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OTE 430 Exam with Questions and Answers, Exams of Marketing

OTE 430 Exam with Questions and Answers The __________ era is characterized by more customer involvement in strategic business decisions. a. marketing department b. global services c. sales d. production e. marketing company ANSWER✓✓ b. global services The supplier with whom General Motors does the most business is __________, which is a supplier of __________. a. LG Chem; battery cells b. Johnson Controls; interior components c. The Bridgestone Group; tires d. Blue Cross-Blue Shield; financial services e. Fuyao Group; safety glass ANSWER✓✓ d. Blue Cross-Blue Shield; financial services Which of the following is a product? a. An Allstate automobile insurance policy b. The 9:40 p.m. showing of Deadpool at Cinemark Fayette Mall c. The marketing degree program in the Gatton College of Business & Economics d. All of the above.

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The era is characterized by more customer involvement in strategic business decisions. a. marketing department b. global services c. sales d. production e. marketing company ANSWERV ¥ b. global services The supplier with whom General Motors does the most business is , Which is a supplier of a. LG Chem; battery cclls b. Johnson Controls; interior components c. The Bridgestone Group; tires d. Blue Cross-Blue Shield: financial services e. Fuyao Group; safety glass ANSWERV V d. Blue Cross-Blue Shield; financial services Which of the following is a product? a. An Allstate automobile insurance policy b. The 9:40 p.m. showing of Deadpool at Cinemark Fayette Mall c. The marketing degree program in the Gatton College of Business & Economics d. All of the above. e. None of the above. ANSWERV ¥ 4. All of the above. Which of the following is "tangible dominant"? a. A subscription to DireeTV b. An AT&T voice and data rate plan c. A Samsung Galaxy tablet PC d. Uptown Funk in the iTunes store e. Math 123 tutoring ANSWERV ¥ c. A Samsung Galaxy tablet PC With regard to the "scale of market entities," with which of the following would the authors of your text likely agree? a, Nobody markets anything that qualifics as "100% service." b. A tangible-good producer that neglects the intangible aspects of its product offering can be said to suffer from "service marketing myopia.” c. Nobody markets anything that qualifies as "100% tangible good." d. All of the above. e. None of the above. ANSWERY ¥ d. All of the above. If you were to draw a molecular model of the "Pirates of the Caribbean" ride at Disneyland or The Magic Kingdom, which of the following would be represented by a "broken" or "dotted" circle? a. The life-sized robotic pirates who engage in pillaging and other debauchery b. The water through which guests ride in passenger boats c. The song Yo Ho (A Pirate's Life for Me) that plays in the background d. The Aztec treasure chest in the treasure room d. eco-efficiency e. premium niche ANSWERY v c. eco-branding With regard to self-service technologies (SSTs), with which of the following statements would the authors of the textbook agree? a. When SSTs are developed and implemented properly, customers usually like them. b. SSTs that don't work well can become a major source of customer dissatisfaction. c. A successful SST offers customers some benefit, such as time savings or an opportunity to customize. d. All of the above. e. None of the above. ANSWERV ¥ d. All of the above. The U.S. Bureau of Labor Statistics reports that in 1996, percent of the nation's workforce was employed in the "service economy." By 2006, the service economy employed percent of the workforce, and by 2016 the percentage was expected to have increased to a. 45; 72; 91.4 b. 57; 78.4; 82.3 c. 61; 76; 81.6 d. 72; 76; 78.4 c. 76; 84; 89.9 ANSWERV V d. 72; 76; 78.4 In which service industry subsector was employment projected to decrease by the year 2016, according to the U.S. Bureau of Labor Statistics? a. Arts, entertainment, and recreation b. Publishing c. Insurance d. Truck transportation and warehousing e. Advertising and public relations ANSWERV ¥ b. Publishing The authors of your text state that tend to be well paid, compared to workers in most other service industries. a. utility workers b. research scientists c. trained automotive technicians d. All of the above. e. All of the above except a. ANSWERV ¥ d. All of the above. The subsector of the U.S. service economy (1) produces, promotes, or participates in live performances, events, or exhibits intended for public viewing; (2) preserves and exhibits objects and sites of historical, cultural or educational interest; and (3) operates facilities that provide amusement, hobby, and leisure time interests. This subsector is part of the supersector. a. educational services; education and health serviecs b. advertising and public relations services; professional and business services ¢. motion picture and video industries; information