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MKT1502QRT Final Exam – Remington College Online

Welcome to your final exam – part 2. Please answer ALL five questions listed in the exam. Each response should be a minimum of 150 words with sufficient detail to answer the question completely. A one or two sentence response will result in no points! Any references used must be properly cited in APA format. These responses must be in YOUR OWN WORDS! Do not copy and paste answers from the lesson material or verbatim from your book. Your answers will be checked for plagiarism. In addition, please be sure to thoroughly proofread your work for grammatical and spelling errors. You must submit this exam by the last day of class. NO EXCEPTIONS!

1. A successful company nurtures its resources and competencies through the choice of a marketing philosophy. What are the various core Marketing Management Philosophies? Please provide examples of a company or service that reflects each of these philosophies.

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2. Once a company decides to target a particular country, it has to determine the best mode of entry. Each of its market entry strategies involves more commitment, risk, control, and profit potential. List these market entry strategies in order from low risk to highest risk.

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3. Marketers are skilled in stimulating demand for a company’s products, but this is too limited a view of the tasks they perform. Just as production and logistics professionals are responsible for supply management, marketers are responsible for demand management. Much of this demand management depends on the “elasticity” of demand for their product. What is elasticity of demand? What factors affect the elasticity of demand?

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4. Discuss the impact that the product life cycle can have on a company’s marketing mix. Please provide examples.

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5. Discuss the pros and cons relative to the use of celebrity spokespersons as a key part of a company’s promotional mix. Please provide examples.

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Total Score:      /30

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