MKT 100 Week 11 FINAL EXAM ..QUESTIONS AND ANSWERS... 100%

• Question 1 5 out of 5 points is an assessment of what the customer gets compared with what the customer gives up. Selected Answer: Correct Answer: B. Val ue B. Val ue • Question 2 5 out of 5 points Which of the following is NOT one of the three ways for companies to set prices? Selected Answer: Correct Answer: D. discretionary prices D. discretionary prices • Question 3 Profit maximization occurs when marginal revenue equals . 5 out of 5 points Selected Answer: Correct Answer: C. marginal cost C. marginal cost • Question 4 5 out of 5 points If a change in price barely effects demand, that means the demand is . Selected Answer: Correct Answer: B. Inelas tic B. Inelas tic • Question 5 If demand bounces around when prices change, it’s . 5 out of 5 points Selected Answer: Correct Answer: A. Elas tic A. Elas tic • Question 6 5 out of 5 points In a(n) , the featured brand name is mentioned, as is the brand name of a competitor. Selected Answer: Correct Answer: C. comparati ve ad C. comparati ve ad • Question 7 5 out of 5 points If a company spends a considerable amount of money on an ad, and it wants to measure how well consumers remembered the ad, it should run what type of test? Selected B. Answer: DA R Correct B. Answer: DA R • Question 8 5 out of 5 points A company sometimes uses humor in its ads to communicate with its fun-loving consumers. In this case, what type of ads does the company create? Selected Answer: Correct Answer: B. Emotio nal B. Emotio nal • Question 9 5 out of 5 points SnowBlowers, Inc. is targeting consumers in the northern regions of the U.S., and focusing on giving consumer practical and function reasons to buy its snowblowers. What type of ad is SnowBlowers, Inc. using? Selected Answer: Correct Answer: C. cognit ive C. cognit ive • Question 10 5 out of 5 points What term is used to describe an experiment run by an ad agency where the ad agency will recruit consumers to come watch a TV series and commercials like those for Cheerios? The consumer will then answer questions about the ads and the agency uses the responses to determine how well the ads will do in the real world. Selected Answer: Correct Answer: C. copy testing C. copy testing • Question 11 5 out of 5 points When a retailer is planning for its sales force, it starts with the question, “How many salespeople should we have?” What is the next question they should be asking? Selected Answer: Correct Answer: C. How should salespeople be compensated for their efforts? C. How should salespeople be compensated for their efforts? • Question 12 5 out of 5 points Apple computers used to be in the business of manufacturing only, but then they opened Apple stores. This is an example of which of the following? Selected Answer: Correct Answer: B. forward integration B. forward integration • Question 13 5 out of 5 points When the decisions seem overwhelming, we should simplify and remember that the key to marketing is to think about the . Selected Answer: Correct Answer: C. Custo mer C. Custo mer • Question 14 5 out of 5 points When a firm is coordinating the flow of all goods, services and information among channel members, and throughout the channel, it is referred to as: Selected Answer: Correct Answer: C. Logist ics C. Logist ics • Question 15 5 out of 5 points Most consumers wouldn’t drive very far to buy a pack of gum since it’s a lost- cost item that is often bought on impulse. Therefore, this product needs to be distributed . Selected Answer: Correct Answer: A. Intensi vely A. Intensi vely • Question 16 5 out of 5 points National Electronics makes hearing aids. They created one humorous ad, and they made another ad that explained how the device will make the user’s life better. These 2 ads are an example of across media and messages. Selected Answer: Correct Answer: C. Integra tion C. Integra tion • Question 17 5 out of 5 points Propose that you work for Nordstrom and you advertise during American Idol. Their rating is 19. This is equal to 21.3 million TV’s. American Idol charges $700,000 for a 30-second ad. If a merchandise contribution at Nordstrom is $20, how many purchases are required to break even for the ad costs? Selected Answer: Correct Answer: D. 35,0 00 D. 35,0 00 • Question 18 In marketing, GRP is an acronym for: 5 out of 5 points Selected Answer: Correct Answer: D. gross rating points D. gross rating points • Question 19 5 out of 5 points is usually used for sports. It can also sometimes be of other cultural or artistic endeavors. It is an effective medium because it’s exciting, and the brands draw from both their positive valence and their high positive energy. Selected Answer: Correct Answer: D. Event sponsorship D. Event sponsorship • Question 20 A fairly subtle approach to advertising is . 5 out of 5 points Selected Answer: Correct Answer: A. product placement A. product placement • Question 21 5 out of 5 points Which is NOT one of the 3 steps in the marketing research process? Selected Answer: Correct Answer: A. seeking customer relationship management databases A. seeking customer relationship management databases • Q