d. arts, entertainment, and recreation; leisure and hospitality ¢, advocacy, grantmaking, and civic organizations; government ANS WER¥ ¥ d. arts, entertainment, and recreation; leisure and hospitality Regarding the leisure and hospitality supersector of the U.S. service economy, with which of the following statements would the authors of your text agree? a. During the 2006-2016 period, job opportunities in the hotels and other accommodations subsector were expected to decrease at a rate of 4 percent. According to the authors of the text, some companies "pursue a(n) ' ‘ that takes into account not only the firm's economic prosperity, but also includes goals and objectives pertaining to environmental issues and advancements, and social justice and equality movements as the firm conducts its daily operations." a. ephemeral competitive advantage b. focused differentiation strategy ¢. service imperative d. triple bottom line e. LEED certification ANSWERV V 4d. triple bottom line Sometimes it is easy for service providers to get away with unethical behavior. The authors of your text list and explain several characteristics of services that can sometimes make it so. Which of the following is onc of these? a. Employee reward systems sometimes encourage service workers to concentrate on making sales, which can lessen their attention and dedication to providing service. b. Guarantees and warranties on services may be meaningless, nonexistent, or unenforceable. c. Due to the intangible nature of services, consumers are unable to physically examine them before purchasing them. d. All of the above. e. None of the above. ANSWERV ¥ d. All of the above. According to the authors of your textbook, why should service organizations stress the importance of ethical conduct by employees? a. Because ethical misconduct by employees will probably lead to negative publicity for the company. b. Because employees who continually have to deal with ethical issues are likely to suffer anxiety, job stress, and frustration. c. Because service organizations should be required to act in a manner that is in the best interest of society. d. Because of all of the above. e. Because of a and c only. ANSWERY ¥ d. Because of all of the above. With regard to service-dominant logic, with which of the following statements would the authors of your text likely agree? a. As recently as four decades ago, many people—including marketing "experts"—belicved that the marketing of services is not significantly different from the marketing of tangible goods. b. Services are "performances" rather than "objects"—and that means that consumers’ judgments about them tend to be highly subjective. c. Many markcting "experts" now consider services marketing to be the dominant force in marketing. d. All of the above. e. None of the above. ANSWERV ¥ d. All of the above. With regard to the intangibility of services, which of the following statements is consistent with the statements of the authors of your textbook? a. Unlike tangible goods, services cannot be patented. b. Because of their intangibility, services cannot be stored in inventory. c. The intangibility of services makes it difficult to display them for customers to sce d. All of the above e. Band C only. ANSWERV ¥ d. All of the above Compared to manufacturers of tangible goods, services marketers usually have to conduct their operations in the presence of the customer. This results in many more potential If a service provider customizes its services for each customer, which of the following is a likely outcome? a. The service provider will probably achieve high levels of customer satisfaction. b. The service provider can probably charge higher prices, thereby carning higher profits. c. The service provider will probably lose customers who want or need specdy serviec. d. All of the above. e. A and C only. ANSWERV ¥ d. All of the above. Jolie Foley, LMT (licensed massage therapist) cannot provide service for a client without being physically present at the same place and at the same time as the client. That is to say, the client has to be present to "consume" the massage in "real time," while Jolie is "producing" it. The authors refer to this mandatory interconnection between service provider and consumer as the of most services. a. intangibility b. heterogeneity ¢. inseparability d. perishability e. plausibility ANSWERY V c. inseparability Virtual Bellhop is a company that ships awkward sporting goods to vacation destinations so its customers do not have to worry about lugging them through airports or having them damaged in transit. During the summer months and December, the company is extremely busy packaging and shipping sporting gear. During other months that are not popular vacation months, it may only have one customer a day. This inconsistency of demand means Virtual Bellhop has to deal with the problems associated with the service characteristic of a. intangibility. b. truculence. ¢. perishability. d. heterogeneity. ¢. inseparability. ANS