MKT 6301 FINAL EXAM UPDATED QUESTIONS AND
CORRECT ANSWERS
Question:
1. If you were the marketing manager of an organi-zation that had chosen growth via current
prod-ucts sold to new markets, your organization would have chosen a ________ strategy.
Answer:
market-development
Question:
2. The first step in the business unit strategic-plan-ning process deals with which of the following?
Answer:
Business mission
Question:
3. Gillette continues to manufacture Liquid Paper correction fluid for use with typewriters even
though most of the world uses word processors. It is a small market that has little growth, but Liquid
Paper has the largest market share, and Gillette invests no promotional monies in main-taining the
declining product. Liquid Paper is an example of a ____
Answer:
cash cow
Question:
4. The ________ is the central instrument for directing and coordinating the marketing effort
Answer:
marketing plan
Question:
5. Market-penetration, product-development, and market-development strategies would all be
ex-amples of ________ strategies
Answer:
intensive growth
Question:
6. The acronym SWOT used in the term SWOT analy-sis stands for
Answer:
strengths, weaknesses, opportu-nities, threats
Question:
7. Which of the following terms matches to the phrase "it is a single business or collection of re-lated
businesses that can be planned separately from the rest of the company"
Answer:
Strategic business unit
Question:
8. In the Boston Consulting Group (BCG) model to analyze a firm's strategic business units, or SBUs,
the vertical axis reflects the:
, Answer:
industry growth rate
Question:
9. Assume McDonald's is engaging in a market de-velopment strategy. Which of the following
ac-tions best illustrates a market development strat-egy?
Answer:
opening the first McDonald's in China
Question:
10. ____ are SBUs with a low share of low-growth mar-kets-they may generate enough cash to
sustain themselves, but they do not hold the promise of ever becoming real winners for the firm
Answer:
Dogs
Question:
11. A person's consistent behaviors or responses to recurring situations is his or her ____
Answer:
personality
Question:
12. _____ is a set of distinguishing human psycholog-ical traits that lead to relatively consistent and
enduring responses to environmental stimuli
Answer:
personality
Question:
13. When a consumer makes the final decision on which brand to buy, he or she selects a brand from
the ________ set
Answer:
choice
Question:
14. The fundamental determinant of a person's wants and behavior is the person's ____
Answer:
culture
Question:
15. ____ is the tendency to interpret information in a way that will fit our preconceptions.
Answer:
Selective distortion
Question:
16. If a direct mail marketer wished to direct promo-tional efforts toward the family of ________,
efforts need to be directed toward parents and siblings of the family members
Answer:
orientation
, Question:
17. ____ is the study of how individuals, groups, and organizations select, buy, use, and dispose of
goods, services, ideas, or experiences to satisfy their needs and wants.
Answer:
Consumer behavior
Question:
18. Which problem solving variation would normally be used to purchase such items as toothpaste,
soda, or chewing gum?
Answer:
routine problem solving
Question:
19. ___ assumed that the psychological forces shap-ing people's behavior are largely from the
sub-concious, and that a person cannot fully under-stand his or her own motivations
Answer:
Sigmund Freud
Question:
20. A person's ________ consist(s) of all the groups that have a direct (face-to-face) or indirect
influence on his/her attitudes or behavior
Answer:
reference groups
Question:
21. A ________ consists of a group of customers who share a similar set of needs and wants
Answer:
market segment
Question:
22. All marketing strategy is built on STP-segmenta-tion, targeting, and ___
Answer:
positioning
Question:
23. Forrester Research estimates marketers in 1999 lost about $3 billion in potential sales because
consumers were worried about privacy. Although there are several laws being considered that would
protect consumers' rights to privacy, none has yet made been made into a law. This is one way _____
forces have not helped the growth of electronic commerce
Answer:
legal
Question:
24. Environmental scans have shown that the popu-lation of the United States is undergoing dramatic
change. For example, the number of people in this country who are between the ages of 20 and 34 has
declined since 1990. On the other hand, the number of people who are 65 years of age or older has
increased. These changes in the U.S. population are examples of __________ changes to which
marketers must respond.
