Liberty University BUSI 520 Quiz 1. Questions & Answers (Graded A)
Liberty University BUSI 520 Quiz 1. Questions & Answers
BUSI 520 Quiz 1.
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Liberty University BUSI 520 Quiz 1. Questions & Answers (Graded A)
Question 1
2 out of 2 points
Which of the new four Ps encompasses the old four Ps as well as a range of other marketing activities that might not fit well into the old view of marketing?
Selected Answer: programs
Question 2
2 out of 2 points
Marketers at Johnny Inc. believe in putting their customers ahead of everything else. Their products are carefully designed to meet customer requirements and the entire focus is on achieving customer satisfaction. Johnny Inc. follows the ________ concept in doing business.
Selected Answer: marketing
Question 3
2 out of 2 points
The ________ concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization's products.
Selected Answer: selling
Question 4
2 out of 2 points
Soccer's World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) ________.
Selected Answer: event
Question 5
2 out of 2 points
Chipotle engages customers through Facebook, Twitter, and other social media via its grassroots "Food with Integrity" digital strategy, which puts the focus on what it sells and where it comes from. These are examples of ________ media.
Selected Answer: owned
Question 6
2 out of 2 points
Webmax Inc. produced and marketed cameras. After considerable research and development, they developed a new digital camera that had an array of new features. Webmax was so sure about the new offering that they even reduced their marketing budget. What sort of orientation does Webmax have toward the marketplace?
Selected Answer: product orientation
Question 7
2 out of 2 points
Which of the following reflects the "people" component of the marketing mix?
Selected Answer: the internal marketing of the firm
Question 8
0 out of 2 points
The actual and potential rival offerings and substitutes that a buyer might consider are referred to as the ________.
Selected Answer: marketing environment
Question 9
2 out of 2 points
As economies advance, a growing proportion of the economy's activities focuses on the production of ________.
Selected Answer: services
Question 10
2 out of 2 points
The ultimate outcome of relationship marketing is a unique company asset called the ________, consisting of the company and its supporting stakeholders.
Selected Answer: marketing network
Question 11
2 out of 2 points
Angelo made the decision to outsource the software components of his consulting company so he could focus on the company's ________, which are sources of competitive advantage, make a contribution to perceived customer benefits, have application in a wide variety of markets, and are difficult to imitate.
Selected Answer: core competencies
Question 12
2 out of 2 points
Which of the following is an example of intensive growth?
Selected Answer: a company improving sales by integrating backward
Question 13
2 out of 2 points
Core competencies tend to refer to areas of special technical and production expertise, whereas ________ tend to describe excellence in broader business processes.
Selected Answer: distinctive capabilities
Question 14
2 out of 2 points
The most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficient competitive analysis, and a ________ focus.
Selected Answer: short-run
Question 15
2 out of 2 points
________ management allows the company to discover who its target markets are, how they behave, and what they need or want.
Selected Answer: Customer relationship
Question 16
2 out of 2 points
What is the second phase of the value creation and delivery sequence?
Selected Answer: providing the value
Question 17
2 out of 2 points
Which financial projections include three estimates (optimistic, pessimistic, and most likely)?
Selected Answer: risk analyses
Question 18
2 out of 2 points
Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.
Selected Answer: intensive growth
Question 19
2 out of 2 points
People vary in their views of society and their consumption patterns often reflect their social attitudes. ________ are a major market for movies, music, surfing, and camping.
Selected Answer: Escapers
Question 20
2 out of 2 points
Abby lives in a suburb of Atlanta with her three children. She is part of the biggest household change this decade, which was ________.
Selected Answer: the jump in households headed by women without husbands
Question 21
2 out of 2 points
Which of the following represents a raw-material-exporting economy?
Selected Answer: Democratic Republic of Congo
Question 22
2 out of 2 points
The ________ market is the set of consumers who are buying the company's product.
Selected Answer: penetrated
Question 23
2 out of 2 points
As the manager of an organization that is attempting to build a Marketing Information System (MIS), you have been informed that an MIS is built upon three fundamental information sources. The sources are ________, marketing intelligence activities, and marketing research.
Selected Answer: internal company records
Question 24
0 out of 2 points
When its monitoring software spotted a Twitter post that went to 10,000 followers from an upset consumer who couldn't redeem a prize from a MyCoke rewards program, Coke quickly posted an apology on his Twitter profile and offered to help resolve the situation. This is an example of which of the following?
Selected Answer: mystery shopper actions
Question 25
2 out of 2 points
The sales goal set for a product line, company division, or sales representative of an organization is called ________.
