Click the below link to access the answer

MKT 521 Midterm Exam Complete A+ Answer

Multiple Choice 20 questions (40 pts.)

Choose the appropriate answer.
Question 1.1. In which of the external environments changes usually
occur most slowly? (Points : 2)
Cultural and social environment
Political and legal environments
Resources and objectives of the firm
Competitive environment
Economic and technological environments
Question 2.2.
Jersey G. wanted to start a decorating business. She identified several
possible target markets, but decided to serve a market composed of
recently married couples that owned their first home. Jersey appears to
be following ____________.
(Points : 2)
mass marketing
multiple target market
combined target market
single target market

All of the above.

Question 3.3. MICRO-marketing effectiveness can be measured by
______________. (Points : 2)
the profits of business firms
the opinions of intermediaries
consumer complaints
attitude research studies
All of these are good measurements for MICRO-marketing.
Question 4.4. Mickey and Minnie Jones are preparing to purchase a new
car. He currently has a Toyota Camry and she has a Honda Accord. They
now have two children under age 5, so they plan to trade in Minnies
car to purchase a minivan. Mickey and Minnie decided on a Honda
Odyssey because Minnie is familiar with Hondas and thinks they are
very reliable. In this purchase situation, Mickey and Minnies family life
cycle stage is a _____________ segmenting dimension, and the benefit
Minnie seeks (reliability) is a _____________ segmenting dimension.
(Points : 2)
geographic; demographic
demographic; behavioral
geographic; behavioral
demographic; geographic
behavioral; demographic
Question 5.5. Which of the following observations concerning planning
strategies for international markets is false? (Points : 2)
A marketing manager should know that relying on intuition or
personal experience may be misleading.
A marketing manager should know that understanding local
cultural differences is of no real value.
A marketing manager should know that consumers in a foreign
culture are probably bound by some similar cultural forces.
A marketing manager should involve locals who have a better
chance of understanding the interests of customers.
A marketing manager should understand that many specific
influences do not generalize from one culture to another.
Question 6.6. A producer of electrical components combined electrical
supply wholesalers and manufacturers of electrical equipment into the
same market segment, one of several segments it was targeting. Soon
it lost the manufacturers business to a competitor. It seems that the
firm failed to consider the risk of ______________________.

(Points : 2)
too much aggregating
insulting the manufacturers by putting them in the same market
segment with the wholesalers
picking market segments based on qualifying dimensions
selecting market segments that were not substantial
using too many segmenting dimensions.
Question 7.7. Which of the following statements best describes the
modern view of marketing? (Points : 2)
The job of marketing is to sell whatever the company is producing.
Marketing begins with anticipating potential customer needs.
Marketing should take over production, accounting, and financial
services within a firm.
Marketing is concerned with generating a single exchange
between a firm and a customer.
Production, not marketing, should determine what goods and
services are to be developed.
Question 8.8.
From the perspective of macro-marketing, e-commerce specialists
CarFax (which provides vehicle history reports) and Cars.com (a
website offering auto comparison shopping) have emerged within the
auto industry because _______________.
(Points : 2)
auto manufacturers need to sell direct to consumers
the market needs competitive rivals to auto dealerships
the information they provide makes the exchange process
between producers and consumers more efficient and effective
the role of the automotive sales person is becoming obsolete
consumers live far distances from most automotive plants
Question 9.9.
A marketing manager should __________________.
(Points : 2)
know that most consumer complaints do not require a response
because the consumers dissatisfaction is beyond the control of the
firm
be concerned that many of the complaints that are reported are
never resolved
recognize that many consumers who complain are trouble makers
and that not much can or should be done about their complaints
assume that most customers who are dissatisfied will complain,

but that people who are satisfied will be silent

recognize that a complaint box isnt needed if the firm is really
market-oriented in the first place
Question 10.10. When listening to music on the radio, many consumers
automatically switch stations when commercials begin to run, and they
search until they find another station that is playing music. This
tendency is an example of _____________. (Points : 2)
selective exposure
selective perception
selective retention
selective learning
selective reception
Question 11.11. Prince wants to design a necklace he would like to give
his girlfriend, Charming. Lately though, he has noticed that he is
constantly designing the piece in his head. At times, he even dreams
about the finished work. Prince is probably going through _________
behavior. (Points : 2)
compulsive
creative
subliminal
impulsive
rational
Question 12.12. A marketing analyst for a chicken processor reports
that a rising percentage of people are eating chicken because it has
less fat than beef. Clearly, this firms opportunities may improve with
this change in the ______________.
(Points : 2)
technological environment
cultural and social environment
economic environment
political and legal environment
competitive environment
Question 13.13. The marketing management team for TAMUC Motors
brainstormed a variety of solutions to the problem of how to transport
people in the world. This process came during the __________ step in the
market segmentation process.
(Points : 2)
disaggregating
market definition
segmenting
aggregating
approach selection

