Marketing Exam 1

Topics: Marketing, Pricing, Value-based pricing Pages: 31 (5812 words) Published: April 18, 2012
Based on the BCG portfolio analysis, products in low-growth markets that have received heavy investments and now have excess resources to spin off are:

Student ResponseCorrect AnswerFeedback
A.stars. cows.
C.question marks.
E.a combination of question mark and dog categories.

General Feedback:Cash cows are in the low-growth markets but are high market share products. Score:0/2

Which of the following is NOT one of the four major growth strategies marketers typically utilize?

Student ResponseCorrect AnswerFeedback
A.Market penetration
B.Market development
C.Product proliferation
E.Product development

General Feedback:Firms consider pursuing various market segments as part of their overall growth strategies, which may include market penetration, market development, product development, and diversification. Score:2/2

For B2B salespeople, usually the easiest sale is a __________________ situation.

Student ResponseCorrect AnswerFeedback
A.all buy buy
C.modified rebuy
D.straight rebuy
E.side by side buy

General Feedback:Straight rebuys occur when the buyer or buying organization simply buys additional units of products that had previously been purchased. Score:2/2

Wal-Mart is often used as an example of a store that consumers love to hate. When a new Wal-Mart opens in an area it often results in the decline of small, local businesses. Local groups often protest but, before long, find themselves shopping at Wal-Mart because Wal-Mart:

Student ResponseCorrect AnswerFeedback
A.offers better quality products.
B.benefits consumers through low prices and large assortment. C.benefits local communities through social welfare programs. D.makes life easier for the remaining businesses.
E.promotes union solidarity.

General Feedback:Marketers balance the product or service offering with a price that makes you comfortable with your purchase. Score:2/2

Business-to-business marketing refers to buying and selling goods or services by all of the following except:

Student ResponseCorrect AnswerFeedback

General Feedback:B2B marketing involves manufacturers, wholesalers, and service firms that market goods and services to other business but not to the ultimate consumer. Score:2/2

Globalization refers to the process by which all of the following flow across national borders EXCEPT:

Student ResponseCorrect AnswerFeedback
E.waterborne and airborne pollution.

General Feedback:Globalization refers to the process by which goods, services, capital, people, information, and ideas flow across national borders. Score:2/2

Dale's Appliance Repair Service has created a scheduling system using cellular communications and routing software to guide the work of each of its highly trained and well-equipped technicians. As a result, Dale's can make and keep exact appointments with customers. Other repair services in the area can only promise technicians will be there within a four- to six-hour block. As a result, Dale's has developed a loyal customer following and the business continues to grow through referrals. Dale's has developed:

Student ResponseCorrect AnswerFeedback
A.a marketing plan.
B.a customer-service specialization.
C.a referral development system.
D.a sustainable competitive advantage.
E.a technologically-sophisticated marketing solution.

General Feedback:A sustainable competitive advantage can be maintained for long periods of time and cannot be easily copied by competitors. Score:0/2

In B2B marketing, the ___________ is an integral component of the transaction.

Student ResponseCorrect AnswerFeedback
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