Marketing Fundamentals Assignment | Buy Assignments Online
Question 1
/ 5 pts
(TCO 3) Three commonly used methods of evaluating marketing programs are
sales analysis, marginal analysis, and cost analysis.
sales analysis, profitability analysis, and marketing audits.
Correct!
Marketing ROI, metrics, and dashboards.
sales audits, cost audits, and marketing audits.
internal audits, external audits, and marketing control boards.
UnansweredQuestion 2
/ 5 pts
(TCO 1) The more a marketing plan is based on _____ rather than guesses, the less uncertainty and fewer risks are associated with executing it.
industry forecasts and sales predictions
intuitions and forecasts
past historical data
facts and valid assumptions
contingencies
UnansweredQuestion 3
/ 5 pts
(TCO 1) Which marketing strategy focuses on a single market segment, but adds additional product lines?
Full coverage
Market specialization
Product specialization
Selective specialization
Market-product concentration
UnansweredQuestion 4
/ 5 pts
(TCO 1) Based on relative competitive scope (broad target to narrow target) and source of competitive advantage (lower cost to differentiation), Porter’s four generic business strategies are differentiation, cost focus, differentiation focus, and
exclusivity.
electronic-focus.
quality focus.
cost leadership.
service leadership.
UnansweredQuestion 5
/ 5 pts
(TCO 1) Which of the following pieces of information is used in the implementation phase of the strategic marketing process?
Corporate return on investment
Gantt charts
Revenues associated with each point of market share
Trends in past and current revenues for industry and competitors in total and by segment
Possible cannibalization effects on other products in the line
UnansweredQuestion 6
/ 5 pts
(TCO 2) Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process?
Corporate return on investment
Market share for the product
Revenues associated with each point of market share
Trends in past and current revenues for industry and competitors
Possible cannibalization effects on other products in the line
UnansweredQuestion 7
/ 5 pts
(TCO 6) The first decision in developing an advertising program is to
set the budget.
state the mission of the advertising program.
identify the target audience.
select the appeal.
select the media.
UnansweredQuestion 8
/ 5 pts
(TCO 6) The proper blend of elements in the promotional mix depends on the type of product. The three specific characteristics to be considered are complexity, risk, and _____.
ancillary services
size
durability
accessibility
acceptability
UnansweredQuestion 9
/ 5 pts
(TCO 4) The promotional objective of the decline stage of the product life cycle is to
inform.
persuade.
compare.
remind.
None of the above
Question 10
/ 5 pts
(TCO 6) The _____ includes advertising, personal selling, sales promotion, public relations, and direct marketing.
promotion channel
communication chain
marketing matrix
Correct!
promotional mix
media mix
UnansweredQuestion 11
/ 5 pts
(TCO 7) Which of the following statements about the terms used for marketing intermediaries is true?
The most precise terms used to describe marketing intermediaries are dealer and distributor.
A retailer sells to consumers.
An agent has no legal authority to act on behalf of a manufacturer.
A wholesaler is an intermediary who sells to consumers.
Broker is a synonym for a dealer.
UnansweredQuestion 12
/ 5 pts
(TCO 5) Which of the following statements about the legal and regulatory aspect of pricing is true?
The Robinson-Patman Act deals with predatory pricing.
The Consumer Goods Pricing Act is the only federal legislation that deals directly with pricing issues.
The Sherman Act deals only with vertical price fixing.
The Federal Trade Commission Act deals with predatory pricing, deceptive pricing, and geographical pricing issues.
The Consumer Goods Pricing Act and the Robinson-Patman Act deal with price discrimination.
Question 13
/ 5 pts
(TCO 5) _____ involve(s) specifying the role of price in an organization’s marketing and strategic plans.
A business mission
Pricing constraints
Correct!
Pricing objectives
A pricing plan
The list or quoted price
Question 14
/ 5 pts
(TCO 5) The ratio of _____ to price is called value.
Correct!
perceived benefits
prestige value
value-added pricing
perceived revenue
perceived costs
UnansweredQuestion 15
/ 5 pts
(TCO 3) Market segmentation involves aggregating prospective buyers into groups that will respond similarly to a marketing action and
will pay attention to marketing messages.
have common needs.
be responsive to marketing research.
use the same payment methods.
go shopping on a regular basis.
