Do You Think You Can Excel General Knowledge Test! Quiz

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| Attempts: 478

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1/56 Questions

Utility
- Benefits or customer value recieved by user of the product
- Manufactures, wholesalers, retailers, Gov'ts that buy goods and service for their own
- People who se the good or service from a household
- To colllect and use information about customers

About This Quiz

Test your knowledge in strategic marketing with this engaging quiz! Assess your understanding of key concepts like SWOT analysis, target markets, and more, ensuring you're prepared for both academic and professional challenges in the marketing field.

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2.

Ultimate Consumer
- Benefits or customer value recieved by user of the product
- People who se the good or service from a household
- Manufactures, wholesalers, retailers, Gov'ts that buy goods and service for their own use
- To colllect and use information about customers
Correct Answer

A. People who se the good or service from a household

Explanation

The correct answer is "people who use the good or service from a household." This refers to the individuals who directly consume or utilize the product or service within their own homes. These consumers are the ultimate end-users and derive the benefits or customer value from the product.

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3.

Target Market is ?
- Trade of money for goods and services
- Specific potential customers which organizations direct marketing towards
- Activity for creating and delivering offerings that benefit the organization and its stockholders, and society.
- Marketing managers controllable factors; Product, Price, Promotion, Place
Correct Answer

A. Specific potential customers which organizations direct marketing towards

Explanation

The correct answer is "specific potential customers which organizations direct marketing towards." This answer accurately defines the term "target market" as a specific group of potential customers that a company focuses its marketing efforts on. By identifying and understanding their target market, organizations can tailor their marketing strategies and messages to effectively reach and appeal to these specific customers, increasing the chances of success in selling their goods or services.

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1
4.

SWOT anlysis
- Characteristics of a product that make it superior to competitive substitutes
- Detailed day to day operational decsions essential to overall success of marketing strategies
- Sorting potential buyers into groups with common needs and that will respond similarly
- Organiaztional appraisel fo its internal strengths and weaknessess and its external opportunities and threats
Correct Answer

A. Organiaztional appraisel fo its internal strengths and weaknessess and its external opportunities and threats

Explanation

The answer is "organizational appraisal of its internal strengths and weaknesses and its external opportunities and threats." This is because SWOT analysis is a strategic planning tool used to evaluate an organization's internal strengths and weaknesses, as well as external opportunities and threats. It helps organizations identify areas where they have a competitive advantage and areas where they may need to improve. By conducting a SWOT analysis, organizations can make informed decisions and develop effective strategies to achieve their goals.

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5.

Strategic Marketing Process
- Organization allocates its marketing mix resources to reach its target markets
- Where a frrim or porduct has been recently , wher it is now, and where it is headed
- Visual display or essential marketing information
- Measure of value or trend of marketing activity or result
Correct Answer

A. Organization allocates its marketing mix resources to reach its target markets

Explanation

The answer suggests that the strategic marketing process involves the allocation of marketing mix resources by an organization in order to reach its target markets. This implies that the organization carefully plans and decides how to distribute its resources such as product, price, promotion, and place to effectively reach and engage with its intended customers. By doing so, the organization aims to understand and address the current and future needs and preferences of its target markets, ultimately leading to the achievement of its marketing objectives.

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6.

Societal Marketing Concept
- Orgainzation should satisfy consumer needs in a way that provides for society's well being
- Idea that organization should stive to satisfy needs of consumers while achieving their goals
- To colllect and use information about customers
- People who use the good or service from a household
Correct Answer

A. Orgainzation should satisfy consumer needs in a way that provides for society's well being

Explanation

The correct answer is "organization should satisfy consumer needs in a way that provides for society's well being." This concept emphasizes that organizations should not only focus on meeting the needs and wants of consumers but also take into consideration the broader impact on society. It suggests that businesses should strive to create products or services that benefit society as a whole, rather than solely focusing on their own goals and profits. This approach takes into account the social, environmental, and ethical implications of business decisions, aiming for a more sustainable and responsible approach to marketing.

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7.

