MKT 510 Final Exam – Strayer New
MKT 510 Final Exam
Week 11 Solution – Perfect Score
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MKT 510 Week 11 Final Exam Solution
Multiple Choice Questions
1. Why is China very attractive to marketers
around the world?
A) because it represents a collective approach to
marketing in contrast to the traditional individualist approach used in the
United States and other western cultures
B) Chinese consumers are very brand loyal
C) they are the heaviest users of the Internet
D) Chinese teens are easier to understand because
they are less “trendy” than teenagers from other countries
E) because of its massive population, rising
income, and emerging youth market
Answer: Page: 5 Difficulty: moderate
2. _____ is the study of individuals, groups, or
organizations and the processes they use to select, secure, use, and dispose of
products, services, experiences, or ideas to satisfy needs and the impacts that
these processes have on the consumer and society.
A) Marketing
B) Consumer behavior
C) Psychographics
D) Demographics
E) Psychology
Answer: Page: 6
Difficulty: easy
3. One primary function of Harriet's job is to
study individuals, groups, or organizations and the processes they use to
select, secure, use, and dispose of her company's products and services to
satisfy needs and the impacts that these processes have on the consumer and
society. Harriet works in the field of
_____.
A) social psychology
B) cognitive psychology
C) management
D) consumer behavior
E) organizational behavior
Answer: Page: 6
Difficulty: easy
4. Which of the following is NOT true regarding
consumer behavior?
A) Organizations are applying theories and
information about consumer behavior on a daily basis.
B) It is often necessary to conduct research.
C) Consumer behavior is a complex,
multidimensional process.
D) The overall model of consumer behavior
presented in the text is accurate in predicting consumer behavior.
E) Marketing practices designed to influence
consumer behavior involve ethical issues that affect the firm, the individual,
and society.
Answer: Page:
7 Difficulty: hard
5. Which of the following is a key aspect
regarding consumer behavior?
A) Organizations are applying theories and
information about consumer behavior on a daily basis.
B) It is often necessary to conduct research.
C) Consumer behavior is a complex,
multidimensional process.
D) Marketing practices designed to influence
consumer behavior involve ethical issues that affect the firm, the individual,
and society.
E) all of the above
Answer: Page: 7 Difficulty: easy
6. Which of the following is NOT an application
of consumer behavior?
A) marketing strategy
B) human resource management
C) regulatory policy
D) informed consumers
E) social marketing
Answer: Page: 9-11
Difficulty: moderate
7. Thomas wants to gain a useable understanding
of consumer behavior in order to help him become a more effective marketing
manager. Which application of consumer
behavior does this represent?
A) marketing strategy
B) regulatory policy
C) social marketing
D) informed consumers
E) resource management
Answer: Page: 9
Difficulty: moderate
8. _____ is the application of marketing
strategies and tactics to alter or create behaviors that have a positive effect
on the targeted individuals or society as a whole.
A) Social marketing
B) Consumer behavior
C) Regulation
D) Proactive marketing
E) Ethical marketing
Answer: Page: 10
Difficulty: moderate
9. Mia is concerned how her marketing activities
will affect individual consumers as well as society at large. Mia is implementing _____.
A) conscientious marketing
B) regulated marketing
C) ethical marketing
D) proactive marketing
E) social marketing
Answer: Page: 10 Difficulty: moderate
10. Most economically developed societies are
legitimately referred to as _____ societies.
A) marketing
B) proactive
C) consumption
D) competitive
E) enhanced
Answer: Page: 11
Difficulty: moderate
11. Which of the following is used by firms to
influence consumers?
A) ads
B) packages
C) store environments
D) sales pitches
E) all of the above
Answer: Page: 11 Difficulty: easy
12. To survive in a competitive environment, an
organization must provide its target customers more _____ than is provided to
them by its competition.
A) product
B) service
C) value
D) feedback
E) attention
Answer: Page: 11
Difficulty: moderate
13. The difference between all the benefits
derived from a total product and all the costs of acquiring those benefits is
known as _____.
A) price
B) position
C) consumer behavior
D) customer value
E) equity
Answer: Page: 11
Difficulty: moderate
14. Laurie saved for six months to have enough
money to buy a new designer outfit to wear to a special party. She had to travel to a larger city to
purchase this outfit, but it was worth it to her because it made her feel
beautiful and confident. The difference
between the benefits Laurie perceived from this purchase and the cost to her to
acquire these benefits describes her _____.
A) consumer behavior
B) customer value
C) motivation
D) equity difference
E) perceptual field
Answer: Page: 11
Difficulty: hard
15. It is critical that a firm consider value
from which perspective?
A) the competition's
B) the firm's
C) the customer's
D) the government's
E) the industry's
Answer: Page: 11
Difficulty: easy
16. How can an organization provide superior
customer value to customers?
A) by conducting market research
B) by offering their products at the lowest
price
C) by offering extended warranty coverage on
products
D) by doing a better job of anticipating and
reacting to customer needs than the competition does
E) by offering more variations of a product
Answer: Page: 11
Difficulty: hard
17. Marketing strategy begins with _____.
A) market segmentation
B) targeting
C) conducting an outcomes assessment
D) objective setting
E) conducting a market analysis
Answer: Page: 11 Difficulty: moderate
18. Harold is tasked with developing the
marketing strategy for his family's business.
What should he do first?
