Donna's philosophy as she coordinates the marketing efforts

Marketing Management Test Exam

BUS 505DE MARKETING MANAGEMENT

SPRING 2018 - FINAL EXAM

Instructor Douglas T. Hill

Instructions:

1. As a reply email list the answers 1-50 and your letter answers only. NO ATTACHMENTS, NO QUESTIONS, JUST NUMBERS AND LETTER ANSWERS

2. Send the email with your answers before 11:59pm of Sunday May 13, 2018. 3. This is an open note, open book exam. You may not collaborate with anyone. You must do this

alone. Sharing answers or collaborating with others in any way will result in a grade of 0.

1. If E = 1, demand is said to be ________. a. elastic

b. inelastic

c. unitary

d. invalid

2. What does it mean for demand to be “unitary?” a. prices go up or down but revenues remain about the same

b. prices remain the same but revenue goes up and down

c. prices and revenue change unpredictably

d. there is never a change in price or revenue

3. 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.

4. Which of the following is the formula for cost-plus pricing? a. (unit cost) / (1-X%)

b. (unit cost) x (1-X%)

c. (unit cost) + (1-X%)

d. (unit cost) - (1-X%)

5. If your fixed costs (including marketing, advertising, R&D, depreciation, etc.) are high

relative to variable costs (which include labor or unit components), the strategic objective is to: a. maximize per unit margins

b. eliminate advertising

c. maximize sales volume

d. raise the price as much as possible

6. (Price – variable costs) is also called ________. a. profit

b. contribution per unit to fixed costs

c. maximum sales volume

d. fixed price units per contribution

7. National Product Company is indecisive about what prices it should charge for items in its

new product line. The company wants the most accurate data on customers’ willingness-to-pay

for its products. By using ________, which can yield very precise estimates of demand and price

sensitivities at numerous price points, National Product Company can gather the data it needs to

set prices. a. survey data

b. conjoint analysis

c. online data

d. scanner data

8. All of the following are indicators of scanner data EXCEPT: a. which brands are bought

b. the quantities bought

c. product advertising

d. the paid price

9. A survey asks the following two questions:

Q1) $25.00 definitely would not buy 1 2 3 4 5 6 7 definitely would buy

Q2) $35.00 definitely would not buy 1 2 3 4 5 6 7 definitely would buy

There is a segment of people who are not really interested in the product regardless of the price.

What are their answers most likely to be?

a. Q1=2 or 3, and Q2=1 or 2

b. Q1=6 or 7, and Q2=5 or 6

c. Q1=4 or 5, and Q2=3 or 4

d. Q1=1 or 2, and Q2= 2 or 3

10. What is the marketing manager’s favorite tool to study pricing? a. conjoint

b. surveys

c. scanner data

d. meta-analysis

11. Most consumers wouldn’t drive very far to buy a pack of gum since it’s a lost-cost item that

is often bought on impulse. Therefore, this product needs to be distributed ________. a. intensively

b. selectively

c. paradoxically

d. partially

12. Some products are complicated and expensive, and require the help of a salesperson for a

customer to make a purchase decision. These product, therefore, need to be distributed

________. a. intensively

b. selectively

c. paradoxically

d. partially

13. What term refers to the extreme case of selectivity? a. distribution channel

b. exclusive channel

c. monopolistic channel

d. intensively channel

14. In push marketing, the manufacturer targets _________ rather than ________. a. consumers, channel members

b. channel members, consumers

c. men, women

d. women, men

15. Channel design is an integral part of all of the following EXCEPT: a. marketing

b. strategy

c. positioning

d. pricing

16. Consumers are said to pull goods through the channel, whereas trading partners

___________ the goods from the manufacturer on down the food chain. a. hold

b. throw

c. push

d. select

17. ___________ 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 marketing

b. Marketing

c. Promotion marketing

d. Push marketing

18. A perspective by which the benefits a company brings to its partners (beyond cost

reductions) are emphasized is referred to as _____________. a. TVA

b. TCA

c. governance cost

d. government cost

19. In the basic model of dyadic communication there are three parts. Which of the following is

NOT one of the parts? a. source

b. receiver

c. message

d. transfer agent

20. SnowBlowers, Inc. is targeting consumers in the northern regions of the U.S., and focusing

on giving consumer practical and function reasons to buy its snowblowers. What type of ad is

