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BUSI 520 Quiz 1 with Answers

1. Which of the new four Ps encompasses the old four Ps as well as a range of other marketing activities that might not fit well into the old view of marketing?
2. Marketers at Johnny Inc. believe in putting their customers ahead of everything else. Their products are carefully designed to meet customer requirements and the entire focus is on achieving customer satisfaction. Johnny Inc. follows the ________ concept in doing business.
3. The ________ concept holds that consumers and businesses if left alone, will ordinarily not buy enough of the organization’s products.
4. Soccer’s World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) ________.
5. Chipotle engages customers through Facebook, Twitter, and other social media via its grassroots “Food with Integrity” digital strategy, which puts the focus on what it sells and where it comes from. These are examples of ________ media.
6. Webmax Inc. produced and marketed cameras. After considerable research and development, they developed a new digital camera that had an array of new features. Webmax was so sure about the new offering that they even reduced their marketing budget. What sort of orientation does Webmax have toward the marketplace?
7. Which of the following reflects the “people” component of the marketing mix?
8. The actual and potential rival offerings and substitutes that a buyer might consider are referred to as the ________.
9. As economies advance, a growing proportion of the economy’s activities focuses on the production of ________.
10. The ultimate outcome of relationship marketing is a unique company asset called the ________.
11. Angelo made the decision to outsource the software components of his consulting company so he could focus on the company’s ________, which are sources of competitive advantage, make a contribution to perceived customer benefits, have application in a wide variety of markets, and are difficult to imitate.
12. Which of the following is an example of intensive growth?
13. Core competencies tend to refer to areas of special technical and production expertise, whereas ________ tend to describe excellence in broader business processes.
14. The most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficient competitive analysis, and a ________ focus.
15. ________ management allows the company to discover who its target markets are, how they behave, and what they need or want.
16. What is the second phase of the value creation and delivery sequence?
17. Which financial projections include three estimates (optimistic, pessimistic, and most likely)?
18. Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.
19. People vary in their views of society and their consumption patterns often reflect their social attitudes. ________ are a major market for movies, music, surfing, and camping.
20. Abby lives in a suburb of Atlanta with her three children. She is part of the biggest household change this decade, which was ________.
21. Which of the following represents a raw-material-exporting economy?
22. The ________ market is the set of consumers who are buying the company’s product.
23. As the manager of an organization that is attempting to build a Marketing Information System (MIS), you have been informed that an MIS is built upon three fundamental information sources. The sources are ________, marketing intelligence activities, and marketing research.
24. When its monitoring software spotted a Twitter post that went to 10,000 followers from an upset consumer who couldn’t redeem a prize from a MyCoke rewards program, Coke quickly posted an apology on his Twitter profile and offered to help resolve the situation. This is an example of which of the following?
25. The sales goal set for a product line, company division, or sales representative of an organization is called ________.
26. Which of the following organizations is likely to use the multiple-factor index method to estimate the market potential?
27. If a researcher asks a consumer why s/he wants to buy a Nokia cell phone, and learns, “They look well built” (attribute)? and learns “It suggests Nokia is reliable” (a functional benefit); then asks “Why is reliability important?” and learns “Because my colleagues or family can be sure to reach me” (an emotional benefit), the researcher is using a technique called ________.
28. When American Airlines asked how many first-class passengers would purchase in-flight Internet service at $25, they were conducting ________ research.
29. Installing CCTV cameras in a retail store whereby consumers’ actions can be recorded is an example of ________ research.
30. Unistar Inc., is an FMCG company that produces a wide range of offerings such as grocery items and personal care products. If Unistar wants to estimate the demand for its new line of body moisturizers, which are all priced at $18, it should opt for ________ research.
31. The goal of ethnographic research is to ________.
32. ________ is the information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.
33.  As a marketing researcher wishes to reach those people who would not give personal interviews or whose responses might be biased or distorted by interviewers, he or she should use ________.
34. The 80-20 rule reflects the idea that ________.
35. The bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of a market offering is called the ________.
36. Total customer satisfaction is measured based on the relationship of ________.
37. Jack has shopped at VeggiesNmore. However, he is also eager to try out other stores in the neighborhood. He is in the ________ stage of the marketing funnel as far as shopping at VeggiesNmore is concerned.
38. ________ can track customer satisfaction directly, measure repurchase intention and also gauge a consumer’s willingness to recommend the company and brand to others.
39. A customer touch point for Abacus Airlines would be an item such as ________.
40. Which of the following was NOT part of the British Airways “Know Me” program?
41. The aim of customer relationship management is to produce high customer ________.
42. ________ are rules of thumb or mental shortcuts in the decision process.
43. Even if consumers form brand evaluations, two general factors can intervene between the purchase intention and the purchase decision: one is unanticipated situational factors; what is the other factor? (BUSI 520 Quiz)
44. ________ assumed that the psychological forces shaping people’s behavior are largely unconscious, and that a person cannot fully understand his or her own motivations.
45. Consumers often choose and use brands that have a brand personality consistent with how they think others view them, also known as the ________ self-concept.
46. ________ is the study of how individuals, groups, and organizations. Select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants. (BUSI 520 Quiz)
47. Ford Motors uses the ad caption “Magnify the Adventure” to promote its latest SUV, the Ford Endeavour. The ad features the car traveling through an uneven, rocky terrain. Within the context of Jennifer Aaker’s brand personality analysis, Ford Endeavour is most likely to be strong on which of the following traits?
48. Marriage, childbirth, and divorce constitute the ________ that shape the consumption pattern of individuals. (BUSI 520 Quiz)
49. ________ refers to the process in which information gets out of memory. So, Check out more courses on COM.