Exam (elaborations)
MKT 571 FINAL EXAM 2021
- Course
- Institution
MKT 571 FINAL EXAM 2021/ MKT 571 FINAL EXAM 2021/ MKT 571 FINAL EXAM 2021
[Show more]
Seller
Follow
Examhub
Reviews received
Content preview
Marketing final examMKT/571 exam 2021
1
A company that interacts with its customers to get product ideas should:
• engage the right customers in the right
way.
• prohibit customers from innovating
products without its consent.
• allow all its customers to participate in
the product-design process.
• focus solely on its lead users.
2
In which of the following stages of a product life cycle are profits nonexistent?
Maturity
Introduction
Growth
Decline
Which of the following statements is true of a sharing economy?
In a sharing economy, an individual experiences the benefits of being both a consumer and a
producer.
Self-policing mechanisms are typically absent in most platforms that form part of a sharingrelated
business.
A sharing economy is primarily the result of two activities, harvesting and divesting.
An organization's trust and reputation have little role in determining its place in a sharing economy.
4
, A customer-focused __________ presents a strong, convincing reason why the target market should
purchase a product or service.
• project
objective
• value
network
• value
proposition
• mission
statement
5 ??????
Which of the following is a difference between business markets and consumer markets?
Purchasing decisions in business markets are made by the end user, whereas purchasing
decisions in consumer markets are made by a buying committee.
In business markets, buyers usually purchase products through intermediaries, whereas in
consumer markets, buyers usually purchase products directly from manufacturers.
In business markets, the total demand for goods and services is significantly affected by price
changes, whereas in consumer markets, the total demand for goods and services is not
significantly affected by price changes.
Suppliers in business markets are often expected to customize their products to suit the
requirements of individual business customers, whereas suppliers in consumer markets are
seldom expected to do so.
6
__________ seeks to create brand awareness among consumers and communicate to them about
new products or new features of existing products.
Reminder advertising
Reinforcement advertising
Persuasive advertising
Informative advertising
7
The width of a company’s product mix refers to:
• the number of different product lines carried by the
company.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Examhub. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.82. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83662 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now