University of Phoenix MKT 571 - MKT 571 Final Exam Answers (includes 8)


The following final exam questions and answers are included:

  1. Final exam 1

  2. Final exam 2

  3. Final exam 3

  4. Final exam 4

  5. Final exam 5

  6. Final exam 6

  7. Final exam 7

  8. Final exam 8

Some example questions without the answers (the answers are included in the purchased files):

A ___________ is when a parent brand is used on a new product targeting a new market segment within a category currently served by the parent.
A. Same company co-brand
B. Category extension
C. Line extension
D. Joint-venture co-brand

BMW, the maker of the Mini Cooper brand, is using what kind of brand strategy with its Mini products?
A. Blanket family names
B. Separate family names
C. Corporate names
D. Individual names

When Apple introduced its popular iPod Nano model, it dropped its Mini iPod at the same time. The Mini was, at the time, the most popular mp3 player in the marketplace. This is an example of __________.
A. Preemptive cannibalization
B. A brand shake-out
C. Product maturity
D. CEO Steve Job's large ego

Painting and consulting are considered industrial goods because ______________.
A. They are considered component materials
B. Most firms do not seek them directly
C. They facilitate developing and managing the finished product
D. They are specialty goods

___________ are formal statements of expected product performance by the manufacturer.
A. Promotional statements
B. Warranties
C. General guarantees
D. Open pricing statements

Marketers plan their market offerings at five levels. What is the correct order of the levels, going from most fundamental to the level with the most benefits?
A. Expected-potential-basic-augmented-core
B. Core-basic-expected-augmented-potential
C. Potential-augmented-expected-core-basic
D. Basic-expected-augmented-core-potential

Mr. Tse and his family took a vacation to Washington, D.C. While there, they bought souvenirs; t-shirts and hats to take home to family and friends who didn't have the opportunity to go. The experience of the Tse's is an example of which offering?
A. A hybrid
B. A pure service
C. A major service with accompanying minor goods and services
D. A tangible good with accompanying services

Which of the following best describes the category in which the offering's service mix is distinguished? People patronize restaurants for both food and service.
A. Tangible good with accompanying services
B. Pure tangible good
C. Pure service
D. Hybrid

Characteristics a buyer can evaluate before purchase are called _______________.
A. Experience qualities
B. Search qualities
C. Differentiation qualities
D. Credence qualities

When introduced in the late 1970s, personal computers had large initial demand. People were interested in buying them to make writing and editing easier. The earliest simple PCs were initially priced around $2,500. The manufacturers of the first PCs were probably using a _________ pricing strategy.
A. Market-skimming
B. Cost-oriented
C. Market-penetration
D. Value-oriented

A common mistake in pricing is ____________________.
A. Considering price and price competition as a key problem in marketing
B. Revising prices too often
C. Setting prices independently of the rest of the market mix
D. Ignoring costs when setting prices

The introduction of a new product to the market using market-penetration pricing is most likely to be successful when _____________.
A. There must be no existing demand for the product
B. The unit costs of producing a small volume of the product are high
C. The high price communicates nothing to potential buyers
D. The market is highly price sensitive

Belk is a chain of stores found primarily in southern United States. Each store carries several product lines and each line is managed separately by a specialist buyer or merchandiser. McRae's offers many types of customer service and its prices reflect that fact. Belk's is an example of a ____________.
A. Superstore
B. Factory outlet
C. Department store
D. Combination store

A concept in retailing that helps explain the emergence of new retailers is called the ___________ hypothesis.
A. Wheel-of-retailing
B. Retail life cycle
C. Product life-cycle
D. Service-assortment

Which of the following is NOT one of the four levels of retail services mentioned in the text?
A. Self-service
B. Staffed service
C. Limited service
D. Self-selection


Filename: MKT571 Final Exams (includes 8).zip
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