Situation Analysis
- Where a frrim or porduct has been recently , wher it is now, and where it is headed
- Visual display or essential marketing information
- Measure of value or trend of marketing activity or result
- Organiaztional appraisel fo its internal strengths and weaknessess and its external opportunities and threats
Correct Answer

A. Where a frrim or porduct has been recently , wher it is now, and where it is headed

Explanation

The answer provided correctly defines situation analysis as the evaluation of a firm or product's past, present, and future position. It involves assessing the current state of the company or product, understanding its historical performance, and predicting its future direction. This analysis helps in making informed decisions and developing effective marketing strategies based on the understanding of the market trends and the organization's strengths, weaknesses, opportunities, and threats.

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8.

Relationship Marketing ?
- Idea that an organizatin should strive to satisfy needs of consumers while achiebing their goals
- Linking organization to its individual customers, employees, suppliers and other parties
- Plan that integrates the marketing mix to provide a good serivde or idea to buyers
- Buyers benefits; quality, convience, on-time delivery
Correct Answer

A. Linking organization to its individual customers, employees, suppliers and other parties

Explanation

Relationship marketing refers to the strategy of establishing and maintaining strong connections between the organization and its various stakeholders, including customers, employees, suppliers, and other parties. This approach recognizes the importance of building long-term relationships with these individuals, rather than solely focusing on transactional interactions. By fostering these relationships, organizations can enhance customer satisfaction, loyalty, and trust, leading to mutual benefits for both parties involved. This answer accurately reflects the concept of relationship marketing by highlighting the significance of linking the organization to its individual stakeholders.

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9.

Points of Difference
- Detailed day to day operational decsions essential to overall success of marketing strategies
- Characteristics of a product that make it superior to competitive substitutes
- Organiaztional appraisel fo its internal strengths and weaknessess and its external opportunities and threats
- Sorting potential buyers into groups with common needs and that will respond similarly
Correct Answer

A. Characteristics of a product that make it superior to competitive substitutes

Explanation

The answer "characteristics of a product that make it superior to competitive substitutes" refers to the points of difference that set a product apart from its competitors. These characteristics could include unique features, higher quality, better performance, lower price, or any other attribute that gives the product an advantage over similar offerings in the market. By highlighting these points of difference, a company can effectively differentiate its product and attract customers who value these superior characteristics.

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10.

Organizational Culture
- Ratio of firms sales to the total sales fo all firms in the industry
- The fundamental passionate and enduring pricipals that guide an organization
- Statement of vistion of an organizations function in society
- Values, ideas, attitudes & behavioral norms learned & shared among members of a group
Correct Answer

A. Values, ideas, attitudes & behavioral norms learned & shared among members of a group

Explanation

The correct answer is "values, ideas, attitudes & behavioral norms learned & shared among members of a group". This answer accurately describes organizational culture as the shared beliefs, values, and behaviors that guide the actions of individuals within an organization. It highlights the importance of these cultural elements being learned and shared among members of the group, emphasizing the collective nature of organizational culture.

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11.

Organizational Buyers
- To colllect and use information about customers
- People who se the good or service from a household
- Benefits or customer value recieved by user of the product
- Manufactures, wholesalers, retailers, Gov'ts that buy goods and service for their own
Correct Answer

A. Manufactures, wholesalers, retailers, Gov'ts that buy goods and service for their own

Explanation

The correct answer is organizational buyers. Organizational buyers are entities such as manufacturers, wholesalers, retailers, and governments that purchase goods and services for their own use. They are distinct from individual consumers or households who use the goods or services.

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12.

Mission
- Statement of vistion of an organizations function in society
- The fundamental passionate and enduring pricipals that guide an organization
- Ratio of firms sales to the total sales fo all firms in the industry
- Visual display or essential marketing information
Correct Answer

A. Statement of vistion of an organizations function in society

Explanation

The correct answer is "statement of vision of an organization's function in society." A mission statement is a concise declaration of an organization's purpose and the reason for its existence. It outlines the organization's goals, values, and overall direction. It expresses the organization's vision for its role and impact in society, highlighting its intended function and contribution. A mission statement helps to guide decision-making, shape strategies, and align actions with the organization's purpose. It serves as a powerful tool for communicating the organization's identity and aspirations to stakeholders, including employees, customers, and the wider community.

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13.

