilfield in Texas. Because the product is more or less fluid and because she knows exactly where the raw material is coming from and where it has to go, Carlina uses _________ transportation for this part of her business? Select one: a. Pipeline b. Air c. Water d. Rail e. Truck

a. Pipeline

Sanjeev was opening a new shrimp farm in Louisiana. Shrimp is the number one selling seafood in the United States and he felt that growing demand would allow a new business to succeed. In order to convince the buyer at Winn Dixie grocery stores to carry his product, he ran coupons in the local newspaper where Winn Dixie had stores offering customers a free 16 ounce bag of frozen shrimp. These customers would bring the coupon into the store and ask for the product. Sanjeev was using a _______ promotion strategy? Select one: a. Pull b. Product c. Ineffective d. Push e. Direct mail

a. Pull

Which of the following would be considered a higher-level need according to Maslow's hierarchy of needs? Select one: a. Self Actualization b. Safety c. Physiological d. Food and water. e. Shelter.

a. Self Actualization

Which of the following research techniques is most likely to be used in descriptive research? Select one: a. Survey questionnaire b. Observation study c. Ethnography d. One-on-one depth interviews e. Focus group

a. Survey questionnaire

If I were scanning the _____________ environment, I would be interested in the trend where businesses are experimenting with self-driving cars? Select one: a. Technological b. Competitive c. Natural d. Political/legal e. Socio-cultural

a. Technological

Tracy is thinking of marketing a new energy drink. Her key selling proposition will be that her product tastes just as good at room temperature as it does when it is ice cold. She plans on testing whether or not students will like her new energy drink by showing pictures of her drink and the other leading brands to students outside the student union. If the majority of students prefer the picture of her product, she will go ahead with the product launch. Tracy may have a problem with the ___________ of her measurement in this market research project. Select one: a. Validity b. Information c. Probability d. Reliability e. Generalizability

a. Validity

BruceCo is planning on selling backpacks for $100 each. The company can buy the backpacks for $30.00 and have them customized for $20.00 apiece. There is a one-time set up charge of $1,000 for customization. In order for the project to go forward, the company needs to show a $10,000 profit. How many backpacks will BruceCo have to sell in order for this project to be acceptable? Select one: a. cannot be determined with this information b. 220 c. 367 d. 110 e. 157

b. 220

Which promotional role might be most appropriate for a product in the introductory stage of the product life cycle? Select one: a. Remind b. Inform c. Persuade d. Positioning e. Build Relationships

b. Inform

A/B testing is a process used for ______________ in digital marketing? Select one: a. Digitization b. Optimization c. Discrimination d. Certification e. Education

b. Optimization

Which of the following is NOT a typical application of data mining as discussed in class? Select one: a. Market basket analysis. b. Product abandonment c. Customer abandonment d. Customer retention e. Customer acquisition

b. Product abandonment

_______________ refers to an approach to merchandising where a retailer may carry products unrelated to its primary lines of merchandise in order to meet the needs of its target market? Select one: a. Strategic merchandising b. Scrambled merchandising c. General merchandising d. Category killing e. Disintermediated merchandising

b. Scrambled merchandising

Which of the following people would most likely be a potential customer for a Ferrari luxury car? Select one: a. A teenage boy who is a huge Ferrari fan, reads everything he can about Ferrari and dreams about owning a Ferrari while working his minimum wage job after school to save up for his drivers license. b. An environmental activist who has pledged never to drive an internal combustion automobile. c. A millionaire who already owns a Ferrari. d. Your Marketing Instructor who has three kids in college and is trying to pay off his own student loans? e. A millionaire who doesn't care for luxury cars.

c. A millionaire who already owns a Ferrari.

