September 2023 Your answers 18 18 100 Submitted on May 20 2015 9 42 AM Correct

2024 MKT 571 Week 1 QUIZ (18/18 – All correct .Quaranteed) Assignment Help

Your answers 18 18 100 Submitted on May 20 2015 9 42 AM Correct 2023

Your answers : 18/18 (100%) Submitted on May 20, 2015, 9:42 AM Correct answer question 1 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 Correct answer question 2 Which of the following is correct about marketing management? It focuses mostly on monitoring the profitability of a company’s products and services. It occurs when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties. It is defined as the field that deals with planning and managing a business at the highest level of corporate organization. It is primarily concerned with the systematic gathering, recording, and analysis of data about issues related to marketing products and services. Correct answer question 3 The Soccer World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) idea event service place Correct answer question 4 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 Correct answer question 5 Which of the following statements demonstrates behavioral loyalty towards a brand? I always buy Myfavorite Laundry detergent when purchasing laundry detergent. My friends agree Myfavorite Laundry detergent is the best. Myfavorite Laundry detergent smells good. Myfavorite Laundry detergent is so easy to use. Correct answer question 6 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 Correct answer question 7 Which market do customers who have purchased and are driving Audi automobiles represent? Penetrated market Potential market Target market Available market Correct answer question 8 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 decide which customers should receive a new sales offer To avoid serious customer mistakes To beat the competition to a sale Correct answer question 9 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 Promotional Diversification Differentiation Correct answer question 10 By 2015, projections indicate that the largest category of households will be composed of married couples with children single-parent families childless married couples and empty nesters singles living with nonrelatives Correct answer question 11 Which of the following industries is most likely to use database marketing? A local restaurant A physician’s office A school system A supermarket chain Correct answer question 12 A company’s sales potential would be equal to market potential when which situations exists? The market is nonexpandable. Industry marketing expenditures approach infinity for a given marketing environment. The marketing expenditure of the company is reduced to zero. The company gets 100 percent share of the market. Correct answer question 13 When Apple introduced iTunes, a new market was opened. Which of the following describes this type of innovation? Value capture Presence Value chain Operational excellence Correct answer question 14 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 is involved with price as the major factor. Marketing is about advertising. Marketing balances the need for data with that of creativity. Correct answer question 15 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. Licensed information Secondary data Tertiary information Primary data Correct answer question 16 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 organizations Views of nature Views of ourselves Views of others Correct answer question 17 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 overall cost leadership integrative growth market development differentiation Correct answer question 18 How does the market demand curve change (as a function of marketing expenditure) during recession? Remains unaffected Shifts upward Becomes vertical

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