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MKT 571 Final Exam

1.

Which component of a marketing audit includes major developments in


income, prices, savings, and credit that affect the company?

Technological

Political

Economic

Cultural
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2.

Marketers must see themselves as benefit providers. For example, when a


shopper purchases new shoes, he or she expects the shoes to cover his or her
feet and allow him or her to walk unobstructed. This is an example of what level
in the consumer-value hierarchy?

Core benefit

Pure tangible product

Basic product

Potential benefit

3.

What type of strategy consists of geographical pricing, price discounts and


allowances, promotional pricing, and differentiated pricing?

Regular prices

Price adaptation

Altered pricing

Fixed pricing

4.

A company can learn a great deal by analyzing the degrees of brand loyalty.
For example, ________ can show the firm which brands are most competitive with
its own.

hard-core loyals

split loyals

shifting loyals

switchers

5.

Marketers need to identify the hierarchy of attributes that guide consumer


decision making in order to understand different competitive forces and how
these various sets get formed. This process of identifying the hierarchy is called
________.

market valuation

market estimation

brand association

market partitioning

6.

Which of the following is a strategy that uses the manufacturers sales


force, trade promotion money, or other means to induce intermediaries to carry,
promote, and sell the product to end users?
Strategic plan

Lock strategy

Push strategy

Pull strategy

7.

What are the four characteristics of a marketing audit?

Simple, unique, randomly, and exclusive

Announced, semi-annually, dependent, and perpetual

Comprehensive, systematic, independent, and periodic

Dependent, non-comprehensive, quarterly, and unannounced


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8.

ABC Technology is nearing completion on their product and market


research has discovered a competitor is also close to launching a similar
product. ABC has decided launch before their competition, this is called
________.

first entry

parallel entry

late entry

early entry

9.

What can enhance the value of Web-based shopping experiences to serve


as personal shopping assistants or Web-site guides?

E-mail

Avatars

Tablets

Smartphones

10.

Through its cutting-edge point-of-sale inventory, management technology,


and highly efficient shipping practices, Wal-Mart is able to keep its inventory
expenditure extremely low and to pass these savings on to consumers in the
form of low prices. Wal-Marts strategy is best described as ________.

Overall cost leadership

market development

integrative growth

differentiation

11.

If the Ford GT is designed to accelerate to 50 miles per hour within 10


seconds, and every Ford GT coming off the assembly line does this, the model is
said to have high ________.

compatibility

durabilitybmw

interoperability

conformance quality
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12.

Which control should periodically reassess its approach to the marketplace


with a good marketing audit?

Marketing control

Ethical control

Performance control

Strategic control

13.

What is the perceived monetary value of the bundle of economic,


functional, and psychological benefits customers expect from a given market
offering because of the product, service, people, and image?

Total management benefit

Complete marketing benefit

Total customer benefit

Ultimate service benefit

14.

With ________ as a target market strategy, the firm concentrates on serving


many needs of a particular customer group.

market specialization

product specialization

selective specialization

single-segment concentration

15.

Which of the following can induce a firm to expand into the international
arena?

A saturated foreign market

Cater to a domestic mass market

High income level of domestic consumers

A saturated domestic market

16.

The effect of exposures on audience awareness depends on the following


three factors:

space, communication, and advertisements

reach, frequency, and impact

distance, timing, and focus

height, length, and width

17.

2Wheels conducts exhaustive customer surveys to discover customer


preferences and attitudes towards the brand. Sally uses cluster analysis to
classify the data and help the company determine the trends in the information.
Sally is using the technique of ________.

data marketing

data governance

data accumulation

data mining
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18.

A music school in Boyles Height, LA, specializes in teaching the guitar and
the violin. After a spurt in growth and a few successful years, the school is

experiencing a slowdown in sales and stability in its profits due to an increase in


competition. The school is in the ________ stage of its life cycle.

decline

maturity

obsolescence

growth

19.

A firm must know where to position its product based on price and
________.

region

quality

promotional efforts

communication

20.

The ability to meet humanitys needs without harming future generations is


now a top priority in most corporate agenda________.

righteousness

rules

ethics

sustainability

21.

What type of control focuses on measuring a companys products


territories, customer groups, segments, trade channels, and order sizes to help
expand or eliminate any products or marketing activities?

Activity

Profitability

Solvency

Efficiency

22.

Another basis for decision-making is referred to as ________.

ethical practices

situational ethics

ethical dilemmas

correct ethics
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23.

BMW's "The ultimate driving machine," American Express' "Don't leave


home without it," New York Times' "All the news that's fit to print," and AT&T's
"Reach out and touch someone" are all examples of ________.

brand slogan

brand personality

brand vision

brand mission

24.

Which method identifies the effect sponsorship has on consumers brand


knowledge?

Demand-side method

Pricing method

Supply-side method

Positioning method

25.

A social definition of marketing says ______.

a company should focus exclusively on achieving high production efficiency, low


costs, and mass distribution to facilitate the broadest possible access to the companys
products

marketing is the process of extracting maximum value from consumers to


facilitate corporate growth

marketing is the process by which individuals and groups obtain what they need
and want through creating, offering, and freely exchanging products and services of
value with others

effective marketing requires companies to remove intermediaries to achieve a


closer connection with direct consumers

26.

Prestige LLC, a small company that manufactures specialty cereals and


energy bars, wants to launch a "green marketing" program in response to
heightened consumer awareness about environmental issues. What should the
company do to maximize the program's chances of being successful?

Emphasize benefits to the consumer rather than environmental benefits.

Explain the rules and regulations laid out by governmental agencies to protect
the environment.

Demonstrate that the products will benefit both customers and the society in the
long-term.

Focus on the efforts and costs incurred by the company to bring these "green"
products to consumers.
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27.

The marketing manager needs to know the cost of the research project
before approving it. During which stage of the marketing research process would
such a consideration most likely take place?

Step 1 defining the problem

Step 2 developing the research plan

Step 4 analyzing the information

Step 5 drafting the report

28.

New-to-the-world products are ________.

new product enhancements that supplement established products

existing products that are targeted to new geographical markets

new products that create an entirely new market

low-cost products designed to obtain an edge in highly competitive markets

29.

_______ is an approach that considers different ethnic and cultural


segments require targeted marketing campaigns and tactics.

Ethnic-based marketing

Diversity marketing

Multicultural marketing

30.

Specialized marketing
The three guidelines for anticipating management reactions are (1) prior to
the crisis during normal day-to day operations, (2) at the moment some event
triggers the crisis, and (3) during the crisis situation that triggers the event. These
guidelines are the stages for ________.

decision making

provoking solutions

crisis management

problem-solving

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of MKT 571 Final Exam Assignment from UOP. Other topics in the class are as follows:
MKT 571 Week 6 Final Exam
MKT 571 Final Exam

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