WERV V c. perishability. "Utilize tangible clues," "utilize personal sources of information," and "create a strong organizational image." These are strategies that can be used to deal with the of services. a. intangibility b. fenestration ¢. perishability d. heterogeneity ¢. inseparability ANS WER¥V V a. intangibility "Utilize creative pricing strategies to shift demand," "implement a reservation system," and “utilize nonpeak demand periods to prepare for peak periods of demand." These are strategies that can be used to deal with the of services. a. intangibility b. perishability c. heterogeneity d. inseparability e. refulgence ANSWERV ¥ b. perishability In the model of the consumer decision process that the authors present, the prepurchase stage begins with a(n) . Which may be a(n) , a(n) , or a(n) a. information search; internal search; external search; compound search b. consumers looking inside magazines, books, consumer guides, and marketer-provided brochures in an effort to gather information about the best brand to purchase. ¢. consumers trying to "get inside" the minds of friends and family members to get a feel for their opinions as to the best brand to purchase. d. consumers clicking "several pages deep" into a marketer's website as they research a potential brand to purchase, rather than merely browsing the homepage. e. consumers "taking mental inventory" of past experiences and learning that are relevant to the purchase that they're now considering. ANSWERVY V e. consumers "taking mental inventory" of past experiences and learning that are relevant to the purchase that they're now considering. Josh Bosch and his fiancée, Chelsea Kelsey, are shopping for a new car. They have discussed their choice criteria, and have agreed to be guided by the following: --The car needs to be a four-door sedan that will comfortably seat four medium-sized adults --The EPA-rated fuel efficiency rating for the car needs to be at least 25 m.p.g. city and 33 m.p.g. highway --The car has to have an automatic transmission --The car has to have power windows and door locks and keyless remote entry --The color of the car has to be UK Wildcat blue After discussing what they know about the available options and doing additional online research, Josh and Chelsea des that the 2017 Ford Fusion, the 2017 Toyota Camry, the 2017 Mazda 6, the 2017 Hyundai Sonata, the 2017 Honda Accord, and the 2017 Chevy Malibu are all worth considering. They plan to visit dealerships and get better acquainted with cach model before making their deci ANSWERY V d. lexicographic Prof A is getting ready to make a hotel reservation in Charleston, West Virginia for next Monday evening. At one time or another he has stayed in 30 hotels and motels in the Charleston area. Of those 30, the ones that enter his consciousness as he begins to make his decision are the Hampton Inn in downtown Charleston, the Wingate in South Charleston, the Sleep Inn in Mink Shoals, the Marriott Town Center, the Hampton Inn and the Holiday Inn Express at Southridge, the Sleep Inn in Cross Lanes, the Embassy Suites in downtown Charleston, the Hampton Inn in Hurricane, and the Ramada Inn Charleston House. He immediately rules out the Marriott and the Embassy Suites because they charge more than he wants to spend. He next rules out the Ramada Inn Charleston House because at that location, he may have to park a long way from his room, which makes it impossible to leave as quickly as he'd like in the morning. Then, he rules ANS WERV ¥ e. both b and c. When Amanda Miranda is getting her annual eye examination, she feels a type of nervousness that is a lot like "stage fright." As the optometrist is flipping lenses in the ophthalmoscope and asking Amanda, "Which one looks clearer, 'one' or 'two"?" Amanda is afraid that she'll give a wrong response and end up with the wrong contact lens prescription, which would then require repeat visils and additional cxaminations to get it right. The authors of your textbook would say that Amanda's lack of confidence in her ability to give the "right" answers goes hand in hand with —which is inevitable because of the concept of a. financial risk; intangibility b. performance risk; heterogeneity c. co-producer risk; inseparability d. physical risk; perishability ¢. social risk; emotional cost ANS WERV ¥ ce. co-producer risk; inseparability ¢. experience attribute. d. credence attribute. ¢. salient attribute. ANSWERV ¥ e. experience attribute. Services sometimes have important characteristics that customers cannot evaluate—even after purchase and consumption—because they do not have the knowledge or experience to judge those characteristics accurately. The authors of your textbook refer to such characteristics as a. search attributes. b. tandem attributes. ¢. experience attributes. d. credence attributes. e. salient qualities. ANSWERV ¥ d. credence attributes. The authors of your textbook outline a series of "stages of operational competitiveness" through which successful