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MK 411 Marketing Management Final Exam
Park University, Instructor Cheryl Bernier
Spring 2012
Total Point Value = 300

STUDENTNAME: __Kisha Barrett______________________________________________

DATE: 3/4//2012

NOTE TO PROCTORS: If you are faxing the exam, please ensure that the student’s name appears on each page!

TRUE/FALSE QUESTIONS: To follow are 20 true or false questions. You are to indicate whether each statement is true or false (T or F), based on your readings and understanding of the topics. Indicate your response on the attached answer sheet. Each question is worth 5 points, for a total of 100 points.

1. A product is anything that can be offered to a market to satisfy a want or need. (TRUE)

2. The product hierarchy stretches from basic needs to particular items that satisfy those needs. (TRUE)

3. A service is defined as any act or performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything. (TRUE)

4. Services cannot be stored, so their perishability can become a problem when demand fluctuates. (TRUE)

5. Price elasticity depends upon the magnitude and direction of the contemplated price change. (TRUE)

6. An increasing number of companies are basing their pricing on perceived value, which is the value that the consumer decides the product is worth and is the same across all incomes and regions of the company. (FALSE)

7. Marketing channels are sets of interdependent organizations involved in the process of making a product or service available for use or consumption. (TRUE)

8. Designing a marketing channel involves analyzing customer needs, establishing channel objectives, and identifying cost-saving channels, identifying key channel partners, and evaluating all alternatives. (TRUE)

9. Retailing includes all the activities involved in selling goods or services directly to final consumers for personal, nonbusiness use. (TRUE)

10. An off-price retailer is one in which the retailer has a broad selection of high-markup, fast-moving, brand-name goods in stock. (TRUE)

11. Brand recall is easier to achieve than brand recognition. (FALSE)

12. The factors that underlie source credibility include expertise, trustworthiness, and appropriateness. (FALSE)

13. An advertising goal (or objective) is a specific communications task and achievement level to be accomplished with a specific audience in a specific period of time. (TRUE)

14. The advertising objective should emerge from a thorough analysis of the current marketing situation. (TRUE)

15. Sales training today tries to transform a salesperson from a passive order taker into an active order getter who engages in customer problem solving. (TRUE)

16. One of the shortcomings of direct marketing is that the firm conducting the marketing cannot easily measure its response to find out which campaign was most effective.

17. A company can add new products through acquisition or development. (TRUE)

18. Truly innovative products incur the greatest cost and risk to the firm because they are both new to the company and new to the marketplace. (TRUE)

19. Global firms, because they are targeting such a large market, must abandon niche strategies. (FALSE)

20. The main disadvantage of direct investment is that the firm exposes a large investment to risks such as blocked or devalued currencies, worsening markets, or expropriation. (TRUE)

STUDENTNAME: Kisha Barrett________________________________________________

ESSAY QUESTIONS: To follow are 12 essay questions. You are to choose 10 questions and provide a response to the 10 questions of your choice. Be sure to indicate which questions you chose to answer. If you answer more than 10 questions, I will only grade the first 10. Your goal is to provide a well-developed, approximately 2-paragraph response to each chosen question. You want to demonstrate your understanding...
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