1
(MKT VERIFIED)
MKT 3701 FINAL EXAM SET OF QUESTIONS AND CORRECT
ANSWERS ALREADY GRADED A+ GUARANTEED SUCCESS
What is the premise behind the marketing concept?
a focus on satisfying the needs of the customer
In marketing, an exchange refers to?
buyers and sellers trading things of value so that each is better off as a result.
A company that has a market orientation and adheres to the marketing concept does NOT?
fuel sales growth through the application of aggressive sales techniques
A problem facing the timber industry is the absence of any effective way to prove that rain forest
timber has been legally harvested. In places like Indonesia, as much as 80 percent of timber
available for sale is illegally cut. Companies like The Home Depot do not want to sell timber
from illegally logged forests even though the demand is great for timber from rain forests. Which
of the following conditions required for an exchange to occur is missing when a company tries to
sell illegally acquired logs to The Home Depot?
Each party believes it is appropriate to deal with the other party.
Colorado Silversmith creates and markets silver and turquoise jewelry, which it sells to retailers
in the western United States. Management believes its retail customers will stock more jewelry if
its salespeople use aggressive marketing techniques, so the company provides strong incentives
for salespeople and promotional allowances to resellers to get distribution for its jewelry. In
other words, the company has a _____________ orientation?
sales
Kelloggs is offering free DVDs to consumers who collect five official Collection certificates
from the back panels of specially marked packages of Kelloggs cereals and then mail them with
the official order form. Within 90 days, these consumers will receive the movie of their choice.
_____________ will occur when a movie fan mails in his or her certificates for a movie?
exchange
Mimi Couturier is a design company that specializes in formalwear for women. The company is
known for challenging fashion mores. The fashion designers use computer assisted design
software to create what it thinks women should wear. The company regularly hires industry
experts to examine its factories to find waste and inefficiencies that can be eliminated. The
company has expanded the number of products it offers for sale many times. However, for the
, 2
(MKT VERIFIED)
last two years Mimi Couturier has lost money, and it has had to lay off some of its workforce. To
avoid this occurrence in the future, Mimi Couturier should?
have someone study its target market to see what needs and wants should be met by Mimi
Couturier
One facet of marketing is that it is?
a philosophy that stresses customer satisfaction
Researchers at PPG Industries spent considerable time, effort, and money developing a bluish
windshield that would let in filtered sunlight but block out the heat. Little market research was
done, but the scientists were convinced this new product would be significantly better than
existing windshields even though it was more expensive and of a different color than the current
models on the market. This scenario suggests PPG most likely has ________________
orientation?
production
get to and from her job. For Daphne, these things represent?
a need.
Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor
activities. In an effort to stave off competition, the company has begun keeping a log of customer
interests and hobbies so it can alert them to local events of relevance to them as well as send
them articles that pertain to their favorite activities. In addition, Outdoor Adventures has added a
section to their website where customers can post pictures of themselves using the stores gear.
These efforts illustrate how the firm is engaged in?
relationship marketing.
Earl is starting a new bank. Before the opening day, Earl had a meeting with all employees. He
discussed their mission, defined objectives for the bank for the coming years, and shared who
their target market is. He talked about their product offerings and where their future branches
would be located. Earl is sharing the bank?
marketing plan
Everyone knows the brand name Kleenex. Kleenex is what many consumers think of when they
think of tissues. This widely recognized brand name is a source of?
a product differentiation competitive advantage
How often should firms undertake the task of strategic planning?
on a continual basis as conditions change
, 3
(MKT VERIFIED)
In order to expand its sales, BRL, an Australia-based winemaker, agreed to a merger with a local
wine distribution company. According to Ansoff strategic opportunity matrix, BRL would be
implementing a _______ strategy?
market penetration
Toyota found that consumers wanted cars to last longer and be more environmentally friendly.
GM, however, enjoyed being the top U.S. car producer and focused more on how many cars and
trucks it could manufacture, not on what customers wanted from a vehicle. GM had more of a
____________ orientation?
production
When a homeowner visited The Home Depot to buy what he thought he needed to fix a leaking
toilet, he gathered up materials totaling almost $70. One his way to check out, an employee
asked him what was he trying to fix. After some discussion, the employee convinced the
homeowner that a $5.99 replacement part would fix the problem better than the materials he
thought he needed and with less trouble. This sort of discussion between employees and
customers is commonplace at The Home Depot and indicates the retail store has
______________ orientation?
market
A good mission statement should?
provide motivation for the employees of the firm.
How do companies go about strategic marketing planning?
marketing plan
All of the following are characteristics of a good objective EXCEPT?
profitable
Briggs & Stratton is a company that makes small engines. The company is looking at customer
trends, its competitors, and the economy to see if there are any threats or opportunities on the
horizon. It has also examined its production policies and sales histories to determine its strengths
and weaknesses. Briggs & Stratton is conducting?
situation analysis
According to your text, what is the most basic concept in marketing?
determining the difference between consumer needs and wants
All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT?
