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Mkt 561 final exam latest 2016 version 30 30 correct answers
MKT 561 FINAL EXAM LATEST 2016
VERSION 30/30 CORRECT
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MKT 561 FINAL EXAM JUNE 2016 MKT 561
1. Apple hosts a large number of ________, which become customers' primary source of
product information after warranties expire and are organized by product lines and
type of user (consumer or professional).
2.Josh separated people who wanted a high quality lawn mower from people who wanted a
low priced lawn mower, then examined whether different characteristics were
associated with each consumer-response segment. Josh was defining segments using
3.Companies provide rewards to customers who buy often and in substantial amounts.
These reward schemes are referred to as ________ programs.
4.________ analysis looks at specific products, territories, and so forth that failed
to produce expected sales.?
5.Sapphire Toys actually sells more than toys. It also sells branded clothing, music
CDs, and books for children. This expansion of dealership sales offerings is an
attempt to increase the value of the customer base by ________.?
?making low-profit customers more profitable
?reducing the rate of customer defection
?increasing the longevity of the customer relationship
?enhancing the growth potential of each customer through cross-selling
??6.If Ming was interested in capturing distribution metrics for her retail
organization, which of the following might she consider?
?Share of shelf
7.The stage in the new product process that occurs first and has a pass ratio of 1:4
is the ________ stage.?
?product soft launch
8.A group of products within a product class that are closely related because they
perform a similar function, are sold to the same customer groups, are marketed
through the same outlets or channels, or fall within given price ranges is known as a
9.ROC Engineering, a Chinese shipbuilding company, agrees to build a fleet of
submarines for the Sri Lankan navy, for which it will be paid in Sri Lankan currency.
As per the agreement, ROC must also spend a substantial amount of the money it
generates through this deal within the country. In accordance with the contract, ROC
buys Sri Lankan tea at a reduced rate. This is an example of which of the following
forms of countertrade??
?10.In an attempt to improve their product, a company that manufactures screwdrivers
discusses the modification of each attribute, such as replacing the wooden handle
with plastic, providing torque power, adding different screw heads, and so on. This
creativity technique is called ________.
11.It has been observed that most new products have shorter product life cycles. What
is the reason for this??
?Social and governmental constraints lead to this failure.
?Rivals quickly copy products that are successful.
?New products do not get adequate management support.
?Most new products are not backed by a marketable idea.
12.When a firm aims to underprice competitors and win market share, it is using a(n)
________ strategy that requires relatively fewer marketing skills as compared to
?domestic customer relationship
?overall cost leadership
13.Robert is the owner of an automobile manufacturing company. He calls for a board
meeting and tells his directors that he wants to build a car that lets drivers
experience power and exhilaration. He tells them that the car must allow users to
soar from 0 to 60 mph in about 4 seconds. He also says the price of the car must be
affordable enough for anybody making a good salary. In accordance with the given
scenario, Robert is trying to segment the market on the basis of ________.?
14.Volkswagen concentrates on the small-car market and Porsche on the sports car
market. These would be examples of what is called ________.
15.?During which of the following stages in new product development decision-making
do managers analyze if they can find a good idea consumers say they would try?
?concept development and testing
16.Mark feels that Shell delivers on its promises to supply the best gasoline
possible to the public. His experiences with Shell have always been good, resulting
in positive brand contact. Mark is most likely experiencing brand ________.?
17.Market-penetration, product-development, and market-development strategies would
all be examples of ________ strategies.?
18.The ________ environment includes the actors involved in producing, distributing,
and promoting an offering. The main actors are the company, suppliers, distributors,
dealers, and the target customers.
19.Which of the following questions is answered during the business analysis of
?Have we got a technically and commercially sound product?
?Can this product meet sales expectations?
?Can we find a cost-effective, affordable marketing strategy?
?Will this product meet our profit goals?
20.________ gives products the appearance of being more environmentally friendly
without living up to that promise.
20.With respect to powerful brand elements, ________ is an extremely efficient means
to build brand equity. This element functions as a useful "hook" to help consumers
grasp what the brand is and what makes it special.?
?a product's shape
?the tangibility of a product
21.Creative strategies refer to the ________.
?amount of creative content in a communications message
?degree of innovation involved in the marketing of a product
?way marketers translate their messages into a specific communication
?novelty of a marketing communication
22.Which of the following best describes BR Chicken's value proposition??
?We target quality-conscious consumers of chicken.
?We sell chicken at most major malls.
?We sell tender golden chicken at a moderate price.
?We undertake home delivery services.
23.A ________ is a comprehensive, systematic, independent, and periodic examination
of a company's or business unit's marketing environment, objectives, strategies, and
activities, with a view to determining problem areas and opportunities and
recommending a plan of action to improve the company's marketing performance.?
?Market-based scorecard analysis
?24.When the Modern Museum of Art separated its consumers by whether they were
culture-oriented or outdoor-oriented for its new exhibit on art that used natural
materials, they were using ________ segmentation.
25.You are the marketing research director of a medium-sized manufacturing firm and
you would like to engage an outside marketing research firm to conduct field
interviews. Which of the following categories of marketing research firms should you
?global research management firms
?custom marketing research firms
?specialty-line marketing research firms
?syndicated-service research firms
26.Joe is a computer service technician. People in his neighborhood usually depend on
his suggestions for purchasing any computer accessory or hardware, as they believe he
has access to far more information on computer technology than the average consumer.
The neighbors are also aware that Joe has the required knowledge and background for
understanding the technical properties of the products. Within this context, Joe can
be called a(n) ________.?
27.When a company introduces a product at a high price and then gradually drops the
price over time, it is pursuing a ________ strategy.?
28.Top Gear is an award-winning British television series about motor vehicles,
mainly cars. The show is presented by hosts who test drive new cars and provide
reviews on the cars' performance, prices, and other factors. Which of the following
personal communications channels is Top Gear closest to in description?
28.Which of the following is the strongest differentiator for brick-and-mortar stores
who want to emphasize their superiority over online retailers?
?the shopping experience