MKTG 3340 EXAM #2 QUESTIONS WITH VERIFIED
ACCURATE ANSWERS
Generate profitable Revenue - Answers - The purpose of marketing is to...
B - Answers - Which statement is most likely true about idea generation in the new
product development process?
A. A company can either develop ideas through internal or external sources but not
through both.
B. Idea generation is usually followed by procedures that reduce the total number of
ideas.
C. Most companies set a limit for the number of ideas generated to simplify the process.
D. Idea generation is most effective when it occurs after idea screening.
E. Intrapreneurial programs enable customers to contribute to the idea generation
process.
Crowdsourcing - Answers - Kallton is a multinational communications and information
technology corporation. Its principal products are mobile telephones and tablets. It
recently announced on its website that customers can suggest ideas for its upcoming
product model. Contributors of short-listed ideas will be adequately rewarded. In this
case, Kallton is using _____ to generate new product ideas.
Test marketing - Answers - Foods International is developing a new gluten-free pretzel.
The marketing strategy for the product has already been developed and presented to
top management. Several prototypes were also formulated by the company's R&D
team. The final prototype is now being tested rigorously to ensure that it passes FDA
standards. Once approved, the next step will most likely be...
Value-based - Answers - A ________ pricing strategy for an offering begins with an
assessment of customer needs and perceptions. Then a target price is set based on
customer perceptions of worth.
Cost-plus - Answers - Lovely Skin is establishing a pricing strategy for a new
moisturizer. The total cost to produce each unit is $3.50. The company has decided to
add a $1.50 markup, so the unit price to distributors will be $5. Lovely Skin is using a
________ approach to price the new moisturizer.
Competition-based - Answers - Los Amigos, a new Mexican restaurant, has set up shop
across the street from Hot Tamales and More. Which of the following pricing strategies
will Los Amigos likely use?
Market-skimming - Answers - With each new generation of Apple iphone, ipad, or Mac
computer, new models start at a high price then work their way down as newer models
are introduced. Apple initially uses a _____ strategy.
, C - Answers - Which of the following would be considered an upstream partner in a
company's supply chain?
A. A firm that resells a finished product and shares the net sales with the producer
B. A firm that a firm that markets a product to consumers through social media
C. A firm that provides technical expertise in the production of a product
D. A firm that buys products at wholesale cost from the company
D - Answers - Which of the following applies to a marketing intermediary who buys
brand name toothpaste from 10 different manufacturers, consolidates offerings, and
then resells the various brands to 500+ supermarkets?
A. Help a company develop a direct channel selling system
B. Facilitate the production of products without direct customer feedback
C. Buy small quantities of products from producers and break them down into narrow
assortments for customers
D. Transform the assortments of products made by producers into the assortments
wanted by customers
A - Answers - Performance Inc. Sells its newest athletic shoe styles to The Sneaker
Store and distributes dated or slightly defective merchandise through Sports
Discounters. Performance Inc.'s main competitor is Topnotch Manufacturers.
Performance Inc. Also markets its products through the company Web site. They decide
to offer a short-term online promotion to encourage consumers to buy their newest
athletic shoes, promoting a 20 percent discount off current retail prices. In such a
distribution channel, which of the following would be considered a vertical conflict?
A. A conflict between Performance Inc. And The Sneaker Store
B. A conflict among Performance Inc., The Sneaker Store, and Sports Discounters
C. A conflict between The Sneaker Store and Sports Discounters
D. A conflict between Performance Inc. And Sports Discounters
E. A conflict between Performance Inc. And Topnotch Manufacturers
Vertical marketing system - Answers - A ________ consists of producers, wholesalers,
and retailers acting as a unified system. The system can be dominated by any one of
the interdependent members.
Sales promotion - Answers - In a marketing communications mic, _____ refers to any
short-term incentive that encourages the purchase or sale of a product or service.
Direct marketing - Answers - In a promotion mix, ______ involves personally connecting
with carefully targeted individual consumers to both obtain an immediate response and
cultivate lasting customer relationships.
Multichannel distribution system - Answers - Victoria's Closet, a manufacturer of
bohemian-style clothing and accessories, sells its products through its online Web site,
a catalogue, and specialty boutiques that target women. Which kind of channel
arrangement does Victoria's Closet employ to distribute its products?
