MRKG 1311- Principles of MarketingFinal ExamInstructor: Sarah Felmet1) Which of the following is one of the eras of marketing? (1 point) The historical marketing era The sales oriented era The services oriented era The marketing mix era2) Which of the following are channels of marketing? (1 point) B2B C2C C2B B2C All of the above 1 only 1 and 3 only 1, 2 and 4 only 3) Step 3 in the implementation phase of the strategic planning process involves which of the following? (1 point) Positioning Pricing Placement Promotion4) Which of the following are growth strategies? (1 point) Market development strategy Operational excellence strategy Product excellence strategy Diversification strategy 1 and 2 only None of the above 4 only 1 and 4 only 5) Which of the following is not included in the Micro environment? (1 point) The climate The company The corporate partners The competition6) What are the two types of culture when considering the macro environment?
(1 point) Regional culture Personal culture Religious culture Country culture 1 and 2 4 and 1 2 and 3 1 and 3 7) Diversification strategy focuses on current markets and products (1 point)T or F8) In external research, (1 point) The consumer does internal reflecting Actual research such as internet search is done by the consumer The consumer uses psychology to determine whether or not to purchase Situational factors are a huge factor9) The term counter trade refers to: (1 point) Trading goods for money Trading goods for goods Changing your mind about trading goods Refusing to sign a trade agreement10) Which of the following is a type of global marketing opportunity?
(1 point) Quota Licensing Franchising Direct Experience11) The first step in a market research project is: (1 point) Data Collection Design the research project Define the research objectives Present the results12) Stage 4 in the international market entry evaluation process is: (1 point) Country identification Direct experience In depth screening Final Selection13) Infrastructure and technology are factors in assessing global markets (1 point) T or F14) In transfer pricing, the ________________ based manager sets the price but an international subsidiary can change it (2 points)15) Which of the following is an example of a segmentation strategy?(1 point) Demographic segmentation strategy Concentrated Segmentation Strategy Macromarketing Symbolic Strategy16) Export pricing is a form of international pricing approaches (1 point)T or F17) Tariffs are considered: (1 point) A tax A marketing firm To be illegal To be something that every marketing form wants18) Fill in the blank (2 points)Government’s actions can affect marketing in terms of ________________ practices19) Fill in the blank (1 point)________________ is a strategy used by a firm to focus on the excellent services for the customer to retain loyal customers20) What do the letters “FTC” stand for? (1 point)______________________________________________ 21) Promotion of a product involves: (1 point) Creating value for the product Determining where the product will be sold Focusing of the value of the product Considering the competitor’s price22) The following are the steps for the framework for ethical decision making Select a course of action Identify the issues Brainstorm alternatives Gather information and identify who it affects Pick the order within which they should be used (1 point) 1, 2, 3, 4 1, 3, 2, 4 2, 4, 3, 1 4, 1, 2, 3 23) Identity theft and privacy issues are a part of the social trends (1 point)T or F24) It is not necessary to apply ethics to phase 1 of the strategic planning process but it is necessary to apply it to phases 2 and 3 (1 point)T or F25) Product depth is most associated with: (1 point) The categories of a product The value of a product The company’s stocks The lines of a product26) Fill in the blank: (1 point)When you increase the breadth you are increasing the number of _____________ to a product27) Private Labels are: (1 point) Brands that are used when a firm repositions itself Those that involve mixing of brands Those that are sold in stores and made by the stores Labels used when packaging28) Branding helps establish loyalty and confidence (1 point)T or F 29) Fill in the blank: (2 points)Innovation is the process by which ______________ become new ______________30) When generating an idea, the use of a R&D consortium is not considered (1 point) T or F 31) Which of the following are stages in the life cycle of a product? (1 point) Introduction Stage Evaluation Stage Marketing Stage Testing Stage32) Services are considered: (1 point) Expensive Unnecessary Hard to Market Perishable33) Training is a way to reduce the standards gap (1 point)T or F34) The first C in the 5 C’s of pricing refers to: (1 point) Change Company Stock Company objective Curve35) The demand curve is an inverse correlation (1 point)T or F36) Name two things other than the 5 C’s that can affect pricing (2 points)________________________________ ________________________________ 37) In price skimming, the _____________ price is high (1 point) End Seasonal Market Initial38) Fill in the blank (1 point)Market penetration pricing refers to setting an initial ____________ price as the introductory price39) Markdowns is not a pricing tactic (1 point)T or F40) Price fixing involves companies collaborating with each other (1 point)T or F41) Companies and Retailers can use electronic trading to: (1 point) Expand their trade area Buy out other retailers Make their product more expensive Eliminate brick and mortar retailers42) Noise occurs when there is a difference between the _________________ and the _______________________ (2 points)43) In personal selling there is a _____________ communication between buyer and seller (1 point) One way Two way Decoding Persuasive44) Using public relations is a paid form of communications (1 point)T or F45) Cinema is considered a medium in advertising (1 point)T or F46) Loyalty programs are associated with which of the following: (1 point) Sweepstakes Contests Credit cards Samples47) The personal selling process is a ________ step process (1 point) Two step Three step Four step Five step48) When managing a sales department, one of the things to consider is (1 point) The color of your offices The height of the people you hire Training for your salespeople Always to have meetings once a week49) The sales call can also be a sales presentation (1 point)T or F50) Name two things that we market (2 points)I. ___________________________II___________________________51) List the 3 phases in the strategic planning process (3 points)__________________________ __________________________ __________________________ 52) The letters H.D.I. Stand for which of the following? (1 point)A. Human Decline IndexB. Human Development IndexC. Human Development InstitutionD. Home Decline Index53) List 3 of the 5 types of segments (3 points)____________________________ ____________________________ ____________________________54) List the 3 factors that are considered in the H.D.I. (3 points)____________________________ ____________________________ ____________________________ 55) Variability refers to the ________________ of service (1 point) Price Quality Type Amount