University of Phoenix

Final Exam MKT571

28/30

1)_seeks to create brand awareness among consumers and communicate to them about new products or new features of existing products.

2)                        divides the market into units such as nations, states, regions, cities, or neighborhoods.

3.  The                     encompasses the actors engaged in producing, distributing, and promoting a product or a service.

4. Which of the following statements is true of personal communications channels?

5. Which of the following is a difference between business markets and consumer markets?

6. Which of the following statements is true of fads?

7. A customer-focused                       presents a strong, convincing reason why the target market should purchase a product or service.

8. In which of the following stages of a product life cycle are profits nonexistent?

1. 1. 1. is the first step a firm should take while setting the price for a product.

9. A firm should use undifferentiated marketing to promote its products when: all consumers have roughly the same wants and preferences.

10. The width of a company’s product mix refers to:

11. The marketing department of StyleWheel Inc., a manufacturer of luxury cars, initiates intensive marketing efforts prior to the launch of a new model.

12. months into the launch of the new model, the department decides to assess the short-term effects of its marketing activities. Which of the following is a reliable measure of performance for this purpose?

13. Nowadays, a                is being appointed by many firms so as to place the marketing function on a more equal footing with the functions performed by other C-level executives.

1. 1. is one of the methods used to develop ideas for a new product in which each feature of an existing product is noted and modified.

14. A company that interacts with its customers to get product ideas should:

15. Which of the following measures reflects the short-term results of a firm’s marketing efforts?

16. The               refers to the core business process in which an organization researches, develops, and introduces novel, high-quality products quickly and within the firm’s budget.

17. Entities that assist in the distribution process of a product but neither take title to goods nor engage in the negotiation of purchases or sales are called                                                                               .

Facilitators

1. 1. is the process of maximizing customer loyalty by cautiously handling detailed information about customers and all customer touch points.

18. A fundamental and distinctive mode of expression that appears in a field of human endeavor is called a      .

19. When marketers combine an existing brand with a new brand, the product is called a           .

20. Which of the following statements is true of a sharing economy?