MKTG 3310 Auburn FINAL Exam (Gleim) - ex. questions from previous quizzes/tests
Which of the following is an example of a non sales-related behavioral objective?
All of the above
Which approach increases the odds that a company's email messages will be opened?
All of these
What part of a total market offering includes features that might speed the purchasing decision and make the product more attractive?
Augmented product
Which term best fits a systematic approach to collecting information to help managers make decisions?
Decision Support System
Apple segmented the market based on whether customers were millennials; what type of segmentation are they performing?
Demographic
Which term refers to the strategies and tactics of communicating with customers or delivering benefits to customers using technology?
Digital marketing
Unlike variable costs, which vary with the quantity sold, ________ costs don't change based on sales
Fixed
Hector's Tacos is a small food stand on campus. Hector recently has lost a fair number of customers to another food stand that sells similar, but cheaper tacos. Hector is concerned because he was about to launch a line of unique, fresh tacos-ones his clientele has been asking for-that would cost a bit more. Of the following, what is the best advice for Hector?
Hector should define his target market and then provide better tacos than his competitors. His target market will perceive value, thus paying a higher price for Hector's tacos and returning for more
Which of the following is a key idea for understanding marketing?
It involves multiple parties who have something of value to exchange
Which of the following is a main reason to use direct marketing?
It is measurable
Beth is in her late 70s. Recently, a worldwide pandemic has made it impossible for her to get books from her local library or to pay her bills via a teller at her local bank, so she purchases a laptop and Wi-Fi service. Into which diffusion of innovation category does Nancy most likely fall?
Laggard
Facial Tissue brands such as Kleenex are in what stage of the product life cycle?
Maturity
Nike increasingly is focused on using renewable energy to power its facilities, using recycled polyester, reducing its water and chemical usage, and prohibiting its ships from entering the Arctic Ocean. On which of the following macro-environment elements is Nike focused?
Natural/environmental
Why is it hard to link sales to advertising?
Other factors affect sales
Your firm is about to introduce a new product, and it is important to get a commanding share of the market to be able to set the standard. The development team believes it could add features to the product later, if needed. The firm has moved to a product development strategy and this is the first roll-out, so it is important to succeed. What would be the appropriate pricing strategy?
Penetration pricing
Which of the following are tools of personalized promotions?
Personal Selling and Direct Marketing
Which form of promotion allows the company to communicate directly with specific customers?
Personalized
Haruko is studying art at a local university and working as a veterinarian's assistant. To make extra money, she started creating one-of-a-kind sketches of her friends' pets. Now Haruko sells her services at the veterinarian's office and in an online shop. Which of the following best describes Haruko's target market?
Pet lovers
Park sells commercial laundry services. He has a list of several potential customers in his selling area and knows these businesses are open to hiring a new and better cleaning company. Today, he is researching the companies on social media. Which step in the personal selling process is Park currently completing?
Preparation
Sam loves Apple products. In fact, all their electronics are Apple devices and they will never purchase another brand. Which type of customer connection is Sam demonstrating?
Psychological
You work in marketing for a cookware manufacturer. You have recently partnered with a famous chef and are debuting a line of cookware and bakeware. In August, you begin running advertisements in magazines targeted to foodies, cooks, and homemakers. By October, your boss says you that you have not met your sales-related objectives. What is the best way to respond?
Remind the boss of the lagged effect of sales. Suggest that you delay making any changes because you believe sales will improve as people begin to focus on cooking and entertaining for the winter holidays
Which of the following is a way in which companies such as Heinz and Kellogg's might use power to gain entry into stores?
Reward power
Anne's firm is launching a new line of hair-care products which are not expensive, but a certainly higher quality than the less-expensive products dominating the market. What kind of distribution intensity should she select for these new products?
Selective
When a new product is introduced to a market and is priced high with the intention of eventually lowering the price as the market becomes more competitive, marketers are using a pricing strategy known as
Skimming
Which is a sub-group within an organization that designs its own strategy and has its own customers?
Strategic business unit
You are the brand manager for a popular shampoo. Sales are good. Customers are loyal. You are tasked with increasing market share. What is the best personalized promotional strategy for accomplishing your goal?
Use retail technology to identify shampoo users who have purchased other brands. Then create a cents-off coupon that will appear on the backs of mass merchandiser receipts.
What is the term for the costs of a product that change with each good sold?
Variable costs
Branding is most important in the evaluation of alternatives under which circumstance?
When there is little specific information available on which to make a judgment
You are the marketing manager for a fitness center with two locations in a small city. The owners would like to expand into a neighboring area, but want to perform some marketing research beforehand to better understand customers in that current market. You create an online survey covering everything you want to know, which ends up being 20 screens long and takes about 30 minutes to complete. Unfortunately, you are overwhelmed by the information you gather and are unsure how to proceed. What mistake did you make?
