MKTG 320 Midterm Exam Updated
Questions And Answers With 100%
Correct Answers Graded A+
QUESTIONS AND ANSWERS
Viviana opened a shoe store and signed a lease on the property. She also signed an
agreement with the manufacturer on the amount of merchandise she will sell and the
promotions she will conduct. Based on this description, which aspect of the marketing mix
does she still need to work on? ANSWER - price
The type of influencer that is widely recognized and has a large following is usually a
_______ influencer. ANSWER - celebrity
Successful firms focus their efforts on satisfying customer needs that ANSWER - match
their core competencies.
For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements
with other countries creates ANSWER - opportunities.
Marketing involves conducting exchanges, satisfying customer needs and wants, and
ANSWER - creating value.
Despite its innovative graphic design, the website for Talia's Jewelry did not seem to
attract customers who lingered. In fact, most website visitors left the site before they made
a purchase. Which measure does the owner need to address? ANSWER - bounce rates
Some banks offer special accounts designed to attract high school students. These
customers typically save such small amounts that the accounts cost banks more to maintain
than they are worth. However, bankers know consumers are creatures of habit and hope the
young people they serve now will become adult customers. These banks recognize
ANSWER - the lifetime value of customers.
A local home catering service keeps information on its customers regarding their
preferences for food and wine, their birthdays and anniversaries, and demographics of
,guests. The service uses this information to inform the customers when holidays and
special occasions are approaching and targets them with special promotions. In this way,
the service is using _______ to build loyalty among its customers. ANSWER - customer
relationship management
In the no-cost app Candy Crush Saga, you get five lives to play in the game. When you lose
a life, it takes 30 minutes in real-life time to get that life back, or you can spend $0.99 to get
all five lives back. Candy Crush Saga is an example of ANSWER - a freemium app.
When Crumbl Cookies sells its gourmet desserts to the public on its website, it is a _____
sale. ANSWER - B2C
During the ______ era, manufacturers and retailers recognized they needed to give their
customers greater value than their competitors did. ANSWER - value-based marketing
_______ is(are) the centerpiece of the marketing environment analysis framework.
ANSWER - Consumers
To create a sustainable competitive advantage, a local university began offering several of
its degrees via online programs. These online degree programs most likely are pursuing
which macro strategy? ANSWER - locational excellence
What would be considered information content on a website? ANSWER - video
One of the goals of value-based marketing is ANSWER - to offer greater value than
competitors offer.
______ involves the process of defining the marketing mix variables so that target
customers have a clear, distinctive, desirable understanding of what a product does or
represents in comparison with competing products. ANSWER - Postitioning
Which generation's members are also known as Gen Y? ANSWER - Millennials
Thought-sharing sites are also known as ANSWER - blogs.
According to one definition, CSR can be described as context-specific actions and policies,
taking stakeholders' expectations into account, to achieve what is referred to as the triple
, bottom line. The triple bottom line includes _______ performance. ANSWER - economic,
social, and environmental
Individuals achieve the _____ effect when they check in and post a picture to Facebook,
upload a video to YouTube, or share a link to an article they have liked on LinkedIn.
ANSWER - connected
When Gerry's Grocery issued new standards for livestock products that were raised on
food without antibiotics or artificial growth hormones, it considered multiple _______,
including the farmers that supply the food, the grocery's customers, and animal welfare
groups. ANSWER - stakeholders
If a bookstore focuses on encouraging its existing customers so shop more frequently,
which growth strategy is it using? ANSWER - market penetration strategy
Marketing channel management is also known as ANSWER - supply chain management
When Luisa, the keynote speaker at a large medical leaders' conference, arrived in the
middle of the night at the Waldorf Astoria, she was exhausted, and her suit was wrinkled
from her 8-hour plane ride. The night clerk arranged for Luisa's suit to be dry cleaned and
have it ready for her morning presentation. She has been a loyal Waldorf Astoria
demonstrated the macro strategy of ______ excellence. ANSWER - customer
______ is/are a traditional contextual element of website design. ANSWER - Font
Macroenvironmental factors include culture, demographics, the economic situation, and the
ANSWER - political environment.
Patagonia's commitment to sustainability is an example of using marketing to ANSWER -
benefit an entire industry or society at large.