(MKT VERIFIED)
MKT 3701 FINAL EXAM SET OF QUESTIONS AND CORRECT
ANSWERS ALREADY GRADED A+ GUARANTEED SUCCESS
What is the premise behind the marketing concept?
a focus on satisfying the needs of the customer
In marketing, an exchange refers to?
buyers and sellers trading things of value so that each is better off as a result.
A company that has a market orientation and adheres to the marketing concept does NOT?
fuel sales growth through the application of aggressive sales techniques
A problem facing the timber industry is the absence of any effective way to prove that rain forest
timber has been legally harvested. In places like Indonesia, as much as 80 percent of timber
available for sale is illegally cut. Companies like The Home Depot do not want to sell timber
from illegally logged forests even though the demand is great for timber from rain forests. Which
of the following conditions required for an exchange to occur is missing when a company tries to
sell illegally acquired logs to The Home Depot?
Each party believes it is appropriate to deal with the other party.
Colorado Silversmith creates and markets silver and turquoise jewelry, which it sells to retailers
in the western United States. Management believes its retail customers will stock more jewelry if
its salespeople use aggressive marketing techniques, so the company provides strong incentives
for salespeople and promotional allowances to resellers to get distribution for its jewelry. In
other words, the company has a _____________ orientation?
sales
Kelloggs is offering free DVDs to consumers who collect five official Collection certificates
from the back panels of specially marked packages of Kelloggs cereals and then mail them with
the official order form. Within 90 days, these consumers will receive the movie of their choice.
_____________ will occur when a movie fan mails in his or her certificates for a movie?
exchange
Mimi Couturier is a design company that specializes in formalwear for women. The company is
known for challenging fashion mores. The fashion designers use computer assisted design
software to create what it thinks women should wear. The company regularly hires industry
experts to examine its factories to find waste and inefficiencies that can be eliminated. The
company has expanded the number of products it offers for sale many times. However, for the
, 2
(MKT VERIFIED)
last two years Mimi Couturier has lost money, and it has had to lay off some of its workforce. To
avoid this occurrence in the future, Mimi Couturier should?
have someone study its target market to see what needs and wants should be met by Mimi
Couturier
One facet of marketing is that it is?
a philosophy that stresses customer satisfaction
Researchers at PPG Industries spent considerable time, effort, and money developing a bluish
windshield that would let in filtered sunlight but block out the heat. Little market research was
done, but the scientists were convinced this new product would be significantly better than
existing windshields even though it was more expensive and of a different color than the current
models on the market. This scenario suggests PPG most likely has ________________
orientation?
production
get to and from her job. For Daphne, these things represent?
a need.
Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor
activities. In an effort to stave off competition, the company has begun keeping a log of customer
interests and hobbies so it can alert them to local events of relevance to them as well as send
them articles that pertain to their favorite activities. In addition, Outdoor Adventures has added a
section to their website where customers can post pictures of themselves using the stores gear.
These efforts illustrate how the firm is engaged in?
relationship marketing.
Earl is starting a new bank. Before the opening day, Earl had a meeting with all employees. He
discussed their mission, defined objectives for the bank for the coming years, and shared who
their target market is. He talked about their product offerings and where their future branches
would be located. Earl is sharing the bank?
marketing plan
Everyone knows the brand name Kleenex. Kleenex is what many consumers think of when they
think of tissues. This widely recognized brand name is a source of?
a product differentiation competitive advantage
How often should firms undertake the task of strategic planning?
on a continual basis as conditions change
, 3
(MKT VERIFIED)
In order to expand its sales, BRL, an Australia-based winemaker, agreed to a merger with a local
wine distribution company. According to Ansoff strategic opportunity matrix, BRL would be
implementing a _______ strategy?
market penetration
Toyota found that consumers wanted cars to last longer and be more environmentally friendly.
GM, however, enjoyed being the top U.S. car producer and focused more on how many cars and
trucks it could manufacture, not on what customers wanted from a vehicle. GM had more of a
____________ orientation?
production
When a homeowner visited The Home Depot to buy what he thought he needed to fix a leaking
toilet, he gathered up materials totaling almost $70. One his way to check out, an employee
asked him what was he trying to fix. After some discussion, the employee convinced the
homeowner that a $5.99 replacement part would fix the problem better than the materials he
thought he needed and with less trouble. This sort of discussion between employees and
customers is commonplace at The Home Depot and indicates the retail store has
______________ orientation?
market
A good mission statement should?
provide motivation for the employees of the firm.
How do companies go about strategic marketing planning?
marketing plan
All of the following are characteristics of a good objective EXCEPT?
profitable
Briggs & Stratton is a company that makes small engines. The company is looking at customer
trends, its competitors, and the economy to see if there are any threats or opportunities on the
horizon. It has also examined its production policies and sales histories to determine its strengths
and weaknesses. Briggs & Stratton is conducting?
situation analysis
According to your text, what is the most basic concept in marketing?
determining the difference between consumer needs and wants
All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT?
