devry busn319 week 2 and week 4 quiz latest july 2015 all correct answer

| June 6, 2016

Question
week 2

(TCO 1) To serve both buyers and sellers, marketing seeks to _____ and satisfy the needs and wants of prospective customers.

change

create

manipulate

discover

weigh

Question 2. Question :

(TCO 1) An economics student would like to buy a mini-scooter but shace cannot afford one. Which of the following reasons explain why marketing fails to occur here?

There are not two or more parties with unsatisfied needs.

A desire to satisfy a need is missing.

No assessments of consumer wants and needs have been made.

There is no way for the parties involved to communicate.

The ability to satisfy a need is missing.

Question 3. Question :

(TCO 1) The first objective in marketing is to discover consumer

diversity.

ability to pay.

objectives.

needs.

synergy.

Question 4. Question :

(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

moms of school-age children.

business people looking for a quick snack.

business travelers.

teenagers.

seniors.

3 of 3

Comments:

Question 5. Question :

(TCO 6) Which of the following would a marketer use as a synonym for controllable marketing mix factors?

The five external environmental forces

Macromarketing forces

The five Cs

The four Ps

Price, product, production, and promotion

Question 6. Question :

(TCO 1) _____ is the money left over after a business firm’s total expenses are subtracted from its total revenues.

Shareholders’ equity

Profit

Inventory turnover

Contribution margin

Asset leverage

:

Question 7. Question :

(TCO 1) The corporate level in an organization is where

the department heads direct overall strategy for the entire organization.

groups of specialists actually create value for the organization.

a small number of people from different departments are mutually accountable to accomplish a task or a common set of performance goals.

a subsidiary, division, or unit of an organization markets a set of related offerings to a clearly defined group of customers.

top management directs overall strategy for the entire organization.

Question 8. Question :

(TCO 1) At the strategic business unit level, the marketing department provides leadership activities in

talent management.

fiscal restraint.

look outward, keeping the organization focused on creating value both for it and for customers.

creating the corporate culture.

sustaining the means-end chain.

Question 9. Question :

(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.

benefit statement

business portfolio

functional philosophy

mission

corporate code

Question 10. Question :

(TCO 1) Market share is the ratio of sales revenue of the firm to the total sales revenue of all _____, including the firm itself.

firms in the industry

firms in alternative industries

firms surveyed by the U.S. government

firms sharing in marketing principles

domestic firms

Question 11. Question :

(TCO 1) Step 2 in the planning phase of the strategic marketing process is

the situation analysis.

the market-product focus and goal setting.

the marketing program.

implementation.

obtaining resources.

Question 12. Question :

(TCO 1) A recent Congressional initiative mandated that the U.S. Department of Transportation (USDOT) establish a national traffic information collection system. The marketing manager of a company that provided traffic reports for local radio stations would most likely incorporate this knowledge into its SWOT analysis as

a strength if the company has an existing working relationship with the USDOT.

a threat if the USDOT will give this information directly to the radio stations.

a weakness if the company that provides local traffic information has no employees technologically capable of using the USDOT system.

an opportunity if the USDOT is creating a network of local traffic-information providers to address the mandate.

All of the above

Question 13. Question :

(TCO 1) To provide quick access to topics, a well-organized marketing plan should begin with

an executive summary.

the strategic focus.

a table of contents.

a situation analysis.

the market-product focus.

Question 14. Question :

(TCO 5) A company engaged in environmental scanning is

taking into account the effect its marketing activities can have on plants and animals in our environment.

continually acquiring information on events occurring outside the organization to identify and interpret potential trends.

maintaining a time constant horizon in its strategic planning process.

maintaining retail customer databases.

requiring all employees to spend time outside the office to avoid the “ivory tower” syndrome.

I

Question 15. Question :

(TCO 5) Social forces

include demographics and values.

usually have little impact on marketing strategy.

include reduced emphasis on trade regulation.

empower workers to improve their performance.

encourage international trade.

Question 16. Question :

(TCO 5) Studies of the _____ characteristics of the U.S. population suggest several important trends. Generally, the population is becoming larger, older, and more diverse. Marketers are developing products that will appeal to these target markets.

competitive

regulatory

geographic

demographic

economic

Question 17. Question :

(TCO 6) The concern for obtaining the best quality, features, and performance of a product or service for a given price is called

changing values.

multidimensional consumption.

buyer excellence.

purchasing excellence.

value consciousness.

