STR 581 Final Exam Answers
Answers to ALL Five Final Exam options are included in this package for your University of Phoenix STR 581 class.
Latest Update: May 2015
Your professor will randomly be giving you one of the following five exams included in this package.
The following Final Exams with perfect score answers are included:
STR 581 Final Exam 1 – (100 questions with Score 100%)
STR 581 Final Exam 2 – (100 questions with Score 100%)
STR 581 Final Exam 3 – (100 questions with Score 100%)
STR 581 Final Exam 4 – (100 questions with Score 100%)
STR 581 Final Exam 5 – (100 questions with Score 100%)
Preview of exam questions (Examples Don’t Show Answers):
1) Total customer satisfaction is the general feeling of pleasure or disappointment that results from comparing perceived performance to expectations. To achieve total customer satisfaction, organizations need to_____________.
A. Lower prices
B. Spend more money
C. Lower expectations
D. Manage customer experiences
E. Develop marketing campaigns
2) A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.
A. vertical system
B. marketing information system
C. marketing intelligence system
D. product management system
E. marketing research system
3) 3M, Hewlett-Packard, Lego, and other companies use the ________ to manage the innovation process.
A. skunk works
B. joint- venture system
C. venture team
D. new product “team”
E. stage-gate system
4) ________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
A. A marketing database
B. A marketing research system
C. A promotional campaign
D. A marketing intelligence system
E. A marketing information system
5) A company can take several steps to improve the quality of its marketing intelligence. If the company purchases competitive products for study, attends open houses and trade shows, and reads competitors’ published reports and stockholder information, the company is using ________ to improve the quality of its marketing intelligence.
A. customer feedback systems
C. advisory panels
D. external networks
E. sales force surrogates
6) Most established companies focus on ________ when it comes to innovation.
A. competitive innovation
B. continuous innovation
C. demand innovation
D. everyday innovation
E. incremental innovation
7) The value proposition consists of a cluster of benefits the company promises to deliver; it is
A. business processes
B. customer experience with the company
C. customer expectations
D. total customer satisfaction
E. Customer loyalty to the company
8. Particularly when shopping for ego-sensitive products such as perfumes and expensive cars, many consumers use price as an indicator of ________.
9) ________ is the result of a concentrated effort by designers, engineers, and purchasing agents to reduce the product’s overall costs.
A. Learning curve
B. Experience curve
C. Target costing
D. Least cost producer
10) A firm has to consider many factors in setting its pricing policy. We list these as a six-step process. Which of the following is NOT one of these steps?
A. Determining demand.
B. Selecting a pricing method.
C. Selecting the pricing objective.
D. Researching reference prices in the target market.
E. Selecting the final price.