bam__511__final_exam

Question # 00003001 Posted By: expert-mustang Updated on: 10/31/2013 12:09 AM Due on: 10/31/2013
Subject Marketing Topic Marketing Tutorials:
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Publisher:
Prentice Ha.i

BAM511

Text: Marketing Management
13th Edition, 2r:)f:
ISBN-10: 0136000980
Authors:
Philip Kotler ano KeVT Keller


Multiple Choice Questions (Enter your answers on the enclosed answer sheet)
A(n) need is one that motivates the consumer but that the consumer is reluctant or unwilling to explicitly verbalize.
real
delight
unstated
secret
stated
The is practiced most aggressively with unsought goods, goods that buyers normally do not think of buying, such as insurance, encyclopedias, and cemetery plots.
production concept
product concept
sell i ng concept
marketing concept
holistic marketing concept
The strength of the depends on the mutually profitable business relationships built by the company and its supporting stakeholders.
sales network
supply chain network
integrated network
marketing network
holistic union
4) activities include those the company undertakes to make the product accessible and available to target customers.
Consumer behavior
New-product development
Market segmentation
Marketing research
Channel
Julia hates smoking and is willing to pay an extra tax just to help eliminate smoking in her city. She is exhibiting with respect to smoking.
latent demand
declining demand
negative demand
nonexistent demand
unwholesome demand

When Volvo runs advertisements suggesting that it is the safest car money can buy, it is engaging in which of the following forms of marketing programming?
Positioning
Public relations
Market segmentation
0) Technological
E) Service
The firm should estimate its competitors' costs and performances as _ against which to compare its own costs and performance.
challenges
standards
competition
0) moveable standards
E) benchmarks
We can say that a has three characteristics: (1) It is a source of competitive advantage in that it makes a significant contribution to perceived customer benefits; (2) it has applications in a wide variety of markets; and (3) it is difficult for competitors to imitate.
core technology
winning strategy
core competency
0) business strategy
E) strategic business unit
Most large companies consist of four organizational levels: the , the division level, the business unit level, and the product level.
strategic level
board of director level
corporate level
0) major stakeholder level
E) management team level
10) Which of the following terms matches to the phrase "it is a single business or collection of related businesses that can be planned separately from the rest of the company"?
growth busi ness unit
diverse business unit
specialized business unit
0) niche market unit
E) strategic business unit
When a customer places an order at BookBox.com, the company processes the customer's payment information, sends the order to the nearest ware house, and ships the order via Fed Ex. This is best described as the
new-offering realization process
customer acquisition process
customer relationship management process
0) fulfillment management process
E) market-sensing process
12) Through its cutting-edge point-of-sale inventory management technology and highly efficient shipping practices, Wal-Mart is able to keep its inventory and logistics costs extremely low and to pass these cost savings on to consumers in the form of low prices. Wal-Mart's strategy is best described as _
overall cost leadership
integrative growth
differentiation
0) market development
E) focus
13) According to the 2000 census, the U.S. population of 276.2 million was 72 white and African American. The remainder consisted of Hispanic Americans and other minorities.
11
13
15
0) 18
E) 20
14)Consumer expenditures are affected by _
savings
credit availability
debt
0) all of the above
E) none of the above
15) Today, corporations need to make sure that they are good corporate citizens and that their consumer messages are honest in order to positively align themselves with consumers'
views of the universe
views of organizations
views of themselves
0) views of society
E) views of others
16) Elance.com is a service provider that allows contractors to describe their level of satisfaction with subcontractors. This is an example of a(n) _
A) customer complaint site
combo site offering customer reviews and expert opinions
public blog
0) independent customer goods and service review forum
E) distributor or sales agent feedback site
17) In response to the U.S. income distribution trend toward , Levi- Strauss introduced premium Levi's Capital E line to upscale retailers and the less-expensive Levi Strauss Signature line to mass-market retailers.
low and high incomes, with a shrinking middle income segment
very low and very high incomes
very low incomes
0) mostly low incomes
E) mostly medium incomes
18) William rose rapidly in his organization and was the youngest CEO in the company's history. William would be characterized as a _
reaper
taker
seeker
0) maker
E) preserver
19) If a marketing researcher wished to reach people who wouId not give personal interviews or whose responses might be biased or distorted by the interviewers, he or she should choose the as the best way to reach people.
focus group interview
online interview
mail questionnaire
0) cell phone interview
E) telephone interview