At one point in the evolution of marketing, the United States entered a buyer's market and
the customer became king. Which era is being described? ANSWER - market-oriented
Which component of website traffic analysis shows how site users proceed through
information, similar to how a grocery store might try to track the way shoppers move
through their aisles? ANSWER - click path
Questions And Answers With 100%
Correct Answers Graded A+
QUESTIONS AND ANSWERS
Viviana opened a shoe store and signed a lease on the property. She also signed an
agreement with the manufacturer on the amount of merchandise she will sell and the
promotions she will conduct. Based on this description, which aspect of the marketing mix
does she still need to work on? ANSWER - price
The type of influencer that is widely recognized and has a large following is usually a
_______ influencer. ANSWER - celebrity
Successful firms focus their efforts on satisfying customer needs that ANSWER - match
their core competencies.
For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements
with other countries creates ANSWER - opportunities.
Marketing involves conducting exchanges, satisfying customer needs and wants, and
ANSWER - creating value.
Despite its innovative graphic design, the website for Talia's Jewelry did not seem to
attract customers who lingered. In fact, most website visitors left the site before they made
a purchase. Which measure does the owner need to address? ANSWER - bounce rates
Some banks offer special accounts designed to attract high school students. These
customers typically save such small amounts that the accounts cost banks more to maintain
than they are worth. However, bankers know consumers are creatures of habit and hope the
young people they serve now will become adult customers. These banks recognize
ANSWER - the lifetime value of customers.
A local home catering service keeps information on its customers regarding their
preferences for food and wine, their birthdays and anniversaries, and demographics of
,guests. The service uses this information to inform the customers when holidays and
special occasions are approaching and targets them with special promotions. In this way,
the service is using _______ to build loyalty among its customers. ANSWER - customer
relationship management
In the no-cost app Candy Crush Saga, you get five lives to play in the game. When you lose
a life, it takes 30 minutes in real-life time to get that life back, or you can spend $0.99 to get
all five lives back. Candy Crush Saga is an example of ANSWER - a freemium app.
When Crumbl Cookies sells its gourmet desserts to the public on its website, it is a _____
sale. ANSWER - B2C
During the ______ era, manufacturers and retailers recognized they needed to give their
customers greater value than their competitors did. ANSWER - value-based marketing
_______ is(are) the centerpiece of the marketing environment analysis framework.
ANSWER - Consumers
To create a sustainable competitive advantage, a local university began offering several of
its degrees via online programs. These online degree programs most likely are pursuing
which macro strategy? ANSWER - locational excellence
What would be considered information content on a website? ANSWER - video
One of the goals of value-based marketing is ANSWER - to offer greater value than
competitors offer.
______ involves the process of defining the marketing mix variables so that target
customers have a clear, distinctive, desirable understanding of what a product does or
represents in comparison with competing products. ANSWER - Postitioning
Which generation's members are also known as Gen Y? ANSWER - Millennials
Thought-sharing sites are also known as ANSWER - blogs.
According to one definition, CSR can be described as context-specific actions and policies,
taking stakeholders' expectations into account, to achieve what is referred to as the triple
, bottom line. The triple bottom line includes _______ performance. ANSWER - economic,
social, and environmental
Individuals achieve the _____ effect when they check in and post a picture to Facebook,
upload a video to YouTube, or share a link to an article they have liked on LinkedIn.
ANSWER - connected
When Gerry's Grocery issued new standards for livestock products that were raised on
food without antibiotics or artificial growth hormones, it considered multiple _______,
including the farmers that supply the food, the grocery's customers, and animal welfare
groups. ANSWER - stakeholders
If a bookstore focuses on encouraging its existing customers so shop more frequently,
which growth strategy is it using? ANSWER - market penetration strategy
Marketing channel management is also known as ANSWER - supply chain management
When Luisa, the keynote speaker at a large medical leaders' conference, arrived in the
middle of the night at the Waldorf Astoria, she was exhausted, and her suit was wrinkled
from her 8-hour plane ride. The night clerk arranged for Luisa's suit to be dry cleaned and
have it ready for her morning presentation. She has been a loyal Waldorf Astoria
demonstrated the macro strategy of ______ excellence. ANSWER - customer
______ is/are a traditional contextual element of website design. ANSWER - Font
Macroenvironmental factors include culture, demographics, the economic situation, and the
ANSWER - political environment.
Patagonia's commitment to sustainability is an example of using marketing to ANSWER -
benefit an entire industry or society at large.
At one point in the evolution of marketing, the United States entered a buyer's market and
the customer became king. Which era is being described? ANSWER - market-oriented
Which component of website traffic analysis shows how site users proceed through
information, similar to how a grocery store might try to track the way shoppers move
through their aisles? ANSWER - click path