Question 14.14. An emphasis on a single countrys interests before

everything else is known as __________. (Points : 2)
socialism
democracy
capitalism
nationalism
entrepreneurship
Question 15.15. When you are in the market for a new car, and are
considering different brands to purchase, what type of market is
involved? (Points : 2)
Product-market
Qualifying market
Generic market
Determining market
None of the above are true.
Question 16.16. A national restaurant chain encourages its customers
to use its website as a means of providing comments about their
experiences at the chains locations. This website is one way of
measuring _______________. (Points : 2)
macro-marketing effectiveness
the effectiveness of competition
employee empowerment
micro-marketing effectiveness
All of these alternatives are correct.
Question 17.17. Which of the following would be the most difficult task
facing a marketing manager? (Points : 2)
Discover the attitudes of the firms target market.
Create new attitudes toward his or her brand.
Promote existing attitudes.
Change existing negative attitudes.
Strengthen existing positive attitudes.
Question 18.18. Which of the following statements about marketing is
FALSE?

(Points : 2)
Marketing affects the products you buy.
Marketing applies to nonprofit organizations too.
Marketing affects the advertising you see and hear.
Marketing offers many good job opportunities.
Marketing can help with individual transactions but not in building

relationships with customers.

Question 19.19. Kim, a new salesperson for Basketball Foods, wants to
call her ex-boyfriend Chris, another salesperson for Basketball Foods
using the company provided cell phone. She is hoping to rekindle their
past relationship. However, Kim knows that there is a strict company
policy against using company equipment for personal use. But Kim also
knows that no one checks the phone log for calls. This relates to
__________ as an influence in ethical decision making. (Points : 2)
individual value system
opportunity
organizational relationships
insubordination
external punishment
Question 20.20. Good marketing managers know that
________________________. (Points : 2)
marketing strategies cant influence consumer wants
marketers cant create internal drives in consumers
it is not that difficult to develop a marketing strategy that gets
consumers to do what they dont want to do
None of these alternatives is correct.
All of the above are true.
True/False Section 10 questions (20 pts.)
Indicate if the following statements are True or False.
Question 1.1. Managers are now applying a new screening criteria,
sustainability, that reinforces the importance of meeting present needs
without compromising the ability of future generations to meet their
own needs.
(Points : 2)
True
False
Question 2.2. The continuum of environmental sensitivity suggests
that industrial products are more sensitive to the cultural environments
in which they are placed than high-style consumer products. (Points :
2)
True
False
Question 3.3. Estimating what price consumers are willing to pay for a
product and if the firm can make a profit selling at that price, is an
example of a production activity. (Points : 2)
True
False
Question 4.4. The legal environment sets the maximum standards of
ethical behavior in a society. (Points : 2)

True
False
Question 5.5. Nike moved beyond shoes and sportswear to offer its
athletic target market a running watch, digital audio player, and even a
portable heart-rate monitor. This is an example of a market
development strategy. (Points : 2)
True
False
Question 6.6. A firm usually has different strategy possibilities that it
can pursue, so it must use screening criteria to help eliminate those
strategies not well-suited to the firm. (Points : 2)
True
False
Question 7.7. Because almost all of the worlds population can read and
write, international marketers have no problems in communicating with
potential customers no matter where they live.
(Points : 2)
True
False
Question 8.8. Unfavorable trends in the domestic marketing
environment may make the international marketing environment very
attractive. (Points : 2)
True
False
Question 9.9. Qualifying dimensions are those that actually affect the
customers purchase of a specific brand in a product-market. (Points :
2)
True
False
Question 10.10. A firm involved in international marketing should pay
even more attention to segmenting than a firm that sells only in the
United States. (Points : 2)
True
False
Essay Section 4 questions (40 pts.)
Answer the following essay questions. Be as thorough as possible.
Remember that this is a graduate level course, and expectations are as
such.
The first part of this MKT 521 course (Chaps. 1, 20, 2, 3, 4, 5) focused
on understanding the target customer. Discuss the importance of this in
relation to differentiation and positioning. (Points : 10)

Discuss the concept of segmentation within the context of the

automotive industry in the US. That is, explain how segmentation is
used by the automotive industry. (Points : 10)
Briefly discuss the 2 approaches to consumer behavior. (Points : 10)

MKT 521 Midterm Exam Complete A+ Answer