20lThe phase of marketing research is generally the most expensive and the most prone to error.
data collection
research objectives
questionnaire design
research planning
interview design
21) According to marketing consultant Pat LaPointe, the measurement pathway of the marketing dashboard reflects what marketers know about sales volumes, the marketing cost per unit sold, and where and how margin is optimized.
customer metrics
unit metrics
productivity metrics
cash-flow metrics
brand metrics
There are several methods for assessing market potential. Which of these methods do business marketers prefer?
Brand-development index method
Purchase-profitability index
Market-test index
Multiple-factor index method
Market-bui Idup method
23) As one marketing executive noted, are " ... the most cost-effective, quickest, dirtiest way to get information in rapid time on an idea."
scanners
in-store interviews
surveys
tele-us machines
focus groups
24) If a questionnaire says "Small college classes are better places to learn ef fectively: (choose) 1_ Strongly disagree, 2 _ Disagree, 3_ Neither agree nor disagree, 4_ Agree, 5_ Strongly agree," the researcher would be using which of the following to discover data?
Thematic Appreciation Test (TAT)
Dichotomous question
Semantic differential
Likert scale
Multiple choice

25) is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives.
Failure avoidance rate
Perceived usefulness
Customer-perceived value
0) Report rating
E) Competitors' market share rat
26) Typically, gains the most benefit from introducing a frequency program.
the fast follower, who is second to introduce a frequency program in an industry,
the first company to introduce a frequency program in an industry
the industry sales leader
0) the low-cost leader in the industry
E) the niche player in the industry
27) A would contain such items as past volumes, prices, profits, buyer, status of current contacts, and an assessment of competitive strengths and weaknesses.
contact list
customer mailing list
general corporate database
0) business database
E) customer database
Using his company's allows a telemarketer to respond to customer inquiries more effectively because he or she can see a total picture of the customer relationship.
data warehouse
corporate database
call back list
0) call rejection list
E) Better Business Bureau contacts
29)AII of the following are examples of the perils of CRM EXCEPT _
implementing CRM before creating a customer strategy
assuming more CRM technology is better
stalking, not wooing, customers
the enormous cost that might eventually drain significant profits from the organization
rolling out CRM before changing the organization to match


30) People choose proaucts that reflect and communicate their role and actual or desired in society.


A) attitudes
B) group
C) bel iefs
D) feelings
E) status
31)

portrays the "whole person" interacting with his or her environment.

Subculture
Attitude
Reference group
Lifestyle
Culture
32) Anne prefers Yoplait strawberry yogurt over other brands. When she decides to try a different flavor, she picks another Yoplait yogurt because she believes that, if the strawberry flavor is good, other Yoplait flavors must be good as well. This behavior is best described as _
general ization
heuristic thinking
discrimination
associative networking
self-actualization
33)Marketers who target consumers on the basis of their believe that, with appeals to people's inner selves, they can influence purchase behavior.
sophistication
time famine
core values
social class
opinions
34) can work to the advantage of marketers with strong brands when consumers make neutral or ambiguous brand information more positive.
Selective distortion
Selective choice
Selective attention
Selective embellishment
Selective retention

35) Ultimately, the amount of steel sold to General Motors depends on the consumer's demand for GM cars and trucks. From the standpoint of the steel manufacturer, which of the following demand forms is most pertinent?
I nelastic demand
Static demand
Relational demand
Derived demand
Geographic demand
36) In order to successfully develop customer reference stories, firms should
use very few direct customer quotes
state the customer's needs in compelling terms
describe the company's solution in terms of products and services
avoid referencing the barriers to satisfying customer needs
focus on qualitative results
37) Xerox offers a approach to prospective clients when it offers a complete turnkey solution, including the operation and management of the client's information and communication need.
direct buying
supply buying
pri mary buyi ng
systems buying
co-op buyi ng system
38) Using the form of solution selling, w.w. Grainger employees work at large customer facilities to reduce materials-management costs.
solutions to reduce customer costs
solutions to decrease customer risks
solutions to alter corporate culture
solutions to enhance customer revenues
sol utions to partnerships


39) The closest re'a:,onships between customers and suppliers arise when
there are many undifferentiated vendors in the marketplace
supply is important to the customer
procurement is simple
0) the customer is highly price sensitive
E) all of the above
40) The argument for marketing is that it creates the largest potential market, which leads to the lowest costs, which in turn can lead to lower prices or higher margi ns.