Marketing Tactics
- Characteristics of a product that make it superior to competitive substitutes
- Organiaztional appraisel fo its internal strengths and weaknessess and its external opportunities and threats
- Sorting potential buyers into groups with common needs and that will respond similarly
- Detailed day to day operational decsions essential to overall success of marketing strategies
Correct Answer

A. Detailed day to day operational decsions essential to overall success of marketing strategies

Explanation

The answer "detailed day to day operational decisions essential to overall success of marketing strategies" is the correct answer because it accurately describes the concept of marketing tactics. Marketing tactics refer to the specific actions and decisions that are taken on a daily basis to implement the overall marketing strategies of a company. These decisions can include activities such as pricing, advertising, promotions, product placement, and distribution, among others. The successful execution of these tactical decisions is crucial for achieving the desired marketing objectives and overall success in the market.

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14.

Marketing Strategy
- Sorting potential buyers into groups with common needs and that will respond similarly
- Detailed day to day operational decsions essential to overall success of marketing strategies
- Means by which marketing goals is to be achieved
- Organiaztional appraisel fo its internal strengths and weaknessess and its external opportunities and threats
Correct Answer

A. Means by which marketing goals is to be achieved

Explanation

The correct answer means by which marketing goals is to be achieved is the most accurate explanation because it directly relates to the concept of marketing strategy. A marketing strategy is a plan or approach that outlines how a company will reach its marketing goals. It involves determining the target market, identifying their needs, and developing tactics to effectively reach and persuade them. Therefore, the means by which marketing goals are achieved is a fundamental aspect of marketing strategy.

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15.

Marketing Program ?
- Buyers benefits; quality, convience, on-time delivery
- Plan that integrates the marketing mix to provide a good serivde or idea to buyers
- Idea that organization should stive to satisfy needs of consumers while achieving their goals
- To collect and us information about customers
Correct Answer

A. Plan that integrates the marketing mix to provide a good serivde or idea to buyers

Explanation

The correct answer is "plan that integrates the marketing mix to provide a good service or idea to buyers." This answer accurately describes a marketing program as a strategic plan that combines various elements of the marketing mix (product, price, place, and promotion) to effectively deliver a product or service to customers. It emphasizes the importance of integrating these elements to meet the needs and wants of consumers while achieving the organization's goals.

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16.

Marketing Plan
- Road map for the marketing activities of an organizatino for a specified future time period
- Measure of value or trend of marketing activity or result
- Where a frrim or porduct has been recently , wher it is now, and where it is headed
- Visual display or essential marketing information
Correct Answer

A. Road map for the marketing activities of an organizatino for a specified future time period

Explanation

The correct answer is "road map for the marketing activities of an organization for a specified future time period." This explanation accurately describes a marketing plan as a strategic document that outlines the specific marketing activities that an organization will undertake in the future. It emphasizes the planning aspect of a marketing plan, highlighting that it serves as a roadmap to guide the organization's marketing efforts and achieve its objectives within a defined timeframe.

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17.

Marketing Mix is ?
- Uncontrollable social, economic, techonological, competitive, tegulatory forces
- Activity for creating and delivering offerings that benefit the organization and its stockholders, and society.
- Buyers benefits; quality, convience, on-time delivery
- Marketing managers controllable factors; Product, Price, Promotion, Place
Correct Answer

A. Marketing managers controllable factors; Product, Price, Promotion, Place

Explanation

The correct answer is "marketing managers controllable factors; Product, Price, Promotion, Place". This answer accurately identifies the components of the marketing mix that are under the control of marketing managers. These four factors, also known as the 4Ps, refer to the decisions and strategies that marketers can manipulate to create and deliver offerings that benefit the organization, its stockholders, and society. Product refers to the physical or intangible goods or services being offered, price refers to the amount customers pay for the product, promotion refers to the communication and marketing activities used to promote the product, and place refers to the distribution channels and locations where the product is made available to customers.

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18.

