Mk411
MK 411 Marketing Management Final Exam
Park University, Instructor Cheryl Bernier
Spring 2012
Total Point Value = 300
STUDENTNAME: __Kisha Barrett______________________________________________
DATE: 3/4//2012
NOTE TO PROCTORS: If you are faxing the exam, please ensure that the student’s name appears on each page!
TRUE/FALSE QUESTIONS: To follow are 20 true or false questions. You are to indicate whether each statement is true or false (T or F), based on your readings and understanding of the topics. Indicate your response on the attached answer sheet. Each question is worth 5 points, for a total of 100 points.
1. A product is anything that can be offered to a market to satisfy a want or need. (TRUE)
2. The product hierarchy stretches from basic needs to particular items that satisfy those needs. (TRUE)
3. A service is defined as any act or performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything. (TRUE)
4. Services cannot be stored, so their perishability can become a problem when demand fluctuates. (TRUE)
5. Price elasticity depends upon the magnitude and direction of the contemplated price change. (TRUE)
6. An increasing number of companies are basing their pricing on perceived value, which is the value that the consumer decides the product is worth and is the same across all incomes and regions of the company. (FALSE)
7. Marketing channels are sets of interdependent organizations involved in the process of making a product or service available for use or consumption. (TRUE)
8. Designing a marketing channel involves analyzing customer needs, establishing channel objectives, and identifying cost-saving channels, identifying key channel partners, and evaluating all alternatives. (TRUE)
9. Retailing includes all the activities involved in selling goods or services directly to final consumers for personal, nonbusiness use. (TRUE)
10.
Park University, Instructor Cheryl Bernier
Spring 2012
Total Point Value = 300
STUDENTNAME: __Kisha Barrett______________________________________________
DATE: 3/4//2012
NOTE TO PROCTORS: If you are faxing the exam, please ensure that the student’s name appears on each page!
TRUE/FALSE QUESTIONS: To follow are 20 true or false questions. You are to indicate whether each statement is true or false (T or F), based on your readings and understanding of the topics. Indicate your response on the attached answer sheet. Each question is worth 5 points, for a total of 100 points.
1. A product is anything that can be offered to a market to satisfy a want or need. (TRUE)
2. The product hierarchy stretches from basic needs to particular items that satisfy those needs. (TRUE)
3. A service is defined as any act or performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything. (TRUE)
4. Services cannot be stored, so their perishability can become a problem when demand fluctuates. (TRUE)
5. Price elasticity depends upon the magnitude and direction of the contemplated price change. (TRUE)
6. An increasing number of companies are basing their pricing on perceived value, which is the value that the consumer decides the product is worth and is the same across all incomes and regions of the company. (FALSE)
7. Marketing channels are sets of interdependent organizations involved in the process of making a product or service available for use or consumption. (TRUE)
8. Designing a marketing channel involves analyzing customer needs, establishing channel objectives, and identifying cost-saving channels, identifying key channel partners, and evaluating all alternatives. (TRUE)
9. Retailing includes all the activities involved in selling goods or services directly to final consumers for personal, nonbusiness use. (TRUE)
10.