MKT 571/MKT571 WEEK 1 QUIZ

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 beat the
competition to a sale
To avoid serious
customer mistakes
To deepen customer
loyalty
To decide which
customers should receive a new sales offer
By
2015, projections indicate that the largest category of households will be
composed of
Single-parent
families
Singles living
with nonrelatives
Childless married
couples and empty nesters
Married couples
with children
In
the U.S., consumer expenditures on homes and other large purchases tend to slow
down during a recession because
Consumer borrowing
increases during recession
The consumers have
a high debt-to-income ratio
Of steady supply
of loanable funds in the economy during recession
Of stringent
credit policies adopted by the Fed before the onset of recession
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 is
involved with price as the major factor.
Marketing balances
the need for data with that of creativity.
Marketing focuses
on sales as the primary goal.
Marketing is about
advertising.
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
Differentiation
Promotional
Diversification
Which
of the following industries is most likely to use database marketing?
A school system
A supermarket
chain
A physician’s
office
A local restaurant
Which
market do customers who have purchased and are driving Audi automobiles
represent?
Available market
Target market
Penetrated market
Potential market
How
does the market demand curve change (as a function of marketing expenditure)
during recession?
Remains unaffected
Shifts upward
Shifts downward
Becomes vertical
When Apple
introduced iTunes, a new market was opened. Which of the following describes
this type of innovation?
Value chain
Presence
Operational
excellence
Value capture
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 occurs when at
least one party to a potential exchange thinks about the means of achieving
desired responses from other parties.
It is defined as
the field that deals with planning and managing a business at the highest level
of corporate organization.
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
Differentiation
Market
development
Integrative growth
Overall cost
leadership
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 others
Views of nature
Views of
organizations
Which of
the following statements demonstrates behavioral loyalty towards a brand?
Myfavorite Laundry
detergent is so easy to use.
I always buy
Myfavorite Laundry detergent when purchasing laundry detergent.
My friends agree
Myfavorite Laundry detergent is the best.
Myfavorite Laundry
detergent smells good.
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.
Tertiary
information
Licensed
information
Primary data
Secondary data
One of the
most critical steps in the defining process of market research is
Developing a
research plan
Defining the
problem, the decision alternatives, and research objectives
Analyzing the
internal environment
Reading marketing research
journals
A
company’s sales potential would be equal to market potential when which
situations exists?
The market is
nonexpandable.
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.
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?
Secondary
Qualitative
Exploratory
Causal
The Soccer
World Cup is promoted aggressively to both companies and fans. This is an
example of marketing a(n)
Event
Idea
Place
Service