MKTG 3701 FINAL EXAM REVIEW
QUESTIONS COMPLETE WITH 100%
CORRECT 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: - ANSWERS-a
warehouse club
\.marketers define customer value as: - ANSWERS-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. - ANSWERS-0
\.which outlet is a type of nonstore retailing? - ANSWERS-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: - ANSWERS-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? - ANSWERS-maturity
\.which component of a successful brand allows firms to engage customers
through online surveys and social media tools? - ANSWERS-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: - ANSWERS-merchandising
\.the goal of an integrated marketing communications strategy is to coordinate
the various promotion mix elements to: - ANSWERS-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: - ANSWERS-retailer
\.one of the worst mistakes a salesperson can make when using the FAB approach
is to: - ANSWERS-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? -
ANSWERS-an undifferentiated targeting strategy
, \.the act of organizations voluntarily donating some of their profits or resources to
charitable causes is referred to as: - ANSWERS-corporate philanthropy
\.the main advantage of a push strategy is that it: - ANSWERS-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: - ANSWERS-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: -
ANSWERS-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: - ANSWERS-scrambled merchandising
\.in global marketing research, what kind of information is best acquired from
secondary data? - ANSWERS-restrictions on the importing of products such as
quotas or tariffs
\.environmentalism does not typically focus its efforts on: - ANSWERS-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: -
ANSWERS-cannibalization
QUESTIONS COMPLETE WITH 100%
CORRECT 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: - ANSWERS-a
warehouse club
\.marketers define customer value as: - ANSWERS-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. - ANSWERS-0
\.which outlet is a type of nonstore retailing? - ANSWERS-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: - ANSWERS-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? - ANSWERS-maturity
\.which component of a successful brand allows firms to engage customers
through online surveys and social media tools? - ANSWERS-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: - ANSWERS-merchandising
\.the goal of an integrated marketing communications strategy is to coordinate
the various promotion mix elements to: - ANSWERS-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: - ANSWERS-retailer
\.one of the worst mistakes a salesperson can make when using the FAB approach
is to: - ANSWERS-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? -
ANSWERS-an undifferentiated targeting strategy
, \.the act of organizations voluntarily donating some of their profits or resources to
charitable causes is referred to as: - ANSWERS-corporate philanthropy
\.the main advantage of a push strategy is that it: - ANSWERS-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: - ANSWERS-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: -
ANSWERS-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: - ANSWERS-scrambled merchandising
\.in global marketing research, what kind of information is best acquired from
secondary data? - ANSWERS-restrictions on the importing of products such as
quotas or tariffs
\.environmentalism does not typically focus its efforts on: - ANSWERS-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: -
ANSWERS-cannibalization
