Marketing Final Exam
Sam, the marketing manager at Regal Inc., is in the process of price setting. He has finished defining the pricing objectives. What should he do next?
(A) Evaluate demand
Which of the following is true of building a brand image for a nonprofit organization?
(A) It needs to be reflective of the work that the organization does
Which of the following is true of using logistics?
(A) Logistics managers must be made aware of increase in expected sales to handle increase in demand
(Divided)v Health is a company that produces medical equipment for personal use. It sells these products through retail stores and pharmacies under the brand name Genesis. Genesis is an example of a _____
(A) Manufacturer brand
In order for segmentation to be effective, the size and purchasing power of segment should be clearly identified. This means that market segments should be
(A) Measurable
Fun Land, an amusement park, gives a 15 percent discount to children under 15 years and the elderly over 75 years. The park also charges an additional $50 to allow pets. Which pricing strategy is Fun Land applying?
(A) Price discrimination
One of the disadvantages of push strategy is that a company might:
(A) Produce much more of product than what customers want.
An established computer manufacturing company runs a Donate-A-Computer foundation for the underprivileged. The foundation collects old PCs from individual users, services them, and lends them community organizations. The company regularly distributes brochures to inform and educate people about this cause which of the following promotional tools does this signify?
(A) Public relations
What enhanced the marketing value of U.S. brands in the global marketplace durning the 21st century?
(A) The fast rebound of the American economy from the financial crisis of 2007
The Souk is multinational retail corporation with large discount department stores. It keeps its distribution costs low by negotiating bulk discounts from wholesalers. In turn, products at The Souk are relatively inexpensive. Its customers know for sure that they will find the best bargains here, so they prefer to shop there. In this case, The Souk has based its positioning strategy on
(A) The price/quality relationship
Taro Publications sold $80,000 worth of books durning 2013. Its average inventory level at the end of the year was $20,000. What is the inventory turns achieved by Taro in this scenario?
(B) 4
The value that a firm derives from consumers' positive perception of its products is called _____
(B) Brand equity
Which of the following is true of undifferentiated targeting?
(B) It approaches the marketplace as one large segment
Which of the following is true of demographic segmentation?
(B) It divides markets by characteristics such as age, gender, income, education, and family size.
Which of the following is a feature of differentiated targeting?
(B) It is used by firms that market the same product to multiple regions with different preferences.
_____ refers to all the activities of designing and producing the container for a product.
(B) Packaging
Which of the following best defines the amount of something--money, time, or effort--that buyer exchanges with a seller to obtain a product?
(B) Price
____ is the amount a product sells for about the total cost of the product itself
(B) Profit margin
Which of the following is the first step in the personal-selling process?
(B) Prospecting and qualifying
____ Refers to a set of nonpersonal communication tools, such as coupons and rebates, designed to stimulate quicker and more frequent purchases of a product
(B) Sales promotion
Which of the following is true of supply chain management?
(B) When there is not enough inventory to satisfy customer demand, a firm may incur additional cost or lose sales or both
Oxel, a beverage manufacturer with a strong presence on the West Coast, wants to improve its brand visibility across the U.S. It ties up with Roland Horn, a restaurant chain that has a significant presence across the U.S. The strong presence of Oxel on the West Coast brings in the more customers to Roland's restaurants in the region, while Oxel penetrates different markets across the U.S. by leveraging Roland's presence in those markets. Which of the following does this scenario exemplify?
(C) Co-branding
Owing the nature of its pricing strategy, markup pricing is also known as ______ pricing.
(C) Cost-plus
____ are intermediaries, such as wholesalers, distributors, and retailers, through which the flow of products travels
(C) Distribution channels
Which of the following activities comprises the highest percentage of customer engagement when writing product reviews online?
(C) Giving recognition to a job well done
Which of the following is true of persuasive advertising?
(C) It attempts to increase demands for an existing product
In the context of promotion mix budgeting strategies, which of the following is true of the affordable method?
(C) It is fiscally conservative
The process of dividing a larger market into smaller groups based on meaningfully shared characteristics is known as
(C) Market segmentation
Which of the following is the last step in the price-setting process?
(C) Monitoring and evaluating the effectiveness of the price
At Trik Tees, customers can create and print their own designs on T-shirts, mugs, key-chains, and pens. A customer can do this by accessing the Trik Tees website, creating a design, picking a product, and making an online payment. At the back-end, a Trik Tees employee picks up the desired product from the warehouse, gets it printed at the in-house printing facility, and ships it to the customer via Trik Teee's courier partner. Which of the following strategies is Trik Tees using in this scenario?
(C) Push-pull strategy
A company segments its market is part by family size and marital status and develops products that effectively target each group it identifies. This is an example of ______ Segmentation.
(C) demographic
Which of the following is an advantage of using containers in transportation?
(D) Containers can be loaded and unloaded from ships very quickly
For the launch of its CrunchMunch chocolate, Quickers Inc., a confectionery company, used a strategy that included television, radio, outdoor, retail activation, online advertising as well as public relations and social media promotions. It was ensured that the content provided on the various media was consistent. This is an example of ____
(D) Integrated marketing communications
Which of the following statements best describes yield management?
(D) It is a strategy for maximizing revenue even when a firm has a fixed amount of goods, services, or capacity
Which of the following is an advantage of outdoor adversiging
(D) It is one of the most cost-efficient ways to reach potential customers.
Which of the following is an advantage of personal selling?
(D) It results in immediate feedback from the customer
What is the underlying philosophy behind the concept of supply chain management
(D) No company operates in isolation
Platform is an apparels manufacturer with a strong online presence on social media sites. It offers regular special discounts for customers who follow its social media updates what is the potential risk of following such a strategy?
(D) Offering continuous discounts in the long run might dilute Platform's brand value.
Which of the following laws removed the burden of proving that unfair and deceptive practices had to injure competition as well as customers?
(D) The Wheeler-Lea Act
Clark is a sports equipment salesman. He has finished meeting and greeting a prospect, providing an introduction, establishing a rapport that sets a foundation for a relationship, and asking open-ended questions to learn more about the prospect and his needs and wants. According to the personal-selling process, what should be prepare for next year?
(D) The presentations
The act of evaluating each market segment determine which segment or segments present the most attractive opportunity to optimize sales is know as
(D)Targeting
Game is a fashion apparels manufacturer based in Philadelphia that has its distribution center (DC) in Kentucky. Which of the following activities at the DC exemplifies that product allocation function?
(E) An employee boxes a particular number of T-shirts as ordered by a customer in Texas
Pegasus Inc. is a company based in the country of Nutatia. It sells its products in its neighboring country, Provincia, at a lower price than it sells in Nutatia. What is this type of trading called?
(E) Dumping
Aerohead, an airlines company, opens the booking of its seats three months in advance. The first 25 percent seats are discounted by 20 percent, and the prices of the remaining seats are constantly updated depending on the demand. On the day of the flight, Aerohead charges a price marked up by 30 percent. Which pricing strategy is Aerohead applying.
(E) Dynamic pricing
Which of the following best defines repositioning?
(E) It is the act of reestablishing a product's position to respond to changes in the marketplace
Which of the following types of inventories must be sold off at high discounts?
(E) Obsolete inventory
Which of the following is a research method used to uncover the true opinions and feeling of consumers when they are unwilling to express themselves?
(E) Projective technique
Enion Games, a mobile-game developer, wants to understand the penetration of its brand across the U.S. The marketing team at Enion designs a survey that lists a number of brand names and logos. The participants are expected to identify the brands that they recognize. Which of the following best exemplifies the use of a decoy in this survey?
(E) The name of a game that does not exist
Plethora Inc. is a multinational apparel chain that sells its products in many countries. However, it wants to launch its new line of maternal wear within just one affluent region in China. In the context of international market segmentation, this can be defined as
(E) Unique segmentation
Which of the following sales promotion tools are directed exclusively to business-to-business(B2B) firms rather than individual consumers?
(A) Allowances
