MKT 421: Final Exam Review - Marketing Concepts and Strategies - Solved Assignments | Marketing

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MKT 421: Final Exam Review-Marketing Concepts and StrategiesMKT 421 Final Exam, Latest1. A producer might use a "pulling policy" rather than a "pushing policy" if:Intermediaries are reluctant to handle a new product.Its sales force has beenvery successful getting wholesalers and retailers to handle its product.It has a very limited promotion budget.It is offering a very "high-tech" product to a small product-market.2. When new product ideas are chosen based on ratings and comments from customers, thisprocess is called ______.Creative resourcingIdea engineeringReaction engineeringCrowdsourcing3. The primary purpose of branding is:To prevent competitors from stealing product ideas.To boost customer satisfaction.To identify a product.To enhance package design.4.The company tries to follow an organized new-product development process—rather thanusing a faster and more spontaneous, "race-to-market" approach.The managers worry too much about the competition.The product fails to offer the customer a unique benefit.The company delays putting the product on the market until it develops a complete marketingplan.

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5. Genetech Corp. has invested heavily to develop a patented new product. Genetech wants toachieve a rapid return on its investment. It probably should set a ______________ pricingobjective.Status quoTarget returnProfit maximizationSales-oriented6. In the American Marketing Association's Statement of Ethics, which ethical value stresses afirm's attempts tobalance the needs of its buyers with the interests of sellers?ResponsibilityCitizenshipFairnessHonesty7. David Oreck advertises Oreck vacuum cleaners via commercials that run on national radioprograms. He encourages consumers to "…try my 8-pound Oreck vacuum for free for 30 days,"and to return it if they aren't satisfied. He then provides an easy-to-remember toll-free telephonenumber that consumers can use to place orders. Regarding the AIDA model, the free-trial periodand availability of a toll-free number are devices used mainly to:Get attention.Arouse desire.Obtain action.Hold interest.8. Most firms in the business world set their prices using:Supply and demand analysis.Federal price guidelines.Cost-oriented price setting.Demand-oriented price setting.9. Compared with other approaches to business, the marketing concept is distinct in that it:

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