service organizations evolve. With regard to this series of steps, which of the following statements is consistent with information in the textbook? a. Within the journeyman stage, management views technology not only as a way of reducing costs, but also as a way of enhancing service. b. In the world-class service delivery stage, employees are given procedures to follow, and management focuses on making sure those procedures are followed. c. Within the distinctive competence achieved stage, front-line workers stop haying to treat all customers in a uniform manner, and are allowed to select from alternative procedures. d. In the available for service stage, the workforce is usually a prime source of innovation. e. Ina chapter endnote, Lovelock (1983) receives credit for originally developing this concep ANSWERV Vv c. Within the distinctive competence achieved stage, front-line workers stop having to treat all customers in a uniform manner, and are allowed to select from alternative procedures. With regard to "balancing marketing and operations in a service firm," with which of the following statements would the authors of your text likely agree’? a. Because of the heterogeneous demands of consumers, operations managers will sometimes have to be satisfied with a little less efficiency than is ideal. b. Before announcing the availability of new services, marketing managers need to understand how operations will be affected by demand for those services. c. Operational efficiency and marketing effectiveness tend to be incompatible goals. d. All of the above e. None of the above ANSWERV ¥ d. All of the above The authors of your textbook make reference to J. D. Thompson (1920-1973), who was a. a sociologist who wrote Organizations in Action: Social Science Bases of Administrative Theory. b. a marketing research executive who invented the well-known J. D. Thompson customer satisfaction survey for the automotive industry. ¢. the inventor of the Thompson submachine gun. d. the Georgetown University men's basketball coach whose team won the Hoyas' only NCAA Championship to date. e. an American writer who is best known for the novel Catcher in the Rye. ANSWERV 4 a. a sociologist who wrote Organizations in Action: Social Science Bases of Administrative Theory. Which of the following service organizations operates in an environment that allows it to achieve "perfect efficiency," as described by J. D. Thompson's perfect-world model? a. State Farm Insurance b. Harrah's Casinos and Resorts c. FedEx Corporation c. clicit scripts from both employees and consumers. ANSWERV ¥ e. elicit seripts from both employees and consumers. The third step in constructing a service blueprint is to a. sketch the blueprint of the process the way managers see it. b. see if your most-similar competitors’ blueprint is available on the Internet or in a library database. c. identify steps in the process where things can go wrong. d. elicit scripts from both employees and consumers. e. specify the timeframe of service execution. ANSWERV V e. specify the timeframe of service execution. When a consumer's script for a particular service experience does not match the script of the service firm's employees, the scripts are said to be a. convergent. b. divergent. ¢. normed. d. unbundled. e. congruent. ANSWERV ¥ b. divergent. For a company that produces tangible goods, a niche strategy involves developing a product for a "narrowly defined" target market. For a service marketer, a niche strategy a. reduces costs by providing a "one-size-fits-all" service. b. tries to capture a larger market by adding a broader range of services. c. reduces complexity by unbundling the services offered. d. tries to capture a larger market by enhancing customer service. c. tailors the service experience to each individual customer. ANSWERY ¥ ce. tailors the service experience to each individual customer. The Seven Categories of Marketing Activities, in their proper sequence, are market delineation, purchase motivation, product adjustment, distribution, communication, the purchase transaction, and a. post transaction b. supply chain management c. product positioning d. market segmentation ¢. customer relationship management (CRM) ANSWERV ¥ a. post transaction A marketer who is currently working on Post Transaction tasks is trying to answer the question or is making decisions based on the answer to that question. a. "Why?" b. "If 1 through 6 have gone right, how do we maximize customer loyalty?" c. "Who?" d. "If we've done | through 5 correctly, how do we maximize the likelihood of purchase?" e. "How do we let them know?” ANSWERV ¥ b. "If 1 through 6 have gone right, how do we maximize customer loyalty?" A marketer who is currently working on Market Delineation tasks is trying to answer the question or is making decisions based on the answer to that question. a. "If we've done | through 5 correctly, how do we maximize the likelihood of purchase?" b. "What?" iG. "Why?" d. "Where?/How does it get there?"