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
• Crowdsourcing
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
• Sales-oriented
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?
• Responsibility
• Citizenship
• Fairness
• Honesty
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...