Engineering

BUS505DEMIDTERMEXAM

MARKETING MANAGEMENTSPRING 2018 – MID TERM EXAMInstructions:1. As a reply email list the answers 1-50 and your letter answers.2. Send the email with your answers before Sunday March 18th @ 11:59 pm eastern time.3. This is an open note, open book exam. You may not collaborate with anyone.1. If you ask the average person, “What is marketing?” you might hear something like, “Marketers make peoplebuy stuff they don’t need and can’t afford.”a. Trueb. False2. John just purchased a new Honda Civic from the local Honda dealership. Even though John was happy andHonda made a profit, this was not a symbiotic relationship.a. Trueb. False3. Marketers try to figure out what __________ want and then they try to figure out how to provide it and makemoney doing so.a. business ownersb. customersc. advertisersd. companies4. Marketers help/work with all of the following EXCEPT:a. athletesb. hotelsc. department storesd. pets5. Marketing is thought to be evidence of an evolved ____.a. societyb. businessc. customerd. market6. Advertising’s goal is to enhance _____.a. brand imageb. profitc. marketingd. purchases7. What is one of the largest factors stressing out marketers these days?a. the pressure increase stock priceb. the pressure to prove they are valuablec. the pressure to show resultsd. the pressure to produce more money than R&D8. A company’s marketing executives should assess the _____ in terms of a general analysis of a businessproblem or opportunity the company is facing.a. business situationb. 5Csc. STPd. ARA9. Fundamentally, the best marketers put themselves in the place of their _____.a. companyb. customersc. competitorsd. Friends10. The pre-purchase phase includes identifying the need or want, searching possible solutions, and building aconsideration set.a. Trueb. False11. During the ____ phase of the purchase process, the customer identifies that something is lacking.a. purchaseb. pre-purchasec. post purchased. preliminary12. During the purchase phase for a new computer, Larry creates a _____ that includes Apple’s Macbook Proand Microsoft’s Windows 7, but does not include Linux systems.a. mindsetb. purchase setc. consideration setd. list13. Which phase of the purchase process generates word of mouth?a. customer evaluationb. pre-purchasec. purchased. post-purchase14. Whether the buyer is a consumer or a business, the buying process is ____.a. consistentb. inconsistentc. exhaustingd. simple15. A ____ item is something that is purchased without much thought before the purchase.a. quickb. specialtyc. convenienced. shopping16. Company ABC is interested in better understanding how different groups of customers feel about itsproduct. In order to do this, Company ABC will need to _____.a. position its product in the marketb. segment the marketc. mass marketd. target market17. Considering a continuum from “mass marketing” to “one-to-one marketing,” market segmentation is________.a. very close to “mass marketing”b. very close to “one-to-one marketing”c. in the middled. on a different continuum18. As segments increase in size, it becomes _______ to satisfy them with the same19. _______ means that all customers are treated the same. This approach might sound attractive because itsimplifies the marketing task, but it is usually unrealistic because customers differ.a. One-to-one marketingb. Gender marketingc. Group marketingd. Mass marketing20. __________ means that each customer serves as his or her own segment. This approach sounds appealingfrom the customer point of view because the product would be tailored specially for each person’s idiosyncraticdesires.a. Geographic marketingb. One-to-one marketingc. Mass marketingd. Psychological marketing21. The contrast between mass marketing and one-to-one marketing illustrates that segments become more_______ as they increase in size.a. heterogeneousb. favorablec. homogeneousd. unfavorable22. There are two perspectives in assessing the attractiveness of each segment in terms of its potential for ourtargeting, and it is extremely important to consider only one of these.a. Trueb. False23. The idea of targeting is merely one of __________.a. surveyingb. assessingc. analysisd. selection24. Which of the following questions characterizes targeting?a. How can we identify segments?b. Why should we segment?c. Which segments do we want to be our customers?d. Which segment is the biggest?25. Company ABC operates a nail salon that specializes in artificial nails. It has two primary ______, womenwho get their nails done infrequently (i.e., once or twice per year), and women who continuously wear