Devry Busn319 Week 2 Quiz Latest 2016 Question 1 Tco 3m Inventor

Devry BUSN319 Week 2 Quiz Latest 2016
Question 1. Question :
(TCO 1) 3M inventor David Windorski’s challenge was to design new products for college students. The first step in solving this challenge was to
satisfy students’ studying needs.
advertise the new products he had invented.
use word of mouth to tell college students about his ideas.
discover students’ studying needs.
ask 3M to support him while he pursued his new ideas.
Question 2. Question :
(TCO 1) A student would like to buy a sports car from the local dealer, but she cannot afford one. Marketing does not occur in this situation because
two or more parties have unsatisfied needs.
there is no desire on the part of either party to satisfy its needs.
one of the involved parties does not have the ability to satisfy its needs.
there is no way for each party to communicate with one another.
there has been no assessment of consumer wants and needs.
Question 3. Question :
(TCO 1) The first objective in marketing is to discover consumer
ability to pay.
Question 4. Question :
(TCO 6) Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of cheese.Some versions contain Capri Sun drinks. Others are called Cracker Stackers and Fun Fuel. The box is bright yellow and the quantity of food contained within is small. The target market for Kraft Lunchables is most likely
moms of school-age children.
business people looking for a quick snack.
business travelers.
Question 5. Question :
(TCO 6) The four Ps are commonly known as
the environmental or uncontrollable factors.
the environmental or controllable factors.
the marketing mix or controllable factors.
the marketing mix or uncontrollable factors.
product, price, promotion, and process.
Question 6. Question :
(TCO 1) Profit is
the point at which company assets equal company liabilities.
the reward to a business firm for the risk it undertakes in marketing its offerings.
the goodwill earned from implementing the societal marketing concept.
the money earned when the economic order quantity is maintained.
accurately described by all of the above.
Question 7. Question :
(TCO 1) Which of the following statements about the strategic business unit level is most true?
It is the level that works most directly with the targeted customers.
The overall strategy for the organization is directed at the strategic business unit level.
In more complex organizations, the corporate level and the strategic business unit level may merge.
More end-user analysis is provided at the strategic business unit level than at the functional level.
The strategic direction is more specific at the strategic business unit level than at the corporate level.
Question 8. Question :
(TCO 1) The marketing department helps keep the organization focused on creating value both for it and for customers. This is accomplished by
listening to customers.
developing offerings.
producing offerings.
implementing marketing program activities.
All of the above
Question 9. Question :
(TCO 1) Often used interchangeably with vision, a(n) _____ statement frequently has an inspirational theme.
point of difference
business map
internal situation analysis
CEO’s annual
Question 10. Question :
(TCO 1) The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself, is called
sales quality.
market share.
industry potential.
contribution margin.
marginal revenue.
Question 11. Question :
(TCO 1) What are the three steps involved in the planning phase of the strategic marketing process?
Situation (SWOT) analysis, market-product focus and goal setting, and marketing program development
Planning, implementation, and control
Set market and product goals, select target markets, find points of difference, and position the product
Identify industry trends, analyze competitors, assess own company, and research customer
Identify where we have been, where we are headed, and where we are now
Question 12. Question :
(TCO 1) In the 1980s, poor quality and Japanese imports drove the Harley-Davidson motorcycle company to the brink of bankruptcy. The company’s share of the U.S. super-heavy-weight market motorcycles with engine capacity of 850 cubic centimeters or more collapsed from more than 40% in the mid-1970s to 23% in 1983. However, by 1989, Harley-Davidson controlled some 65% of the U.S. market, and both in the United States and overseas markets, the company won’t be able to meet demand for years. From a marketing perspective, what was most likely the first step in Harley-Davidson’s resurgence?
Development of a new mission statement and subsequent marketing strategy
Repositioning its product in the minds of motorcycle buyers
Performing a SWOT analysis
Seeking new markets for motorcycles both in the United States and in foreign markets
Improving the quality of its product and communicating this to motorcycle buyers
Question 13. Question :
(TCO 1) There are no magic, one-size-fits-all guidelines for writing successful marketing and business plans. Nevertheless, all of the following generally apply, except
use a direct, professional writing style.
be positive and specific to convey potential success.
use bullet points for succinctness and emphasis.
save the most important points for the conclusion.
strive to develop a plan 15–35 pages in length, not including financial projections and appendices.
Question 14. Question :
(TCO 5) The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called
environmental trending.
organizational scanning.
environmental scanning.
a SWOT analysis.
acquisition scanning.
Question 15. Question :
(TCO 5) The social forces of the environment include the demographic characteristics of the population and its _____. Changes in these forces can have a dramatic impact on marketing strategy.
living standards
social class
Question 16. Question :
(TCO 5) Generally, the U.S. population is becoming
smaller, younger, and more diverse.
smaller, older, and more diverse.
larger, older, and less diverse.
larger, younger, and more diverse.
larger, older, and more diverse.
Question 17. Question :
(TCO 6) The concern for obtaining the best quality, features, and performance of a product or service for a given price is called
changing values.
multidimensional consumption.
buyer excellence.
purchasing excellence.
value consciousness.
Question 18. Question :
(TCO 5) _____ is a time of slow economic activity when businesses decrease production, unemployment rises, and many consumers have less money to spend.
A panic
An escalation
A recession
A depression
Question 19. Question :
(TCO 5) Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed. This is an example of how _____ help(s) to improve or replace existing products and companies.
legal forces
competitive forces
Question 20. Question :
(TCO 5) _____ is the form of competition in which just a few companies control the majority of industry sales.
Pure competition
Cross-market competition
Monopolistic competition
Question 21. Question :
(TCO 6) Which stage in the consumer purchase decision process suggests criteria to use for the purchase, yields brand names that might meet the criteria, and develops consumer value perceptions?
Problem recognition
Information search
Alternative evaluation
Purchase decision
Postpurchase evaluation
Question 22. Question :
(TCO 6) Sophisticated firms have learned the marketing lesson that
it is a lot easier to find new customers than to keep existing ones.
the buying experience, customer satisfaction, and retention can increase firm profits.
it is not clear whether it is easier to find new customers or to keep existing ones.
existing customers do not usually spend as much as new customers.
their focus should be on the four Ps and not the customer.
Question 23. Question :
(TCO 6) Organizational buyers include all the buyers in a nation, except
ultimate consumers.
Question 24. Question :
(TCO 6) Which of the following is characteristic of the organizational buying process?
Multiple parties participate in purchase decisions.
Negotiation between buyers and sellers is commonplace.
Online buying over the Internet is widespread.
Buying objectives and criteria are typically spelled out.
All of the above
Question 25. Question :
(TCO 6) Seven of the most commonly used organizational buying criteria are (1) price, (2) _____, (3) ability to meet required delivery schedules, (4) technical capability, (5) warranties and claim policies in the event of poor performance, (6) past performance on previous contracts, and (7) production facilities and capacity.
taste of the buyer
personal friendship with sales representative
ability to meet the quality specifications
current mood of the buyer
opinion of the firm’s senior management

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