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MARK 3321 EXAM 1 (CH. 1-4) QUESTIONS AND VERIFIED ANSWERS

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MARK 3321 EXAM 1 (CH. 1-4) QUESTIONS AND VERIFIED ANSWERS

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Darden Restaurants is well known for its famous restaurant brands, including Olive
Garden, Seasons 52, Bahama Breeze, and LongHorn Steakhouse. Each of these
restaurant operations maintains a distinct mission and target market, and they are run
as independent businesses. Thus, they are considered _______.


franchise operations
captive businesses
wholly owned subsidiaries
strategic business units


Give this one a try later!


strategic business units




Carmen recently did a Google search for recommendations on a fuel efficient,
electric, or hybrid sedan, and she noticed that when she checked her Instagram and
Pinterest updates, there were now pop-up advertisements for various brands of

,vehicles like those the Google search revealed. The information about Carmen that
Google, Instagram, Pinterest, or her other social media accounts are utilizing to show
her these advertisements is known as _______.


consumer mediated data
privacy intrusion
Big Data
information overload


Give this one a try later!


Big Data




ConAgra Foods is a global manufacturer of processed and packaged foods with
revenues of $11 billion annually. It recently acquired Pinnacle Foods, which added
iconic brands to its portfolio such as Birds Eye, Duncan Hines, Earth Balance, and
Vlasic. Pinnacle Foods will continue to have control over its resources and distinct
mission, and it will operate independently of ConAgra Foods. Pinnacle Foods is
known as a(n) _______.


wholly owned subsidiary
franchise operation
strategic business unit


Give this one a try later!


strategic business unit




Marketing activities enable consumers to become aware of products or services, and
they hopefully provide the information necessary for each buyer to identify the one
brand or model that will be most appropriate for them to purchase. Such marketing
activities include promotion, advertising, and public relations, as well as supply chain
activities to ensure products are available at retail outlets convenient to customers.

,Which of the following reasons to study marketing captures the various marketing
activities described?


Marketing offers outstanding career opportunities.
Marketing can be used in everyday life.
Marketing plays an important role in society.
Marketing is important to business.


Give this one a try later!


Marketing plays an important role in society.




Cristóbal recently purchased a new Ford F150 pickup truck and is now trying to sell
his used truck with 180,000 miles on the odometer on eBay. He has created a listing
including photos, and he decides to use eBay's "Buy It Now" feature rather than an
auction. The truck has been listed for several weeks, but so far no one has contacted
him about it. Which condition of exchange most directly relates to Cristóbal's eBay
listing for his truck?


There must be at least two parties.
Each party is free to accept or reject the exchange offer.
Each party has something that might be of value to the other party.
Each party believes it is appropriate or desirable to deal with the other party.


Give this one a try later!


There must be at least two parties.




Many businesses today offer loyalty programs to customers, because gaining
customers for life is a goal that enables firms to be more profitable. The Marriott hotel
chain's loyalty programs are popular since customers can accumulate points that can
be redeemed for upgrades or free room stays. Marriott also encourages members to
complete their profiles by indicating the size of bed they prefer (double or king), type

, of pillow (foam or feather), handicap accessible needs, or other preferences. The
profile information enables each hotel to utilize this information and provide the right
type of room amenities for each guest. The loyalty program is an example of _______.


teamwork
empowerment
customer relationship management
customer partnership


Give this one a try later!


customer relationship management




Which of the following statements is true regarding effective strategic planning?


Strategic planning is necessary every two years.


Strategic planning is not needed when the external environment is stable and
unchanging.


Strategic planning requires top management's support and participation.


Sound strategic planning is based on managers' assumptions about the firm and its
competition.


Give this one a try later!


Strategic planning requires top management's support and participation.




Consumer packaged goods companies thrive in the marketplace in part by creating
new products that meet the needs of its target markets. Hormel Foods has introduced
several new ready-to-eat, quick meal, or snack options designed to be eaten on-the-
go. In addition, these products satisfy hunger cravings, taste good, and help meet

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