Mkt 571 Final Exam

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MKT/571 Final Exam

1) Which of the following is most closely associated with a proactive marketing orientation? A. It involves delivering superior value.
B. It is about understanding and meeting customers’ expressed needs. C. It represents the “make and sell" philosophy.
D. The marketer focuses on the customers’ latent or hidden needs.

2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. A. internally

B. management
C. segmentation
D. integration

3) Business buyers ______________.
A. are geographically as diverse as consumers
B. tend to be geographically concentrated with over half of them in seven states C. are largely concentrated in the southwestern United States D. use geographical dispersion to keep shipping costs low

4) Toyota, the maker of the Scion brand, is using what kind of brand strategy with Scion products? A. Separate family names
B. Blanket family names
C. Individual names
D. Corporate names

5) BMW, the maker of the Mini Cooper brand, is using what kind of brand strategy with its Mini products? A. Individual names
B. Blanket family names
C. Separate family names
D. Corporate names

6) Brands can play a number of specific roles within a company’s brand portfolio. For example, a __________ is positioned with respect to competitors’ brands so that more important and profitable brands retain their desired positioning. A. cash cow

B. low-end, entry level brand
C. high-end, prestige brand
D. flanker

7) When Apple introduced its popular iPod Nano model, it dropped its Mini iPod at the same time. The Mini was, at the time, the most popular MP3 player in the marketplace. This is an example of __________.

A. brand extension
B. preemptive cannibalization
C. a brand shake-out
D. product maturity

8) A ___________ is when a parent brand is used on a new product targeting a new market segment within a category currently served by the parent. A. joint-venture co-brand
B. same company co-brand
C. category extension
D. line extension

9) ___________ are formal statements of expected product performance by the manufacturer. A. Open pricing statements
B. Promotional statements
C. Warranties
D. General guarantees

10) Mazda’s Miata convertible originally drew the most interest from women between the ages of 35 and 55. In order to interest more potential customers in the roadster, Mazda beefed up the model with heavier shocks and a faster engine, and then emphasized performance in its advertising. This is an example of creating a new product by ____________. A. repositioning

B. the development of a new product line
C. market diversification strategy
D. product development strategy

11) When SAP software added a Windows-style “back” button to its industrial invoice management software, the new product ___________. A. used a new product line
B. added to an existing product line
C. improved upon an existing product
D. used a marketing diversification strategy

12) In 2003, Toyota introduced its Scion brand with the aim of bringing younger buyers into the “family.” This was a classic example of _________________. A. line featuring
B. line cannibalization
C. line padding
D. line stretching

13) Painting and consulting are considered industrial goods because ______________. A. they are specialty goods
B. they are considered “component materials"

C. most firms do not seek them directly
D. they facilitate developing and managing the finished product

14) Marketers plan their market offerings at five levels. What is the correct order of the levels, going from most fundamental to the level with the most benefits? A. Basic-expected-augmented-core-potential

B. Expected-potential-basic-augmented-core
C. Core-basic-expected-augmented-potential
D. Potential-augmented-expected-core-basic

15) Characteristics a buyer can...
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