SnowBlowers, Inc. using? a. comparative

b. noncomparative

c. cognitive

d. emotional

21. SnowBlowers, Inc. expresses the benefits of using its snowblowers. What type of argument is

SnowBlowers, Inc. using? a. two-sided argument

b. one-sided argument

c. four-sided argument

d. three-sided argument

22. In a(n) ________, an advertisement emphasizes the positive benefits, but also acknowledges

either some product weakness or that a competitor dominates on some attribute. a. three-sided argument

b. one-sided argument

c. two-sided argument

d. four-sided argument

23. In a(n) ______, a brand is mentioned and its features, attributes, and image portrayal are

conveyed in the message. a. noncomparative ad

b. comparative ad

c. emotional ad

d. cognitive ad

24. In a(n) ______, the featured brand name is mentioned, as is the brand name of a competitor. a. cognitive ad

b. noncomparative ad

c. comparative ad

d. emotional ad

25. FunnyTime Products uses humor in its ads to communicate with its fun-loving consumers.

What type of ads does FunnyTime Products create? a. comparative

b. emotional

c. cognitive

d. noncomparative

26. Hite Enterprises avoids using negative emotions in its advertisements. Hite Enterprises likely

does not use emotions such as ________ to sells its products. a. happiness and excitement

b. sadness and loneliness

c. aches and pains

d. fear and embarrassment

27. Sears has an ad for Christmas trees in December. What type of ad is this? a. continuous

b. occasional

c. seasonal

d. annual

28. In the past, according to media and market research, after TV, which media did people

typically spend more time on per day? a. Magazines

b. Books

c. Newspapers

d. Radio

29. Donna’s philosophy as she coordinates her firm’s 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 of a. Integrated Marketing Communications

b. Intended Marketing Commitments

c. Media Reach

d. Media Response

30. Donovan Digital sells sophisticated high-tech products. Donovan Digital can best explain its

products in which media? a. radio

b. newspapers

c. TV

d. billboards

31. Which ad would be the least expensive? a. 30-second TV ad

b. 1 page, 1 day in metropolitan newspaper

c. 1 minute radio ad

d. full page color ad in BusinessWeek

32. Bill’s Surf Shop needs to advertise. Which option provides the largest frequency? a. TV

b. billboards

c. direct mail

d. the Web

33. Which medium yields the largest reach numbers? a. radio

b. billboards

c. the Web

d. TV

34. Ryan is a marketer for a computer gaming company. He wants to advertise the game’s new

graphics but doesn’t want to pay the high price of showing it off on TV. What medium should he

use? a. radio

b. billboards

c. magazines

d. newspaper

35. The easiest and most common way to characterize ________ in a social network is to count

the number of connections each actor has with the others in the network. a. linearity

b. extraversion

c. intelligence

d. centrality

36. Distributions of links in most networks follows a(n) _________ rule. a. 80/20

b. 50/50

c. 90/10

d. 60/40

37. What term refers to a homogenous sample of like-minded people within a network? a. clique

b. workgroup

c. club

d. team

38. Two actors are said to be_______ if their links to others are the same. a. heterogeneous

b. structurally equivalent

c. equitable

d. socially significant

39. Amazon.com uses structural equivalence to do which of the following? a. make product recommendations

b. keep credit card information secure

c. encourage users to write product reviews

d. deliver purchases

40. In a cluster analysis, the rows represent _________, and the columns represent ________.

a. customers, SKUs

b. SKUs, customers

c. retailers, customers

d. customers, retailers

41. Recommendation agents are a boon as a systematic means of _______. a. saving money

b. reaching new customers

c. soliciting feedback

d. cross-selling

42. Many CEOs do not understand the attraction of social media because of how _______ they

are. a. uneducated

b. old

c. wealthy

d. intelligent

43.. The most trusted source of expectations is: a. word-of-mouth.

b. a consumer’s own experience.

c. friends.

d. family.

44. When a consumer does not have much personal experience with a realtor (for example, a

first-time home buyer), he will form expectations from ______. a. an extrapolation of past experiences with professional service providers

b. newspaper articles

c. his last visit with his doctor

d. an extrapolation of past experiences with service industry staff

45. When we have a situation where we do not have much experience with a brand, we seek

people ______. a. who are brand ambassadors

b. who are smart

c. who we are related to

d. who we trust

46. Information originating from the marketing mix of a company that contributes to a

consumer’s expectations may include _______. a. positioning claims made in advertising

b. suggestions of quality based on the price of a product

c. trust-worthy data on product quality

d. positioning claims made in advertising and suggestions of quality based on the price of a product

47. What do customers evaluate when making a purchase? a. core

b. service

c. core and service

d. core, service, and supplemental

48. If the core part of the purchase is________. a. good it decreases satisfaction

b. good it increases satisfaction

c. bad it increases dissatisfaction

d. bad it does not affect satisfaction

49. _______ factors are actions that go above and beyond customer expectations. a. Motivating

b. Hygiene

c. Extra

d. Bonus

50. The VP of Customer Experience at an international hotel chain is constantly looking for ways

to improve customer service, whether it be at check-in, room service, concierge services, check-

out, etc. This is important because customers generally evaluate companies and brands based on

_______. a. time components

b. search effort

c. points of interaction

d. value-added supplemental components