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Strategic Marketing Principles: Concepts, Strategies, and Evaluation

Covers key concepts and strategic approaches in marketing.

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    Running head: MULTIPLE QUESTIONS 1 Strategic Marketing Principles: Concepts, Strategies, and Evaluation MULTIPLE QUESTIONS Student’s name Professor’s name, Course title D ate (TCO 4) Three commonly used methods of evaluating marketing programs are marketing metrics, marketing dashboards and (Points : 5) marginal analysis. marketing audits. marketing ROI. marginal analysis. marketing control boards. 2. (TCO 1) Ideally, in effective marketing planning, goals should be __________ in terms of what is to be accomplished and when. (Points : 5) loose and vague as general as possible flexible or elastic quantified and measurable

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    MULTIPLE QUESTIONS 2 none of the above 3. (TCO 3) Which marketing strategy focuses its efforts on a single product line and market segment? (Points : 5) full coverage market specialization product specialization selective specialization market - product concentration 4. (TCO 1) Based on relative competitive scope (broad target to narrow target) and source of competitive advantage (lower cost to differentiation), Porter’s four generic business strategies are differentiation, cost focus, differentiation focus, and (Points : 5) exclusivity electronic - focus. quality focus. cost leadership. service leadership. 5. (TCO 2) Which of the following pieces of information is used in the implementation phase of the strategic marketing process? (Points : 5) corporate return on investment marketing research reports

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    MULTIPLE QUESTIONS 3 revenues associated with each point of market share trends in past and current revenues for industry and competitors in total and by segment possible cannibalization effects on other products in the line 6. (TCO 6) Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process? (Points : 5) corporate return on investment market share for the product revenues associated with each point of market share projection of future sales, expenses, and profits possible cannibalization effects on other products in the line 7. (TCO 3) When developing the advertising program, which step helps advertisers with other choices in the process such as selecting media and evaluating a campaign? (Points : 5) identify the target audience specify the advertising objectives design the advertising pretest the advertising schedule the advertising program 8. (TCO 2) The proper blend of elements in the promotional mix depends on the type of product. The three specific characteristics to be considered are __________, risk, and ancillary services. (Points : 5) Complexity

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    MULTIPLE QUESTIONS 4 Size Durability Accessibility Acceptability 9. (TCO 4) The promotional objective of the decline stage of the product life cycle is to (Points : 5) inform persuade compare remind do none of the above. 10. (TCO 2) The __________ can be used to inform prospective buyers about the benefits of the product. (Points : 5) promotion channel communication chain marketing matrix promotional mix media mix 11. (TCO 8) Which of the following statements about the terms used for marketing intermediaries is true? (Points : 5) The least precise terms used to describe marketing intermediaries are dealer and distributor.

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    MULTIPLE QUESTIONS 5 A retailer sells to business markets. An agent has no legal authority to act on behalf of a manufacturer. A wholesaler is an intermediary who sells to consumers. A broker is a synonym for a dealer. 12. (TCO 7) Price fixing is (Points : 5) an arrangement a manufacturer makes with a reseller to handle only its products and not those of a competitor. the practice of charging a very low price for a product with the intent of driving competitors out of business. the practice of charging different prices to different buyers for goods of like grade and quality. a conspiracy among firms to set prices for a product. a seller’s requirement that the purchaser of one product also buy another product in the line. 13. (TCO 2) Pricing objectives may change depending on (Points : 5) the financial position of the company as a whole. the success of company products . the segments in which the company is doing business. where the company is doing business by country. all of the above. 14. (TCO 3) The ratio of perceived benefits to price is called (Points : 5) the price - quality relationship.

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    MULTIPLE QUESTIONS 6 prestige pricing. value - added pricing . value value analysis. 15. (TCO 6) Market segmentation involves aggregating prospective buyers into groups that have common needs and will (Points : 5) pay attention to marketing messages. respond similarly to a marketing action. be responsive to marketing research. use the same payment methods. go shopping on a regular basis. 16. (TCO 5) Which of the following statements about environmental scanning is true? (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 above statements about environmental scanning are true. 17. (TCO 1) A key role of the marketing department is to (Points : 5) allocate financial resources across business units. set the overall mission of the company.

