Arizona State University MKT 300 – Marketing and Corporate Performance Summer 2013-Online Exam 1 1)A product or group of products within an organization that have a distinct mission and specific target markets, control their own resources and have their own individual competitors is best known as a(n):   a)            SWOT Analysis b)            Strategic Opportunity Matrix c)            Usage Segmentation Strategy d)            Strategic Business Unit   2

Arizona State University

MKT 300 – Marketing and Corporate Performance

Summer 2013-Online Exam 1

1)A product or group of products within an organization that have a distinct mission and specific target markets, control their own resources and have their own individual competitors is best known as a(n):

 

a)            SWOT Analysis

b)            Strategic Opportunity Matrix

c)            Usage Segmentation Strategy

d)            Strategic Business Unit

 

2.            Which of the following about the Theory of Reasoned Action (TORA) is most likely false?

 

a)            TORA is most useful in predicting behavior in peripheral-route processing

b)            TORA allows marketers to understand how to target changing existing consumer beliefs

c)            TORA works best in situations when product knowledge and confidence is high

d)            Understanding one’s beliefs is a key component to predicting behavioral intentions

 

3.            VALS, a tool for marketing researchers, utilizes which type of segmentation base?

 

a)            Psychographic segmentation

b)            Benefit segmentation

c)            Usage rate segmentation

d)            Demographic segmentation

 

4.            Coca-Cola used to have a Mountain Dew-like soft drink called Surge. Several years ago they stopped making this product but have remained in the soft drink business. Therefore they were most likely employing which consolidation strategy?

 

a)            Divesting

 

b)            Relational

c)            Pruning

d)            Retrenchment

 

5.            This demographic target market has been described as viewing TV ads as “just advertising” and has also been referred to as the “most influential generation in history.” The target market described above is most likely:

 

a)            Tweens

b)            Baby Boomer

c)            Generation X

d)            Generation Y

 

6.            Which of the following most accurately describes trends in American households over the last generation?

 

a)            Average household size has increased and number of total households has increased

b)            Average household size has increased but number of total households has decreased

c)            Average household size has decreased but number of total households has increased

d)            Average household size has decreased and number of total households has decreased

 

7.            College students have always been a large segment of the energy drink market. In effort to better meet the needs of this segment, Red Bull has added Red Bull cola to its energy drink line. Adding this item geared toward college students best describes which type of strategy?

 

a)            Diversification

b)            Product development

c)            Market penetration

d)            Market development

8.            A rental car company that segments by customer usage rate and rewards frequent renters with additional services is using which type of segmentation strategy?

 

a)            Needs

b)            Psychographic

c)            Demographic

d)            Behavioral

 

9.            The Four P’s of price, product, place and promotion is most often called:

 

a)            Marketing mix

b)            Corporate strategy

c)            Strategic market plan

d)            Strategic business unit

 

10.          The strategy of employing a Global standardization approach of one’s products is best when the situation across different markets calls for the:

 

a)            Different product, different message

b)            Same product, same message

c)            Same product, different message

d)            Different product, same message

 

11.          According to class which statement regarding segmentation is most accurate?

 

a)            Psychographics attempt to understand individual differences

b)            Lifestyles, activities and opinions describe segmenting the market by needs

c)            Demographics are sufficient to understand the target market

d)            Demographics attempt to discover how individuals are dissimilar

 

 

12.          Of the following, which age group has declined (by overall

 

percentage) the most over the period of 1900-2000?

 

a)            Under 15

b) 15-24

c) 25-44

d) 45-64

 

13.          SBUs that are market nichers in high growth industries are classified as:

 

a)            Stars

b)            Question marks

c)            Dogs

d)            Cash cows

 

 

14.          Which of the following directions for strategic efforts would be best described in a situation with many internal weaknesses and many external threats:

 

a)            Aggressive ?internal strengths and external opportunities?

b)            Defensive (internal weakness and external threats)

c)            Turnaround (internal weakness and external opportunities)

d)            Diversification ( internal strengths and external threats)

 

15.          A firm’s microenvironment consists of all of the following EXCEPT:

 

a)            Social changes

b)            Suppliers

c)            Consumers

d)            Competitors

 

16.          Wal-Mart has become the leading discount retailer in the United States by focusing on satisfying customer’s needs and wants.

This philosophy is best described by:

 

a)            Retail orientation

b)            Sales orientation

c)            Production orientation

d)            Market orientation

 

17.          Private-label manufacturing by a company in a foreign country is best described by:

 

a)            Contract manufacturing

b)            Joint venture

c)            Licensing

 

d)            Exporting

 

18.          The managerial process of creating and maintaining a fit between the organization’s resources and evolving market opportunities is best described by the term:

 

a)            Strategic planning

b)            Marketing

c)            Brand positioning

d)            Competitive advantage

 

19.          Cannibalization would most likely be associated with which target market selection strategy?

 

a)            Undifferentiated

b)            Micro

c)            Niche

d)            Differentiated

 

 

20.          Market orientation was defined in the modules as consisting of all of the following EXCEPT:

 

a)            Having a coordinated response

b)            Employing both a social and economic justification for their existence

c)            Disseminating knowledge to the rest of the organization

d)            Gathering market information

 

21.          Which of the following is least likely to be included in determining one’s level of social class in the United States?

