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Midterm

MKT 100 midterm.doc

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Department
Marketing
Course
MKT 100
Professor
jh
Semester
Winter

Description
• Question 1 Needs Grading In doing early planning for the internationally-famous Armand Doggy Daycare Inc., savvy planners should ensure they do the following in their scan: Answer Selected C. Answer: Look at changes in the channel environment, regulatory environment, consumer environment and competitive environment Correct C. Answer: Look at changes in the channel environment, regulatory environment, consumer environment and competitive environment • Question 2 Needs Grading Which of the following descriptors is NOT indicative of the early stage(s) of the Product Development Adoption process: Answer Selected a. Answer: Early Adopters are key opinion leaders that can influence neighbours and friends since they tend to be among the first to get hold of items or services. Correct b. Answer: Innovators are often taken seriously by their peers. • Question 3 Needs Grading Barney Purples Carpet Cleaning is at it again. Their marketers are calling people to sell their carpet cleaning services. They seem to focus on senior citizen apartment complexes in immigrant communities. Some of their sales people claim to be doing “sterile” cleaning and are giving their customers an official government statement about the dangers of mold in homes. They are not telling customers there is any association between the sterile cleaning and government document. The company slogan is “customer service is #1." The sales manager has based the sales team’s remuneration strictly on the number of contracts signed. Which of the following statements is true? Answer Selected D. Answer: The company is acting in a legal but unethical fashion Correct D. Answer: The company is acting in a legal but unethical fashion • Question 4 Needs Grading When conducting PEST analysis, you are analysing environmental factors because: Answer Selected D. Answer: You want to see how a unique PEST study will affect each of your key customers Correct A. Answer: You want to move your customers away from being too affected by negative environmental factors • Question 5 Needs Grading Near field communication, or NFC, acts like the standard R.F.I.D. (radio frequency) chips that are used to scan passports or credit cards today. When an NFC chip is placed within a short range of an NFC reader, the two gadgets can send small pieces of information back and forth. This can be used to perform simple credit transactions, or could be used to pass information between two gadgets. Experts are developing this technology because surveys have shown that people are getting busier and busier and don’t want to wait. Another example of this cultural driver being noted and responded to by a marketplace development might be: Answer Selected A. Answer: Loyalty cards at Starbucks Correct C. Answer: Coffee-only lines at Starbucks • Question 6 Needs Grading What term best describes the economic value that results from the application and use of technological innovations? Answer Selected B. Answer: The added value of exchange Correct D. Answer: Schumpeterian growth • Question 7 Needs Grading The European Commission is examining Google Inc.'s $3.1-billion (U.S.) bid for online ad tracker DoubleClick so they might review proposals by the world's largest search engine and eliminate any antitrust concerns. Rivals Yahoo Inc. and Microsoft Corp. say the deal will damage competition in the growing Internet advertising market. Based on the concern of Yahoo and Microsoft one could say: Answer Selected B. Answer: A dominant Google could control the market and create barriers to competition that hurt Yahoo, Microsoft, and consumers Correct B. Answer: A dominant Google could control the market and create barriers to competition that hurt Yahoo, Microsoft, and consumers • Question 8 Needs Grading In 2010, Ted gave his mother, Angie, a Dell Inspiron laptop for Christmas so she can talk via Skype to her grandchildren, Anthony and Fernando, while she is in Florida for the winter months. Since Angie has never owned or used a computer before, according to the product/innovation adoption curve, what type of customer is Angie? Answer Selected C. Answer: Lagga rd Correct C. Answer: Lagga rd • Question 9 Needs Grading Dora and Diego meet. Dora has 10 home-baked chocolate chip cookies and Diego has 10 brand new glitter pencils. They discuss whether they would like to barter two cookies for two glitter pencils. Dora agrees because she values two glitter pencils much more than two of her cookies. Diego agrees because he values two cookies much more than two of his 10 glitter pencils. They make an exchange. According to Smith's Theory of Wealth Creation: Answer Selected D. Answer: Dora and Diego’s wealth increases, but the total wealth in the economy stays the same Correct B. Answer: Dora and Diego’s wealth increases, and so does the total wealth in the economy • Question 10 Needs Grading Michael Porters' model of competitive industry structure outlines a series of forces that contribute to a company's overall profitability, which of the following is not one of these forces: Answer Selected c. Answer: The industry cost base. Correct c. Answer: The industry cost base. • Question 11 Needs Grading Le French Snow Tire Inc. is a Quebec-based manufacturer specializing in snow tires for winter driving conditions. It is considering ramping up its production, but there are a number of factors that are influencing that decision. In order to decrease the number of car crashes in the winter, the government of Quebec passed legislation requiring all cars in the province to be equipped with snow tires. Snow tires are subject to the HST, which is perceived by consumers as raising the price. The population is aging, which means the number of kilometres driven in the winter months is declining. The unemployment rate is stuck at 8.5%. More people are switching to smaller cars and there is less tolerance for high polluting vehicles. Which of the above Quebec-based environmental factors will have the most influence on Le French's decision about ramping up production or not? Answer Selected B. Answer: The government’s legislation about snow tires Correct B. Answer: The government’s legislation abo
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