Marketing 571 Final Exam Study Guide

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MKT/571 Final Examination Study Guide

This study guide prepares you for the Final Examination you complete in the last week of the course. It contains practice questions, which are related to each week’s objectives. Highlight the correct response, and then refer to the answer key at the end of this Study Guide to check your answers.

Use each week’s questions as a self-test at the start of a new week to reflect on the previous week’s concepts. When you come across concepts that you are unfamiliar with, refer to the Student Guide for that particular week. The Student Guide provides a breakdown of the readings that align to the Final Examination questions.

Week One: Understanding Marketing Management

Objective: Identify fundamental marketing concepts, trends, and tasks.

1.What is the broad purpose of the marketing concept?
a. Customer orientation
b. Production orientation
c. Selling orientation
d. Sales orientation

2.Which of the following is an example of primary data that would be used by Topps card company to determine popularity of its new hologram baseball card series? a. Input from focus groups that was put together specifically to discuss their perception of popularity of the hologram card series b. An article about the hologram cards in a recent issue of Sports Illustrated c. Sales records for baseball cards gathered by the industry’s trade council d. Data from sales records kept by exclusive dealers of Topp’s hologram series

Objective: Identify components of an effective marketing plan.

3.Which of the following best describes the expected level of company sales based on a chosen marketing plan and an assumed marketing environment? a. Company sales forecast
b. Sales quota
c. Company demand
d. Market potential

4.Rita Jenkins, president of the local Chamber of Commerce, had difficulty getting members to assist in running the organization. She felt it was because of lack of commitment to the Chamber. Her vice president felt it was due to having too many meetings. The organization’s secretary felt it was because there were several other professional organizations to which the members also belonged. If Rita wants to do research to determine the real reason why members do not want to run for office, she should begin by ________________. a. evaluating the advantages the Chamber offers over other similar organization b. defining the problem

c. developing the marketing research plan that she would employ d. holding focus groups of members of other similar organizations to determine whether the problems the Chamber is facing are universal or local

Objective: Apply the market research process in developing a business solution.

5.Which of the following best describes marketing research? a. Substitute for decision making
b. Aid to decision making
c. Part of the decision process
d. Correct decision making

Week Two: Buyer Behavior

Objective: Analyze how organizations build strong customer relationships and customer value through marketing.

6.Which of the following concepts can organizations use to build strong customer relationships? a. Marketing mix
b. Marketing concept
c. Production concept
d. Sales concept

7.Communication of customer satisfaction results should be done internally (inside the company or organization) for which of the following reasons? a. Communicating satisfaction findings externally would have little marketing value. b. You should not communicate satisfaction results internally for ethical reasons. c. To highlight good news and act on bad news

d. To satisfy upper management that all is going well

Objective: Explain the factors that influence consumer purchasing decisions.

8.Which of these factors influences consumer purchase decisions? a. Social influence
b. Need recognition
c. Purchase decision
d. Organizational influence

9.A(n) ________________ is likely to offer informal advice and information about a product or product...
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