MKT 571

Topics: Marketing / Pages: 6 (1263 words) / Published: Mar 17th, 2014
MKT 571 FREE Final Exam Review with answer key
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1. Another basis for decision-making is referred to as ethical practices ?? ethical dilemmas situational ethics correct ethics
2. New-to-the-world products are ________.

existing products that are targeted to new geographical markets

new product enhancements that supplement established products

low-cost products designed to obtain an edge in highly competitive markets

new products that create an entirely new market

3. A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own.

switchers

hard-core loyals

split loyals

shifting loyals
4. Marketers need to identify the hierarchy of attributes that guide consumer decision making in order to understand different competitive forces and how these various sets get formed. This process of identifying the hierarchy is called ________.

market partitioning – Correct ?

brand association

market valuation- Wrong ?

market estimation

5. ABC Technology is nearing completion on their product and market research has discovered a competitor is also close to launching a similar product. ABC has decided launch before their competition, this is called ________.

early entry

parallel entry

first entry

late entry

6. Which of the following is a strategy that uses the manufacturer’s sales force, trade promotion money, or other means to induce intermediaries to carry, promote, and sell the product to end users?

Pull strategy – Wrong?

Lock strategy

Strategic plan

Push strategy –Correct ?

7. A music school in Boyles Height, LA, specializes in teaching the guitar and the violin. After a spurt in

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