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FINAL EXAMINATION FOR INTEGRATED MARKETING STRATEGIES – MKT/498
Instructions:
1) Use the Final Exam Answer Key Excel file to record your answers for this exam.
2) Put your name at the bottom of the Answer Key where indicated.
3) Save the Answer Key in the following format: Firstname-Lastname-FinalExam.xls.
4) Post your completed Final Exam Answer Key to the Assignments link no later than midnight Phoenix time on our final day of class (Day 7 of Week 5).
5) Each of the 50 Multiple Choice & Multiple Select and the 50 True/False questions below is worth 1 point. Indicate your answer by putting an “X” in the correct column or columns on the Answer Key. Note that some questions may instruct you to “Select all that apply.” If you do not see that instruction, then only a single option is the correct answer.
6) This final exam is worth 15% of your grade in this course.
Multiple Choice & Multiple Select Questions
1
The foundation of an IMC plan includes all of the following elements except:
a. Pay-per-click manager
b. Corporate image
c. Brand management
d. Analysis of buyer behaviors
e. Promotional opportunity analysis
2
A system of partnerships and alliances that a firm creates to source, augment, and deliver its offerings is called ________.
a. A demand chain
b. A channel arrangement
c. A value network
d. Vertical marketing
e. Horizontal marketing
3
Which of the following is NOT an element in the process of communicating a message?
a. Senders and receivers
b. Publicity
c. Encoding and decoding
d. Feedback and noise
e. Media
4
________ are the people who control the flow of information to members of a buying center in an organization.
a. Influencers
b. Whistleblowers
c. Deciders
d. Gatekeepers
e. None of the above
5
Xerox offers a color printer that sells for $1,200, which they want to market to businesses. As the marketing manager for Xerox printers, you want to select an advertising medium that has a long exposure time and that can attract and retain a prospective customer’s attention, and you have a budget of $20 million. Which communications medium would best the choice to meet these criteria?
a. Print ads in a trade journal and/or national newspaper
b. Cable TV ads
c. Pop-up ads on specific Web sites
d. POP displays
e. Social media advertising
6
________ is a joint venture where two or more brands join into a new product or service.
a. Flanker branding
b. Ingredient branding
c. Cooperative branding
d. Complementary branding
e. Brand extensions
7
The most common form of “noise” in marketing communications is:
a. Use of too much movement
b. Distractions from other people
c. Size of the typeface used in print messages
d. Clutter
e. Use of too much color
8
All of the following are functions of public relations except:
a. Determining product, price, place, and promotions
b. Identifying and communicating with internal and external stakeholders
c. Lobbying
d. Press relations
e. Preventing or reducing damage to the company’s image during a crisis
9
Effective ________ refers to the number of times a target audience must be exposed to an advertising message in a specified period of time in order to achieve a particular objective, while effective ________ is the percentage of an audience that must be exposed to a particular advertising message during a certain period in order to achieve a specific objective.
a. marketing, advertising
b. frequency, reach
c. CPM, GRP
d. recency, cost-per-contact
e. continuity, impressions
10
Which of the following is NOT a way to segment consumer markets?
a. By loyalty status
b. By values
c. By occasions when a need may develop
d. By usage rate
e. All of the above are ways to segment consumer markets
11
Which of the following are ways to segment business markets? (Select all that apply)
a. By size of the business in dollars of revenue
b. By stage of the decision process
c. By industry
d. By benefits sought
e. By usage rate
12
The steps in writing a marketing plan include all of the following except:
a. Creating a marketing budget
b. Developing marketing strategies and tactics
c. Hiring a consultant to do the job for you
d. Evaluating promotional alternatives
e. Conducting a situation analysis
13
The marketing activity of ________ involves creating a customer-focused value proposition so that the company’s product/service and its image occupy a distinctive place in the minds of a target market.
a. Competitive strategy
b. Points-of-difference (PODs) strategy
c. Points-of-parity (POPs) strategy
d. Positioning strategy
e. Branding strategy
14
Changes in the macro environment are a primary basis for new market opportunities. Which of the following is NOT a force in the macro environment?
a. Company competencies
b. Demographics
c. Psychographics
d. Competition
e. Weather and natural disasters
15
When a company sells a product in different countries but maintains the same basic message in each country, this is called:
a. Globalization
b. Channelization
c. Adaptation
d. Standardization
e. Differentiation
16
The goal of branding is:
a. To save money over having to name each product individually.
b. To tell consumers what your product’s compelling benefits are.
c. To charge higher prices for your company’s products.
d. To set your product apart from its competitors.
e. To create as much of a monopoly for your products as possible.