Which of the following is an inside sales job? Select one: a. The teller who cashes your check for you at Bank of America b. The salesman who helps you to select a television at Best Buy c. All of these are inside sales jobs d. The counter person who asks if you would like fries with that at McDonalds e. The person who sits at the information desk at Borders bookstore

c. All of these are inside sales jobs

The Foreign Corrupt Practices act of 1977 makes it illegal for U.S. businesses to __________ foreign government officials, even if it is the custom do to so that country? Select one: a. Withhold payment from b. Threaten c. Bribe d. Do business with e. Spy on Feedback

c. Bribe

When dealing with logistics there is a fundamental trade-off between ________ and ________. The goal is to keep one high and the other low, but they tend to increase together. Select one: a. Cost, efficiency b. Profit, revenue c. Cost, service level d. Upstream, downstream. e. Service, responsiveness

c. Cost, Service Level

The __________ environment deals with issues that are beyond your company's ability to control directly? Select one: a. Macro- b. Internal c. External d. Natural e. Micro-

c. External

What is the point you instructor was trying to make when discussing the law of "truly large" numbers Select one: a. No matter how large the group, people are individuals. b. That it is easier to become wealthy by making a small amount of profit on a large number of transactions than by making a large amount of money on a small number of transactions. c. That if you have a large enough group of people there will probably be subgroups who are similar to each other at least in the way they perceive your product. d. That no two people are exactly alike. e. That in order to be successful, your product needs to appeal to everybody.

c. That if you have a large enough group of people there will probably be subgroups who are similar to each other at least in the way they perceive your product

The augmented product in the levels of the product concept refers to: Select one: a. The core benefit disguised by fancy packaging because the customer may not be aware of what the core benefit really is. b. The core feature set as determined by the manufacturer. c. The actual product along with other features such as a service guarantee and cool packaging that enhance the value of the core benefit delivered to the customer. d. The intangible attributes that along with the tangible attributes deliver the core benefit to the consumer.

c. The actual product along with other features such as a service guarantee and cool packaging that enhance the value of the core benefit delivered to the customer

The Bay Area Regional Transit Authority (BART) operates a light rail system in the San Francisco Bay area. Passengers purchase a ticket with a magnetic strip that keeps track of how much money is on the ticket. The cost for a ride is anywhere from about $4 to about $15 depending on how far you are going. You can go to any of the downtown stops for the same price. BART is using ___________ geographic pricing? Select one: a. FOB factory b. Uniform delivered price c. Zone delivered price d. Freight absorption e. Promotional allowance.

c. Zone delivered price

One of the problems in acting ethically in international business is that __________ and _________, the basis of what is right and wrong, can vary from country to country? Select one: a. Language, currency b. Human nature, gender c. Ethnicity, language d. Culture, religion e. Laws, courts

d. Culture, Religion

Shamiya is the marketing manager for a leading mattress manufacturer. She is in the process of developing a market segmentation scheme for her company. Because delivery costs are very high for mattresses, she is likely to consider ______________ along with other variables as she develops her plan? Select one: a. Lifestyle. b. Usage rates c. Cultural differences d. Geography e. Psychographics

d. Geography

_________ affects the amount of time and effort a buyer invests in the consumer buying process. Select one: a. Market potential b. Decision making c. Cognitive Dissonance d. Involvement e. The legal/political environment

d. Involvement

What do we mean when we speak of a "defensible" decision? Select one: a. A decision that ends up being a "good" decision b. There is a written record of the decision and who is responsible for it. c. These are all what we mean when we speak of "defensible" decisions. d. It was the best alternative given the information available at the time. e. A decision taken in response to a competitor's action.

d. It was the best alternative given the information available at the time.

