Marketing Final Exam

A product is the physical unit the warranty the

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Unformatted text preview: e warranty, the service, brand name, company image, value, and many other factors. PTS: 1 REF: 25 Thinking KEY: CB&E Model Product OBJ: 02-8 TOP: AACSB Reflective MSC: BLOOMS Application 118. Refer to DeFeet International. DeFeet’s _____ includes retailers and online retailers throughout the world. a. product strategy b. place strategy c. price strategy d. promotion strategy e. positioning strategy ANS: B In this example, place is the physical distribution of DeFeet’s product. PTS: 1 REF: 25-26 Thinking KEY: CB&E Model Distribution OBJ: 02-8 TOP: AACSB Reflective MSC: BLOOMS Application 119. Refer to DeFeet International. DeFeet’s _____ is what its customers give up to obtain their apparel. a. product b. place c. price d. promotion e. positioning ANS: C Price is what buyers give up to obtain a product. PTS: 1 REF: 26 Thinking KEY: CB&E Model Price OBJ: 02-8 TOP: AACSB Reflective MSC: BLOOMS Application 120. Refer to DeFeet International. DeFeet’s _____ includes advertising, public relations, sales promotion, and personal selling. a. product b. place c. price d. promotion e. position ANS: D Promotion includes advertising, public relations, sales promotion, and personal selling. PTS: 1 REF: 26 Thinking KEY: CB&E Model Promotion OBJ: 02-8 TOP: AACSB Reflective MSC: BLOOMS Application Novartis Novartis, a Swiss drug maker, is planning to purchase a majority stake in Zhejiang Tianyuan BioPharmaceutical Company, a Chinese vaccine maker. Novartis has agreed to pay $125 million for the company, which holds a 3 percent share of China’s $1 billion vaccines market. The market for vaccines is growing 20 percent or more in the developing nations of Asia, Africa, and Australasia. In the past, vaccine use has been limited to basic shots against diseases such as polio, tuberculosis, and measles, but as the economies of these countries grow, government and private healthcare spending focuses on preventing diseases such as hepatitis B, cholera and rotavirus, tetanus, and others. Some critics are against the acquisition, claiming that prices will increase. Novartis claims it is not interested in raising prices but rather in expanding Tianyuan’s product offerings. 121. Refer to Novartis. Novartis is creating and maintaining a fit between its objectives and resources and evolving market opportunities in developing countries. Novartis is engaging in: a. strategic planning b. selective assessment c. functional planning d. environment scanning e. decision analysis ANS: A Strategic planning is the managerial process of creating and maintaining a fit between the organization’s objectives and resources and evolving market opportunities. PTS: 1 REF: 15 Thinking KEY: CB&E Model Strategy OBJ: 02-1 TOP: AACSB Reflective MSC: BLOOMS Application 122. Refer to Novartis. If Novartis goes through with the purchase of Tianyuan, it will become a subgroup of its overall pharmaceutical business and organization. Tianyuan will then be considered a _____ of No...
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