Marketing Metric
- Where a frrim or porduct has been recently , wher it is now, and where it is headed
- Visual display or essential marketing information
- Measure of value or trend of marketing activity or result
- Organiaztional appraisel fo its internal strengths and weaknessess and its external opportunities and threats
Correct Answer

A. Measure of value or trend of marketing activity or result

Explanation

The correct answer is "measure of value or trend of marketing activity or result." This answer aligns with the definition of a marketing metric, which is a quantifiable measure used to track and assess the performance and effectiveness of marketing efforts. It helps to evaluate the value generated by marketing activities and monitor trends in marketing results over time. This explanation is based on the understanding that a marketing metric is a tool used to measure and analyze marketing performance.

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19.

Marketing is ?
- Activity for creating and delivering offerings that benefit the organization and its stockholders, and society.
- People with the desire and ability to buy a speciefic offering
- Specific potential customers which organizations direct marketing towards
- Marketing managers controllable factors; Product, Price, Promotion, Place
Correct Answer

A. Activity for creating and delivering offerings that benefit the organization and its stockholders, and society.

Explanation

The correct answer is "activity for creating and delivering offerings that benefit the organization and its stockholders, and society." This answer accurately describes marketing as a process that involves creating and delivering products or services that provide value to both the organization and its stakeholders, as well as society as a whole. Marketing involves various activities such as market research, product development, pricing, promotion, and distribution, all aimed at satisfying customer needs and generating profits for the organization.

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20.

Marketing Concept ?
- Idea that organization should stive to satisfy needs of consumers while achieving their goals
- To colllect and use information about customers
- Orgainzation should satisfy consumer needs in a way that provides for society's well being
- People who use the good or service from a household
Correct Answer

A. Idea that organization should stive to satisfy needs of consumers while achieving their goals

Explanation

The marketing concept refers to the idea that organizations should strive to satisfy the needs of consumers while also achieving their own goals. This means that businesses should focus on understanding and meeting the needs and wants of their target market, rather than solely focusing on their own objectives. By doing so, organizations can build strong customer relationships, increase customer satisfaction, and ultimately drive business success. Additionally, the marketing concept emphasizes the importance of considering society's well-being, suggesting that organizations should provide value to customers in a way that is socially responsible and beneficial for all parties involved.

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21.

Market Share
- The fundamental passionate and enduring pricipals that guide an organization
- Statement of vistion of an organizations function in society
- Ratio of firms sales to the total sales fo all firms in the industry
- Visual display or essential marketing information
Correct Answer

A. Ratio of firms sales to the total sales fo all firms in the industry

Explanation

The correct answer is "ratio of firm's sales to the total sales of all firms in the industry." Market share refers to the portion or percentage of total sales that a company has in relation to the total sales of all companies operating in the same industry. It is a measure of a company's competitiveness and market position. By calculating market share, businesses can assess their performance and compare it to their competitors. A higher market share indicates a larger customer base and a stronger presence in the market.

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22.

Market Segmentation
- Organiaztional appraisel fo its internal strengths and weaknessess and its external opportunities and threats
- Detailed day to day operational decsions essential to overall success of marketing strategies
- Sorting potential buyers into groups with common needs and that will respond similarly
- Characteristics of a product that make it superior to competitive substitutes
Correct Answer

A. Sorting potential buyers into groups with common needs and that will respond similarly

Explanation

Market segmentation is the practice of dividing potential buyers into groups based on their common needs and similar responses. This allows businesses to better understand their target audience and tailor their marketing strategies to meet the specific needs and preferences of each segment. By sorting buyers into these groups, businesses can create more effective marketing campaigns and improve the overall success of their strategies. This approach helps businesses to better allocate their resources and focus on the specific needs of each segment, ultimately leading to higher customer satisfaction and increased sales.

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23.

Market Orientation ?
- People who use the good or service from a household
- Orgainzation should satisfy consumer needs in a way that provides for society's well being
- Idea that organization should stive to satisfy needs of consumers while achieving their goals
- To colllect and use information about customers
Correct Answer

A. To colllect and use information about customers

Explanation

Market orientation refers to the approach taken by an organization to satisfy the needs and wants of consumers while also achieving its own goals. This involves collecting and using information about customers to understand their preferences, behaviors, and needs. By gathering data on customers, organizations can tailor their products or services to better meet consumer demands, ultimately leading to customer satisfaction and societal well-being.

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24.

