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MAR 3023 Final Exam Spring Questions with correct answers
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MAR 3023 Final Exam Spring Questions with correct answers
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MAR 3023 Final Exam Spring Questions with correctanswers
1) [Airbnb] American tech companies that use business models based on
scale have found China to be an attractive market. Groupon was
concerned about their understanding of local culture and laws, and
decided to partner with Chinese tech company Tencent to form online
deal marketplace Gaopeng, which later failed. Airbnb instead decided to
open a separate Chinese home-sharing
start-up, Aibiying, which is fully controlled by the Chinese branch of
Airbnb in Beijing. Groupon's market entry strategy is best characterized
as , while Airbnb is using a(n) strategy.
A) licensing; direct investment
B) joint venture; direct investment
C) exporting; joint venture
D) direct investment; exporting
E) joint venture; licensing Correct Answer-B) joint venture; direct
investment
2) [importance] In the context of the supply chain, time, dependability,
communication, and convenience are all important concepts in:
A) customer service
B) supplier service
C) retailer service
D) stakeholder service
E) wholesaler service Correct Answer-A) customer service
,3) [Sky Moon] A Patek Philippe Sky Moon Tourbillion men's
wristwatch is among the most expensive in the world, costing more than
$1.5 million in 2013. This is an example of astrategy.
A) penetration pricing
B) target pricing
C) loss-leader pricing
D) prestige pricing
E) bundle pricing Correct Answer-D) prestige pricing
4) [Four Seasons] The Four Seasons chain of luxury hotels has recently
been working hard to bring their traditional direct marketing efforts into
the digital age. They now provide podcasts and interactive exhibits that
help customers plan activities during their stays. They also maintain a
database of customers' specific needs and desires which can be used both
to market vacation opportunities and to provide superior service to their
guests. Their use of digital technologies to improve their direct
marketing is best considered an example of...
A) collaborative filtering
B) electronic data interchange
C) interactive marketing
D) choiceboards
E) one-to-one marketing Correct Answer-C) interactive marketing
5) [cost & profit] Which of the following is NOT a general problem with
cost- and profit-based pricing?
A) They assume that everything produced is sold at full price.
, B) They fail to account for economies of scale.
C) They ignore competitive factors.
D) They focus too much on consumer demand.
E) They are internally focused. Correct Answer-
6) [implementation] Each phase of the strategic marketing process
creates its own unique type of output report. Which of the following
would be associated with the implementation phase?
A) marketing plans that define goals with the pertinent marketing
metrics and the marketing mix strategies to achieve them
B) sales reports using the firm's marketing metrics and dashboards
C) performance reviews for key personnel
D) action memos that tell who is to do what by when
E) corrective action memos, triggered by comparing results with plans,
often from the firm's marketing dashboards and metrics Correct Answer-
D) action memos that tell who is to do what by when
7) [Lower prices] A situation where products are bought in a country
with lower prices from a manufacturer's authorized reseller, shipped to
countries with higher prices, and then sold through unauthorized
retailers below the manufacturer's suggested retail price is referred to as
_________.
A) the black market
B) a gray market
C) dumping
D) a globalized market
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