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Mizzou MRKTNG 3000 - Marketing3000

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Exam1Sec1 Type A 1. Which of the following involves trying to prove or support the notion that a brand delivers some benefit? a. Normative positioning b. Laddering down c. Laddering up d. Establishing category essence e. None of the above 2. According to Porter’s Five Forces model, which of the following would increase profitability? a. An increase in the number of suppliers b. A lowering of entry barriers c. A decrease in the number of buyers d. Two of the above e. All of the above (ABC) 3. Which of the following is necessary for a targeted segment to be profitable? a. The segment must respond positively to the firm’s offering b. Promotional (persuasive) communication must be able to reach the targeted segment c. The segment’s size and purchasing power must be measurable and large enough to be profitable d. All of the above e. None of the above 4. Many firms with complex products have missionary salespeople who assist customers with problems with implementation programs. These salespeople rarely sell products but often become involved in and knowledgeable about customer’s needs and wants. These salespeople focus on _______ orientation. a. Transactional b. External c. Relational d. Divisional 5. Which of the following best describes the scope (areas covered) by marketing concepts? a. Marketing is defined a “the study of persuasion,” any situation involving persuasion may be studied by using marketing concepts. b. All areas of life are covered by marketing concepts c. Marketing covers only those situations involving selling goods/services for money d. A marketing framework can be applied to a variety of exchange situations (e.g. goods for money, political ideas, job interviews, etc.) e. None of the above 6. According to class discussion, which of the following market positions is most likely to attempt an Expanded Market Strategy? a. Market nicher b. Market leader c. Market follower d. Market challengere. None of the above 7. The Four P’s comprise the ____, which in the controllable set of activities that the firm uses to respond to the wants of its target markets. a. Elements of practice b. Internal operation focus c. Needs response mechanism d. Marketing mix e. Functional marketing discipline 8. According to class discussion, which of the following statements was made about Ford’s F150 truck? a. Its only means of sales growth is through market development b. It is the top selling truck in China c. It has a greater experimental benefit than the Toyota Tundra d. It would be categorized as a “cash cow” using the BCG model e. All of the above 9. Of the 5 steps to the strategic marketing planning process, which step usually comes in the MIDDLE of the process? a. Evaluate performance b. Define the business mission c. Situational analysis d. Implementing marketing mix and resources e. Identifying and evaluation opportunities 10. In class, which of the following was used as an example of geodemographic segmentation? a. Shotguns and pickups b. Northeastern young males c. Southwestern young males d. Midwestern Hispanics e. Old, high-income Canadians 11. In many market situations, word-of-mouth referrals are a very effective source of new customers. Marketers often encourage referrals as a ____ growth strategy. a. Product proliferation b. Market development c. Market penetration d. Diversification e. Product development 12. Companies seek to develop a sustainable competitive advantage that can be maintained over a long period of time and; a. Is difficult for competitors to copy b. Can be patented or registered to protect it as intellectual property c. Will appeal to financial analysts and potential shareholders d. Will be easy for employees to use and remember e. Cannot be discovered through marketing research 13. When should one practice market segmentation? a. Always b. Never c. Only when the costs are low d. All the time except if one is trying to reach everyonee. Always except when trying to reach everyone and costs are high 14. Supply chain management involves _____ the efforts of suppliers, manufacturers, warehouses, and stores. a. Separating b. Distinguishing c. Creating back-up systems for d. Eliminating e. Integrating 15. To determine how attractive a particular market is in using the BCG portfolio analysis, _______ is established as one axis. a. Competitive intensity b. Relative market share c. Ideal market distribution d. Market growth rate e. Profit potential 16. Which of the following has been cited as an example of “customer excellence”? a. Four Seasons Hotels b. McDonald’s Restaurants c. Hasbro Toys d. All of the above e. None of the above 17. By paying close attention to customer needs and continuously monitoring the environment in which it operates, a good marketer can: a. Avoid cognitive dissonance b. Identify potential opportunities c. Implement just-in-time marketing promotions d. Divide generational cohorts into regional psychographic groups e. Relieve the rest of the organization from having to interact with customers 18. According to class discussion, what is Apple’s main macro strategy? a. User-lead development b. Goal positioning c. Competitive positioning d. Product excellence e. Marketing 19. In class, which of the following was mentioned as a segmentation type probably used for the iPod? a. User status b. Geodemographic c. Benefit d. Geographic e. All of the above 20. According to the article of positioning, which of the following is correct? a. A focus on consumers’ goals as the basis for positioning can occur only at the brand level b. There are a variety of ways to convey a brand’s category membership c. There are 3 elements that are typically included in establishing a brand’s competitive-based position d. Normative benefits are ones that customers say are important because they actually influencebehavior e. All of the above 21. Which of the following activities does NOT involve marketing? a. Purchasing gasoline b. Attending marketing class c. Downloading music d. Deciding how many hours to sleep e. Selling a CD on eBay 22. Category membership and point of difference are used to establish which of the following? a. Goal position b. Targeted market c. Competitive position d. Brand personality e. Brand credibility 23. After assessing the market growth potential for his company’s baby products in Mexico, Harmon wanted to evaluate market competitiveness. To do this, Harmon would consider: a. Mass marketing


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