PRE-ASSESSMENT: MARKETING FUNDAMENTALS PDKO WGU C425, Exam Questions & Answers, Approved.

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PRE-ASSESSMENT: MARKETING FUNDAMENTALS PDKO WGU C425, Exam Questions & Answers, Approved. Which actions represent the facilitating functions of marketing? Buying and selling Transporting and st... oring Consuming and disposing Standardizing and grading - ✔✔-Standardizing and grading A sporting goods company is developing a marketing plan. Which two statements represent the strategic level for this plan? The company leadership wants to inspire people to get outdoors more often. The company leadership seeks to expand distribution to retail specialty shops. The company leadership organizes nature hikes that depart from participating retailers. The company leadership uses personal contacts with retailers to increase sales. - ✔✔-The company leadership wants to inspire people to get outdoors more often. The company leadership seeks to expand distribution to retail specialty shops. An outdoor clothing company is revising its marketing plan and wants to emphasize sales promotion strategies. Which goal of this marketing plan is considered strategic? Enhance dealer effectiveness Place in-store product displays Attend recreational sporting events Advertise on lifestyle-oriented websites - ✔✔-Enhance dealer effectiveness A home improvement store has a cooler that contains soft drinks and other beverages at its checkout lanes. The company believes this is a way to increase profits, while providing a better shopping experience for its customers. Which type of utility is being provided here? Time Form Place Ownership - ✔✔-Place A large clothing manufacturer wants to begin offering athletic apparel in a market that is already dominated by two well-known companies. The new manufacturer will impact the other two companies' market share. Which of Porter's five forces will the two well-known companies experience? Threat of new entrants Bargaining power of buyers Threat of substitute products Bargaining power of suppliers - ✔✔-Threat of new entrants A group of small, independent grocery store owners have come together to negotiate better prices for meat products from suppliers. Which of Porter's five forces do the store owners represent to the meat suppliers? Threat of new entrants Bargaining power of buyers Threat of substitute products Bargaining power of suppliers - ✔✔-Bargaining power of buyers What is an advantage of using first-mover strategy? Companies reduce their risk. Companies capture the greatest market share. Companies recognize changes in customer needs. Companies avoid complacency in pre-market innovation. - ✔✔-Companies capture the greatest market share. A new clothing company is trying to penetrate the department store market by offering its clothing at a cost to customers that is lower than expected. The intent is to build a loyal customer base. Which element of the marketing mix does this represent? Price Purchasing Promotion Distribution - ✔✔-Price Company A, a medical supply company, offers low prices and free shipping on any sized order. However, the company has noticed that one of its competitors, Company B, has a larger market share, despite higher prices. Upon investigating further, Company A realizes that Company B has a trained sales team that visits each client to close its sales. What is the marketing mix element that company B emphasizes over company A? Price Product Promotion Distribution - ✔✔-Promotion An automotive company uses the same car chassis in manufacturing both regular and high luxury brands. Which potential strength occurs with this platform manufacturing design? Lower development costs Increased product diversity Lower cannibalization rates Increased compatibility changes - ✔✔-Lower development costs A large retail company competes against other low-cost, big-box retailers. The company pays its employees significantly higher hourly wages than other big-box retailers and manages to be highly profitable. This company receives industry recognition for its wage policy. How can the company capitalize on this strength using a SWOT analysis? Use the strength as a retention strategy Use the strength to gain new distribution Use the strength as a price reduction strategy Use the strength to increase product demand - ✔✔-Use the strength as a retention strategy The owner of a sandwich shop is trying to increase business. There is a grocery store with a deli nearby. The sandwich shop owner decides to advertise by using flyers at area schools and businesses. Which type of competition does this illustrate? Pure Oligopolistic Indirect Monopolistic - ✔✔-Indirect A pharmaceutical firm has developed a new weight loss drug. The product is very different from other options offered by competitors. How will this environmental factor impact the marketing strategy? Celebrity endorsement will be needed Insurance companies will need to state coverage Competitive advantage needs to be exploited R&D costs need to be factored in pricing - ✔✔-Competitive advantage needs to be exploited An auto manufacturing company is preparing for the launch of a new car model that will target middleincome buyers with families. The company is concerned about economic factors since consumer interest rates have begun to increase. Which marketing action should the company take to address this situation? The company should offer additional features. The company should offer unsecured financing. The company should offer 0% financing. The company should offer manufacturer's rebates. - ✔✔-The company should offer 0% financing A new morning drive radio show is looking for a way to get attention in its market with a series of outrageous stunts. Which two social media platforms should the radio station use to generate viral content? Choose 2 answers A video sharing website to spread the station's content to users outside of its local listening area A blogging website to discuss the radio station's stunts An online social networking website to enable users to send and read messages about the radio station's stunts A bookmarking website to disperse images and other multimedia content - ✔✔-A video sharing website to spread the station's content to users outside of its local listening area An online social networking website to enable users to send and read messages about the radio station's stunts What gives users a place that provides virtual communities through which people can share information, post opinions, and increase relationships with customers? Blogging websites Bookmarking websites Media sharing websites Social networking websites - ✔✔-Social networking websites What allows marketers to communicate short messages to engage with stakeholders? Blogging websites Image sharing websites Microblogging websites Bookmarking websites - ✔✔-Microblogging websites A florist seeks to increase revenue from weddings. The owner has decided that paying an Internet search engine to optimize its placement in search results will bring more traffic to the florist's website. Which content aspect of social media marketing will help this strategy? Banner ads Targeted keywords Shareworthy texts and images Organizational and brand focus - ✔✔-Targeted keywords A medical device manufacturer is creating strategies to sell its complex product. The product needs to be demonstrated and exhibited for maximum effectiveness. Which aspect of social media will support this company's strategy? Banner ad placement Utilization of hashtags Search engine optimization Implementation of QR codes - ✔✔-Implementation of QR codes Which two important aspects does a social media marketing plan document in writing? Contingency plans Responsible parties Goals and strategies Budget and expected returns - ✔✔- What is the purpose of competitive analysis in a social media marketing plan? To explain the who, what, when, where and how To identify and target consumer market segments To describe overall marketing and economic conditions To evaluate the platforms and tools other companies select - ✔✔-To evaluate the platforms and tools other companies select What will help a taxi company that wants to improve the process for customers arranging for rides? Mobile application Blogging website Media sharing website Social news website - ✔✔-Mobile applicatio [Show More]

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