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MKT 421 Final Exam

MKT 421 Final Exam

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MKT 421 Final Exam

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  1. The MKT 421 final exam deals with the basic concepts of marketing and its functionality in the world of business. MKT 421 Final Exam Copyright. All Rights Reserved by www.StudentWhiz.com

  2. INTRODUCTION • The purpose of MKT 421 final exam is to make the students aware about the numerous strategies employed in different industries and their significance. • Marketing is embedded in everything we do. • It involves all activities in the process of launching a product in the market to making it available to the customers at the earliest. Copyright. All Rights Reserved by www.StudentWhiz.com

  3. The questions are strategically framed to bring out the major theme of the topic. • Sufficient practical examples. • Questions are framed broader in scope to cover all the necessary challenges or perspective required to be given excess consideration when operating in the market. Copyright. All Rights Reserved by www.StudentWhiz.com

  4. How to answer? • Beneficial for the students to take the Marketing 421 final exam to understand the requirements and needs of the market. • Develops a habit among the students to think critical and apply the theoretical concepts learned in the classes to the real world of business. • Questions are framed in a manner that the students may consider them to be in the place of a marketer, or decision maker to think critically. Copyright. All Rights Reserved by www.StudentWhiz.com

  5. Connection to the real world • Exclusive section for the students, which contain answers to know the manner in which the exam is to be performed. • Enables students to think critically on the circumstances of life/work. • A complete package to learn the concepts and the practical application of the marketing concepts of business. • Emphasis on imparting practical knowledge related to all the activities required to sustain and grow in the marketplace, rather than restricting the scope of questions only to theoretical concepts. Copyright. All Rights Reserved by www.StudentWhiz.com

  6. WHY US? • Full command over the subject of the assignment. • Deep analysis on the related topics the prior to beginning the assignment activity. • The work we produce is 100% original. • We maintain not only professional but personal touch too with our clients to understand their needs and demands better. • Proper adherence to the university as well as APA guidelines when completing the assignments. • Free answers to first 4 questions for better understanding of the paper. • For Sample Work write to us at - ………………………….. Copyright. All Rights Reserved by www.StudentWhiz.com

  7. Questions to MKT 421 Final Exam are as follow:1) Big Fizz Co., a manufacturer of cola-flavored drinks, wants to add packaged fruit juices to its existing product line. Big Fizz must make some decisions regarding packaging and branding the fruit juices. These decisions would fall under which variable of the marketing mix?A. ProductB. PlaceC. PromotionD. Price2) Hewlett-Packard sells personal computers through specialty computer stores, electronics superstores, and its own Internet site. What is the marketing mix variable that is being considered here?A. PriceB. PromotionC. ProductD. Place Copyright. All Rights Reserved by www.StudentWhiz.com

  8. 3) Marketing strategy planners should recognize that:A. target markets should not be large and spread outB. mass marketing is often very effective and desirableC. large firms like General Electric, Target, and Procter & Gamble are too large to aim at clearly defined marketsD. target marketing is not limited to small market segmentsMKT 421 Final Exam4) Target marketing, in contrast to mass marketing,A. is limited to small market segmentsB. assumes that all customers are basically the sameC. ignores markets that are large and spread outD. focuses on fairly homogeneous market segments Copyright. All Rights Reserved by www.StudentWhiz.com

  9. 5) The process of naming broad product-markets and then dividing them in order to select target markets and develop suitableA. market penetrationB. market segmentationC. market developmentD. market research6) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.A. Market positioningB. Market segmentationC. Mass marketingD. Diversification Copyright. All Rights Reserved by www.StudentWhiz.com

  10. 7) Marketing research which seeks structured responses that can be summarized is calledA. focus group researchB. quantitative researchC. qualitative researchD. situation analysis research8) One of the major disadvantages of the focus group interview approach is thatA. ideas generated by the group cannot be tested later with other researchB. it is difficult to measure the results objectivelyC. it is difficult to get in-depth information about the research topicD. there is no interviewer, so the research questions may not be answered Copyright. All Rights Reserved by www.StudentWhiz.com

  11. 9) When focus group interviews are used in marketing,A. each person in the group answers the same questionnaire, to focus the discussionB. the typical group size is 15 to 20 typical consumers whether online or off-lineC. it is primarily as a follow-up to more quantitative researchD. the research conclusions will vary depending on who watches the interview whether online or off-lineTo download the complete answer checkMKT 421 Final Exam Answers10) Focus groupsA. are usually composed of 10 to 15 people as participantsB. yield results that are largely dependent on the viewpoint of the researcherC. always do a good job of representing the broader target marketD. have a low cost per participant Copyright. All Rights Reserved by www.StudentWhiz.com

  12. 11) A small manufacturing firm has just experienced a rapid drop in sales. The marketing manager thinks that he knows what the problem is and has been carefully analyzing secondary data to check his thinking. His next step should be toA. conduct an experimentB. develop a formal research project to gather primary dataC. conduct informal discussion with outsiders, including intermediaries, to see if he has correctly defined the problemD. develop a hypothesis and predict the future behavior of sales12) The marketing manager at Massimino& McCarthy, a chain of retail stores that sells men's clothing, is reviewing marketing research data to try to determine if changes in marketing strategy are needed. Which of the following sources of data would be a secondary data source?A. Looking through the company's marketing information system to see past sales trendsB. Reviewing videotapes of a recent focus groupC. Making phone calls to some of the best customers to learn their interest in a new line of clothingD. Spending time in stores observing customers' behaviour Copyright. All Rights Reserved by www.StudentWhiz.com

