MKT 421 Final Exam Guide 1
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MKT 421 Final Exam Guide 1

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

2) Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of 

3) 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: 

4) 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: 


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


7) Which of the following is true? 


8) The four Ps of a marketing mix are: 


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

10) 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? 


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


12) The ______ area of the marketing mix is concerned with decisions about getting the right product to the target market when and where it is wanted. 

13) The main difference between a marketing strategy and a marketing plan is that: 

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


15) A marketing plan is: 


16) Marketing strategy planners should recognize that: 

17) Good marketing strategy planners know that: 


18) Target marketing, in contrast to mass marketing, 


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) ________________ ________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions. 

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

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

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

26) When focus group interviews are used in marketing, 

27) One of the major disadvantages of the focus group interview approach is that 


28) Which of the following statements about consumer products is true? 

29) The marketing manager at Massimino & McCarthy, a chain of retail stores that sells men's clothing, is reviewing marketing research data to try to determine if changes in marketing strategy are needed. Which of the following sources of data would be a secondary data source? 


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


31) ______________ 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. 


32) Which is the first step in market segmentation? 


33) The first step in market segmentation should be: 

34) Tom and Sally Jones are preparing to purchase a new car. He currently has a Toyota Camry and she has a Honda Accord. They now have two children under age 5, so they plan to trade in Sally's car to purchase a minivan. Sally and Tom decided on a Honda Odyssey because Sally is familiar with Hondas and thinks they are very reliable. In this purchase situation, Tom and Sally's family life cycle stage is a _____________ segmentation dimension, and the benefit Sally seeks (reliability) is a _____________ segmentation dimension. 


35) The product life cycle: 


36) The product life cycle has four stages. Which of the following is NOT one of these? 


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


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


39) Cargill, Inc. is finally earning a profit on the unique product it introduced 6 months ago. Cargill's advertising is both informative and persuasive. Much money is being spent on Place development. There is little price competition, although several competitors have come out with reasonable imitations. Total industry sales and profits are both rising. In which stage of the product life cycle is Cargill operating? 


40) Noise (in the traditional communication process) refers to: 

41) 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: 


42) Advertising allowances 

43) A producer using very aggressive promotion to get final consumers to ask intermediaries for a new product has: 

44) A producer using normal promotion efforts—personal selling, sales promotion, and advertising—to help sell a whole marketing mix to possible channel members has: 


45) Integrated direct-response promotion: 

46) Positioning analysis 

47) Which of the following statements about positioning is NOT TRUE? 


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


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


50) Which of the following is NOT a trend affecting marketing strategy planning in the area of international marketing? 


51) A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs. 


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

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