MKT 291 Exam 2

question

One argument for protectionism is that it
answer

helps defend a nation’s political security.
question

Tariffs serve primarily to
answer

raise prices on imports.
question

__________ decides on trade disputes between members across the world, and issues binding decisions.
answer

the WTO
question

__________ has resulted in more open borders, allowing French tire maker Michelin to close 180 of its European distribution centers and it now uses just 20 to serve all EU countries.
answer

the EU
question

Proctor & Gamble markets its popular multipurpose cleaner as Mr. Clean in North America and Asia but uses several different brand names like Maestro Limpio and Mr. Proper in other parts of the world. These differences arise because P&G is a(n) __________ firm.
answer

multinational
question

Which of the following statements about global brands is most accurate?
answer

A global brand uses the same product formulation or service concept across multiple countries and cultures.
question

The fact that American women use more cosmetics than American men while French men use twice as many cosmetics as French women is an example of differences in the nations’
answer

customs
question

Once a company has decided to enter the global marketplace, it must select a means of market entry. As the firm moves from exporting to direct investment, the amount of financial commitment, risk, marketing control, and profit potential__________.
answer

increases
question

Governments such as China’s may require or strongly encourage a(n) __________ before it allows a foreign company to enter its market.
answer

joint venture
question

When companies price their products very high in some countries but competitively in others, they face which problem?
answer

a gray market
question

Marketing research is the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and __________.
answer

recommending actions
question

The first step in the five-step marketing research approach is to
answer

define the problem
question

In marketing research, the research objectives are the __________ goals of the decision maker.
answer

specific and measurable
question

In a marketing decision, __________ are likely to be restrictions on the time and money available to solve the problem.
answer

constraints
question

A company is interested in producing self-stick decorative posters. It selects a representative sample of middle school students who currently have one or more standard posters on their walls. After interviewing them and collecting other relevant data, the firm then makes generalizations about what all middle school students want in their posters. The method used is
answer

statistical inference
question

When a marketing researcher uses a collection of reports, customer letters, financial statements, and surveys from different departments within her firm, she is using
answer

internal secondary data
question

Which of the following is a form of secondary data?
answer

company sales reports
question

An advantage of using a panel for marketing research is
answer

researchers can take successive measurements of consumers to determine if they change their purchasing behaviors over time.
question

The last step in the marketing research approach is to
answer

take marketing actions
question

Asking the firm’s salespeople to estimate sales during a coming period is referred to as
answer

a salesforce survey forecast.
question

A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’ needs and is received in exchange for money or something else of value is referred to as a(n)
answer

product
question

Which of the following is considered a durable good?
answer

a lamp
question

Services are
answer

intangible activities or benefits that an organization provides to satisfy consumers’ needs in exchange for money or something else of value.
question

Consumer products are classified based on the: (1) attributes used in making the purchase decision; (2) frequency of purchase; and (3)
answer

effort the consumer spends on the decision
question

Products that the consumer does not know about or knows about but does not initially want are referred to as
answer

unsought products
question

When a manager at Target announced to customers, “There is no wait in checkout lanes 2 and 5,” he recognized a need to manage his
answer

idle production capacity
question

Which of the following products at the time of their introduction was the best example of a continuous innovation?
answer

Blu-Ray player
question

Ideally, before a new product is developed, a firm should have a precise protocol, which is a statement that identifies: (1) what the product will be and do to satisfy consumers; (2) specific customers’ needs, wants, and preferences; and (3) __________.
answer

a well-defined target market
question

Research shows that __________ is the single most important factor for a new product to defeat competitive ones—having superior characteristics that deliver unique benefits to the user.
answer

a distinctive point of difference
question

In the new-product development process, the __________ stage involves specifying the product features and marketing strategy along with making financial projections needed to bring it to market.
answer

business analysis
question

All products sold by the Tabasco Company use the Tabasco brand. This is an example of __________.
answer

