Webster MRKT5000 Final Exam 2016 (All Correct)
Question 10.6 pts
Which stage in the product life cycle is critical to a product’s survival because competitive reactions to the product’s success during this period will affect the product’s life expectancy?
Question 20.6 pts
The marketing and financial value associated with a brand’s strength in a market is referred to as brand ___________
Question 30.6 pts
Which of the following is not a service product?
a 100% service satisfaction guarantee
A Jimmy Buffett concert
A flight on Southwest Airlines
An overnight stay at a Holiday Inn
The dry-cleaning of a suit
Question 40.6 pts
Jim Price, a dentist, find that he is not bringing in enough revenue to cover his expenses. He would like to schedule more patients, but he finds that in almost every time slot, he is seeing an existing patient. Jim’s problem in expanding his practice deals with the aspect of service called
Question 50.6 pts
If H&R Block, a major tax preparation firm, is having a problem with its employees being inconsistent in filing of returns, the firm is experiencing a problem with which characteristic of the service offering?
Question 60.6 pts
A channel of distribution is a group of individuals and organizations that
links producers to other marketing intermediaries
consumes about one-half of every dollar spent on products in the U.S.
directs the flow of products from producers to customers
takes title to products and resells them
manages transportation and warehousing functions
Question 70.6 pts
An arrangement in which a supplier grants a dealer the right to sell products and/or services for some type of consideration is
selling products on consignment
Question 80.6 pts
In contrast to industrial products, consumer products are often purchased because of
social influences and psychological factor
Question 90.6 pts
Advertising, personal selling, sales promotion, and public relations are called
marketing mix components
characteristics of a product
promotion mix ingredients
Question 100.6 pts
Frequently, McDonald’s restaurants offer 32-ounce glasses depicting currently popular movie characters free with the purchase of a large drink. This example illustrates McDonald’s use of which one of the following elements of the promotion mix?
Question 110.6 pts
To gain market share, Hyundai entered the U.S. car market with a comparatively low price. One of the negative side effects of taking this pricing position is
a negative impact on consumer’s perceptions of quality
a high return on investment level affecting tax balances owed
poor survival chances
higher developmental costs
Question 120.6 pts
When developing prices, a marketer’s first step is to
determine pricing method
select a pricing policy
evaluate competitor’s prices
develop pricing objectives
Question 130.6 pts
For customers, value is a function of
the product’s price and how long the product will last
primarily the product’s price
the product’s price and quality attributes
the product’s quality and functional attributes
the product’s quality relative to the quality of competing brands
Question 140.6 pts
The fact that senior citizens are charged a lower price at movie theaters than younger adults is an example of
Question 150.6 pts
The most common reason for marketing strategies turning out differently than expected is that
managers fail to realize that marketing implementation is just as important as marketing strategy
marketing implementation is poorly conceived
not enough resources are devoted to marketing implementation
the marketing environment changes too frequently
managers often have lofty expectations about the marketing strategy
Question 160.6 pts
If Apple Computer measured and evaluated the quality of its goods, services, and processes as compared with those of the best-performing companies in the computer industry, it would be employing
uniform commitment to quality marketing
Question 170.6 pts
In a traditional organization, marketing decisions are generally
centralized at the top levels of the organization
made by frontline employees
made by frontline managers
made only by the CEO
Question 180.6 pts
The marketing control process consists of
setting objectives, implementing strategies, and reducing the differences between desired and actual performance
establishing goals, market scanning, and market share analysis
establishing goals and measuring performance
planning, implementing, and measuring marketing activities
establishing standards, evaluating performance, and reducing the differences between desired and actual performance
Question 190.6 pts
An expected level of performance against which actual performance can be compared is a
step in sales
standard of excellence
Question 200.6 pts
All of the following are major steps in developing new products except
evaluation of competitors’ efforts.
Question 210.6 pts
To use co-branding effectively, which one of the following is least important?
The brands involved should represent a complimentary fit in a customer’s mind.
The brands that are teamed together should not lose their individual identities.
The brands involved should be owned by two or more organizations.
To avoid confusion on the part of customers, co-branding should be done in a way so that it is obvious which brand is the main brand or key brand.
The co-branded product should be able to benefit from the distribution system of both brands involved.
Question 220.6 pts
An important goal of physical distribution is reducing the time it takes to complete a process, or
electronic data interchange.
Question 230.6 pts
Which of the following is the least flexible of the strategic retailing issues?
Question 240.6 pts
What type of advertising points out a brand’s uses, features, and advantages that fit consumers but may not be available in other brands?
Question 250.6 pts
Which of the following is most likely to stimulate customer loyalty?