You designed the survey to ask for information you wanted, but did not necessarily need for the decision at hand
You are a new homeowner and would like to hire someone to paint the interior of your house. Since you have no personal experience with this type of hire, you begin searching for information. Unfortunately, your family, friends, and coworkers were of no help. Which of the following would be considered your most credible source of information?
Your neighborhood Facebook group
The combination of product, price, place, and promotion defines
a marketing mix
A company must consider what present and future customers might want in an exchange by devloping
a mission statement
Steven has recently been hired as a marketing assistant, and his supervisor tells him to go online and research trends in the marketplace that will affect a new product being launched. Steven is likely working on
a situation analysis
You have downloaded a program onto your smartphone that allows you to check the schedule for your favorite college basketball team, get updated scores, and find the nearest concession stand selling your favorite IPA. This is an example of a mobile _________
app
Maximizing exposure of the advertising message to the target audience while minimizing waste coverage is the definition of:
basic media planning
customers prefer one brand over another based on its value, which, in turn is based on different combinations of
benefits and costs
Transactional salespeople do not worry about this, but an important goal of account managers is to:
build long term relationships
Michael went through a very detailed search process to determine and buy the best computer for both his gaming and schoolwork. Instead of being happy with his new computer, he is wondering if he made the right choice, if he examined enough alternatives and whether he should have purchased a different brand. His friends who were majoring in marketing let him vent, but didn't take his concerns seriously as they knew he was suffering from a natural phenomenon known as
cognitive dissonance
Bud Light calls out Miller Lite by name in a TV commercial airing during the Super Bowl for using corn syrup when making its beer. This type of product advertising is referred to as:
comparative advertising
When Sam's Club or Costco provides shoppers with a sample of products available for sale in the store, this is an example of a:
consumer sales promotion
Companies have the most success with email marketing when they follow which approach?
cultivating opt-in email addresses
What is the best similarity between established and emerging markets
customers demand the product or service
Phone and telemarketing calls are considered:
direct marketing
Maya is setting prices for her home remodeling business. Over the course of the year, there are times of peak activities-such as pre-holidays-and times when consumers were not as interested in home remodeling. This is an issue throughout the industry, so she knows it isn't just her business. After she determines a base price for the service, she could stimulate demand during the slow periods by using:
discounts
Simon is the sales manager for a large resort. He had booked a block of rooms for a destination wedding at a package rate, he was able to charge the full rate for most customers, and he occasionally had to lower the price if he had unsold rooms as the time guests would arrive gets closer. The pricing strategy used was:
dynamic pricing
What is an example of an intermediary for Nike?
facebook selling add space to nike on theri website
One of the keys to direct marketing is:
having a list of customers
Creative advertising can do what for your products or services?
help create buzz
Angela travels often for work. Sometimes she will do an extensive search to find a special restaurant, but when in a hurry she will fall back on a couple favorites she knows she likes without thinking too much about it. These decision "short-cuts" are known as
heuristics
The failure of large hotel chains like Marriot and Hilton to recognize the disruption that would result from the entree of Airbnb into their market is a good example of
marketing myopia
The failure of large hotel chains like Marriott and Hilton to recognize the disruption that would result from the entrée of Airbnb into their market is a good example of
marketing myopia
Vance, a marketing major, was helping his sister develop her retail shop. Her business was not thriving, and Vance quickly determined that trying to please everyone was pleasing no one. Together they worked out an approach where she would identify groups of customers who had similar needs, and then work with each group to meet their needs. This basic process in marketing is called
marketing segmentation
Digital marketing, as opposed to traditional marketing, is significantly distinguished by:
multiple flows of information in multiple directions
Whole Foods sells organic foods to affluent, health-conscious customers in what is often considered a "luxurious" environment. This is an example of
niche marketing
Any selling activity that involves direct interaction between a buyer and seller is:
personal selling
Which type of advertising stimulates primary demand for new products or services?
pioneering
Bob has recently moved to Texas. He really like his morning coffee from Dunkin. He downloaded the app for ordering. Now, Bob sees ads for Dunkin on Google and in social media and decides to follow the brand. This is an example of
polysynchronous consumption
Which of the following consumer sales promotions is defined as a small gift for consumers who make a purchase (e.g. toy in Happy Meal)
premium
What is an advantage of personalized promotion?
reduction of noise
If you go to a fast food restaurant and see truffle fries on the menu for $20 when everything else is $5 or less, you'd think something was not right. Marketers understand you are comparing those posted menu prices to your own
reference price
The federal law requiring government buildings to use door levers rather than circular doorknobs was driven by what part of the macro-environment
regulatory and legal
The most important determinant of a mobile promotion is:
relevance
You were tasked with researching a problem within your company and found the answers you needed in the monthly reports from your sales representatives. Which term best describes your data source?
