Mktg 522 Week 8 Final Exam - 3 Sets

MKTG 522 Week 8 Final Exam - 3 Sets

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Week 8 : Final Exam – Set 1

Question 1. 1. (TCO B) What are the advantages of using secondary data over primary data when doing Market Research? Disadvantages? How might Primary Data be obtained? Benefits? Disadvantages?

Question 2. 2. (TCO C) Choose a specific brand (i.e., Coke, Nike, McDonalds, etc.). Using this brand as an example, describe what makes this a unique brand that is easily recognizable by consumers. What do you, as a consumer, think of when you see this brand logo? How would you describe a Brand? What roles do Brands play in the market and what signals success?

Question 3. 3. (TCO H) Marketers recognize that the marketing of services is different than the marketing of a product because of the different characteristics that distinguish them from physical products. What are these distinguishing characteristics? How do marketers communicate the value of services to consumers? How do they make these intangible services appear tangible to the consumer?

What are some marketing strategies that might be employed with services to ensure positive results with these distinguishing characteristics (choose at least two)? In your answer, provide an example of a service to which your strategies would be utilized.

Question 4. 4. (TCO D) An increasing number of companies are basing their prices on the customer’s perceived value of the product or service. Explain the concept of perceived value pricing. What is the “key” to pricing in this manner? How might the marketer determine the price that the consumer might pay in exchange for that value that they receive?

Question 5. 5. (TCO F) You are the Sales Manager for your company. Your sales team is one that, once they gain the initial sale,...