MKTG 3701 Final Exam Review Questions
With Accurate Answers
a retailer that offers ultra-low prices, but requires customers to pay an annual
fee for the privilege of shopping in the store is referred to as: - ANSWER a
warehouse club
marketers define customer value as: - ANSWER the perceived benefits, both
monetary and nonmonetary, that customers receive from a product compared
with the cost associated with obtaining it
prices that end in ________ are often easier for customers to process and
retrieve from memory. - ANSWER 0
which outlet is a type of nonstore retailing? - ANSWER online retailing
maintaining high ethical standards on the part of the sales personnel is a critical
driver of sales force performance. it affects the firm's capacity to build
relationships with customers as well as: - ANSWER develop a positive work
environment for employees
in which stage of the product life cycle is there an increase in promotion to
resellers to entice them to continue to buy the company's product rather than a
competitor's? - ANSWER maturity
which component of a successful brand allows firms to engage customers
through online surveys and social media tools? - ANSWER capture feedback
the activities involved in acquiring particular goods and services and making
them available at the places, times, prices, and quantities that enable a retailer
to achieve its goals is referred to as: - ANSWER merchandising
the goal of an integrated marketing communications strategy is to coordinate
the various promotion mix elements to: - ANSWER provide consumers with a
clear and consistent message about the firm's products
an organization purchases products with the intention of selling them to the
ultimate consumer for their personal, family, or household use. This organization
is a: - ANSWER retailer
one of the worst mistakes a salesperson can make when using the FAB
approach is to: - ANSWER list features without tying them to benefits
,what type of targeting strategy works with uniform products for which the firm
can develop a single marketing mix that satisfies the needs of all customers? -
ANSWER an undifferentiated targeting strategy
the act of organizations voluntarily donating some of their profits or resources to
charitable causes is referred to as: - ANSWER corporate philanthropy
the main advantage of a push strategy is that it: - ANSWER allows firms to
achieve economies of scale
the total amount a customer will spend from acquisition through the end of a
relationship with a brand is referred to as: - ANSWER customer lifetime value
you are shopping with a good friend. while looking at a jacket, she comments
that she never buys clothes produced in Vietnam because the use of cheap
overseas labor is harmful to U.S. textile workers. this type of belief is known as: -
ANSWER consumer ethnocentrism
a retailer that adds goods and services that may be unrelated to each other and
to the firm's original business is engaged in: - ANSWER scrambled
merchandising
in global marketing research, what kind of information is best acquired from
secondary data? - ANSWER restrictions on the importing of products such as
quotas or tariffs
environmentalism does not typically focus its efforts on: - ANSWER increasing
the profitability of the renewable energy market
a risk associated with product-line extensions is that the new product may take
away from sales of existing products in the product line. this is referred to as: -
ANSWER cannibalization
the brand image that bears your name and that must be managed 24 hours a
day, 7 days a week, 365 days a year, is referred to as your: - ANSWER personal
brand
Andre works as a sales representative primarily in the industrial market. he
develops long-term relationships with his customers, has a deep knowledge of
their business, and helps them find creative solutions to problems. Andre's
customers consider him to be a trusted advisor. what kind of sales
representative is Andre? - ANSWER a consultative seller
, when highlighting a product's competitive advantage based on attributes, a firm
will: - ANSWER concentrate on the unique aspects of the product that sets it
apart from the competition
in order to combat the challenges associated with conducting marketing
research, it is essential that marketers: - ANSWER have a strong understanding
of marketing research concepts
what type of research involves asking consumers what comes to mind when
they think about the brand? - ANSWER free association
the selling of goods and services to end-user customers is referred to as: -
ANSWER B2C marketing
tasks such as hiring, scheduling, and motivating employees is the responsibility
of retail: - ANSWER store managers
according to your text, the ultimate objective of supply chain management is to: -
ANSWER integrate the activities of related companies so they function as one
extended enterprise
the marketing mix element where most of an organization's communications
with the marketplace occurs is: - ANSWER promotion
brand marks are elements of a brand that can be expressed in all of the
following ways except with: - ANSWER words
which stage of the new-product development process is usually the most
expensive for new products? - ANSWER product launch
the American Marketing Association has established these to ensure that
marketing firms do not return findings favorable to the client or arrive at a
conclusion predetermined by the client. - ANSWER ethical standards
an advantage to using a perceptual map is that it: - ANSWER can highlight
potential market positions that might be underserved
Gwendolyn is a 45-year-old Hispanic female who received a college degree in
psychology and now works as a school counselor. in her free time, she likes to
play tennis. based on this information, select the descriptor that would not be
classified as a demographic characteristic. - ANSWER Gwendolyn likes to play
tennis
if a product idea is deemed to have the potential of being profitable in the
business analysis stage, then it moves on to the ________ stage. - ANSWER
