NIU MKT602 Week Two Midterm Exam 2021

Question 1Rock band Foo Fighters created a digital street team that sends targeted e-mail messages to members who receive exclusive news, previews, and opportunities to win prizes. The Foo Fighters are using ________ to reach Generation Y.

                student ambassadors

                unconventional sports

                cool events

                computer games

                online buzz

Question 2Hilton Hotels customizes rooms and lobbies according to location. Northeastern hotels are sleeker and more cosmopolitan. Southwestern hotels are more rustic. This is an example of ________ segmentation.

                demographic

                behavioral

                psychographic

                geographic

                cultural

Question 3________ sales force consists of manufacturers’ reps, sales agents, and brokers who earn a commission based on sales.

                Virtual

                Domestic

                Contingent

                Contractual

                Decentralized

Question 4Cell phone manufacturer LZT has to choose between two options for sourcing parts: Japan-based Keiko Inc. and US-based Global Tech. How can Keiko reduce the total customer cost for LZT?

                by absorbing some risk by offering a warranty

                by improving the functional aspects of the products

                by augmenting the psychological benefits of the products

                by training service personnel to improve their skills

                by investing in brand building for the products

Question 5The 80-20 rule reflects the idea that ________.

                20 percent of the company’s profits are generated by the top 80 percent of customers

                the top 20 percent of customers are highly satisfied and 80 percent of customers will recommend the company to a friend

                20 percent of customers are unprofitable, and 80 percent make up a company’s profits

                the top 20 percent of customers often generate 80 percent of the company’s profits

                any new product will be accepted by 20 percent of the customers immediately, but 80 percent of the customers will be up for grabs throughout the product’s life cycle

Question 6A customer touch point for Abacus Airlines would be an item such as ________.

                ease of access to the airport

                a mechanic’s ability to service the airplanes

                the reservations desk

                the value of air travel versus surface transportation

                competency of a travel agent

Question 7A ________ is the company’s estimated share of market demand at alternative levels of company marketing effort in a given time period.

                sales budget

                market demand

                company demand

                company sales potential

                market potential

Question 8Marketers have little information about how consumption patterns vary across and within countries.

  True

  False

Question 9A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.

                data warehousing system

                viral marketing campaign

                product management system

                marketing intelligence system

                sales information system

Question 10Marketing plans are becoming more production oriented because of the high costs of doing business in today’s economy.

                False

                True

 

Question 11When a customer places an order at BookBox.com, the company processes the customer’s payment information, sends the order to the nearest warehouse, and ships the order via FedEx. This is best described as the ________ process.

                market-sensing

                customer acquisition

                customer relationship management

                fulfillment management

                new-offering realization

Question 12Abbot Laboratories warehouses and delivers 3M’s medical and surgical products to hospitals across the United States. The best description of this form of alliance would be a(n) ________.

                product alliance

                logistics alliance

                pricing collaboration

                indirect collaboration

                promotional alliance

Question 13If a consumer is shopping for a smart phone, all of the smart phone options available in the market â ” whether a consumer knows about them or not â ” is called the ________ set.

                awareness

                total

                consideration

                choice

                inept

Question 14The relatively homogeneous and enduring divisions in a society, which are hierarchically ordered and whose members share similar values, interests, and behavior constitute a ________.

                culture

                subculture

                social class

                family

                group

Question 15According to Maslow’s hierarchy of needs model, recognition, self-esteem, and status constitute a person’s social needs.

  True

  False

Question 16An item in a questionnaire states that “most politicians cannot be trusted.” Respondents are required to provide their answers by choosing any one of the following options: 1) Strongly disagree, 2) Disagree, 3) Neither agree nor disagree, 4) Agree, 5) Strongly agree. This is an example of a ________.

                semantic differential

                word association question

                Thematic Appreciation Test (TAT)

                Likert scale

                dichotomous question

Question 17Which of the following types of marketing research firms gathers consumer and trade information and then sells it for a fee (e.g., Nielsen Company)?

                custom marketing research firms

                syndicated-service research firms

                specialty-line marketing research firms

                generic marketing research firms

                focused marketing research firms

Question 18A customer-performance scorecard tracks the satisfaction of various constituencies who have a critical interest in and impact on the company’s performance: employees, suppliers, banks, distributors, retailers and stockholders.

  True

  False

Question 19The demand for business goods is ultimately derived from the demand for ________.

                raw materials

                consumer goods

                services

                business solutions

                e-commerce

Question 20Business buyers may get new ideas at a trade show, see an ad, or receive a call from a sales representative who offers a better product or a lower price compared to the current in-supplier. These situations motivate the ________ stage.

                problem recognition

                general need description

                order-routine specification

                supplier search

                performance review

Question 21Shoe manufacturers are not going to buy much more leather if the price of leather falls, nor will they buy much less leather if the price rises, unless they can find satisfactory substitutes. This is an example of ________.

                inelastic demand

                direct purchasing

                the acceleration effect

                a modified rebuy

                a straight rebuy

Question 22If you performed the role of the ________ in a buying center, you would be the person that has the power to prevent sellers or information from reaching other members of the buying center.

                initiator

                influencer

                decider

                gatekeeper

                approver

Question 23When companies measure the number of people who are willing and able to buy their products, they are measuring ________.

                demand

                price elasticity

                real needs

                standard of living

                disposable income

Question 24At the heart of any marketing program is the firm’s ________, its tangible offering to the market.

                strategy

                product

                brand

                value

                people

Question 25________ goods constitute the bulk of most countries’ production and marketing efforts.

                Durable

                Impulse

                Physical

                Luxury

                Intangible