17
The three main components of advertising are (Select three):
a. The management program
b. Public relations
c. Advertising design
d. Post-evaluation
e. Media selection
18
All of the following statements about having a direct sales force is true except:
a. The purpose of the sales force is to produce sales.
b. A highly skilled salesperson does not need direction, objectives, training, or motivation from the manager or company.
c. Salespeople are very costly to the company that employs them.
d. Sales forces can be organized by territory, by product, or by customer.
e. One of the objectives of a salesperson is to gather information about the sales environment and bring it back to the company.
19
Which of the following is NOT an effective ways to establish a communications budget?
a. Spend a percentage of the sales revenue you anticipate making in the next year.
b. Spend only what you think you can afford.
c. Spend as much as the competition does.
d. Spend a percentage of last year’s sales revenue.
e. All of the above are effective ways to establish a communications budget.
20
________ is creating a perception in the consumer’s mind regarding the nature of a company and its products relative to the competition.
a. Public relations
b. Private labeling
c. Positioning
d. Packaging
e. Promoting
21
Which of the following is a component of a corporate image? (Select all that apply)
a. Employees and customer service
b. Retail outlets and Web sites
c. Advertising and public relations
d. Products
e. Mission and vision statements
22
When ________ occurs, consumers believe that many brands offer the same set of attributes, which results in consumers purchasing from a group of accepted brands rather than one specific brand.
a. Promotional analysis
b. Perceptual analysis
c. Brand parity
d. Price analysis
e. Channel power
23
A formal agreement between a retailer and a manufacturer to undertake a promotional effort together is called a ________.
a. Cooperative merchandising agreement
b. Vendor support program
c. Partnership contract
d. Sales program allowance
e. Merger
24
________ are strongly held beliefs about various topics or concepts which lead to the judgments that guide personal behavior.
a. Affective components
b. Attitudes
c. Cognitive maps
d. Values
e. Evoked sets
25
A buyer’s behavior is influenced by four major factors: social, cultural, psychological, and personal. Into which of those four categories would the customer’s motivation, learning, perception, beliefs, and attitudes fall?
a. Social
b. Cultural
c. Psychological
d. Personal
e. None of the above
26
Steps that a marketer can take to build brand equity and recognition include all of the following except:
a. Engage in continuous innovation.
b. Move fast.
c. Integrate old and new media.
d. Focus on domination.
e. No exceptions; all of the above are steps that a marketer can take to build brand equity and recognition.
27
All of the following could be a marketing communication objective except:
a. Develop brand awareness
b. Build customer traffic
c. Enhance the firm’s image
d. Increase sales
e. No exceptions; all of the above are possible marketing communication objectives.
28
A set of businesses or a group of individual consumers with distinct characteristics that are similar in nature is called a ________.
a. Psychographic market
b. Homogeneous group
c. Demographic market
d. Market segment
e. Heterogeneous group
29
A ________ is a method used to measure emotional responses to advertisements.
a. Portfolio test
b. Recall test
c. Storyboard layout
d. Warmth monitor
e. Brainstorming session
30
The ________marketing strategy involves a manufacturer using its sales force and trade promotions to entice intermediaries to carry, promote, and sell its product to the end users.
a. Integrated
b. Pull
c. Push
d. Optimal
e. Segmented
31
Which of the following is NOT a recent trend in the consumer buying environment that has affected consumers’ purchasing patterns?
a. Cocooning
b. Information complexity
c. Time pressure
d. Changes in family units
e. Reduced choices among available alternatives
32
All of the following are recent trends in the business-to-business buying environment that have affected companies’ purchasing patterns except:
a. Database mining
b. Emphasis on accountability
c. Global branding
d. Reduced competitive pressures
e. Importance of e-commerce
33
When developing media objectives, marketers should be concerned with which of the following concepts? (Select all that apply)
a. Gross rating points (GRP)
b. Cost per thousand (CPM)
c. Opportunity to see (OTS)
d. Impressions
e. Continuity
34
The ________ theory suggests that a consumer’s attention is selective, a consumer’s attention is focused on his or her individual needs and wants, and that ads seen closer to a purchase are more powerful than ads which reach individuals who are not in the market for that particular product.
