MK 201 Final
A new product may fail for many reasons. Which of the following is NOT one of them? A. Rapid market acceptance B. Poor product design C. Poor product positioning D. Overestimated market size E. Poor marketing research
A
According to the text, what is one of the biggest advantages of social media? A. Engagement and social sharing capabilities B. Interactivity C. Targeted and personal application D. Cost-effectiveness E. Immediacy and timeliness
A
Which advertising objective is best suited to maintaining customer relationships and for more mature products? A. Reminder B. Attack C. Humorous D. Persuasive E. Informative
A
A discount store (for example, Target, Kohl's, or Walmart) sells standard merchandise at lower prices. To do this, discount stores accept which of the following two conditions? A. Higher margins and lower sales volume B. Lower margins and higher sales volume C. Operating at a loss and higher sales volume D. Lower margins and lower sales volume E. Higher sales volume and inefficient operations
B
A purse company's ads feature the members of a popular housewives reality show. Product sales increase significantly among fans. From fans' viewpoint, the housewives reality show is a ______________. A. membership group B. reference group C. late-majority adopter D. lagging adopter E. family group
B
After the presentation and demonstration step in the sales process, a salesperson should next be prepared to _______. A. approach qualified customers B. handle objections C. follow up with the customer D. immediately close the sale E. prospect the customer
B
All products have a life cycle. The sales of a typical product follow __________________, which is made up of five stages. A. an inverted V-shaped curve B. an S-shaped curve C. a V-shaped curve D. a spiral curve E. a bell-shaped curve
B
Amazon is now promising same-day pick-up of goods as well as local secure pick-up points. What point of differentiation is this? A. Image differentiation B. Services differentiation C. Product differentiation D. People differentiation E. Channel differentiation
B
Consumers go through a distinct process in making a purchase. Of the following, which is the final step in that process? A. Recognizing a need B. Post-purchase behavior C. Evaluation of alternatives D. Gathering information E. Making a purchase
B
Which of the following statements about personal selling is correct? A. Personal selling is a fairly new profession. B. Many customers are unable to distinguish the salesperson from the company. C. The role of personal selling is very consistent from company to company. D. Salespeople sell; they do not have a role in creating value for the customer. E. The sales force should work separately from other marketing functions.
B
Which of the following statements is correct regarding marketing communications today? A. Most marketers do not use integrated marketing communications tools or planning. B. Advertisers are now able to engage smaller customer segments with more personalized, interactive content. C. Advertisers are adopting less fragmented media and promotion mixes to reach their diverse markets. D. Marketers are reversing a trend toward digital media. E. Digital and social media have given birth to a more targeted, more social, but less engaging marketing communications.
B
Which of the following statements regarding marketing logistics is NOT TRUE? A. It focuses on managing value-added flows between suppliers, the company, resellers, and final users. B. Companies are placing less emphasis on logistics and more on constraining costs. C. It involves the entire supply chain management. D. Logistics involve inbound logistics, outbound logistics, and reverse logistics. E. No logistics system can both maximize customer service and minimize distribution costs.
B
Which type of retailer typically carries deep product assortments of narrow product lines? A. discount stores B. specialty stores C. warehouse clubs D. self-service retailers E. factory outlets
B
____ are off-price retailers that operate in huge facilities offering few frills but ultra-low prices and surprise deals on selected branded merchandise. A. Convenience stores B. Warehouse clubs C. Department stores D. Superstores E. Specialty stores
B
________ is the digital version of word-of-mouth marketing and the type of marketing in which marketers usually have little control over where messages end up. A. Mobile marketing B. Viral marketing C. Social media marketing D. Interactive marketing E. Video marketing
B
At which step does a company perform a review of the sales, costs, and profit projections for a new product to determine whether the new product is likely to satisfy objectives? A. Idea screening B. Product concept development C. Business analysis D. Commercialization E. Marketing strategy development
C
Criticism has been leveled at marketing for negative impact on other businesses. Of the following, which does NOT fall within those criticisms? A. Harming competitors through acquisitions B. Unfair competitive marketing practices C. Creating false wants and too much materialism D. Practices that create barriers to entry E. Reducing competition through acquisitions
C
Which of the following statements about sales promotions is correct? A. Companies that use sales promotions usually do not use any other promotional mix tools. B. Sales promotions offer long-term incentives to buy a product. C. The heavy use of sales promotions has resulted in promotion clutter. D. The use of sales promotions has declined in recent years. E. Sales promotions are only offered to consumers.
