Mkt 421 Final Exam

MKT 421 FINAL EXAM

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MKT 421 FINAL EXAM,

1. A PRODUCER MIGHT USE A “PULLING POLICY” RATHER THAN A “PUSHING POLICY” IF:

• Intermediaries are reluctant to handle a new product.

• 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 ______.

• Creative resourcing

• Idea engineering

• Reaction engineering

• Crowdsourcing

3. The primary purpose of branding is:

• To prevent competitors from stealing product ideas.

• To boost customer satisfaction.

• To identify a product.

• To enhance package design.

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

• The managers worry too much about the competition.

• The product fails to offer the customer a unique benefit.

• 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.

• Status quo

• Target return

• 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

• Citizenship

• Fairness

• Honesty

7. David Oreck advertises Oreck vacuum cleaners via commercials that run on national radio programs. He encourages consumers to “…try my 8-pound Oreck vacuum for free for 30 days,” and to...