Quiz Review 4' Business - Marketing

The best way to avoid the trap of researching the wrong problem is to

A research project refers to numerous related studies that come together to address issues about a single company

Which of the following is an example of information processing?

From the following list of six marketing questions, choose those related to the Environmental & SWOT Analysis element of the marketing plan:

5

Which three primary consumer motivations are key to the VALS2 system?

6

In the mass communication process, an actual HP printer/fax machine advertisement in a magazine is called ________

7

Ansh is a supply chain management specialist with Toyota. He is currently reviewing supplier contracts and is interested in reducing the environmental impact within the supply chain. He is hoping that by sourcing materials closer to manufacturing facilities and reducing air shipments, Toyota's supply chain can be more efficient, cost-effective, and environmentally sound. This is an example of _______.

8

18 - 24-year-olds take nearly ___________ as long to detect and report fraud, remaining victims longer, due to not monitoring accounts frequently.

9

Personal interviews could generate relatively high response rate

10

The Mayo Clinic in Minnesota is known for top-quality medical care. For decades, even presidents and dictators from around the world flew to the Mayo Clinic to utilize its services. The Mayo Clinic used its reputation to create additional medical facilities in Jacksonville, Florida, and elsewhere. This is an example of a firm focusing its efforts on satisfying customer needs that

11

What is the easiest method to evaluate the performance of salespeople?

12

Name and describe the two general categories of on-premise signage, and list the functions of on-premise signs

13

The 5Cs, STP, and 4Ps diagram is used at the beginning of every chapter so that students can see a framework depicting how all the marketing pieces come together to form the whole picture

14

Whirlpool conducts usability studies that provide insight into the ways consumers interact with its products

15

Explain where Sun Microsystems falls on the spectrum of branding alternatives and discuss what their strategy involves

16

ideal points

17

A retailer can shift labeling and handling functions to a manufacturer through the use of ________

18

Answer the following statements true (T) or false (F)

19

If a retailer buys a product for $30 and sells it for $50, what is the markup percentage, if the markup is based on cost?

20

Retailers are able to charge slotting allowances and get away with it because ____

21

A retailer of sporting goods equipment is interested in learning what peoples' attitudes, motivations, and feelings are about its product lines. All of the following are potential sources for this information EXCEPT:

22

Relationship commitment involves a partner's belief that an ongoing relationship is so important that it deserves maximum efforts to maintain it

23

Clarke is willing to sell is Star Wars Lego collection to his friend Patrick. However, he wants to charge a price that is much higher than Patrick is willing to pay. This is an example of the

24

This KPI comes in a variety of ways - it basically highlights the proportion of the visitors who start down a predefined conversion funnel (a series of pages leading to a target action, or conversion) but quit out before committing to the desired action. This KPI is

25

Which of the following does NOT contribute to total inventory cost?

26

The goal of most public relations efforts is to influence people to take a desired action regardless of whether they are "systematic" or "heuristic" thinkers

27

While any given advertisement for a product may focus on only one or a few purchasing motives, the

in Business

A. advertising campaign should focus more on manifest motives since they always have a stronger influence on purchase decisions.
B. overall campaign should attempt to position the product in the schematic memory to correspond with the target market's purchase motives.
C. advertising campaign needs to cover all the important purchase motives of the target market.
D. advertising campaign should focus more on manifest motives since they always have a stronger influence on purchase decisions and overall campaign should attempt to position the product in the schematic memory to correspond with the target market’s purchase motives.
E. overall campaign should attempt to position the product in the schematic memory to correspond with the target market’s purchase motives and advertising campaign needs to cover all the important purchase motives of the target market.

28

Which of the following is an example of affinity marketing?

29

The simplest example of Web 2.0 is when consumers log on to the Internet and visit sites they choose to visit for either information or shopping

30

When a company identifies or creates market segments that want different benefits from a product and target them with different brands, using different marketing strategies, the company is pursuing a(n):

31

To determine the optimal levels of attributes for a product, researchers should use multidimensional scaling

32

Although policies are usually documented in writing, unwritten or informal policies can also exist

33

It is most accurate to say that customers buy from stores and firms that offer which of the following?

34

Which of the following statements about advertising agencies is true?

35

Differentiate between the four levels of competition and offer examples of each type.

The four levels of competition are monopoly, oligopolistic competition, monopolistic competition, and pure competition (examples will vary).
In a monopoly, one firm provides the product or service in a particular industry, which results in less price competition. Power and other utility companies would be examples of monopolies.
In oligopolistic competition, only a few firms dominate the market. Firms typically change their prices in reaction to competition to avoid upsetting an otherwise stable competitive environment. Examples of oligopolistic markets include the soft drink market and commercial airline travel.
Monopolistic competition occurs when there are many firms competing for customers in a given market but their products are differentiated. There are many examples of this type of competition. The text lists sunglasses as one such example.
In a purely competitive environment, a large number of sellers offer standardized products or commodities that consumers perceive as substitutable. Examples include commodities such as grains, gold, meat, spices, or minerals.

36

Emic instruments are culture free and extremely difficult to develop

37

Which statement about hypotheses is not true?

38

Which of the following are not products that businesses typically purchase?

39

The formation and enlargement of the European Union have wide everlasting impact on marketing strategies and marketing mix. Discuss this giving example from member nations

The European Union has concluded over 20 different trade pacts with other nations. The business environment in Europe has undergone considerable transformation with significant implications for all elements of the marketing mix. For example, there is harmonization of product standards, thereby reducing the number of adaptations needed in each country. Similarly, from a pricing point of view the environment has become more competitive. Common guidelines are also set for promotion and distribution. Thus, all components of the marketing mix are getting standardized and harmonized. Corporations are beginning to treat the entire region as one entity with very little adaptation. For example, France will be able to shop around for distributions of products or services and select the best one in any member country. This selection can be based on cost, quality, or local preferences. Food safety laws can also be made uniform with some modifications that can be adapted. The members in the European Union will find it easier to do business at any of the member countries including setting up of manufacturing plants or headquarters. It will also help in balancing the inventory and moving products from one country to another in case of shortages.

40

Answer the following statements true (T) or false (F)

41

Which of the following is a reason why many salespeople join civic and professional organizations, country clubs, or fraternal organizations?

42

Nielson Media Research estimates national television audiences using ____________________

43

Services cannot be stored because of their _____

44

In ANOVA, a ____ allows a researcher to examine simultaneously the effects of two or more independent variables

45

In a marketing plan, product, price, place, and promotion are the components of the marketing

46

The 4Ps of the marketing mix are

47

As a field salesperson for a firm that builds custom software for large corporations, Fred relies heavily on consultative selling. His reasons include all of the following except:

48

Twitter is useful for communications between friends, but not for communications between businesses and customers

49

Imagine that an employee is fired for committing an illegal act. The employer accurately explains the cause for the firing in an e-mail message. The court agrees the content of the e-mail is true; yet, it rules that the employee was libeled

50

A leased department

51

The best description of Key Performance Indicators (KPIs) is:

52

Listening only for the facts is a good strategy when dealing with customer problems

53

________ are facing slow sales growth because of slower population growth, increased competition, and the rapid growth of out-of-home eating

54

Smaller segments can actually be more profitable than larger segments

55

The term magalog is used to describe which communication medium?

56

Which stage in a customer relationship management cycle is characterized by the sharing of customer information to all areas of a business after it has been analyzed and transformed into useful information?

57

Distractions and respondent fatigue are intentional respondent errors.

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Quiz Review 4' Business - Marketing

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