C
Which of the following uses promotional tools such as presentations, trade shows, and incentive programs to engage customers, make sales, and build customer relationships? A. Sales promotion B. Direct and digital marketing C. Personal selling D. Public relations E. Advertising
C
________ are the objectives of trade promotions. A. Generating business leads, stimulating purchases, rewarding customers, and motivating salespeople B. Boosting consumer brand involvement and short-term buying C. Getting retailers to carry new items and more inventory, buy ahead, or promote the company's products and give them more shelf space D. Urging short-term customer buying and gaining customer loyalty E. Getting more sales force support for current or new products and getting salespeople to sign up new accounts
C
At which stage in the selling process does a salesperson attempt to learn as much as possible about the organization (what it needs, who is involved in the buying) and its buyers (their characteristics and buying styles)? A. Approach B. Presentation and demonstration C. Prospecting and qualifying D. Preapproach E. Handling objections
D
A blog is a(n) ______. A. text- and image-based ad and link that appears atop or alongside search engine results B. mobile app C. type of targeted e-mail D. type of online advertising E. online forum
E
A manufacturer of half-ton pickup trucks creates a positioning map for the U.S. half-ton pickup market. The position of each circle on the map indicates the brand's perceived positioning on two dimensions: price and orientation (economy versus performance). The size of each circle indicates the brand's relative market share. This is an example of a ________________. A. target segment map B. competitively positioned map C. psychographic map D. competitive map E. perceptual positioning map
E
Which of the following is a reason that producers use marketing channels and channel intermediaries? A. Using marketing channels allows producers to retain control over how and to whom they sell their products. B. Using channel intermediaries increases the number of contacts with customers. C. The reduced costs of using channel intermediaries offset the inefficiencies of marketing channels. D. Marketing channel decisions only require a short-term commitment. E. Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.
E
Which of the following is an example of horizontal channel conflict? A. A retailer complaining about receiving damaged goods from a wholesaler B. A consumer complaining to a retailer about the service they received C. A consumer complaining to a producer about the quality of a product D. A retailer complaining about a producer's pricing E. A Ford dealer complaining that another Ford dealer is advertising in its territory
E
Which of the following is considered part of an augmented product rather than that of an actual product or core customer value? A. Brand name B. Product features C. Packaging D. Design E. Warranty
E
____ segments are those segments that are conceptually distinguishable and respond differently to different marketing mix elements and programs. A. Measurable B. Substantial C. Actionable D. Accessible E. Differentiable
E
Forms of digital direct marketing include ______. A. online marketing, social media marketing, and mobile marketing B. telemarketing, direct-mail marketing, and catalog marketing C. telemarketing, face-to-face selling, and kiosk marketing D. kiosk marketing, telemarketing, and direct-response TV marketing E. direct-response TV marketing, telemarketing, and direct-mail marketing
A
Macy's, Kohl's, and JCPenney practice a retailing pricing strategy called "high-low pricing." Which of the following correctly describes high-low pricing? A. The retailer charges higher prices on an everyday basis, coupled with frequent sales and other price promotions. B. Retailers charge an everyday low price with no special promotions. C. Retailers do not have to use promotions. D. Some products are priced high, others are priced low, and still others are priced at bargain-basement levels. E. The retailer does not have to run sales on selected items.