a. Recency
b. Frequency
c. Reach
d. Psychographic
e. Learning
35
All of the following are considered to be demographic factors except:
a. Marital status
b. Years of education completed
c. Number of pets owned
d. Religious beliefs
e. Political affiliations
36
A decision-making rule in which we rely on past experiences in order to quickly eliminate as many options as possible is called ________:
a. A compensatory mechanism
b. The fight-or-flight instinct
c. A heuristic
d. A lifecycle category
e. Survival mode
37
A ________ has the following three characteristics: it is a source of competitive advantage, it has applications in a wide variety of markets, and it is difficult for competitors to imitate.
a. Market niche
b. Core competency
c. Value network
d. Product description
e. Promotional element
38
Michael Porter proposed the “value chain” as a tool for identifying ways to create more customer ________.
a. Value
b. Satisfaction
c. Benefits
d. Sales
e. Products
39
According to the e-text, business can be defined in terms of three dimensions, which are _______.
a. Assets, liabilities, and sales revenue
b. Customer groups, customer needs, and technology
c. Industry, sector, and geographic location
d. Product lines, services, and warrantees
e. Strengths, weaknesses, and opportunities
40
The ultimate level of marketing segmentation is ________.
a. Niche
b. Local
c. Mass
d. Individual
e. Homogeneous
41
________ are sets of interdependent organizations involved in the process of making a product or service available for use or consumption.
a. Trade associations
b. Middlemen
c. Wholesalers
d. Market channels
e. Value networks
42
A distribution strategy in which the seller tries to place his products in as many outlets as possible is called ________.
a. Intensive distribution
b. Exclusive distribution
c. Managed distribution
d. Minimized distribution
e. Monopolistic distribution
43
For refunds or rebate programs to be effective, the offer must have which of the following components? (Select all that apply)
a. High intrusion value
b. Visibility
c. Low CPM
d. Perceived newness
e. An impact
44
Wholesalers primarily rely on ________ to achieve their promotional objectives.
a. Advertising
b. Sales promotions
c. Personal selling
d. Publicity
e. Public relations
45
The ________ perspective can help a company to identify superior suppliers and distributors and to improve productivity, which ultimately brings down the company’s costs.
a. Supply chain
b. Market logistics
c. Physical distribution
d. Total cost management
e. Sales
46
In advertising evaluation, ________ is a format in which individuals are given copies of an ad and are asked if they recognize it or have seen it before.
a. Story board testing
b. Recognition testing
c. Opinion testing
d. Readiness-to-buy testing
e. Likeability testing
47
________ are the set of measures a company uses to quantify, compare, and interpret marketing performance.
a. Marketing metrics
b. Market share analysis
c. Micro sales analyses
d. ROI computations
e. Sales analyses
48
A corporate image is created by both tangible and intangible elements. Which of the following are the intangible elements of a corporate image? (Select all that apply)
a. Corporate ethics
b. Media reports
c. Goodwill
d. Warehouses and retail outlets
e. Patents and trademarks
49
________ are names generally assigned to an individual good or service or to a group of complementary products.
a. Logos
b. Brands
c. Product lines
d. Merchandise groups
e. Slogans
50
In order to evaluate the effectiveness of public relations, all of the following methods can be used except:
a. Test markets
b. Number of impressions
c. Number of clippings
d. Attitude and opinion tests
e. Copy testing
True / False Questions
51
“Communication” can be defined as transmitting, receiving, and processing information.
52
The product life cycle includes introduction, growth, maturity, and decline.
53
An IMC campaign is important only for large businesses that have the large budgets necessary to implement the strategies, and is less important for small or start-up businesses.
54
Only 10% of all promotional dollars are spent on elements other than advertising.
55
The 80/20 rule states that 80% of a company’s profits come from 20% of its customers, which is why it is important for marketers to maximize customer lifetime value.
56
Organizations should attempt to try to change consumers’ attitudes about their product and service attributes, rather than trying to closely match their product or service attributes to the consumers’ attitudes.
57
A company’s image in the U.S. is not important when expanding internationally because customers in other countries have not yet been exposed to the company.
58
The term “prospecting” when applied to personal selling means to establish and maintain relationships with key customers.
59
Although B2B marketers are increasingly using technology-based advertising media, trade journals and business magazines still remain an effective method for reaching specific target markets.
