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STR 581-Final Exam QUESTION BANK / STR581-Final Exam QUESTION BANK: GRADED A | 100% CORRECT
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  • Course
  • STR 581 (STR581)
  • Institution
  • UNIVERSITY OF PHOENIX

STR 581-Final Exam QUESTION BANK / STR581-Final Exam QUESTION BANK: GRADED A | 100% CORRECTSTR 581-Final Exam QUESTION BANK / STR581-Final Exam QUESTION BANK: GRADED A | 100% CORRECTSTR 581-FINAL EXAM QUESTIONS BANK 1) Most established companies focus on ________ when it comes to innovation. A....

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  • March 4, 2021
  • 62
  • 2020/2021
  • Exam (elaborations)
  • Questions & answers

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  • str 581
  • str 581 final exam question bank
  • str 581 final exam questions bank 1 most established companies focus on when it comes to innovation a continuous innovation b incremental inn

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  • UNIVERSITY OF PHOENIX
  • STR 581 (STR581)
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STR 581-FINAL EXAM QUESTIONS BANK

1) Most established companies focus on ________ when it comes to
innovation.

A. continuous innovation

B. incremental innovation

C. everyday innovation

D. demand innovation

E. competitive innovation

2) Following the ________ approach to target market selection
encompasses a strong knowledge of the segment’s needs, a strong
market presence, and operating economies through specializing in
production, distribution, and promotion.

A. product specialization

B. market specialization

C. single-segment concentration

D. full market coverage

E. selective specialization



3) ________ is the difference between the prospective customer’s
evaluation of all the benefits and all the costs of an offering and the
perceived alternatives.

A. Failure avoidance rate

B. Competitors market share rate

,C. Customer perceived value

D. Report rating

E. Perceived usefulness



4) A company can take several steps to improve the quality of its
marketing intelligence. If the company purchases competitive products
for study, attends open houses and trade shows, and reads competitors’
published reports and stockholder information, the company is using
________ to improve the quality of its marketing intelligence.

A. intermediaries

B. sales force surrogates

C. external networks

D. advisory panels

E. customer feedback systems



5) A(n) ________ is any good, service, or idea that is perceived by
someone as new.

A. innovation

B. product

C. new idea

D. creative product



6) Total customer satisfaction is the general feeling of pleasure or
disappointment that results from comparing perceived performance to

,expectations. To achieve total customer satisfaction, organizations need
to_____________.

A. Spend more money

B. Develop marketing campaigns

C. Manage customer experiences

D. Lower expectations

E. Lower prices



7) A ________ is a set of procedures and sources managers use to obtain
everyday information about developments in the marketing
environment.

A. marketing information system

B. marketing research system

C. product management system

D. marketing intelligence system

E. vertical system



8) Marketers usually identify niches by ________.

A. conducting VALS tests

B. dividing a segment into subsegments

C. allowing consumers to gravitate toward product brands

D. examining the demographics section of The Handbook of
Marketing

E. producing products that can be used in a variety of ways

, 9) In ________ marketing, the seller engages in the mass production,
mass distribution, and mass promotion of one product for all buyers.

A. mass

B. group

C. general

D. segmented

E. differentiated



10) Particularly when shopping for ego-sensitive products such as
perfumes and expensive cars, many consumers use price as an indicator
of ________.

A. ability

B. capability

C. status

D. size

E. quality

11) A marketing manager needs to know the cost of the research project
before approving it. During which step in the marketing research
process would such a consideration most likely take place?

A. Step 1—drafting the research objectives.

B. Step 2—develop the research plan.

C. Step 1—defining the problem.

D. Step 3—information collection

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