A
Performance Inc. sells its newest athletic shoe styles to The Sneaker Store and distributes dated or slightly defective merchandise through Sports Discounters. Performance Inc.'s main competitor is Topnotch Manufacturers. Performance Inc. also markets its products through the company website. They decide to offer a short-term online promotion to encourage consumers to buy their newest athletic shoes, promoting a 20 percent discount off current retail prices. In such a distribution channel, which of the following would be considered a vertical conflict? A. a conflict between Performance Inc. and The Sneaker Store B. a conflict among Performance Inc., The Sneaker Store, and Sports Discounters C. a conflict between Performance Inc. and Topnotch Manufacturers D. a conflict between Performance Inc. and Sports Discounters E. a conflict between The Sneaker Store and Sports Discounters
A
The American Marketing Association has developed a code of ethics for marketers based on three ethical norms. What are these norms? A. Do no harm, foster trust in the marketing system, and embrace ethical values B. Embrace ethical values, enact ethical values, and communicate ethical values C. Do no harm, do not engage in illegal activities, and do not take advantage of consumers D. Do no harm, price products fairly, and foster honesty in advertising E. Foster trust in the marketing system, foster trust in consumers, and foster trust in government regulation
A
What are the eight steps in the business buying decision process, in the correct sequence? A. Problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and performance review B. Performance review, problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, and order-routine specification C. Problem recognition, general need description, product specification, supplier search, supplier selection, proposal solicitation, order-routine specification, and performance review D. General need description, problem recognition, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and performance review E. Problem recognition, general need description, product specification, supplier selection, supplier search, proposal solicitation, order-routine specification, and performance review
A
Which of the following correctly describes the classifications into which products and services fall? A. Consumer products and industrial products B. Consumer products and business products C. Wholesale products and retail products D. Technology products and non-technology products E. Luxury products and non-luxury products
A
____ products have low immediate appeal but might benefit consumers in the long run—for instance, bicycle helmets or some insurance products. A. Salutary B. Deficient C. Pleasing D. Marketing E. Desirable
A
Attracting and holding customers presents great challenges and decision points for retailers. Of the following, which is NOT one of the areas in which they face major decisions? A. Decisions regarding segmentation B. Social media and visibility decisions C. Retail marketing mix decisions D. Store differentiation and positioning decisions E. Decisions about targeting
B
Consumer products are products and services bought by final consumers for personal consumption. Consumer product classifications include _______________, and unsought products. A. convenience, shopping, optional B. convenience, shopping, specialty C. convenience, shopping, seasonal D. shopping, specialty, sought products E. luxury, specialty
B
To avoid being intrusive and annoying, most legitimate e-mail marketers practice ______, which means sending e-mail pitches only to customers who "opt in." A. spamming B. permission-based marketing messages C. unsolicited e-mail marketing D. phishing E. viral marketing
B
When Dr. Lawncare developed his revolutionary new weed killer, he expected that, during the introductory stage of the product life cycle, ___________. A. profits would rise quickly and there would be rapid market acceptance of his product B. sales would be slow and with negative or low profits C. sales would be low but profits would be high D. sales would fall and profits would drop E. sales would be slow and profits would level off or decline
B
Which of the following environments demonstrates a changing age structure, shifting family profiles, geographic population shifts, a better-educated and more white-collar population, and increasing diversity? A. The socio-cultural environment B. The demographic environment C. The economic environment D. The technological environment E. The political environment
B
A company's value chain is only as strong as its weakest link. What should a company do to properly gauge the strength of its links and continually improve? A. Determine the company's proper marketing mix and the team's ability to execute on it B. Examine the various elements of the BCG growth-share matrix. C. Examine how well each group performs its work of adding customer value. D. Perform a business and product competitive analysis. E. Perform micro-environmental and macro-environmental analyses
C
Chicago's Best Pizzeria has been operating on the north side of Chicago for more than 30 years. Its target market includes young urban professionals who want new-style organic pizzas with exotic ingredients. However, in recent years, the population in the pizzeria's neighborhood has been shifting, and now fewer young urban professionals live there. The population has grown older and wants traditional pizza, not pizza with exotic ingredients. Which of the following identifies the pizzeria's BEST response to this situation? A. Run an ad campaign on the health benefits of pizza. B. Sell a different food product, such as hamburgers or sushi. C. Target a new market with a different product. D. Be proactive and convince customers that "exotic is better." E. Cut the prices on its pizza.