A) differentiated
B) macro
C) mass
0) niche
E) micro
41)A consists of two parts: a naked solution and discretionary options.
flexible market offering
differentiated market offering
vertical market offering
0) rigid market offering
E) horizontal market offering
42) Rock band Foo Fighters created a digital street team that sends targeted e-mail messages to members who receive exclusive news, previews, and opportunities to win prizes. The Foo Fighters are using to reach Generation Y.
online buzz
computer games
unconventional sports
0) cool events
E) student ambassadors
43) A company can be said to have used if the company distinguished among customers ouying on the basis of price, service, and quality.
global segmentation
microsegmentation
strategic segmentation
0) macrosegmemation
E) short-term segmentation


44) During which step of the segmentation process would the marketer group customers into segments based on similar needs and benefits sought by the customer in solving a particular consumption problem?
Step 6 segment "acid test"
Step 2 segment identification
Step 7 marketing-mix strategy
Step 1 needs-based segmentation
Step 3 segment attractiveness
45) Three pillars that point to the brand's future value, rather than just reflecting its past, are differemiation, energy, and relevance. Differentiation, energy, and relevance combine to determine what is called brand _
strength
image
depth
knowledge
position
46) According to the BRANDZ model of brand strength, brand building involves a sequential series of steps. Which of these steps would address or answer the question "Do I know about it?"
relevance
advantage
bonding
presence
performance
47) All of the following are considered to be among the "six brand building blocks" EXCEPT _
brand performance
brand pride
brand feelings
brand imagery
brand salience
48) Brand names are not the only important brand element. Often, , the more important it is that brand elements capture the brand's intangible characteristics.
the less concrete brand benefits are
the more concrete brand benefits are
the more varied brand perceptions are
the more sophisticated brand benefits are
the less varied brand perceptions are


49) Marketers C" ':'umain Dew created the multi-city Dew Action Sports Tour where athletes compete in skateboarding, MBX, and freestyle motocross events to establish a meaningful with its 12-24-year-old target market.
brand asset
internal brand
brand salience
brand element
brand contact
50) To achieve a ooint-of-parity (POP) on a particular attribute or benefit, a sufficient number of consumers must believe that the brand is " " on that dimension.
good enough
neutral
marginal
most excellent
service based
51) Which of the following common product life-cycle patterns would be characterized as being one where sales grow rapidly when the product is first introduced and then fall to a "petrified" level that is sustained by late adopters buying the product for the first time and early adopters replacing the product?
Cycle-recycle pattern
Inverse-cycle pattern
Scalloped pattern
Reverse-cycle pattern
Growth-slump-maturity pattern
52) In the decline e-rase of the product life cycle, if a firm "milks" the firm's investment to recover cash quickly, it is using a strategy called _
abandonment
harvesting
position i ng
psychological divestment
reverse engineer ng
53) While looking a series of special-case product life cycles, you observe that one of the life cycles has had a rapid growth in sales resulting in a severe peak of the sales curve to.rowed by a rapid decline. Which of the following product life-cycle curves IS most likely represented by the above illustration?

Style I ife cycle
Niche life cycle
Techno life cycle
Fad life cycle
F ash ion life cyc Ie
54) As an entrepreneur you have decided to launch two products simultaneously to capture two different parts of the market. You are employing a(n) _
single-niche strategy
multiple-niche strategy
standardization strategy
adaptive strategy
mass-market strategy
55) A segment is unattractive if the company's suppliers are able to raise prices or reduce quantity supplied. Which of the following is the best illustration of the threat of suppliers' growing bargaining power?
McDonald's is the .argest fast-food franchise and is still growing.
Sears unsuccessfully attempted to compete with Wal-Mart and Kmart.
Wal-Mart has almost no competitors in its marketspace.
Oil companies rrust purchase a significant amount of their product from OPEC.
The U.S. Post Office has merged package operations with Fed Ex.
56) A firm that IS willir-g to maintain its market share and not rock the boat is known as a _
market entrant
market nicher
market leader
market challenger
market follower
57) defense Involves occupying the most desirable market space in the minds of the const.rners, making the brand almost impregnable.
Mobile
Preemptive
Position
Flank
Contraction


58) All of the :c : "'Ig are considered market follower strategies EXCEPT
imitator
adapter
innovator
0) counterfeiter
E) cloner
59) When a buyer thinks of performance running shoes, the first name that comes to mind is Nike. Ir this example, Nike has a high _
share of mind
share of innovation
share of heart
0) share of pocketbook
E) share of marker
60) Most products can be offered with varying that supplement its basic function.
reliability
features
forms
0) conformance qualities
E) none of the above
61) Companies normally develop product lines rather than single products and require sellers to establish quality differences between price steps within the line.
monetary
imaginary
perceived
0) actual
E) none of the aoove
62)Many sellers offer either general or specific guarantees. Guarantees reduce the buyer's risk.
perceived
real
implied
0) stated
E) actual

