Exam V Marketing (Counts 15% of Course Grade): MGT 8803 Business Fundamentals for Analytic, Exams of Economic Analysis

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Question 1 2 /^2 pts

Marketing Questions (Count 2 Points Each)

A marketing strategy: specifies a target market and a related marketing mix. provides a focused but narrow picture of what a firm will do in some market. is a whole-company plan. includes two interrelated parts--product mix and product development. includes the marketing mix, but does not specify customers.

Question 2 0 /^2 pts

Extreme Boards, a manufacturer of high performance snowboard, carefully developed a strategy for moving into South America. The strategy had poor results after an economic recession rapidly decreased consumer spending in recreational products in most of its South American markets, demonstrating the influence of the on marketing strategy. technology cultural values customer behaviors

Question 3 2 /^2 pts

Which of the following would be a variable in psychographic profiling (developing a customer persona). Check all answers that apply (may be more than one) lifestyle values brand loyalty attitudes personality marital status

Question 7 2 /^2 pts

A differentiated product may be unique in the marketplace but it will only be successful under which of the following circumstances. If it satisfies customer needs If the price difference is minimal If the brand can be classified as aspirational Differentiated products will always be successful

Question 8 2 /^2 pts

Controllable variables that the marketer has to create and harvest demand are referred to as the Competitive Offering Marketing Mix The 4 C's Value Proposition

Question 9 2 /^2 pts

Which ONE of the following is NOT a criteria for determining market segments? Members of the segments should be homogeneous along at least one important customer dimension The segment should be large enough to be profitable The segmenting dimensions should be useful in identifying specific customers and in designing the appropriate marketing mix Members of the segment should respond in a similar way to the same marketing offer Members of the segment should be in the same socio-economic class

Question 13 2 /^2 pts

Yamaha North America is planning on launching a new line of Jet Skis called the Double Riders, for the two seats that will come standard with the water craft. The concept is similar to a bicycle made for two. The North America marketing manager is having his direct sales force call on retailers to explain the roll-out strategy (timing, advertising, promotion, marketing collateral) and to hype product features to the firms most important resellers. This is an example of: a "pulling" product strategy a "pushing" product strategy an extensive distribution strategy a "short" channel strategy a "rolling" product strategy

Question 15 2 /^2 pts

Which of the following should not be considered one of the controllable elements in a firm's marketing strategy: price selection target market selection sales force design advertising content customer behavior product features

Question 19 2 /^2 pts

The particular situation a consumer is in during or around the time of purchase can have an effect on the actual purchase. Which of the following is NO T generally considered a key situational influence? physical surroundings purchase reason time available beliefs and opinions

When should Engineering first get involved in the product development process? ou Answered (^) Screening Commercialization orrect Answer (^) Idea Generation Idea Evaluation Development

Question 24 0 /^2 pts

Question 23 2 /^2 pts

What is the first thing a marketer should do to develop a new product or service? create a Facebook page launch a promotional campaign develop an understanding of the customer's needs brainstorm new ideas for a product or service develop a mockup or prototype

Question 25 2 /^2 pts

(True/False). Consumer product classes are based on how consumers shop for the product True False

Question 26 0 /^2 pts

Major appliances, furniture, and clothing are typical examples of products? convenience er (^) shopping specialty impulsive unsought

Question 31 2 /^2 pts

Independent wholesalers who own the products they resell are called . Agent wholesalers Brokers Retail wholesalers Merchant wholesalers Dealers