MKT/575 MKT 575 MKT575 Week 5 Final Exam - New 2015 version

1. Companies will use a __________ to contact and deliver product to the market target buyers.

New idea strategy

Product strategy

Relationship strategy

Value-chain strategy

 2. __________ consist(s) of deciding the scope and purpose of the business, the objectives and the resources necessary to achieve the objectives.

Corporate strategy

Customer relationship management

Market sensing

Business and marketing strategy

3. The role of pricing often depends on how other components such as, advertising, sales promotion and distribution in the __________ are used.

Marketing program

Financial performance

Competitive strategy

Signal to the buyer

4. A __________ name, term, design, symbol or any other feature that identifies one seller's good or service as distinct from those of other sellers.

Identity

Brand

Product

Trademark

5. The flat, flexible __________ offer several advantages in implementation, since they encourage inter-functional cooperation and communication. These types are responsive to changing conditions.

Plans

Organization designs

Communications

Incentives

6. Low prices may be used to gain sales and __________.

Achieve financial performance

Stimulate demand

Gain market share

Create product positioning

7. Whole Foods Market, Inc. provides products that appeal to middle class buyers who have strong value preferences for natural foods and are willing to pay premium prices for the products that are not often available from other grocery retailers. This group of people is Whole Foods' ______.

Brand centers

Communications group

Market target

Mass market

8. Which of these initiatives would not be part of customer relationship management?

Sales force productivity

Recall market research

Customer service and automated call centers

Automated customer contact systems

9. The ___________ is the configuration of distribution channels linking with end-users.

Distribution strategy

Digital channels

Value chain

Retail strategy

10. _________ include attitudes, brand awareness and brand preference.

Purchase behavior

Demographic variables

Use situation variables

Buyers needs and preferences

11. A PEST Analysis of the macro-environment includes a review of

Product, Economy, Segmentation, Targeting, and Loyalty issues

Political, Economic, Social, Technological, and Legal issues

Positioning, Economic, Strategy, Technological, and Loyalty issues

Product, Economic, Social, Technological, and Legal issues

12. The differences in buyers according to how they use products, the needs and preferences that the products satisfy and their consumption patterns create __________.

Market segments

One-size-fits-all

Audience management

Product differentiation

13. Defining the __________ is(are) (a) critical factor(s) that can be difficult to discern since it is easy to confuse symptoms with causes.

Performance gap

Problems and opportunities

Dashboard gap

Computer gap

14. __________ occurs when a product offering is perceived by the buyer as different from the competition on any physical or nonphysical product characteristic, including price.

Product differentiation

Routine

High-involvement

Low-involvement

15. Commercial air travel provides an interesting example also of the creation of new corporate __________ through strategic alliances, where the alliance becomes the identity such as the one world alliance, separate from the names of the two alliance partners, British Airways and American Airlines.

Strategy

Brands

Resource

Organization

16. Not acknowledging or responding to the threats and requirements of ___________ is the real danger. Even in markets assumed to be stable, innovation can quickly alter market space.

Creation of new market space

Fast changing markets

Commodization of product designs

Disruptive innovation

17. The __________ process provides an estimate of the profitability of a customer during the time span of the relationship.

Customer net sales

Customer recent profitability

Net present value

Customer lifetime value

18. ___________ offers a company the opportunity to focus its business on the requirements of one or more groups of buyers.

Corporate strategy

Strategic marketing

Market segmentation

Corporate responsiveness

19. Reasons for conducting a(n) ___________ include: starting an evaluation program, corporate restructuring, entry into new product and market areas, acquisitions and the impact of Internet-based business models.

Strategic marketing audit

Balanced scorecard

Communications plan

Internal marketing plan

20. A ___________ is described by characteristics of people including why they buy and their preferences for brands of products.

Customer relationship management system

Market segment

Strategic marketing objective

Corporate capability

21. __________ measure(s) consumers' awareness of specific ads and campaigns by asking questions to determine if a sample of people remembers an ad.

Test marketing

Longitudinal studies

Recall tests

Analyzing historical data

22. _________ provide(s) simpler and less costly ways to match the value requirements offered by the products of incumbent firms serving the market.

Disruptive innovation

Fast changing markets

Commodization of product designs

Creation of new market space

23. __________ is the process of identifying and analyzing sub-groups of buyers in a product-market with similar response characteristics.

Audience management

Product differentiation

Market segmentation

One-size-fits-all

24. _________ track(s) advertising expenditures and sales results before, during and after an advertising campaign.

Recall tests

Analyzing historical data

Longitudinal studies

Test marketing

25. BMW's __________ for the new Mini, as a life-style vehicle, included describing the care as quintessentially cool with its biggest selling point being its individualistic appeal.

Value requirements

Market targeting

Segmentation design

Positioning strategy

26. The product, distribution, price and promotion strategy components are the marketing __________.

Mix

Target

Idea

Relationship

27. A __________ seeks to have the brand own a place in the eyes and mind of the buyer and the product be distinguished from the products of the competition.

Positioning strategy

Strategic market

Market target

Customer relationship strategy

28. What defines the corporation and what provides guidelines for managing the corporation is __________?

Corporate vision

Corporate strategy

Business and marketing strategy

Customer relationship management

29. ___________ consists of planning, implementing and controlling an organization's communications to its customers and other target audiences.

Promotion

Advertising

Sales promotion

Personal selling

30. __________ consists of any form of non-personal communication concerning an organization, product or idea that is paid for by a specific sponsor. The sponsor makes payment for the communication via one or more forms of media (e.g., television, radio, magazine, newspaper, online).

Advertising

Personal selling

Promotion

Sales promotion

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  • mastersolution
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    ANSWER
    Tutor has posted answer for $23.00. See answer's preview

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    MKT575 Week 5 Final Exam.docx

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