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Final Marketing Exam Part 1 Questions and Answers 100% Solved
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Final Marketing Exam Part 1
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Final Marketing Exam Part 196% of USAA home insurance policy holders report that USAA representatives meet
their commitment in calling back customers quickly about claims. The most likely result
of USAA's effort is: - answer customer satisfactions
Colorado Silversmith creates and markets silver and turquoise jewelry, which it sells to
retailers in the western United States. The company's 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. - answer sales
Firms with a _____ orientation focus on the internal capabilities of the firm rather than
on the desires and needs of the marketplace. - answer production
The U.S. Postal Service (USPS) argues that its express service is comparable to what
is offered by FedEx and that its prices are much lower. Yet, FedEx dominates with more
than a 45 percent share of the express-delivery market. Which of the following
statements describes this situation? - answerFedEx is perceived as offering greater
customer value.
Customer value is defined as the relationship between benefits and the sacrifice
necessary to obtain those benefits.
A firm with a production orientation is most likely to survive if: - answerdemand for the
product it produces exceeds supply
According to the American Marketing Association, marketing is the activity, set of
institutions, and processes for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners, and society at large. True or
False? - answerTRUE
The _____ orientation assumes people will buy more if aggressive selling techniques
are used. - answersales
The way to achieve customer satisfaction and value is to offer the lowest price. True or
False? - answerFALSE
Networkcar.com sells a plug-in device that connects to computer diagnostic ports that
are standard on cars. The device beams signals to dealers who can remotely diagnose
or spot trouble, allowing car dealerships to maintain a closer bond with their customers
by offering maintenance before a problem leaves customers with an inoperable or
, possibly dangerous car. With the device, dealers can better engage in: -
answerrelationship marketing
Relationship marketing is a strategy that entails forging long-term partnerships with
customers.
Indonesian logging companies harvest the rain forests for timber and assume that a
market exists for their products. The typical Indonesian logging company has a(n)
_____ orientation. - answerproduction
When the Internet auction company eBay opened a version of the company called eBay
France for the French market, it was an example of market penetration.
True or False? - answerFALSE
As marketers gain more experience in marketing a product, costs tend to decrease,
which is an example of the maturity effect.
True or False? - answerFALSE
Typically, the development of the marketing mix starts with determining the promotion
for a product. True or FALSE? - answerFALSE
Heinz is introducing 400 new products in the next two years. To know which markets to
reach, Heinz should first perform a: - answermarket opportunity analysis
An market opportunity analysis (MOA) is the description and estimation of the size and
sales potential of market segments that are of interest to the firm.
Making sure products are available when and where customers want them is the job of
which element of the marketing mix? - answerDistribution strategies
Distribution strategies make products available when and where customers want them.
Berkshire Hathaway Inc., a large property insurance company, owns a large chain of
jewelry stores and has recently purchased Russell Corporation, a manufacturer of
sporting goods. Berkshire Hathaway uses a market penetration strategy.
True or False? - answerFALSE
In the portfolio mix, notebook computers would be an example of a star. True or False -
answerTRUE
Niche competitive advantages are difficult to develop and consequently are quite rare.
TRUE OR FALSE? - answerFALSE
The manufacturer of Macho brand martial arts products was implementing a strategic
plan when it sponsored a local karate tournament for teenagers. TRUE OR FALSE? -
answerFALSE
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