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Essay on MKT 571

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MKT 571 FREE Final Exam Review with answer key
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1. Another basis for decision-making is referred to as ethical practices ?? ethical dilemmas situational ethics correct ethics
2. New-to-the-world products are ________.

existing products that are targeted to new geographical markets

new product enhancements that supplement established products

low-cost products designed to obtain an edge in highly competitive markets

new products that create an entirely new market

3. A company can learn a great deal by …show more content…

13. The marketing manager needs to know the cost of the research project before approving it. During which stage of the marketing research process would such a consideration most likely take place?

Step 5 – drafting the report

Step 4 – analyzing the information

Step 2 – developing the research plan

Step 1 – defining the problem

14. What is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering because of the product, service, people, and image?

Total customer benefit

Complete marketing benefit

Ultimate service benefit

Total management benefit

15. The effect of exposures on audience awareness depends on the following three factors:

distance, timing, and focus

space, communication, and advertisements

height, length, and width

reach, frequency, and impact

16. Which of the following can induce a firm to expand into the international arena?

Cater to a domestic mass market

A saturated foreign market

High income level of domestic consumers

A saturated domestic market

17. What are the four characteristics of a marketing audit?

Comprehensive, systematic, independent, and periodic

Announced, semi-annually, dependent, and perpetual

Simple, unique, randomly, and exclusive

Dependent, non-comprehensive, quarterly, and unannounced

18. With ________ as a target market

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