Bus M&l 650 Exam 1
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- 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
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