MKT 571 entire course Flashcards
UOP MKT 571 Final Exam Guide (New, 2018) NEW
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- A fundamental and distinctive mode of expression that appears in a field of human endeavor is called a __________.
- style
- theme
- trend
- pattern
- A firm should use undifferentiated marketing to promote its products when:
• the market shows several natural segments.
• it wants to appeal to multiple market segments. —not sure
• it wants to customize its products for each consumer.
all consumers have roughly the same wants and preferences.
3. The marketing department of StyleWheel Inc., a manufacturer of luxury cars, initiates intensive marketing efforts prior to the launch of a new model. Three months into the launch of the new model, the department decides to assess the short-term effects of its marketing activities. Which of the following is a reliable measure of performance for this purpose? • Perceived quality • Market share • Customer awareness Shareholder value
4. ----------is the first step a firm should take while setting the price for a product. • Determining demand • Selecting the pricing objective • Selecting a pricing method Estimating cost
- Business markets differ from consumer markets in that:
• in business markets, purchasing is often executed through intermediaries.
• the total demand for many goods and services in business markets is elastic.
• buying decisions in business markets are subject to multiple influences.
in business markets, a marketer typically deals with several smaller buyers. - Which of the following best describes the term product system?
• It is a set of variants that are developed for a single product.
• It is a group of products that perform a similar function and belong to a single product class.
• It refers to a set of products available only to high-income consumers.
It refers to a set of different but related items that operate in a compatible manner. - The width of a company’s product mix refers to:
• the extent to which the different product lines in the mix are related in terms of end use.
• the number of variants offered for each product in a product line.
• the number of different product lines carried by the company.
the total number of items in the product mix.
8. Nowadays, a \_\_\_\_\_\_\_\_\_\_ is being appointed by many firms so as to place the marketing function on a more equal footing with the functions performed by other C-level executives. • chief marketing officer • finance manager • chief information officer marketing manager
9. In which of the following stages of a product life cycle are profits nonexistent? • Introduction • Maturity • Decline Growth
- Which of the following statements is true of personal communications channels?
• Their influence on purchase decisions is significant when products are purchased frequently.
• Their effectiveness derives from individualized presentation and feedback.
• They are often less effective than mass communication channels.
They include public relations, advertising, and sales promotions.
11. \_\_\_\_\_\_\_\_\_\_ refers to the capacity to satisfy humanity’s needs without harming future generations. • Profitability • Sustainability • Accountability Durability
12. Fashion Vista Designers, a firm that sells designer clothes, has outlets in four countries. In each country, it offers clothes that suit the climatic conditions of the country and match the cultural sensibilities of the local population. The marketing department of Fashion Vista often releases advertisements that show regional celebrities endorsing the company’s products. In this scenario, which of the following types of market segmentation does Fashion Vista employ? • Geographic segmentation • Psychographic segmentation • Demographic segmentation Behavioral segmentation
- Which of the following is a difference between business markets and consumer markets?
• In business markets, buyers usually purchase products through intermediaries, whereas in consumer markets, buyers usually purchase products directly from manufacturers.
• Suppliers in business markets are often expected to customize their products to suit the requirements of individual business customers, whereas suppliers in consumer markets are seldom expected to do so.
• In business markets, the total demand for goods and services is significantly affected by price changes, whereas in consumer markets, the total demand for goods and services is not significantly affected by price changes.
Purchasing decisions in business markets are made by the end user, whereas purchasing decisions in consumer markets are made by a buying committee.
