Santa Monica BUS20 Exam 1

Santa Monica BUS20 Exam 1

Question

Question 1.1. Marketers first identify consumer needs and then provide products that satisfy those needs. This practice is referred to as ________. (Points : 1)

the stakeholder orientation

the marketing concept

Total Quality Management

the production orientation

the marketing mix

Question 2.2. ________ utility is the benefit marketing provides by transforming raw materials into finished products, as when a dress manufacturer combines silk, thread, and a zipper to create a bridesmaid's gown. (Points : 1)

Form

Place

Time

Possession

Price

Question 3.3. The Total Quality Management (TQM) philosophy involves all employees in ________. (Points : 1)

customer relationship management

continuous product quality improvement

market positioning

creating sustainability

increasing the lifetime value of customers

Question 4.4. The second step in developing a competitive advantage is to turn a distinctive competency into a ________ that is important to customers. (Points : 1)

target market

service

marketing mix

market position

differential benefit

Question 5.5. A ________ is a series of activities involved in designing, producing, marketing, delivering, and supporting any product. (Points : 1)

value proposition

production orientation

value chain

marketing concept

market position

Question 6.6. Apple relied on its inventive product designers to create a ________, a futuristic looking computer in a multitude of colors. (Points : 1)

promotion

value chain

service

differential benefit

market segment

Question 7.7. The ________ is a document that describes the marketing environment, outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy. (Points : 1)

marketing mix

marketing plan

value proposition

value chain

open source model

Question 8.8. The ________ consists of the tools an organization uses to create a desired response among a set of predefined consumers. (Points : 1)

distinctive competency

market position

value proposition

differential benefit

marketing mix

Question 9.9. A sign manufacturer who uses plastic, metal, and neon tubing to create a motel sign has performed the marketing benefit of creating ________ utility. (Points : 1)

form

place

possession

time

creation

Question 10.10. Which of the following is the best example of a consumer good? (Points : 1)

the riding lawn mower purchased by the landscaping company

the disposable diapers purchased by the new mother for her baby

the paint purchased by the contractor

the cookies purchased for the daycare center

the art supplies purchased for the elementary school art center

Question 11.11. When comparing itself to its competitors, Hidden Valley describes its Ranch dressing as the original. This is the ________ the manufacturer has selected for the product. (Points : 1)

marketing mix

market segment

market position

marketing concept

value chain

Question 12.12. Jack provides heating and air conditioning equipment for office buildings. He sells ________. (Points : 1)

distributive goods

consumer services

consumer goods

industrial goods

intangible goods

Chapter 2

Submit for Grade ONLY when you have completed the ENTIRE exam.

Question 1.1. ________ is the third, or "nuts-and-bolts," level of planning. (Points : 1)

Strategic planning

Functional planning

Operational planning

Product development

Business planning

Question 2.2. Vice presidents of large companies are typically in charge of ________ planning. (Points : 1)

business

strategic

operational

functional

day-to-day

Question 3.3. The second step in strategic planning is to ________. (Points : 1)

formalize a mission statement

establish the business portfolio

set SBU and department-level objectives

set organizational objectives

assess the organization's internal and external environments

Question 4.4. According to the BCG growth-market share matrix, ________ are strategic business units with products that have a dominant market share in a low-growth market. (Points : 1)

dogs

exclamation points

cash cows

stars

question marks

Question 5.5. According to the BCG growth-market share matrix, ________ are strategic business units with products that have a small share of a slow-growth market. (Points : 1)

dogs

exclamation points

cash cows

stars

question marks

Question 6.6. In the ________ stage of marketing planning, marketers must determine how they want consumers to think of their product in comparison to competing products. (Points : 1)

develop a mission statement

perform a situation analysis

develop marketing strategies

develop distribution strategies

implement the plan

Question 7.7. Concrete measures of various aspects of marketing performance are called ________. (Points : 1)

operational plans

marketing metrics

action plans

marketing objectives

pricing strategies

Question 8.8. Marketing planning is followed by the ________, which details how the plan will be carried out, outlining the day-to-day execution. (Points : 1)

operational plan

time line

SWOT analysis

strategic plan

marketing metric

Question 9.9. Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis? (Points : 1)

A company is more able to change a threat than a weakness.

A company is more able to change a weakness than a threat.

A company can be more negatively affected by a weakness than by a threat.

A company can be more negatively affected by a threat than by a weakness.

A company can more easily identify threats than weaknesses.

Question 10.10. The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. In order to increase market share, managers would be most likely to decide which of the following? (Points : 1)

hold the pharmaceuticals division's share

implement a harvest strategy

use money from a cash cow to promote the pharmaceuticals division

divest the SBU

diversify the pharmaceutical division

Question 11.11. John H. Harland Company is a large company with 5,200 employees and almost $800 million in sales . The company is best known for printing personal and business checks. Harland Analytical Services is a technology company that produces software that enables banks to gauge the behavior of their customers by tracking their spending habits. In addition, Harland owns Scantron, a computerized testing and assessment company. The ________ for John H. Harland Company includes its check-printing business, its financial software business, and its testing and assessment business. (Points : 1)

business portfolio

marketing mix

market penetration

functional plan

market classification

Chapter 3


Question 1.1.Trading firms that work out elaborate deals in which they trade or barter their products with one another or even supply goods in return for tax breaks from the local government are using ________. (Points : 1)

protectionism
competitive intelligence
gray marketing
countertrade
inflation

Question 2.2.Which of the following statements about the World Trade Organization (WTO) is true? (Points : 1)

The WTO is a branch of the U.S. government.
Only countries that belong to established economic communities are granted membership in the WTO.
Only developed nations are granted membership to the WTO.
The WTO's main function is to help least developed countries grow their economies.
The WTO is the only international organization that deals with the global rules of trade between nations.

