Exam (elaborations)
MKT 571 FINAL EXAM 2021
- Course
- Exam
- Institution
- University Of South Africa (Unisa)
MKT 571 FINAL EXAM 2021/ MKT 571 FINAL EXAM 2021/ MKT 571 FINAL EXAM 2021
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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.
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