09 midterm with answers

8/13/2019 09 Midterm With Answers

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Midterm Exam, Mark 6361, Spring, 2009

Name: __________________________________

UH ID: __________________________________Pea!e "rite #$%r UH ID& $n t'e !(antr$n a! "e and )a(ken t'e mat('ing (ir(e!*

M%tipe +'$i(e: Ea(' %e!ti$n! "$rt' 2 p$int!* +'$$!e t'e $ne aternati-e t'at

)e!t ($mpete! t'e !tatement $r an!"er! t'e %e!ti$n*

1. In terms of its effect on the marketing process, undifferentiated marketing:a) increases administrative and production costsb) keeps down advertising and R&D costs pp. 12!"c) increases the firm#s cost for product modificationd) creates more tota$ sa$es than differentiated marketing

e) puts the compan% at risk of being supp$anted b% an entire$% new techno$og%

2. ick 'rahmann, our speaker from (hampion echno$ogies *s$ides were posted) madethe point that

a) a preferred supp$ier has attained the best position to inf$uence a customerb) repeat bu%ers are the on$% customers worth pursuing for a business!to!business

compan% such as hisc) the cost of becoming a +trusted advisor is so great that a compan% se$$ing to

man% customers can on$% afford this ro$e for a sma$$ proportion of them.d) a +b$ue ocean strateg% a$$ows a firm to avoid head!to!head competitione) a technica$ compan% such as his needs to spend a$$ it can on R&D before

considering spending on marketing

. -arketers se$$ing to organiations are $ike$% to encounter ine$astic demand, we said inc$ass. herefore:

a) /ersona$ re$ationships wi$$ not be importantb) /rice cuts ma% not increase tota$ sa$es p. 0c) a$espeop$e ma% +ad3ust their forecasting estimatesd) (ompared to consumer marketing, bu%ers wi$$ be sma$$er and more wide$%

dispersed geographica$$%e) /urchases b% governments wi$$ not be factor in tota$ sa$es

". 4or a bank to segment the market for its services b% marita$ status and target recent$%divorced individua$s wi$$ be most effective ifa) banks are susceptib$e to +churningb) the recent$% divorced group is a $arge enough segment to 3ustif% the e5tra cost

of creating and promoting services to them p. 121c) other banks are a$so targeting this segmentd) other marketers, not on$% banks, are targeting this segment


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e) demand for bank services is not on$% price e$astic but a$so advertising e$astic

6. Database marketing uses information about a customer and that customer#s purchasingbehavior to

a) ask for referra$s

b) p$an promotiona$ e5penditure $eve$sc) bui$d a re$ationship with that customer p. 71d) se$ect channe$ partnerse) find 8ip (odes in other cities with customers simi$ar to customers in the

+home cit%

. If there is one theme to derive from the first ha$f of this c$ass, it wou$d be thatsophisticated marketers e5ce$ at:

a) advertising decisionsb) pricing decisionsc) resource a$$ocation decisions

d) product deve$opment decisionse) distribution decisions

7. 9e ta$ked about the +beer man at our first c$ass to make the point thata) /eop$e bu% benefits, not productsb) echno$ogica$ superiorit% guarantees competitive advantage, according to

/orter#s 4ive 4orcesc) characteristic that is of no importance to customers can be a core

competenc% if a marketer tru$% e5ce$s at it.d) he +marketing concept has man% e5ceptionse) /ure sa$esmanship is more important than other aspects of marketing

;. egments that present the greatest profit opportunit% that fits a firm#s ob3ectives shou$dbe se$ected as


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1=. s consumers eva$uate a$ternatives for purchase, the te5tbook advises a marketer tocommunicate in such a wa% as to

a) change unfavorab$e attitudes, so that +our product $ooks the best

b) compare our product to a $ower >ua$it% offering, so that it $ooks better b%comparisonc) fit our product into the e5isting attitudes of the potentia$ bu%er p. ;7d) shorten the time spent on comparison b% offering a $imited!time dea$e) $engthen the time spent on comparison so that the merits of our product can be

fu$$% e5p$ained

11. *n)


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16. Aearning $eads to genera$iation, according to the te5tbook. he authors offer as ane5amp$e:

a) omebod% who has shopped e5tensive$% for printers wi$$ see them a$$ assimi$ar, compared to someone who has seen on$% a few brands

b) omebod% who has a good e5perience with a computer wi$$ e5pect that thesame compan% wi$$ make high >ua$it% printers p. ;c) he e5perience of owning one printer and using it for a period of time wi$$

make someone a more astute shopper for his or her second printerd) omeone who bu%s printers for a business instead of his or her own use wi$$

know more about how to compare featurese) omeone who $ooks for va$ue in bu%ing a printer wi$$ e5amine more features

more carefu$$%

1. he te5tbook suggests improving the >ua$it% of marketing inte$$igence b%a) estab$ishing a consumer advisor% pane$ p. "1

b) asking competitors to share pricing p$ans, in e5change for sharing one#s ownpricing p$ans with themc) rep$acing the purchase of information such as scanner data with surve% datad) using a +tria$ and error approach to marketing decisionse) avoiding observationa$ data and focus groups