C
How do market demands relate to needs and wants? A. Needs, wants, and demands all describe the same state in the customer. B. Wants and demands are equivalent, and both satisfy needs at the same rate. C. Needs are satisfied by wants, and buying power converts wants into demand. D. Demands result in customers needing and wanting a particular product. E. Needs and wants outweigh demands in the customer's mind.
C
In a(n) ________ marketing system, leadership over production and distribution is assumed through the size and power of one or a few dominant channel members. A. contractual VMS B. horizontal C. administered VMS D. corporate vertical E. direct
C
Many vital and key functions are performed by marketing channels. Of the following, which is NOT one of those key functions? A. Fulfillment of completed transactions B. Completion of transactions C. Manufacturing and assembly D. Distribution of persuasive communications E. Physical distribution
C
New digital and social media have given birth to a _________________________. A. more targeted, social, and less engaging marketing communications model B. more targeted, social, and engaging marketing model C. more targeted, social, and engaging marketing communications model D. less targeted and engaging communications model E. less targeted, social, and engaging marketing communications model
C
The real value of marketing information rests in the _____________________. A. social media data it uses B. amount of big data it analyzes C. customer insights it provides D. marketing intelligence it uncovers E. support of a company's marketing research
C
There are too many different kinds of consumers with too many different kinds of needs. So, companies must design strategies for profitably serving chosen segments. The design of the strategies begins with four key elements, which are ________, _______, ________, and ___________. A. market segmentation, market targeting, micro-targeting, and differentiation B. market targeting, differentiation, promotional strategies, and positioning C. market segmentation, market targeting, differentiation, and positioning D. marketing planning, market segmentation, differentiation, and positioning E. market segmentation, differentiation, selling strategies, and positioning
C
The ________________________ is a brand's full positioning or the full mix of benefits on which the brand is positioned. A. target marketing strategy B. differentiation strategy C. value proposition D. positioning map E. brand's personality and voice
C
Which contractual system is distinguished by the fact that it is normally based on some unique product or service; method of doing business; or trade name, goodwill, or patent that has been developed? A. corporate chain B. warehouse club C. franchise D. retailer cooperative E. voluntary chain
C
Which of the following is NOT a primary goal of competitive marketing intelligence? A. Improving strategic decision making B. Providing early warnings of threats C. Creating an understanding of the business-to-business environment D. Assessing and tracking competitors' actions, E. Providing early warnings of opportunities
C
Which of the following is a benefit of direct and digital marketing for buyers? A. A speedy alternative to other mediums B. Efficiency and prices C. Sense of brand engagement and community D. Ease of use and ability to obtain lower prices E. Convenience and ease
C
Which of the following is a type of marketing that calls for meeting the present needs of consumers and businesses while preserving or enhancing the ability of future generations to meet their needs? A. Cause marketing B. Global marketing C. Sustainable marketing D. Societal marketing E. Strategic planning
C
In which of the following does a producer direct marketing activities (primarily personal selling and trade promotion) toward channel members? A. A pull strategy B. A personal selling strategy C. Integrated communications D. A push strategy E. Product communications
D
Online advertising has become a major promotional medium. The main forms of online advertising are _____________________. A. e-mail marketing and search-related ads B. blogs and display ads C. online video and display ads D. display ads and search-related ads E. online promotions and search-related ads
D
Personal selling involves a multiple-step process. The first step is ______________ and the last step is _______________________. A. approach; follow-up B. approach; closing C. preapproach; handling objections D. prospecting and qualifying; follow-up E. presentation and demonstration; closing
D
The major steps in advertising media selection are (1) __________; (2) choosing among major media types; (3) selecting specific media vehicles; and (4) choosing media timing. A. determining the execution style B. setting the advertising objectives C. calculating advertising return on investment D. determining reach, frequency, impact, and engagement E. determining the advertising budget
D
The number of product lines a company manages is the product mix ______. The total number of items a company carries within its product line is the product mix _____. A. width; depth B. length; width C. consistency; depth D. width; length E. depth; length
D
Which form of direct and digital marketing do companies use to engage customers anywhere, anytime during the buying and relationship-building processes? A. Online marketing B. Social media marketing C. E-mail D. Mobile marketing E. Websites
D
Which of the following BEST describes research relationships? A. Observation is best suited for exploratory research, surveys for causal research, and experiments for descriptive research. B. Observation is best suited for descriptive research, surveys for exploratory research, and experiments for causal research. C. Observation is best suited for causal research, surveys for exploratory research, and experiments for descriptive research. D. Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research. E. Observation is best suited for descriptive research, surveys for causal research, and experiments for exploratory research.
