BA 10 - Marketing - Fall 2002 - Robinson

BA 10 - Marketing - Fall 2002 - Robinson - MARKETING Finn....

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Unformatted text preview: MARKETING Finn. zooz ugba 10 5% Principles of Business Afiufi SCHOOL 0]" SUSENESS September 2002 Module 1 Exam: Marketing—Delighting Customers David Robinson Make sure your family _ name comes first! Instructions 0 This is an exam—please do not talk 0 Your books and notes must be put completely -. o t of sight 0 You need a Scantron 882 E5 or E . raise yo ur hand 0 While you are waiting /a.-- o ; #2 pencil; if you are without either, 'n, enter the following on your Scantron: Name: LAST, First M. Suhkcn 1234—5678 your Student Identification Number TcstNo.: {A, B, C, or D} . This is the test version—you won’t know this until you open the test Date: (1, 2, etc) This module number Houn Your Section number: {101 m 116) ugba-10 Module 1 In the late 19805 it cost more than $30 to ship a VCR from the point of manufacture (such as China orJapan) to a store in the US. Thanks to containerization, the typical cost of shipping consumer electronics from Asia is: About 1 percent of retail price h. About 10 percent of retail price c. Often more than 50 percent of retail price (1. None of the above Retailing in Germany is notoriously unfriendly to consumers—stores close early and sales have been limited to just twice a year. Under the basic law of fair competition, which of the following actually occurred: 2r. German consumers weren’t allowed to shop on the Internet b. ‘ German consumers weren’t allowed to return defective goods Lands End was prohibited from advertising its money back guarantee in Germany rel.” American Express was prohibited from offering cards in Germany Good marketing firms no longer think solely about single transactions with customers, rather they choose: a. Industrial marketing (" Relationship marketing c. Not-for-profit marketing (1. Business-to-government marketing One of the following is not usually considered one of the four elements of the Marketing Mix: a. Product I). Price ea Promotion Positioning Suppose Starbucks conducts market research and finds that single people without children are more likely to drink coffee in their stores, whereas married—with-chiidren are more likely to buy beans and make coffee at home. This could be the basis for what type of segmentation? a. Geographic Demographic c. Psychographic cl. None of the above ugba-10 Module 1 2 Consumers buy many items'r0utinely, every week. But for major purchases, such as buying furniture, consumer buying behavior includes all except which one of the following steps: If a. _; Impulsive buying b. Information seeking c. Evaluation of alternatives d. Post—purchase evaluation 7. Business—to—business marketing differs from the consumer market because: a. All of the items carry high margins (profit per unit) b. Business—to—business selling drives consumer demand (.1 Personal setting is “U: used 1‘; Buyers may draw up product specifications 8‘ What is true of flflit‘pJW/IIE/ ill/mdM/fwzi' for consumer packaged goods (such as grocery items) in the last decade? _/,a.'" There have been fewer of them as manufacturers have learned that most of _.r them fail ‘1 The number of new products each year has increased dramatically c Most new product ideas in the US come from abroad d-.' Most firms take much longer to bring products to market 9. There are about 8 million pairs of boots sold every year under the Caterpillar name, but the heavy equipment machine maker doesn’t manufacmre"any of them. They are made by a shoe company called W’olverine. This is an example of: ,a-f’ Stealth brand National brand ‘ (91,: Licensed brand —‘H" ‘ rm?“ x c: ' v A ,. - r 7 :ftwt’if‘..¢«:ffifj. m- ’1‘ 'J i s r ——r"- i - .7 . . U i r d' I nvatc brdnd f: 3-. ‘4' £ka "i- rm/ / V ‘33;er 145716ng f, If), it "--',‘I. 4; a“ {:41 A 10. One of the following is not a reason for a firm to adopt penetration pair/{g for a new consumer product: a. The need to convince supermarkets to carry the product, given limited shelf space \.__b. The need for government approval ‘ c. The need to take advantage of manufacturing capacity cl The need to take advantage of network effects, such as for text—messaging ll. Paritiaaizgg means the image that our product holds in the minds of consumers, 6.) As compared with competitor offerings b. c. d. As compared with the rest of our product line As defined in our advertisements None of the above is true 3 ugba-10 Module 1 12. This type ofperrmm! 