MKT 571 Final Exam Questions

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MKT 571 Final Exam Questions

MKT 571 Final Questions

1.What type of strategy consists of geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing

2.The three guidelines for anticipating management reactions are (1) prior to the crisis during normal day-to day operations, (2) at the moment some event triggers the crisis, and (3) during the crisis situation that triggers the event. These guidelines are the stages for ____.

3.A social definition of marketing says

4.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 ____

5.Prestige LLC, a small company that manufactures specialty cereals and energy bars, wants to launch a "green marketing" program in response to heightened consumer awareness about environmental issues. What should the company do to maximize the program's chances of being successful?

6.What type of control focuses on measuring a company s products territories, customer groups, segments, trade channels, and order sizes to help expand or eliminate any products or marketing activities

7.Another basis for decision-making is referred to as ____.

8.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-Mart's strategy is best described as ____.

  1. ___ is an approach that considers different ethnic and cultural segments require targeted marketing campaigns and tactics.

10.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

11.2Wheels 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 ____.

12.With ____ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.

13.Marketers need to identify the hierarchy of attributes that guide consumer decision making in order to understand different competitive forces and how these various sets get formed. This process of identifying the hierarchy is called ____.

14.A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ____ can show the firm which brands are most competitive with its own.

15.Which of the following can induce a firm to expand into the international arena

16.The marketing manager needs to know the cost of the research project before approving it. During which stage of the marketing research process would such a consideration most likely take place? Step 2 developing the research plan

17.Which control should periodically reassess its approach to the marketplace with a good marketing audit

18.What can enhance the value of Web-based shopping experiences to serve as personal shopping assistants or Web-site guides?

19.What are the four characteristics of a marketing audit?

20.A music school in Boyles Height, LA, specializes in teaching the guitar and the violin. After a spurt in growth and a few successful years, the school is experiencing a slowdown in sales and stability in its profits due to an increase in competition. The school is in the ____ stage of its life cycle.

21.New-to-the-world products are ____.

22.BMW's "The ultimate driving machine," American Express' "Don't leave home without it," New York Times' "All the news that's fit to print," and AT&T's "Reach out and touch someone" are all examples of ___

23.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 ____

24.Which of the following is a strategy that uses the manufacturer s sales force, trade promotion money, or other means to induce intermediaries to carry, promote, and sell the product to end users?

25.The ability to meet humanity s needs without harming future generations is now a top priority in most corporate agenda ____.

26.Which method identifies the effect sponsorship has on consumers brand knowledge?

27.Which component of a marketing audit includes major developments in income, prices, savings, and credit that affect the company?

28.The effect of exposures on audience awareness depends on the following three factors:

29.A firm must know where to position its product based on price and ____.

30.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?

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