MKT 571 Final Exam Latest Question Answers
1. Which component of a marketing audit includes major developments in income, prices, savings, and credit that affect the company?
2. Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he or she expects the shoes to cover his or her feet and allow him or her to walk unobstructed. This is an example of what level in the consumer-value hierarchy?
â€¢ Core benefit
â€¢ Pure tangible product
â€¢ Basic product
â€¢ Potential benefit
3. What type of strategy consists of geographical pricing, price discounts and allowances, ...view middle of the document...
ABC Technology is nearing completion on their product and market research has discovered a competitor is also close to launching a similar product. ABC has decided launch before their competition, this is called ________.
â€¢ first entry
â€¢ parallel entry
â€¢ late entry
â€¢ early entry
9. What can enhance the value of Web-based shopping experiences to serve as personal shopping assistants or Web-site guides?
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10. Through its cutting-edge point-of-sale inventory, management technology, and highly efficient shipping practices, Wal-Mart is able to keep its inventory expenditure extremely low and to pass these savings on to consumers in the form of low prices. Wal-Martâ€™s strategy is best described as ________.
â€¢ Overall cost leadership
â€¢ market development
â€¢ integrative growth
11. If the Ford GT is designed to accelerate to 50 miles per hour within 10 seconds, and every Ford GT coming off the assembly line does this, the model is said to have high ________.
â€¢ conformance quality
12. Which control should periodically reassess its approach to the marketplace with a good marketing audit?
â€¢ Marketing control
â€¢ Ethical control
â€¢ Performance control
â€¢ Strategic control
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13. What is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering because of the product, service, people, and image?
â€¢ Total management benefit
â€¢ Complete marketing benefit
â€¢ Total customer benefit
â€¢ Ultimate service benefit
14. With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.
â€¢ market specialization
â€¢ product specialization
â€¢ selective specialization
â€¢ single-segment concentration
15. Which of the following can induce a firm to expand into the international arena?
â€¢ A saturated foreign market
â€¢ Cater to a domestic mass market
â€¢ High income level of domestic consumers
â€¢ A saturated domestic market
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16. The effect of exposures on audience awareness depends on the following three factors:
â€¢ space, communication, and advertisements
â€¢ reach, frequency, and impact
â€¢ distance, timing, and focus
â€¢ height, length, and width
17. 2Wheels conducts exhaustive customer surveys to discover customer preferences and attitudes towards the brand. Sally uses cluster analysis to classify the data and help the company determine the trends in the information. Sally is using the technique of ________.
â€¢ data marketing
â€¢ data governance
â€¢ data accumulation
â€¢ data mining
18. A music school in Boyles Height, LA, specializes in teaching the guitar and the violin. After a spurt in growth...