17. he point of showing in c$ass that an auto dea$er might target women for vehic$e oi$changes was to emphasie the potentia$ pa%off from:a) casting as wide a net as possib$eb) se$$ing two obvious$% re$ated productsc) focusing on one demographic segmentd) directing marketing efforts to the $argest possib$e segmente) directing marketing efforts to the segment c$osest to the organiation#s current

customer base

1;. ome organiations bu% strict$% from the $owest price supp$ier, the te5tbook notes,and recommends in such a situation:a) -oving on to seek business from other organiations, not that oneb) Bffering a $ow introductor% price, p$anning to increase it $aterc) Bffering testimonia$s from other bu%ers who purchase in the same product

categor%d) howing that over the $ife of the product the bu%er actua$$% saves with what we

offer p. 1=e) Cefriending the members of the Cu%ing (enter b% 3oining organiations that the%

a$read% be$ong to

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10. he tasks of hiring, training, and motivating ab$e emp$o%ees who work together andembrace a +think customer perspective are a$$ a part of uit%e) he $ike$ihood that a business bu%er ma% be under orders to bu% at the $owest

price

2. he te5tbook considers it important for marketers to understand facets of thetechno$ogica$ environment, such as the fact that

a) he pace of techno$ogica$ change is s$owing downb) growing portion of research and deve$opment spending in the G.. is going

into deve$opment rather than research p. 66c) Regu$ation of techno$ogica$ change in the G.. is becoming $ess re$evant as

companies simp$% shift R&D efforts to other countriesd) he time between the introduction of a techno$ogica$ innovation and peak

production has increased b% 1H over the past decade

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e) 4ewer new ideas are +in the works.

2". ccording to the te5tbook, compan% sa$es potentia$ isa) the ma5imum number of sa$es avai$ab$e to an industr% given a specific $eve$

of industr% marketing effort and environmenta$ conditions

b) ca$cu$ated b% the market bui$dup method, identif%ing a$$ potentia$ bu%ers andtheir potentia$ purchasesc) a conservative estimate of e5pected sa$es vo$ume, used primari$% for making

current purchasing, production, and cash f$ow decisionsd) the sa$es $imit approached b% compan% demand as compan% marketing effort

increases re$ative to competitors p. ";e) determined b% weighting popu$ation and past sa$es figures

26. +market cha$$enger 2 firm in a product categor% is advised to considerapproaches such as

a) Cecoming a +niche p$a%er

b) Refraining from attacking the $eaderc) Imitating the $eading brandd) Increasing the promotiona$ budget so that bu%ers wi$$ perceive the 2 brand as

the $eadere) pecia$iing in a sing$e target market segment

2. In positioning a branded product, if we stack up bad$% against competitors we shou$dat $east considerchanging:

a) our forecasting techni>ues, so that sa$espeop$e have no incentive either toe5aggerate how much their customers wi$$ bu% nor to de$iberate$% estimate too$ow

b) our product, to appear better when compared to competitionc) the environment in which the firm operatesd) the decision to market under a brand nameJ we might do better as a generice) the sie of the potentia$ market, to have additiona$ opportunities

27. aco Ce$$ estimates that a $o%a$ customer might be worth K11,=== to the compan%.his number stems from something ca$$ed


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e) he% ma% $ead to ine$astic demand despite price increases20. 9hich of the fo$$owing is a wa% of differentiating a marketing offering via personne$@

a) training p. 16"b) ordering easec) coverage

d) eventse) conformance

=. eeds pre!e5ist marketing efforts, according to the te5tbook. he statement isa) an attempt to rebut a common comp$aint about marketing pp. !7b) a defense of the +se$$ing conceptc) a basis for e>uating needs and wants .d) an e5p$anation of wh% the term +market has more than one meaninge) a cu$ture!specific idea

Pea!e t%rn $-er t$ Page 10, t'e )a(k $. t'e next page, t$ an!"er t'e /0

p$int mem$ %e!ti$n* $% 'a-e a !'eet $. paper )e'ind it t'at #$%(an tear $.. and %!e t$ dra.t an an!"er 4 a re($mmended appr$a('* N$

need t$ t%rn in t'e dra.t*

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I grade $n# $ne mem$, t'at #$% "rite, egi)#, $n# $n t'e .r$nt $. t'i! page* 5%t

pea!e .ee .ree t$ dra.t a pra(ti(e -er!i$n $n t'e )ank and t'en ($p# it $nt$ t'i!

page a.ter a (are.% rereading and editing*

ssume that %ou are seeking a summer internship with an organiation in ?ouston.

9rite a memo to me te$$ing me *1.) how %ou wi$$ segment the market of possib$eemp$o%ers, *2.) the market segment %ou wi$$ then se$ect to target. hen GI4N thatspecific segmentation!then!targeting decision based on what %ou offer as a differentia$advantage to an emp$o%er.

rIt can be argued that a severe recession weakens the inf$uence of at $east one of -ichae$/orter#s +five forces on the profitabi$it% of a chemica$ compan% such as (hampionechno$ogies, ick 'rahmann#s firm. 9rite a memo to ick se$ecting a +force that %oube$ieve becomes AF of a threat as the econom% weakens, and wh% %ou se$ected it overthe others as $ess inf$uentia$ in a recession than it wou$d be in prosperous times.

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09 midterm with answers

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