D
Which of the following correctly describes customer purchases, sales force contacts, service and support calls, web and social media site visits, satisfaction surveys, credit and payment interactions, and market research studies? A. Sales calls B. Service calls C. Purchases D. Touch points E. Satisfaction surveys
D
Which of the following identifies the six major sales force management steps in the correct order? A. Recruiting and selecting salespeople, training salespeople, designing sales force strategy and structure, evaluating salespeople, compensating salespeople, and supervising and motivating salespeople B. Evaluating salespeople, designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, compensating salespeople, and supervising and motivating salespeople C. Designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, evaluating salespeople, compensating salespeople, and supervising and motivating salespeople D. Designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, compensating salespeople, supervising and motivating salespeople, and evaluating salespeople E. Designing sales force strategy and structure, recruiting and selecting salespeople, training salespeople, supervising and motivating salespeople, evaluating salespeople, and compensating salespeople
D
Which of the following statements about blogs is correct? A. Blogs are a company-controlled medium. B. For consumers, they are impersonal. C. They are expensive to start and maintain. D. Blogs can be difficult for the company to control. E. Companies cannot gain insights from their blogs.
D
Which of the following would make a segment less attractive to enter? A. Very few substitute products B. Suppliers with weak bargaining power C. A lack of aggressive competitors D. New entrants finding it easy to enter the segment E. Buyers with weak bargaining power
D
_______ is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. A. Customer satisfaction B. Customer engagement C. Customer growth D. Customer relationship management E. Customer acquisition
D
________ are promotional tools that can be used to attract consumers. A. rebates, coupons, samples, and push money B. coupons, sales contests, samples, and price packs C. coupons, rebates, off-list discounts, and price packs D. rebates, coupons, price packs, and samples E. trade shows, coupons, samples, and push money
D
_________ are the five guiding principles of sustainable marketing. A. Consumer-oriented marketing, customer value marketing, sense-of-mission marketing, profitable marketing, and ethical marketing B. Consumer-oriented marketing, customer value marketing, green marketing, ethical marketing, and societal marketing C. Sustainable marketing, green marketing, societal marketing, ethical marketing, and profitable marketing D. Consumer-oriented marketing, customer value marketing, innovative marketing, sense-of-mission marketing, and societal marketing E. Consumer-oriented marketing, profitable marketing, innovative marketing, green marketing, and societal marketing
D
Direct marketing is ________, allowing buyers to create exactly the configuration of information, products, or services buyers desire and then order them on the spot. A. immediate B. interactive C. immediate and convenient D. immediate and easy to use E. immediate and interactive
E
Goldtone is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Goldtone is using ________ to generate new product ideas. A. marketing strategy development B. test marketing C. business analysis D. concept development E. crowdsourcing
E
Most standard portfolio analysis methods evaluate strategic business units (SBUs) on their performance in two important dimensions. What are these two dimensions? A. The number of SBUs the company identifies and the number of products it produces B. The attractiveness of the SBU's market or industry and the number of products the company produces C. The type of market or industry in which the company competes and the strength of the SBU's position in that market or industry D. The number of products a company produces and the number of foreign countries in which the company competes E. The attractiveness of the SBU's market or industry and the strength of the SBU's position in that market or industry
E
