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MKT 571 Week 1 Quiz Complete Assignment Help

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Title: MKT 571 Week 1 Quiz Complete Assignment Help

1
MKT 571 Week 1 Quiz

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
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.
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
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
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
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
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
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
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
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