NU MKT302A WEEK 1 QUIZ

| June 7, 2016

Question
Question 1

Champion Lyte is a sugar-free sports drink designed to replenish electrolytes lost during activity or illness. Since the product was designed primarily for diabetics, healthcare professionals who treat diabetics are its primary target market.

True

False

Question 2

The U.S. government prohibits the importation of Havana cigars because of political differences with Cuba. This is an example of a boycott.

True

False

Question 3

As marketers gain more experience in marketing a product, costs tend to decrease, which is an example of the maturity effect.

True

False

Question 4

According to the American Marketing Association, marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

True

False

Question 5

Consumers born between 1965 and 1978 form a group called:

Tweens.

Yuppies.

cohort markets.

America’s mass market.

Generation X.

Question 6

H. J. Heinz, the ketchup company, gets over half of its revenue from international sales. This shows that:

U.S. citizens are using less ketchup.

their market share should increase.

Heinz needs to abandon the U.S. market.

sales need to be increased domestically.

adopting a global vision can pay off.

Question 7

Sara Lee Industries spent considerable money and time developing a crustless bread. Prior to the introduction, the company had not conducted market research among its customers, but it was confident that its science and technology department had produced a successful new product. Based on this example, Sara Lee is a good example of a production-oriented company.

True

False

Question 8

Customer value is the relationship between company profits and company costs.

True

False

Question 9

Global marketing research is not any more difficult than domestic marketing research.

True

False

Question 10

The marketing plan is a written document that acts as a guidebook of marketing activities for the marketing manager.

True

False

Question 11

The total market value of all final goods and services produced in a country for a given time period is called:

the exchange rate

gross domestic product (GDP)

the trade balance

gross national product (GNP)

gross operating surplus (GOS)

Question 12

Corporate social responsibility is defined as the:

belief that the legal system defines ethical behavior

development of inclusive codes of ethics

rules by which social rewards are attained

business’s concern for society’s welfare

coordination of social programs for publicity purposes

Question 13

1 out of 1 points

Because social responsibility has proven to have a limited return on investment, the number of businesses opting to act socially responsible is declining.

True

False

Question 14

One facet of marketing is that it is:

an approach that focuses on maximizing sales

a short-term oriented approach to profit maximization

an approach that requires diversity

a philosophy that stresses customer satisfaction

independent of value creation

Question 15

Berkshire Hathaway Inc., a large property insurance company, owns a large chain of jewelry stores and has recently purchased Russell Corporation, a manufacturer of sporting goods. Berkshire Hathaway uses a market penetration strategy.

True

False

Question 16

Barry collects antique watches and has decided to sell a few of them on eBay. Some of the watches he wants to sell are rare and very valuable. What condition is necessary for an exchange to occur between Barry and a buyer?

His watch should have a certificate of authenticity.

The opening bid must be lower than other watches being sold on the site.

Buyers must provide payment before the item is shipped.

Delivery must take place within 2 days of the purchase.

Potential buyers must be able to see the watch and understand its qualities.

Question 17

Which demographic category represents the lowest percentage of the U.S. population, but has the highest average family income?

Asian Americans

African Americans

Caucasians

Hispanic Americans

get their news from newspapers rather than television or the radio.

Question 18

_____ factors are environmental factors that include our attitudes, values, and lifestyles.

Social

Economic

Political

Competitive

Demographic

Question 19

Global trade has climbed to about $200 billion a year.

True

False

Question 20

The external environment:

can be controlled in much the same manner as the internal marketing mix

cannot be influenced by marketing managers

does not change over time

does not have an impact on Fortune 500 companies

must be continually monitored by marketing managers

Question 21

All of the following are factors influencing ethical decision making and judgments EXCEPT:

rate of prosecution

top management actions on ethics

probability of a harmful outcome

number of people to be affected

social consensus

Question 22

The publisher of Ebony magazine has forged an alliance with Dan River, Inc. to create luxury bed and bath products for the newly developed Ebony Home brand. Ebony Home will use the publisher’s long history and expertise to market to the African American market. The African American market is the _____ for the Ebony Home brand.

target market

buying center

aggregated unit

consumer cluster

demographic sample

Question 23

In the context of global marketing, product invention can be taken to mean either creating a new product for a market or drastically changing an existing product.

True

False

Question 24

NAFTA is the New American Foreign Trade Amendment, which allows for balanced trade with the European Union.

True

False

Question 25

Environmental scanning entails the collection and analysis of information about factors that may affect the organization as well as the identification of market opportunities and threats.

True

False

Question 26

Zimmer-Centerpulse is the world’s largest producer of replacement hips and knees for orthopedic surgery. They are particularly interested in marketing in the southwestern United States, where a large aging population lives. Which external environmental element most directly explains its continued growth?

Economic conditions

Political conditions

Culture

Demography

Social forces

Question 27

With hospitals nationwide facing budget cuts and slimmer profit margins, Dekalb County’s Medical Center decided to cash in on one of the most consistently profitable services–delivering babies. It initiated a three-year project to build a $55 million state-of-the-art women’s center with 18 labor and delivery suites. When the hospital decided to commit its resources to obstetrics, it was engaging in:

benchmarking

alternative problem solving

strategic planning

portfolio evaluation

tactical control

Question 28

The four Ps of the marketing mix are product, planning, promotion, and price.

True

False

Question 29

A code of ethics can be an effective internal control on behavior, which is more desirable than external controls such as government regulation.

True

False

Question 30

Personnel in sales-oriented firms tend to be “outward looking,” focusing on selling what the market wants.

True

False

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