CORRECT ANSWERS
Question:
1. If you were the marketing manager of an organi-zation that had chosen growth via current
prod-ucts sold to new markets, your organization would have chosen a ________ strategy.
Answer:
market-development
Question:
2. The first step in the business unit strategic-plan-ning process deals with which of the following?
Answer:
Business mission
Question:
3. Gillette continues to manufacture Liquid Paper correction fluid for use with typewriters even
though most of the world uses word processors. It is a small market that has little growth, but Liquid
Paper has the largest market share, and Gillette invests no promotional monies in main-taining the
declining product. Liquid Paper is an example of a ____
Answer:
cash cow
Question:
4. The ________ is the central instrument for directing and coordinating the marketing effort
Answer:
marketing plan
Question:
5. Market-penetration, product-development, and market-development strategies would all be
ex-amples of ________ strategies
Answer:
intensive growth
Question:
6. The acronym SWOT used in the term SWOT analy-sis stands for
Answer:
strengths, weaknesses, opportu-nities, threats
Question:
7. Which of the following terms matches to the phrase "it is a single business or collection of re-lated
businesses that can be planned separately from the rest of the company"
Answer:
Strategic business unit
Question:
8. In the Boston Consulting Group (BCG) model to analyze a firm's strategic business units, or SBUs,
the vertical axis reflects the:
, Answer:
industry growth rate
Question:
9. Assume McDonald's is engaging in a market de-velopment strategy. Which of the following
ac-tions best illustrates a market development strat-egy?
Answer:
opening the first McDonald's in China
Question:
10. ____ are SBUs with a low share of low-growth mar-kets-they may generate enough cash to
sustain themselves, but they do not hold the promise of ever becoming real winners for the firm
Answer:
Dogs
Question:
11. A person's consistent behaviors or responses to recurring situations is his or her ____
Answer:
personality
Question:
12. _____ is a set of distinguishing human psycholog-ical traits that lead to relatively consistent and
enduring responses to environmental stimuli
Answer:
personality
Question:
13. When a consumer makes the final decision on which brand to buy, he or she selects a brand from
the ________ set
Answer:
choice
Question:
14. The fundamental determinant of a person's wants and behavior is the person's ____
Answer:
culture
Question:
15. ____ is the tendency to interpret information in a way that will fit our preconceptions.
Answer:
Selective distortion
Question:
16. If a direct mail marketer wished to direct promo-tional efforts toward the family of ________,
efforts need to be directed toward parents and siblings of the family members
Answer:
orientation
, Question:
17. ____ is the study of how individuals, groups, and organizations select, buy, use, and dispose of
goods, services, ideas, or experiences to satisfy their needs and wants.
Answer:
Consumer behavior
Question:
18. Which problem solving variation would normally be used to purchase such items as toothpaste,
soda, or chewing gum?
Answer:
routine problem solving
Question:
19. ___ assumed that the psychological forces shap-ing people's behavior are largely from the
sub-concious, and that a person cannot fully under-stand his or her own motivations
Answer:
Sigmund Freud
Question:
20. A person's ________ consist(s) of all the groups that have a direct (face-to-face) or indirect
influence on his/her attitudes or behavior
Answer:
reference groups
Question:
21. A ________ consists of a group of customers who share a similar set of needs and wants
Answer:
market segment
Question:
22. All marketing strategy is built on STP-segmenta-tion, targeting, and ___
Answer:
positioning
Question:
23. Forrester Research estimates marketers in 1999 lost about $3 billion in potential sales because
consumers were worried about privacy. Although there are several laws being considered that would
protect consumers' rights to privacy, none has yet made been made into a law. This is one way _____
forces have not helped the growth of electronic commerce
Answer:
legal
Question:
24. Environmental scans have shown that the popu-lation of the United States is undergoing dramatic
change. For example, the number of people in this country who are between the ages of 20 and 34 has
declined since 1990. On the other hand, the number of people who are 65 years of age or older has
increased. These changes in the U.S. population are examples of __________ changes to which
marketers must respond.
