MKT 421 FINAL EXAM – LATEST 2014
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MKT 421 FINAL EXAM - LATEST 2014
1. A producer might use a "pulling policy" rather than a "pushing policy" if:
• Intermediaries are reluctant to handle a new product.
• Its sales force has been very successful getting wholesalers and retailers to handle its product.
• It has a very limited promotion budget.
• It is offering a very "high-tech" product to a small product-market.
2. When new product ideas are chosen based on ratings and comments from customers, this process is called ______.
• Creative resourcing
• Idea engineering
• Reaction engineering
3. The primary purpose of branding is:
• To prevent competitors from stealing product ideas.
• To boost customer satisfaction.
• To identify a product.
• To enhance package design.
4. The company tries to follow an organized new-product development process—rather than using a faster and more spontaneous, "race-to-market" approach.
• The managers worry too much about the competition.
• The product fails to offer the customer a unique benefit.
• The company delays putting the product on the market until it develops a complete marketing plan.
5. Genetech Corp. has invested heavily to develop a patented new product. Genetech wants to achieve a rapid return on its investment. It probably should set a ______________ pricing objective.
• Status quo
• Target return
• Profit maximization
6. In the American Marketing Association's Statement of Ethics, which ethical value stresses a firm's attempts to balance the needs of its buyers with the interests of sellers?
7. David Oreck advertises Oreck vacuum cleaners via commercials that run on national radio programs. He encourages consumers to "…try my 8-pound Oreck vacuum for free for 30...