BUSINESS EXAM

1. Decisions about advertising, publicity, and product placement are all part of a firm's:

product strategy in its marketing matrix.

promotion strategy in its marketing mix.

demographic strategy in its marketing matrix.

distribution strategy in its marketing mix.

2. 4 points

Question 2

1. Rapid improvements in digital technology and the rise in Internet usage over the past 20 years have:

shifted the balance of power away from customers and toward producers.

decreased the costs of marketing new products and services.

increased the costs of distributing new products and services.

contributed to a movement away from mass customization and toward demographic marketing exclusively.

2. 4 points

Question 3

1. __________ holds that delivering unmatched value to customers is the only way to achieve long-term profitability for the organization.

The marketing concept

Market segmentation

Consumer behavior

The product strategy

2. 4 points

Question 4

1. Psychographic segmentation is the:

category that includes the benefits that consumers seek from products and how consumers use the product.

vital starting point for most efforts to segment B2B markets but is seldom used in B2C market.

division of the market based on consumer characteristics such as age, ethnicity, and gender.

category used to complement other types of market segmentation in B2C markets.

2. 4 points

Question 5

1. Which of the following scenarios exemplifies green marketing?

Janet sells home-made pickles and jams.

Claire sells solar-powered jackets.

Sam volunteers at a local self-help group.

Christine gives money to a nonprofit organization.

2. 4 points

Question 6

1. __________ is a vital starting point for most marketers.

Psychographics

Analyticals

Demographics

Cultural awareness

2. 4 points

Question 7

1. The relevant concept of value in marketing is based on the:

objective measure of quality exclusively.

customer's belief that a product has a better relationship than its competitors between the cost and the benefits.

ability to buy the product at the lowest possible cost irrespective of the decrease in quality.

form utility of the product.

2. 4 points

Question 8

1. A key to successful customer relationship management is to:

develop marketing strategies that are universal.

collect, manage, and apply the right data at the right time to the right customer.

help customers identify new needs-even if they are met by other firms.

focus most marketing resources on the pricing and distribution functions of the marketing mix.

2. 4 points

Question 9

1. When Suzanne was shopping for school supplies in the mall, she was approached by a woman with a clipboard, asking questions about her preference for jeans. Therefore, Suzanne is part of __________ research.

secondary

unobtrusive

survey

observation

2. 4 points

Question 10

1. The biggest disadvantage of observation research is that it:

tends to be extremely expensive.

yields little or no insight into the motivation behind the observed behavior.

generates secondary data rather than primary data.

focuses on what people say rather than what they actually do.

2. 4 points

Question 11

1. Successful product differentiation requires that the:

difference be real rather than merely perceived.

marketers put most of their efforts into developing an appropriate brand name.

product not only be different from those of competitors but also be better.

products have both higher quality and higher cost than those of the competition.

2. 4 points

Question 12

1. In which of the following stages of a product's life cycle would heavy advertising reinforce the brand positioning strategy?

Growth

Maturity

Decline

Introduction

2. 4 points

Question 13

1. Rick is a salesperson for a local company. He has just finished presenting his sales message to a customer. The immediate next step in the selling process is to:

close the sale by asking for payment.

follow up with additional opportunities.

handle objections.

choose the right prospects.

2. 4 points

Question 14

1. In its broadest sense, __________ refers to an organization's ongoing efforts to create positive relationships with its consumers, employees, suppliers, the community, the general public, and the government.

publicity

advertising

sales promotion

public relations

2. 4 points

Question 15

1. The evolution of cell phones from the modest telephone is an example of __________.

discontinuous innovation

dynamically continuous innovation

continuous innovation

dynamically discontinuous innovation

2. 4 points

Question 16

1. One of the major advantages of publicity is that it:

is often viewed by consumers as more credible than advertising.

gives marketers the maximum possible control over the message.

targets the intended audience more accurately than other promotional tools.

has greater power as compared to other mediums to stimulate an immediate desire to buy the product.

2. 4 points

Question 17

1. The creation of __________ is most likely to mark the beginning of the creative development process for the promotion of a product.

line extensions

brand identity

a mission statement

a positioning statement

2. 4 points

Question 18

1. Companies like McDonald's, who place their stores in as many locations as possible, are using a strategy called __________ distribution.

intensive

selective

exclusive

direct

2. 4 points

Question 19

1. A firm's distribution strategy is concerned with two key elements:

shipping and warehousing.

the channel of distribution and physical distribution.

pricing strategy and credit standards.

facility location and value stream mapping for product flow.

2. 4 points

Question 20

1. __________ aims to use price to send consumers a message about the high quality and exclusivity of a product.

Prestige pricing

Odd pricing

Penetration pricing

Loss-leader pricing

2. 4 points

Question 21

1. Fashion trend setters, such as Gucci, who establish one retail outlet in a given area, are utilizing a(n) __________ distribution strategy.

intensive

selective

exclusive

multichannel

2. 4 points

Question 22

1. When comparing the advantages of trucks and rail as modes of transportation, a key advantage of trucks is that they __________, while an advantage of railroads is that they __________.

are less costly; offer the greatest flexibility in handling

offer faster and more frequent shipments; offer lower shipping costs

offer more flexibility in handling; offer greater dependability

are the fastest mode of transportation; are the most readily available mode of transportation

2. 4 points

Question 23

1. The goal of distribution strategy is to:

minimize the number of distributors in the channel of distribution.

allocate goods from producers to consumers in the fairest possible way.

reconcile conflicts between pricing strategies and promotion strategies.

get the right product to the right person at the right place at the right time.

2. 4 points