63) If the Porsche 911 IS designed to accelerate to 60 miles per hour within 10 seconds, and every Porsche 911 coming off the assembly line does this, the model is said to have high _
durability
reliability
conformance quality
style
repairability
64) Services cannot be seen, tasted, felt, or heard before they are bought. To reduce uncertainty, buyers will look for evidence of quality. They will draw inference about quality from place, people, and price they see. Therefore, the service provider's task is to " "
provide high tOUC'l, high price
manage the evidence
communicate value
go full speea aneaa
none of the above
65) There is a(n) where consumer perceptions on a service dimension would be deemec satisfactory, anchored by the minimum level consumers would be willing to accept and the level that customers believe can and should be delivered.
value definition
zone of tolerance
empathy
zone of forgiveness
perceived forgiveness
66) A service company can differentiate itself on three levels. The first is reliability, the second s res.lienee, and the third is _
assuredness
employees
teamwork
innovativeness
none of the aoove
67) Charles Schwab's best customers get their calls answered in 15 seconds; other customers can wait longer. This is best described as _
standardiz _ ,_ service-performance process
raising service levels to retain the patronage of profitable customers
customer empowerment through the Internet
fair play in service delivery
increasing cor-s.i+ sr oarticipation


68) Purchase decisions are based on how consumers perceive prices and what they consider to be the , not the marketer's stated price.
referent price
last purchase: ~ Ice
current sale price
current actual pr ce
none of the above
69) Pricing cues Such as sale signs and prices that end in 9 become more influential when _
consumer price k-iowledge is poor
items are purchased frequently
items have beer 0" the market a long time
they are employea freauently
prices are cons.ster t year-round
70) Pricing methods narrow tne range from which the company selects its final price. In selecting t~at price, the company must consider additional factors, including the rrnoact of other marketing activities, company pricing policies, gain-and-risk-snarmg pricing, and the impact of price on _
marketing act v t.es
channels of c str J _ Lon
channel partners
other parties
none of the above
71) A major crrcurnsta=ce orovoking price increases is _
cost inflation
profitability versus target
stock price versus target price
price versus COlT le- : Or]
market demanc

72) Channel objectives should be stated in terms of service output levels.
efficient
affordable
budgeted
targeted
none of the above
73) By granting , the producer hopes to obtain more dedicated and knowledgeable se I' ng.
exclusive distribution
extensive distribution
selective distribution
random distribut or
intensive d istn bution
74) Manufacturers are constantly tempted to move from exclusive or selective distribution to more Intensive distribution in order to _
enter the market
leave the market
decrease coverage and sales
increase coverage ard sales
none of the aoove
75) The sales of your product are low compared to your competition. The decision facing you S wnetner to use a sales agency (brokers, manufacturers' representatives) or ,- 'E a fielo sales force. The fixed costs of engaging a sales agency are lower tnan those of establishing a company sales force, but costs rise faster through an agency. When figuring out sales and costs, the intersection of the costs between sales agencies and sales force (SB) means that
the sales age"'c) s me Detter cnoice for any sales volume below this point
the sales agency is the better choice for any sales below this point
above SB means mat the comoany's costs escalate
the sales force s the better choice for any sales volume below this point
both choices are eq.,a ,y gooa choose the one that you are most comfortable with
76) measures a product’s handling costs from the time the product reaches the warehouse until a customer buys it in the retail store..
Direct proc.. . .,.::e analysis
Profitab.. _ )",IS
Brand management
Direct product proftability analysis
Shelf management

77) refers to buying large carload lots and dividing them into smaller units before shipping them out to consumers.
Containerizatior
Warehousing
Market logrs: ,>
Wholesaling
Bulk breaking
78) At some stock level point, management must reorder product to refill the inventory to an acceptable level. This “point” is called the ________. _
inventory carryi ng costs
minimum inventory level
order (reorder) point
inventory
none of the above
79) As a marketing intern, your job is to “hang out at the mall” and note the percentage of people who enter a particular store versus those who pass by it. This is an example of ________ for retailers..
measuring censu-r-er shopping patterns
measuring retail sales effectiveness
measuring (lril!cr- SS"11ert effectiveness
measuring reta .ocanons
measuring too: .raft:c at the mall
The hierarcr y-ct-e+ects model contains awareness, knowledge, liking, ___ , co',\' ::'I un ana purchase.
attitude
cognitive response
preference
interest
none of the acove

