MGT371 Final Exam Review

Marketing objectives must be all of the following except:

• Quantitative

• Action-oriented

• Time specific

• Measurable

Samantha, an intern at an advertising agency, is asked to review how local markets compare based on geographic, demographic, and psychographic differences. Samantha learns that these are most commonly referred to as

• Population segments

• Segmentation variables

• Diversity statistics

• Market segments

The ___________ includes product, place, price, and promotion.

• Operations concept

• Financial mix

• Production concept

• Marketing mix

Changing the perception that customers have of a product is called

• Reprising

• Repositioning

• Repackaging

• Reneging

The obligations of a business to maximize the positive effects it has on society and minimize the negative effects is referred to as

• Sustainability

• Strategic planning

• Social responsibility

• Ethics

Which of the following is not one of the main reasons for business failure?

• Poor management

• Competition

• Overcapitalization

• Improper record keeping

Stella, a tattoo artist, visits tattoo conventions in a nearby city every few months to attract potential customers who live on the outskirts of her business's geographic market. This is an example of using

• Promotion as part of the marketing plan

• Place as part of the marketing plan

• Service policies as part of the marketing plan

• Strategic Alliance as part of the marketing plan

A long-term planning tool used for viewing a business and the environments in which it operates in the broadest terms is

• Strategic alternatives

• Short-term planning

• Intermediate planning

• Strategic planning

Factors such as uses for the product, patents and trademarks, and how the product is different will be found in which of the following sections of a business plan?

• Marketing research and evaluation

• Organization and Management

• Company and industry

• Products and services

According to Dun & Bradstreet, which is the leading cause of business failure?

• Neglect

• Lack of understanding of time and work commitment

• Not hiring additional help when needed.

• Inadequate management