MKT 571 Week 1 Quiz Assignment

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MKT 571 Week 1 Quiz Assignment

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• 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
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• 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
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• 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
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• 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
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• 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
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• 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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• 11. Which of the following industries is most
  likely to use database marketing?
• A supermarket chain
• A local restaurant
• A physicians office
• A school system
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• 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
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• 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

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• 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
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• 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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