A) segment the market
B) conduct a market analysis
C) decide on which segments to target
D) develop the marketing mix
E) set objectives
Answer: Page: 11
Difficulty: moderate
19. Marketing strategy is formulated in terms of
the marketing mix; that is, it involves determining the product, features,
price, communications, distribution, and services that will provide customers
with superior value. This entire set of
characteristics is often referred to as the _____.
A) total product
B) customer value
C) offering
D) value proposition
E) total value
Answer: Page: 12
Difficulty: moderate
20. Disney World in Orlando, FL has several theme
parks, resorts, restaurants, and stores.
Each is intentionally created to offer a memorable event for
visitors. For example, the Wilderness
Lodge is a large resort hotel on the grounds, and everything within it is made
to look like log cabins and pioneer days.
Even the casual restaurant has the wait staff dressed in pioneer
costumes, and they put on funny little skits when they are waiting on
customers. Which of the following best
describes what Disney is selling?
A) a product
B) a service
C) a bundled product
D) a bundled service
E) an experience
Answer: Page: 13 Difficulty: hard
21. _____ are small, convenient, open-air
retailing complexes laid out to evoke the small-town shopping districts of
previous generations.
A) Malls
B) Kiosks
C) Town centers
D) Lifestyle centers
E) Micro-malls
Answer: Page: 14
Difficulty: hard
22. Which of the following is a component of a
market analysis?
A) market segmentation
B) objectives
C) conditions
D) price
E) all of the above
Answer: Page: 14-16 Difficulty: moderate
23. Darren is conducting a market analysis for
his business, and he has asked your advice on what he should be analyzing. Which of the following should he consider at
this step of marketing strategy development?
A) the company's own ability to meet customer
needs
B) competitors' capabilities and strategies
C) consumers' needs
D) conditions in the market
E) all of the above
Answer: Page: 14-16 Difficulty: moderate
24. Jamie is developing a thorough understanding
of his company's own capabilities, the capabilities of current and future
competitors, the consumption process of potential customers, and the economic,
physical, and technological environment in which these elements interact. Which step in the marketing strategy process
is Jamie performing?
A) setting objectives
B) segmenting the market
C) conducting a market analysis
D) assessing the outcomes
E) targeting the market
Answer: Page: 14
Difficulty: moderate
25. Which of the following aspects is evaluated
when determining a firm's ability to meet customer needs?
A) financial condition
B) general managerial skills
C) production capabilities
D) technological sophistication
E) all of the above
Answer: Page: 15 Difficulty: easy
26. Which of the following is NOT evaluated when
analyzing a company's own ability to meet customer needs?
A) competitors
B) financial strengths
C) general managerial skills
D) production capabilities
E) reputation
Answer: Page: 15
Difficulty: moderate
27. As part of developing your company's
marketing strategy, you are tasked with analyzing the new-product capabilities,
channel strength, advertising abilities, service capabilities, marketing
research abilities, and market and consumer knowledge. Which aspect of your company's capabilities
are you assessing?
A) financial strength
B) marketing skills
C) general managerial skills
D) production capabilities
E) reputation
Answer: Page: 15
Difficulty: easy
28. A portion of a larger market whose needs
differ somewhat from the larger market is referred to as a(n) _____.
A) market segment
B) niche
C) subgroup
D) ancillary market
E) secondary market
Answer: Page: 16
Difficulty: moderate
29. Smaller women like to purchase fashionable
clothes just as much as any women.
However, most clothes are not proportioned for their smaller size and do
not fit well. As a result, several
manufacturers offer “petite” sizes of clothing for this group of consumers. Women who comprise this group have needs that
differ somewhat from the total market and represent a _____.
A) demographic segment
B) lifestyle segment
C) market potential
D) sub-market
E) market segment
Answer: Page: 16 Difficulty: hard
30. Tracking consumers' online activity and
delivering specific banner ads based on that activity is known as _____.
A) clickstream
B) blogging
C) spam
D) behavioral targeting
E) electronic targeting
Answer: Page: 16
Difficulty: moderate
31. Tacoda Systems tracks consumers' online
activity and delivers specific banners based on that activity. This tracking and ad delivery system has been
installed on almost 3,000 Web sites, and advertisers pay on a
pay-for-performance basis, which means that advertisers pay Tacoda Systems only
when a consumer clicks on their ad. The
tracking of online activity and delivery of ads based on that activity is
called _____.
A) click-throughs
B) behavioral targeting
C) spamming
D) blogging
E) cookie targeting
Answer: Page: 16
Difficulty: hard
32. What is the first step in market
segmentation?
A) describe each group
B) group customers with similar needs sets
C) identify product-related need sets
D) select an attractive segment to serve
E) set objectives for segmenting
Answer: Page: 16
Difficulty: moderate
33. describing each group
A) selecting an attractive segment(s) to serve
B) identifying product-related need sets
C) grouping customers with similar need sets
D) deciding the segmenting scheme
Answer: Page: 16
Difficulty: moderate
34. Which of the following is NOT a step in
market segmentation?
A) set budget
B) identify product-related need sets
C) group customers with similar need sets
D) describe each group
E) select an attractive segment(s) to serve
Answer: Page: 16
Difficulty: hard
35. Carlos is attempting to segment the market
for his company's products. Where should
he begin?
A) set objectives
B) identify product-related need sets
C) group customers with similar need sets
D) describe each group
E) selecting an attractive segment(s) to serve
Answer: Page: 16
Difficulty: hard
36. Which term reflects the fact that most
products in developed economies satisfy more than one need?
A) multiplicity
B) duplicity
C) need ar
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