60
Internet service providers, e-commerce sites like eBay and Amazon, and search engines like Google are all examples of the so-called “brick-and-click” companies.
61
Reinforcing or rejuvenating a current image that is consistent with the view of consumers is easier to accomplish than changing a well-established image.
62
Two steps in the process of personal selling are determining which products the company should sell and overcoming the objections of prospective buyers.
63
Advertising via direct mail provides opportunities for marketers to measure the lifetime value of a customer and answer customers’ product-related questions.
64
When firms sell virtually the same goods or services to both consumers (B2C) and businesses (B2B), they are practicing what is called co-branding.
65
Negotiation is the preferred strategy in personal selling whenever a “zone of disagreement” exists.
66
When analyzing promotional opportunities in global markets, marketing managers should examine the same types of criteria that they use when analyzing promotional opportunities in domestic market segments.
67
The main reason that manufacturers sell directly to retailers or to final consumers rather than through wholesalers is because this direct channel results in higher profits to the manufacturer.
69
When using e-marketing, it is preferable to make it difficult for consumers to unsubscribe so that you can continue to have opportunities to build a relationship with those consumers.
69
Customer service is a part of creating “goodwill” for a company.
70
The “80/20 Rule” states that 80% of your customers will account for 20% of your sales.
71
Direct marketing includes one-on-one selling, database marketing, and customer relationship management (CRM).
72
Information technology has led to few improvements in logistical efficiency.
73
Using mail, telephone, fax, e-mail, or the Internet to communicate directly with consumers is called personal selling.
74
The average number of times an individual, household, or business within a particular target market is exposed to a particular advertisement within a specified time period is known as cost per thousand (CPM).
75
A niche market is characterized by a fairly narrowly defined market with a complete and distinct set of needs, and a willingness to pay a premium to meet those needs.
76
If a company wants to keep transportation costs as low as possible, it should use truck and rail as often as possible.
77
With just-in-time production, supplies arrive at the factory at least one week before they are needed.
78
A trade promotion is the expense or incentives used by manufacturers to help push products through to retailers.
79
An organization’s stakeholders include employees, stockholders, public interest groups, the government, and society as a whole.
80
The four major types of non-store retailing are direct selling, direct marketing, automatic vending, and buying services.
81
A value network is a system of partnerships and alliances that can include business suppliers, the suppliers’ suppliers, and the immediate customers and end users.
82
A SWOTT analysis and a PEST analysis are the best tools to use when creating a positioning statement.
83
The marketing tactics used at each stage of a product’s lifecycle must be related to the goals you have for the product at that point in time.
84
The dominant mode of distribution in the U.S. is a horizontal marketing system.
85
The two most common areas of an IMC campaign that are assessed are market share and return on investment (ROI).
86
When evaluating the overall IMC plan, things that can be analyzed include profitability, social responsibility, and employee performance and attitudes.
87
Most producers sell their goods and/or services directly to the final user.
88
Gifts given by either the retail store or the manufacturer when a customer purchases a product are known as legal bribes.
89
Intermediaries in the supply chain normally achieve higher efficiency in making goods widely available to producers’ target markets than if the producers conducted the direct marketing themselves.
90
To achieve the best results, distribution channels should remain intact over time.
91
In a vertical marketing system (VMS), two or more unrelated companies put together resources or programs to exploit emerging opportunities; an example of this is how many grocery stores have a bank branch within their locations.
92
In e-commerce, a pure-click business has no storefront locations and uses only an online marketing channel.
93
Elements of the marketing communication mix include advertising, public relations, publicity, trade promotions, and personal selling.
94
The difference between sales promotions and trade promotions is that sales promotions involve a sale to an end user or consumer, while trade promotions are used by manufacturers to help push products through to retailers.
95
Examples of trade promotions include coupons, premiums, sampling, contests, and sweepstakes that may be funded by either the retailer or the manufacturer of the product/service.
96
The five steps of the consumer decision-making process are information search, evaluation of alternatives, purchase decision, buying the product, and recommending the product to friends and colleagues.
97
The stage of a consumer’s lifecycle is a type of psychographic segmentation.
98
Psychographic segmentation includes cultural affiliation, stage in life cycle, pleasure pursuits, and health emphasis.
99
After all the research and evaluation is completed, the first step in creating an IMC strategy is to determine which types of promotions to use.
100
The point of having a marketing channel is to make a product more accessible to the customer.