Bus M&l 650 Exam 1

31 Questions

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Bus Quizzes & Trivia

Questions and Answers
  • 1. 
    Data mining enabled Harrah’s to identify its most profitable customer segment-
    • A. 

      Global high rollers

    • B. 

      Off duty employees

    • C. 

      Betters who lost modest amounts frequently

    • D. 

      The rich and famous

  • 2. 
    The definition of marketing used over and over in class refers to 3 ways of relating to customers that are listed below. Which one of the following, however, is NOT part of that definition.
    • A. 

      Satisfying customers

    • B. 

      Changing customers

    • C. 

      Understanding customers

    • D. 

      Identifying customers

  • 3. 
    Conveniently located vending machines around campus make it easy for you to buy a Coca Cola beverage and a snack between classes. This convenience is a part of the _____________ element of the marketing mix.
    • A. 

      Product

    • B. 

      Place

    • C. 

      Promotion

    • D. 

      Price

  • 4. 
    If an organization makes voluntary exchanges, it is “doing marketing” regardless of whether there is a marketing department, marketing is approved of, etc. To understand this inevitability, we talked about the discovery of _____________.
    • A. 

      America

    • B. 

      Breathing

    • C. 

      Communication media

    • D. 

      Dynamite

  • 5. 
    The manufacturers of consumer goods concentrate on the creation of ______________ utility.
    • A. 

      Advertising

    • B. 

      Form

    • C. 

      Time

    • D. 

      Place

  • 6. 
    The evolution of organizational orientations looks at changes in _______________ over time.
    • A. 

      Marketing definitions

    • B. 

      Buyer behavior

    • C. 

      The way customers have been treated

    • D. 

      Competitive practices

  • 7. 
    The marketing orientation is just about the opposite of the _____________ orientation.
    • A. 

      Production

    • B. 

      Product

    • C. 

      Selling

    • D. 

      Social responsibility

  • 8. 
    Deregulation increases the importance of marketing because it ___________.
    • A. 

      Makes customers harder to satisfy

    • B. 

      Increases costs

    • C. 

      Increases product quality

    • D. 

      Intensifies competition

  • 9. 
    In most organizations, the delivery of daily customer satisfaction depends mainly on ______________.
    • A. 

      Lower level management and their staff

    • B. 

      Middle management

    • C. 

      Top management

    • D. 

      Marketing management

  • 10. 
    “High tech – high touch” is a way to make products more ______________.
    • A. 

      Acceptable

    • B. 

      Predictable

    • C. 

      Flaw-free

    • D. 

      Feasible (possible)

  • 11. 
    For most of the 20th century, the political-legal environment of marketing _______________.
    • A. 

      Saw shifts in the majority position every 20 years or so

    • B. 

      Moved constantly toward deregulation and looser enforcement of existing laws

    • C. 

      Was one that usually favored consumer interests over producer interests

    • D. 

      Had no clear overall patterns

  • 12. 
    The 5 forces model applies to the _____________ environment.
    • A. 

      Social

    • B. 

      Competitive

    • C. 

      Cultural

    • D. 

      Demographic

  • 13. 
    Married couples are now part of about ______% of American households.
    • A. 

      40

    • B. 

      50

    • C. 

      60

    • D. 

      70

  • 14. 
    The class notes included detailed comparisons of the _____________ of Asian, Black, Latino, and White Americans.
    • A. 

      Prejudices

    • B. 

      Shopping behavior

    • C. 

      Cultural preferences

    • D. 

      Demographics

  • 15. 
    Which of the following developments will reduce the spending of current empty nesters?
    • A. 

      The boomerang generation

    • B. 

      Social security financing

    • C. 

      Longer life expectancy

    • D. 

      All of the above

    • E. 

      None of the above

  • 16. 
    “Cynical disdainers” and “Traditional materialists” are 2 subgroups within the _____________ generation that are just about the opposites of each other.
    • A. 

      Over 60

    • B. 

      Baby boomers

    • C. 

      Baby bust

    • D. 

      Baby boom echo

  • 17. 
    We talked about old and new stereotypes applying to the ____________ generation.
    • A. 

      Over 65

    • B. 

      Baby boomers

    • C. 

      Baby bust

    • D. 

      Baby boom echo

  • 18. 
    As discussed in class, the process of ____________ is very selective.
    • A. 

      Motivation

    • B. 

      Perception

    • C. 

      Learning

    • D. 

      Personality development

  • 19. 
    The shift from “either-or” to “multiple choice” is a major change in how ______________affects consumer behavior.
    • A. 

      Social class

    • B. 

      Buzz marketing

    • C. 

      Culture

    • D. 

      Sub-culture

  • 20. 
    The PRIZM system described in class is an example of the influences of _______________ on consumer behavior.
    • A. 

      Social class

    • B. 

      Buzz marketing

    • C. 

      Culture

    • D. 

      Sub-culture

  • 21. 
    Pick out the single FALSE statement about opinion leaders from the following: These people are generally ____________.
    • A. 

      Very brand loyal

    • B. 

      Aware of specialized media

    • C. 

      The same social class as those they influence

    • D. 

      Early adapters

  • 22. 
    In B2B markets demand is _____________.
    • A. 

      Completely rational and information-based

    • B. 

      Price elastic

    • C. 

      Steadier than in consumer markets

    • D. 

      Dependent on demand from customers' customers

  • 23. 
    For what type of organizational customer is price “a special case” with respect to price?
    • A. 

      Producers

    • B. 

      Intermediaries

    • C. 

      Governments

    • D. 

      Institutions

  • 24. 
    In class we focused on __________________.
    • A. 

      The similarities between consumer and B2B markets

    • B. 

      The differences between consumer and B2B markets

    • C. 

      How simple it is to understand business customers and to market to them

    • D. 

      The personal and emotional aspects of B2B buyer behavior

  • 25. 
    Which kind of buying situation involves the most risk?
    • A. 

      Consumer purchases

    • B. 

      B2B new buys

    • C. 

      B2B modified buys

    • D. 

      B2B straight buys

  • 26. 
    Large organizations usually choose the ____________ segmentation strategy.
    • A. 

      Differentiated

    • B. 

      Undifferentiated

    • C. 

      Concentration

    • D. 

      Mass market

  • 27. 
    Of the requirements for segmentation, ______________ is usually the easiest to accomplish.
    • A. 

      Large enough

    • B. 

      Responsive enough

    • C. 

      Can be reached

    • D. 

      Can be measured

  • 28. 
    The 80-20 rule discussed in class is directly related to ___________.
    • A. 

      Benefits sought

    • B. 

      Usage rate

    • C. 

      Loyalty status

    • D. 

      Degree of awareness

  • 29. 
    “Integrating the customer perspective throughout the organization” is an important part of _______________ orientation(s).
    • A. 

      The production

    • B. 

      The product

    • C. 

      The selling

    • D. 

      All of the above

    • E. 

      None of the above

  • 30. 
    Which of the environments has the most immediate impact on marketing?
    • A. 

      Economic

    • B. 

      Technological

    • C. 

      Physical

    • D. 

      Demographic

  • 31. 
    In class we described how time poverty, instant gratification, and life simplification were all related to the _____________-.
    • A. 

      Increasing LFPRMW

    • B. 

      Baby boom

    • C. 

      Majority fallacy

    • D. 

      Age structure of the population