The four elements of a compensation plan for salespeople are __________. A. A fixed amount, a variable amount, salary, and commission B. A fixed amount, a variable amount, expenses, and salary C. A fixed amount, a variable amount, stock ownership, and fringe benefits D. A fixed amount, a variable amount, expenses, and commission E. A fixed amount, a variable amount, expenses, and fringe benefits
E
The four major functions of marketing logistics are __________________________. A. warehousing, inventory management, transportation, and retailing B. warehousing, inventory management, shipping, and receiving C. warehousing, transportation, wholesaling, and retailing D. forecasting, order processing, transportation, and inventory management E. warehousing, inventory management, transportation, and logistics information management
E
The second critical phase in developing a marketing information system (MIS) is developing information. The information is developed from ________, __________, and ____________. A. internal databases, customer analytics, and marketing intelligence activities B. internal databases, business analytics, and marketing research C. internal databases, marketing intelligence activities, and secondary research D. internal databases, marketing intelligence activities, and shopper research E. internal databases, marketing intelligence activities, and marketing research
E
The product/market expansion grid is a tool that allows marketers to identify growth opportunities. Of the following, which represent the four components of the product/market expansion grid? A. Product development, diversification, domestic expansion, and global expansion B. Product growth, market growth, customer growth, and profitable growth C. Global expansion, domestic expansion, customer expansion, and product expansion D. Product penetration, product development, diversification, and global expansion E. Market penetration, market development, product development, and diversification
E
Which of the following describes the process of dividing markets into groups based on consumers' knowledge, attitudes, uses, or responses? A. Economic segmentation B. Demographic segmentation C. Psychographic segmentation D. Geographic segmentation E. Behavioral segmentation
E
Which of the following identifies a change in the technological environment that could affect the success of a business? A. A company packages its product to be twice the size of its predecessor. B. A company develops a new warranty that lasts as long as its predecessor. C. A company develops a customer support program that customers rate twice as responsive as the previous program. D. A company develops a new battery that costs twice as much as its predecessor. E. A company develops a new battery that lasts twice as long as its predecessor.
E
Which of the following is NOT a social factor influencing consumer buying behavior? A. Reference groups B. Word of mouth C. Online social networks D. Opinion leaders E. Cognitive dissonance
E
Which of the following scenarios BEST describes the societal marketing concept? A. Tim's Tires constantly tries to improve on the tires it sells by placing all of its efforts into new design research. B. Robert's Rotors does everything to improve production and lower the cost of its rotors in order to gain customers. C. Wanda's Wedding Wear frequently promotes itself to customers through commercials, fliers, and other forms of advertising. D. Amy's Apple Cart regularly asks its customers what kind of apples they want to buy. E. Edward's Earthware attempts to make its pottery in a way that satisfies customers but is also environmentally friendly and sustainable over the long term.
E
_______ direct(s) its marketing activities (primarily advertising, consumer promotion, and direct and digital media) toward final consumers to induce them to buy the product. A. A push strategy B. Product communications C. Personal selling D. Integrated communications E. A pull strategy
E
________ is the service characteristic to which marketers need to pay close attention when there are fluctuations in demand. A. Tangibility B. Intangibility C. Variability D. Inseparability E. Perishability
E
It's time for the Super Bowl, and the end-of-the-aisle displays at the supermarket feature chips, dips, and soft drinks. What type of sales promotion tool is this? A. Sample B. Sponsorship C. Allowance D. Premium E. Point-of-purchase
E
