Liberty University BUSI 520 Quiz 1

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•             Question 1

2 out of 2 points

                In response to threats from such companies as Amazon.com, E*TRADE, and dozens of others, established manufacturers and retailers became "brick-and-click" oriented by adding online services to their existing offerings. This is known as ________.                                    

                Selected Answer:                                                           

•             Question 2

2 out of 2 points

                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.                                           

                Selected Answer:           

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•             Question 3

2 out of 2 points

                Showrooming is associated with which of the following new consumer capabilities?                                       

                Selected Answer:                                                           

•             Question 4

2 out of 2 points

                The ultimate outcome of relationship marketing is a unique company asset called the ________, consisting of the company and its supporting stakeholders.                                          

                Selected Answer:                                                           

•             Question 5

2 out of 2 points

                As a major steel manufacturer, SteelMakers Inc. focuses on having the most efficient manufacturing processes in place. The company believes that its competitive edge lies in its ability to offer the best prices. They also maintain an excellent distribution network that ensures wide availability of their products. SteelMakers has a ________ orientation.                                               

                Selected Answer:                                                           

•             Question 6

2 out of 2 points

                Soccer's World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) ________.                                        

                Selected Answer:                                                           

•             Question 7

2 out of 2 points

                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.                                 

                Selected Answer:                                                           

•             Question 8

2 out of 2 points

                During market segmentation analysis, the marketer identifies which segments present the greatest opportunity. These segments are called ________ markets.                                

                Selected Answer:                                                           

•             Question 9

2 out of 2 points

                As economies advance, a growing proportion of the economy's activities focuses on the production of ________.                                               

                Selected Answer:                                                           

•             Question 10

2 out of 2 points

                People in emerging countries today are becoming increasingly health conscious and are seeking healthy food choices. As a result, demand for health foods is rising steadily, creating an opportunity for marketers to exploit this ________ market.                                         

                Selected Answer:                                                           

•             Question 11

2 out of 2 points

                The first phase of the value creation and delivery sequence is ________ the value that represents the "homework" marketing must do before any product exists.                                       

                Selected Answer:                                                           

•             Question 12

2 out of 2 points

                The last step in the value creation and delivery sequence is ________ the value where the sales force, sales promotion, advertising, and other communication tools announce and promote the product.                                    

                Selected Answer:                                                           

•             Question 13

2 out of 2 points

                Which of the following terms can be defined as "the shared experiences, stories, beliefs, and norms that characterize an organization"?                                  

                Selected Answer:                                                           

•             Question 14

2 out of 2 points

                Which of the following elements of a marketing plan permits senior management to grasp the plan's major thrust?                                               

                Selected Answer:                                                           

•             Question 15

2 out of 2 points

                The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.                                

                Selected Answer:                                                           

•             Question 16

2 out of 2 points

                Most large companies consist of four organizational levels: the corporate level, the ________ level, the business unit level, and the product level.                                             

                Selected Answer:                                                           

•             Question 17

2 out of 2 points

                A company that seeks to increase its sales and profits through backward, forward, or horizontal integration within the industry is said to be employing a(n) ________ growth strategy.                                     

                Selected Answer:                                                           

•             Question 18

2 out of 2 points

                James Frank has been put in charge of gathering marketing intelligence and eventually directing action on the information. Mr. Frank's task is best described as part of the ________ process.                                             

                Selected Answer:                                                           

•             Question 19

2 out of 2 points

                Which of the following is true about the technology trends that marketers should monitor?                                       

                Selected Answer:                                                           

•             Question 20

2 out of 2 points

                A company can expect to expand its market share to a large extent when ________.                                   

                Selected Answer:                                                           

•             Question 21

2 out of 2 points

                Firms whose products require ________ resources — oil, coal, platinum, zinc, silver — face substantial cost increases as depletion approaches.                                        

                Selected Answer:                                                           

•             Question 22

2 out of 2 points

                ________ refer to groups of individuals who are born during the same time period and travel through life together.                                            

                Selected Answer:                                                           

•             Question 23

2 out of 2 points

                ________ beliefs and values are passed from parents to children and reinforced by social institutions — schools, churches, businesses, and governments; they are very difficult to change.                                          

                Selected Answer:                                                           

•             Question 24

2 out of 2 points

                Companies can practice targeted marketing by using ________, which are records of Web site usage stored on personal browsers.                                        

                Selected Answer:                                                           

•             Question 25

2 out of 2 points

                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.                                      

                Selected Answer:                                                           

•             Question 26

2 out of 2 points

                Which of the following is true of the various elements of the multi-factor index method of estimating area market potentials?                                        

                Selected Answer:                                                           

•             Question 27

2 out of 2 points

                Anne, a beautician by profession, owns a salon in the small town of Franklin, New Jersey. Every weekend, she makes it a point to visit the other salons in Franklin to find out about the beauty services they offer to customers. Anne is attempting to conduct market research by ________.                                  

                Selected Answer:                                                           

•             Question 28

2 out of 2 points

                "Truancy should be checked in schools: 1) Strongly disagree, 2) Disagree, 3) Neither agree nor disagree, 4) Agree, 5) Strongly agree." This is an example of a ________.                                        

                Selected Answer:                                                           

•             Question 29

2 out of 2 points

                ________ requires people to create a collage from magazine photos or drawings to depict their perceptions.                                   

                Selected Answer:                                                           

•             Question 30

2 out of 2 points

                ________ questions allow respondents to answer in their own words and often reveal more about how people think.                                   

                Selected Answer:                                                           

•             Question 31

2 out of 2 points

                The primary purpose of ________ is to identify the range of possible brand associations in consumers' minds.                                 

                Selected Answer:                                                           

•             Question 32

2 out of 2 points

                Which of the following statements about telephone interviewing is true?                                           

                Selected Answer:                                                           

•             Question 33

2 out of 2 points

                Which of the following is an advantage of personal interviews?                                

                Selected Answer:                                                           

•             Question 34

2 out of 2 points

                An item in a questionnaire states that "most politicians cannot be trusted." Respondents are required to provide their answers by choosing any one of the following options: 1) Strongly disagree, 2) Disagree, 3) Neither agree nor disagree, 4) Agree, 5) Strongly agree. This is an example of a ________.                                              

                Selected Answer:                                                           

•             Question 35

2 out of 2 points

                ________ marketing is about making sure the brand and its marketing are as personally relevant as possible to as many customers as possible — a challenge, given that no two customers are identical.                                  

                Selected Answer:                                                           

•             Question 36

2 out of 2 points

                ________ helps companies manage and monitor online reviews using a process called device fingerprinting.                                    

                Selected Answer:                                                           

•             Question 37

2 out of 2 points

                Which of the following is an example of focusing disproportionate effort on high-profit customers?                                       

                Selected Answer:                                                           

•             Question 38

2 out of 2 points

                Which of the following is an example of enhancing the growth potential of each customer through cross-selling?                                               

                Selected Answer:                                                           

•             Question 39

2 out of 2 points

                ________ is the difference between the prospective customer's evaluation of all benefits and all costs of an offering and the perceived alternatives.                                              

                Selected Answer:                                                           

•             Question 40

0 out of 2 points

                Which of the following is true for activity-based costing (ABC)?                                 

                Selected Answer:                                                           

•             Question 41

2 out of 2 points

                In a modern customer-oriented organization chart, the ________ of an organization immediately follow the customer segment.                                       

                Selected Answer:                                                           

•             Question 42

0 out of 2 points

                Companies provide rewards to customers who buy often and in substantial amounts. These reward schemes are referred to as ________ programs.                                       

                Selected Answer: