MKT 571 Final Exam

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MKT 571 Week 1 Quiz 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.

3. Which of the following statements demonstrates behavioral

loyalty towards a brand?

My friends agree My favourite Laundry detergent is the best.

My favourite Laundry detergent is so easy to use.
My favourite Laundry detergent smells good.
I always buy my favourite 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.

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
Views
Views
Views

of
of
of
of

ourselves
nature
others
organizations

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
A
A
A

supermarket chain
local restaurant
physicians office
school system

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

14The Soccer World Cup is promoted aggressively

to both companies and fans. This is an example of marketing
a(n)

service
event
place
idea

15How does the market demand curve change (as a function of

marketing expenditure) during recession?

Shifts upward
Becomes vertical
Remains unaffected
Shifts downward

16A 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 non expandable.
17During 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

18Costco is able to keep its inventory expenditure

relatively low through its management technology and cuttingedge 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

19..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

20.Which of the following statements demonstrates behavioral

loyalty towards a brand?

My friends agree Myfavorite Laundry detergent is the best.

My favorite Laundry detergent is so easy to use.
My favorite Laundry detergent smells good.
I always buy Myfavorite Laundry detergent when purchasing
laundry detergent.

21.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
22.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

23.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.

24. 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
25. Which of the following elements of socio cultural
environment can be associated with the growing demand for
social surrogates like social networking sites, television, and so
on?

Views
Views
Views
Views

of
of
of
of

ourselves
nature
others
organizations

26. 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

27. 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

28. Which of the following industries is most likely to use

database marketing?
A supermarket chain

 A local restaurant
A physicians office
A school system
29. Which market do customers who have purchased and are
driving Audi automobiles represent?

Potential market
Available market
Target market
Penetrated market

30. 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

31.The Soccer World Cup is promoted aggressively to both

companies and fans. This is an example of marketing a(n)

service
event
place
idea

32.How does the market demand curve change (as a function

of marketing expenditure) during recession?

Shifts upward
Becomes vertical
Remains unaffected
Shifts downward

33. 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 non expandable.
34. 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
35. 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

Complete paper here

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