product development
With Accurate Answers
a retailer that offers ultra-low prices, but requires customers to pay an annual
fee for the privilege of shopping in the store is referred to as: - ANSWER a
warehouse club
marketers define customer value as: - ANSWER the perceived benefits, both
monetary and nonmonetary, that customers receive from a product compared
with the cost associated with obtaining it
prices that end in ________ are often easier for customers to process and
retrieve from memory. - ANSWER 0
which outlet is a type of nonstore retailing? - ANSWER online retailing
maintaining high ethical standards on the part of the sales personnel is a critical
driver of sales force performance. it affects the firm's capacity to build
relationships with customers as well as: - ANSWER develop a positive work
environment for employees
in which stage of the product life cycle is there an increase in promotion to
resellers to entice them to continue to buy the company's product rather than a
competitor's? - ANSWER maturity
which component of a successful brand allows firms to engage customers
through online surveys and social media tools? - ANSWER capture feedback
the activities involved in acquiring particular goods and services and making
them available at the places, times, prices, and quantities that enable a retailer
to achieve its goals is referred to as: - ANSWER merchandising
the goal of an integrated marketing communications strategy is to coordinate
the various promotion mix elements to: - ANSWER provide consumers with a
clear and consistent message about the firm's products
an organization purchases products with the intention of selling them to the
ultimate consumer for their personal, family, or household use. This organization
is a: - ANSWER retailer
one of the worst mistakes a salesperson can make when using the FAB
approach is to: - ANSWER list features without tying them to benefits
,what type of targeting strategy works with uniform products for which the firm
can develop a single marketing mix that satisfies the needs of all customers? -
ANSWER an undifferentiated targeting strategy
the act of organizations voluntarily donating some of their profits or resources to
charitable causes is referred to as: - ANSWER corporate philanthropy
the main advantage of a push strategy is that it: - ANSWER allows firms to
achieve economies of scale
the total amount a customer will spend from acquisition through the end of a
relationship with a brand is referred to as: - ANSWER customer lifetime value
you are shopping with a good friend. while looking at a jacket, she comments
that she never buys clothes produced in Vietnam because the use of cheap
overseas labor is harmful to U.S. textile workers. this type of belief is known as: -
ANSWER consumer ethnocentrism
a retailer that adds goods and services that may be unrelated to each other and
to the firm's original business is engaged in: - ANSWER scrambled
merchandising
in global marketing research, what kind of information is best acquired from
secondary data? - ANSWER restrictions on the importing of products such as
quotas or tariffs
environmentalism does not typically focus its efforts on: - ANSWER increasing
the profitability of the renewable energy market
a risk associated with product-line extensions is that the new product may take
away from sales of existing products in the product line. this is referred to as: -
ANSWER cannibalization
the brand image that bears your name and that must be managed 24 hours a
day, 7 days a week, 365 days a year, is referred to as your: - ANSWER personal
brand
Andre works as a sales representative primarily in the industrial market. he
develops long-term relationships with his customers, has a deep knowledge of
their business, and helps them find creative solutions to problems. Andre's
customers consider him to be a trusted advisor. what kind of sales
representative is Andre? - ANSWER a consultative seller
, when highlighting a product's competitive advantage based on attributes, a firm
will: - ANSWER concentrate on the unique aspects of the product that sets it
apart from the competition
in order to combat the challenges associated with conducting marketing
research, it is essential that marketers: - ANSWER have a strong understanding
of marketing research concepts
what type of research involves asking consumers what comes to mind when
they think about the brand? - ANSWER free association
the selling of goods and services to end-user customers is referred to as: -
ANSWER B2C marketing
tasks such as hiring, scheduling, and motivating employees is the responsibility
of retail: - ANSWER store managers
according to your text, the ultimate objective of supply chain management is to: -
ANSWER integrate the activities of related companies so they function as one
extended enterprise
the marketing mix element where most of an organization's communications
with the marketplace occurs is: - ANSWER promotion
brand marks are elements of a brand that can be expressed in all of the
following ways except with: - ANSWER words
which stage of the new-product development process is usually the most
expensive for new products? - ANSWER product launch
the American Marketing Association has established these to ensure that
marketing firms do not return findings favorable to the client or arrive at a
conclusion predetermined by the client. - ANSWER ethical standards
an advantage to using a perceptual map is that it: - ANSWER can highlight
potential market positions that might be underserved
Gwendolyn is a 45-year-old Hispanic female who received a college degree in
psychology and now works as a school counselor. in her free time, she likes to
play tennis. based on this information, select the descriptor that would not be
classified as a demographic characteristic. - ANSWER Gwendolyn likes to play
tennis
if a product idea is deemed to have the potential of being profitable in the
business analysis stage, then it moves on to the ________ stage. - ANSWER
product development
