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STR 581 Final Exam : University of Phoenix: Latest Version: All Correct Answers

STR 581 Final Exam : University of Phoenix: Latest Version: All Correct Answers

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Published by: QueenTutor on Aug 24, 2012
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1) 3M, Hewlett-Packard, Lego, and other companies use the ________ to manage theinnovation process.A. joint- venture systemB. skunk worksC. venture teamD.
new product “team”
 E. stage-gate system
2) ________ is the difference between the prospective customer’s evaluation o
f all thebenefits and all the costs of an offering and the perceived alternatives.A. Failure avoidance rateB. Competitors market share rateC. Customer perceived valueD. Report ratingE. Perceived usefulness3) A company can take several steps to improve the quality of its marketingintelligence. If the company purchases competitive products for study, attends open
houses and trade shows, and reads competitors’ published reports and stockholder
information, the company is using ________ to improve the quality of its marketingintelligence.A. intermediariesB. sales force surrogatesC. external networksD. advisory panelsE. customer feedback systems4) Most established companies focus on ________ when it comes to innovation.A. continuous innovationB. incremental innovation
C. everyday innovationD. demand innovationE. competitive innovation5) A(n) ________ is any good, service, or idea that is perceived by someone as new.A. innovationB. productC. new ideaD. creative product6) Total customer satisfaction is the general feeling of pleasure or disappointmentthat results from comparing perceived performance to expectations. To achieve totalcustomer satisfaction, organizations need to_____________.A. Spend more moneyB. Develop marketing campaignsC. Manage customer experiencesD. Lower expectationsE. Lower prices7) A ________ is a set of procedures and sources managers use to obtain everydayinformation about developments in the marketing environment.A. marketing information systemB. marketing research systemC. product management systemD. marketing intelligence systemE. vertical system8) Marketers usually identify niches by ________.A. conducting VALS testsB. dividing a segment into subsegmentsC. allowing consumers to gravitate toward product brandsD. examining the demographics section of The Handbook of MarketingE. producing products that can be used in a variety of ways9) In ________ marketing, the seller engages in the mass production, mass distribution,and mass promotion of one product for all buyers.A. massB. groupC. general
D. segmentedE. differentiated10) Particularly when shopping for ego-sensitive products such as perfumes andexpensive cars, many consumers use price as an indicator of ________.A. abilityB. capabilityC. statusD. sizeE. quality11) A marketing manager needs to know the cost of the research project beforeapproving it. During which step in the marketing research process would such aconsideration most likely take place?A. Step 1
drafting the research objectives.B. Step 2
develop the research plan.C. Step 1
defining the problem.D. Step 3
information collectionE. Step 1
creating decision alternatives.12) Which of the following is generally considered to be the last step in themarketing research process?A. Control the environment.B. Make the decision.C. Present the findings.D. Draft the reportE. Analyze the information.13) ________ is the systematic design, collection, analysis, and reporting of data andfindings relevant to a specific marketing situation facing the company.A. Marketing researchB. DemographicsC. Marketing intelligenceD. Marketing managementE. MIS (marketing information system)14) Following the ________ approach to target market selection encompasses a strong
knowledge of the segment’s needs, a strong market presence, and operating
economies through specializing in production, distribution, and promotion.

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