MKT 100 EXAM 2 (40/40) 100% SCORE

Question 1 What term is used to describe an experiment run by an ad agency where the ad agency will recruit consumers to come watch a TV series and commercials like those for Cheerios? The consumer will then answer questions about the ads and the agency uses the responses to determine how well the ads will do in the real world.A. focus groupsB. SamplingC. copy testingD. ad concept testingQuestion 2 In a(n) ______, the featured brand name is mentioned, as is the brand name of a competitor.A. cognitive adB. noncomparative adC. comparative adD. emotional adQuestion 3 AIDA represents attention, interest, desire and _______.A. actionB. assessmentC. attitudeD. accountabilityQuestion 4 If the advertising goal is to increase awareness, what type of ad should be run?A. an ad with lots of humorB. an ad with lots of informationC. an ad with a celebrity endorsementD. an ad with a combination of information and actionQuestion 5 Saffire Clothing’s ads claim that the brand is an exclusive, premium brand. Saffire’s products need to be _______, priced relatively high, and distributed relatively exclusively.A. TrendyB. high qualityC. StylishD. well knownQuestion 6 Profit maximization occurs when marginal revenue equals ______.A. marginal profitB. marginal saleC. marginal costD. none of theseQuestion 7 Which of the following is NOT true about the price-sensitive segment?A. They are deal-prone.B. They will run to competitor if we raise prices.C. If prices get too high, they may completely drop out of the category.D. They’ll buy our brand no matter what.Question 8 Which of the following is NOT one of the three ways for companies to set prices?A. medium pricesB. high pricesC. low pricesD. discretionary pricesQuestion 9 Which of the following is true about competitive pricing?A. It is set by covering costs and then adding some margin.B. It is set by covering costs only.C. It is set by figuring out just how much a customer is willing to pay, and pricing near that mark.D. It is at a medium level, somewhere in between extremes, using competitors’ prices as a starting point, and adjusting from there. Question 10 If a change in price barely effects demand, that means the demand is _______.A. SuppliedB. InelasticC. UnstableD. RelativeQuestion 11 Typically, a focus group should include ________ customers.A. 2-4B. 4-6C. more than 15D. 8-10Question 12 Conjoint studies are run to understand how consumers make __________.A. MoneyB. trade-offsC. ObservationsD. ImpressionsQuestion 13 Which of the following is NOT typically true about focus group members?A. They get paid.B. They share opinions about advertisements.C. They are consumers.D. They set aside a full day to participate in the group.Question 14 __________ are used by companies to get a sense of how customers view a company or brand in the marketplace.A. ClustersB. AdsC. Positioning studiesD. Strategic marketersQuestion 15 For any ad, what is a question that needs answered?A. Who is the target audience?B. What is the selling price?C. What is the product placement?D. Who is the brand advocate?Question 16 What is a coupon is an example of?A. sponsorshipB. sales promotionC. product placementD. brand advocateQuestion 17 National Electronics makes hearing aids. They created one humorous ad, and they made another ad that explained how the device will make the user’s life better. These 2 ads are an example of ____ across media and messages.A. poor designB. MarketingC. IntegrationD. SynergyQuestion 18 Donna’s philosophy as she coordinates the marketing efforts is to keep in mind the company’s overarching strategy, and to ensure that all marketing activities send a consistent message, beginning with the communications but also including the other marketing mix elements. Based on this information, Donna is most likely a proponent ofA. Integrated Marketing CommunicationsB. Intended Marketing CommitmentsC. Media ReachD. Media ResponseQuestion 19 A fairly subtle approach to advertising is _____.A. product placementB. television advertisingC. radio advertisingD. integrated marketing communicationsQuestion 20 Amazon.com uses structural equivalence to do which of the following?A. make product recommendationsB. keep credit card information secureC. encourage users to write product reviewsD. deliver purchasesQuestion 21 Word of mouth feels _______ to consumers.A. BoringB. PhonyC. AnnoyingD. AuthenticQuestion 22 Which of the following is the percent of sessions for which a visitor lands on the website and views only one page before quickly leaving?A. FrequencyB. bounce rateC. DurationD. rejection rateQuestion 23 What is the main goal for users of Facebook?A. seeking jobsB. getting advice from expertsC. sharing slices of life with friendsD. collaborating Wiki contentQuestion 24 When the decisions seem overwhelming, we should simplify and remember that the key to marketing is to think about the ___________.A. sales forceB. bottom lineC. CustomerD. mission statementQuestion 25 When a firm is coordinating the flow of all goods, services and information among channel members, and throughout the channel, it is referred to as:A. supply chain managementB. distribution channelC. LogisticsD. flow marketing.Question 26 Barnes & Noble started as a retailer but then opened warehouses to stock books and later began publishing “classics” with its own imprint. This is an example of which of the following?A. revenue sharingB. forward integrationC. push marketingD. backward integrationQuestion 27 Apple computers used to be in the business of manufacturing only, but then they opened Apple stores. This is an example of which of the following?A. revenue sharingB. forward integrationC. franchisingD. backward integrationQuestion 28 ___________ strategies are incentives a manufacturer offers to its distribution partners such as dealers, wholesalers, retailers, and the like to sell products to the end users.A. Pull marketingB. MarketingC. Promotion marketingD. Push marketingQuestion 29 Comparing a purchase to expectations occurs when the item purchased is comprised primarily of ________ characteristics.A. customer lifetime valueB. search, experience, or credenceC. QualityD. value, price, or qualityQuestion 30 CRM programs are tools used by companies to track spending by collecting information, such as customer identification and contact information, and some form of information on the RFM of the customers’ purchase history. What does RFM represent?A. Recency Frequency MonetaryB. Recency Financial MonetaryC. Retention Frequency MemoryD. Retention Financial MemoryQuestion 31 For______ purchases like vehicles, the comparative evaluation process is typically quite deliberative and conscious.A. high-involvementB. QuickC. low-involvementD. B2BQuestion 32 Susan visits the office of a local attorney to have a will drawn up. She has never hired an attorney before, but thinks that this particular attorney is doing a good job based on his professional demeanor and fancy office. Susan’s hiring of the attorney is best described as a ________ purchase.A. QualitativeB. SearchC. ExperienceD. CredenceQuestion 33 A marketing plan for a company begins with an assessment of ______.A. how things have progressed up to this pointB. where things currently standC. where we want things to goD. the mission statementQuestion 34 Deciding on your ideal distribution system relates to which of the 4Ps?A. ProductB. PriceC. PlaceD. PromotionQuestion 35 Marketing plans are often viewed as ______.A. WorkbooksB. carved in stoneC. works in progressD. promotional toolsQuestion 36 If a company segments customers by gender, age, education, and income, then in your marketing plan, you should specify that your company bases its segmentation on __________ factors.A. DemographicB. GeographicC. PsychologicalD. BehavioralQuestion 37 Which strategy in the Ansoff Product-Market Growth Matrix combines current markets and current products?A. market developmentB. product developmentC. market penetrationD. diversifyQuestion 38 Looking for suppliers who are cheaper than our current ones but still high quality is an example of a way to ___________.A. increase sales volumeB. change our pricesC. decrease variable costsD. decrease fixed costsQuestion 39 What are the two dimensions measured in the General Electric Model?A. market risk and business flexibilityB. market flexibility and business riskC. market strength and business attractivenessD. market attractiveness and business strengthQuestion 40 Karen is working on classifying all her company’s products in terms of whether they have strong or weak market share and whether this share is in a slow or growing market. What type of strategic framework is she using?A. Ansoff Product-Market Growth MatrixB. BCG MatrixC. The General Electric ModelD. Porter and Strategies