5311ng is designed to promote interest, rather than to close a sale: a. Order processing [3. Creative selling Missionary selling d. Guerilla marketing 13. According to a 2000 BUSINESS WEEK article, “Smart Pricing” involves carefully choosing prices to stimulate demand without giving up profitability. This approach involves all except which one of the Following? a; Microeconomics f b; Driving prices towards marginal costs c. Buyer psychology d. Computing power to sort through data (“data mining”) 14. A \VALL S’I‘REETJOURNAL article discussed advertisements that consumers like, and concluded: :1. There’s a positive correlation between “liking” and increased sales b. Most consumers can remember dozens of“likeable” ads 5:5 Almost no consumers can actually recall any TV commericals d._ ' Ads which are popular don’t necessarily result in increased sales l 15. The San Francisco Symphony has a successful on—line ticket sales capability developed by Ticketweb. Selling tickets Over the Internet should he considered a: X/zt. Publicity stunt __ Channel of distribution . Personal selling device ' d. Sales Promotion 16. Why is there “no longer any such thing as Mass Marketing” according to lecture? a. Media Fragmentation h. Consumers demand products which exactly meet their needs Proliferation of product offerings {d}? All of the above '17. Which is true about voluntary exchanges in free markets . The seller usually wins b. The seller wins all the time c, The buyer is usually better off d. Both parties are better off 21 ugba-10 Module 1 4 18. W’hich of the following is not a basis of segmentation for [admired marketr? of: Psychographics h. Geography c. Firm size d. Industry 19. Aflac uses commercials featuring a talking, inquisitive, intrusive duck. According to lecture, although well—written commercials can help, the traditional method of promotion thought to be essential for Umozigbt Candi“ is: a. Direct Mail in. Public Relations Personal Selling d; Sales Promotion 20. Consumers will go out of their way for this type ofgoods and insist on a particular brand name: :1. Convenience “b. Specialty c. Shopping d. Unsought 2'1. W’hich of the Following is true about Sales Promotion? ./ a. Tends to rob sales from future periods .13? Is ineffective, but cheap w" C. 15 effective d. A and B are true A and C are true 22. Consumers find excessive Direct Promotion annoying and wasteful. Firms can avoid this by: r \ Only using Mass Media Advertising instead fl); “ Carefully targeting Direct Promotion c. Following up each piece of direct mail with a “courtesy call” d. Phoning first to ask if it is OK to mail 23. According to lecture, there should he no promotional expenditure: ($.33 Without a way to measure its effect b. Without a corresponding price increase c. Unless the product is a New Product d. For Unsought Goods 5 24. 25. 26. 27. 28. \‘i/hich of the Following statements is true about the New Prvdml Development Prams? i' afi b. e. d. ugba-10 Module 1 Most companies have too many ideas Most companies have difficulty coming up with New Product ideas Most companies skip test marketing these days None of the above is true ()ne of the following is not true about branding: 21. b. "d;- A brand represents a promise A brand is a communication from the manufacturer to the purchaser Brands reduce uncertainty for consumers Brands are unimportant now that consumers can shop—and—compare on—line You have a new product and notice competitors offering similar goods. You conclude you are entering the Growth stage of the Product Life Cycle. The eonventional—wisdom strategy is: a: i .b'. . CL. .rfd. l Cut prices to marginal costs and “bury” the competition Withdraw from the market Begin to coupon heavily Increase your promotional budget for mass media ads emphasizing product features \Vhen pricing goods, producers should: VET; .r’e. Ignore costs Be aware of costs Not price by a rigid percent markup on costs A and C are correct B and (I are correct \Ve have a new product that has unique benefits for consumers. \Ve are trying to ramp up production, but the factory is having some difficulty meeting anticipated demand. The product is likely to appeal to technologically sophisticated consumers. The appropriate pricing strategy or tactic is: 21. b. 9;}. {1 Bundling Odd-even pricing Penetration pricing Skimming ugba—10 Module 1 6 29. Which of the following is not usually a Function of intermediaries? {’55.} Obtaining government approval such as crash testing 5. Bulk breaking c. Storing goods until customers want to buy them d. Providing credit to consumers 30. Which of the Following is true about retailing? Internet sales now exceed traditional sales Department stores no longer have a clear role i There are too few retail outlets for most consumer goods in Northern California ,d. Prices in Northern California are some of the highest in the world 31. It; To promote an on campus party, your Fraternity had done the Following three things: printed fliers and posted them on campus Billboardsfémailed people who’ve .4 £27 4;. attended parties in the past, and sent pledges tor’éill‘on each sorority in the Greek system to extend a special invitation. You have used all except which part of the Promotion-.11 Mix? /a'./ Mass media advertising Jab.” Personal selling c. Direct promotion (rd. _ Sales promotion 0 32. This is version D; bubble in v1) for this question mic/write “D” in the identification section of your Scantron. vayau do :10! wow/erer qzrerlz'wzgwt [are #96 p01" No exceptions 0 h. r V p ,4 H 7 cc 1: 5.5.5 £5 E 2.. C... on... . 4r 4) 1. 1: «I . .. 2.. Z. 11.. .3 .. . 3 _ . ‘llu... ., y: 36 T) ,. i. it“! “3 Nu ...
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BA 10 - Marketing - Fall 2002 - Robinson - MARKETING Finn....

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