Selected Answer: sales quota
Question 26
2 out of 2 points
Which of the following organizations is likely to use the multiple-factor index method to estimate the market potential?
Selected Answer: a firm that manufactures fashionable clothes for teenagers
Question 27
2 out of 2 points
If a researcher asks a consumer why s/he wants to buy a Nokia cell phone, and learns, "They look well built" (attribute); then asks "Why is it important that the phone be well built?" and learns "It suggests Nokia is reliable" (a functional benefit); then asks "Why is reliability important?" and learns "Because my colleagues or family can be sure to reach me" (an emotional benefit), the researcher is using a technique called ________.
Selected Answer: laddering
Question 28
2 out of 2 points
When American Airlines asked how many first-class passengers would purchase in-flight Internet service at $25, they were conducting ________ research.
Selected Answer: descriptive
Question 29
2 out of 2 points
Primary data can be collected in several ways. Installing CCTV cameras in a retail store whereby consumers' actions can be recorded is an example of ________ research.
Selected Answer: observational
Question 30
2 out of 2 points
Unistar Inc., is an FMCG company that produces a wide range of offerings such as grocery items and personal care products. If Unistar wants to estimate the demand for its new line of body moisturizers, which are all priced at $18, it should opt for ________ research.
Selected Answer: descriptive
Question 31
2 out of 2 points
The goal of ethnographic research is to ________.
Selected Answer: immerse the researcher into consumers' lives to uncover unarticulated desires that might not surface in any other form of research
Question 32
2 out of 2 points
If the goal of marketing research is to identify a problem and to suggest possible solutions, the research is said to be ________.
Selected Answer: exploratory
Question 33
2 out of 2 points
________ is the information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.
Selected Answer: Marketing research
Question 34
2 out of 2 points
If a marketing researcher wishes to reach those people who would not give personal interviews or whose responses might be biased or distorted by interviewers, he or she should use ________.
Selected Answer: mail questionnaires
Question 35
2 out of 2 points
The 80-20 rule reflects the idea that ________.
Selected Answer: the top 20 percent of customers often generate 80 percent of the company's profits
Question 36
2 out of 2 points
The bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of a market offering is called the ________.
Selected Answer: total customer cost
Question 37
2 out of 2 points
Total customer satisfaction is measured based on the relationship of ________.
Selected Answer: perceived performance and expectation
Question 38
2 out of 2 points
Jack has shopped at VeggiesNmore. He was happy with the experience and thought that this could be an alternative to GreenFoods. However, he is also eager to try out other stores in the neighborhood. He is in the ________ stage of the marketing funnel as far as shopping at VeggiesNmore is concerned.
Selected Answer: recent user
Question 39
2 out of 2 points
________ can track customer satisfaction directly, measure repurchase intention and also gauge a consumer's willingness to recommend the company and brand to others.
Selected Answer: Periodic surveys
Question 40
2 out of 2 points
A customer touch point for Abacus Airlines would be an item such as ________.
Selected Answer: the reservations desk
Question 41
2 out of 2 points
Which of the following was NOT part of the British Airways "Know Me" program?
Selected Answer: infiltration of coach class by mystery shoppers
Question 42
2 out of 2 points
The aim of customer relationship management is to produce high customer ________.
Selected Answer: loyalty
Question 43
2 out of 2 points
________ are rules of thumb or mental shortcuts in the decision process.
Selected Answer: Heuristics
Question 44
2 out of 2 points
Even if consumers form brand evaluations, two general factors can intervene between the purchase intention and the purchase decision: one is unanticipated situational factors; what is the other factor?
Selected Answer: attitudes of others
Question 45
2 out of 2 points
________ assumed that the psychological forces shaping people's behavior are largely unconscious, and that a person cannot fully understand his or her own motivations.
Selected Answer: Sigmund Freud
Question 46
2 out of 2 points
Consumers often choose and use brands that have a brand personality consistent with how they think others view them, also known as the ________ self-concept.
Selected Answer: others'
Question 47
2 out of 2 points
________ is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants.
Selected Answer: Consumer behavior
Question 48
2 out of 2 points
Ford Motors uses the ad caption "Magnify the Adventure" to promote its latest SUV, the Ford Endeavour. The ad features the car traveling through an uneven, rocky terrain. Within the context of Jennifer Aaker's brand personality analysis, Ford Endeavour is most likely to be strong on which of the following traits?
Selected Answer: ruggedness
Question 49
2 out of 2 points
Marriage, childbirth, and divorce constitute the ________ that shape the consumption pattern of individuals.
Selected Answer: critical life events
Question 50
0 out of 2 points
________ refers to the process in which information gets out of memory.
Selected Answer: Memory encoding [Show Less]