MKT 421 Final Exam Guide 6
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MKT 421 Final Exam Guide 6

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1) According to the text, marketing means:
    

2) For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds 

they will make, is:


3) Which of the following statements best describes the modern view of marketing?
    


4) Which of the following statements regarding marketing strategies is FALSE? 
    


5) Professional Dental Supply has been successfully selling dental instruments to dentists for the past 20 years, and has developed strong 

customer relations. When looking for new marketing opportunities, Professional Dental Supply will most likely look first at



6) To compete more successfully with its many competitors offering packaged cookies, Famous Amos added its own line of extra chunky 

premium cookies. This seems to be an effort at: 
    

7) The marketing mix
    


8) A firm's marketing mix decision areas would NOT include:
    


9) The four Ps of a marketing mix are:
    


10) A firm's decisions regarding channel type, market exposure, and kinds of intermediaries would fall under the marketing mix variable of
    


11) When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:
    

12) Big Fizz Co., a manufacturer of cola-flavored drinks, wants to add packaged fruit juices to its existing product line. Big Fizz must 

make some decisions regarding packaging and branding of the fruit juices. These decisions would fall under which variable of the 

marketing mix?
    

13) Which of the following would probably NOT be in a proposed marketing plan?
    


14) Which of the following is part of a complete marketing plan?
    


15) A marketing plan is:
    

16) Target marketing, in contrast to mass marketing,
    


17) Marketing strategy planners should recognize that:
    


18) Good marketing strategy planners know that:
    



19) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select 

target markets and develop suitable marketing mixes.
    


20) Clustering techniques applied to segmenting markets
    

21) The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable 

marketing mixes is called:
    


22) Procedures that develop and analyze new information to help marketing managers make decisions are called: 
    


23) ________________ ________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make 

more informed decisions.
    


24) A ______________ is an organized way of continually gathering and analyzing data to get information to help marketing managers 

make ongoing decisions. 
    


25) The part of the relevant population that is surveyed by a researcher is called the:
    


26) Marketing research which seeks structured responses that can be summarized is called: 
    

27) Focus groups:
    


28) A small manufacturing firm has just experienced a rapid drop in sales. The marketing manager thinks that he knows what the problem 

is and has been carefully analyzing secondary data to check his thinking. His next step should be to:
    


29) The observing method in marketing research: 
    


30) The attitudes and behavior patterns of people are part of the
    


31) The first step in market segmentation should be: 
    
32) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select 

target markets and develop suitable marketing mixes. 
    

33) Market segmentation: 
    

34) The product life cycle: 
    

35) The product life cycle has four stages. Which of the following is NOT one of these? 
    
36) Which of the following is a DEMOGRAPHIC segmenting dimension? 
    

37) During the market introduction stage of the product life cycle: 
    

38) An industry's sales have leveled off and profits are declining in oligopolistic competition. Consumers see competing products as 

homogeneous. Several firms have dropped out of the industry, but a new one entered recently. Firms in the industry are trying to avoid 

price-cutting by spending on persuasive advertising. These firms are competing in which stage of the product life cycle? 
    

39) Which of the following observations concerning the market maturity stage is NOT TRUE? 
    

40) While watching a television program, Liza gets a phone call just as a commercial is starting. She presses the mute button on the 

television's remote control and takes the call, so she pays no attention to the commercial. In terms of the communication process, the 

telephone call is an example of: 
    

41) Price reductions given to channel members to encourage them to advertise or otherwise promote a firm's products locally are: 
    

42) Noise (in the traditional communication process) refers to: 
    
43) The Canyonlands Corporation is introducing a new product next month. To prepare for the introduction, the marketing manager is 

having his sales force call on distributors to explain the unique features of the new product, how the distributors can best promote it, and 

what sales volume and profit margins they can reasonably expect. In addition, Canyonlands is budgeting 2% of its estimated sales for 

magazine advertising. This is an example of: 
    

44) Nantucket Hammocks, Inc. uses dealer incentives, discounts, and sales contests in order to encourage retailers to give special attention 

to selling its products. Nantucket Hammocks is using 
    

45) Integrated direct-response promotion: 
    
46) Positioning analysis 
    

47) Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided 

NOT to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is 

counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the 
    

48) When segmenting broad product-markets, cost considerations tend 
    

49) Which of the following is NOT a trend affecting marketing strategy planning in the area of international marketing? 
    
50) A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs. 
    

51) When a company grows globally, this is an example of: 
    

52) Identify the incorrect statement about sales promotions. 
    

53) It is usually the _________ job, perhaps with help from specialists in technology, to decide what types of sales technology tools are 

needed and how they will be used. 
    

54) Which of the following is a key trend affecting marketing strategy planning? 
    

55) Which of the following statements about ethical behavior in business is true? 
    

56) Many Internet sites, such as Autobytel.com and Edmunds.com, have extensive information about the prices of new and used vehicles 

that anyone can use for free. In light of the availability of this information, what is the responsibility of consumers to use it? 
    

57) The future poses many challenges for marketing managers because:

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