97969827-Test-1-Mar2011 MKT302

Test 1

Part 1 of 4 - 22.0/ 26.0 Points

Question 1 of 50 0.0/ 2.0 Points

The Daniels College of Business at the University of Denver offers an outstanding

business school education. Cali pays the tuition to attend Daniels and earns her

MBA with a concentration in Supply Chain Management. Upon graduating, she is

offered a high paying, fulfilling position. Was this a marketing exchange?

A. No, because the university made a profit from Cali's tuition through the entire time

she was in school and will most likely receive additional funds from Cali as an

alumni.

B. No, because money was exchanged in the form of tuition and Cali' income will

come from her employer, not her graduate school.

C. No, because the school did not provide Cali with a tangible product, only the

potential of an education.

D. Yes, because the university promised Cali she would graduate on time and she did.

E. Yes, because paying tuition was exchanged for knowledge that directly led to

Cali's fulfilling, new job.

Answer Key: E

Feedback: What you chose was incorrect.


United Way of Greater Toronto (UWGT), like many charities, was sitting on a gold

mine of donor data (including companies, groups, and individuals). Unfortunately,

UWGT was not certain how to use that information to its greatest advantage.

UWGT could blanket past donors with generic mailings, but it could not offer

donors information that would convince them to donate to UWGT rather than

other charities. Which of the following tools would be most useful for the nonprofit organization to utilize?

A. A flexible marketing system

B. A database warehouse

C. Customer relationship management

D. Competitive intelligence

E. A customer-oriented marketing mix

Answer Key: C

Feedback: What you chose is correct.


Figure 01-05

In Figure 01-05, letter "A" represents which stage in the life of market-oriented manufacturing firms?

A. Sales era

B. Production era

C. Age of consumerism

D. Marketing concept era

E. Customer relationship era

Answer Key: B



Which of the following statements best distinguishes between macromarketing

and micromarketing?

A. Macromarketing uses a marketing program, and micromarketing does not.

B. Macromarketing is affected by environmental forces, but micromarketing is not.

C. Micromarketing is affected by environmental forces, but macromarketing is not.

D. Macromarketing looks at the flow of an entire nation's goods and services, and

micromarketing concerns itself with the marketing activities of an individual or

organization.

E. Micromarketing looks at the flow of an entire nation's goods and services, and

macromarketing concerns the marketing activities of an individual or organization.

Answer Key: D



The benefits or customer value received by users of a product is called

A. utility.

B. synergy.

C. consumerism.

D. cost-benefit ratio.

E. buyer-seller reciprocity.

Answer Key: A



The most likely market for cosmetic dentistry (which can cost $15,000 for

straightening and whitening) is

A. children with crooked teeth, when crooked teeth runs in the family.

B. all former smokers who have been smoke free for at least one year.

C. anyone who has the time, the money, and the desire to undergo the procedures.

D. anyone that has ever had any plastic surgery.

E. adults who rely on making a good first impression for job success.

Answer Key: C



Which of the following most directly explains why pharmaceutical giant Pfizer

offered low-income senior citizens many of its most widely used prescriptions for $15 each a month?

A. the profit motive since aging baby boomers are a highly significant market.

B. the social responsibility concept.

C. the necessity of matching competitors' actions.

D. new regulatory Medicare mandates.

E. increased influence of religious leaders in political affairs.

Answer Key: B



Many companies subscribe to being "green" because they feel that this is valued

by the consumer. Yet, often in these same firms, office computers are left on 24

hours a day, office paper is not recycled, and employees are not encouraged to

take public transportation to work. This example indicates it is not always easy for firms to act in accordance with the

A. marketing concept.

B. management concept.

C. organizational strategy.

D. environmental strategy.

E. green compliance strategy.

Answer Key: A



The marketing manager's controllable factors - product, price, promotion, and

place - that can be used to solve a marketing problem are referred to as the

A. marketing concept

B. marketing mix

C. marketing program

D. environmental factors

E. management tools

Answer Key: B



The period of American business history when firms could produce more than

they could sell and the focus was on hiring more salespeople to seek out new

markets and customers is referred to as the __________ era.

A. marketing concept

B. production

C. sales

D. societal marketing concept

E. consumerism

Answer Key: C



In 1952, General Electric's annual report contained this statement: "The concept

introduces…marketing…at the beginning rather than the end of the production

cycle and integrates marketing into each phase of the business." This is a brief statement of what has come to be known as the

A. hard-sell strategy.

B. age of consumerism.

C. sales concept.

D. marketing concept.

E. management concept.

Answer Key: D



Which of the following groups would be the least likely target market for a

company producing canned foods in single serving sizes?

