Chapter 1 & 2 practice quiz BA370

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San Diego State University *

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370

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Marketing

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Jan 9, 2024

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docx

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Quiz Questions Chapter 1 ● A firm that creates value by developing a variety of offerings including goods, services, and ideas is doing so through which element of the four P’s? ○ Price ○ Place ○ Planning ○ People ○ Product ● Nike’s sneakers are an example of which of the following types of marketing offerings? ○ Innovation ○ Goods ○ Services ○ Ideas ○ Promotions ● According to your text, which of the following can be said regarding the use of social media in advertising? ○ Facebook is the social media site of choice for marketers because 75 percent of the world’s population has signed up for a Facebook account ○ Marketers are reluctant to use social media in advertising because technology is changing so rapidly ○ Only about 30 percent of the world’s population uses Facebook - which means 70 percent still has not signed up ○ Facebook is nowhere near saturation in countries like the United States and United Kingdom ○ The use of social media, once the premier way to connect to consumers, is rapidly falling off in popularity due to privacy concerns among users ● During the last couple of decades, it has become important for value-oriented marketers to ____________ with customers. ○ Move from a transactional orientation to a transitional perspective ○ Manage transactions more efficiently ○ Reduce the number of transactions to improve relationships ○ Move toward a relational orientation from a transactional perspective ○ Consider how they can reduce their interactions ● A group that sponsors poster contests for children to promote bicycle safety is providing which of the following marketing offerings ○ Services ○ Goods ○ Ideas ○ Innovations ○ Promotions ● Frontier Airline has gained success because enough travelers are willing to trade off carrying extra items for a lower price ticket. The _______ reflects the capture of value in the marketing exchange. ○ Product ○ Services

○ Price ○ Promotion ○ Place ● Which of the following illustrates how marketing has a direct impact on consumers? ○ Marketing advises production about how much product to manufacture ○ Marketing creates long-lasting relationships between the firm and its suppliers ○ Marketing helps firms expand globally ○ Marketing helps consumers learn about new products and services ○ Marketing advises logistics about when to ship products ● The ________ addresses how a product will be designed, how much it should cost, how it will be promoted, and how it will get to consumers ○ Marketing concept ○ Competitive advantage ○ Marketing plan ○ Customer franchise ○ Marketing exchange ● Firms that are _____ recognize that including a strong social orientation in business is a sound strategy that is in the best interest of both the firm and its customers. ○ Profit-driven ○ Socially responsible ○ Production-oriented ○ Sales-oriented ○ Translation-oriented ● Which of the following is one of the core practices among value-oriented marketers? ○ Keeping information confidential by not sharing it among the firm’s different departments ○ Constantly measuring the benefits that customers receive against the costs of offerings ○ Maintaining a transactional orientation in the seller-buyer relationship ○ Managing the relationships among employees ○ Consistently selling products below the production ● Value-oriented marketers engage in an ongoing process of balancing the perceived benefit to customers and the price. ● Firms become value driven by focusing on which of the following activities? ○ Balancing customer benefits and costs ○ Sharing information ○ Building relationships ● Which of the following are associated with marketing, as defined by the American Marketing Association? ○ Activities that communicate offerings that have value for society at large ○ Processes used to create value for clients ○ Institutions that facilitate the exchange of offerings that have value for customers. Chapter 2 ● General Electric determined that it would close down divisions that were in low-growth markets that had relatively low market shares. According to the BCG product portfolio

analysis, GE was identifying divisions in the _______ category for closure. ○ Stars ○ Cash cows ○ Clunkers ○ Question marks ○ Dogs ● Honda marketed its CR-Z hybrid model to a distinct segment of consumers as a fun, green, sporty hybrid that stands out as being uniquely different from other hybrid models. This is an example of which of the following? ○ Mission statement ○ Product placement ○ Market positioning ○ A situation analysis ○ A strategic business unit ● When a firm considers its overall objectives and considers the type of business it is in, it is engaged in which of the following steps of the marketing planning process? ○ Defining the mission ○ Conducting a situation analysis ○ Identifying and evaluating opportunities ○ Implementing the marketing mix ○ Evaluating performance ● A local restaurant is known for low quality food and poor service. These factors would be classified as ______ in a SWOT analysis. ○ Weaknesses ○ Strengths ○ Threats ○ Opportunities ○ Advantages ● When marketers strive to get their customers the merchandise they want, when they want it, in the required quantities, and at a lower delivered cost than that of their competitors, they are hoping to achieve a sustainable competitive advantage through _____ excellence. ○ Locational ○ Operational ○ Product ○ Customer ○ Strategic ● Although Starbucks, Dunkin’ Donuts, and McDonald’s all strive to provide a good cup of coffee to their respective target markets, the difference in their choice of target market, design of their marketing mix, and the basis of their competitive advantage is directly related to their own ○ Competitive focus ○ Consumer franchise ○ Market leadership ○ Marketing strategy ○ Competitive direction

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