14. Which of the following measures reflects the short-term results of a firm’s marketing efforts? • Perceived quality • Customer awareness • Sales turnover Market share
15. \_\_\_\_\_\_\_\_\_\_ refers to the activity of designing a company’s product and image so that they occupy a distinctive place in the minds of the target market. • Targeting • Segmentation • Positioning Customization
16. \_\_\_\_\_\_\_\_\_\_ is the process of maximizing customer loyalty by cautiously handling detailed information about customers and all customer touch points. • Product modification • Customer cloning • Customer relationship management Enterprise resource planning
17. The \_\_\_\_\_\_\_\_\_\_ encompasses the actors engaged in producing, distributing, and promoting a product or a service. • legal environment • demographic environment • natural environment task environment
18. \_\_\_\_\_\_\_\_\_\_ divides the market into units such as nations, states, regions, cities, or neighborhoods. • Geographic segmentation • Behavioral segmentation • Demographic segmentation Psychographic segmentation
19. In the context of the value chain, \_\_\_\_\_\_\_\_\_\_ is a primary activity that involves bringing materials into the business. • operations • inbound logistics • technology development marketing
20. \_\_\_\_\_\_\_\_\_\_ refers to a marketing strategy in which a firm tries to cater to all customer groups with all the products they might require. • Multiple segment specialization • Single-segment concentration • Individual marketing Full market coverage
21. Entities that assist in the distribution process of a product but neither take title to goods nor engage in the negotiation of purchases or sales are called \_\_\_\_\_\_\_\_\_\_. • agents • merchants • jobbers facilitators
- Which of the following statements is true of a sharing economy?
• An organization’s trust and reputation have little role in determining its place in a sharing economy.
• A sharing economy is primarily the result of two activities, harvesting and divesting.
• Self-policing mechanisms are typically absent in most platforms that form part of a sharing-related business.
In a sharing economy, an individual experiences the benefits of being both a consumer and a producer. - Which of the following statements is true of fads?
• They usually satisfy a strong customer need.
• They tend to win over only a limited following.
• They have a long acceptance cycle.
They last for several generations. - The __________ refers to the core business process in which an organization researches, develops, and introduces novel, high-quality products quickly and within the firm’s budget.
• customer acquisition process
• customer relationship management process
• new-offering realization process
fulfillment management process
25. When marketers combine an existing brand with a new brand, the product is called a \_\_\_\_\_\_\_\_\_\_. • sub-brand • parent brand • master brand family brand
26. \_\_\_\_\_\_\_\_\_\_ is a period in a typical product life cycle characterized by rapid market acceptance and significant profit improvement. • Introduction • Growth • Decline Maturity
27. \_\_\_\_\_\_\_\_\_\_ seeks to create brand awareness among consumers and communicate to them about new products or new features of existing products. • Informative advertising • Reinforcement advertising • Reminder advertising Persuasive advertising
28. A customer-focused \_\_\_\_\_\_\_\_\_\_ presents a strong, convincing reason why the target market should purchase a product or service. • value proposition • value network • project objective mission statement
- A company that interacts with its customers to get product ideas should:
• engage the right customers in the right way.
• allow all its customers to participate in the product-design process.
• focus solely on its lead users.
prohibit customers from innovating products without its consent.
30. \_\_\_\_\_\_\_\_\_\_ is one of the methods used to develop ideas for a new product in which each feature of an existing product is noted and modified. • Attribute listing • Morphological analysis • Mind mapping Reverse-assumption analysis
UOP MKT 571 Final Exam Guide (New, 2018) NEW
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UOP MKT 571 Week 1 Assignment Researching Marketing Questions
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Purpose of Assignment
This assignment is designed to help students analyze and interpret primary and/or secondary data and research. First, students will be provided with a marketing report that allows for preparing basic executive level data insights. Second, they will be allowed to pick a company and product or service. This assignment will help prepare students for the development of their marketing plan. Students will be creating a marketing plan (refer to Marketing Plan and Outline document) so they may want to choose a company and product or service that has data readily available or where they can use demographic/psychographic data to provide insights.
Assignment Steps
Part 1:
Analyze the Week 1 Business Growth Overview dataset. This is a marketing report generated by an analyst for the Senior Vice President (SVP) of Marketing at a large corporation. The analyst is new and has provided summary data but no insights or commentary for the SVP.
Construct a minimum 525-word memorandum for the SVP providing insights and commentary. The memorandum should include your analysis of the following:
Major areas of increase and decrease in revenue or type and/or category of business
Trends that are evident in terms of revenue or type and/or category of business
Insights that would help formulate marketing strategies to either continue growth or reverse decline
Additional analysis you (if you were SVP) would like to build a marketing goal and strategy or strategies (and why)
Part 2:
Select a global or multi-regional (does business in more than one country) company and one of its products or services that will serve as the basis for your marketing plan. You should obtain two years of annual reports as well as two years of 10K reports (provides a comprehensive overview of the company’s business and financial condition and includes audited financial statements) for your data source. Once you have selected your product or service, you must define the size and type of your selected company that provides the product or service (available from annual reports). This need not be elaborate but must include total number of employees, production volume, distribution methods, and so forth. Record this information in a summary document as outlined below.
