MKTG 2800 FINAL EXAM REVIEW

Question 1

The first level of recognition on the brand equity pyramid is

Accepted Answer

Brand Awareness

Question 2

Using Ansoff's Market Growth Matrix to guide you, which growth strategies might you use for NEW product sales growth?

Accepted Answer

Product Development and Diversification

Question 3

A statement that states how a product, service, or brand meets a specific need, differencing it from competitors is

Accepted Answer

a product positioning statement

Question 4

First-party cookies allow a user's visit to a Company's website and online store to be tracked and used in the future.

Accepted Answer

True

Question 5

The use of the same promotional theme throughout the product's marketing campaign is an example of

Accepted Answer

integrated marketing communications

Question 6

The three main types of marketing research include descriptive research, causal research, and exploratory research.

Accepted Answer

True

Question 7

A competitive advantage refers to

Accepted Answer

a unique strength relative to competitors

Question 8

In the Product Lifecycle, what stage sees sales begin to rise and a focus on building brand awareness and market share?

Accepted Answer

Growth

Question 9

The added value a brand name provides to a product beyond it's functional benefits is referred to as Brand Net Worth

Accepted Answer

False

Question 10

In a BCG matrix, which of the following characteristics are true for a "star" product or product category?

Accepted Answer

All of these things are true of a "star" product on the BCG matrix

Question 11

A brand strategy where a company uses its existing brand name to launch new products or services in a NEW market is

Accepted Answer

Brand Extension

Question 12

Selling a product below market price to attract attention for other products a Company sells is called

Accepted Answer

loss-leader pricing

Question 13

Compared to marketing strategies, marketing tactics generally involve actions that

Accepted Answer

are detailed day-to-day operational decisions

Question 14

A marketing metric is a measure of the quantitative value or trend of a marketing activity or result.

Accepted Answer

True

Question 15

The Five Environmental Forces include

Accepted Answer

A and C

Question 16

Marketing Research is a process of defining...

Accepted Answer

a problem & opportunity, collecting & analyzing info & recommending actions

Question 17

A key difference between advertising and public relations is that PR is used in a crisis, while advertising is for sales

Accepted Answer

False

Question 18

According to this figure, column C represents PRESTIGE type of product?

Accepted Answer

False

Question 19

Which statement about the promotional mix is most accurate?

Accepted Answer

The promo mix is influenced by all of these factors in each answer

Question 20

Demand for a product is likely to be more price elastic if it

Accepted Answer

has many substitute products

Question 21

An intermediary with legal authority on behalf of the manufacturer that doesn't take title to products is an agent.

Accepted Answer

True

Question 22

The controllable factors, product, price, promotion, and place, used to solve a marketing problem are called:

Accepted Answer

The Marketing Mix

Question 23

Market segments are the groups of similar prospective buyers that result from the market segmentation process.

Accepted Answer

True

Question 24

In Marketing, an exchange is a trade of things of value between a buyer and seller so that each is better off afterward.

Accepted Answer

True

Question 25

The figure below is showing how services are often evaluated on credence vs experience, value, searches or quality.

Accepted Answer

True

Question 26

Primary data collection is ideal when we need highly specific, current, and tailored information.

Accepted Answer

True

Question 27

A common example of co-branding is the partnership between Taco Bell and Doritos to create the Doritos Locos Tacos.

Accepted Answer

True

Question 28

Intangible activities or benefits that satisfy consumers' needs in exchange for money or something else of value are

Accepted Answer

services

Question 29

Coupons fall under this element of the promotional mix:

Accepted Answer

Sales Promotions

Question 30

Most snack foods, bottled water, and batteries likely would use which type of distribution density?

Accepted Answer

intensive distribution

MKTG 2800 FINAL EXAM REVIEW

Questions 30

MKTG 2800 FINAL EXAM REVIEW

Questions 30