ACCURATE ANSWERS
Generate profitable Revenue - Answers - The purpose of marketing is to...
B - Answers - Which statement is most likely true about idea generation in the new
product development process?
A. A company can either develop ideas through internal or external sources but not
through both.
B. Idea generation is usually followed by procedures that reduce the total number of
ideas.
C. Most companies set a limit for the number of ideas generated to simplify the process.
D. Idea generation is most effective when it occurs after idea screening.
E. Intrapreneurial programs enable customers to contribute to the idea generation
process.
Crowdsourcing - Answers - Kallton is a multinational communications and information
technology corporation. Its principal products are mobile telephones and tablets. It
recently announced on its website that customers can suggest ideas for its upcoming
product model. Contributors of short-listed ideas will be adequately rewarded. In this
case, Kallton is using _____ to generate new product ideas.
Test marketing - Answers - Foods International is developing a new gluten-free pretzel.
The marketing strategy for the product has already been developed and presented to
top management. Several prototypes were also formulated by the company's R&D
team. The final prototype is now being tested rigorously to ensure that it passes FDA
standards. Once approved, the next step will most likely be...
Value-based - Answers - A ________ pricing strategy for an offering begins with an
assessment of customer needs and perceptions. Then a target price is set based on
customer perceptions of worth.
Cost-plus - Answers - Lovely Skin is establishing a pricing strategy for a new
moisturizer. The total cost to produce each unit is $3.50. The company has decided to
add a $1.50 markup, so the unit price to distributors will be $5. Lovely Skin is using a
________ approach to price the new moisturizer.
Competition-based - Answers - Los Amigos, a new Mexican restaurant, has set up shop
across the street from Hot Tamales and More. Which of the following pricing strategies
will Los Amigos likely use?
Market-skimming - Answers - With each new generation of Apple iphone, ipad, or Mac
computer, new models start at a high price then work their way down as newer models
are introduced. Apple initially uses a _____ strategy.
, C - Answers - Which of the following would be considered an upstream partner in a
company's supply chain?
A. A firm that resells a finished product and shares the net sales with the producer
B. A firm that a firm that markets a product to consumers through social media
C. A firm that provides technical expertise in the production of a product
D. A firm that buys products at wholesale cost from the company
D - Answers - Which of the following applies to a marketing intermediary who buys
brand name toothpaste from 10 different manufacturers, consolidates offerings, and
then resells the various brands to 500+ supermarkets?
A. Help a company develop a direct channel selling system
B. Facilitate the production of products without direct customer feedback
C. Buy small quantities of products from producers and break them down into narrow
assortments for customers
D. Transform the assortments of products made by producers into the assortments
wanted by customers
A - Answers - Performance Inc. Sells its newest athletic shoe styles to The Sneaker
Store and distributes dated or slightly defective merchandise through Sports
Discounters. Performance Inc.'s main competitor is Topnotch Manufacturers.
Performance Inc. Also markets its products through the company Web site. They decide
to offer a short-term online promotion to encourage consumers to buy their newest
athletic shoes, promoting a 20 percent discount off current retail prices. In such a
distribution channel, which of the following would be considered a vertical conflict?
A. A conflict between Performance Inc. And The Sneaker Store
B. A conflict among Performance Inc., The Sneaker Store, and Sports Discounters
C. A conflict between The Sneaker Store and Sports Discounters
D. A conflict between Performance Inc. And Sports Discounters
E. A conflict between Performance Inc. And Topnotch Manufacturers
Vertical marketing system - Answers - A ________ consists of producers, wholesalers,
and retailers acting as a unified system. The system can be dominated by any one of
the interdependent members.
Sales promotion - Answers - In a marketing communications mic, _____ refers to any
short-term incentive that encourages the purchase or sale of a product or service.
Direct marketing - Answers - In a promotion mix, ______ involves personally connecting
with carefully targeted individual consumers to both obtain an immediate response and
cultivate lasting customer relationships.
Multichannel distribution system - Answers - Victoria's Closet, a manufacturer of
bohemian-style clothing and accessories, sells its products through its online Web site,
a catalogue, and specialty boutiques that target women. Which kind of channel
arrangement does Victoria's Closet employ to distribute its products?
