STR 581 FINAL EXAMS 100% CORRECT ANSWERS BUY THIS ONE NOW USE AS A GUIDE ONLY

STR 581 FINAL EXAMS 100% CORRECT ANSWERS BUY THIS ONE NOW USE AS A GUIDE ONLY

1) ________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

A.  A promotional campaign

B.  A marketing research system

C.  A marketing information system

D.  A marketing intelligence system

E.  A marketing database

  

  

  

2) 3M, Hewlett-Packard, Lego, and other companies use the ________ to manage the innovation process.

A.  venture team

B.  joint- venture system

C.  stage-gate system

D.  new product “team”

E.  skunk works

  

  

     

3) ________ is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives.

A.  Customer perceived value

B.  Failure avoidance rate

C.  Perceived usefulness

D.  Report rating

E.  Competitors market share rate

       

4) A company can take several steps to improve the quality of its marketing intelligence. If the company purchases competitive products for study, attends open houses and trade shows, and reads competitors’ published reports and stockholder information, the company is using ________ to improve the quality of its marketing intelligence.

A.  advisory panels

B.  intermediaries

C.  sales force surrogates

D.  external networks

E.  customer feedback systems

       

5) A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.

A.  marketing intelligence system

B.  marketing information system

C.  marketing research system

D.  product management system

E.  vertical system

      

6) A(n) ________ is any good, service, or idea that is perceived by someone as new.

A.  new idea

B.  product

C.  innovation

D.  creative product

 

         

7) Total customer satisfaction is the general feeling of pleasure or disappointment that results from comparing perceived performance to expectations. To achieve total customer satisfaction, organizations need to_____________.

A.  Lower expectations

B.  Spend more money

C.  Develop marketing campaigns

D.  Manage customer experiences

E.  Lower prices

      

8) Particularly when shopping for ego-sensitive products such as perfumes and expensive cars, many consumers use price as an indicator of ________.

A.  capability

B.  size

C.  ability

D.  quality

E.  status

  

 

          

9) A ________ consists of a group of customers who share a similar set of needs and wants.

A.  market segment

B.  market level

C.  market slice

D.  market group

E.  market target

          

10) A firm has to consider many factors in setting its pricing policy. We list these as a six-step process. Which of the following is NOT one of these steps?

A.  Selecting the final price.

B.  Selecting a pricing method.

C.  Researching reference prices in the target market.

D.  Selecting the pricing objective.

E.  Determining demand.

    

11) A marketing manager needs to know the cost of the research project before approving it. During which step in the marketing research process would such a consideration most likely take place?

A.  Step 2—develop the research plan.

B.  Step 3—information collection

C.  Step 1—drafting the research objectives.

D.  Step 1—creating decision alternatives.

E.  Step 1—defining the problem.

     

12) Which of the following types of marketing research firms would best be described as one that gathers consumer and trade information which they sell for a fee (e.g., Nielsen Media Research)?

A.  General-line marketing research firms

B.  Non-profit marketing research firms

C.  Specialty-line marketing research firms

D.  Syndicated-service research firms

E.  Custom marketing research firms

     

13) Companies normally budget marketing research at ________ percent of company sales.

A.  6.5

B.  10 to 12

C.  4

D.  2 to 3

E.  1 to 2

              

14) The marketing communications mix consists of six major modes of communications. Which of the following is NOT one of these modes?

A.  Packaging

B.  Advertising

C.  Sales promotions

D.  Direct marketing

E.  Personal selling

          

15) The chief disadvantage to a firm that decides to follow a product specialization strategy in selecting target markets is ________.

A.  competitors can easily copy any new product introductions

B.  e-commerce becomes difficult for the company

C.  the product may be supplanted by an entirely new technology

D.  logistics can become a nightmare

E.  no synergy exists

    

16) New-to-the- world products are ________.

A.  new products that provide improved performance or greater perceived value and replace existing products

B.  existing products that are targeted to new markets or market segments

C.  new products that supplement established product lines (package sizes, flavors, and so on)

D.  new products that allow a company to enter an established market for the first time

E.  new products that create an entirely new market

  

17) Major retailer types include the following EXCEPT ________.

A.  the Internet

B.  superstore

C.  catalog showroom

D.  discount store

E.  specialty store

         

18) Marketing communications can contribute to brand equity by establishing the brand in memory and to________ (in)a brand image.

A.  create demand

B.  communicate

C.  craft

D.  create interest

           

19) Price has operated as the major determinant of buyer choice among poorer nations, among poorer groups, and with ________ products.

A.  similar

B.  over the Internet

C.  commodity-type

D.  identical

          

20) ________ communicates a company’s intended value positioning of its product or brand to the market.

 

A.  Promotion