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MKT 571 Final Exam

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1. Which component of a marketing audit includes major developments in income,   prices, savings, and credit that affect the company?
• Technological
• Political
• Economic
• Cultural
2. Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he or she expects the shoes to cover his or her feet and allow him or her to walk unobstructed. This is an example of what level in the consumer-value hierarchy?
• Core benefit
• Pure tangible product
• Basic product
• Potential benefit
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3. What type of strategy consists of geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing?
• Regular prices
• Price adaptation
• Altered pricing
• Fixed pricing
4. A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own.
• hard-core loyals
• split loyals
• shifting loyals
• switchers
5. Marketers need to identify the hierarchy of attributes that guide consumer decision making in order to understand different competitive forces and how these various sets get formed. This process of identifying the hierarchy is called ________.
• market valuation
• market estimation
• brand association
• market partitioning
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6. Which of the following is a strategy that uses the manufacturer’s sales force, trade promotion money, or other means to induce intermediaries to carry, promote, and sell the product to end users?
• Strategic plan
• Lock strategy
• Push strategy
• Pull strategy
7. What are the four characteristics of a marketing audit?
• Simple, unique, randomly, and exclusive
• Announced, semi-annually, dependent, and perpetual
• Comprehensive, systematic, independent, and periodic
• Dependent, non-comprehensive, quarterly, and...