Devry BUSN319 Final Exam August 2015

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Devry BUSN319FinalExamAugust 2015QuestionQuestion 1.1. (TCO 4) Three commonly used methods of evaluating marketing programs aremarketing metrics, marketing dashboards, and (Points : 5)marginal analysis.marketing audits.marketing ROI.marginal analysis.marketing control boards.Question 2.2. (TCO 1) Ideally in effective marketing planning, goals should be _____ in terms ofwhat is to be accomplished and when. (Points : 5)loose and vagueas general as possibleflexible or elasticquantified and measurableNone of the aboveQuestion 3.3. (TCO 3) Which marketing strategy focuses on a single market segment but addsadditional product lines? (Points : 5)Full coverageMarket specializationProduct specializationSelective specializationMarket-product concentrationQuestion 4.4. (TCO 1) Based on relative competitive scope (broad target to narrow target) andsource of competitive advantage (lower cost to differentiation), Porter's four generic businessstrategies are differentiation, cost focus, differentiation focus, and (Points : 5)exclusivity.electronic-focus.quality focus.cost leadership.service leadership.Question 5.5. (TCO 1) Step 3 in the planning phase of the strategic marketing process is (Points :5)the situationanalysis.the market-product focus and goal setting.

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the marketing program.implementation.obtaining resources.Question 6.6. (TCO 1) The consumer products industry is one with several large competitors,soaring raw materials prices, and strong demands from powerful retailers for lower prices. As aresult, Colgate-Palmolive Co. and Unilever Group, the makers of products such as Colgatetoothpaste and Ben & Jerry’s ice cream, both reduced their earnings forecasts. Yet Procter &Gamble, another consumer products company, did not. At P & G, innovation is a key attribute,allowing the company to update all 200 of its brands and to invent products, such as CrestWhitestrips, that consumers crave. P & G has also used its marketing know-how to developunique product placements on television shows that highlight its brands. A SWOT analysis ofthis information for P & G would indicate that the overall industry situation is a _____, whereasthe invention taking place at P & G is a _____. (Points : 5)strength; weaknessweakness; threatthreat; strengthopportunity; threatopportunity; strengthQuestion 7.7. (TCO 3) All of the following steps are part of the planning process used to developan organization's advertising program, except (Points : 5)identify the target audience.specify the advertising objectives.write the advertising copy.calculate the marketing ROI.schedule the advertising program.Question 8.8. (TCO 2) The proper blend of elements in the promotional mix depends on the typeof product. The three specific characteristics to be considered are complexity, _____, andancillary services. (Points : 5)risksizedurabilityaccessibilityacceptabilityQuestion 9.9. (TCO 4) At which stage in the product life cycle would your promotional objectivebe to persuade the consumer to buy the product rather than substitutes? (Points : 5)Introduction

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GrowthIncubationDeclineMaturityQuestion 10.10. (TCO 2) The _____ can be used to inform prospective buyers about the benefitsof the product. (Points : 5)SWOTanalysismaturity stagemarketing matrixpromotional mixtarget audienceQuestion 11.11. (TCO 7) Which of the following statements about the terms used for marketingintermediaries is true? (Points : 5)The most precise terms used to describe marketing intermediaries are dealer and distributor.A retailer sells to consumers.An agent has no legal authority to act on behalf of a manufacturer.A wholesaler is an intermediary who sells to consumers.Broker is a synonym for a dealer.Question 12.12. (TCO 7) Which of the following statements about the legal and regulatoryaspect of pricing is true? (Points : 5)The Robinson-Patman Act deals with predatory pricing.The Consumer Goods Pricing Act is the only federal legislation that deals directly with pricingissues.The Sherman Act deals only with vertical price fixing.The Federal Trade Commission Act deals with predatory pricing, deceptive pricing, andgeographical pricing issues.The Consumer Goods Pricing Act and the Robinson-Patman Act deal with price discrimination.Question 13.13. (TCO 2) Which of the following is not one of the six major pricing objectives?(Points : 5)ProfitUnit volumeMonopolySurvivalMarket shareQuestion 14.14. (TCO 3) The ratio of _____ to price is called value. (Points : 5)perceived benefits

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prestige valuevalue-added pricingperceived revenueperceived costsQuestion 15.15. (TCO 6) Market segmentation involves aggregating prospective buyers intogroups that will respond similarly to a marketing action and (Points : 5)will pay attention to marketing messages.have common needs.be responsive to marketing research.use the same payment methods.go shopping on a regular basis.Question 16.16. (TCO 5) Which of the following statements about environmental scanning istrue? (Points : 5)Environmental scanning changes the marketing environment.Environmental scanning identifies and interprets potential trends.Environmental scanning is an annual event.Environmental scanning focuses primarily on geographical factors.All of the aboveQuestion 17.17. (TCO 1) The marketing department helps keep the organization focused oncreating value both for it and for customers. This is accomplished by (Points : 5)listening to customers.developing offerings.producing offerings.implementing marketing program activities.All of the aboveQuestion 18.18. (TCO 1) Which of the following acts as a barrier to the development ofrelationship marketing? (Points : 5)The large number of one-to-one relationships that customers are asked to sustainThe large number of products on the marketThe increasing number of retail stores that are closingThe changing regulatory environmentDiluted cultural diversityQuestion 19.19. (TCO 1) A local university in Lynchburg, VA offers an outstanding businessschool education. Cali pays the tuition to attend Daniels and earns her MBA with a concentrationin supply chain management. Upon graduating, she is offered a high-paying, fulfilling position.Was this a marketing exchange? (Points : 5)

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