81) he two-step fl ow of information challenges the notion that consumptionstyles ________ a “trickle-down” or “trickle-up” effect from mass media.
originate with
are affected by
start with
are primarily innuenced by
are secondarily Influenced by
82) An effectively trained company sales force can make four important contributtons. enthus asrr b., ding, missionary selling, key account management, and _
increased stock position
customer co-r ac-s
relationshio sel i'lg
account manage r.er t
direct sales co uacts
83) Cornrnunicat or s-rr x allocations vary between consumer and business markets. Consu-ner r~arKeters tend to spend comparatively more on sales promotion and adverris 19 oi.siness marketers tend to spend comparatively more on
word-of-mol t,., rrarkering
personal selling
events and en2rl2 ces
direct market 19
interactive marketing
84) In decidirg C' 2r ad c.icget, marketers must recognize that consumer response can Sf. -snaped An ad threshold effect exists where some positive amount of advertising is necessary before any sales impact can be detected, ou: sales .creases eventua Ily flatten out.
C
M
S
Y
T
85) The higher ~'1e associated with a brand, product category, or message, the h grer :he warranted level of repetition.
total number of exoosures
target audience rr-ecia 'iabits
impact
forgetting rate
reach


86) A company has to decide on how to allocate its advertising budget over space as well as over time. A company makes “spot buys” when it buys TV time in just a few markets or in regional editions of magazines. These markets are called ________.
SMSA
trading are=,
areas of dominant influence
short-term rnarxet.ng opportu n rties
none of the above
87) Although outdoor advertising has limited audience selectivity, it ________. _
is subject to low competition
is very expensive
offers low repeat excosure
is highly inflexible
all of tne above
88) Direct rnarketog os=r ts the of alternative media and messages in search of the rr ost cost-effective approach.
accent
testing
use
outsourcing
implernenta.icr
89) Once the target market IS defined, the marketer needs to obtain specific names, whic ' (:2 ~ J2 obtained by purchasing a list of names. The better lists i nc I ude OVE::r aye:. ,; and information.
demographic r.r.anc.al
dernographc att 'Lees
financial; buy ng groups
demographic/psychographic
opinions; rr te cS:S
90) The term sa 2::0 reo .esentative covers a broad range of positions. We call a sales represe ~i:: Jf'- w'Jse expertise is in the solving of a customer's problem a(n) _
demand creator
order taker
missionary
solution vendor-
technician


91) Salespeople need to know how IO 'c' .:g~' ze closing signs from the buyer, including physical actions, statements or comments, and _
objections
concerns
products
actions
questions
92) The ________ technique for stimulating creativity starts with a problem, such as “getting something from one place to another via a powered vehicle,” then lists every possible combination of attributes, such as the type of platform, the medium, and the power source.
reverse assurnpt.or aoalysis
forced relations- os
a. morphological analysis

lateral market ng
attribute listing
93) A(n) ________ loses money, but its sales cover all its variable costs and some of the fixed costs
market produc. failure
relative product +2 ",re
a. partial product failure
transfer oroe Jcr a ,-,re
strategic proct.cr failure
94) The job of traos at 'lg target customer requirements into a working prototype is helped by c. Se c +ethods Known as _
marketi ng centre
R&D
quality com-e ') r;CEsses (Qi="P)
quality function Department
none of the acove
95) A(n) ________ is any good, service, or idea that is perceived as new, no matter
how long its history.
A) creative product
B) new idea
C) product
D) innovation
E) none of the above
96) A company can carry on direct exporting in several ways. These include domestic
based export department or division, overseas sales branch or subsidiary,
traveling export sales representatives, and ________.
A) export management companies
B) marketing departments based in the foreign country
C) foreign-based distributors or agents
D) export merchants in foreign countries
E) none of the above
97) In ________, the fi rm hires local manufacturers to produce the product, giving
the company less control over the manufacturing process.
A) management contracts
B) franchising
C) licensing
D) contract manufacturing
E) none of the above
98) Forces promoting global integration include ________.
A) heterogeneous demand
B) strong consumer resistance to foreign goods
C) strong local preferences
D) local standards and barriers
E) capital-intensive production
99) Strategy addresses the ________ and the ________ of marketing activities.
A) what; why
B) what; who
C) what; how
D) what; when
E) who; how
100) A company can have an excellent marketing department and yet fail at marketing. Much depends on how other company departments view custom
ers. Only when all employees realize that their jobs are to ________,
________, and ________ customers does the company become an effective
marketer.
A) create; serve; satisfy
B) create; listen; deliver
C) listen; create; satisfy
D) serve; listen; deliver
E) defl ect; monitor; listen

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