Market is ?
- Trade of money for goods and services
- Activity for creating and delivering offerings that benefit the organization and its stockholders, and society.
- People with desire and ability to buy a specific offering
- Activity for creating and delivering offerings that benefit the organization and its stockholders, and society.
Correct Answer

A. People with desire and ability to buy a specific offering

Explanation

The correct answer is "people with desire and ability to buy a specific offering". This answer accurately defines the market as the group of individuals who have both the desire and the ability to purchase a particular product or service. It highlights the importance of identifying and targeting this specific group in order to effectively sell and distribute offerings.

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25.

Market Dashboard
- Characteristics of a product that make it superior to competitive substitutes
- Where a frrim or porduct has been recently , wher it is now, and where it is headed
- Measure of value or trend of marketing activity or result
- Visual display or essential marketing information
Correct Answer

A. Visual display or essential marketing information

Explanation

The answer "visual display or essential marketing information" is the correct answer because a market dashboard is a tool that provides a visual display of essential marketing information. It allows businesses to see where they have been, where they are currently, and where they are headed in terms of their marketing activities and results. By presenting key metrics and data in a visually appealing format, a market dashboard helps businesses make informed decisions and track the effectiveness of their marketing strategies.

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26.

Goals
- Statement of vistion of an organizations function in society
- Targets of performance to be achieved
- The fundamental passionate and enduring pricipals that guide an organization
- Ratio of firms sales to the total sales fo all firms in the industry
Correct Answer

A. Targets of performance to be achieved

Explanation

The correct answer is "targets of performance to be achieved". Goals refer to the specific objectives or targets that an organization aims to accomplish. These goals can be related to various aspects such as sales, profitability, market share, customer satisfaction, etc. They provide a clear direction and focus for the organization and help in measuring its performance and success.

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27.

Exchange is ?
- Trade of money for goods and services
- Activity for creating and delivering offerings that benefit the organization and its stockholders, and society.
- Trade of things of value between buyers and sellers
Correct Answer

A. Trade of things of value between buyers and sellers

Explanation

The correct answer is "trade of things of value between buyers and sellers." This answer accurately describes exchange as the process of trading items or services that hold value between individuals or entities who are willing to buy or sell. It encompasses the concept of exchanging goods, services, or even currency in a transactional manner.

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28.

Environmental Forces ?
- Linking organization to its individual customers, employees, suppliers and other parties
- Marketing managers controllable factors; Product, Price, Promotion, Place
- Uncontrollable social, economic, techonological, competitive, tegulatory forces
- Activity for creating and delivering offerings that benefit the organization and its stockholders, and society.
Correct Answer

A. Uncontrollable social, economic, techonological, competitive, tegulatory forces

Explanation

The correct answer is uncontrollable social, economic, technological, competitive, regulatory forces. This answer aligns with the concept of environmental forces, which are external factors that affect an organization and are beyond the control of marketing managers. These forces include social trends, economic conditions, technological advancements, competitive pressures, and regulatory policies. They can have a significant impact on the organization's marketing strategies and success.

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29.

Customer Value ?
- Buyers benefits; quality, convience, on-time delivery
- Activity for creating and delivering offerings that benefit the organization and its stockholders, and society.
- Linking organization to its individual customers, employees, suppliers and other parties
- Uncontrollable social, economic, techonological, competitive, tegulatory forces
Correct Answer

A. Buyers benefits; quality, convience, on-time delivery

Explanation

This answer is correct because customer value refers to the benefits that buyers receive from a product or service. These benefits can include factors such as quality, convenience, and on-time delivery. By focusing on providing these benefits to customers, organizations can create and deliver offerings that benefit both the organization and its stockholders, as well as society as a whole. Additionally, customer value is important for linking the organization to its individual customers, employees, suppliers, and other parties. It helps to establish strong relationships and meet the needs and expectations of all stakeholders.

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30.

Core Values
- Statement of vistion of an organizations function in society
- Ratio of firms sales to the total sales fo all firms in the industry
- The fundamental passionate and enduring pricipals that guide an organization
- Visual display or essential marketing information
Correct Answer

A. The fundamental passionate and enduring pricipals that guide an organization

Explanation

The core values of an organization refer to the fundamental principles that guide and shape its actions and decisions. These values are deeply rooted in the organization's culture and reflect its beliefs, ethics, and priorities. They serve as a compass, directing the behavior and choices of employees and leaders, and are enduring in nature, remaining consistent over time. Core values are essential for establishing the organization's identity, building trust with stakeholders, and driving its mission and vision.