fakenails.a. segmentsb. positioningsc. levels of awarenessd. market sizes26. Marketers try to serve the segments whose needs match their _______, and in doing so hope to make veryhappy and loyal customers who will be very profitable.a. abilities to deliverb. opportunitiesc. financial resourcesd. targets27. Which of the following positioning combinations makes the most sense?a. low price, low quality, exclusive availability, heavy promotionsb. high price, low quality, exclusive availability, heavy promotionsc. low price, high quality, exclusive availability, light promotionsd. low price, low quality, widely available, heavy promotions28. Which of the following is NOT one of three basic corporate strategies for creating value and achievingmarket stature?a. operational excellenceb. product leadershipc. quality placementd. customer intimacy29. Operational excellence refers to companies that ________.a. are good at production, delivery, price, and convenienceb. pride themselves on quality and innovationc. are willing to tailor their products to particular customer needsd. are expensive but is expected to pay off in long-term loyalty and enhanced customer lifetime value30. Product leadership refers to companies that ______.a. are good at production and delivery, and price and convenienceb. are expensive but is expected to pay off in long-term loyalty and enhanced customer lifetime valuec. pride themselves on quality and innovationd. are willing to tailor their products to particular customer needs31. Customer intimacy refers to companies that ______.a. pride themselves on quality and innovationb. are willing to tailor their products to particular customer needsc. target and position themselves high in the marketd. are good at production and delivery, and price and convenience32. Marketer 1 is marketing soft pretzels. Marketer 2 is marketing for a local amusement park. Why might theirstrategies differ?a. They don’t, their strategies would be the same.b. Marketer 1 has a tangible product, white marketer 2 has an intangible product.c. Marketer 1 would focus more on price than marketer 2.d. Marketer 2 would focus more on promotion than marketer 1.33. An example of a tangible purchase is _______.a. consulting adviceb. the symphonyc. financial servicesd. clothing34. Which of the following is an example of “experience marketing”?a. Starbucksb. Cirque du Soleilc. financial servicesd. clothing35. Some brands are closely associated with colors.a. Trueb. False36. Which is not a quality associated with the brand name under the company’s control?a. product shapeb. customer feedbackc. packagingd. logo37. Companies build associations to their brands through _____.a. classical conditioningb. operant conditioningc. learningd. behavioral studies38. Which of the following brand names lacks an inherent meaning?a. Coca-Colab. Nikec. Trump Towersd. Geek Squad39. Which is not true about firms and brands named after the founder?a. They tend to have no inherent meaning.b. They show little creativity in marketing.c. Customers can easily identify the name and products.d. They serve primarily as an ego trip for the founders.40. ABC Company is entering a new international market and has decided to enter the market under a differentbrand name. The selected brand name should not ______.a. engage the customer verballyb. bring certain connotations to mindc. engage the customer sensuallyd. disregard cultural meanings41. Companies who survive for decades need to _____ their logos.a. colorizeb. keepc. adaptd. simplify42. Change is not fun.a. Trueb. False43. The process of developing new products depends first on a company’s __________.a. bottom lineb. sizec. locationd. culture44. A _________ approach is found frequently among companies with strong engineering orientations,pharmaceutical and biomedical firms, financial services, and many high-technology companies.a. bottom-upb. top-downc. upwardd. downward45. Top down is also called ________ because the idea comes from within the company, and then feedbackfrom the outside is sought later in the process.a. inside outb. outside inc. long termd. short term46. The opposite of a top-down approach is usually called ___________.a. outside-inb. inside-outc. co-creationd. bottom-up47. The four P’s of marketing are product, price, place, promotion, and principles.a. TRUEb. FALSE48. A product can be a good or a servicea. TRUEb. FALSE49. The four P’s of marketing do not include _____________.a. Promotionb. Productionc. Placed. Product50. The four P’s of marketing do include __________.a. picklesb. peppersc. potteryd. products

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