Question 16
/ 5 pts
(TCO 2) The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called
environmental trending.
organizational scanning.
Correct!
environmental scanning.
aSWOT analysis.
acquisition scanning.
Question 17
/ 5 pts
(TCO 1) A key role of the marketing department is to
allocate financial resources across business units.
set the overall mission of the company.
provide talent management services.
Correct!
look outward.
assess global political situations.
UnansweredQuestion 18
/ 5 pts
(TCO 1) Which of the following statements about relationship marketing is most true?
Relationship marketing has a short-term focus on increasing profits.
Relationship marketing is easy to implement.
Relationship marketing is more effective when there is a personal, ongoing relationship between individuals in the selling and buying organizations.
Very few companies today are engaged in relationship marketing.
The Internet is an ideal forum for relationship marketing.
UnansweredQuestion 19
/ 5 pts
(TCO 1) The Daniels College of Business at the University of Denver offers an outstanding business school education. Cali pays the tuition to attend Daniels and earns her MBA with a concentration in supply chain management. Upon graduating, she is offered a high-paying, fulfilling position. Was this a marketing exchange?
No, because the university is a private one
Yes, because the university is profitable
Yes, because paying tuition was exchanged for knowledge that directly led to Cali’s fulfilling, new job
No, because money was exchanged
No, because the school did not provide Cali with a product
Question 20
/ 5 pts
(TCO 3) Which of the following is the BEST description of the target market for the latest Disney animated movie?
Everyone who can afford to buy a movie ticket
Everyone who likes movies
Correct!
Professionals who are parents of children between the ages of 6 and 12
People who collect movie memorabilia
People who live near a movie theater
UnansweredQuestion 21
/ 5 pts
(TCO 1) The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes for the old-fashioned products it markets. Concern about the _____ element of the marketing mix would make it eager to be featured in an upcoming edition of Taste of Home magazine.
product
price
promotion
place
production
UnansweredQuestion 22
/ 5 pts
(TCO 2) The Lemon Tree is a high-fashion boutique selling top-of-the-line women’s clothing and accessories. The keys to its success include knowing the customers’ changing tastes and providing something different from other retailers. In addition, because of the high value of the merchandise, The Lemon Tree’s management is exploring the use of computerized inventory controls and sales order processing. From this description, one can infer that the environmental category of least importance to The Lemon Tree is
economic.
regulatory.
technological.
social.
competitive.
UnansweredQuestion 23
/ 5 pts
(TCO 2) Recently a federal appeals court rendered a unanimous decision that Microsoft Corp. does not have an automatic right to put whatever features it wants into its Windows operating system; rather, each new feature needs to be evaluated separately. Many of these features are also made by much smaller companies. This ruling grew out of the power that Microsoft® holds in the software market, because it owns a major share of the marketplace. What purpose did this ruling have?
Protecting companies from one another
Protecting consumers from unfair trade practices
Protecting the future interests of society from dangerous business practices
Protecting consumers from one another
Protecting businesses from unfair consumer practices
UnansweredQuestion 24
/ 5 pts
(TCO 2) Graham-Field Health Products makes hospital beds and wheelchairs from component parts and materials it buys. It sells its products to hospitals, nursing homes, and retailers of healthcare products. Graham-Field Health Products operates in a(n) _____ market.
consumer
government
industrial
reseller
demographic
UnansweredQuestion 25
/ 5 pts
(TCO 3) The Book Promoters Association of Canada’s members recently questioned what could be done to rejuvenate the Canadian book publishing industry. Some members claimed the problem was that Canadian retailers had been replaced by Walmarts. Others said the problem was with stodgy promotions. Still others said the problem was caused by too little money being budgeted to fund marketing programs. It was time that Canadian book publishers used _____ to save the industry.
