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BUS 360 Exam # Marketers often use principles and theories from _____ and _____ to decipher many consumer actions and develop basic strategies for dealing with their behavior. Choose one answer. a. physics; chemistry b. history; archeology c. sociology; psychology d. art; romance novels e. English; mathematics Correct Marks for this submission: 2/2. Question 2 Marks: 2 After a marketing firm has identified the various stakeholders and their issues and gathered the available data, all parties relevant to the decision should engage in: Choose one answer. a. legal discourse. b. partying. c. re-identification of issues. d. choosing a course of action. e. brainstorming and evaluation of alternatives. Incorrect Marks for this submission: 0/2. Question 3 Marks: 2
Ritual consumption refers to a pattern of behaviors tied to life events that tend to have: Choose one answer. a. both a behavioral and universal component. b. an attitudinal disconnect from traditional culture. c. offer opportunities for marketers of convenience goods. d. symbolic meanings and vary greatly by culture. e. highly evaluative criteria. Incorrect Marks for this submission: 0/2. Question 4 Marks: 2 The fundamental goal of marketers when creating goods, services, or combinations of both, is to: (1 on B) Choose one answer. a. differentiate themselves from the competition. b. overwhelm consumers. c. provide what is needed as defined by government regulations. d. stimulate short-term sales. e. create value. Correct Marks for this submission: 2/2. Question 5 Marks: 2 In delivering value, marketing firms attempt to find the most desirable balance between:
a. Planning b. Implementation c. Control d. Segmentation e. Coordination Incorrect Marks for this submission: 0/2. Question 8 Marks: 2 _____ refers to the process by which goods, services, capital, people, and ideas flow across national borders. Choose one answer. a. Centralization b. Capitalization c. Globalization d. Coordination e. Nationalization Correct Marks for this submission: 2/2. Question 9 Marks: 2 After developing a mission statement, a firm or organization next must perform: Choose one answer.
a. relative market share division. b. a situational analysis. c. a market penetration strategy analysis. d. a mission-accomplished ceremony. e. cost-cutting surgery. Correct Marks for this submission: 2/2. Question 10 Marks: 2 Successful marketing firms focus their efforts on satisfying customer needs that: Choose one answer. a. are easiest to satisfy. b. provide minimum core value. c. offer generational cohort harmony. d. competitive intelligence has identified. e. match their core competencies. Correct Marks for this submission: 2/2. Question 11 Marks: 2 Marketers often compete for space next to the check out counter at grocery stores, knowing that space is good for: Choose one answer. a. impulse buying.
c. culture. d. compétitive intelligence. e. consumers. Correct Marks for this submission: 2/2. Question 14 Marks: 2 Marketing traditionally has been divided into a set of four interrelated decisions known as the marketing mix, or four Ps, including all of the following EXCEPT: (7 on B) (8 on C) Choose one answer. a. product. b. place. c. performance. d. promotion. e. price. Correct Marks for this submission: 2/2. Question 15 Marks: 2 In _____ pricing, the firm first determines the perceived worth of the product from the customer’s point of view and then prices accordingly. Choose one answer. a. product-based b. cost-based
c. competitor-based d. management-based e. value-based Correct Marks for this submission: 2/2. Question 16 Marks: 2 The final stage of the scenario planning process involves: Choose one answer. a. Assess strengths and weaknesses. b. Assess opportunities and threats. c. Assess the profitability of each scenario. d. Apply the marketing mix to the different scenarios. e. Identify different scenarios. Correct Marks for this submission: 2/2. Question 17 Marks: 2 Products that may damage the environment, use of sweatshop labor, and marketing of dangerous products are examples of: Choose one answer. a. internal, controllable marketing issues. b. managerial issues but not marketing issues. c. situational ethical issues.
e. aesthetics. Correct Marks for this submission: 2/2. Question 20 Marks: 2 Deceptive advertising and promotion of inferior products are examples of _____ ethical issues. Choose one answer. a. business b. marketing c. social d. finance e. economic Correct Marks for this submission: 2/2. Question 21 Marks: 2 Limited problem solving usually relies on: Choose one answer. a. past experience more than on external information. b. situational stimuli and attitudes. c. external search for information. d. financial analysis of performance risk. e. external information more than on past experience. Ans: A Page: 83
Correct Marks for this submission: 2/2. Question 22 Marks: 2 Garrett Brothers, Inc. manufactures stainless steel fittings for sailboats. They believe, to be successful, their primary goal should be to produce efficiently. Garrett Brothers operates as if it were in the _____ era. (on C only) Choose one answer. a. production b. sales c. marketing d. value-based marketing e. post-modern Correct Marks for this submission: 2/2. Question 23 Marks: 2 Which of the following is NOT one of the four major growth strategies marketers typically utilize? Choose one answer. a. Market penetration b. Market development c. Product proliferation d. Diversification
e. what the experts have to say about a purchase. Correct Marks for this submission: 2/2. Question 26 Marks: 2 In recent years, personal computer prices have fallen dramatically as many computer companies have shifted production and servicing facilities to other lower-cost countries. The winners are _____ while the losers are _____. Choose one answer. a. the U.S. trade deficit; domestic computer industry workers b. personal computer buyers; domestic computer industry workers c. domestic computer industry workers; offshore computer industry workers d. the World Trade Organization; the International Monetary Fund e. countertraders; trading blocs Correct Marks for this submission: 2/2. Question 27 Marks: 2 Generally, firms entering foreign markets begin with: Choose one answer. a. less risky strategies first. b. direct investment. c. importing.
d. decentralized production. e. cultural output. Correct Marks for this submission: 2/2. Question 28 Marks: 2 After a rash of embarrassing and potentially illegal activities, Jane is re-assessing the ethical standards and practices in her organization. Jane will assess all of the following EXCEPT: Choose one answer. a. whether the organization has a strong ethical climate. b. potential gains by continuing current unethical practices. c. the current code of ethics. d. what system for rewarding and punishing behavior is in place. e. what explicit rules for governing the firm’s transactions exist. Correct Marks for this submission: 2/2. Question 29 Marks: 2 To attract and maintain habitual purchasers, marketers spend considerable effort: Choose one answer. a. synthesizing consumer competitive intelligence data for postpurchase dissonance signals. b. creating strong brands and store loyalty. c. cultivating cultural decision making.
d. value-based marketing e. profit Incorrect Marks for this submission: 0/2. Question 32 Marks: 2 Marketing efforts designed to get the product or service to the right customer, when that customer wants, it are called: (4 on B not on C) Choose one answer. a. supply chain management. b. situational distribution efficiency. c. wholesaling. d. marketing myopia. e. endless chain marketing. Incorrect Marks for this submission: 0/2. Question 33 Marks: 2 The difference between a firm’s immediate marketing environment and its macroenvironment is that the macroenvironment is: Choose one answer. a. external. b. easier to understand. c. easier to control.
d. the same as the immediate environment. e. is fundamental to creating core competency. Incorrect Marks for this submission: 0/2. Question 34 Marks: 2 Introducing new products or services to a market segment the company is not currently serving is called: Choose one answer. a. product development. b. market development. c. market penetration. d. diversification. e. product proliferation. Correct Marks for this submission: 2/2. Question 35 Marks: 2 By monitoring their macroenvironment, firms can determine how such factors influence consumers and how they should respond to them. Marketing opportunities exist for firms that can: Choose one answer. a. avoid having to engage in macroenvironmental monitoring. b. successfully engage in post-market scenario planning. c. anticipate changes in the macroenvironment. d. identify who are the offspring of Tweens.
Correct Marks for this submission: 2/2. Question 38 Marks: 2 Firms use _____ to collect, and synthesize information about their position with respect to their rivals. Choose one answer. a. demographic data b. competitive intelligence c. regional regression analysis d. macroeconomic variable analysis e. intuitive diagnostics Correct Marks for this submission: 2/2. Question 39 Marks: 2 The consumer decision process model represents: Choose one answer. a. the concept of habitual decision making. b. the retrieval of an evoked set based on physiological needs. c. the steps that consumers go through before, during, and after making purchases. d. the predicted process consumers go through when shifting from an internal locus of control to an external locus of control. e. the decisions all consumers must make. Correct
Marks for this submission: 2/2. Question 40 Marks: 2 When identifying and evaluating opportunities, STP refers to: Choose one answer. a. simplification, teaching, and professing. b. strategic, target, and preferences. c. segmentation, targeting, and positioning. d. situation, teamwork, and planning. e. sustainable, temporary, and positions. Correct Marks for this submission: 2/2. Question 41 Marks: 2 “Effective marketing doesn’t just happen.” It is: Choose one answer. a. promoted through STP analysis. b. imagined. c. planned. d. introduced through control phase SBUs. e. the result of competitor’s failures. Correct Marks for this submission: 2/2. Question 42
