MKT/575 MKT 575 MKT575 Week 5 Final Exam – New 2015 version

1. Companies will use a __________ to contact and deliver product to the market target buyers.
New idea strategy
Relationship strategy
Value-chain strategy
2. __________ consist(s) of deciding the scope and purpose of the business, the objectives and the resources necessary to achieve the objectives.
Corporate strategy
Customer relationship management
Market sensing
Business and marketing strategy
3. The role of pricing often depends on how other components such as, advertising, sales promotion and distribution in the __________ are used.
Marketing program
Financial performance
Competitive strategy
Signal to the buyer
4. A __________ name, term, design, symbol or any other feature that identifies one seller’s good or service as distinct from those of other sellers.
5. The flat, flexible __________ offer several advantages in implementation, since they encourage inter-functional cooperation and communication. These types are responsive to changing conditions.
Organization designs
6. Low prices may be used to gain sales and __________.
Achieve financial performance
Stimulate demand
Gain market share
Create product positioning
7. Whole Foods Market, Inc. provides products that appeal to middle class buyers who have strong value preferences for natural foods and are willing to pay premium prices for the products that are not often available from other grocery retailers. This group of people is Whole Foods’ ______.
Brand centers
Communications group
Market target
Mass market
8. Which of these initiatives would not be part of customer relationship management?
Sales force productivity
Recall market research
Customer service and automated call centers
Automated customer contact systems
9. The ___________ is the configuration of distribution channels linking with end-users.
Digital channels
Retail strategy
10. _________ include attitudes, brand awareness and brand preference.
Purchase behavior
Demographic variables
Use situation variables
Buyers needs and preferences
11. A PEST Analysis of the macro-environment includes a review of
Product, Economy, Segmentation, Targeting, and Loyalty issues
Political, Economic, Social, Technological, and Legal issues
Positioning, Economic, Strategy, Technological, and Loyalty issues
Product, Economic, Social, Technological, and Legal issues
12. The differences in buyers according to how they use products, the needs and preferences that the products satisfy and their consumption patterns create __________.
Market segments
Audience management
13. Defining the __________ is(are) (a) critical factor(s) that can be difficult to discern since it is easy to confuse symptoms with causes.
Performance gap
Problems and opportunities
Dashboard gap
Computer gap
14. __________ occurs when a product offering is perceived by the buyer as different from the competition on any physical or nonphysical product characteristic, including price.
15. Commercial air travel provides an interesting example also of the creation of new corporate __________ through strategic alliances, where the alliance becomes the identity such as the one world alliance, separate from the names of the two alliance partners, British Airways and American Airlines.
16. Not acknowledging or responding to the threats and requirements of ___________ is the real danger. Even in markets assumed to be stable, innovation can quickly alter market space.
Creation of new market space
Fast changing markets
Commodization of product designs
Disruptive innovation
17. The __________ process provides an estimate of the profitability of a customer during the time span of the relationship.
Customer net sales
Customer recent profitability
Net present value
Customer lifetime value
18. ___________ offers a company the opportunity to focus its business on the requirements of one or more groups of buyers.
Market segmentation
Corporate responsiveness
19. Reasons for conducting a(n) ___________ include: starting an evaluation program, corporate restructuring, entry into new product and market areas, acquisitions and the impact of Internet-based business models.
Strategic marketing audit
Balanced scorecard
Communications plan
Internal marketing plan
20. A ___________ is described by characteristics of people including why they buy and their preferences for brands of products.
Customer relationship management system
Market segment
Strategic marketing objective
Corporate capability
21. __________ measure(s) consumers’ awareness of specific ads and campaigns by asking questions to determine if a sample of people remembers an ad.
Longitudinal studies
Recall tests
Analyzing historical data
22. _________ provide(s) simpler and less costly ways to match the value requirements offered by the products of incumbent firms serving the market.
23. __________ is the process of identifying and analyzing sub-groups of buyers in a product-market with similar response characteristics.
24. _________ track(s) advertising expenditures and sales results before, during and after an advertising campaign.
25. BMW’s __________ for the new Mini, as a life-style vehicle, included describing the care as quintessentially cool with its biggest selling point being its individualistic appeal.
Value requirements
Market targeting
Segmentation design
Positioning strategy
26. The product, distribution, price and promotion strategy components are the marketing __________.
27. A __________ seeks to have the brand own a place in the eyes and mind of the buyer and the product be distinguished from the products of the competition.
Strategic market
Customer relationship strategy
28. What defines the corporation and what provides guidelines for managing the corporation is __________?
Corporate vision
29. ___________ consists of planning, implementing and controlling an organization’s communications to its customers and other target audiences.
30. __________ consists of any form of non-personal communication concerning an organization, product or idea that is paid for by a specific sponsor. The sponsor makes payment for the communication via one or more forms of media (e.g., television, radio, magazine, newspaper, online).
Sales promotion

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