A. Single adults

B. School kitchens

C. Campers

D. Senior citizens

E. Vending machine owners

Answer Key: B



The activity for creating, communicating, delivering and exchanging offerings

that benefit the organization, its stakeholders and society at large is referred to as

A. marketing

B. advertising and promotion

C. innovative selling

D. creative planning

E. consumerism

Answer Key: A


Part 2 of 4 - 16.0/ 26.0 Points


The first step in the strategic marketing process is

A. establishing the budget.

B. developing advertising appeals.

C. goal setting.

D. marketing programming.

E. situation analysis.

Answer Key: E



What is the marketing term for aggregating prospective buyers into groups that

have common needs and will respond similarly to a marketing action?

A. Aggregation marketing

B. Market segmentation

C. Market clustering

D. Profiling

E. Mass marketing

Answer Key: B



The __________ for Lucent Technologies is "To use our unique capabilities to

ensure that our customers thrive, our business grows, and we enrich the personal communications experience for people around the world."

A. benefit statement

B. business portfolio

C. functional philosophy

D. mission

E. corporate code

Answer Key: D



See Figure 2-5. A small family owned gelato business is the town's favorite place

for parents and children to stop on their way home from work or school.

However, the business owner is barely making ends meet. He is beginning to

think that he will not be able to support his family if things don't improve, but he

doesn't want to give up his store. Instead, he experiments by selling hand-made

flies on the Internet for professional sports fishermen. This is an example of a

__________ strategy that would be found in box __________.

A. market penetration; A

B. product development; B

C. market development; C

D. market reversal; D

E. diversification; D

Answer Key: D



The marketing strategy to sell existing products to new markets is referred to as

__________.

A. market penetration

B. market infiltration

C. market development

D. market diversification

E. market capitalization

Answer Key: C



Designing a car is expensive and time-consuming even with the use of computers

because until recently there was no way for all the varied departments that are

involved in new car development to work together. Daimler-Chrysler created a

unique central Web-based system that cuts the design and production process by

at least two years, thus providing value to the customer. This is an example of

a(n)

A. benchmarking project.

B. innovation-oriented mission.

C. action program.

D. operational goal implementation.

E. competency.

Answer Key: E



When sales revenue is chosen as an organizational goal, a firm whose profits are

acceptable

A. increases sales levels and strives for a constant level of profits.

B. maintains sales levels and strives for maximum profitability.

C. maintains or increases sales levels even though profitability may not be

maximized.

D. decreases sales levels but increases profit margins.

E. decreases sales levels and reduces the profit margin.

Answer Key: C



Figure 2-5

See Figure 2-5. A small family owned gelato business is the town's favorite place

for parents and children to stop on their way home from work or school.

However, the business owner is barely making ends meet. He experiments by

purchasing a case of large take-home containers, so not only can customers stop

on the way home from school or work, they can enjoy the gelato after dinner as

well. Profits begin to rise. This is an example of a __________ strategy that would be found in box __________.

A. market penetration; A

B. market infiltration; A

C. product development; B

D. market development; C

E. diversification; D

Answer Key: A



Which of the following statements regarding the strategic business unit level is

most accurate?

A. The strategic business unit level is the level that works most directly with the

targeted customers.

B. The overall strategy for the organization is directed at the strategic business unit

level.

C. In more complex organizations the corporate level and the strategic business unit

level may merge.

D. More end-user analysis is provided at the strategic business unit level than at the

functional level.

E. The strategic direction is more specific at the strategic business unit level than at

the corporate level.

Answer Key: E



The 3M Company developed an innovative program called Pollution Prevention

Pays (3P) to reduce harmful environmental impacts__________.

A. while making a profit doing so.

B. while complying to new governmental incentives.

C. by educating consumers on the benefits of recycling.

D. by publically challenging its major competitors to do the same.

E. by absorbing the costs through higher consumer prices.

Answer Key: A



The strategic business unit level at which managers set a more specific strategic

direction for their businesses to exploit value-creating opportunities is referred to as the

A. marketing department level.

B. strategic business unit level.

C. corporate strategy level.

D. promotional tactics level.

E. mission implementation level.

Answer Key: B



See Figure 2-7. A Florida-based flashlight company has been extremely successful

due in part to the number of hurricanes in Florida that resulted in a loss of power.

It is thinking of expanding its product offerings to include other emergency

supplies such as generators and survival kits. Before going ahead with this

decision there were several factors that had to be taken into consideration: They

have a great reputation with their flashlights and don't want to ruin it. Their

physical plant could be refitted relatively easily to make small generators, but it

would be rather costly. They would have to rely on someone else to manufacture

and package the survival kits. And, although there are nine named hurricanes

scheduled for the upcoming year, no one really can predict what will happen. The

need to rely on another company to supply the survival kits would fall in which quadrant (s) of the grid?

