STR 581 FINAL EXAMS 100% CORRECT ANSWERS BUY THIS ONE NOW USE AS A GUIDE ONLY1) ________ consists of people equipment and procedures to gather sort analyze evaluate and distribute needed timely and accurate information to marketing decision makers.A. A promotional campaignB. A marketing research systemC. A marketing information systemD. A marketing intelligence systemE. A marketing database2) 3M Hewlett-Packard Lego and other companies use the ________ to manage the innovation process.A. venture teamB. joint- venture systemC. stage-gate systemD. new product teamE. skunk works3) ________ 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. Customer perceived valueB. Failure avoidance rateC. Perceived usefulnessD. Report ratingE. Competitors market share rate4) 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. advisory panelsB. intermediariesC. sales force surrogatesD. external networksE. customer feedback systems5) A ________ is a set of procedures and sources managers use to obtain everydayinformation about developments in the marketing environment.A. marketing intelligence systemB. marketing information systemC. marketing research systemD. product management systemE. vertical system6) A(n) ________ is any good service or idea that is perceived by someone as new.A. new ideaB. productC. innovationD. creative product7) 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. Lower expectationsB. Spend more moneyC. Develop marketing campaignsD. Manage customer experiencesE. Lower prices8) Particularly when shopping for ego-sensitive products such as perfumes and expensive cars many consumers use price as an indicator of ________.A. capabilityB. sizeC. abilityD. qualityE. status9) A ________ consists of a group of customers who share a similar set of needs and wants.A. market segmentB. market levelC. market sliceD. market groupE. market target10) A firm has to consider many factors in setting its pricing policy. We list these as a six-step process. Which of the following is NOT one of these steps?A. Selecting the final price.B. Selecting a pricing method.C. Researching reference prices in the target market.D. Selecting the pricing objective.E. Determining demand.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 2 develop the research plan.B. Step 3 information collectionC. Step 1 drafting the research objectives.D. Step 1 creating decision alternatives.E. Step 1 defining the problem.12) Which of the following types of marketing research firms would best be described as one that gathers consumer and trade information which they sell for a fee (e.g. Nielsen Media Research)?A. General-line marketing research firmsB. Non-profit marketing research firmsC. Specialty-line marketing research firmsD. Syndicated-service research firmsE. Custom marketing research firms13) Companies normally budget marketing research at ________ percent of company sales.A. 6.5B. 10 to 12C. 4D. 2 to 3E. 1 to 214) The marketing communications mix consists of six major modes of communications. Which of the following is NOT one of these modes?A. PackagingB. AdvertisingC. Sales promotionsD. Direct marketingE. Personal selling15) The chief disadvantage to a firm that decides to follow a product specialization strategy in selecting target markets is ________.A. competitors can easily copy any new product introductionsB. e-commerce becomes difficult for the companyC. the product may be supplanted by an entirely new technologyD. logistics can become a nightmareE. no synergy exists16) New-to-the- world products are ________.A. new products that provide improved performance or greater perceived value and replace existing productsB. existing products that are targeted to new markets or market segmentsC. new products that supplement established product lines (package sizes flavors and so on)D. new products that allow a company to enter an established market for the first timeE. new products that create an entirely new market17) Major retailer types include the following EXCEPT ________.A. the InternetB. superstoreC. catalog showroomD. discount storeE. specialty store18) Marketing communications can contribute to brand equity by establishing the brand in memory and to________ (in)a brand image.A. create demandB. communicateC. craftD. create interest19) Price has operated as the major determinant of buyer choice among poorer nations among poorer groups and with ________ products.A. similarB. over the InternetC. commodity-typeD. identical20) ________ communicates a company s intended value positioning of its product or brand to the market.A. Promotion
