BUSML 3150 MIDTERM 1 UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Question:
1. One of the benefits of value-driven marketing is that
attention to customer needs and wants will likely result in
Answer:
long-term relationships
Question:
2. Many universities provide physical or electronic bulletin
boards to facilitate ride-sharing and exchange of used
books among students. These bulletin boards increase
__________ marketing.
Answer:
C2C
Question:
3. The four Ps make up the marketing mix, which is the
__________ set of activities that the firm uses to respond to
the wants and needs of its target markets.
Answer:
controllable
Question:
4. The marketing goal of getting the "right quantities to the
right locations, at the right time" is:
Answer:
supply chain management
Question:
5. Even though they operate from out-of-the-way airports
and offer few extra services, discount airlines like Ryanair
and EasyJet have been successful. Consumers obviously
consider
Answer:
the benefit of lower prices to be greater than the cost of reduced services and
less convenience
,Question:
6. Generational cohorts are groups of people of the same
generation who have similar __________ because they have
shared experiences and are in the same stage of life.
Answer:
purchase behavior
Question:
7. In New England foot-long sandwiches are called
"grinders" while in many other parts of the country they
are called "subs." This is an example of the impact of
Answer:
regional culture
Question:
8. Julie is an experienced shopper. She has been doing the
family's weekly shopping since she was twelve. She is not
very interested in status items, and questions advertising
claims. Julie is most likely to be in the __________ generational
cohort.
Answer:
Generation X
Question:
9. The centerpiece of the Marketing Environment Analysis
Framework is
Answer:
consumers
Question:
10. Marketers are more likely to find higher concentrations of
foreign-born Americans and recent immigrants in
Answer:
New York, Los Angeles, and Chicago
Question:
11. The firms that work along with the focal firm to provide
goods and services to consumers are viewed as
Answer:
corporate partners
, Question:
12. Political candidates are notorious for appealing to the
different beliefs and values of groups of potential voters
in different areas of the country. These politicians are
appealing to differences in
Answer:
regional culture
Question:
13. Since the late 1970s, most American families have seen
their income growth stagnate, with income rising only
slightly more than inflation. This has changed many
Americans consumers' concept of
Answer:
value
Question:
14. The shared meanings, beliefs, morals, values, and
customs of a group of people constitute their
Answer:
culture
Question:
15. Astute marketers recognize that the increasing disparity
of income between upper- and lower-income groups
Answer:
creates opportunities to provide value to each group
Question:
16. When studying culture, the challenge for marketers is to
determine whether culture
Answer:
can help to identify a particular group that might be interested in the marketer's
products.
Question:
17. Though he has never owned a Jaguar, Jerry thinks they are
poorly made and have many mechanical problems. For
Jaguar to sell Jerry a car, the company would need to
change the __________ component of Jerry's attitude.
Answer:
cognitive
QUESTIONS AND CORRECT ANSWERS
Question:
1. One of the benefits of value-driven marketing is that
attention to customer needs and wants will likely result in
Answer:
long-term relationships
Question:
2. Many universities provide physical or electronic bulletin
boards to facilitate ride-sharing and exchange of used
books among students. These bulletin boards increase
__________ marketing.
Answer:
C2C
Question:
3. The four Ps make up the marketing mix, which is the
__________ set of activities that the firm uses to respond to
the wants and needs of its target markets.
Answer:
controllable
Question:
4. The marketing goal of getting the "right quantities to the
right locations, at the right time" is:
Answer:
supply chain management
Question:
5. Even though they operate from out-of-the-way airports
and offer few extra services, discount airlines like Ryanair
and EasyJet have been successful. Consumers obviously
consider
Answer:
the benefit of lower prices to be greater than the cost of reduced services and
less convenience
,Question:
6. Generational cohorts are groups of people of the same
generation who have similar __________ because they have
shared experiences and are in the same stage of life.
Answer:
purchase behavior
Question:
7. In New England foot-long sandwiches are called
"grinders" while in many other parts of the country they
are called "subs." This is an example of the impact of
Answer:
regional culture
Question:
8. Julie is an experienced shopper. She has been doing the
family's weekly shopping since she was twelve. She is not
very interested in status items, and questions advertising
claims. Julie is most likely to be in the __________ generational
cohort.
Answer:
Generation X
Question:
9. The centerpiece of the Marketing Environment Analysis
Framework is
Answer:
consumers
Question:
10. Marketers are more likely to find higher concentrations of
foreign-born Americans and recent immigrants in
Answer:
New York, Los Angeles, and Chicago
Question:
11. The firms that work along with the focal firm to provide
goods and services to consumers are viewed as
Answer:
corporate partners
, Question:
12. Political candidates are notorious for appealing to the
different beliefs and values of groups of potential voters
in different areas of the country. These politicians are
appealing to differences in
Answer:
regional culture
Question:
13. Since the late 1970s, most American families have seen
their income growth stagnate, with income rising only
slightly more than inflation. This has changed many
Americans consumers' concept of
Answer:
value
Question:
14. The shared meanings, beliefs, morals, values, and
customs of a group of people constitute their
Answer:
culture
Question:
15. Astute marketers recognize that the increasing disparity
of income between upper- and lower-income groups
Answer:
creates opportunities to provide value to each group
Question:
16. When studying culture, the challenge for marketers is to
determine whether culture
Answer:
can help to identify a particular group that might be interested in the marketer's
products.
Question:
17. Though he has never owned a Jaguar, Jerry thinks they are
poorly made and have many mechanical problems. For
Jaguar to sell Jerry a car, the company would need to
change the __________ component of Jerry's attitude.
Answer:
cognitive
