MKT 546 Final

Type

Quiz

Book Title

A Preface to Marketing Management 14th Edition

ISBN 13

978-0077861063

October 29, 2015

When Lucile visited a stationery store to buy tape, she noticed that each roll of tape was

priced at $1.99. In fact, most of the prices at the store were set a few dollars or a few

cents below a round number. This indicates that the manager of the store is using a(n)

_____.

A. odd-even pricing strategy

B. bundle pricing strategy

C. prestige pricing strategy

D. premium pricing strategy

Answer:

RUV Bank, an American bank, has branches across 22 nations. Each branch has a

well-organized team of highly skilled employees. The banking corporation coordinates

all its activities by holding important meetings and conference calls. The bank has also

been successful in conducting global performance reviews and implementing global

compensation plans. Which of the following internal factors that can either facilitate or

impede a company's efforts to undertake a global approach to marketing strategies has

been illustrated in this scenario?

A. Management processes

B. Culture

C. People

D. Structure

Answer:

Anchor Investments Inc. is an investment bank that acts as a financial advisory body to

many independent asset owners. The bank acquires a high-stakes project that requires

the exclusive involvement of senior project managers. They therefore work in relative

privacy away from the rest of the organization. This alternative approach to project

management is called _____.

A. crashstakes

B. skunkworks

C. relay approach

D. rugby approach

Answer:

Heidi, the marketing manager of a cosmetic manufacturing company, decides to fix the

price of a new perfume at $89.99. She believes that the odd pricing of the product will

encourage potential buyers to think of the product as less expensive. Which of the

following factors has Heidi considered when making her pricing decision?

A. Environmental factors

B. Demographic factors

C. Economic factors

D. Psychological factors

Answer:

The _____ involves a set of controllable variables that must be managed to satisfy the

target market and achieve organizational objectives.

A. demographic profile

B. mission statement

C. organizational history

D. marketing mix

Answer:

Which of the following is a benefit of using projective techniques as a method of data

collection?

A. They are less threatening to respondents for sensitive topics.

B. They minimize the need for trained and experienced interviewers.

C. They substantially reduce the cost per interview in the research study.

D. They provide the broadest geographic dispersion for a marketing research study.

Answer:

Vet Meds is the pharmaceutical branch of a large medical research center for animals.

Vet Meds often conducts surveys at veterinary hospitals and private vet clinics to

identify potential areas for improvisation and growth. The company noted that many

domestic pet-owners reported finding it extremely difficult to give their dogs oral

medications owing to the bitter taste of the medicines, which remained even when the

medicines were mixed with food. In response to this finding, Vet Meds released oral

medicines for dogs which came in various meat flavors. Which of the following

segmentation approaches is used by Vet Meds to satisfy consumer needs?

A. Benefit segmentation

B. Psychographic segmentation

C. A priori segmentation

D. Social segmentation

Answer:

Which of the following denotes a growth direction through the increase in market share

for present product markets?

A. Market penetration

B. Diversification

C. Market development

D. Benchmarking

Answer:

In marketing information systems, database management software:

A. is used for sorting and retrieving data from internal and external sources.

B. contains routines for manipulating data in ways that are useful for marketing

decision making.

C. permits marketers to use models to produce information to address their

decision-making needs.

D. provides tools for marketers to search for meaningful trends in large sets of data.

Answer:

Which of the following is true of administered vertical marketing systems?

A. They involve a parent company and an independent firm entering into a contractual

relationship to set up and operate a business in a particular way.

B. They involve a group of independent retailers uniting and agreeing to pool buying

and managerial resources to improve competitive position.

C. They involve a wholesaler contracting with a number of retailers performing channel

functions for it.

D. They involve a high degree of interorganizational planning and management and

depend on the presence of a channel leader.

Answer:

Since nonprofit organizations are by and large prohibited from resorting to advertising,

which of following forms of publicity do they rely on such that media donates time for

advertising for contributions and donors?

A. Public service announcements

B. Sponsorship

C. Press releases

D. News conference

Answer:

From a marketing management perspective, _____ is an important nonpersonal

strategic device for maintaining a competitive advantage in the marketplace.

A. direct marketing

B. personal selling

C. advertising

D. telemarketing

Answer:

_____ handle deep assortments in a limited number of product categories.

A. Specialty stores

B. Mass merchandisers

C. Convenience stores

D. Warehouse clubs

Answer:

Jake is the marketing manager at Z-T athletic shoes manufacturers. Jake wanted to

know how consumers perceive Z-T shoes when compared to all other athletic shoes

currently in the market. He develops and administers a survey which indicates that the

important attributes consumers look for in athletic shoes include price, durability, fit,

and support. In this case, Jake could determine how Z-T ranks against other brands by

using a _____.

A. perceptual map

B. product mix

C. positioning map

D. competitive chart

Answer:

In which of the following situations is it appropriate for a firm to become a mass

marketer?

A. The market is large and consists of several segments that are almost equal in size.

B. Heavy users make up such a large proportion of the sales volume that they are the

only relevant target.

C. The largest segment is composed of light users, and hence, targeting them would

yield the highest profits for the firm.

D. The brand is not dominant in the market, and targeting a large segment would

benefit sales and profits.

Answer:

A purpose of quantitative research is to:

A. develop new products and services, or reposition current product or service images.

B. build theories and models to explain marketplace behaviors or relationships between

two or more marketing variables.

C. identify a business problem or opportunity situation, or establish information

requirements.

D. investigate the degree to which the insights about a topic hold across a larger sample

or population.

Answer: