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week 2 multiple choice work




Question;1.(TCO 1) 3M inventor David Windorski's challenge was to design new products for college students. The first step in solving this challenge was to(Points: 3) satisfy students? studying needs.advertise the new products he had invented.use word of mouth to tell college students about his students? studying needs.ask 3M to support him while he pursued his new ideas.Question 2. 2.(TCO 1) The Daniels College of Business at the University of Denver offers an outstanding business school education. Cali pays the tuition to attend Daniels and earns her MBA with a concentration in supply chain management.Upon graduating, she is offered a high-paying, fulfilling position. Was this a marketing exchange? (Points: 3)No, because the university is a private oneYes, because the university is profitableYes, because paying tuition was exchanged for knowledge that directly led to Cali?s fulfilling new jobNo, because money was exchangedNo, because the school did not provide Cali with a productQuestion 3. 3.(TCO 1) The first objective in marketing is to (Points: 3)discover the needs of prospective the needs of the needs of sellers.satisfy the needs of regulators.satisfy the desires of various segments.Question 4. 4.(TCO 6) Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese. Some versions contain Capri Sun drinks. Others are called Cracker Stackers and Fun Fuel. The box is bright yellow and the quantity of food contained within is small. The target market for Kraft Lunchables is most likely (Points: 3)moms of school-age people looking for a quick travelers.teenagers.seniors.Question 5. 5.(TCO 6) Which of the following would a marketer use as a synonym for controllable marketing mix factors? (Points: 3)The five external environmental forcesMacromarketing forcesThe five CsThe four PsPrice, product, production, and promotionQuestion 6. 6.(TCO 1) _____ is the money left over after a business firm's total expenses are subtracted from its total revenues. (Points: 3)Shareholders' equityProfitInventory turnoverContribution marginAsset leverageQuestion 7. 7.(TCO 1) Which of the following statements about strategy is most true? (Points: 3)By following the best strategy, an organization can be all things to all people.Once an organization is focused and has developed goals, it can then develop its strategies.Strategic direction must be explicit in order to be set by organizations.Strategy is an organization?s long-term course of action designed to deliver a unique customer experience while achieving its goals.All of the aboveQuestion 8. 8.(TCO 1) A key role of the marketing department is to (Points: 3)allocate financial resources across business units.set the overall mission of the company.provide talent management services.look outward.assess global political situations.Question 9. 9.(TCO 1) Often used interchangeably with vision, a(n) _____ statement frequently has an inspirational theme. (Points: 3)point of differencemissionbusiness mapinternal situation analysisCEO?s annualQuestion 10. 10.(TCO 1) Market share is the ratio of sales revenue of the firm to the total sales revenue of all _____, including the firm itself. (Points: 3)firms in the industryfirms in alternative industriesfirms surveyed by the U.S. governmentfirms sharing in marketing principlesdomestic firms Question 11. 11.(TCO 1) Step 2 in the planning phase of the strategic marketing process is (Points: 3)the situation analysis.the market-product focus and goal setting.the marketing program.implementation.obtaining resources.Question 12. 12.(TCO 1) In the 1980s, poor quality and Japanese imports drove the Harley-Davidson motorcycle company to the brink of bankruptcy. The company's share of the U.S. super-heavy-weight market motorcycles with engine capacity of 850 cubic centimeters or more collapsed from more than 40% in the mid-1970s to 23% in 1983. However, by 1989, Harley-Davidson controlled some 65% of the U.S. market, and both in the United States and overseas markets, the company won't be able to meet demand for years. From a marketing perspective, what was most likely the first step in Harley-Davidson's resurgence?(Points: 3)Development of a new mission statement and subsequent marketing strategyRepositioning its product in the minds of motorcycle buyersPerforming a SWOT analysisSeeking new markets for motorcycles both in the United States and in foreign marketsImproving the quality of its product and communicating this to motorcycle buyersQuestion 13. 13.(TCO 1) To provide quick access to topics, a well-organized marketing plan should begin with (Points: 3)an executive summary.the strategic focus.a table of contents.a situation analysis.the market-product focus.Question 14. 14.(TCO 5) The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called (Points: 3)environmental trending.organizational scanning.environmental scanning.a SWOT analysis.acquisition scanning.Question 15. 15.(TCO 5) The social forces of the environment include the _____ of the population and its values. Changes in these forces can have a dramatic impact on marketing strategy. (Points: 3)living standardssocial classdemographic characteristicsdialectlawsQuestion 16. 16.(TCO 5) Generally, the U.S. population is becoming (Points: 3)smaller, younger, and more diverse.smaller, older, and more diverse.larger, older, and less diverse.larger, younger, and more diverse.larger, older, and more diverse.Question 17. 17.(TCO 6) The concern for obtaining the best quality, features, and performance of a product or service for a given price is called (Points: 3)changing values.multidimensional consumption.buyer excellence.purchasing excellence.value consciousness.Question 18. 18.(TCO 5) _____ is a time of slow economic activity when businesses decrease production, unemployment rises, and many consumers have less money to spend. (Points: 3)A panicInflationAn escalationA recessionA depressionQuestion 19. 19.(TCO 5) Very recently, ink has been developed that will conduct electricity. The application for this ink is to print circuitry that can be read electronically. This may help to drive down the cost of identification tags, called RFID tags, that are currently used in industry. This is an example of how _____ is applied to industry. (Points: 3)regulationstechnologylawssocial changeeconomicsQuestion 20. 20.(TCO 5) _____ is the form of competition in which just a few companies control the majority of industry sales. (Points: 3)Pure competitionCross-market competitionOligopolyMonopolistic competitionMonopolyQuestion 21. 21.(TCO 6) In which stage in the consumer purchase decision process would a consumer ask, "Is installation included in the price of this HDTV?" (Points: 3)Problem recognitionInformation searchAlternative evaluationPurchase decisionEvaluationQuestion 22. 22.(TCO 6) Customer satisfaction is an important focus for marketers because (Points: 3)marketing research is an inexpensive process.the financial value of a retained customer can be significant.customer value is a nonquantifiable statistic.attracting new customers is easier than keeping old ones.a market development strategy is preferable to a market penetration strategy.Question 23. 23.(TCO 6) _____ buy raw materials and parts that they reprocess into the finished goods they sell. (Points: 3)RetailersWholesalersManufacturers? agentsManufacturersUltimate consumersQuestion 24. 24.(TCO 6) Which of the following is characteristic of the organizational buying process? (Points: 3)Multiple parties participate in purchase decisions.Negotiation between buyers and sellers is commonplace.Online buying over the Internet is widespread.Buying objectives and criteria are typically spelled out.All of the aboveQuestion 25. 25.(TCO 6) Seven of the most commonly used organizational buying criteria are (1) price, (2) ability to meet the quality specifications required for the item, (3) _____, (4) technical capability, (5) warranties and claim policies in the event of poor performance, (6) past performance on previous contracts, and (7) production facilities and capacity. (Points: 3)taste of the buyerpersonal friendship with sales representativeability to meet required delivery schedulescurrent mood of the buyeropinion of the firm's senior management


Paper#47087 | Written in 18-Jul-2015

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