Mm522 Final Exam

Good Essays
Topics: Marketing
Page 1

1. (TCO B) What are the advantages of qualitative measurements when doing marketing research? What are the disadvantages? Be sure to answer both questions. (Points : 25)

| 2. (TCO C) What are the benefits to a company of a well-executed BRANDING strategy? What are the benefits to a consumer? (Points : 25)

| 3. (TCO H) Marketers recognize that the marketing of services is different than the marketing of a product because of the different characteristics that distinguish them from physical products. How do marketers communicate the value of services to consumers? How do they make these intangible services appear tangible to the consumer? What are some marketing strategies that might be employed with services to ensure positive results? In your answer, provide an example of a service to which your strategies would be utilized.(Points : 25)

| 4. (TCO D) Your company is about to introduce a new product that will increase the fuel mileage on ANY gasoline-powered car by 25%. This is a genuine product that REALLY works and has received endorsements left and right as a tool to help America become less dependent on foreign oil. Utilizing the micropulverization capabilities of electronic frequency distribution, the GasEnhance device will take an automobile that gets 28 mpg and allow it to get 25% more mileage; that is, 35mpg. It REALLY works! Your cost to manufacture this product is $115.00 and installation (which is easy) requires about one hour, or about $60 for labor. What Kotler pricing strategy will you use, knowing that your competition has a similar product that will likely use a slightly different technology and that will be out in 120 days? Rumor has it that their product will provide 35% more mileage.(Points : 25)

| 5. (TCO F) Edward Adams is the new sales manager for Wolfe Corporation. He has just come aboard to head up a sales force of seventy sales professionals, all of whom possess at least a Bachelors degree, many of

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