Question 18. Question :

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

escalates; increase

escalates; decrease

decreases; increase

decreases; decrease

does not change; increase

Question 19. Question :

(TCO 5) One reason some people don’t like to .homeworkminutes.com/question/view/79452/devry-busn319-week-2-quiz-latest-july-2015-all-correct-answer#”>buy clothing from Internet retailers is the inability to know if the clothes will fit once they have arrived. ImageTwin has developed a scanning system with which it has gathered the measurements of individuals of all different sizes. All of the information has been fed into a database. Now, when you buy something at LandsEnd.com, you can see a 3-D image of what the item should look like on your body. This is an example of _____ forces in the marketing environment.

economic

regulatory

competitive

social

technological

:

Question 20. Question :

(TCO 5) The form of competition in which many sellers compete with their products on a substitutable basis is called

pure competition.

cross-market competition.

oligopoly.

monopolistic competition.

panopoly.

Question 21. Question :

(TCO 6) Which stage in the consumer .homeworkminutes.com/question/view/79452/devry-busn319-week-2-quiz-latest-july-2015-all-correct-answer#”>purchase decision process suggests criteria to use for the purchase, yields brand names that might meet the criteria, and develops consumer value perceptions?

Problem recognition

Information search

Alternative evaluation

Purchase decision

Postpurchase evaluation

Question 22. Question :

(TCO 6) Putting a dollar value on what a satisfied, loyal, repeat customer spends on a firm’s products during a year or a lifetime reveals that

focusing on customer retention is not very profitable.

the calculation is flawed and not practical.

companies that have focused on customer retention have not yet seen results.

focusing on customer retention can be very profitable.

companies are generally more profitable if they try to attract new customers rather than focus on customer retention.

Question 23. Question :

(TCO 6) Organizational buyers include all the buyers in a nation, except

retailers.

government.

manufacturers.

wholesalers.

ultimate consumers.

(TCO 6) Which of the following is characteristic of the organizational buying process?

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

Question 25. Question :

(TCO 6) Seven of the most commonly used organizational buying criteria are (1) _____, (2) ability to meet the quality specifications required for the item, (3) ability to meet required delivery schedules, (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.

taste of the buyer

personal friendship with sales representative

price

current mood of the buyer

opinion of the firm’s senior management

week 4

(TCO 1) The Book Promoters Association of Canada members recently questioned what could be done to rejuvenate the Canadian book publishing industry. Some members claimed the problem was that Canadian retailers had been replaced by Walmarts. Others said the problem was with stodgy promotions. Still others said the problem was caused by too little money being budgeted to fund marketing programs. It was time that Canadian book publishers used _____ to save the industry.
advertising

sales promotion

publicity

marketing research

tactical support

Question 2. Question :

(TCO 1) A conscious choice made from among two or more alternatives is called a

dilemma.

quandary.

decision.

paradox.

predicament.

Question 3. Question :

(TCO 1) During the marketing research process, _____ are the specific, measurable goals the decision maker seeks to achieve in conducting the marketing research.

measures of success

research objectives

marketing research plans

decisions

definitions

Question 4. Question :

(TCO 1) Obtaining data on the number of households that buy a particular product is an example of which type of marketing research?

Descriptive

Explanatory

Exploratory

Causal

Concrete

Question 5. Question :

(TCO 1) When Home Depot entered the Quebec market, 2% of the population was aware of the retail chain. To determine how effective its advertising was in the first 18 months of its presence in the Canadian province, it conducted awareness research for a second time. Prior to conducting the research, it was decided that if at least 50% of the population was aware of the Home Depot brand, it would continue its present advertising program. This is an example of a(n)

objective.

constraint.

assumption.

measure of success.

barrier to entry.

Question 6. Question :

(TCOs 3 and 4) A picture or verbal description of a product or service a firm might offer for sale is known as a(n)

hypothesis.

proposition.

new-product concept.

alternative.

opportunity.

Question 7. Question :

(TCO 1) Secondary data are the

facts and figures that are newly collected for the project at hand.

facts and figures obtained by watching people mechanically rather than in person.

facts and figures obtained by asking people questions.

facts and figures that have already been recorded before the project.

conclusions developed from information obtained from a representative sample of a population.

Question 8. Question :

(TCO 3) Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

consumer differentiation.

psychographics.

market segmentation.

market delineation.

aggregation marketing.

Question 9. Question :

(TCOs 3 and 4) Lands’ End will custom fit the Marinac jacket and make it with additional features, such as thumb loops, underarm ventilation slits, and a key clip, when you order from LandsEnd.com. This is an example of

mass customization.

synergy.

target marketing.

how the 80/20 rule is implemented.

repositioning.

