Mkt 421 Final Exam Answers – New 2016

MKT 421 Final Exam Answers – New 2016

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A __________ is a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.

marketing dashboard

marketing plan

operation plan

mission statement

What is meant by “accelerating the process?”

Increase advertising costs during product launch

Speed up new product time to market

Identify major competitors early

Create a new market space

The product life cycle refers to __________.

a concept that describes the stages a new product goes through from product concept to commercialization

the average life span of a product

a concept that describes the stages a product goes through in the marketplace—early growth, accelerated development, maturity, and decline

a concept that describes the stages a product goes through in the marketplace—introduction, growth, maturity, and decline

Jay stops at the shopping mall to purchase a new pair of jeans from the Diesel store. He is the

ultimate consumer in a pipeline from the producer through intermediaries, including the clothing store. This pipeline is actually a _______.

marketing channel

marketing tunnel

consumer market

distribution matrix

What is the marketing objective for the growth stage of the product life cycle?

maintain brand loyalty

minimize promotion

increase market share

stress differentiation

In the nonprofit world of the performing arts, box office technology has essentially remained the same since the 1980s. A company called Tessitura is trying to change that. Tessitura is able to track every transaction with its patrons in one database. The information collected includes ticket purchases, fund-raising, volunteering, and gift shop purchases that will help symphonies, operas, and theaters develop customer profiles in order to...