Chez Bruce is the fanciest restaurant in the city. If you want to make a reservation, you have to make it before 5:00 pm or after 10:00 pm. There is so much demand for seats at the restaurant that you have to wait in line during peak hours. Bruce is using this strategy to deal with the __________ characteristic of service provision. Select one: a. Inseparability b. Variability (Inconsistency) c. Invisibility d. Perishability e. Intangibility

d. Perishability

One of the challenges we face in managing services is that both the customer and the service provider work together to create the service. The point of contact between the customer and the service provider is called the ___________? Select one: a. Commercial interface b. Moment of truth c. Service Zone d. Service encounter e. Introduction

d. Service encounter

There are many factors that influence the evolution of retail concepts. Certainly in the past few years, ____________, especially the widespread diffusion of the Internet has had a huge impact on the retail landscape? Select one: a. Localization b. Demographics c. New product development d. Technology e. Globalization

d. Technology

Santa Claus is trying to estimate demand for toys this Christmas. He know there will be 3.7 billion children because he monitors birth trends across the world. He knows from experience that 14% will be naughty this year and get coal rather than presents for Christmas. He recently commissioned a research study from Donner + Blitzen associates who found that children stop believing in Santa Clause when they are 5.8 years old. Santa is likely to use the ____________ method to forecast demand for toys? Select one: a. Survey of buyer intentions b. Market Factor Analysis c. Sales force survey d. Market testing e. Chain ratio

e. Chain Ratio

With social media marketing, the goal is to...? Select one: a. Get people to spend more time with their families b. Get people to pay for access to premium content c. All of these are goals of social media marketing. d. Get people to register with their name and e-mail address e. Get people to share content with other members of their network

e. Get people to share content with other members of their network

When using the ______________ approach to selling, the salesperson will encourage the customer to make a decision quickly, so that the customer doesn't have a lot of time to think things over or to change his or her mind? Select one: a. Need-satisfaction b. Psychological c. Consultative d. Shotgun e. High-pressure

e. High-pressure

Tami owned the Subway franchise in Centennial Village at San Francisco state University. She heard that another franchisee had been granted permission to open a Subway in the student union. She immediately complained to whoever would listen to her that the new store would take away most of her business. This is an example of? Select one: a. Vertical conflict. b. A price war c. Disenfranchisement d. Vertical integration e. Horizontal conflict

e. Horizontal Conflict

BruceCo planned to introduce a new line of herbal coffees in its coffee shops. Using the chain ratio method, they estimated they would have 300 people walk through the door every day and that 1/3 of these people would notice a sign advertising the new coffee and ask about it. If the price were the same as its regular coffee, they estimated half of the people would try the new blend. If the price were higher than the regular coffee, they estimated only one out of 10 would request the new blend. The goal was to sell 50 cups of the new blend each day. Which of the following would be an outcome measure associated with the plan? Select one: a. The number of people who walked through the store each day b. The number of people who ask about the new blend of coffee c. The price of the new blend of coffee d. All of these are outcome measures for this plan. e. The number of cups of the new blend sold each day.

e. The number of cups of the new blend sold each day

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers at her warehouse. She then puts cases of each brand of candy in her delivery trucks so that her drivers can visit her retail customers and resupply their candy racks. Kendra is adding value by ___________? Select one: a. Grading. b. Breaking bulk c. Creating confusion. d. Storing e. Transporting

e. Transporting

Santa Claus is trying to forecast demand for coal this Christmas. For the past 300 years, the number of naughty children (who will get coal in their stockings) has increased by 3% each year. This year should be no different than the last 300 years. Santa is likely to use the ____________ method to forecast demand. Select one: a. Sales force survey b. Chain ratio c. Lost elf method d. Market Factor Analysis e. Trend analysis

e. Trend analysis

Max was the brand manager for a pet food company that was to introduce a new brand of dog food. Through research, they had discovered that many dogs do not get enough exercise and this new dog food had stimulants added to give these sedate dogs energy. He thought of the brand name "Playful Puppy" and asked your opinion. You said? Select one: a. It is a good brand name because it suggests a product benefit. b. It is a good brand name because it is simple and easy to pronounce. c. It is not a good brand name because it isn't clear that it is about dog food. d. It is a good brand name because it is memorable. e. You said all of these things, and meant them.

e. You said all of these things, and meant them