A. Quadrant A

B. Quadrant B

C. Quadrant C

D. Quadrant D

E. Quadrants C and D

Answer Key: D



Men's Wearhouse (MW) caters to the man who doesn't necessarily enjoy

shopping. The stores are located in outdoor shopping centers so that customers

can get in and out quickly. Additionally the MW targets the budget-conscious

consumer with suit prices ranging from $250-300. Earnings rose 23% recently,

indicating that the location of the stores and the pricing strategy both are part of

the MW

A. competitive advantage.

B. benchmarking expertise.

C. tactical innovation.

D. leapfrogging capabilities.

E. viable mission.

Answer Key: A


Part 3 of 4 - 16.0/ 24.0 Points


Generation Y refers to

A. the generation of children born between 1946 and 1964.

B. the generation of children born between WWI and WWII.

C. the 15% of the population born between 1965 and 1976, also called the baby bust .

D. the 72 million Americans born between 1977 and 1994, also called echo boom or

boomlets .

E. the generation of children born at the millennium, also called the unknown

generation .

Answer Key: D



A statistical area that has at least one urban cluster of at least 10,000 but less

than 50,000 people, and adjacent territory that has a high degree of social and economic integration is referred to as a

A. micropolitan statistical area.

B. metropolitan statistical area.

C. consolidated metropolitan statistical area.

D. secondary marketing statistical area.

E. combined marketing statistical area.

Answer Key: A



According to some predictions, which of the following statements regarding

attitudes and the roles of men and women is most likely to occur if current trends continue?

A. The attitudes of men towards women will change more dramatically than the

attitudes of women towards men.

B. The attitudes of women towards men will change more dramatically than the

attitudes of men towards women.

C. The buying habits of men will become much more predictable than those of

women.

D. The gap between buying patterns of men and women will grow.

E. The gap between buying patterns of men and women will diminish.

Answer Key: E



Barriers to entry refer to

A. business practices or conditions that make it difficult for new firms to enter the

market.

B. governmental prohibitions regarding the establishment of businesses that are

considered immoral.

C. governmental prohibitions regarding the establishment of businesses that are

considered legal but unethical.

D. Restrictive fees that are set intentionally high in order to prevent additional

competition in an already top-heavy industry.

E. Strong-armed tactics that are illegal but common, used in certain industries to

prevent competition.

Answer Key: A



Technological advances are difficult to predict, however, four new technologies

that are expected to have impact on marketing within the next few years include

A. nanotechnology, biotechnology, cloud computing, and wireless power.

B. biotechnology, radiography, stellar imaging, and crystal power.

C. bio-imaging, wireless power, radiography, and solar power.

D. chemical vaporization, biotechnology, radiation spectrum analysis, and bio-fuels.

E. neuron technology, radiation spectrum analysis, cloud computing, and wireless

power.

Answer Key: A



There is a greater concern for health and well-being in the United States. This is

most likely evidenced by

A. increased sales of Cigar Aficionado magazine.

B. the revamping of the format for Parents magazine.

C. the increased number of women in management positions.

D. the opening of more Starbucks coffee houses.

E. more advertising for exercise equipment.

Answer Key: E



In marketing, the four basic forms of competition refer to

A. pure competition, limited competition, oligopoly, and monopoly.

B. dictatorship, monarchy, oligarchy, and democracy.

C. pure competition, cross-market competition, oligopoly, and pure monopoly.

D. pure competition, monopolistic competition, oligopoly, and pure monopoly.

E. technological competition, market competition, governmental competition, and

environmental competition.

Answer Key: D



Which of the following is an example of how Generation Y members are different from other generations?

A. They are parents of the baby boomers.

B. They are attracted to purposeful work where they have control.

C. They represent the first generation that has less than the previous generation.

D. The represent the children of the first decrease in birthrate in the U.S. since WWII.

E. They have little interest in communication relative to other generations.

Answer Key: B



There have been significant cultural changes in the United States over the past 30

years especially in the attitudes and roles of men and women in the marketplace. The first generation to have no collective memory of these dramatic changes is

A. baby boomers.

B. Generation X.

C. Generation Y.

D. Generation Z.

E. Generations cannot have a "collective" memory since generations overlap.

Answer Key: C



Office Depot has developed wireless, handheld computers for its staff. When

customers inquire about a product, a computer equipped sales associate can pull

detailed information about the product right out of the corporate database.

