Final exam mkt 220 basic marketing concepts

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Final Exam • Question 1 2 out of 2 points Of the following choices, which would be the easiest brand name to legally protect? • Question 2 2 out of 2 points A product mix is best described as • Question 3 2 out of 2 points To make intangible products more tangible or real to the consumer, marketers often • Question 4 2 out of 2 points The Anderson Advertising Agency was developing a name for their client’s new paper towel product. They finally settled on the name, “Soaker.” Regarding the factors that marketers consider when selecting a brand name, which one does this best fulfill? • Question 5 2 out of 2 points Sales usually start to decline during the ____ stage of the product life cycle. • Question 6 2 out of 2 points Which of the following statements about nonprice competition is false? • Question 7 0 out of 2 points Price is considered to be the variable in the marketing mix that is • Question 8 2 out of 2 points One advantage of nonprice competition is that • Question 9 2 out of 2 points Sony management decided to use skimming as a pricing strategy for its newest line of high-definition television (HDTV) sets. It should be aware that this strategy doesnot • Question 10 0 out of 2 points When a company that produces computer printers prices them somewhat low, but the ink required to operate the printer is priced higher per relative usage, it is using • Question 11 2 out of 2 points Paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation is • Question 12 2 out of 2 points Latisha works for a promotional consultant who develops sweepstakes, games, coupons, and rebate plans for various marketers. Latisha is developing which of the following? • Question 13 2 out of 2 points Chris sees a television commercial for Arby’s promoting its roast beef sandwiches at 5 for $5.95. Later that day he goes to the nearest Arby’s for a roast beef feast, but is told that the special offer is not available at that location. Arby’s seems to lack • Question 14 2 out of 2 points The Sharper Image likes to use nonpersonal communication in news story form such as press releases for its new and improved products. This is an example of • Question 15 2 out of 2 points A major benefit of using event sponsorship is that it • Question 16 2 out of 2 points Children often achieve ____ by observing parents and older siblings in purchase situations and then through their own purchase experiences. • Question 17 2 out of 2 points A major determining factor in deciding which type of problem-solving process should be used depends on the individual’s intensity of interest in a product and the importance of the product for that person. This is known as an individual’s • Question 18 2 out of 2 points The three major categories of influences on the consumer buying decision process are: • Question 19 2 out of 2 points In a period of economic recovery, the best marketing strategy for FedEx would be characterized by which of the following features? • Question 20 2 out of 2 points Many aspects of consumer buying decisions are affected by the individual’s level of involvement. Level of involvement is • Question 21 2 out of 2 points If Hefty Bags expresses concern that its products are having too great an impact on the pollution of ground water under landfills, this concern is directly related to the firm’s • Question 22 2 out of 2 points In testing her firm’s new TV ads for Pokémon action figures, Beth discovers the ads make children think many of the action figures can actually fly. Beth now faces an ethical decision regarding which element of the marketing mix? • Question 23 2 out of 2 points Sometimes business must find a balance between society’s demand for social responsibility and investors’ desires for profits. This is an example of a(n) ___________ responsibility. • Question 24 2 out of 2 points Cameron Inc. is a very profitable automobile repair shop. The company is well known for its great service and involvement in the community, but it fails to properly dispose of its used oil as outlined in environmental regulations. Cameron is failing in its ______ responsibilities. • Question 25 2 out of 2 points The Browardton Quilters’ Guild has contacted all the major networks to try to warn people about the poor performance of miniature, hand-held sewing machines. These quilters are engaging in • Question 26 0 out of 2 points The undifferentiated targeting strategy for finding a target market will likely not be successful if • Question 27 2 out of 2 points A business advantage of the concentrated targeting strategy for any company is that it • Question 28 2 out of 2 points A targeting strategy in which an organization directs its marketing efforts at several segments is called a(n) ____ targeting strategy. • Question 29 2 out of 2 points Segmentation variables are usually grouped into four categories: • Question 30 2 out of 2 points The ProMark Company manufactures a pencil that is about five inches long and has no eraser. It sells the product primarily to golf courses and universities. What type of targeting strategy is the ProMark Company using? • Question 31 2 out of 2 points The forces of the marketing environment primarily affect marketers in three ways: They influence customers by affecting their lifestyles and preferences for products; they determine whether or how a marketing manager can perform certain marketing activities; and they • Question 32 2 out of 2 points The equation a buyer applies to assess a product’s value is • Question 33 2 out of 2 points The focal point of all marketing activities is • Question 34 2 out of 2 points Marketing is the process of • Question 35 2 out of 2 points Making modifications to packaging or brand names involves the ____ component of the marketing mix. • Question 36 2 out of 2 points Consumers buying products online have dramatically affected the ____ variable of the marketing mix. • Question 37 2 out of 2 points Which of the following is most likely to be an idea marketer? • Question 38 2 out of 2 points Boca Burger’s website features information about products, recipes, and nutritional values, but customers cannot actually purchase products from the website. This website is most likely used primarily as a ____ marketing tool. • Question 39 2 out of 2 points The definition of marketing implies that ____ should receive benefits from exchange relationships. • Question 40 2 out of 2 points When Ikea showcases rooms of furniture on its website, it lists each item in the room. However, if customers like all of the items, they can purchase them as a bundle. Which of the following aspects of the marketing mix is Ikea likely altering? • Question 41 2 out of 2 points In managing customer relationships, the three primary ways profits can be obtained are by • Question 42 2 out of 2 points Marketing managers strive to develop a marketing mix that • Question 43 2 out of 2 points The application of mechanical and human efforts to either people or objects to provide intangible benefits to customers is known as a(n) • Question 44 2 out of 2 points The three basic forms that a product can take are • Question 45 2 out of 2 points Which of the following scenarios involves the distribution element of the marketing mix? • Question 46 0 out of 2 points The advertising campaign for Crest toothpaste lets consumers know about its newest flavor, and also mentions its history as an established brand. The ad also mentions Crest’s advantages and benefits. Crest’s advertising would be classified as • Question 47 0 out of 2 points Soft drink companies advertise that their products beat the competition in national “taste tests,” and they refer to the rival brands by name. This type of advertising is best described as • Question 48 2 out of 2 points The two major types of product advertising are • Question 49 2 out of 2 points The cost per thousand (CPM) indicator shows • Question 50 2 out of 2 points Toyota’s sponsorship of a major Professional Golf Association tournament would be an example of a(n) ____ tool.

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