MKT 571 Week 6 Final Exam NOTES Essay

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1. What type of strategy consists of geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing
Price adaptation
2. The three guidelines for anticipating management reactions are (1) prior to the crisis during normal day-to day operations, (2) at the moment some event triggers the crisis, and (3) during the crisis situation that triggers the event. These guidelines are the stages for ________. crisis management
3. A social definition of marketing says marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others
4. If the Ford GT is designed to accelerate to 50 miles per hour
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This is an example of what level in the consumer-value hierarchy
Basic product
11. 2Wheels conducts exhaustive customer surveys to discover customer preferences and attitudes towards the brand. Sally uses cluster analysis to classify the data and help the company determine the trends in the information. Sally is using the technique of ________. data mining
12. With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group. market specialization
13. Marketers need to identify the hierarchy of attributes that guide consumer decision making in order to understand different competitive forces and how these various sets get formed. This process of identifying the hierarchy is called ________. market partitioning
14. A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own.
Split loyals
15.Which of the following can induce a firm to expand into the international arena
A saturated domestic market
16.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 2 – developing the research plan 17. Which control should periodically reassess

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