EXAM 2 AND 3 MCMILLAN COB 300D COMPLETE PRACTICE EXAM

EXAM 2 AND 3 MCMILLAN COB 300D
COMPLETE PRACTICE EXAM



Utilizing a single marketing mix to reach a uniform (everyone in th
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e market is viewed as the same) target market defines what targe
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ting strategy? k


-Undifferentiated
-Behavioral
-Differentiated
-Psychographic
-Concentrated - CORRECT ANSWER-Undifferentiated k k k




Where might the term 'evoked set' or "consideration set' come int
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o use within the field of marketing?
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-During construction of a BCG (Boston Consulting Group) matrix
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-During the consumer buying decision process
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-During consideration of using a diversification strategy
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-When using Maslow's hierarchy of needs
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-When using the time ERA's to define a product approach -
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kCORRECT ANSWER- k


During the consumer buying decision process
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If Tovota has fixed costs of $ 100.000.000 for the manufacture of i
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ts Prius and sells the car for $20,000 with 10% of the sales price t
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aken away by the independent dealer, what is the breakeven poin
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t for the Toyota Prius?
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-15 million dollars
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-5,555 cars k


-55 million dollars
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-5.556 cars k


-5.555.55 cars - CORRECT ANSWER--5.555.55 cars k k k k k

,What percentage market share seems reasonable and most likel
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y for a company to have within their market? (which answer is the
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most realistic market share shown)
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-Apple has 90 % of the global smartphone market
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-Honda has 70% of the luxury car market worldwide
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-Ford has 18% of the domestic vehicle market
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-Facebook has 99 % of the global social media market
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-Kellogg's has 2 % of the breakfast cereal market -
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kCORRECT ANSWER-- k


Ford has 18% of the domestic vehicle market
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Which branding strategy would involve hiding the identity of the m
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anufacturer which is actually making the product being branded b
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y a retailer or wholesaler.
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-Brand extension k


-Mixed branding k


-Co-branding
-Family branding k


-Multiproduct branding - CORRECT ANSWER--Mixed branding k k k k k




What is the forth stage of the product adoption process?
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-Late Majority k


-Trial
-Evaluation
-Free Samples k


-Interest - CORRECT ANSWER--Trial k k k




Which of the following is the best example of a nondurable good?
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-Laundry detergent k


-Automobile
-Shoes
-Laser Surgery k


-iPad - CORRECT ANSWER--Laundry detergent
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A basic test of the usefulness of the market segmentation proces
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s is whether it leads to tangible marketing actions that can
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-stand up to ethical scrutiny
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, -create a new product k k k


-create innovation k


-create a market k k


-increase sales and profitability for the company using it -
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kCORRECT ANSWER-- k


increase sales and profitability for the company using it
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When considering global business, which is considered as a licen
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sing agreement?
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-Boeing makes parts for other aircraft companies in the USA.
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-
Toyota has manufacturing facilities that they own in Kentucky by
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which they manufacture vehicles.
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-
Exxon and BP join together to form another company which will ru
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n seismic data in the search for oil.
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-Tide is a brand of Proctor and Gamble or P&G via license.
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-
Yoplait yogurt grants a USA manufacturer the right to produce the
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ir yogurt in the USA. - CORRECT ANSWER--
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Yoplait yogurt grants a USA manufacturer the right to produce the
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ir yogurt in the USA.
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To be identified as a market segment, its members must
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-have common needs and respond similarly to market actions
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-have different needs and have potential for future growth
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-
have potential for future growth and have potential for increased
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profit or ROl k k


-
represent a large share of the entire market and have critical buyi
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ng power.
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-have different needs and respond similarly to market actions -
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kCORRECT ANSWER-- k


have common needs and respond similarly to market actions
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Which branding strategy is an example of Family branding?
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