  13. MKT 421 Week 4 Complete13) Which of the following statements about consumer products is true?A. Convenience products are those that customers want to buy at the lowest possible price.B. Shopping products are those products for which customers usually want to use routinized buying behavior.C. Specialty products are those that customers usually are least willing to search for.D. Unsought products are not shopped for at all.14) The attitudes and behavior patterns of consumers making a purchasing decision are part of theA. political environmentB. social and cultural environmentC. competitive environmentD. firm's resources and objectives Copyright. All Rights Reserved by www.StudentWhiz.com

  14. 15) The observing method in marketing researchA. uses personal interviewsB. may require customers to change their normal shopping behaviorC. is used to gather data without consumers being influenced by the processD. is not suitable for obtaining primary data16) The first step in market segmentation should beA. deciding what new product you could developB. evaluating what segments you currently serveC. finding a demographic group likely to use your productsD. defining some broad product-markets where you may be able to operate profitably Copyright. All Rights Reserved by www.StudentWhiz.com

  15. Click here to download MKT 421 Entire Course17) The product life cycleA. describes the stages a new product idea goes through from beginning to endB. has three major stagesC. applies to categories or types of products as opposed to brandsD. shows that sales and profits tend to move together over time18) Which of the following is one of the product life cycle stages?A. Market analysisB. Market growthC. Market feedbackD. Market research Copyright. All Rights Reserved by www.StudentWhiz.com

  16. 19) While watching a television program, Liza gets a phone call just as a commercial is starting. She presses the mute button on the television's remote control and takes the call, so she pays no attention to the commercial. In terms of the communication process, the telephone call is an example of what?A. EncodingB. NoiseC. DecodingD. Feedback20) Which of the following functions are performed by wholesalers in the channel of distribution?A. Providing information to retailersB. Placing radio advertisements for retailersC. Placing newspaper advertisements for retailersD. Providing goals for retailers Copyright. All Rights Reserved by www.StudentWhiz.com

  17. 21) Typically the ______________ and the marketing manager are responsible for building good distribution channels and implementing place policies.A. public relations managerB. sales managerC. advertising managerD. human resources manager22) SGCA is having a sales contest to encourage retailers to quickly reduce the inventory of SuperGamer computers. Retailers with the highest sales during the next month win an expense paid trip to a special dealer meeting at a resort in Hawaii. This isA. probably illegal because it might encourage price competition among retailersB. an example of cooperative advertisingC. the type of promotion that continues to impact sales even after the promotion is overD. an example of a manufacturer using trade sales promotion in the channel Copyright. All Rights Reserved by www.StudentWhiz.com

  18. Download Complete Answers MKT 421 Week 523) Advertising allowancesA. are incentive monies given to firms further along in the channel to encourage them to advertise or otherwise promote the firm's productsB. involve intermediaries and producers sharing in the cost of adsC. allow for coordination and integration of ad messages in the channelD. set the allowance amount as a percent of the retailer's actual purchases24) Price reductions given to channel members to encourage them to promote or otherwise promote a firm's products locally areA. quantity discountsB. brokerage allowancesC. push money allowancesD. advertising allowances Copyright. All Rights Reserved by www.StudentWhiz.com

  19. 25) A producer using very aggressive promotion to get final consumers to ask intermediaries for a new product hasA. a pulling policyB. a target marketing policyC. a selective distribution policyD. a pushing policy26) Nantucket Hammocks, Inc., uses dealer incentives, discounts, and sales contests in order to encourage retailers to give special attention to selling its products. Nantucket Hammocks is usingA. exclusive distributionB. a corporate channel systemC. dual distributionD. pushing MKT 421 Week 2 Complete Copyright. All Rights Reserved by www.StudentWhiz.com

  20. 27) Quality Ceramic, Inc., (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided NOT to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using theA. combined target market approachB. single target market approachC. multiple target market approachD. mass marketing approach28) When segmenting broad product-markets, cost considerations tendA. to encourage managers to disregard the criterion that a product-market segment should be substantialB. to lead to more aggregatingC. to be unimportant as long as the segmenting dimensions are operationalD. to lead to a large number of small, but very homogeneous, product-market segments Copyright. All Rights Reserved by www.StudentWhiz.com

  21. 29) ______________ focuses on introducing new products to existing markets.A. Market developmentB. Product developmentC. DiversificationD. Market penetration30) When a company grows globally by introducing existing product lines to new markets, this is an example of what?A. Market developmentB. Product developmentC. DiversificationD. Market penetration Copyright. All Rights Reserved by www.StudentWhiz.com

  22. About AuthorThis article covers the topic for the University of Phoenix MKT 421 Final Exam.The author is working in the field of education from last 5 years. This article covers the basic of MKT 421 Individual Assignment from UOP. Other topics in the class are as follows:MKT 421 Week 1 Discussion QuestionsMKT 421 Week 1 Defining Marketing PaperMKT 421 Week 1 CompleteMKT 421 Week 2 Discussion QuestionsMKT 421 Week 2 Marketing Mix PaperMKT 421 Week 2 CompleteMKT 421 Week 3 Discussion QuestionsMKT 421 Week 3 Marketing Research PaperMKT 421 Week 3 Marketing Plan Phase IIMKT 421 Week 3 CompleteMKT 421 Week 4 Discussion QuestionsMKT 421 Week 4 Marketing Plan Phase III Copyright. All Rights Reserved by www.StudentWhiz.com

  23. MKT 421 Week 4 CompleteMKT 421 Week 5 Environmental Factors Paper IkeaMKT 421 Week 5 Marketing Plan Final Paper and PresentationMKT 421 Week 5 CompleteMKT 421 Final Exam AnswersFor further information on the above topics you can always visit the website www.StudentWhiz.com Copyright. All Rights Reserved by www.StudentWhiz.com