multiproduct branding
question

When selecting a brand name, it should: (1) suggest product features; (2) be memorable, distinctive and positive; (3) fit the company or product image; (4) have no legal or regulatory restrictions; (5) __________; and (6) have favorable phonetic and semantic associations in other languages.
answer

be simple and emotional
question

__________ begins with new-product purchases first by innovators, and then by early adopters.
answer

Diffusion of innovation
question

Profit margins often peak as competitors enter the market and aggressive pricing strategies take hold. This happens during which stage of the product life cycle?
answer

growth
question

Profit margins often peak as competitors enter the market and aggressive pricing strategies take hold. This happens during which stage of the product life cycle?
answer

growth stage
question

When a brand name cannot be spoken, it is considered a __________.
answer

logo
question

An extended introduction stage of the product life cycle occurs for which type of product?
answer

high-learning
question

Skimming or penetration pricing are appropriate pricing strategies during the __________ stage of a product’s life cycle.
answer

introduction
question

The seven Ps of services refer to an expanded marketing mix for services that includes the four Ps (product, price, place, and promotion) as well as
answer

people, physical environment, process
question

Harvesting is an option for a product in the __________ stage of its product life cycle.
answer

decline
question

Integrated marketing communications (IMC) is
answer

the concept of designing marketing communications programs that coordinates all promotional activities to provide a consistent message across all audiences.
question

For a message to be communicated effectively, the sender and receiver must have a mutually shared __________.
answer

field of experience
question

Mass selling refers to
answer

advertising, sales promotions, and public relations activities that are used with groups of prospective buyers.
question

At which stage in the product life cycle would a company’s promotional objective most likely be to increase the level of consumer awareness?
answer

introduction
question

Cake mix is in the maturity stage of its product life cycle. A manufacturer selling cake mixes would most likely use advertising to
answer

remind buyers of the marketer’s and its brand’s existence.
question

What is the promotional objective of the decline stage of the product life cycle?
answer

phase out
question

Which of the following occurs during the planning stage of the promotion decision process?
answer

set the budget
question

After reading the daily newspaper, the restaurant owner of Zefferelli’s Tower of Pizza said, “I see that the owner of Fellini’s House of Noodles ran a quarter-page ad in today’s paper. We’ll have to match his efforts by running our own ad the day after tomorrow.” Based on this statement, what promotional budgeting technique is the Zefferelli’s restaurant owner most likely using?
answer

competitive parity budgeting
question

Which of the following statements regarding direct marketing is most accurate?
answer

Many customers believe direct marketing saves time, is entertaining, and offers privacy.
question

Factors such as the need for improved reliability and security in postal systems and new government regulations represent important challenges for __________ in the global market.
answer

direct marketing
question

Comparative advertising is one form of __________ advertising.
answer

competitive
question

Which of the following is a potential problem when using humorous appeals in advertising?
answer

Humor tends to wear out quickly, boring the consumer.
question

Reach refers to
answer

the number of different people or households exposed to an advertisement.
question

One of the disadvantages associated with television as an advertising medium is that it
answer

has a perishable message
question

Which of the following statements regarding newspaper as an advertising medium is most accurate?
answer

National ad campaigns for major advertisers like P&G rarely use newspapers unless it is in conjunction with local distributors of their products, such as when they use cooperative advertising.
question

Click fraud refers to
answer

the deceptive clicking of ads solely to increase the amount advertisers must pay.
question

Continuous scheduling would most likely be used for advertising __________.
answer

chewing gum
question

Using radio ads in one market and television ads in another and comparing the results is a form of __________.
answer

sales test
question

For marketers, the primary objective of a premium is to
answer

encourage customers to return frequently or to use more of the product.
question

National sales meetings sponsored by the manufacturer and field visits to a reseller’s location to inform and motivate salespeople to sell the products are considered forms of
answer

salesforce training

Get instant access to
all materials

Become a Member