BUS2-130 Exam 1 questions and
answers
After World War I and the Great Depression, consumers purchased far less. To
address overproduction, companies relied on advertising and personal selling. This
was the✔✔sales-oriented era
In the ________ era, manufacturers focused on product innovation, rather than
satisfying the needs of individual customers.✔✔production-oriented
Which of the following is one of the core practices among value-oriented
marketers?✔✔constantly measuring the benefits that customers receive against the
costs of offerings
Rather than being just a random activity, good marketing requires ________ in
determining appropriate actions to produce sound decisions.✔✔thoughtful planning
The ________ consists of the product, price, place, and promotion of an
offering.✔✔marketing mix
According to your text, which of the following can be said regarding the use of social
media in advertising?✔✔Only about 30 percent of the world's population uses
Facebook—which means 70 percent still has not signed up.
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 plan
Understanding consumers' ________ is fundamental to marketing
success.✔✔needs and wants
A group that sponsors poster contests for children to promote bicycle safety is
providing which of the following marketing offerings?✔✔ideas
A business philosophy and set of strategies, programs, and systems that focus on
identifying and building loyalty among the firm's most valued customers is known
as✔✔customer relationship management.
When an optical center provides eye exams and new contact lenses as its offering, it
is an example of which the following combinations?✔✔goods and services
Amazon collects massive amounts of data about how, when, why, where, and what
people buy, and then analyzes those data to better serve its customers. This activity
refers to✔✔marketing analytics.
Which marketing mix element deals specifically with retailing and marketing channel
management?✔✔place
, During the last couple of decades, it has become important for value-oriented
marketers to ________ with customers.✔✔move toward a relational orientation from
a transactional perspective
Redbox uses the ________ element of the marketing mix to make movie rentals
available for customers when and where they need them.✔✔place
The ________ era embraced the belief that a good product would sell
itself.✔✔production-oriented
Smithward. Inc. manufactures reusable water bottles. It targets its marketing
campaigns at different market ________, including outdoor enthusiasts, health-
conscious buyers, and young people who want the current fashion
accessory.✔✔segments
Which of the marketing mix elements corresponds to what the buyer gives up in the
marketing exchange?✔✔price
The goal of a marketing exchange is that the parties to the transaction
be✔✔satisfied.
A national hotel chain engages in conversations with its customers through
Facebook and even allows them to book their hotel reservations through its
Facebook page. This is an example of marketing using✔✔social media.
Which of the following elements of the marketing mix is involved when marketers
make their offering available when and where the customer wants it?✔✔place
Companies must deliver more value and satisfaction to target consumers than their
competitors to gain a✔✔competitive advantage.
What two metrics are used in the BCG portfolio analysis to evaluate the various
products of a firm?✔✔relative market share and market growth rate
Hyatt recognizes that there are different groups of travelers with different needs,
wants, and characteristics in their choice of lodging. The process of dividing Hyatt's
market into these various groups is✔✔market segmentation.
According to the BCG matrix, which type of product typically has excess resources,
which can be used to support other products that need additional
resources?✔✔cash cows
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?✔✔market positioning
answers
After World War I and the Great Depression, consumers purchased far less. To
address overproduction, companies relied on advertising and personal selling. This
was the✔✔sales-oriented era
In the ________ era, manufacturers focused on product innovation, rather than
satisfying the needs of individual customers.✔✔production-oriented
Which of the following is one of the core practices among value-oriented
marketers?✔✔constantly measuring the benefits that customers receive against the
costs of offerings
Rather than being just a random activity, good marketing requires ________ in
determining appropriate actions to produce sound decisions.✔✔thoughtful planning
The ________ consists of the product, price, place, and promotion of an
offering.✔✔marketing mix
According to your text, which of the following can be said regarding the use of social
media in advertising?✔✔Only about 30 percent of the world's population uses
Facebook—which means 70 percent still has not signed up.
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 plan
Understanding consumers' ________ is fundamental to marketing
success.✔✔needs and wants
A group that sponsors poster contests for children to promote bicycle safety is
providing which of the following marketing offerings?✔✔ideas
A business philosophy and set of strategies, programs, and systems that focus on
identifying and building loyalty among the firm's most valued customers is known
as✔✔customer relationship management.
When an optical center provides eye exams and new contact lenses as its offering, it
is an example of which the following combinations?✔✔goods and services
Amazon collects massive amounts of data about how, when, why, where, and what
people buy, and then analyzes those data to better serve its customers. This activity
refers to✔✔marketing analytics.
Which marketing mix element deals specifically with retailing and marketing channel
management?✔✔place
, During the last couple of decades, it has become important for value-oriented
marketers to ________ with customers.✔✔move toward a relational orientation from
a transactional perspective
Redbox uses the ________ element of the marketing mix to make movie rentals
available for customers when and where they need them.✔✔place
The ________ era embraced the belief that a good product would sell
itself.✔✔production-oriented
Smithward. Inc. manufactures reusable water bottles. It targets its marketing
campaigns at different market ________, including outdoor enthusiasts, health-
conscious buyers, and young people who want the current fashion
accessory.✔✔segments
Which of the marketing mix elements corresponds to what the buyer gives up in the
marketing exchange?✔✔price
The goal of a marketing exchange is that the parties to the transaction
be✔✔satisfied.
A national hotel chain engages in conversations with its customers through
Facebook and even allows them to book their hotel reservations through its
Facebook page. This is an example of marketing using✔✔social media.
Which of the following elements of the marketing mix is involved when marketers
make their offering available when and where the customer wants it?✔✔place
Companies must deliver more value and satisfaction to target consumers than their
competitors to gain a✔✔competitive advantage.
What two metrics are used in the BCG portfolio analysis to evaluate the various
products of a firm?✔✔relative market share and market growth rate
Hyatt recognizes that there are different groups of travelers with different needs,
wants, and characteristics in their choice of lodging. The process of dividing Hyatt's
market into these various groups is✔✔market segmentation.
According to the BCG matrix, which type of product typically has excess resources,
which can be used to support other products that need additional
resources?✔✔cash cows
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?✔✔market positioning