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31.

Environmental Scanning
- Children born between 1946-1964
- Demopraphic charactereistics of the populationh and its values
- Description of population by age, gender, ethnicity, income and occupations
- Acquiring information on events outside the organization to interperet potential trends
Correct Answer

A. Acquiring information on events outside the organization to interperet potential trends

Explanation

Environmental scanning refers to the process of gathering information about events and trends outside the organization that could potentially impact its operations. This includes acquiring information about the demographic characteristics of the population and its values, such as age, gender, ethnicity, income, and occupations. By understanding these factors, organizations can interpret potential trends and make informed decisions about their strategies and operations.

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32.

Social forces
- Acquiring information on events outside the organization to interperet potential trends
- Description of population by age, gender, ethnicity, income and occupations
- Demopraphic charactereistics of the populationh and its values
- Children born between 1946-1964
Correct Answer

A. Demopraphic charactereistics of the populationh and its values

Explanation

The answer refers to demographic characteristics of the population and its values. This involves understanding the various traits and attributes of a population, such as age, gender, ethnicity, income, and occupations. By studying these demographic characteristics, organizations can gain insights into the preferences, needs, and behaviors of different segments of the population. Additionally, understanding the values held by a population can help organizations tailor their products, services, and marketing strategies to better resonate with their target audience.

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1
33.

Demographics
- Children born between 1946-1964
- Demopraphic charactereistics of the populationh and its values
- Description of population by age, gender, ethnicity, income and occupations
- Acquiring information on events outside the organization to interperet potential trends
Correct Answer

A. Demopraphic charactereistics of the populationh and its values

Explanation

The correct answer is "demographic characteristics of the population and its values." This refers to the description of a population based on factors such as age, gender, ethnicity, income, and occupations. Understanding these demographic characteristics helps in analyzing and interpreting the population's behavior, preferences, and values. By studying these factors, organizations can gain insights into their target audience and make informed decisions regarding marketing strategies, product development, and resource allocation. Additionally, monitoring demographic trends can help identify potential opportunities or challenges that may arise in the future.

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34.

Demographics
- Description of population by age, gender, ethnicity, income and occupations
- Acquiring information on events outside the organization to interperet potential trends
- Demopraphic charactereistics of the populationh and its values
- Children born between 1946-1964
Correct Answer

A. Description of population by age, gender, ethnicity, income and occupations

Explanation

The answer is "description of population by age, gender, ethnicity, income, and occupations" because demographics refers to the study and analysis of the characteristics of a population. These characteristics include age, gender, ethnicity, income, and occupations, among others. By understanding these demographic factors, organizations can gain insights into the preferences, needs, and behaviors of different groups within the population, which can help them make informed decisions and tailor their products or services accordingly.

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35.

Baby boomers
- Acquiring information on events outside the organization to interperet potential trends
- Demopraphic charactereistics of the populationh and its
- Description of population by age, gender, ethnicity, income and occupations
- Children born between 1946-1964
Correct Answer

A. Children born between 1946-1964

Explanation

The correct answer is "children born between 1946-1964." Baby boomers refers to the generation of individuals who were born between the years 1946 and 1964. This generation is characterized by a significant increase in birth rates following World War II. They are often associated with certain demographic characteristics such as age, gender, ethnicity, income, and occupations. Baby boomers are known for their impact on various aspects of society, including their influence on trends and their acquisition of information on events outside the organization.

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36.

Generation X
- 1977-1994
- 1946-1964
- 1965-1976
- 1994-2010
Correct Answer

A. 1965-1976

Explanation

The given answer, 1965-1976, represents the birth years of Generation X. This generation is typically defined as individuals born between the mid-1960s and the late 1970s. They were born during a time of social and political change, and grew up witnessing events such as the Vietnam War, the Watergate scandal, and the rise of technology. Generation X is often characterized as independent, adaptable, and pragmatic, and they have experienced significant shifts in technology and culture throughout their lives.