Question 10. Question :

(TCO 6) There are five steps involved in segmenting and targeting a market. Which should a marketer do once he or she has selected a target market?

Create product groupings.

Develop a market-product grid.

Estimate the size of the market.

Take marketing actions to reach that target market.

Form prospective buyers into market segments.

Question 11. Question :

(TCO 6) Potential buyers within a segment should be

difficult to reach to prevent competitors from reaching them first.

similar to buyers among different segments.

similar in terms of a marketing action.

high cost to assign to segments.

interested in direct mail services.

Question 12. Question :

(TCOs 3, 5, and 6) A market-product grid is a framework to relate

estimated expenses for products sold to various market segments.

total anticipated revenue for each product to market segments.

total anticipated profit for each product to segments.

the market segments of potential buyers to products offered or potential marketing actions by an organization.

the market segments of potential buyers to relative market share compared to the closest competitor.

Question 13. Question :

(TCOs 2 and 6) Which of the following is a criterion used for selecting a target segment?

Potential for increased profit

Similarity of needs of potential buyers within a segment

Difference of needs of buyers among segments

Potential of a marketing action to reach a segment

Cost of reaching the segment

Question 14. Question :

(TCOs 3, 5, and 6) The place an offering occupies in consumers’ minds on important attributes relative to competitive products is called

product perception.

relative positioning.

competitive positioning.

product positioning.

selective perception.

Question 15. Question :

(TCOs 3, 5, and 6) Which of the following data are collected from consumers to develop a perceptual map for a particular product?

A listing of all prospective brands and products

Managerial judgments about how consumers perceive products

Judgments of existing products or brands with respect to important attributes

Rank order of the ratings of an existing brand’s preference relative to its competitors

All of the above data are collected from consumers.

Question 16. Question :

(TCOs 1, 3, 5, and 6) A _____ is a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range.

product class

product mix

product line

marketing category

product category

Question 17. Question :

(TCOs 1, 3, 4, 5, and 6) New chewing gum flavors like lemon-lime, crystal mint, and mint mojito helped Wrigley’s add to its sales. These new flavors are which type of innovation?

Continuous innovation

Dynamically continuous innovation

Discontinuous innovation

Insignificant innovation

Disruptive innovation

Question 18. Question :

(TCOs 1, 2, 3, 4, 5, and 6) When General Foods introduced Post Cereals with freeze-dried fruits, people found that by the time the fruit had absorbed enough milk, the flakes were soggy. Why did this product fail?

Poor product quality

Insignificant point of difference compared to competitive offerings

Too little market attractiveness

Poor execution of the marketing mix

No economical access to buyers

Question 19. Question :

(TCOs 1, 2, 3, 4, 5, and 6) The stages a firm goes through to identify business opportunities and convert them into salable goods or services are called the

situation analysis.

new-product process.

strategic management process.

SWOT analysis.

idea generation process.

Question 20. Question :

(TCOs 3, 4 and 6) The market testing stage of the new-product process often involves test markets or .homeworkminutes.com/question/view/79454/devry-busn319-week-4-quiz-latest-july-2015-all-correct-answer#”>purchase laboratories in which the dependent variable is

consumer attitudes.

price.

advertising.

product attributes.

sales.

Question 21. Question :

(TCOs 1, 3, 4, 5, and 6) The marketing objective for a product in the _____ stage of the product life cycle is to create consumer awareness and gain trial.

introduction

growth

maturity

decline

harvest

Question 22. Question :

(TCOs 1, 3, 5, and 6) When the Floral Council advertises giving flowers as a thoughtful and appreciated gift for any occasion, it is trying to stimulate _____ demand.

selective

primary

derived

generic

secondary

Question 23. Question :

(TCOs 1, 3, 5, and 6) The stage in the product life cycle labeled B in the below figure is called

introduction.

maturity.

growth.

diversification.

decline.

Question 24. Question :

(TCOs 1, 3, 5, and 6) Which of the following is a characteristic of the growth stage of the product life cycle?

Advertising emphasis switches to primary demand.

There is a growing proportion of repeat purchasers to initial purchasers.

Product features remain unchanged.

Profit margins increase as sales increase.

All of the above

Question 25. Question :

(TCOs 1, 3, 5, and 6) The stylized blue and white waves in an oval shape that appear on every package of Ocean Spray brand products is an example of a

copyright.

trade name.

service mark.

brand name.

generic brand.

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