Assignment:
FINAL EXAMINATION FOR INTEGRATED MARKETING STRATEGIES
Instructions:
1) Use the Final Exam Answer Key Word file to record your answers for this exam.
2) Put your name at the bottom of the Answer Key where indicated.
3) Save the Answer Key in the following format: Firstname-Lastname-FinalExam.doc.
4) Post your completed Final Exam Answer Key document to the Assignments link no later than midnight Phoenix time on our final day of class (Day 7 of Week 5).
5) Each of the 25 Multiple Choice & Multiple Select and the 25 True/False questions below is worth 2 points. Indicate your answer by putting the answer (or answers) in the box for each question on the Answer Key. Note that some questions may instruct you to "Select all that apply," which could mean that one, two, three, four, or all five answer options are correct. If you do not see that instruction, then only a single answer option is the correct one.
6) This final exam is worth 15% of your grade in this course.
Multiple Choice & Multiple Select Questions
1 A system of partnerships and alliances that a firm creates to source, augment, and deliver its offerings is called ________.
a. A demand chain
b. A channel arrangement
c. A value network
d. Vertical marketing
e. Horizontal marketing
2 Xerox offers a color printer that sells for $1,200, which they want to market to businesses. As the marketing manager for Xerox printers, you want to select an advertising medium that has a long exposure time and that can attract and retain a prospective customer's attention, and you have a budget of $20 million. Which communications medium would best the choice to meet these criteria?
a. Print ads in a trade journal and/or national newspaper
b. Cable TV ads
c. Pop-up ads on specific Web sites
d. POP displays
e. Social media advertising
3 All of the following are functions of public relations except:
a. Determining product, price, place, and promotions
b. Identifying and communicating with internal and external stakeholders
c. Lobbying
d. Press relations
e. Preventing or reducing damage to the company's image during a crisis
4 Effective ________ refers to the number of times a target audience must be exposed to an advertising message in a specified period of time in order to achieve a particular objective, while effective ________ is the percentage of an audience that must be exposed to a particular advertising message during a certain period in order to achieve a specific objective.
a. marketing, advertising
b. frequency, reach
c. CPM, GRP
d. recency, cost-per-contact
e. continuity, impressions
5 Which of the following is NOT a way to segment consumer markets?
a. By loyalty status
b. By values
c. By occasions when a need may develop
d. By usage rate
e. All of the above are ways to segment consumer markets
6 Which of the following are ways to segment business markets? (Select all that apply)
a. By size of the business in dollars of revenue
b. By stage of the decision process
c. By industry
d. By benefits sought
e. By usage rate
7 The marketing activity of ________ involves creating a customer-focused value proposition so that the company's product/service and its image occupy a distinctive place in the minds of a target market.
a. Competitive strategy
b. Points-of-difference (PODs) strategy
c. Points-of-parity (POPs) strategy
d. Sales strategy
e. Branding strategy
8 Changes in the macro environment are a primary basis for new market opportunities. Which of the following is NOT a force in the macro environment?
a. Company competencies
b. Demographics
c. Psychographics
d. Competition
e. Weather and natural disasters
9 The goal of branding is:
a. To save money over having to name each product individually.
b. To tell consumers what your product's compelling benefits are.
c. To charge higher prices for your company's products.
d. To set your product apart from its competitors.
e. To create as much of a monopoly for your products as possible.
10 The three main components of advertising are (Select three):
a. The management program
b. Public relations
c. Advertising design
d. Distribution networks
e. Media selection
11 Which of the following is NOT an effective ways to establish a communications budget?
a. Spend a percentage of the sales revenue you anticipate making in the next year.
b. Spend only what you think you can afford.
c. Spend as much as the competition does.
d. Spend a percentage of last year's sales revenue.
e. All of the above are effective ways to establish a communications budget.
12 ________ is creating a perception in the consumer's mind regarding the nature of a company and its products relative to the competition.
a. Public relations
b. Private labeling
c. Positioning
d. Packaging
e. Promoting
13 Which of the following is a component of a corporate image? (Select all that apply)
a. Employees and customer service
b. Retail outlets and Web sites
c. Advertising and public relations
d. Products
e. Mission and vision statements
14 ________ are strongly held beliefs about various topics or concepts which lead to the judgments that guide personal behavior.
a. Affective components
b. Attitudes
c. Cognitive maps
d. Values
e. Evoked sets
15 A buyer's behavior is influenced by four major factors: social, cultural, psychological, and personal. Into which of those four categories would the customer's motivation, learning, perception, beliefs, and attitudes fall?
a. Social
b. Cultural
c. Psychological
d. Personal
e. None of the above
16 All of the following could be a marketing communication objective except:
a. Develop brand awareness
b. Build customer traffic
c. Enhance the firm's image
d. Increase sales
e. No exceptions; all of the above are possible marketing communication objectives.
