MKTG 3340 Exam #2 Questions and Answers 100% Accurate.generate profitable Revenue - ANSWER-The purpose of marketing is to...B - ANSWER-Which statement is most likely true about idea generation in the new product development process?
- A company can either develop ideas through internal or external sources but not
- Idea generation is usually followed by procedures that reduce the total number of
- Most companies set a limit for the number of ideas generated to simplify the process.
- Idea generation is most effective when it occurs after idea screening.
- Intrapreneurial programs enable customers to contribute to the idea generation
through both.
ideas.
process.crowdsourcing - ANSWER-Kallton is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Kallton is using _____ to generate new product ideas.test marketing - ANSWER-Foods International is developing a new gluten-free pretzel.The marketing strategy for the product has already been developed and presented to top management. Several prototypes were also formulated by the company's R&D team. The final prototype is now being tested rigorously to ensure that it passes FDA standards. Once approved, the next step will most likely be...value-based - ANSWER-A ________ pricing strategy for an offering begins with an assessment of customer needs and perceptions. Then a target price is set based on customer perceptions of worth.cost-plus - ANSWER-Lovely Skin is establishing a pricing strategy for a new moisturizer. The total cost to produce each unit is $3.50. The company has decided to add a $1.50 markup, so the unit price to distributors will be $5. Lovely Skin is using a ________ approach to price the new moisturizer.competition-based - ANSWER-Los Amigos, a new Mexican restaurant, has set up shop across the street from Hot Tamales and More. Which of the following pricing strategies will Los Amigos likely use? 1 / 2
market-skimming - ANSWER-With each new generation of Apple iPhone, iPad, or Mac computer, new models start at a high price then work their way down as newer models are introduced. Apple initially uses a _____ strategy.C - ANSWER-Which of the following would be considered an upstream partner in a company's supply chain?
- a firm that resells a finished product and shares the net sales with the producer
- a firm that a firm that markets a product to consumers through social media
- a firm that provides technical expertise in the production of a product
- a firm that buys products at wholesale cost from the company
- help a company develop a direct channel selling system
- facilitate the production of products without direct customer feedback
- buy small quantities of products from producers and break them down into narrow
- transform the assortments of products made by producers into the assortments
- a conflict between Performance Inc. and The Sneaker Store
- a conflict among Performance Inc., The Sneaker Store, and Sports Discounters
- a conflict between The Sneaker Store and Sports Discounters
- a conflict between Performance Inc. and Sports Discounters
- a conflict between Performance Inc. and Topnotch Manufacturers
- / 2
D - ANSWER-Which of the following applies to a marketing intermediary who buys brand name toothpaste from 10 different manufacturers, consolidates offerings, and then resells the various brands to 500+ supermarkets?
assortments for customers
wanted by customers A - ANSWER-Performance Inc. sells its newest athletic shoe styles to The Sneaker Store and distributes dated or slightly defective merchandise through Sports Discounters. Performance Inc.'s main competitor is Topnotch Manufacturers.Performance Inc. also markets its products through the company Web site. They decide to offer a short-term online promotion to encourage consumers to buy their newest athletic shoes, promoting a 20 percent discount off current retail prices. In such a distribution channel, which of the following would be considered a vertical conflict?
vertical marketing system - ANSWER-A ________ consists of producers, wholesalers, and retailers acting as a unified system. The system can be dominated by any one of the interdependent members.sales promotion - ANSWER-In a marketing communications mic, _____ refers to any short-term incentive that encourages the purchase or sale of a product or service.direct marketing - ANSWER-In a promotion mix, ______ involves personally connecting with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships.