MKT 571 Final Exam Answers
MKT 571 Final Exam 3
1. BMW, the maker of the Mini Cooper brand, is using what kind of brand strategy with its Mini products?
2. Painting and consulting are considered industrial goods because ______________.
3. Which of the following best describes the role of social responsibility in marketing?
4._____________ is the key ingredient in marketing campaigns and consists of a diverse collection of short-term incentive tools designed to influence trial, purchase, and interests of consumers and wholesalers.
5. Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
6.___________ are formal statements of expected product performance by the manufacturer.
7. A __________ pricing objective is suitable for a company that has overcapacity, intense competition, and changing customer needs.
8. Which of the following is most closely associated with a proactive marketing orientation?
9. When Apple introduced its popular iPod Nano model, it dropped its Mini iPod at the same time. The Mini was, at the time, the most popular MP3 player in the marketplace. This is an example of __________.
10. Hospitals are engaged in intense competition to fill maternity beds. What type of advertising would hospitals most likely use to advertise their new amenities like hot tubs in every room, filet mignon or lobster on the menu, and afternoon teas for the new mothers and their families?
11. The introduction of a new product to the market using market-penetration pricing is most likely to be successful when _____________.
12. In 2003, Toyota introduced its Scion brand with the aim of bringing younger buyers into the “family.” This was a classic example of _________________.
13. Mr. Tse and his family took a vacation to Washington, D.C. While there, they bought souvenirs, t-shirts, and hats to take home to family and friends who didn’t have the opportunity to go. The experience of the Tse family is an example of which offering?
14. Which of the following best describes integrated marketing communication (IMC)?
15. When SAP software added a Windows-style “back” button to its industrial invoice management software, the new product ___________.
16. Brands can play a number of specific roles within a company’s brand portfolio. For example, a __________ is positioned with respect to competitors’ brands so that more important and profitable brands retain their desired positioning.
17. Characteristics a buyer can evaluate before purchase are called _______________.
18. Mazda’s Miata convertible originally drew the most interest from women between the ages of 35 and 55. In order to interest more potential customers in the roadster, Mazda beefed up the model with heavier shocks and a faster engine, and then emphasized performance in its advertising. This is an example of creating a new product by ____________.
19. For $15 a day, Chlena will go to your home and feed, water, and play with your pet while you are on vacation. The service Chlena provides is an example of a _____________.
20. Business buyers ______________.
21. A ___________ is when a parent brand is used on a new product targeting a new market segment within a category currently served by the parent.
22. A common mistake in pricing is ____________________.
23. Best Buy will often try to sell the buyer of a high-end television monitor an extended warranty. This is an example of _______________.
24. Within the last couple years several cosmetics manufacturers have introduced non-clumping mascara. Revlon was one of these manufacturers. Revlon should use ________ advertising to increase selective demand for its non-clumping mascara.
25. Which of the following areas will a marketing manager standardize or adapt when taking a new product global?
26. Public policy makers have developed a substantial body of laws and regulations to govern advertising. For these reasons, an important step in developing an advertising campaign is _____________.
27. When customers buy on the basis of a reference price or because the price conveys a particular quality image to them, they are being influenced by ____________.
28. Toyota, the maker of the Scion brand, is using what kind of brand strategy with Scion products?
29. Scotty is in the process of opening Suburban Legends SK8S to sell boards, wheels, trucks, clothing, videos, and skateboarding related collectibles. The first thing Scotty should do when setting the store’s prices is to ____________.
30. Marketers plan their market offerings at five levels. What is the correct order of the levels, going from most fundamental to the level with the most benefits?