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STRAYER MKT100 QUIZ 1

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Question;Question 1;The equation a buyer applies to assess a product's value is;value = monetary price ? customer benefits.;value = customer costs ? customer benefits.;value = customer benefits ? customer costs.;value = customer benefits ? monetary price.;value = customer benefits ? time and effort.;Question 2;In managing customer relationships, the three primary ways profits can be obtained are by;Answer;acquiring new customers, enhancing the profitability of new customers, and shortening the duration of relationships with existing customers.;enhancing the profitability of existing customers, eliminating customers who provide smaller profits, and finding new customers.;extending the length of relationships with customers, cutting organizational costs, and enhancing the profitability of new customers.;eliminating long-term customers who have decreased purchases, finding new customers, and increasing sales to existing customers.;enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers.;Question 3;Marketing activities are;Answer;used by all sizes of organizations including for-profit, nonprofit, and government agencies.;limited to use by larger for-profit and nonprofit organizations.;implemented only to increase profits for the organization and to expand the scope of its customer base.;used by all types and sizes of businesses but are not used by nonprofit organizations.;used by small businesses and small nonprofit organizations the most.;Question 4;refers to minimizing the resources an organization must spend to achieve a specific level of desired exchanges.;Answer;Effectiveness;Productivity;Efficiency;Objectivity;Cost cutting;Question 5;From the 1920s to the 1950s, demand for manufactured goods decreased, leading to the ____ orientation.;Answer;production;market;revolutionary;sales;reduction;Question 6;A physical product you can touch is a(n);Answer;service.;good.;idea.;concept.;philosophy.;Question 7;The three basic forms that a product can take are;Answer;markets, products, and images.;goods, ideas, and intangibles.;brands, services, and tangibles.;services, ideas, and goods.;ideas, services, and things.;Question 8;Marketing management is defined as a process of;Answer;maintaining an appropriate and efficient marketing mix for a target market.;establishing performance standards and evaluating actual performances against these standards.;providing products that satisfy customers' needs through a coordinated set of activities.;facilitating satisfying exchanges between an organization and its customers.;planning, organizing, implementing, and controlling marketing activities.;Question 9;The marketing concept is a philosophy that states that an organization should try to satisfy customers' needs and also;Answer;increase market share.;increase sales.;achieve the organization's goals.;produce high-quality products.;coordinate its activities to increase production.;Question 10;Issues of inventory levels and storage costs are both concerns relating to the ____ variable of the marketing mix.;Answer;distribution;product;exchange;price;promotion

 

Paper#46483 | Written in 18-Jul-2015

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