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37.

Generation Y
- 1994-2010
- 1977-1994
- 1965-1976
- 1946-1975
Correct Answer

A. 1977-1994

Explanation

The given answer, 1977-1994, represents the birth years of Generation Y, also known as Millennials. This generation is generally characterized as individuals who were born and came of age during the late 20th century and early 21st century. They witnessed the rise of technology and the internet, and are often described as tech-savvy, adaptable, and socially conscious. This age range aligns with the commonly accepted definition of Generation Y, making it the correct answer.

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38.

Multicultural Marketing
- Marketing programs that reflect unique aspects of different races
- Set of values, ideas, and attitudes learned and shared among memebers of a group
- Inventions from applied sceince or engineering research
- Income, expidentrues, and resources that affect the cost of running a business or household
Correct Answer

A. Marketing programs that reflect unique aspects of different races

Explanation

The correct answer is "Marketing programs that reflect unique aspects of different races." This means that multicultural marketing involves creating marketing campaigns and strategies that specifically target and appeal to different racial and ethnic groups. It recognizes and embraces the diversity of these groups and tailors marketing messages, products, and services to their specific cultural preferences and needs. This approach aims to connect with and engage a wider range of consumers, ultimately driving business growth and success.

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39.

Culture
- Marketing programs that reflect unique aspects of different races
- Inventions from applied sceince or engineering research
- Set of values, ideas, and attitudes learned and shared among memebers of a group
- Income, expidentrues, and resources that affect the cost of running a business or household
Correct Answer

A. Set of values, ideas, and attitudes learned and shared among memebers of a group

Explanation

The correct answer is "set of values, ideas, and attitudes learned and shared among members of a group." This option best defines culture as it encompasses the beliefs, customs, traditions, and behaviors that are passed down and shared within a specific group of people. It includes the way people think, the values they hold, and the norms they follow. Culture plays a significant role in shaping individuals' behaviors and perceptions, influencing their decisions and interactions within society.

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40.

Economy
- Marketing programs that reflect unique aspects of different races
- Set of values, ideas, and attitudes learned and shared among memebers of a group
- Inventions from applied sceince or engineering research
- Income, expidentrues, and resources that affect the cost of running a business or household
Correct Answer

A. Income, expidentrues, and resources that affect the cost of running a business or household

Explanation

The correct answer is "income, expenditures, and resources that affect the cost of running a business or household." This answer accurately describes the concept of economy, which involves the financial aspects of managing and sustaining a business or household. It encompasses factors such as income, expenses, and resources that impact the overall cost and financial stability of an entity.

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41.

Technology
- Inventions from applied sceince or engineering research
- Set of values, ideas, and attitudes learned and shared among memebers of a group
- Income, expidentrues, and resources that affect the cost of running a business or household
- Marketing programs that reflect unique aspects of different races
Correct Answer

A. Inventions from applied sceince or engineering research

Explanation

The correct answer is "inventions from applied science or engineering research". This answer accurately describes technology as the result of scientific and engineering advancements. Technology refers to the practical application of knowledge to create new tools, machines, systems, or processes that improve our lives and solve problems. It involves the development and implementation of innovative ideas and discoveries made through scientific research and engineering.

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42.

Marketspace
- Restrictions state and federal laws place on a buisness
- Alternative firms that could provide a product to satisfy a specific markets needs
- Information and communiacatino base electronic exchange
- Movement started to increase the influence,rights, and power of consumersmovement started to increase the
Correct Answer

A. Information and communiacatino base electronic exchange

Explanation

The correct answer is "Information and communication based electronic exchange." This refers to the concept of marketspace, which is a virtual market where buyers and sellers can exchange goods and services electronically. It involves the use of technology to facilitate communication, transactions, and information sharing between businesses and consumers. This can include online platforms, websites, social media, and other digital channels that enable businesses to reach a wider audience and provide convenient access to products and services.

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43.

