Mkt 421 Final Exam Answers Essay

1680 Words Nov 22nd, 2014 7 Pages
MKT 421 Final Exam – Assignment

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Questions to MKT 421 Final Exam Answers are as follow:

1. Compared with other approaches to business, the marketing concept is distinct in that it:

• Produces new products and services.

• Focuses on satisfying customers' needs.

• Focuses on sales.

• Creates a broad assortment of products.

2. The sales analysis of a product revealed that profits were highest when it was initially introduced into the market with a high selling price. However, the price was gradually reduced as it started facing competition as substitutes entered the market. This is an example of a (n) _____.

• Skimming price policy

• Introductory price dealing

…show more content…
• The competitive summary.

• A competitor matrix.

• Rivals chart.

To download the complete paper click MKT 421 Assignment Guide

7. Marketers cannot assume that a product that meets consumer needs in one country will do so in another. This is because:

• The purchase situations may be different.

• Family life cycles may be different.

• Many wants are culturally learned.

• Economic wants do not influence purchases in many regions of the world.

8. The main difference between the "marketing department era" and the "marketing company era" is:

• More emphasis on short-run planning in the marketing company era.

• More emphasis on selling and advertising in the marketing department era.

• Whether the president of the firm has a background in marketing.

• Whether the whole company is customer-oriented.

9. David Oreck advertises Oreck vacuum cleaners via commercials that run on national radio programs. He encourages consumers to "…try my 8-pound Oreck vacuum for free for 30 days," and to return it if they aren't satisfied. He then provides an easy-to-remember toll-free telephone number that consumers can use to place orders. Regarding the AIDA model, the free-trial period and availability of a toll-free number are devices used mainly to:

• Obtain action.

• Hold interest.

• Arouse desire.

• Get attention.

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