Strayer MKt100 week 3 quiz 2

| August 14, 2017

Question 1

Favorable
conditions in the marketplace environment that could produce business rewards
for the organization if acted upon properly are called
Answer

strengths.

market strategies.

market niches.

threats.

opportunities.

Question 2

The term
“____” describes measuring and evaluating a firm’s quality in
products and processes against industry leaders.
Answer

total quality management

benchmarking

internal marketing

empowerment

implementation

Question 3

According to
the text, a market is defined as
Answer

a place to buy products.

the buyers of the products that a company develops, promotes, prices,
and distributes.

the specific group of customers on whom an organization focuses its
marketing efforts.

a group of individuals and/or organizations that have needs for
products in a product class and have the ability, willingness, and authority
to purchase these products.

the percentage of a group of customers that actually buys a specific
product from a specific company.

Question 4

An
organization’s business goals should be derived from its
Answer

mission statement.

strategic plan.

strategic business plan.

marketing plan.

marketing strategy.

Question 5

The Boston
Consulting Group classifies products that have a dominant market share but low
prospects for growth and that generate more cash than is required to maintain
market share as
Answer

dogs.

cash cows.

stars.

cash contributors.

question marks.

Question 6

According
to the Boston Consulting Group, marketers may classify their products as all
of the following except
Answer

dogs.

cash contributors.

question marks.

stars.

cash cows.

Question 7

An
analysis of ____ examines internal factors that give the organization
certain advantages and disadvantages in meeting the needs of its target
markets.
Answer

opportunities and threats

market opportunities

strengths and weaknesses

activities and responsibilities

organizational resources

Question 8

A marketing
unit can be organized according to functions, products, regions, and
Answer

sales.

target markets.

competitive units.

types of customers.

product features.

Question 9

A ____ is
created when a company matches its core competency to opportunities it has
discovered in the marketplace.
Answer

market opportunity

market requirement

competitive advantage

strategic window

competitive opportunity

Question 10

Resource
deployment and coordination of functional areas of business are determined by
Answer

the mission statement.

corporate strategy.

business-unit strategy.

marketing strategy.

the marketing mix.

Question 11

The amount of
money received through wages, rents, investments, pensions, and subsidies is
called
Answer

income.

wealth.

discretionary income.

prosperity.

credit.

Question 12

Employees,
customers, communities, and investors are all considered ____ in relation to
marketing.
Answer

responsibilities

stakeholders

shareholders

constituents

owners

Question 13

Consumers
begin to become more price and value conscious during periods of
Answer

inflation.

prosperity.

recession.

depression.

recovery.

Question 14

Procompetitive
laws are those designed to
Answer

preserve competition.

protect the consumer.

ensure product safety.

reduce competition.

limit business lobbying of government officials.

Question 15

Assuming that
inflation is low, high buying power characterizes the ____ stage of the
business cycle.
Answer

prosperity

depression

recovery

succession

recession

Question 16

Marketing
ethics
Answer

refers to laws and regulations that govern marketing.

refers to principles and standards that define acceptable conduct in
marketing.

maximizes an organization’s positive impact and minimizes its negative
impact on society.

is most important for advertising agencies.

applies well-defined rules for appropriate marketing behavior.

Question 17

Total buying
power declines during periods of economic
Answer

recovery.

prosperity.

recession.

uncertainty.

expansion.

Question 18

When a firm
has many potential competitors and tries to develop a marketing strategy to
differentiate its products from the competitors’ products, a(n) ____ structure
exists in the competitive environment.
Answer

oligopoly

monopoly

pure competition

oligopolistic competition

monopolistic competition

Question 19

Which of the
following agencies would most likely have jurisdiction over the problem with
lead in the paint of children’s toys?
Answer

Consumer Product Safety Commission

Children’s Online Protection Act

Food and Drug Administration

Environmental Protection Agency

National Advertising Review Board

Question 20

The 1990
Nutritional Labeling and Education Act directly prohibits
Answer

exaggerated claims made by health and fitness products.

putting the words “cholesterol-free” on any food package.

putting nutritional information on most food products.

exaggerated health claims on food packages.

the use of any health claim on food packaging.

Order your essay today and save 30% with the discount code: ESSAYHELPOrder Now