Company and product selection is a critical part of this project. You must ensure your proposed company can implement the marketing methods discussed in Marketing Management.
Prepare a minimum 175-word summary document and send it to your instructor as a record of your selection. The summary document should include the following:
Name of Company
Location of Company Headquarters
Name of Product or Service selected
General description of company (number of employees, revenue, type of ownership, web page, etc.)
General description of product or service
Format your assignment consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
UOP MKT 571 Week 1 Assignment Researching Marketing Questions
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MKT 571 Week 1 DQ 1 NEW
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MKT 571 Week 1 DQ 1 NEW
Marketing Events and Supplemental Conversations
What are some of the events that caught your eye during the past week, and what are the marketing implications of those events? Discuss the strengths and the room for improvement in what you have noticed.
MKT 571 Week 1 DQ 1 NEW
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MKT 571 Week 1 DQ 2 NEW
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MKT 571 Week 1 DQ 2 NEW
My Personal Information
How responsive are you to personal questions asked on a survey? Are you more likely to answer questions if you are a customer? What incentive do you need to respond to questions from a company that is not your employer or with whom you are not a customer?
MKT 571 Week 1 DQ 2 NEW
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MKT 571 Week 1 DQ 3 NEW
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MKT 571 Week 1 DQ 3 NEW
Art or Science
How is marketing management both an art and a science? What marketing challenges and opportunities do businesses face today? What marketing challenges and opportunities does your organization face?
MKT 571 Week 1 DQ 3 NEW
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UOP MKT 571 Week 2 Assignment Understanding Target Markets (Nike) NEW
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Purpose of Assignment
To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors. This week’s assignment is the first part of the development of a marketing plan. It provides the foundation of the marketing plan and introduces the student to a variety of diagrammatic tools for understanding a business.
Assignment Steps
To develop effective relationship marketing, a company must first understand its targeted consumers’ buying influences and behaviors. In Week 2, create the Research section of your plan.
Create the research section of your marketing plan in minimum of 700 words.
Include at least 3 elements of the Research List of Topics (see list below):
• Research List of Topics:
o Primary Research
o Secondary Research
o Consumer Analysis
o Customer Profile
o Continuous Consumer Monitoring & Research
o Environmental Scanning
o Identify Market, Economic, Technological, Regulatory, Legal, Social, and Ecological Forces
o Current Opportunities
o Potential Future Opportunities
o Current Threats
o Potential Future Threat
• Diagrams are not required but can be used to provide clarity and conciseness. Diagrams (and subsequent discussion) can include SWOT (emphasizes internal market–Strengths, Weakness, Opportunities, Threats) TOWS (emphasizes the external market–Threats, Opportunities, Weakness, Strength), PEST (Political, Economical, Social, Technological), SOAR (Strengths, Opportunities, Aspirations, Results), and/or STEEP (Social, Technological, Environmental, Economical, Political). All diagram(s) should be in APA format and must include a subsequent discussion of the diagram(s) providing insight and clarity.
Develop the first two parts of the Target Market section, which includes an overview of the demographics (age, income, family members, and birthdays) and psychographics (activities, interests, and opinions) analysis. This is not a detailed analysis but an overview (basic trends and insights from the data that is presented in annual reports and other SEC type filings).
Explain the insights you have gained from your inspection and analysis of the demographic and psychographic information you have found.
This assignment will be incorporated into your overall marketing plan for Week 6.
Cite a minimum of three peer-reviewed references.
Format your assignment consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
UOP MKT 571 Week 2 Assignment Understanding Target Markets (Nike) NEW
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MKT 571 Week 3 DQ 2 NEW
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MKT 571 Week 3 DQ 2 NEW
Marketing Something New
Explain whether you would test market the following newly developed products prior to a full-market launch:
• Blueberry flavored milk
• Eyeglasses with mapping technology
What are the benefits and risks of performing test marketing to product developers or product managers?
