Question

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

diversity.

ability to pay.

objectives.

needs.

synergy.

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.

teenagers.

seniors.

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

mission

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

values

dialect

culture

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

Inflation

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.

technology

medicine

legal forces

ecology

competitive forces

Question 20. Question :

(TCO 5) _____ is the form of competition in which jy of American Family Businesses reports that _________ percent of small business owners have written estate plans.

a. 25

b. 40

c. 55

d. 75

Q46. The most popular loan program sponsored by the Small Business Administration (SBA) is:

a. Low Doc Program

b. Export Working Capital Program

c. 7(a) Loan Guaranty Program

d. All of the above

Q47. When Blue Fish Clothing decided to raise money for growth and expansion by selling shares of company stock straight to investors without relying on an investment banker (or underwriter), the company was making which kind of stock offering?

a. Rule 147

b. direct stock offering

c. Regulation S-B

d. Best-efforts stock offering

Q48. Which of the following statements concerning asset-based loans is false?

a. The most common types of asset-based loans are discounting accounts receivable and inventory financing.

b. Because of its efficiency and low cost, asset-based loans are an ideal source of long-term financing.

c. A small company that qualifies for a $1 million line of credit would be able to borrow as much as $3 million using asset-based loans.

d. All of the above

Q49. Regular special offers that are available only to Web customers will annoy most shoppers.

a. true

b. false

Q50. A(n) __________ is a combination of hardware and software operating between the Internet and a company?s computer network that allows employees to have access to the Internet but keeps unauthorized users from entering the company?s network and the programs and the data it contains.

a. virus detection program

b. firewall

c. intrusion detection program

d. hacker block

Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.