Competition
- Restrictions state and federal laws place on a buisness
- Information and communiacatino base electronic exchange
- Alternative firms that could provide a product to satisfy a specific markets needs
- Movement started to increase the influence,rights, and power of consumersmovement started to increase the
Correct Answer

A. Alternative firms that could provide a product to satisfy a specific markets needs

Explanation

The correct answer is "alternative firms that could provide a product to satisfy a specific market's needs." This answer is supported by the context of the question, which mentions "competition" and "restrictions state and federal laws place on a business." In a competitive market, alternative firms play a crucial role in providing products that meet the needs and demands of consumers. These firms offer choices and options for consumers to consider, creating competition and driving innovation in the market. Additionally, restrictions and laws can also influence the presence and behavior of alternative firms in the market.

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44.

Regualtion
- Restrictions state and federal laws place on a buisness
- Alternative firms that could provide a product to satisfy a specific markets needs
- Movement started to increase the influence,rights, and power of consumersmovement started to increase the
- Information and communiacatino base electronic exchange
Correct Answer

A. Restrictions state and federal laws place on a buisness

Explanation

The correct answer is "restrictions state and federal laws place on a business." This answer accurately describes regulations as the limitations and rules imposed by government authorities on businesses. These regulations are put in place to ensure fair competition, protect consumers, and maintain the overall integrity of the market. Compliance with these regulations is crucial for businesses to operate legally and ethically.

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45.

Consumerism
- Restrictions state and federal laws place on a buisness
- Information and communiacatino base electronic exchange
- Alternative firms that could provide a product to satisfy a specific markets needs
- Movement started to increase the influence,rights, and power of consumersmovement started to increase the
Correct Answer

A. Movement started to increase the influence,rights, and power of consumersmovement started to increase the
46.

Self Regulation
- Moral principles and values that govern the actions and decsions of an individual or group
- Information and communiacatino base electronic exchange
- Movement started to increase the influence,rights, and power of consumersmovement started to increase the
- Alternative to Gov't control where an industry attempts to police itself
Correct Answer

A. Alternative to Gov't control where an industry attempts to police itself

Explanation

The correct answer is "alternative to Gov't control where an industry attempts to police itself." This answer accurately describes self-regulation as a method used by industries to regulate their own actions and decisions without government intervention. It implies that the industry takes responsibility for setting and enforcing its own rules and standards, aiming to maintain ethical practices and ensure consumer protection.

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47.

Ethics
- Moral principles and values that govern the actions and decsions of an individual or group
- Movement started to increase the influence,rights, and power of consumersmovement started to increase the
- Alternative to Gov't control where an industry attempts to police itself
- Information and communiacatino base electronic exchange
Correct Answer

A. Moral principles and values that govern the actions and decsions of an individual or group

Explanation

The correct answer is "moral principles and values that govern the actions and decisions of an individual or group." This definition accurately describes ethics as a set of guidelines that determine what is right and wrong in terms of behavior and decision-making. Ethics play a crucial role in guiding individuals and groups to make moral choices and act responsibly in various situations.

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48.

Laws
- Moral principles and values that govern the actions and decsions of an individual or group
- Held in court if they are broken
- Societys standards and values that are enforceable in the courts
- Alternative to Gov't control where an industry attempts to police itself
Correct Answer

A. Societys standards and values that are enforceable in the courts

Explanation

The correct answer explains that laws are society's standards and values that are enforceable in the courts. This means that laws are not just moral principles and values that govern the actions and decisions of individuals or groups, but they are also held in court if they are broken. Additionally, laws are not an alternative to government control, but rather a means by which society maintains order and enforces its values through the legal system.

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49.

Consumer Bill of Rights
- Codified ethics of exchange between buyers and sellers
- "greatest good for the greatest number"
- Formal statement of ethical principals and rules of conduct
- Philosophy considers certain individual rights or duties as universal
Correct Answer

A. Codified ethics of exchange between buyers and sellers

Explanation

The Consumer Bill of Rights is a formal statement that outlines the ethical principles and rules of conduct that should govern the exchange between buyers and sellers. It serves as a codification of these ethics, ensuring that both parties are treated fairly and that their rights are protected. The philosophy behind the Consumer Bill of Rights is based on the idea of achieving the "greatest good for the greatest number," meaning that it aims to promote the well-being of the majority of consumers by establishing universal rights and duties.

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Sep 22, 2010

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