17 A set of businesses or a group of individual consumers with distinct characteristics that are similar in nature is called a ________.
a. Psychographic market
b. Homogeneous group
c. Demographic market
d. Market segment
e. Heterogeneous group
18 The ________ marketing strategy involves a manufacturer using its sales force and trade promotions to entice intermediaries to carry, promote, and sell its product to the end users.
a. Integrated
b. Pull
c. Push
d. Optimal
e. Segmented
19 Which of the following is NOT a recent trend in the consumer buying environment that has affected consumers' purchasing patterns?
a. Cocooning
b. Information complexity
c. Time pressure
d. Changes in family units
e. Reduced choices among available alternatives
20 All of the following are considered to be demographic factors except:
a. Marital status
b. Years of education completed
c. Number of pets owned
d. Religious beliefs
e. Political affiliations
21 A ________ has the following three characteristics: it is a source of competitive advantage, it has applications in a wide variety of markets, and it is difficult for competitors to imitate.
a. Market niche
b. Core competency
c. Value network
d. Product description
e. Promotional element
22 The ultimate level of marketing segmentation is ________.
a. Niche
b. Local
c. Mass
d. Individual
e. Homogeneous
23 A distribution strategy in which the seller tries to place his products in as many outlets as possible is called ________.
a. Intensive distribution
b. Exclusive distribution
c. Managed distribution
d. Minimized distribution
e. Monopolistic distribution
24 Wholesalers primarily rely on ________ to achieve their promotional objectives.
a. Advertising
b. Sales promotions
c. Personal selling
d. Publicity
e. Public relations
25 The ________ perspective can help a company to identify superior suppliers and distributors and to improve productivity, which ultimately brings down the company's costs.
a. Supply chain
b. Market logistics
c. Physical distribution
d. Total cost management
e. Sales
True / False Questions
26 "Communication" can be defined as transmitting, receiving, and processing information.
27 The product life cycle includes introduction, growth, maturity, and decline.
28 Organizations should attempt to try to change consumers' attitudes about their product and service attributes, rather than trying to closely match their product or service attributes to the consumers' attitudes.
29 A company's image in the U.S. is not important when expanding internationally because customers in other countries have not yet been exposed to the company.
30 Although B2B marketers are increasingly using technology-based advertising media, trade journals and business magazines still remain an effective method for reaching specific target markets.
31 Advertising via direct mail provides opportunities for marketers to measure the lifetime value of a customer and answer customers' product-related questions.
32 When analyzing promotional opportunities in global markets, marketing managers should examine the same types of criteria that they use when analyzing promotional opportunities in domestic market segments.
33 When using e-marketing, it is preferable to make it difficult for consumers to unsubscribe so that you can continue to have opportunities to build a relationship with those consumers.
34 Customer service is a part of creating "goodwill" for a company.
35 Information technology has led to few improvements in logistical efficiency.
36 Using mail, telephone, fax, e-mail, or the Internet to communicate directly with consumers is called personal selling.
37 The average number of times an individual, household, or business within a particular target market is exposed to a particular advertisement within a specified time period is known as cost per thousand (CPM).
38 A niche market is characterized by a fairly narrowly defined market with a complete and distinct set of needs, and a willingness to pay a premium to meet those needs.
39 A value network is a system of partnerships and alliances that can include business suppliers, the suppliers' suppliers, and the immediate customers and end users.
40 The marketing tactics used at each stage of a product's lifecycle must be related to the goals you have for the product at that point in time.
41 The dominant mode of distribution in the U.S. is a horizontal marketing system.
42 When evaluating the overall IMC plan, things that can be analyzed include profitability, social responsibility, and employee performance and attitudes.
43 Most producers sell their goods and/or services directly to the final user.
44 To achieve the best results, distribution channels should remain intact over time.
45 In a vertical marketing system (VMS), two or more unrelated companies put together resources or programs to exploit emerging opportunities; an example of this is how many grocery stores have a bank branch within their locations.
46 Elements of the marketing communication mix include advertising, public relations, publicity, trade promotions, and personal selling.
47 Psychographic segmentation includes cultural affiliation, stage in life cycle, pleasure pursuits, and health emphasis.
48 The point of having a marketing channel is to make a product more accessible to the customer.
49 Wholesalers rely primarily on advertising to achieve their promotional objectives.
50 An organization's stakeholders include employees, stockholders, public interest groups, the government, and society as a whole.