1. What
data analysis type is being used here? When Sam thought about opening a foreign
car repair shop in Phoenix, he researched all of the firms in the area before
deciding on a location. He also analyzed their capabilities and found articles
about many of them in terms of their capabilities, strengths, and weaknesses.
·
Secondary data
·
Primary data
·
Licensed information
·
Tertiary information
2. Marketing
is considered both an art and a science. How do the 4Ps, or marketing mix, help
us bridge the gap between art and science?
·
Marketing focuses on sales as the primary
goal.
·
Marketing balances the need for data with
that of creativity.
·
Marketing is about advertising.
·
Marketing is involved with price as the major
factor.
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3. Which
of the following statements demonstrates behavioral loyalty towards a brand?
·
My friends agree Myfavorite Laundry detergent
is the best.
·
Myfavorite Laundry detergent is so easy to
use.
·
Myfavorite Laundry detergent smells good.
·
I always buy Myfavorite Laundry detergent
when purchasing laundry detergent.
4. By
2015, projections indicate that the largest category of households will be
composed of
·
childless married couples and empty nesters
·
married couples with children
·
single-parent families
·
singles living with nonrelatives
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5. One
of the most critical steps in the defining process of market research is
·
reading marketing research journals
·
defining the problem, the decision
alternatives, and research objectives
·
analyzing the internal environment
·
developing a research plan
6. Which
of the following is correct about marketing management?
·
It is primarily concerned with the systematic
gathering, recording, and analysis of data about issues related to marketing
products and services.
·
It focuses mostly on monitoring the
profitability of a company's products and services.
·
It is defined as the field that deals with
planning and managing a business at the highest level of corporate
organization.
·
It occurs when at least one party to a
potential exchange thinks about the means of achieving desired responses from
other parties.
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7. In
the U.S., consumer expenditures on homes and other large purchases tend to slow
down during a recession because
·
of stringent credit policies adopted by the
Fed before the onset of recession
·
the consumers have a high debt-to-income
ratio
·
of steady supply of loanable funds in the
economy during recession
·
consumer borrowing increases during recession
8. Which
of the following elements of sociocultural environment can be associated with
the growing demand for social surrogates like social networking sites,
television, and so on?
·
Views of ourselves
·
Views of nature
·
Views of others
·
Views of organizations
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9. Wabash
Bank would like to understand if there is a relationship between the
advertising or promotion it does and the number of new customers the bank gets
each quarter. What type of research is this an example of?
·
Causal
·
Exploratory
·
Secondary
·
Qualitative
10. Which
strategy does this exemplify? Kayak and Orbitz provide their customers with a
variety of travel options including flight reservations, vacation packages,
flight and hotel options with or without car rentals, and cruise offerings.
·
Focus
·
Diversification
·
Differentiation
·
Promotional
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MKT 571 Week 1 Quiz
11. Which
of the following industries is most likely to use database marketing?
·
A supermarket chain
·
A local restaurant
·
A physician’s office
·
A school system
12. Which
market do customers who have purchased and are driving Audi automobiles represent?
·
Potential market
·
Available market
·
Target market
·
Penetrated market
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13. When
Apple introduced iTunes, a new market was opened. Which of the following
describes this type of innovation?
·
Presence
·
Operational excellence
·
Value chain
·
Value capture
14. The
Soccer World Cup is promoted aggressively to both companies and fans. This is
an example of marketing a(n)
·
service
·
event
·
place
·
idea
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15. How
does the market demand curve change (as a function of marketing expenditure)
during recession?
·
Shifts upward
·
Becomes vertical
·
Remains unaffected
·
Shifts downward
16. A
company's sales potential would be equal to market potential when which
situations exists?
·
The marketing expenditure of the company is
reduced to zero.
·
The company gets 100 percent share of the
market.
·
Industry marketing expenditures approach
infinity for a given marketing environment.
·
The market is nonexpandable.
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17. During
the holidays, companies often provide gifts to customers. The more a client
spends, the larger the gift, usually. To segment customers in this way, for
what purpose is this data being mined?
·
To deepen customer loyalty
·
To beat the competition to a sale
·
To avoid serious customer mistakes
·
To decide which customers should receive a
new sales offer
18. Costco
is able to keep its inventory expenditure relatively low through its management
technology and cutting-edge point-of-sale inventory management technology. As a
result, Costco is able to pass these savings on to consumers in the form of low
prices. This strategy is best described as
·
market development
·
integrative growth
·
overall cost leadership
·
differentiation
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