Employees at one store can contact employees at another store for advice or

information. This is an example of how __________ can be used to enhance marketing.

A. Internet servers

B. partnering software

C. electronic data interchange browsers

D. extranets

E. intranets

Answer Key: E



Kodak, Fuji, and Agfa control the majority of sales for amateur photographic film.

The film industry is an example of a(n)

A. oligopoly.

B. trilateral monopoly.

C. unfair trade practice.

D. purely competitive position.

E. monopolistic competition position.

Answer Key: A



Predicting the future in terms of environmental scanning requires assumptions

about the number of years the trends will continue and

A. the total potential investment required to achieve company goals.

B. the total potential revenues that could be generated as a result of additional

investment now.

C. the rate of increase or decline in the various stages.

D. a marketing department that is willing to forego immediate results.

E. a large enough cash reserve to counteract any negative financial difficulties.

Answer Key: C


Part 4 of 4 - 18.0/ 24.0 Points


Fear of physical harm, size of financial outlay required to buy the product,

product performance, and even the lack of approval of friends, are all examples of

factors that contribute to

A. consumer angst.

B. cognitive dissonance.

C. purchase anxiety.

D. perceived risk.

E. consumer cynicism.

Answer Key: D



Mary was thrilled to begin her new job after she graduated from college. Which of

the following purchases would most likely have the greatest perceived risk for her the day before she begins the job?

A. A magazine subscription to Glamour

B. A cell phone

C. Flowers to decorate her new apartment

D. A new outfit for her first day at work

E. A pair of jeans to wear on weekends

Answer Key: D



Lifestyle refers to

A. a subjective measurement of the importance of freedom of choice to spend one's

time and money as one pleases.

B. a mode of living that is defined by how people choose to spend their discretionary

income and leisure time.

C. a self-defined identification of belonging to a lower, lower-middle, middle, upper-

middle, or upper class in terms of choices that can be made about how one's money is

spent.

D. a self-defined identification of belonging to a lower, lower-middle, middle, upper-

middle, or upper class in terms values, attitudes, and beliefs.

E. a mode of living that is identified by how people spend their time and resources;

what they consider important in their environment; and what they think of themselves

and the world around them.

Answer Key: E



The famous experiment wherein Dr. Pavlov presented dogs with food at the same

time he rang a bell, resulted in dogs that salivated when the bell was rung, even

when food was not presented. What principle related to consumer behavior did this research involve?

A. Changing antecedent states

B. The scientific method

C. Behavioral learning

D. Programmed responsive reasoning

E. Cognitive dissonance

Answer Key: C



The American Express advertising claim that "membership has its privileges"

creates which type of reference group?

A. Aspiration group

B. Dissociative group

C. Assimilation group

D. Integrated group

E. Membership group

Answer Key: A



The personal, social, and economic significance of the purchase to the consumer

is referred to as

A. aspiration

B. acculturative response

C. motivation

D. selective perception

E. involvement

Answer Key: E



When Betty Crocker advertises that baking a cake from one of its mixes tastes

just like homemade, it is influencing which type of learning?

A. Stimulus discrimination

B. Cognitive learning

C. Brand loyalty

D. Stimulus generalization

E. Behavioral learning

Answer Key: B



An external search for product information is especially important when

A. the cost of gathering information is low.

B. review of past experience provides adequate information.

C. the risk of making a wrong purchase decision is low.

D. the item is frequently purchased.

E. the item is for personal use rather than for professional use.

Answer Key: A



The five aspects of the purchase situation that impact the consumer's purchase

decision process: purchase task, social surroundings, physical surroundings, temporal effects, and antecedent states are referred to as

A. marketing mix influences.

B. psychological influences.

C. situational influences.

D. sociocultural influences.

E. evaluative criteria.

Answer Key: C



The feeling of postpurchase psychological tension or anxiety consumers may

experience when faced with two or more highly attractive alternatives, is referred to as

A. angst.

B. the temporal state.

C. the dissociative state.

D. selective perception.

E. cognitive dissonance.

Answer Key: E



In the hierarchy of needs water, food, and oxygen would be considered

__________ needs.

A. physiological

B. safety

C. social

D. personal

E. psychological

Answer Key: A



Figure 5-2

In Figure 5-2 above a number of factors are listed such as display, navigation,

voice quality, and battery life. These are typical __________ for smart phones.

A. considerations

B. evaluative criteria

C. information bits

D. quality considerations

E. value sources

Answer Key: B


97969827-Test-1-Mar2011 MKT302

Documents

Transcript of 97969827-Test-1-Mar2011 MKT302