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MKTG 3701 Final Exam Complete Questions And Correct Answers.
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According to your text, what is the most basic concept in marketing? - correct answer determining the difference between consumer needs and wants All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT? - correct answer ...

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  • May 16, 2024
  • 21
  • 2023/2024
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MKTG 3701 Final Exam
According to your text, what is the most basic concept in marketing? - correct answer determining the difference between consumer needs and wants
All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT? - correct answer profit.
Daphne used to work in the city where she would take public transportation to work. However, she just took a new job in the suburbs and now not only has to find a place to live, but also has to buy a car to get to and from her job. For Daphne, these things represent? - correct answer a need.
In marketing, an exchange refers to? - correct answer buyers and sellers trading things of value so that each is better off as a result.
Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor activities. In
an effort to stave off competition, the company has begun keeping a log of customer interests and hobbies so it can alert them to local events of relevance to them as well as send them articles that pertain to their favorite activities. In addition, Outdoor Adventures has added a section to their website where customers can post pictures of themselves using the stores gear. These efforts illustrate how the firm is engaged in? - correct answer relationship marketing.
What is the premise behind the marketing concept? - correct answer a focus on satisfying the needs of the customer
A company that has a market orientation and adheres to the marketing concept does NOT? - correct answer fuel sales growth through the application of aggressive sales techniques
A problem facing the timber industry is the absence of any effective way to prove that rain forest timber has been legally harvested. In places like Indonesia, as much as 80 percent of timber available for sale is illegally cut. Companies like The Home Depot do not want to sell timber from illegally logged forests even though the demand is great for timber from rain forests. Which of the following conditions required for an exchange to occur is missing when a company tries to sell illegally acquired logs to The Home Depot? - correct answer Each party believes it is appropriate to deal with the other party.
Colorado Silversmith creates and markets silver and turquoise jewelry, which it sells to retailers in the western United States. Management believes its retail customers will stock more jewelry if its salespeople use aggressive marketing techniques, so the company provides strong incentives for salespeople and promotional allowances to resellers to get distribution for its jewelry. In other words, the company has a _____________ orientation? - correct answer sales
Kelloggs is offering free DVDs to consumers who collect five official Collection certificates from the back panels of specially marked packages of Kelloggs cereals and then mail them with the official order form. Within 90 days, these consumers will receive the movie of their choice. _____________ will occur when a movie fan mails in his or her certificates for a movie? - correct answer exchange
Mimi Couturier is a design company that specializes in formalwear for women. The company is known for challenging fashion mores. The fashion designers use computer assisted design software to create what it thinks women should wear. The company regularly hires industry experts to examine its factories
to find waste and inefficiencies that can be eliminated. The company has expanded the number of products it offers for sale many times. However, for the last two years Mimi Couturier has lost money, and it has had to lay off some of its workforce. To avoid this occurrence in the future, Mimi Couturier should? - correct answer have someone study its target market to see what needs and wants should be met by Mimi Couturier
One facet of marketing is that it is? - correct answer a philosophy that stresses
customer satisfaction
Researchers at PPG Industries spent considerable time, effort, and money developing a bluish windshield that would let in filtered sunlight but block out the heat. Little market research was done, but the scientists were convinced this new product would be significantly better than existing windshields even though it was more expensive and of a different color than the current models on the market. This scenario suggests PPG most likely has ________________ orientation? - correct answer production
Toyota found that consumers wanted cars to last longer and be more environmentally friendly. GM, however, enjoyed being the top U.S. car producer and focused more on how many cars and trucks it could manufacture, not on what customers wanted from a vehicle. GM had more of a ____________ orientation? - correct answer production
When a homeowner visited The Home Depot to buy what he thought he needed to fix a leaking toilet, he gathered up materials totaling almost $70. One his way to check out, an employee asked him what was he trying to fix. After some discussion, the employee convinced the homeowner that a $5.99 replacement part would fix the problem better than the materials he thought he needed and with less trouble. This sort of discussion between employees and customers is commonplace at The Home Depot and indicates the retail store has ______________ orientation? - correct answer market
A good mission statement should? - correct answer provide motivation for the
employees of the firm.
How do companies go about strategic marketing planning? - correct answer marketing plan
All of the following are characteristics of a good objective EXCEPT? - correct answer profitable
Briggs & Stratton is a company that makes small engines. The company is looking at customer trends, its competitors, and the economy to see if there are any threats or opportunities on the horizon. It has also examined its production policies and sales histories to determine its strengths and weaknesses. Briggs & Stratton is conducting? - correct answer situation analysis
Earl is starting a new bank. Before the opening day, Earl had a meeting with all employees. He discussed their mission, defined objectives for the bank for the coming years, and shared who their target market is. He talked about their product offerings and where their future branches would be located. Earl is sharing the bank? - correct answer marketing plan
Everyone knows the brand name Kleenex. Kleenex is what many consumers think of when they think of tissues. This widely recognized brand name is a source of? - correct answer a product differentiation competitive advantage

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