MRKT 3001 Week 6 Final Exam (140 out of 140 Points; Summer Qtr)

1. Question: Archer Daniels Midland (ADM) is a producer of food ingredients, sweeteners, cocoa, flours, vegetable oils, and protein products that are used in the manufacture of processed foods. ADM does not make products that are typically sold to final consumers; it makes business-to-business products. However, ADM is a major advertiser on news and public affairs programs that appear on national television networks. The main objective of ADM’s television commercials is to build goodwill for the company and to improve relations with current and prospective shareholders. ADM is engaged in: 2. Question: In the U.S. market-directed system, it is upto each to decide how effectively individual firms satisfy the consumer’s needs. 3. Question: Consumer satisfaction: 4. Question: Godiva, a maker of expensive European chocolates, does not mention price in its magazine advertising. Instead, the ad copy mentions the quality of the ingredients, the fine packaging, and the luxurious boutiques where Godiva chocolates are sold. Godiva seems to be pursuing a pricing objective of: 5. Question: ____________refers to reliably getting products there exactly before the customer needs them. 6. Question: In marketing, business and organizational customers are distinct from: 7. Question: A marketing “performance analysis” is most likely to compare: 8. Question: The “contribution-margin approach” to marketing cost analysis: 9. Question: Regarding human resources, a good marketing manager knows that: 10. Question: Which of the following buying situations gives a seller the most chance for promotion impact? 11. Question: Which of the four Ps in the marketing mix is most directly related to the recruiting of wholesalers and retailers for a new product introduction? 12. Question: Sales analysis: 13. Question: The “80/20 rule” says that: 14. Question: The Xtreme Football League (XFL) was launched in 2001 by Vince McMahon, chairman of World Wrestling Entertainment (WWE). It was designed to provide professional football to American sports fans in the months after the conclusion of the National Football League (NFL) season. In spite of heavy promotion, lots of advertising, and a national network television contract, the XFL was a classic product failure, largely because the quality of play was not good enough to satisfy most football fans. The league evaporated after one season. This type of failure refutes the frequent claim of critics that advertising: 15. Question: Alia was satisfied with the old television that she had owned for years. But after watching a few shows on her friend’s big, flat-screen, HD television, she felt that she should buy a newer model for herself. Which of the following limitations of macro-marketing effectiveness does this illustrate? 16. Question: In general, advertising media are becoming more targeted in that they aim for more narrowly defined target markets. 17. Question: All of the following statements about manufacturers are accurate except: 18. Question: Provided that a product satisfies customer needs, advertising can: 19. Question: In measuring consumer satisfaction, marketing managers should remember that: 20. Question: Radio Shack is an example of what type of organizational customer? 21. Question: Sam Reuter, marketing manager for Herbal Shampoo Company, has to choose one of three different proposed labels for a new herbal shampoo. How might Sam pretest consumer response to the labels? 22. Question: The basic objective of the U.S. market-directed economic system is to: 23. Question: A marketing audit: 24. Question: Multiple buying influence is MOST likely to occur in which of the following purchases? 25. Question: As compared to final consumers, organizations: