Question details

MRKT 310 7380 Marketing Principles (2168)
$ 15.00

Question 1 (1 point)

What is the marketing function that ensures customers can find offerings when and where they want them?

Question 1 options:

marketing communications

exchange

distribution

product development

Question 2 (1 point)

 Question 2 Unsaved

A bundle of value delivered via a product, a service, or a combination of the two, plus the price describes _______________.

Question 2 options:

a tangible good a consumer can purchase.

the benefits of acquiring a particular product.

a primary marketing concept about products.

an offering.

Question 3 (1 point)

 Question 3 Unsaved

A bundle of value delivered via a product, a service, or a combination of the two, plus the price describes _______________.

Question 3 options:

a tangible good a consumer can purchase.

the benefits of acquiring a particular product.

a primary marketing concept about products.

an offering.

Question 4 (1 point)

 Question 4 Unsaved

Which of the following companies do you think best exemplifies the marketing concept?

Question 4 options:

A grocery store that regularly reviews its register receipts and tries to reduce prices on those items most frequently purchased by its customers.

A new computer operating system that launch a new version every year for an increase in user fees and ceases customer support for the older system.

A used car salesman who steers you to a more expensive option even though you clearly are more interested in a lower priced model.  

A cat food company that suddenly drops its price by 10%.

Question 5 (1 point)

 Question 5 Unsaved

Which of the following mission statements is most customer focused?

Question 5 options:

We want to be the global leader!

We want to be the product of choice for all our customers!

We want to be the technology leader in our product category!

We want to grow in a responsible and economically viable manner!  

Question 6 (1 point)

 Question 6 Unsaved

Why should an organization operate in an ethical and socially responsible manner?

Question 6 options:

Because governments assess heavy fines to companies caught acting illegally and unethically

Because corporate officers can be held personally accountable for illegal and unethical behavior

Because consumers are demanding ethical and socially responsible behavior and voting with their wallets

Because marketing has a bad reputation and companies need to regain the public's trust

Question 7 (1 point)

 Question 7 Unsaved

What are the main themes of the American Marketing Association's definition of marketing?

Question 7 options:

profit maximization through mutual exchanges

social and managerial processes to obtain needs and wants

creating, communicating, delivering and exchanging offerings that have value

creating, pricing and placing need filling value

Question 8 (1 point)

 Question 8 Unsaved

The relationship between the price of a product, how difficult it is to purchase versus the benefits the customer hopes to receive is called the ___________.

Question 8 options:

personal value equation

product price

exchange equation

hassle factor

Question 9 (1 point)

 Question 9 Unsaved

When considering marketing's place in the economy, what is the most important role the marketing function plays?  

Question 9 options:

Contributing to shareholder wealth

Bringing products to market

Creating value for customers

Employing a workforce

Question 10 (1 point)

 Question 10 Unsaved

Which statement best describes the 'offering' of an Apple iphone.

Question 10 options:

A bundle of features and benefits along with the reputation of Apple products, the warranty, the online and ancillary support and user groups, the App store, iMusic and more.

A means to connect with anyone, any where, any time

A state of the art mobile phone device that needs to be attached to a cell service provide for worldwide phone connectivity

A cell phone that costs more than competing offerings because consumers perceive that the iPhone offers more features than any other cell phone and is worth the price, and the Apple brand is known and respected.

Question 11 (1 point)

 Question 11 Unsaved

How does a marketing orientation differ from a selling orientation?

Question 11 options:

A marketing orientation begins with what the customer needs and the selling orientation begins with what the company needs.

A marketing orientation is concerned with advertising and a selling orientation is concerned with personal selling.  

A selling orientation assumes the customer has already decided to buy and the only thing needed is a salesperson and no marketing is involved. 

The marketing orientation ensures profit maximization while the selling orientation could not.  

Question 12 (1 point)

 Question 12 Unsaved

What is the reason why a good strategic plan includes an analysis of the current situation including a SWOT analysis?

Question 12 options:

To minimize past mistakes

To record the historic performance of the company thus far before moving forward

To realistically identify the problems to minimize and the strengths maximize in the context of the opportunities and competition in the environment

To represent the issues and points of view of all departments within the company before moving forward with strategic objectives 

Question 13 (1 point)

 Question 13 Unsaved

Is marketing and advertising the same thing?

Question 13 options:

Yes, the terms can be used interchangeably.

Yes, even though they mean slightly different things, people commonly think of them as one in the same thing.

No, marketing is a much broader strategic business function, while advertising is a more operational function.  

No, because without advertising it would not matter what the company markets no one would know about it.

Question 14 (1 point)

 Question 14 Unsaved

How can marketing, which appears to mostly benefit a company's bottom line, also benefit society at large?

Question 14 options:

Because all of society are potential customers

Because if company's don't benefit society governments and consumer groups will eventually regulate the industry

Because marketing facilitates made, which makes people's lives better

Because consumer advocacy groups can initiate a boycott of a company's product

Question 15 (1 point)

 Question 15 Unsaved

What are the major steps in a strategic planning process?

Question 15 options:

  1. develop mission statement
  2. develop corporate objectives
  3. scan internal and external environments
  4. develop product or service offerings

  1. mission statement
  2. value proposition
  3. environment analysis
  4. strategy formulation

  1. conduct marketing research to identify customer needs
  2. develop a mission statement
  3. develop a valuable offering
  4. communicate the offering

  1. environmental analysis
  2. mission statement
  3. objectives
  4. value proposition and strategy formulation

 

 

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