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    MULTIPLE QUESTIONS 7 provide talent management services. look outward . assess global political situations. 18. (TCO 1) Which of the following acts as a barrier to the development of relationship marketing? (Points : 5) the large number of one - to - one relationships customers are asked to sustain the large number of products on the market the increasing number of retail stores that are closing the changing regulatory environment diluted cultural diversity Page: 1 2 3 Time Remaining: Week 8 : Final Exam – Final Exam Time Remaining: Page: 1 2 3 Analysis and Application of Marketing Concepts

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    MULTIPLE QUESTIONS 8 There are 15 multiple choice questions worth 8 points each designed to test your ability to analyze and apply the marketing concepts you have learned in this couse. Take your time and consider your answers carefully. 1. (TCO 1) Your neighbor is tired of conventional soft drinks and wants something different. Coincidentally, Cadbury Beverages, Inc. has begun distributing Country Time lemonade through the supermarket at a price comparable to that of soft drinks. Which of the conditions needed for marketing to occur is described in this situation? (Points : 8) The creation of unrealized needs Two parties with unsatisfied needs One - way communication A physical location for an exchange to take place Time and place utility 2. (TCO 6) Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat and, small slices of cheese. Some versions contain Capri Sun drinks. Others are called Cracker Stackers and Fun Fuel. The box is bright yellow and the quantity of food contained within is small. The target market for Kraft Lunchables is most likely (Points : 8) Moms of school - age children Business people looking for a quick snack

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    MULTIPLE QUESTIONS 9 Business travelers Teenagers Seniors 3. (TCO 3) The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes used in the old - fashioned cookies the company produces and markets. This statement deals with which part of the marketing mix? (Points : 8) Product Process Price Place Promotion 4. (TCO 5) Google’s myspace.com is a social network that is targeted primarily to people under the age of 25. Increasing use of myspace.com as a networking tool for this target market is an example of how __________ forces impact the marketing (Points : 8) Economic Competitive Social Regulatory

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    MULTIPLE QUESTIONS 10 5. (TCO 7) A car collector, Mr. F. Hansen, who said his 1975 Chevrolet Corvette was certified as the last Corvette convertible to be produced, sued General Motors to stop it from manufacturing any more of the convertible sports cars. The suit also requested $1.5 million in damages. Hansen claimed he bought the car for its collector’s value. It came with a letter from GM dated August 25, 1975, that said the car was “the last Corvette convertible that General Motors Corp. would ever manufacture”. Hansen said the value of his car has been decreasing ever since GM resumed manufacturing Corvette convertibles in 1985. If the court ruled in favor of Mr. Hansen, what general type of regulation would such a ruling represent? (Points : 8) Protecting companies from one another Protecting consumers from unfair trade practices Protecting the future interests of society from dangerous business practices Protecting consumers from one another Protecting businesses from unfair consumer practices 6. (TCO 6) Graham - Field Health Products makes hospital beds and wheelchairs from component parts and materials it buys. It sells its products to hospitals, nursing homes and retailers of health care products. Graham - Field Health Products operates in a(n) __________ market. (Points : 8) Consumer Government

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    MULTIPLE QUESTIONS 11 Industrial Reseller Demographic 7. (TCO 1) The Book Promoters Association of Canada members recently questioned what could be done to rejuvenate the Canadian book publishing industry. Some members claimed the problem was Canadian retailers had been replaced by Wal - Marts. Others said the problem was with stodgy promotions. Still others said the problem was caused by too little money being budgeted to fund marketing programs. It was time that Canadian book publishers used __________ to save the industry. (Points : 8) Advertising Sales promotion Publicity Marketing research Tactical support 8. (TCO 3) The Belsen interview is a means of pretesting media surveys. It gathers facts and figures by asking people about their attitudes, beliefs and awareness of various media. With this technique, the respondent is interviewed twice — first by an interviewer using the proposed survey and then by a different interviewer, who asks questions about the survey itself. The Belsen interview uses __________ data. (Points : 8)

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