MKTG FINAL EXAM LATEST REAL EXAM 200 QUESTIONS
AND CORRECT ANSWERS|AGRADE
Price is not used for trade promotions as it garners a negative opinion for the brand.
- ANSWER: False
Relationship marketing assumes that many consumers and business customers
prefer an ongoing relationship with one organization rather than switch continually
among providers in their search for value. - ANSWER: True
Large customers insist on cash rebates if the guarantee of stores profit margins are
not met - ANSWER: True
An effective business mission statement is: - ANSWER: Based on an analysis of
anticipated environmental conditions
Competition remains constant during a products life cycle - ANSWER: False
In order to combat US corporations' use of illegal payments and bribes in
international business dealings, Congress enacted: - ANSWER: he Foreign Corrupt
Practices Act
An effective marketing objective: - ANSWER: - Is compared to a benchmark
Andrea booked a trip to an exotic island as a gift to her husband, Bill, for their 10th
wedding anniversary. Andrea is anxious because she is afraid Bill will not like her
choice of location. She is also worried as she spent too much money for the trip. In
this scenario, Andrea is experiencing: - ANSWER: Cognitive Dissonance
Macy's stock its downtown Chicago location to meet a high demand for woman's
shoes in larger sizes, while its stocks its long island location to meet high demand for
electric coffee percolators is an example of - ANSWER: - Geographic Segmentation
As sales of Apples IPad minis have risen, sales of the 9'7 iPad have fallen. This has
caused Sharp Corp to significantly cut back its productions of the larger IPads. An
example of: - ANSWER: Cannibalization
Lawnmower Inc. sells its mowers to retailers at different prices depending on
whether they are independent stores or members of a nation chain. - ANSWER: Price
Discrimination
Wotf is a pricing policy whereby a firm charges a high introductory price, often
coupled with heavy promotion? - ANSWER: Price Skimming
The goal of inventory management is to: - ANSWER: - Minimize inventory levels
while maintaining an adequate supply of goods to maintain customers' demands
, Wotf is an advantage of supply chain management to companies? - ANSWER:
improved customer service
____ compete on the basis of low prices, high turnover, and high volume. - ANSWER:
Discount Stores
Kelly's Kitchen, a popular chain of fast food restaurants, offers a kids' meal pack free
with every purchase of its luxury meal pack. - ANSWER: Premium
Wotf is true of a franchise? - ANSWER: - It sells products under the brand name of a
larger supporting organizational structure
At Great Bear Nature Tours, the owners are careful to treat both guests and
employees very well. - ANSWER: Internal Marketing
Univ Airlines and MiragoAirlines are two competing airlines. They make an
agreement to charge customers a certain price for airfreight. - ANSWER: Price fixing
What are the three categories that pricing can be divided into? (20.2) - ANSWER: 1)
Price oriented
2) Sales oriented
3) Status Quo
Dynamic Pricing - ANSWER: A strategy whereby prices are adjusted over time to
maximize a company's revenues
- To help adjust the prices
Who do shopping bots theoretically give pricing power to? (20.6) - ANSWER:
consumers
What is a fixed cost? (20.5) - ANSWER: business costs, such as rent, that are constant
whatever the quantity of goods or services produced
What is a variable cost? (20.5) - ANSWER: a cost that varies with the level of output
How can adequate distribution for a new product be attained? (20.6c) - ANSWER:
Adequate distribution for a new product can often be obtained by giving dealers a
large trade allowance
What is price skimming? - ANSWER: A firm charges a high introductory
price, often coupled with heavy
promotion
What is price fixing? - ANSWER: An agreement between two or more firms on the
price they will charge for a product.
AND CORRECT ANSWERS|AGRADE
Price is not used for trade promotions as it garners a negative opinion for the brand.
- ANSWER: False
Relationship marketing assumes that many consumers and business customers
prefer an ongoing relationship with one organization rather than switch continually
among providers in their search for value. - ANSWER: True
Large customers insist on cash rebates if the guarantee of stores profit margins are
not met - ANSWER: True
An effective business mission statement is: - ANSWER: Based on an analysis of
anticipated environmental conditions
Competition remains constant during a products life cycle - ANSWER: False
In order to combat US corporations' use of illegal payments and bribes in
international business dealings, Congress enacted: - ANSWER: he Foreign Corrupt
Practices Act
An effective marketing objective: - ANSWER: - Is compared to a benchmark
Andrea booked a trip to an exotic island as a gift to her husband, Bill, for their 10th
wedding anniversary. Andrea is anxious because she is afraid Bill will not like her
choice of location. She is also worried as she spent too much money for the trip. In
this scenario, Andrea is experiencing: - ANSWER: Cognitive Dissonance
Macy's stock its downtown Chicago location to meet a high demand for woman's
shoes in larger sizes, while its stocks its long island location to meet high demand for
electric coffee percolators is an example of - ANSWER: - Geographic Segmentation
As sales of Apples IPad minis have risen, sales of the 9'7 iPad have fallen. This has
caused Sharp Corp to significantly cut back its productions of the larger IPads. An
example of: - ANSWER: Cannibalization
Lawnmower Inc. sells its mowers to retailers at different prices depending on
whether they are independent stores or members of a nation chain. - ANSWER: Price
Discrimination
Wotf is a pricing policy whereby a firm charges a high introductory price, often
coupled with heavy promotion? - ANSWER: Price Skimming
The goal of inventory management is to: - ANSWER: - Minimize inventory levels
while maintaining an adequate supply of goods to maintain customers' demands
, Wotf is an advantage of supply chain management to companies? - ANSWER:
improved customer service
____ compete on the basis of low prices, high turnover, and high volume. - ANSWER:
Discount Stores
Kelly's Kitchen, a popular chain of fast food restaurants, offers a kids' meal pack free
with every purchase of its luxury meal pack. - ANSWER: Premium
Wotf is true of a franchise? - ANSWER: - It sells products under the brand name of a
larger supporting organizational structure
At Great Bear Nature Tours, the owners are careful to treat both guests and
employees very well. - ANSWER: Internal Marketing
Univ Airlines and MiragoAirlines are two competing airlines. They make an
agreement to charge customers a certain price for airfreight. - ANSWER: Price fixing
What are the three categories that pricing can be divided into? (20.2) - ANSWER: 1)
Price oriented
2) Sales oriented
3) Status Quo
Dynamic Pricing - ANSWER: A strategy whereby prices are adjusted over time to
maximize a company's revenues
- To help adjust the prices
Who do shopping bots theoretically give pricing power to? (20.6) - ANSWER:
consumers
What is a fixed cost? (20.5) - ANSWER: business costs, such as rent, that are constant
whatever the quantity of goods or services produced
What is a variable cost? (20.5) - ANSWER: a cost that varies with the level of output
How can adequate distribution for a new product be attained? (20.6c) - ANSWER:
Adequate distribution for a new product can often be obtained by giving dealers a
large trade allowance
What is price skimming? - ANSWER: A firm charges a high introductory
price, often coupled with heavy
promotion
What is price fixing? - ANSWER: An agreement between two or more firms on the
price they will charge for a product.
