ACC 202
1
What data analysis type is being used here? When Sam thought about opening a foreign car repair shop in Phoenix, he researched all of the firms in the area before deciding on a location. He also analyzed their capabilities and found articles about many of them in terms of their capabilities, strengths, and weaknesses.
- Secondary data
- Primary data
- Licensed information
- Tertiary information
2
Marketing is considered both an art and a science. How do the 4Ps, or marketing mix, help us bridge the gap between art and science?
- Marketing focuses on sales as the primary goal.
- Marketing balances the need for data with that of creativity.
- Marketing is about advertising.
- Marketing is involved with price as the major factor.
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3
Which of the following statements demonstrates behavioral loyalty towards a brand?
- My friends agree Myfavorite Laundry detergent is the best.
- Myfavorite Laundry detergent is so easy to use.
- Myfavorite Laundry detergent smells good.
- I always buy Myfavorite Laundry detergent when purchasing laundry detergent.
4
By 2015, projections indicate that the largest category of households will be composed of
- childless married couples and empty nesters
- married couples with children
- single-parent families
- singles living with nonrelatives
5
One of the most critical steps in the defining process of market research is
- reading marketing research journals
- defining the problem, the decision alternatives, and research objectives
- analyzing the internal environment
- developing a research plan
6
Which of the following is correct about marketing management?
- It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services.
- It focuses mostly on monitoring the profitability of a company's products and services.
- It is defined as the field that deals with planning and managing a business at the highest level of corporate organization.
- It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.
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7
In the U.S., consumer expenditures on homes and other large purchases tend to slow down during a recession because
- of stringent credit policies adopted by the Fed before the onset of recession
- the consumers have a high debt-to-income ratio
- of steady supply of loanable funds in the economy during recession
- consumer borrowing increases during recession
8
Which of the following elements of sociocultural environment can be associated with the growing demand for social surrogates like social networking sites, television, and so on?
- Views of ourselves
- Views of nature
- Views of others
- Views of organizations
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9
Wabash Bank would like to understand if there is a relationship between the advertising or promotion it does and the number of new customers the bank gets each quarter. What type of research is this an example of?
- Causal
- Exploratory
- Secondary
- Qualitative
10
Which strategy does this exemplify? Kayak and Orbitz provide their customers with a variety of travel options including flight reservations, vacation packages, flight and hotel options with or without car rentals, and cruise offerings.
- Focus
- Diversification
- Differentiation
- Promotional
11
Which of the following industries is most likely to use database marketing?
- A supermarket chain
- A local restaurant
- A physician’s office
- A school system
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12
Which market do customers who have purchased and are driving Audi automobiles represent?
- Potential market
- Available market
- Target market
- Penetrated market
13
When Apple introduced iTunes, a new market was opened. Which of the following describes this type of innovation?
- Presence
- Operational excellence
- Value chain
- Value capture
14
The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n)
- service
- event
- place
- idea
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15
How does the market demand curve change (as a function of marketing expenditure) during recession?
- Shifts upward
- Becomes vertical
- Remains unaffected
- Shifts downward
16
A company's sales potential would be equal to market potential when which situations exists?
- The marketing expenditure of the company is reduced to zero.
- The company gets 100 percent share of the market.
- Industry marketing expenditures approach infinity for a given marketing environment.
- The market is nonexpandable.
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17
During the holidays, companies often provide gifts to customers. The more a client spends, the larger the gift, usually. To segment customers in this way, for what purpose is this data being mined?
- To deepen customer loyalty
- To beat the competition to a sale
- To avoid serious customer mistakes
- To decide which customers should receive a new sales offer
18
Costco is able to keep its inventory expenditure relatively low through its management technology and cutting-edge point-of-sale inventory management technology. As a result, Costco is able to pass these savings on to consumers in the form of low prices. This strategy is best described as
- market development
- integrative growth
- overall cost leadership
- differentiation
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This article covers the topic for the University Of Phoenix .MKT 571 Week 1 Quiz The author is working in the field of education from last 5 years. This article covers the basic of from UOP.MKT 571 Complete Assignment Other topics in the class are as follows:
MKT 571 Week 1 Quiz
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MKT 571 Week 6 Final Exam
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