BADM 320 Exam 1 Questions and
Answers
If the city of Champaign allows only one company to be the exclusive water delivery
company in Champaign, the threat of new entrants would be what? - ANSWER-Low
In an industry where there is lots of room to grow your business, there can be many
different variations of products and there are numerous potential new clients, the
intensity of rivalry would be what? - ANSWER-Low
Using the GE Mackenzie Matrix: The University of Illinois is strong in engineering
and the growth forecast for the need of engineers in the future is very high. If this is
the case, what would you recommend to the University of Illinois Board of Trustees?
- ANSWER-Invest More Money in the Engineering Program (strong BSU and high
growth rate)
Target sells the same products and merchandise as low-cost leaders Wal-Mart and
Aldi. However, Target has slightly higher prices, better product displays, more sales
associates to help you, nice uniforms and higher quality line of private label products.
Target would be using what competitive business strategy? - ANSWER-
Differentiation Strategy
Which of the following would be a key success factor for the soda pop industry?
a. Local Production
b. Branding/Marketing
c. Wide Assortment of Beverages
d. All of the above - ANSWER-All of the above
Short battery life, no network coverage, bad design. These are examples of what
part of the industry key success factor analysis? - ANSWER-Death Bells
If Nike puts a picture of Cookie Monster on the side of a shoe and charges a price
premium on that shoe, Nike is using what kind of competitive strategy? - ANSWER-
Differentiation Strategy
Which part of the marketing mix is known to "create value" in the eyes of the
consumer? - ANSWER-Product
Which part of the marketing mix is known for "capturing value" that customers see in
a product? - ANSWER-Price
When McDonald's began to open longer store hours and have their drive thru
operations work 24/7, they were using what strategy to allow their customers to buy
more hamburgers and nuggets? - ANSWER-Market penetration
, The fact that McDonald's & Burger King would not sell beef burgers in India (where
the cow is a sacred animal) would fit into which macro-environmental factor? -
ANSWER-Culture
What is a core aspect of marketing? - ANSWER-Satisfying customers wants and
needs
Sustainable Competitive Advantage remain constant over the long-term. T/F? -
ANSWER-False
How can a firm create loyal customers? - ANSWER-Focus on lifetime customers,
have products that seem like it is designed for your customer and develop a loyalty
program
When doing a SWOT analysis the strengths and weaknesses deal with what? -
ANSWER-Internal workings of the firm that the firm has control over
web 2.0 is the functionalities of the internet that allows interaction between people.
T/F? - ANSWER-True
which media (social media or traditional media) gives a sense of credibility and social
authority? - ANSWER-Traditional
Which media (social media or traditional media) has the shortest time to delivery? -
ANSWER-Social Media
When firms ask their online customers to click the "like" button or the "subscribe"
button on websites and social media they are doing what part of the 4E framework
for social media? - ANSWER-Engage
Beachbody Exercise Videos help their clients share their exercise and weight loss
experiences via YouTube online videos and Facebook picture posts of before and
after their weight loss. They do this so that potential new customers can see how the
program may work for them, Beachbody is engaging in what part of the 4E
framework? - ANSWER-Experience
"Wolters Wold Travel videos go over everything you need to now and things you
didn't know you needed to know about traveling. Wolters World talks about Top 10
Sights, 5 Things you Will Love & Hate about visiting various cities, also cultural
differences, what you need to know about backpacking Europe, and safety trips for
traveling." The previous statement would relate to which part of the 4E framework for
Social Media? - ANSWER-Educate
Which of the follow social media platforms are the best for "Brand Exposure"? -
ANSWER-Facebook
When developing a social media plan what is something that needs to be in social
media plan?
a. WHat social media platforms will be used.
Answers
If the city of Champaign allows only one company to be the exclusive water delivery
company in Champaign, the threat of new entrants would be what? - ANSWER-Low
In an industry where there is lots of room to grow your business, there can be many
different variations of products and there are numerous potential new clients, the
intensity of rivalry would be what? - ANSWER-Low
Using the GE Mackenzie Matrix: The University of Illinois is strong in engineering
and the growth forecast for the need of engineers in the future is very high. If this is
the case, what would you recommend to the University of Illinois Board of Trustees?
- ANSWER-Invest More Money in the Engineering Program (strong BSU and high
growth rate)
Target sells the same products and merchandise as low-cost leaders Wal-Mart and
Aldi. However, Target has slightly higher prices, better product displays, more sales
associates to help you, nice uniforms and higher quality line of private label products.
Target would be using what competitive business strategy? - ANSWER-
Differentiation Strategy
Which of the following would be a key success factor for the soda pop industry?
a. Local Production
b. Branding/Marketing
c. Wide Assortment of Beverages
d. All of the above - ANSWER-All of the above
Short battery life, no network coverage, bad design. These are examples of what
part of the industry key success factor analysis? - ANSWER-Death Bells
If Nike puts a picture of Cookie Monster on the side of a shoe and charges a price
premium on that shoe, Nike is using what kind of competitive strategy? - ANSWER-
Differentiation Strategy
Which part of the marketing mix is known to "create value" in the eyes of the
consumer? - ANSWER-Product
Which part of the marketing mix is known for "capturing value" that customers see in
a product? - ANSWER-Price
When McDonald's began to open longer store hours and have their drive thru
operations work 24/7, they were using what strategy to allow their customers to buy
more hamburgers and nuggets? - ANSWER-Market penetration
, The fact that McDonald's & Burger King would not sell beef burgers in India (where
the cow is a sacred animal) would fit into which macro-environmental factor? -
ANSWER-Culture
What is a core aspect of marketing? - ANSWER-Satisfying customers wants and
needs
Sustainable Competitive Advantage remain constant over the long-term. T/F? -
ANSWER-False
How can a firm create loyal customers? - ANSWER-Focus on lifetime customers,
have products that seem like it is designed for your customer and develop a loyalty
program
When doing a SWOT analysis the strengths and weaknesses deal with what? -
ANSWER-Internal workings of the firm that the firm has control over
web 2.0 is the functionalities of the internet that allows interaction between people.
T/F? - ANSWER-True
which media (social media or traditional media) gives a sense of credibility and social
authority? - ANSWER-Traditional
Which media (social media or traditional media) has the shortest time to delivery? -
ANSWER-Social Media
When firms ask their online customers to click the "like" button or the "subscribe"
button on websites and social media they are doing what part of the 4E framework
for social media? - ANSWER-Engage
Beachbody Exercise Videos help their clients share their exercise and weight loss
experiences via YouTube online videos and Facebook picture posts of before and
after their weight loss. They do this so that potential new customers can see how the
program may work for them, Beachbody is engaging in what part of the 4E
framework? - ANSWER-Experience
"Wolters Wold Travel videos go over everything you need to now and things you
didn't know you needed to know about traveling. Wolters World talks about Top 10
Sights, 5 Things you Will Love & Hate about visiting various cities, also cultural
differences, what you need to know about backpacking Europe, and safety trips for
traveling." The previous statement would relate to which part of the 4E framework for
Social Media? - ANSWER-Educate
Which of the follow social media platforms are the best for "Brand Exposure"? -
ANSWER-Facebook
When developing a social media plan what is something that needs to be in social
media plan?
a. WHat social media platforms will be used.