secondary
You are responsible for marketing movies for a cinema chain. In addition to monitoring what other cinema chains are doing, you need to look at other forms of entertainment that are considered to be
secondary competitors
Leila sees herself as a fashionista, buying clothes she can find in high-fashion magazines, and she is always fashionably dressed for class. Molly dresses for comfort, not for others, and she cant imagine looking at magazines for ideas on what clothes to buy. This is not a surprise to marketers, as marketers have identified this particular individual influence as
self-image
You can observe many different personalities amongst your family, friends, and acquaintances, but as a marketer you want to know what part of personality most affects buying decisions in a group of people. which of the following personality aspects most obviously affects purchase behavior the most?
self-image
The large group of people who share hobbies, education, income levels, and similar views of the world is known as a(n)
social class
___________ prices provide consistency and decrease the price shopping of customers:
static
A celebrity's effectiveness as an endorser depends on:
the celebrity's image fitting the product brand's positioning
Geographic segmentation is
the process of separating customer groups based on location
Goal Post Brewing Company asked their bartenders to talk with customers over the course of a weekend on which beers they'd like to see Goal Post offer in the future, and jot down their notes at the end of their shift. Based on feedback from the bartenders, Goal Post introduced a new, more expensive beer in their taproom a week later. Goal Post's approach to collecting market data was somewhat unique in that:
they were able to utilize the personal interview collection method inexpensively
Tom's Shoes ability to highlight specific benefits that appeal to their target market helps create a strong
value proposition
Your reference price will become more accurate and reflect real prices when:
you have experience related to the product
Brian camped out all night outside Best Buy to get an unbelievably low, advertised price on a big-screen TV. He was the first in line, but when the store opened, he was told there were no more available at that price, but there were some higher-priced TVs. This is an example of an illegal practice known as:
Bait and Switch pricing
An electronics store advertises a flat-screen television for an astonishingly low price in its after-Thanksgiving sale advertisements. Though you are first in line on sale day, you learn that the store never had that model in stock. The salesperson offers to sell you a similar television at a discounted, though higher, price. What term describes your experience?
Bait and switch
Panera Bread collecting data to see if they sell more bagels during Pink Ribbon bagel month or when bagels are offered as an add on for $1 is considered which kind of research?
Causal
When we as customers create and post online reviews of products we like, we are involved in which of the following marketing-related process?
Co-creation of value
Which digital media element represents the most visible and authoritative voice of the company and reflects its core values?
Company website
When you are making a reasonably large purchase, you will probably go online to get some idea of the price. This is an example of which factor that influences a marketer's pricing?
Competition
Nick wanted to be his own boss, so he bought a UPS Store franchise for $250,000. He is confident in his investment because his brand is well recognized, and he and his staff will be well trained. This is an example of which type of vertical marketing system (VMS)?
Contractual VMS
Which form of advertising is designed to build the general reputation of the organization and create goodwill toward the company and its brands?
Corporate image advertising
You are the brand manager for a new cold breakfast cereal and are tasked with creating advertising. Since your cereal appeals mostly to children, but will be purchased by parents, what in the best way to proceed?
Create a cartoon character that appeals to children, who influence purchasing decisions, but create content that details the cereal's nutritional benefits to the parents
Which information on a company's website will best help reassure customers uncertain about making a purchase?
Customer reviews
A company whose goal is to discover insights related to product opportunity ideally uses which type of research?
Exploratory
People sometimes refer to the macro-environment with which of the following terms?
External environment
What must producers consider when creating an image for their store?
If the retailer's image matches the products sold in the store
As the top salesperson for the past quarter, your company rewards you with a five extra vacation days and access to a company condo, for free. What form of compensation have you received?
Incentive
After Erin recognized a need to replace a ruined smartphone, she began trying to recall everything she had heard recently about smartphones and where she could get more information. Erin was at which stage of the General Model of Customer Experience?
Information search
Which element would be categorized in the micro-environment for managers at Ben & Jerry's?
Ingredients
Companies can use which form of advertising to strengthen their brands?
Institutional advertising
Marketers need to consider the marketing effort as a whole when considering marketing through social media. Which of the following concepts or tools from the large marketing effort would be most meaningful in developing the social media strategy?
Integrated marketing communications
What is a major advantage of digital media over traditional media as it relates to increasing levels of consumer demand for immediate and personalized attention?
It creates immediate and interactive connections
As brand manager for a popular ice cream, you offered a "buy one, get one half off" discount. Sales were substantial, but your boss is angry with you. What is the most likely reason?
The company lost money because brand-loyal customers would have bought the ice cream at the base price
Which of the following statements is true regarding direct marketing response devices?
The response options should maximize customer convenience
What is true of most consumer sales promotions?
They are intended to produce quick transactions between buyers and sellers
Offering too many options can lead to which problem for some companies?
They can't specialize, leaving them vulnerable to competition
Given the trend in how consumers access digital, what is true about company websites?
They should be accessible in mobile formats
Which of the following is a good example of a company having a social orientation?
Tom's Shoes ships a free pair of shoes to a child in a third world country for each pair sold in the United States.
Which of the following is calculated by multiplying expected unit sales by unit price?
Total Revenue
Marketers are able to target members of supply chains by engaging in which of the following?
Trade Promotions