MKT 571 Week 3 DQ 2 NEW
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MKT 571 Week 2 DQ 1 NEW
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MKT 571 Week 2 DQ 1 NEW
Watch the Marriott Video in MyMarketingLab®.
Complete the corresponding video guide.
MKT 571 Week 2 DQ 1 NEW
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MKT 571 Week 2 DQ 2 NEW
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MKT 571 Week 2 DQ 2 NEW
Watchthe Harley Davidson Video in MyMarketingLab®.
Completethe corresponding video guide.
MKT 571 Week 2 DQ 2 NEW
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MKT 571 Week 2 DQ 4 NEW
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MKT 571 Week 2 DQ 4 NEW
Marketing Events and Supplemental Conversations
What are some of the events that caught your eye during the past week, and what are the marketing implications of those events? Discuss the strengths and the room for improvement in what you have noticed.
MKT 571 Week 2 DQ 4 NEW
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MKT 571 Week 2 DQ 3 NEW
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MKT 571 Week 2 DQ 3 NEW
Complete the Segmentation, Targeting, and Positioning Simulation in MyMarketingLab®.
MKT 571 Week 2 DQ 3 NEW
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MKT 571 Week 2 DQ 5 NEW
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MKT 571 Week 2 DQ 5 NEW
Buying Behavior
What are some ways your personal consumer behavior has been influenced by your culture, subculture, or personal factors? Have marketers been successful in targeting your personal demographic? Why or why not?
MKT 571 Week 2 DQ 5 NEW
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UOP MKT 571 Week 3 Assignment Promotion and the Product Life Cycle (Nike) NEW
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Purpose of Assignment
All products/services go through a life cycle of NPI (new product introduction), growth, maturity and decline. These various stages affect the marketing strategy and promotional efforts. In Week 3, you will incorporate a product strategy that addresses at least 3 areas of the product life cycle. The primary objective of this assignment is to allow the student to demonstrate an understanding of the factors that can affect the launch of a product or service. A secondary objective is to understand the differences in a product launch in the U.S. (domestic market) and an international market.
Assignment Steps
Generate a minimum 700-word product strategy in Microsoft® Word.
Incorporate a product strategy that addresses the following:
• At least three areas of the product life cycle (NPI-new product introduction, growth, maturity and decline).
• How you will measure (what metrics will be used to determine success or failure) the marketing activities.
• Create at least two different types of media methods for the products. One media method must be a print method and one must be non-print. A media method is a media strategy which highlights your product. For example, (this cannot be used in this assignment), a non-print media method would be a Facebook campaign that provides a user a reward for each review, positive or negative, posted about the use/appearance/price/etc. of the product. In your assignment, you should have 2-3 sentences about each media method (i.e. one paragraph of what you would do, not how to do it).
• Address three elements of the Product and Promotion List (see below).
o Product and Promotion List:
Integrated Marketing Communication
Advertising Strategy/Objectives
Push and Pull
Media Strategy
Advertising Execution
Direct Marketing
Public Relations/Strategies
Positioning
The plan will be a continuation of your global or multi-regional company you chose in Week 1. This will be incorporated into your overall marketing plan for Week 6.
Note: Charts/graphs/tables do not count toward the word count.
Cite a minimum of three peer-reviewed references.
Format your assignment consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
UOP MKT 571 Week 3 Assignment Promotion and the Product Life Cycle (Nike) NEW
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MKT 571 Week 3 DQ 1 NEW
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MKT 571 Week 3 DQ 1 NEW
Marketing Events and Supplemental Conversations
What are some of the events that caught your eye during the past week, and what are the marketing implications of those events? Discuss the strengths and the room for improvement in what you have noticed.
MKT 571 Week 3 DQ 1 NEW
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MKT 571 Week 5 DQ 2 NEW
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MKT 571 Week 5 DQ 2 NEW
Marketing Events and Supplemental Conversations
What are some of the events that caught your eye during the past week, and what are the marketing implications of those events? Discuss the strengths and the room for improvement in what you have noticed.
MKT 571 Week 5 DQ 2 NEW
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