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MKC1
Fundamentals of Marketing and Business Communication
| Question | Answer |
|---|---|
| How does cultural diversity affect marketing? | By requiring tailored marketing strategies |
| What element should marketing managers consider when scanning the competitive environment? | Supply chain management |
| A group of producers of a particular product decided to all raise prices together and they were accused of overcharging consumers.Which federal law would have allowed the United States government to investigate this unfair method of competition? | Sherman Antitrust Act |
| Which strategy will be best for the marketer to advocate while faced with a deflationary economic environment? | Seek a long-term contract guaranteeing the sale price of its product. |
| A marketer believes its product has become obsolete for all markets. The marketer feels that a new technology may have created a substitute product and created new desires for their former consumers. What is their best marketing alternative? | Investigate the new technology for opportunities opening in a new industry |
| Marketers in a foreign country have been extremely successful in selling a particular product to a specific target market. They decided to enter the US market and continue their current sales and promotional tactics. What will likely be the outcome? | Targeting the same market in the U.S., they will find that the product does not fit existing cultural values and will not be purchased. |
| How will the group membership influence the individual's purchasing behavior? | The individual will make purchase decisions that comply with group norms. |
| A marketer found that its television promotions are no longer effective because consumers may no longer be watching the advertising commercials. Which influence may be changing consumers' behavior? | Attitude components |
| Which type of problem-solving process do consumers use when making major purchases? | Extended problem solving |
| Which type of scenario requires high-involvement decision making? | Long term big purchase usually involving fears to be quelled and research. i.e. selecting a college, buying a car |
| When there are many competing products and services available to customers, which orientation should a firm adopt? | Market orientation |
| What is an example of marketing myopia? | A department store that views itself as a clothing retailer |
| Why would a manufacturer use market segmentation? | Market segmentation is a marketing strategy that involves dividing a broad target market into subsets of consumers who have common needs (and/or common desires) as well as common applications for the relevant goods and services. |
| A firm wants to expand its marketing efforts. Which market segmentation criteria should be considered? | Diversity of various ethnic groups within the segment |
| Which types of marketing are common positioning strategies? | Consumer behavior research and business-to-business marketing |
| What are some research methods used by marketing researchers to collect primary data? | Interviews, surveys, observations, controlled experiments, and focus groups. |
| A food company plans to cut back on advertising fatty and sugary foods to children and to add new logos to its foods and drinks that highlight more nutritional offerings. Which type of ethical issue is this company considering? | Promotional ethics |
| A firm conducts market research to analyze consumers' perceptions of a product relative to other brands. Which type of strategy is this? | Product positioning strategy |
| A firm's product offering moves into the maturity stage of the product life cycle. Why would the firm increase its promotional outlay? | To differentiate its product from those offered by competitors |
| Which is a method for a manufacturer to add to its product mix? | Purchase a product line from another company |
| Which channel has the role of standardizing exchange processes, such as payment terms, delivery schedules, and purchase lots? | The distribution channel |
| What is a component of a physical distribution system? | Customer service |
| A company decides to locate a new supplier for its main ingredient upon learning that activists have been destroying processing facilities in the area of their current supplier. Which factor caused this change in the global supply chain? | Social-cultural environment |
| How long does an introductory low price last in a penetration pricing strategy? | Until market recognition is achieved |
| What may a manufacturer do to control the minimum price for goods in compliance with fair trade laws? | Severely restrict the number of retail outlets carrying the merchandise. |
| What describes the relationship between pricing objectives and promotion? | Pricing objectives and promotion are interdependent. |
| A United States distributor wants a considerable amount of flexibility with pricing. Which pricing model would it choose for international sales? | Market-differentiated pricing |
| Which element of the promotional mix covers a wide audience with targeted advertising? | Direct marketing |
| A company wants to inform thousands of potential customers about the benefits of their product over products that customers have been using. Which promotional strategy would be effective for this company? | Public relations |
| A company plans to introduce its new product in several different locations with a series of communications tailored for each location. Which form of promotional strategy would the company select? | Interactive media |
| One element of every marketing strategy is the group of people toward which the firm directs its marketing efforts. By which reference is this group known? | Target market |
| What is an element of relationship marketing? | Customer service |
| Potential new entrants to an industry is one element in Porter's five forces model. How does the Internet impact this force? | The Internet lowers barriers to entry. |
| Which tools can be used to develop both marketing plans and business plans? | SWOT analysis |
| A firm has designed a plan that will affect the company for five or more years and provide long-term direction for its decision makers. Which type of planning has the firm developed? | Strategic planning |
| Why would a company choose a second-mover marketing strategy over a first-mover strategy? | To avoid costly mistakes |
| How are the factors considered by a consumer when purchasing a specialty product different from factors considered when purchasing a convenience product? | Image and quality are major considerations for specialty products. |
| What does a company marketing a shopping product include in its marketing mix? | Emphasis on seller's image |
| A doctor gathers all friends and family into the waiting room to deliver news about an operation. What is the message channel in this situation? | Face-to-face |
| What is the process of putting ideas into a message that a receiver will understand? | Encoding |
| A recently-hired administrative assistant is overwhelmed by the number of telephone, e-mail, and instant messages received in the new position. How can the assistant effectively deal with these competing messages? | By setting aside a block of time for dealing with e-mail, instant messages, and telephone messages |
| With which step does the process of successful communication end? | Audience provides feedback to the sender |
| Which process sequence will produce an effectively structured presentation? | Analyze audience, state thesis, outline support, write, revise message |
| Which listener behavior facilitates active listening? | Asking questions |
| How can personal appearance be used to enhance verbal communication? | By lending credibility to the presenter |
| A college professor is preparing to deliver a lecture on a specific theory. How might the professor effectively use visual aids to help students understand the theory? | By summarizing the major points of the theory in a presentation |
| What does the nature of the audience determine in the content of a presentation? | The amount of background information that should be used |
| A manager has been asked to notify employees of a layoff. Which communication style would be appropriate for this communication? | Formal message to the staff |
| A female executive working in the United States is transferred to a company facility in the Middle East. Which communication difference is the executive likely to encounter? | The executive will find that she may not be taken seriously in her role due to her gender. |
| What should a team leader be aware of when communicating with a team whose members are both male and female? | Females focus more on relationships while males focus more on content. |
| A company launches a Web site to market its products. Which type of communication is the company using? | Formal |
| Why would a company choose to use a blog for organizational communications instead of e-mail or instant messaging? | Blogs combine the global reach of the Web site with the conversational exchanges of e-mail or instant messages. |
| A manager is changing the direction of an organization in a way that makes local employees feel uncertain about their futures. Which media is effective for communicating with the employees about the change? | Small group meetings |
| What is a way a team leader can use communication to resolve conflict on a team? | Help team members talk about their anxieties. |
| Which explains how knowledge management facilitates organizational communication? | Only implicit knowledge is stored, thus minimizing demand on resources. |
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lunchbox32
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