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- Study guides, Class notes & Summaries
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MKT 340 EXAM 1 QUESTIONS AND
CORRECT ANSWERS
exchange CORRECT ANSW-the provision or transfer of goods, services, or ideas in return for
something of value
stakeholders CORRECT ANSW-Constituents who have a "stake," or claim,
in some aspect of a company's products, operations, markets, industry,
and outcomes.
marketing environment CORRECT ANSW-The six types of forces that surround the customer
and affect the marketing mix:
Economic forces
Political forces
Legal and...
MKT 340 CH. 6 QUESTIONS AND
CORRECT ANSWERS
According to the consumer decision process, after consumers recognize the need for a product, they
then engage in CORRECT ANSW-an information search.
_____ involves the buyer considering his own personal knowledge about a product based on past
experience. CORRECT ANSW-An internal search for information
When John was considering buying a new car, he sought out unbiased information and ratings about
different makes and models in Consumer Re...
MKT 340 FINAL EXAM QUESTIONS
AND CORRECT ANSWERS
Which of the following questions does a value proposition answer for a prospective customer?
(Choose the best answer.) CORRECT ANSW-Both "Why should I do business with you?" and
"How are you different than your competitors?"
A company has to manage selling the same product to different customer segments in different
places. This is called ________. CORRECT ANSW-Channel conflict
True or False: The "value exchange" is...
MKT 340 - ALL QUIZZES AND
CORRECT ANSWERS
Marketing has traditionally been divided into a set of four interrelated decisions known as the
marketing mix, or four Ps, including all of the following except CORRECT ANSW-performance
The fundamental goal of marketers when creating goods, services, or combinations of both is to
CORRECT ANSW-create value
Brett is struggling with the choice of publishing his new book, How to Cook Polish Barbeque, as an e
book or a paperback. Brett is address...
MKT 340 QUIZ 5 QUESTIONS AND
CORRECT ANSWERS
A successful way to demonstrate confidence and capabilities during the early part of the sales call is
to plan an effective ___________. CORRECT ANSW-Opening
You are a senior account manager for Impressions, a clothing company specializing in providing
customers with custom tailored business apparel (e.g., suits, blazers, accessories) delivered right to
their door. A major aspect of your role is prospecting for new customers who would pote...
MKT 340 QUIZ 9 QUESTIONS AND
CORRECT ANSWERS
When you using product bundle pricing, sellers combine several products and offer the bundle at an
increased price for increased profit. T/F CORRECT ANSW-false
The demand curve shows the number of units the market will buy in a given time period at similar
prices. T/F CORRECT ANSW-false
Under _____________, the market consists of a few large sellers who are highly sensitive to each
other's pricing and marketing strategies. CORRECT ANS...
MKT 340 QUIZ 8 QUESTIONS AND
CORRECT ANSWERS
An innovation management system would most likely be used by ___________. CORRECT
ANSW-brand managers to collect, review, and evaluate new product ideas.
Modifying a product is an ineffective strategy in the maturity period of the product life cycle because
the product's decline is irreversible at this stage. T/F CORRECT ANSW-False
A product is in the maturity stage of the product life cycle, and the company decides to modify the
mark...
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