BUSN 319 Quiz Week 2

$8.50

BUSN 319 Quiz Week 2 
(TCO 1) The marketing department helps keep the organization focused on creating value…

SKU: BUSN 319 Quiz Week 2  Categories: , Tags: , , ,

Description

BUSN 319 Quiz Week 2

BUSN 319 Quiz Week 2

A+

(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 ideas

Discover students’ studying needs

Ask 3M to support him while he pursued his new ideas

(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 one

Yes, because the university is profitable

Yes, because paying tuition was exchanged for knowledge that directly led to Cali’s fulfilling new job

(TCO 1) The first objective in marketing is to (Points : 3)

Discover the needs of prospective consumers

Discover the needs of competitors

Discover the needs of sellers

Satisfy the needs of regulators

Satisfy the desires of various segments

(TCO 6) Which of the following would be the best target market for tickets to the home games of the Indianapolis Colts professional football team? (Points : 3)

All people in the Indianapolis area

All people in the United States

All men in the United States

People in the Indianapolis are with an interest in professional football

All people in the United States with an interest in professional football

(TCO 6) The four Ps are commonly known as (Points : 3)

The environmental or uncontrollable factors

The environmental or controllable factors

The marketing mix or controllable factors

The marketing mix or uncontrollable factors

Product, price, promotion, and process

(TCO 1) Profit is (Points : 3)

The point at which company assets equal company liabilities

The money left over after a business firm’s total expenses are subtracted from its total revenues

The goodwill earned from implementing the societal marketing concept

The money earned when the economic order quantity is maintained

Accurately described by all of the above

(TCO 1) The corporate level is where the head of marketing (Points : 3)

Decides recruitment strategy and tactics

Directs all employees’ training and orientation

Sees that marketing strategy is implemented to achieve critical marketing goals

Develops overall sales projections

All of the above

(TCO 1) The marketing department helps keep the organization focused on creating value both for it and for customers. This is accomplished by (Points : 3)

Listening to customers

Developing offerings

Producing offerings

Implementing marketing program activities

All of the above

(TCO 1) The _____ for American Red Cross is The American Red Cross, a humanitarian organization led by volunteers and guided by its Congressional Charter and the Fundamental Principles of the International Red Cross Movement. It will provide relief to victims of disasters and help people prevent, prepare for, and respond to emergencies. (Points : 3)

Benefit statement

Business portfolio

Functional philosophy

Mission

Corporate code

(TCO 1) Market share is (Points : 3)

The ratio of the profit of the firm to the total profits of all firms in the industry, not including the firm itself

The ratio of the profit of the firm to the total profits of all firms in the industry, including the firm itself

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, not including the firm itself

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself

The ratio of the profits of all firms in an industry to the profits of the firm

(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

The marketing program

Obtaining resources

BUSN Quiz Week 2

(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 strategy

Repositioning its product in the minds of motorcycle buyers

Performing a SWOT analysis

Seeking new markets for motorcycles both in the United States and in foreign markets

Improving the quality of its product and communicating this to motorcycle buyers

(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

(TCO 5) Which of the following statements about environmental scanning is true? (Points : 3)

Environmental scanning changes the marketing environment

Environmental scanning identifies and interprets potential trends

Environmental scanning is an annual event

Environmental scanning focuses primarily on geographical factors

All of the above

(TCO 5) The social forces of the environment include the demographic characteristics of the population and its _____. Changes in these forces can have a dramatic impact on marketing strategy. (Points : 3)

Living standards

Social class

Values

Dialect

Culture

(TCO 5) The age segment in America expected to double in size by 2030 is composed of (Points : 3)

Infants

People aged 65 and over

Children of baby boomers

Teens

People in their early 30s

(TCO 6) Which are the two most important values for all age groups in the United States? (Points : 3)

Health and fitness

Patriotism and loyalty

Protecting the family and honesty

Self-esteem and health

Friendship and fitness

(TCO 5) In an inflationary economy, the cost to produce and buy products and services _____ as prices _____. (Points : 3)

Escalates; increase

Escalates; decrease

Decreases; increase

Decreases; decrease

Does not change; increase

(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)

Regulations

Technology

Laws

Social change

Economics

(TCO 5) _____ is the form of competition in which just a few companies control the majority of industry sales. (Points : 3)

Pure competition

Cross-market competition

Oligopoly

Monopolistic competition

Monopoly

(TCO 6) Which of the following statements about the problem recognition stage of the purchase decision process is most true? (Points : 3)

The decision maker perceives a difference between the actual and ideal situations, but it’s not big enough to trigger a decision

Advertisements can activate a consumer’s decision process by showing shortcomings of competing products

Advertisements can only activate a consumer’s decision process by showing shortcomings of currently owned products

The consumer pays attention to advertising suggesting criteria to use for the purchase

(TCO 6) Sophisticated firms have learned the marketing lesson that (Points : 3)

It is a lot easier to find new customers than to keep existing ones

The buying experience, customer satisfaction, and retention can increase firm profits

It is not clear whether it is easier to find new customers or to keep existing ones

Existing customers do not usually spend as much as new customers

Their focus should be on the four Ps and not the customer

(TCO 6) _____ buy raw materials and parts that they reprocess into the finished goods they sell. (Points : 3)

Retailers

Wholesalers

Manufacturers’ agents

Manufacturers

Ultimate consumers

(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 above

(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 buyer

Personal friendship with sales representative

Ability to meet required delivery schedules

Current mood of the buyer

Opinion of the firm’s senior management

BUSN Quiz Week 2

DeVry