Mkt 421 Final Exam - Latest 2014

MKT 421 Final Exam - Latest 2014

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1

A producer might use a "pulling policy" rather than a "pushing policy" if:

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Intermediaries are reluctant to handle a new product.

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Its sales force has been very successful getting wholesalers and retailers to handle its product.

•

It has a very limited promotion budget.

•

It is offering a very "high-tech" product to a small product-market.

2

When new product ideas are chosen based on ratings and comments from customers, this process is called ______.

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Creative resourcing

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Idea engineering

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Reaction engineering

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Crowdsourcing

3

The primary purpose of branding is:

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To prevent competitors from stealing product ideas.

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To boost customer satisfaction.

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To identify a product.

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To enhance package design.

4

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The company tries to follow an organized new-product development process—rather than using a faster and more spontaneous, "race-to-market" approach.

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The managers worry too much about the competition.

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The product fails to offer the customer a unique benefit.

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The company delays putting the product on the market until it develops a complete marketing plan.

5

Genetech Corp. has invested heavily to develop a patented new product. Genetech wants to achieve a rapid return on its investment. It probably should set a ______________ pricing objective.

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Status quo

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Target return

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Profit maximization

•

Sales-oriented

6

In the American Marketing Association's Statement of Ethics, which ethical value stresses a firm's attempts to balance the needs of its buyers with the interests of sellers?

•

Responsibility

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Citizenship

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Fairness

•

Honesty

7

David Oreck advertises Oreck vacuum cleaners via commercials that run...