 

a)            Occupational status

b)            Gender

c)            Educational attainment

d)            Family income

 

22.          Selecting the most appropriate markets in the STP process is best defined by:

 

a)            Targeting

b)            Segmenting

c)            Positioning

d)            Situational Analysis

 

23.          Which of the following is not accurate about business markets when compared to consumer markets?

 

a)            There are more customers (buyers) in business markets

b)            There are more complex negotiations in the buying process in business markets

c)            There are multiple buying influences in business markets

d)            There are larger volume transactions in business markets

24.          Many people know the brand name Oreos when thinking about

 

cookies. This, or any, widely recognized brand name is a source of:

 

a)            Market augmentation

b)            A product/service differentiation competitive advantage

c)            A niche competitive advantage

d)            A cost competitive advantage

 

 

25.          A tool used by marketers to represent the consumers’ view of where the product is positioned with respect to the competition is called:

 

a)            One-to-one marketing

b)            Market segmentation

c)            Perceptual mapping

d)            Niche marketing

 

 

26.          An increase in consumer demand for soft drinks leads to an increased demand by soft drink bottlers for aluminum cans and high-fructose corn syrup, resulting in an increased demand by manufacturers and farmers for aluminum ore and corn. This

 

sequence best illustrates:

 

a)            Fluctuating demand

b)            Derived demand

c)            Elastic demand

d)            Joint demand

 

27.          I am considering buying a new sport utility vehicle like a Jeep Grand Cherokee. Another SUV that would not likely compete head-to-head like the Porsche Cayenne, which is at a significantly higher price point, best represents which type of competition?

 

a)            Brand competition

b)            Industry competition

c)            Generic competition

d)            Form competition

 

28.          College students have never been seen as a strong segment of the market for Home Depot. In effort to better meet the needs of this segment, Home Depot is advertising in the student newspaper website. Reaching this additional segment is best described as:

 

a)            Market development

b)            Market penetration

c)            Diversification

d)            Product development

 

29.          Being an adapter, imitator and/or clone best demonstrates which positional strategy for attaining a competitive advantage?

 

a)            Market follower

b)            Market nicher

 

c)            Market leader

d)            Market challenger

 

30.          Firms that focus on the internal capabilities of the firm rather than on the desires and needs of the marketplace are said to be exhibiting which type of orientation?

 

a)            Sales

b)            Production

c)            Marketing

d)            Strategic

 

 

31.          The place a product occupies in consumers’ minds relative to the competition in the STP process and potentially influenced by company communications is best defined by:

 

a)            Targeting

b)            Positioning

c)            Segmenting

d)            Situation Analysis

 

32.          Business-to-business marketing does not include goods and services that:

 

a)            Become part of another product

b)            Are acquired for resale

c)            Are used for personal consumption

d)            Facilitate the normal operations of an organization

 

33.          To perceive a difference, Weber’s law suggests that the weaker

the initial stimulus:

 

a)            The smaller the added intensity needed of a second stimulus

b)            The larger the absolute threshold needed of the subject

c)            The greater the just noticeable difference

d)            The greater the added intensity needed of a second stimulus

 

 

34.          Which of the following question types is not an example of a scaled response question?

 

a)            Multiple choice questions

b)            Semantic differential pairs

 

c)            Importance ratings

d)            Likert items

 

35.          If your measured responses to survey questions over two different points of time were drastically different, we would say that this question isn’t meeting the criteria of:

 

a)            Validity

 

b)            Reliability

c)            Causality

d)            Representativeness

 

36.          Generally the most accepted valuation method of brand equity, the Interbrand brand equity formula reflects the financial measures of brand earnings and the more subjective measures of:

 

a)            Brand bonding

b)            Brand strength

c)            Brand imagery

d)            Brand resonance

 

37.          Which of the following data collection methods would be the best example of research designed to address an explanatory research question?

 

a)            Survey

b)            Observation

c)            Interview

d)            Field experiment

 

38.          Data that helps us explain a situation is best defined as:

 

a)            Secondary

b)            Predictive

c)            Diagnostic

d)            Descriptive

 

 

39.          All of the following are prerequisites of an exchange, EXCEPT:

 

a)            Money is required

b)            Freedom to accept/reject other’s offer

c)            Parties must be able to communicate

d)            Products of value must be deliverable

 

40.          When no changes are desired from the original product purchased during the buying process, this best reflects which of the following buying situations?

 

a)            Modified rebuy

b)            New buy

c)            Straight rebuy

d)            The make-up-your-mind-because-the-game-starts-in-ten- minutes buy

 

41.          Creating, communicating and delivering value best describes which of the following terms:

 

a)            Consumer behavior

b)            Brand equity

c)            Segmentation

d)            Marketing

 

42.          In our course material we described THIS as the “touch point” for the consumer:

 

a)            Perceptual map

b)            The brand

c)            Logistics

 

d)            Diffusion

 

43.          Labeling that focuses on promotional themes is best called:

 

a)            Informational

b)            Facilitory

c)            Aesthetic

d)            Persuasive

 

44.          Which of the following is best described as the ‘end user?’

 

a)            Demographics

b)            Customer

c)            Consumer

d)            Psychographics

 

 

45.          From the following below, this is the best example of a tool that measures performance by multiple indicators:

 

a)            Porter’s Five Forces

b)            Maslow’s Hierarchy of Needs

c)            Niche Marketing

d)            Balanced Scorecard