advertising
sales promotion
publicity
marketing research
tactical support
UnansweredQuestion 26
/ 5 pts
(TCO 3) DirectProtect is an insurance provider that uses telemarketers, rather than insurance agents, to sell its insurance and to deal with claims. It wants to introduce its product into new markets, but before it does so, it wants to have a prediction of how successful its sales efforts will be. One of the first things researchers did was to invite a group of eight people with insurance to talk about home and auto insurance with a moderator. One of the purposes of this exploratory research was to gather information about the group members’ attitudes toward insurance and their awareness of DirectProtect. Although additional research still needs to be done, the marketing researchers were able to use a focus group to gather _____ data.
hypothetical
generative
questionnaire
evaluative
experiential
UnansweredQuestion 27
/ 5 pts
(TCO 4) Sara Burns is the owner of a company called Spice and was looking for a new product to go with her company’s line of food condiments when a customer suggested combining spices with tea. This is an example of
accidental invention.
idea generation.
bootlegging ideas.
serendipitous management.
serendipitous innovation.
UnansweredQuestion 28
/ 5 pts
(TCO 4) A few years ago, Who Wants to Be a Millionaire premiered as the first nighttime game show in a couple of decades. Once the show became a hit and televised several nights a week, other networks quickly created their own version of what they hoped to be a successful game show format. Greed and Twenty-One are the names of but two of the new shows that were created to compete with Who Wants to Be a Millionaire. At this point in time, the nighttime televised game show genre entered which stage of its product life cycle?
Growth stage
Decline stage
Commercialization stage
Maturity stage
Introduction stage
UnansweredQuestion 29
/ 5 pts
(TCO 7) In an episode of the Andy Griffith television series, two local farmers were selling the produce they grew on their farms from the backs of their pickup trucks to local people who drove by on the road. The farmers selling their products without wholesalers or retailers were an example of a
roadside channel of distribution.
traveling channel of distribution.
intermediate channel of distribution.
informal channel of distribution.
direct channel of distribution.
UnansweredQuestion 30
/ 5 pts
(TCO 6) Disney is using an integrated marketing communications program (IMC) to promote group travel to its theme parks, because
its strategy includes using all types of promotional activities that deliver a consistent message.
it does not want to reach any member of its target audience more than once.
IMC is less expensive than other forms of promotion, such as public service announcements.
if it didn’t, Disney would have to use indirect personal selling.
it is more concerned about frequency than reach.
UnansweredQuestion 31
/ 5 pts
(TCO 6) The local radio station broadcast a story about the dry cleaners that requested coat donations. They would clean the coats and deliver them to people in need. The various addresses of the dry cleaner chain were also broadcast so that donations could be dropped off. Because this featured business did not pay for this exposure, it is benefiting from
publicity.
advertising.
direct marketing.
personal selling.
a public service announcement.
UnansweredQuestion 32
/ 5 pts
(TCO 1) Assume that McDonald’s is engaging in a market penetration strategy. Which of the following actions best illustrates a market penetration strategy?
Opening the first McDonald’s in China
Developing a line of McDonald’s toys to be sold through Toys”R”Us stores
Adding a line of new deli sandwiches to the menu of existing McDonald’s stores
Running a promotion based on the Monopoly game, whereby customers have a chance to win prizes with each purchase
Removing slow-moving products from its menus
Question 33
/ 30 pts
(TCO 1) Imagine that you are creating a marketing plan for a company that will sell motor scooters. As you consider the marketing program, what types of strategy should you consider including in the plan? Propose one specific example of each type of strategy that you are considering, and present your rationale (reasoning) for your strategy selections.
Question 34
/ 30 pts
(TCO 1) In China, many people are removing their money from the state banks and lending it out themselves. The interest rate earned in a state bank account is about one half the rate of inflation. On the other hand, loaning money to friends, relatives, and even unrelated entrepreneurs can often earn the investor double or more over the inflation rate. The gray market, an underground network of investors and private businesses, moves the cash from lenders to businesses. Judge whether marketing occurred in this situation, and justify your conclusions. Appraise the effectiveness of government regulation in controlling markets.
Question 35
/ 30 pts
(TCO 4) Managing the product through successive stages of the product life cycle is an important role for a product manager. Assess the three ways to manage a product through its life cycle, including examples to help clarify your assessment. Indicate the reasoning why you would prefer one method over another in a given situation. You can use any product in your examples.