Question 3.3.Which of the following measures is often a good indicator of a country's economic health because it is adjusted for the population size of each country? (Points : 1)

per capita GDP (gross domestic product)
GNP (gross national product)
the Big Mac Index
standard of living
economic infrastructure

Question 4.4.________ income is the amount of money an individual has left to spend after paying for necessities such as housing, utilities, food, and clothing. (Points : 1)

Discretionary
Gross product
Standard of living
Inflationary
Competitive

Question 5.5.Through ________ competition, competitors offer different products, attempting to satisfy the same consumers' needs and wants. (Points : 1)

discretionary income
product
brand
monopolistic
oligopolistic

Question 6.6.The ________ Act (1946) protects and regulates brand names. (Points : 1)

Federal Trade Commission
Lanham Trademark
Fair Packaging and Labeling
Consumer Products Safety Commission
Robinson-Patman

Question 7.7.After exporting, the next level of commitment a firm can make to a foreign market is a contractual agreement. Two of the most common types of such agreements are ________. (Points : 1)

contract manufacturing and contract marketing
contract manufacturing and strategic alliances
joint ventures and franchising
warehousing and financing
licensing and franchising

Question 8.8.Many countries outlaw ________, a practice in which a company prices its products lower than they are priced at home. (Points : 1)

gray marketing
parallel importing
black marketing
dumping
countertrading

Question 9.9.Trusted Wholesalers is a company that purchases products produced in Mexico and sells them to companies based in the United States and Canada. Management at Trusted Wholesalers would most likely be interested in becoming experts in the agreements made by ________. (Points : 1)

the EU
NAFTA
CAFTA
APEC
MERCOSUR

Question 10.10.Capital Radio PLC, the UK's biggest commercial radio firm, announced in 2002 that it would partner with Walt Disney Company to create a radio network for English-speaking children under the age of sixteen. The new company created by this agreement is an example of a(n) ________. (Points : 1)

joint venture
tactical alliance
direct investment
straight extension
backward invention

Question 11.11.Japanese who give currency as gifts will typically wash the money before making the presentation. This is a(n) ________ in a nation of people who place high importance on cleanliness. (Points : 1)

custom
demographic
cultural value
ethnocentric attitude
extortion

Question 1.1. Data such as which of a company's customers buy which products, which items the company has in stock, and when the company ships items to its customer are all examples of ________. (Points : 1)

marketing intelligence

acquired data points

external primary data

marketing research

internal company data

Question 2.2. The process through which analysts sift through massive amounts of available data to identify unique patterns of behavior among different customer groups is called ________. (Points : 1)

causal research

custom research

longitudinal research

data warehousing

data mining

Question 3.3. Nielsen compiles ratings of television shows and then sells the information to many firms. Nielsen conducts ________. (Points : 1)

custom research

case study research

syndicated research

exploratory research

ethnographic research

Question 4.4. A company that compiles and uses large amounts of data to understand its customers is likely to have a(n) ________ to store and process its data. (Points : 1)

distribution center

data warehouse

competitive intelligence center

custom research project

marketing research department

Question 5.5. Using ________, some marketing researchers participate in real-life consumer activities to get an understanding of how consumers actually use products. (Points : 1)

mechanical observation

ethnography

focus groups

face-to-face interviews

telephone interviews

Question 6.6. Your text describes the two main primary data collection methods as ________. (Points : 1)

descriptive and exploratory

causal and descriptive

survey and observation

direct and indirect

impersonal and personal

Question 7.7. ________ is the extent to which research actually measures what it was intended to measure. (Points : 1)

Flexibility

Validity

Responsiveness

Reliability

Representativeness

Question 8.8. A ________ sample is a type of probability sample in which a researcher divides the population into segments that relate to the study's topic. (Points : 1)

systematic

convenience

stratified

quota

simple random

Question 9.9. A city hired a research company to survey spring break vacationers to learn about this market. One of the questions asked was, "If you were able to hang out on the beach with any celebrity, who would she or he be?" This type of question is a means for gathering ________. (Points : 1)

qualitative data

ethnographic observations

cross-tabulated data

quantitative data

longitudinal data

Question 10.10. A survey about pet ownership used a sample derived from people who visit a Web site and register. This sample would lack ________ because not everyone has Internet access. (Points : 1)

flexibility

validity

responsiveness

reliability

representativeness

Question 11.11. A sports entertainment company wants to research how Canadians spend their free time. It is preparing a survey that will be used in all of Canada, including the province of Quebec. Unlike Canadians from other provinces, the people of Quebec primarily speak French. The researchers are planning to use English and French versions of the survey. In preparing the surveys, they should use ________. (Points : 1)

back translation

nonprobability sampling

probability sampling

syndicated research

cross-tabulation

Question 1.1.Explain why and how a company would adopt a customer orientation. Use an example in your explanation. (Points : 5)